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Wednesday, November 13, 2019

Stock calls for 13 November 2019

Date Analyst Company Last Target Call Valuation
11/13/19 DBS Vickers Bumitama 0.62 0.72 Buy DCF
11/13/19 Kim Eng Bumitama 0.62 0.8 Buy
11/13/19 UOB Kay Hian City Developments 10.67 12 Buy
11/13/19 DMG & Partners Delfi 0.955 1.68 Buy DCF
11/13/19 Kim Eng First Resources 1.78 1.86 Hold PER18x FY20
11/13/19 UOB Kay Hian First Resources 1.78 1.85 Buy
11/13/19 DBS Vickers First Resources 1.78 1.95 Buy DCF
11/13/19 UOB Kay Hian SATS 5.09 5.3 Buy
11/13/19 OCBC Sembcorp Marine 1.34 1.24 Sell
11/13/19 DMG & Partners Singapore Medical 0.325 0.36 Neutral DCF
11/13/19 DBS Vickers UMS 0.81 1 Buy PER13x FY20
11/13/19 OCBC UOL 7.91 9.25 Buy
11/13/19 Lim & Tan UOL 7.91 0 Buy on weakness
11/13/19 DMG & Partners Wilmar 3.85 4.75 Buy Sum of parts

The French police beat up Catalan protestors.

https://www.washingtonpost.com/world/europe/french-police-clear-protesters-at-spanish-border-crossing/2019/11/12/ae1d91d2-052f-11ea-9118-25d6bd37dfb1_story.html

French supported the HK protestors and accused the HK police of using excessive force.  How times have changed so fast!

The French police also used baton and pepper spray against the Catalan protestors.  Please don't forget that the HK protestors support the Catalan protestors.  How could the french police use excessive force against Catalan protestors when the French condemned HK police brutality against the HK protestors?

The French police should stop bullying and abusing the Catalan protestors when the French were condemning the same police act in HK.

Tuesday, November 12, 2019

IHH Healthcare - Stock calls

Date Analyst Company Last Target Call Valuation
01/17/19 Kim Eng IHH Healthcare 1.86 2.13 Buy Sum of parts, Ringgit $6.45 target price
03/01/19 Kim Eng IHH Healthcare 1.85 2.29 Buy Sum of parts, Ringgit $6.90 target
05/31/19 UOB Kay Hian IHH Healthcare 1.79 2.07 Buy Ringgit $6.30 target price, PER32.8x FY2020
06/12/19 CIMB IHH Healthcare 1.84 2.09 Add Ringgit $6.37 target price
07/31/19 Kim Eng IHH Healthcare 1.88 2.16 Buy Sum of parts, Ringgit $6.50 target price
09/09/19 Kim Eng IHH Healthcare 1.85 2.1 Hold Sum of parts, Ringgit $6.30 target price

IFS Capital - Stock calls

Date Analyst Company Last Target Call Valuation
01/15/19 Amfrasers IFS Capital 0.225 0.29 Buy PB0.7x FY18
08/26/19 Amfrasers IFS Capital 0.22 0.3 Outperform PB0.6x FY20

Ifast Corp - Stock calls

Date Analyst Company Last Target Call Valuation
02/21/19 DBS Vickers Ifast Corp 1.11 1.19 Hold DDM
04/30/19 DBS Vickers Ifast Corp 1.12 1.05 Hold DDM
07/30/19 DBS Vickers Ifast Corp 1.1 1.05 Hold DDM
11/01/19 DBS Vickers Ifast Corp 1.01 1.05 Hold DDM

Stock calls for 12 November 2019

Date Analyst Company Last Target Call Valuation
11/12/19 Phillip APTV 0.171 0.165 Neutral EV/Ebitda9.5x
11/12/19 DMG & Partners Bumitama 0.595 0.69 Buy PER16x FY20
11/12/19 UOB Kay Hian CDL Hospitality 1.58 2.05 Buy
11/12/19 Amfrasers China Sunsine 1.03 1.2 Outperform DCF
11/12/19 Macquarie DBS 26.64 25.8 Neutral PB
11/12/19 phillip DBS 26.64 27.3 Accumulate GGM, PB1.4x
11/12/19 DMG & Partners DBS 26.64 25.8 Neutral GGM, PB1.28x FY20
11/12/19 Kim Eng DBS 26.64 29.92 Buy DDM
11/12/19 UOB Kay Hian DBS 26.64 30 Buy
11/12/19 phillip EC World Reit 0.74 0.84 Buy DDM
11/12/19 DBS Vickers EC World Reit 0.74 0.86 Buy DCF
11/12/19 DMG & Partners First Resources 1.73 1.95 Buy PER18x FY20
11/12/19 DMG & Partners Food Empire 0.54 0.73 Buy
11/12/19 UOB Kay Hian Fu Yu 0.225 0.285 Buy
11/12/19 UOB Kay Hian Keppel Corp 6.86 7.61 Buy
11/12/19 Lim & Tan KSH 0.465 0 Buy
11/12/19 DBS Vickers Mapletree North Asia 1.23 1.6 Buy
11/12/19 UOB Kay Hian Overseas Edu 0.285 0.46 Buy
11/12/19 UOB Kay Hian Sembcorp Marine 1.33 1.22 Sell
11/12/19 DBS Vickers ST Engineering 4 4.64 Buy
11/12/19 CIMB ST Engineering 4 4.47 Add
11/12/19 Kim Eng ST Engineering 4 4.5 Buy
11/12/19 OCBC ST Engineering 4 4.64 Buy
11/12/19 DMG & Partners ST Engineering 4 4.55 Buy Sum of parts
11/12/19 UOB Kay Hian ST Engineering 4 4.32 Buy
11/12/19 UOB Kay Hian Wilmar 3.83 4.4 Buy
11/12/19 UOB Kay Hian Yangzijiang 0.98 1.46 Buy

The HK rioters burnt a man who disagreed with their act.

https://sg.news.yahoo.com/hong-kong-father-two-burned-115921690.html

This is outrageous and inhumane.  The HK rioters burnt a man who disagreed with their vandalism act.

It is time for the HK police to get tough with these rioters so that ordinary citizens can be protected.

HK is becoming a lawless city now because these rioters think they're the laws or above the laws.

Monday, November 11, 2019

The US loves to poison Asia!

https://sg.news.yahoo.com/thailand-wants-ban-three-pesticides-070030802.html

The US loves to poison Asia with its chemical-laced meats and farming chemicals.

Asia must unite together to ban these farming chemicals from the US.

Hyphens Pharma - Stock calls

Date Analyst Company Last Target Call Valuation
07/03/19 DMG & Partners Hyphens Pharma 0.196 0.25 Buy DCF, PER12.2x FY19
08/20/19 DMG & Partners Hyphens Pharma 0.2 0.25 Buy DCF
10/15/19 DMG & Partners Hyphens Pharma 0.199 0.25 Buy
11/08/19 SAC Advisors Hyphens Pharma 0.195 0.285 Buy

Hutchison Port - Stock calls

Date Analyst Company Last Target Call Valuation
02/13/19 OCBC Hutchison Port 0.26 0.22 Sell
02/13/19 DBS Vickers Hutchison Port 0.26 0.26 Hold DCF
02/25/19 OCBC Hutchison Port 0.235 0.22 Hold
04/30/19 OCBC Hutchison Port 0.24 0.22 Hold
04/30/19 DBS Vickers Hutchison Port 0.24 0.26 Hold
07/25/19 OCBC Hutchison Port 0.225 0.22 Hold
07/26/19 DBS Vickers Hutchison Port 0.225 0.23 Hold DCF
09/06/19 OCBC Hutchison Port 0.22 0.17 Hold
10/30/19 OCBC Hutchison Port 0.158 0.155 Hold

HRnetGroup - Stock calls

Date Analyst Company Last Target Call Valuation
01/02/19 DMG & Partners HRnetGroup 0.8 1.18 Buy DCF
02/25/19 DMG & Partners HRnetGroup 0.795 1.06 Buy DCF
02/26/19 DBS Vickers HRnetGroup 0.8 1.05 Buy PER15x FY19, ex-cash
03/13/19 DMG & Partners HRnetGroup 0.79 1.06 Buy
03/26/19 CIMB HRnetGroup 0.765 1.03 Add
05/07/19 DMG & Partners HRnetGroup 0.77 1.06 Buy DCF
05/13/19 DMG & Partners HRnetGroup 0.77 0.94 Buy DCF
05/14/19 DBS Vickers HRnetGroup 0.76 0.85 Hold PER16x FY19, ex-cash
06/06/19 DMG & Partners HRnetGroup 0.71 0.94 Buy
06/13/19 CIMB HRnetGroup 0.72 1.01 Add PER18x CY20
08/14/19 DMG & Partners HRnetGroup 0.66 0.94 Buy DCF
10/15/19 DMG & Partners HRnetGroup 0.58 0.94 Buy
11/11/19 CIMB HRnetGroup 0.64 0.83 Add
11/11/19 DMG & Partners HRnetGroup 0.64 0.81 Buy DCF

Stock calls for 11 November 2019

Date Analyst Company Last Target Call Valuation
11/11/19 UOB Kay Hian A-Reit 2.89 3.25 Buy
11/11/19 DMG & Partners DBS 26.61 25.3 Neutral GGM, PB1.23x FY20
11/11/19 Lim & Tan DBS 26.61 0 Buy on weakness
11/11/19 DMG & Partners Frencken 0.76 0.82 Buy DCF
11/11/19 CIMB HRnetGroup 0.64 0.83 Add
11/11/19 DMG & Partners HRnetGroup 0.64 0.81 Buy DCF
11/11/19 Amfrasers Japan Foods 0.425 0.46 Neutral
11/11/19 phillip Penguin 0.7 0.93 Buy PER5x FY20 (ex-cash)
11/11/19 CIMB Riverstone 0.985 1.25 Add
11/11/19 DBS Vickers Riverstone 0.985 1.16 Buy PER14.5x FY20
11/11/19 UOB Kay Hian Singtel 3.35 3.32 Hold Buy @ $3
11/11/19 DMG & Partners ST Engineering 4.12 4.7 Buy Sum of parts
11/11/19 Phillip Venture 16.6 17.18 Accumulate PER14x FY19
11/11/19 Kim Eng Venture 16.6 16.91 Hold PB1.8x FY20
11/11/19 DMG & Partners Venture 16.6 16.3 Neutral PER13x FY19
11/11/19 CIMB Venture 16.6 16.88 Hold PER12.5x
11/11/19 UOB Kay Hian Venture 16.6 16.67 Hold PER14x FY20
11/11/19 DBS Vickers Venture 16.6 17.2 Hold PER13.7x FY20
11/11/19 Lim & Tan Venture 16.6 0 Sell

Hang Seng Index fell heavily because of police shooting on 1st weekday.

The HK police should have taken a tough stance from the beginning so that these rioters would not be emboldened to challenge the police by obstructing them from carrying out their police duties.

I'm glad that the HK police have taken a harder stance now by shooting the rioters.  This will send a crystal clear signal to the rioters that the police will not hesitate to fire if the rioters challenge the police.  No government in the world will allow rioters to challenge the police.  Singapore also won't allow it.

Sunday, November 10, 2019

What is Samsung trying to do in China?

https://www.reuters.com/article/us-samsung-elec-china/samsung-ends-mobile-phone-production-in-china-idUSKBN1WH0LR

Samsung had shut down its manufacturing plant in China last month and moved its production to Thailand.  Many analysts were convinced that the shutdown was due to the US-China tariffs and Samsung was trying to evade the US-China tariffs by shifting its production to other Asian countries.

However, Samsung outsourced 20% of its mobile phone production (60m units) to China after the shutdown when it could produce the 60m units in its own plant in Korea, Vietnam, India or even Thailand.

https://www.gizmochina.com/2019/10/30/samsung-will-boost-odm-smartphone-orders-in-2020-to-stay-ahead-of-chinese-competitors/

It was supposed to be cheaper to manufacture the 60m units in its own China's plant since its plant was producing 63m units in 2017.  Why did Samsung want to benefit the ODM in China?

The truth is Samsung realizes by now that it makes a strategic mistake by being short-sighted with the pullout and it wants to appease the China government with 60m units order.  This outsourced order was supposed to be much larger but Samsung shrunk it after intense discussion with the Korean government.

Saturday, November 9, 2019

The US national debt has exceeded US$23T.


Are you worried about the unbridled US national debt?

Please share your thoughts with us.

Hong Kong is a financial hub because of China.

Many analysts don't understand the truth behind the financial hub status of HK.  HK is able to be a financial hub because China gives preferential treatment to HK as it regards HK as a long lost child.

China has to suppress Shenzhen's economic developments just to let HK continue to prosper. Why did I say this?  Shenzhen is a technological and logistics hub that has all the opportunities to overtake HK as a financial hub because technological titans like Alibaba and Tencent set up its HQs in Shenzhen.  In other words, Shenzhen is often touted as the Silicon Valley of China.  Furthermore, Shenzhen's GDP had already surpassed HK's.

https://www.chinadaily.com.cn/a/201902/28/WS5c7720fda3106c65c34ebd70.html

However, many analysts think that HK is the financial conduit for China since many foreign funds get into China through HK.  Therefore, they think that China needs HK for foreign capital more than HK needs China for its financial hub status.

Let me debunk this perception.  The truth is China allows HK to be its financial conduit even though China has other alternatives.

China doesn't need HK for its foreign funding and it doesn't have any financial merit to use HK to get funding other than for the political reason to bolster HK's financial hub status and economic developments.

Ever since the EU adopted a negative yield policy, it would have more financial merit to get foreign funding in the EU than in HK because of the interest rate differentials between EU and HK.

A 1-year bond yield in HK is 2.9%.

http://www.xinhuanet.com/english/2019-11/07/c_138536926.htm

A 20-year bond yield in the EU is 1.078% and the 7-year bond yield is only 0.197%.  Currently, China's MLF is 3.25%.  Therefore, China can make a risk-free gain of at least 3% by issuing a 7-year bond yield in the EU.  Furthermore, China's bonds are highly coveted in the EU now because they are highly oversubscribed.

https://www.chinadaily.com.cn/a/201911/07/WS5dc35266a310cf3e35575d95.html

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

The current generation in HK is trying to destroy HK's success and HK will lose its financial hub status and vibrancy when China cannot tolerate the irrational and illogical mindsets of the current Hongkongers.  HK should cherish what it has now and not regret its actions after losing all the privileges that China bestows to HK.

Baltic dry index - 1378

Today, Friday, November 08 2019, the Baltic Dry Index decreased by 50 points, reaching 1378 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 - 817


Related stock: Keppel Corp, Sembcorp Marine & Cosco.

Friday, November 8, 2019

Hotel Properties (HPL) - Stock calls

Date Analyst Company Last Target Call Valuation
02/27/19 Lim & Tan Hotel Properties 3.76 0 Hold
04/17/19 OCBC Hotel Properties 3.88 4.74 Buy
07/15/19 OCBC Hotel Properties 3.69 4.74 Buy

Hongkong Land - Stock calls

Date Analyst Company Last Target Call Valuation
01/17/19 DBS Vickers Hongkong Land 6.92 7.86 Buy
01/17/19 Citibank Hongkong Land 6.92 5.9 Sell
03/01/19 DBS Vickers Hongkong Land 6.77 8.02 Buy RNAV (40% discount)
03/01/19 Citibank Hongkong Land 6.77 6.45 Sell
05/10/19 DBS Vickers Hongkong Land 6.97 8.02 Buy RNAV (40% discount)
08/02/19 DBS Vickers Hongkong Land 6.09 7.93 Buy
08/05/19 DBS Vickers Hongkong Land 6.02 7.7 Buy RNAV (40% discount)
08/06/19 CIMB Hongkong Land 5.74 7.4 Add
08/06/19 Citibank Hongkong Land 5.74 5.85 Sell