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Friday, November 8, 2019

Hong Leong Finance (HLF) - Stock calls

Date Analyst Company Last Target Call Valuation
02/28/19 Lim & Tan Hong Leong Finance 2.71 0 Buy
04/26/19 Lim & Tan Hong Leong Finance 2.8 0 Buy

Stock calls for 8 November 2019

Date Analyst Company Last Target Call Valuation
11/08/19 UOB Kay Hian CSE Global 0.53 0.7 Buy
11/08/19 Amfrasers CSE Global 0.53 0.61 Outperform Sum of parts
11/08/19 DBS Vickers CSE Global 0.53 0.69 Buy PER12x FY20
11/08/19 Kim Eng Genting 0.96 0.99 Hold EV/Ebitda7x FY20
11/08/19 DMG & Partners Genting 0.96 0.97 Neutral EV/Ebitda7x FY20
11/08/19 UOB Kay Hian Genting 0.96 1.11 Buy
11/08/19 SAC Advisors Hyphens Pharma 0.195 0.285 Buy
11/08/19 DMG & Partners Japan Foods 0.435 0.4 Neutral Sum of parts
11/08/19 DBS Vickers Mapletree Commercial 2.39 2.6 Buy DCF
11/08/19 CIMB Penguin 0.66 0.81 Add PB1x FY20
11/08/19 UOB Kay Hian Penguin 0.66 0.85 Buy
11/08/19 DBS Vickers SPH Reit 1.14 1.25 Buy
11/08/19 CIMB SPH Reit 1.14 1.16 Hold DDM
11/08/19 UOB Kay Hian Sunningdale 1.27 1.13 Hold PER12.3x FY20, Buy @ $1.05

Thursday, November 7, 2019

Why did India pull out of RCEP?

https://www.channelnewsasia.com/news/commentary/why-india-left-rejected-rcep-trade-asean-china-modi-12071704

The author of the article was very biased in his analysis and I would like to offer the alternative truth about the RCEP discussion by highlighting 2 main points.

First of all, India wanted to be accorded the same developing status as Myanmar and Cambodia in the RCEP accord and enjoy the same privileges as them.  However, India is not the same as Myanmar and Cambodia because its population size and GDP are much bigger than theirs.  Therefore, many developed countries under RCEP cannot accept India's demand.

Next, India wanted to be exempted from the farm and agricultural rules and regulations.  This demand was fervently rejected by New Zealand and Australia because they believe that there must be free trading of farm and agricultural products under RCEP.

In conclusion, it will be hard for India to join RCEP if it just wants to impose its demands on other countries without any reciprocation.  India will be missing out on a lot of things by pulling out of RCEP while the other countries under RCEP will flourish.

Hock Lian Seng - Stock calls

Date Analyst Company Last Target Call Valuation
08/02/19 Lim & Tan Hock Lian Seng 0.33 0 Buy on weakness

Ho Bee - Stock calls

Date Analyst Company Last Target Call Valuation
02/26/19 Lim & Tan Ho Bee 2.51 0 Buy
03/28/19 UOB Kay Hian Ho Bee 2.5 2.79 Buy RNAV (30% discount)
04/01/19 Lim & Tan Ho Bee 2.52 0 Buy
06/28/19 UOB Kay Hian Ho Bee 2.38 2.79 Buy

HMI - Stock calls

Date Analyst Company Last Target Call Valuation
01/23/19 phillip HMI 0.540 0.77 Buy
02/13/19 UOB Kay Hian HMI 0.535 0.73 Buy DCF
02/14/19 phillip HMI 0.550 0.77 Buy DCF
05/14/19 Kim Eng HMI 0.540 0.68 Buy DCF, PER27x FY20
05/15/19 phillip HMI 0.530 0.73 Buy DCF
05/15/19 CIMB HMI 0.530 0.68 Add DCF
05/15/19 UOB Kay Hian HMI 0.530 0.73 Buy DCF
05/16/19 Kim Eng HMI 0.545 0.66 Buy DCF
06/18/19 UOB Kay Hian HMI 0.635 0.73 Buy DCF
07/08/19 UOB Kay Hian HMI 0.660 0.73 Accept offer offer at $0.73
07/08/19 Kim Eng HMI 0.660 0.66 Hold DCF, accept offer at $0.73
07/08/19 CIMB HMI 0.660 0.68 Add offer at $0.73
07/09/19 phillip HMI 0.720 0.73 Accept offer offer at $0.73
08/20/19 Lim & Tan HMI 0.720 0.73 Accept offer offer at $0.73
08/21/19 Kim Eng HMI 0.720 0.73 Hold offer at $0.73

Stock calls for 7 November 2019

Date Analyst Company Last Target Call Valuation
11/07/19 DBS Vickers AIMS AMP Cap Ind Reit 1.4 1.5 Buy
11/07/19 UOB Kay Hian ARA Hospitality 0.86 1.16 Buy DDM
11/07/19 Amfrasers ARA Hospitality 0.86 0.99 Outperform DDM
11/07/19 DMG & Partners Avi-Tech 0.35 0.41 Buy DCF
11/07/19 OCBC Capitaland 3.66 4.42 Buy RNAV (15% discount)
11/07/19 Lim & Tan Citic Envirotech 0.37 0.55 Accept Offer offer price @ $0.55
11/07/19 Lim & Tan CSE Global 0.54 0 Buy
11/07/19 CIMB First Reit 1.05 1.2 Add
11/07/19 UOB Kay Hian First Resources 1.73 1.9 Buy
11/07/19 OCBC Frasers Logistics 1.26 1.28 Hold
11/07/19 DBS Vickers Frasers Logistics 1.26 1.4 Buy DCF
11/07/19 CIMB Frasers Logistics 1.26 1.31 Add
11/07/19 CIMB Frencken 0.72 0.94 Add
11/07/19 Amfrasers Frencken 0.72 0.93 outperform PER10x FY20
11/07/19 DBS Vickers Frencken 0.72 0.95 Buy PER9x FY20
11/07/19 DBS Vickers Mapletree Logistics 1.69 1.9 Buy
11/07/19 phillip OCBC 11.1 11.7 Accumulate GGM, PB1.1x
11/07/19 DBS Vickers PACC Offshore 0.21 0.22 Hold PB1x FY19
11/07/19 OCBC SIA 9.18 10.46 Buy
11/07/19 UOB Kay Hian SIA 9.18 9.4 Hold Buy @ $8.70
11/07/19 DBS Vickers SIA 9.18 10.4 Buy PB0.95x FY20
11/07/19 Phillip Starhub 1.43 1.58 Accumlate EV/Ebitda6x
11/07/19 OCBC Starhub 1.43 1.32 Hold
11/07/19 DBS Vickers Starhub 1.43 1.43 Buy EV/Ebitda6x

Wednesday, November 6, 2019

What's the big hoo-ha about Molotov cocktails in Chile?

https://sg.finance.yahoo.com/news/chilean-police-officers-set-fire-093056778.html

Hong Kong protestors also use Molotov cocktails against HK police.  This act by HK protestors is defined as peaceful protests by foreign media in HK.

Please do not exaggerate the act in Chile when the same act is happening in HK because it is just part and parcel of peaceful protests.

Hi-P - Stock calls

Date Analyst Company Last Target Call Valuation
01/08/19 Kim Eng Hi-P 0.965 0.68 Sell PB0.8x
02/22/19 DBS Vickers Hi-P 1.05 1.12 Hold PER10x FY19
02/25/19 Kim Eng Hi-P 1.14 1.22 Hold PB1.5x
03/13/19 Lim & Tan Hi-P 1.75 0 Avoid overvalued
04/09/19 Kim Eng Hi-P 1.63 1.22 Sell PB1.5x FY19
05/06/19 DBS Vickers Hi-P 1.44 1.41 Hold PER12x FY19
05/06/19 Kim Eng Hi-P 1.44 1.22 Sell PB1.5x FY19
06/11/19 Kim Eng Hi-P 1.29 1.22 Hold PB1.5x FY19
07/19/19 DBS Vickers Hi-P 1.43 1.41 Hold PER12x FY19
08/05/19 DBS Vickers Hi-P 1.34 1.32 Hold PER12x FY20
10/10/19 Kim Eng Hi-P 1.19 1.21 Hold PB1.5x FY19
11/01/19 DBS Vickers Hi-P 1.44 1.39 Hold
11/01/19 Kim Eng Hi-P 1.44 1.34 Sell PB1.5x FY20

Haw Par - Stock calls

Date Analyst Company Last Target Call Valuation
02/28/19 Lim & Tan Haw Par 12.39 0 Buy

GSS Energy - Stock calls

Date Analyst Company Last Target Call Valuation
01/07/19 DMG & Partners GSS Energy 0.097 0.19 Buy
03/04/19 DMG & Partners GSS Energy 0.112 0.17 Buy DCF
05/14/19 DMG & Partners GSS Energy 0.081 0.08 Neutral DCF
06/06/19 DMG & Partners GSS Energy 0.069 0.08 Neutral
08/20/19 DMG & Partners GSS Energy 0.074 0.08 Neutral DCF
10/08/19 DMG & Partners GSS Energy 0.066 0.08 Neutral

Stock calls for 6 November 2019

Date Analyst Company Last Target Call Valuation
11/06/19 DMG & Partners Capitaland 3.69 4.2 Buy RNAV (20% discount)
11/06/19 Lim & Tan Frasers Logistics 1.25 0 Hold
11/06/19 UOB Kay Hian Koufu 0.77 0.95 Buy
11/06/19 Macquarie OCBC 11.08 12.4 Outperform PB
11/06/19 Kim Eng OCBC 11.08 11.26 Hold DDM
11/06/19 UOB Kay Hian OCBC 11.08 14.45 Buy GGM, PB1.4x FY19
11/06/19 DBS Vickers OCBC 11.08 11.5 Hold GGM, PB1.1x FY20
11/06/19 CIMB SIA 9.43 10 Hold PB0.9x CY19
11/06/19 Kim Eng SIA 9.43 10.7 Buy PB1x FY21
11/06/19 CIMB Starhub 1.32 1.65 Add DCF
11/06/19 Kim Eng Starhub 1.32 2 Buy DCF
11/06/19 DMG & Partners Starhub 1.32 1.44 Neutral DCF
11/06/19 UOB Kay Hian Starhub 1.32 1.45 Hold Buy @ $1.25

Tuesday, November 5, 2019

Grand Venture - Stock calls

Date Analyst Company Last Target Call Valuation
04/04/19 CIMB Grand Venture 0.25 0.34 Add PER10x FY20
08/19/19 CIMB Grand Venture 0.22 0.22 Hold

Golden Energy - Stock calls

Date Analyst Company Last Target Call Valuation
02/13/19 phillip Golden Energy 0.245 0.36 Buy
03/07/19 phillip Golden Energy 0.235 0.3 Buy PER10x
04/26/19 phillip Golden Energy 0.215 0.3 Buy
05/24/19 phillip Golden Energy 0.198 0.24 Accumulate PER10x
06/03/19 phillip Golden Energy 0.198 0.24 Accumulate
07/04/19 phillip Golden Energy 0.225 0.24 Accumulate
08/23/19 phillip Golden Energy 0.188 0.19 Neutral PER10x

Golden Agri - Stock calls

Date Analyst Company Last Target Call Valuation
01/03/19 UOB Kay Hian Golden Agri 0.245 0.2 Sell
01/28/19 DMG & Partners Golden Agri 0.27 0.23 Sell Sum of parts, PER10x, cut from $0.39
02/20/19 OCBC Golden Agri 0.255 0.24 Hold
02/27/19 DMG & Partners Golden Agri 0.28 0.23 Sell Sum of parts
02/28/19 UOB Kay Hian Golden Agri 0.28 0.21 Sell
03/01/19 CIMB Golden Agri 0.275 0.23 Reduce Sum of parts (10% discount)
03/01/19 OCBC Golden Agri 0.275 0.27 Hold
04/09/19 OCBC Golden Agri 0.315 0.29 Hold PB0.65x
04/09/19 CIMB Golden Agri 0.315 0.23 Reduce
04/22/19 UOB Kay Hian Golden Agri 0.295 0.21 Sell
05/14/19 OCBC Golden Agri 0.275 0.29 Hold
05/15/19 DMG & Partners Golden Agri 0.275 0.23 Sell Sum of parts
05/27/19 OCBC Golden Agri 0.265 0.27 Hold
05/28/19 CIMB Golden Agri 0.26 0.23 Reduce Sum of parts (10% discount)
05/28/19 UOB Kay Hian Golden Agri 0.26 0.21 Sell
08/16/19 DMG & Partners Golden Agri 0.295 0.22 Sell Sum of parts
08/19/19 OCBC Golden Agri 0.29 0.27 Sell
09/30/19 DMG & Partners Golden Agri 0.23 0.25 Neutral Sum of parts
10/15/19 UOB Kay Hian Golden Agri 0.21 0.16 Sell PER13x FY20

Stock calls for 5 November 2019

Date Analyst Company Last Target Call Valuation
11/05/19 UOB Kay Hian A-Reit 3.12 3.28 Hold Buy @ $2.99
11/05/19 phillip DBS 26.13 27.6 Accumulate
11/05/19 DBS Vickers Koufu 0.755 0.88 Buy PER17x FY20
11/05/19 DMG & Partners Manulife US Reit 0.92 1 Buy DDM
11/05/19 DBS Vickers Manulife US Reit 0.92 1.1 Buy
11/05/19 Kim Eng Manulife US Reit 0.92 1.05 Buy
11/05/19 Phillip Micro-Mechanics 1.9 1.6 Reduce
11/05/19 OCBC Netlink 0.955 1.03 Buy
11/05/19 DBS Vickers Netlink 0.955 1.04 Buy DCF
11/05/19 Kim Eng Netlink 0.955 1.06 Buy
11/05/19 phillip OCBC 11.07 12.32 Accumulate
11/05/19 DMG & Partners OCBC 11.07 11.5 Neutral GGM, PB1.07x FY20
11/05/19 Lim & Tan OCBC 11.07 0 Buy
11/05/19 DBS Vickers Prime US Reit 0.94 1.05 Buy DCF
11/05/19 phillip Raffles Medical 1 1.05 Neutral DCF
11/05/19 Kim Eng Raffles Medical 1 1.07 Hold DCF
11/05/19 OCBC Raffles Medical 1 1.02 Hold
11/05/19 UOB Kay Hian SIA Engineering 2.77 3.13 Buy
11/05/19 DBS Vickers SIA Engineering 2.77 3.3 Buy Sum of parts
11/05/19 OCBC SIA Engineering 2.77 2.86 Hold
11/05/19 CIMB SIA Engineering 2.77 3.3 Add DCF
11/05/19 UOB Kay Hian Singapore Post 0.955 1.04 Hold Sum of parts, Buy @ $0.88
11/05/19 DBS Vickers Singapore Post 0.955 0.96 Hold DCF
11/05/19 OCBC Singapore Post 0.955 1.02 Hold

China has cut its loan rate finally since 2016.

https://www.reuters.com/article/us-china-economy-mlf/china-central-bank-cuts-medium-term-loan-rate-for-first-time-since-2016-as-growth-cools-idUSKBN1XF05K

We had stated that China would only cut its interest rate after it had figured out how to rein in its property prices.  We told you that China couldn't alienate itself from the global rate-cutting frenzy.

http://sg-stock.blogspot.com/2019/10/when-will-china-reduce-its-interest.html

True enough, China cut its interest rate after the announcement of its recent property measure.

President Trump is losing his republican's support.

https://finance.yahoo.com/news/president-trump-will-be-out-of-office-by-march-2020-says-anthony-scaramucci-210434593.html

The Republicans are trying to remove their own President by March 2020.  Hahaha!

It is not easy to impeach the US President as 2/3 of the congress members (including the Republicans) have to approve the impeachment.

Monday, November 4, 2019

GL Ltd - Stock calls

Date Analyst Company Last Target Call Valuation
02/07/19 Lim & Tan GL Ltd 0.735 1.76 Buy Sum of parts

Geo Energy - Stock calls

Date Analyst Company Last Target Call Valuation
01/04/19 phillip Geo Energy 0.176 0.245 Buy
02/13/19 phillip Geo Energy 0.198 0.245 Buy
03/18/19 phillip Geo Energy 0.183 0.245 Buy
03/25/19 phillip Geo Energy 0.186 0.215 Accumulate PER10x
03/26/19 Amfrasers Geo Energy 0.182 0.19 Hold DCF
04/26/19 phillip Geo Energy 0.176 0.215 Accumulate
05/29/19 phillip Geo Energy 0.148 0.15 Neutral PER10x
06/03/19 phillip Geo Energy 0.149 0.15 Neutral
07/04/19 phillip Geo Energy 0.155 0.15 Neutral
08/29/19 Amfrasers Geo Energy 0.15 0.14 Neutral DCF
09/24/19 Amfrasers Geo Energy 0.148 0.14 Neutral DCF