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Wednesday, October 30, 2019

Fortune Reit - Stock calls

Date Analyst Company Last Target Call Valuation
01/25/19 DBS Vickers Fortune Reit 9.8 10.68 Buy
01/29/19 DBS Vickers Fortune Reit 9.7 10.76 Buy
03/06/19 DBS Vickers Fortune Reit 9.8 10.76 Buy
06/21/19 DBS Vickers Fortune Reit 10.66 11.8 Buy DDM

Food Empire - Stock calls

Date Analyst Company Last Target Call Valuation
03/04/19 DMG & Partners Food Empire 0.58 0.69 Buy
04/05/19 DMG & Partners Food Empire 0.56 0.69 Buy
08/13/19 DMG & Partners Food Empire 0.525 0.73 Buy PER13x FY19

Stock calls for 30 October 2019

Date Analyst Company Last Target Call Valuation
10/30/19 OCBC Cache Logistics 0.72 0.72 Hold
10/30/19 Lim & Tan Far East Hospitality 0.7 0 Hold
10/30/19 OCBC Hutchison Port 0.158 0.155 Hold
10/30/19 DBS Vickers Mapletree North Asia 1.27 1.6 Buy DCF
10/30/19 DMG & Partners Raffles Medical 1 1.02 Neutral DCF
10/30/19 CIMB Raffles Medical 1 1.16 Add Sum of parts
10/30/19 UOB Kay Hian Raffles Medical 1 1.27 Buy DCF
10/30/19 DBS Vickers Raffles Medical 1 1.12 Hold
10/30/19 UOB Kay Hian Sasseur 0.8 0.97 Buy DDM

When the US says it is deploying its troops to protect the oil field, you cannot trust the US government.

https://sg.finance.yahoo.com/news/russia-releases-damning-evidence-u-173000250.html

The US is caught red-handed by Russia for plundering Syrian oil under the guise of safeguarding the oil field.

Why am I not surprised?  If you truly understand the Americans, you will know that the US cannot be trusted.

Tuesday, October 29, 2019

Food Empire - Stock calls

Date Analyst Company Last Target Call Valuation
03/04/19 DMG & Partners Food Empire 0.58 0.69 Buy
04/05/19 DMG & Partners Food Empire 0.56 0.69 Buy
08/13/19 DMG & Partners Food Empire 0.525 0.73 Buy PER13x FY19

First Sponsor - Stock calls

Date Analyst Company Last Target Call Valuation
02/22/19 DBS Vickers First Sponsor 1.27 1.62 Buy RNAV (35% discount)
07/26/19 DBS Vickers First Sponsor 1.31 1.62 Buy RNAV (35% discount)

First Resources - Stock calls

Date Analyst Company Last Target Call Valuation
01/03/19 UOB Kay Hian First Resources 1.56 1.6 Hold
02/20/19 UOB Kay Hian First Resources 1.72 1.85 Hold PER13x FY19, Buy @ $1.65
02/21/19 Kim Eng First Resources 1.69 2.1 Buy
03/01/19 Kim Eng First Resources 1.71 2.03 Buy PER17x
03/04/19 DMG & Partners First Resources 1.72 1.6 Neutral PER13x FY19
03/04/19 DBS Vickers First Resources 1.72 1.97 Buy DCF
03/05/19 CIMB First Resources 1.7 2.12 Add
03/12/19 UOB Kay Hian First Resources 1.69 1.85 Hold Buy @ $1.65
04/09/19 CIMB First Resources 1.79 2.12 Add
04/22/19 UOB Kay Hian First Resources 1.85 1.85 Hold
05/06/19 Kim Eng First Resources 1.82 2.03 Buy PER17x FY19
05/09/19 UOB Kay Hian First Resources 1.79 1.85 Hold PER13x FY19, Buy @ $1.65
05/16/19 DMG & Partners First Resources 1.7 1.53 Neutral PER13x FY20
05/16/19 Kim Eng First Resources 1.7 1.93 Buy PER17x
05/16/19 DBS Vickers First Resources 1.7 1.95 Buy DCF, PER16.5x FY19
05/16/19 UOB Kay Hian First Resources 1.7 1.7 Hold Buy @ $1.50
06/06/19 DMG & Partners First Resources 1.56 1.53 Neutral
07/02/19 Kim Eng First Resources 1.6 1.93 Buy
07/16/19 DBS Vickers First Resources 1.55 1.82 Buy DCF
08/06/19 UOB Kay Hian First Resources 1.53 1.6 Hold Buy @ $1.45
08/15/19 Kim Eng First Resources 1.57 1.8 Buy
08/15/19 DMG & Partners First Resources 1.57 1.45 Neutral PER14x FY20
08/15/19 CIMB First Resources 1.57 1.76 Add
08/21/19 UOB Kay Hian First Resources 1.5 1.6 Hold Buy @ $1.45
09/30/19 DMG & Partners First Resources 1.6 1.9 Buy PER18x FY20

Stock calls for 29 October 2019

Date Analyst Company Last Target Call Valuation
10/29/19 DBS Vickers CapitaRetail China 1.55 1.8 Buy
10/29/19 UOB Kay Hian DBS 25.18 29.75 Buy
10/29/19 Amfrasers Eagle Hospitality Trust 0.545 0.72 outperform DDM
10/29/19 DMG & Partners ESR-Reit 0.53 0.6 Buy DDM
10/29/19 Lim & Tan Mapletree North Asia 1.26 0 Hold
10/29/19 UOB Kay Hian Oxley 0.34 0.5 Buy RNAV (30% discount)
10/29/19 Kim Eng Venture 15.29 18.85 Buy PB2.1x FY20

omg! Ang Mo Kio Block 4xx unit was ablaze this morning.

AMK again!

Saturday, October 26, 2019

The US Fed will cut rates again in October 2019.

How did we reach our conclusion?  Please read our previous analysis to understand our methodology.

https://sg-stock.blogspot.com/2019/09/will-us-fed-reduce-its-interest-rates.html

Our analysis:

Iorr: 1.8% (falling), Max is 2% as set by the US FED.


Effr: 1.85% (falling)


Ioer: 1.8% (falling)


On RRP: 1.7% (falling), Min is 1.75% as set by the US FED.


The official US interest rates set by the FED range from 1.75% to 2% currently.

Effr: 1.85%
Ioer: 1.8%

The Effr-Ioer spread is widening compared to the previous spread in September which denotes a monetary tightening condition.

The On RRR (1.7%) has breached the minimum rate (1.75%) set by the US FED which is signalling some financial stress in the monetary system.  This breach is caused by FED's intervention in the repo market.  Any of the 4 rates must not trade outside of the range set by the US FED (1.75%-2%).

https://sg-stock.blogspot.com/2019/10/the-us-fed-will-start-to-purchase-60b-t.html

Therefore, we can conclude that the US FED will cut interest rates again in October 2019 to keep itself relevant since it cannot keep the rates within the set range.

Baltic dry index - 1801

Today, Friday, October 25 2019, the Baltic Dry Index climbed by 16 points, reaching 1801 points.
Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points.
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Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count - 830


Related stock: Keppel Corp, Sembcorp Marine & Cosco.

Friday, October 25, 2019

First Reit - Stock calls

Date Analyst Company Last Target Call Valuation
01/16/19 phillip First Reit 1.04 0.88 Neutral DDM
01/17/19 Lim & Tan First Reit 1.03 0 Neutral
01/18/19 OCBC First Reit 1.01 0.97 Hold
01/18/19 CIMB First Reit 1.01 1.2 Add DDM
02/11/19 OCBC First Reit 1.14 0.97 Sell
04/11/19 CIMB First Reit 0.99 1.2 Add DDM
08/13/19 CIMB First Reit 1.06 1.23 Add

Far East Hospitality - Stock calls

Date Analyst Company Last Target Call Valuation
01/02/19 CIMB Far East Hospitality 0.605 0.68 Add
01/16/19 OCBC Far East Hospitality 0.625 0.675 Buy
02/07/19 OCBC Far East Hospitality 0.66 0.675 Buy
02/13/19 Lim & Tan Far East Hospitality 0.64 0 Buy
02/14/19 DBS Vickers Far East Hospitality 0.635 0.7 Buy DCF
02/14/19 CIMB Far East Hospitality 0.635 0.68 Add DDM
02/14/19 Kim Eng Far East Hospitality 0.635 0.75 Buy DDM
02/14/19 OCBC Far East Hospitality 0.635 0.68 Buy
04/15/19 OCBC Far East Hospitality 0.685 0.68 Hold
04/26/19 OCBC Far East Hospitality 0.66 0.67 Hold
04/26/19 DBS Vickers Far East Hospitality 0.66 0.7 Buy
04/29/19 CIMB Far East Hospitality 0.665 0.71 Add
04/29/19 Kim Eng Far East Hospitality 0.665 0.8 Buy
06/12/19 OCBC Far East Hospitality 0.645 0.67 Hold
06/25/19 Kim Eng Far East Hospitality 0.675 0.8 Buy
07/22/19 UOB Kay Hian Far East Hospitality 0.685 0.82 Buy DDM
07/31/19 OCBC Far East Hospitality 0.685 0.67 Hold
07/31/19 CIMB Far East Hospitality 0.685 0.68 Hold
08/01/19 DBS Vickers Far East Hospitality 0.68 0.7 Hold DCF
08/27/19 UOB Kay Hian Far East Hospitality 0.65 0.82 Buy
09/19/19 Kim Eng Far East Hospitality 0.675 0.8 Buy
10/09/19 DBS Vickers Far East Hospitality 0.69 0.7 Hold

F & N - Stock calls

Date Analyst Company Last Target Call Valuation
02/13/18 phillip F & N 2.39 2.83 Accumulate Sum of parts, PER27.1x FY18
03/19/18 phillip F & N 2.25 2.83 Buy
04/16/18 phillip F & N 2.12 2.83 Buy
05/10/18 phillip F & N 2.08 2.75 Buy Sum of parts
05/24/19 DMG & Partners F & N 1.73 3.53 Not Rated Sum of parts

Stock calls for 25 October 2019

Date Analyst Company Last Target Call Valuation
10/25/19 DBS Vickers Ascendas India Trust 1.55 1.65 Buy
10/25/19 DBS Vickers Centurion 0.41 0.52 Buy DCF
10/25/19 UOB Kay Hian Eagle Hospitality Trust 0.645 1.02 Buy DDM
10/25/19 OCBC ESR-Reit 0.54 0.58 Buy
10/25/19 Phillip Frasers Centrepoint Trust 2.75 3.11 Accumulate DDM
10/25/19 UOB Kay Hian Genting 0.925 1.11 Buy
10/25/19 DBS Vickers Sabana 0.455 0.48 Hold
10/25/19 DBS Vickers Sembcorp Industries 2.28 2.9 Buy
10/25/19 DBS Vickers Sembcorp Marine 1.4 1.45 Hold
10/25/19 DMG & Partners SGX 8.28 8.3 Neutral PER23x FY20
10/25/19 CIMB SGX 8.28 9 Add PER22.4x FY20
10/25/19 OCBC SGX 8.28 8.6 Hold PER22x FY20
10/25/19 DBS Vickers SGX 8.28 8.9 Buy
10/25/19 UOB Kay Hian Suntec Reit 1.89 1.99 Hold Buy @ $1.82
10/25/19 CIMB UMS 0.74 0.67 Hold PB1.4x FY20
10/25/19 Lim & Tan United Engineers 2.66 0 Sell

Thursday, October 24, 2019

Ezion - Stock calls

Date Analyst Company Last Target Call Valuation
02/07/19 DBS Vickers Ezion 0.05 0.06 Hold PB0.3x FY19
03/11/19 DBS Vickers Ezion 0.043 0.05 Hold PER10x F20
04/05/19 DBS Vickers Ezion 0.043 0.05 Hold PB1.4x

ESR Reit - Stock calls

Date Analyst Company Last Target Call Valuation
01/18/19 Lim & Tan ESR-Reit 0.53 0 Hold
01/21/19 CIMB ESR-Reit 0.53 0.62 Add DDM
01/21/19 OCBC ESR-Reit 0.53 0.575 Buy
01/22/19 DBS Vickers ESR-Reit 0.53 0.59 Buy
02/12/19 DMG & Partners ESR-Reit 0.515 0.61 Buy DDM
03/07/19 CIMB ESR-Reit 0.53 0.62 Add
03/13/19 DMG & Partners ESR-Reit 0.53 0.61 Buy
04/10/19 OCBC ESR-Reit 0.54 0.55 Hold
04/25/19 CIMB ESR-Reit 0.51 0.6 Add DDM
04/25/19 OCBC ESR-Reit 0.51 0.565 Buy
06/18/19 CIMB ESR-Reit 0.565 0.6 Add DDM
06/19/19 OCBC ESR-Reit 0.53 0.56 Buy
07/24/19 OCBC ESR-Reit 0.535 0.58 Buy
07/24/19 CIMB ESR-Reit 0.535 0.61 Add DDM
08/21/19 Citibank ESR-Reit 0.51 0.57 Buy

EC World Reit - Stock calls

Date Analyst Company Last Target Call Valuation
01/09/19 DMG & Partners EC World Reit 0.7 0.81 Buy
02/15/19 phillip EC World Reit 0.745 0.82 Buy
02/22/19 DBS Vickers EC World Reit 0.745 0.86 Buy DCF
02/25/19 DMG & Partners EC World Reit 0.755 0.84 Buy DDM
03/04/19 phillip EC World Reit 0.76 0.85 Buy DDM, PB0.84x FY19
03/18/19 DMG & Partners EC World Reit 0.77 0.84 Buy
05/07/19 DMG & Partners EC World Reit 0.77 0.84 Buy
05/14/19 DMG & Partners EC World Reit 0.79 0.85 Buy DDM
05/14/19 DBS Vickers EC World Reit 0.79 0.86 Buy
05/15/19 phillip EC World Reit 0.785 0.87 Buy DDM, PB0.93x
06/19/19 phillip EC World Reit 0.775 0.87 Buy
07/04/19 DMG & Partners EC World Reit 0.78 0.85 Buy
07/22/19 phillip EC World Reit 0.755 0.87 Buy
08/08/19 phillip EC World Reit 0.735 0.87 Buy DDM
08/08/19 DMG & Partners EC World Reit 0.735 0.82 Buy DDM
09/24/19 phillip EC World Reit 0.735 0.87 Buy
10/18/19 phillip EC World Reit 0.735 0.87 Buy

Stock calls for 24 October 2019

Date Analyst Company Last Target Call Valuation
10/24/19 OCBC CapitaCommercial 2.04 1.92 Hold
10/24/19 UOB Kay Hian CapitaCommercial 2.04 2.3 Buy
10/24/19 DMG & Partners Frasers Centrepoint Trust 2.72 2.55 Neutral DDM
10/24/19 OCBC Frasers Centrepoint Trust 2.72 2.75 Hold
10/24/19 UOB Kay Hian Frasers Centrepoint Trust 2.72 3.05 Buy
10/24/19 Lim & Tan Frasers Centrepoint Trust 2.72 0 Hold
10/24/19 OCBC Frasers Commercial Trust 1.65 1.76 Hold
10/24/19 CIMB Frasers Commercial Trust 1.65 1.71 Add DDM
10/24/19 OCBC Mapletree Industrial 2.52 2.55 Hold
10/24/19 UOB Kay Hian Mapletree Industrial 2.52 2.9 Buy
10/24/19 DBS Vickers Mapletree Industrial 2.52 2.75 Buy
10/24/19 DBS Vickers Starhub 1.32 1.3 Hold EV/Ebitda6x FY20
10/24/19 CIMB Starhub 1.32 1.65 Hold
10/24/19 Kim Eng Starhub 1.32 2 Buy
10/24/19 OCBC Suntec Reit 1.85 2.05 Hold
10/24/19 DBS Vickers UMS 0.705 0.87 Buy PER12x FY20