Stock calls for 18 November 2019

Date	Analyst	Company	Last	Target	Call	Valuation
11/18/19	Phillip	APAC Realty	0.5	0.55	Accumulate	DCF
11/18/19	CIMB	BRC Asia	1.47	1.9	Add
11/18/19	Lim & Tan	BRC Asia	1.47	1.8	Buy	DCF
11/18/19	Amfrasers	Eagle Hospitality Trust	0.535	0.61	Buy	DDM
11/18/19	Citibank	Frasers Centrepoint Trust	2.72	3	Buy
11/18/19	DBS Vickers	Frasers Property	1.82	2.05	Buy
11/18/19	Amfrasers	Frencken	0.92	0.93	Neutral	PER10x FY20
11/18/19	DMG & Partners	ISOTeam	0.24	0.31	Buy	DCF
11/18/19	UOB Kay Hian	ISOTeam	0.24	0.34	Buy
11/18/19	phillip	Propnex	0.515	0.59	Buy	DCF
11/18/19	Kim Eng	Sasseur	0.845	1	Buy	DDM
11/18/19	UOB Kay Hian	Sasseur	0.845	0.97	Buy
11/18/19	DBS Vickers	Sasseur	0.845	0.97	Buy
11/18/19	UOB Kay Hian	Sembcorp Industries	2.26	2.19	Hold	Buy @ $2
11/18/19	DBS Vickers	Sembcorp Industries	2.26	2.9	Buy	RNAV (10% discount), PB0.7x
11/18/19	DMG & Partners	Silverlake	0.43	0.46	Neutral	DCF
11/18/19	Phillip	Singtel	3.18	3.31	Accumulate	Sum of parts
11/18/19	DMG & Partners	Singtel	3.18	3.5	Neutral	Sum of parts
11/18/19	CIMB	Singtel	3.18	3.6	Add	Sum of parts
11/18/19	DBS Vickers	Singtel	3.18	3.12	Hold
11/18/19	OCBC	Singtel	3.18	3.53	Buy
11/18/19	DBS Vickers	Yangzijiang	1	1.68	Buy	Sum of parts

Singapore Nodx fell 12.3% in October.

https://sg.finance.yahoo.com/news/singapore-exports-shrink-eighth-month-023305843.html

Singapore has 9 negative growth months insofar in 2019.

Year on year changes (YOY):

October 2019 - 12.3%

September 2019: -8.1%

August 2019: - 8.9%

July 2019: -11.2%

June 2019: -17.3%

May 2019: -15.9%

April 2019: -10%

March 2019: -11.7%

February 2019: 4.9%

January 2019: -10.1%

December 2018: -8.5%

November 2018: -2.6%

October 2018: 8.3%

September 2018: 8.3%

August 2018: 5%

July 2018: 11.8% (Corrected)

June 2018: 1.1%

May 2018: 15.5%

April 2018: 11.8%

March 2018: -2.7%

February 2018: -5.9%

January 2018: 13%

December 2017: 3.1%

November 2017: 9.1%

October 2017: 20.9%

September 2017: -1.1%

August 2017: 16.7%

July 2017: 8.5%

June 2017: 8.2%
May 2017: -1.2%
Apr 2017: -0.7%
Mar 2017: 16.5%
Feb 2017: 21.1%
Jan 2017: 8.6%

http://sg-stock.blogspot.com/2019/10/singapores-september-nodx-fell-81-year.html

China cut repo rate after its MLF's cut.

https://sg.finance.yahoo.com/news/china-cuts-key-liquidity-rate-035639279.html

China has cut its repo rate after the MLF's cut.

China is more willing to ease its rates and embark on fiscal stimulus policy after implementing its new property measure and getting a recent benign property growth.

http://sg-stock.blogspot.com/2019/11/china-has-cut-its-loan-rate-finally.html

France is using police brutality on its yellow vest protestors.

Let me relate how hypocritical France is.

France used excessive forces on Catalan protestors and yellow vest protestors while telling China to communicate with HK protestors to resolve the issues during Macron's visit.

France, why are you not communicating with Catalan protestors and yellow vest protestors.  Instead, you chose to use excessive police forces on them while they're just doing some peaceful protests.

http://sg-stock.blogspot.com/2019/11/the-french-police-beat-up-catalan.html

Fight for democracy! Stand with yellow vest!

Ordinary HK citizens are fighting back. Get out, black tees!

As I've said before, when the government and police are weak, the rioters and protestors will rule the streets.

The black tees alleged the HK government of police brutality.  If there was indeed police brutality, the black tees would not be able to rule the streets.  If there was indeed police brutality, ordinary HK citizens would not need to fight off the black tees on their own because the police could deter the black tees.

The ordinary HK citizens have had enough of the black tees terrorizing them and are fighting back by clearing the streets.  When more and more ordinary HK citizens are fighting back and protecting their own communities, the black tees will have no place to run and hide.  This is why the black tees are retreating into campuses and turning the campuses into their forts.  This development usually becomes the last battleground.

How is that so?

When you don't have a fort, it is difficult to crumble you.  When you have a fort, this makes it very easy to decimate you.

Baltic dry index - 1357

Today, Friday, November 15 2019, the Baltic Dry Index decreased by 7 points, reaching 1357 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.

=======================

Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count - 806

Related stock: Keppel Corp, Sembcorp Marine & Cosco.

How the HK rioters terrorize ordinary citizens on the street! - Part 2

HK citizens are living in fear everyday now.  Fearful of the black tees!

Going out on HK streets means getting bashed up and burnt if unlucky.

How the HK rioters terrorize ordinary citizens on the street!

When ordinary people and shop owners saw the HK rioters approaching, they quickly rushed into the shops and pulled down the shutters.  I can see that these ordinary citizens are being terrified and terrorized by the HK rioters.  Furthermore, these HK rioters also stole their goods.

How the 70-year old HK man was killed by HK rioters!

The old man was just filming and he was killed by the HK rioters who threw bricks at him.

Jardine C&C - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/19	DBS Vickers	Jardine C&C	35.28	43.1	Buy
05/02/19	DBS Vickers	Jardine C&C	35.52	39.1	Buy	Sum of parts (16% discount)

Japfa - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/29/19	CIMB	Japfa	0.82	0.9	Add	Sum of parts
01/30/19	Kim Eng	Japfa	0.81	0.99	Buy
03/01/19	CIMB	Japfa	0.765	0.9	Add	Sum of parts
03/05/19	UOB Kay Hian	Japfa	0.705	0.98	Buy	Sum of parts, PER10.7x FY19
03/05/19	DBS Vickers	Japfa	0.705	0.8	Buy	Sum of parts (15% discount), PER11.4x FY19
03/14/19	CIMB	Japfa	0.715	0.63	Reduce	Sum of parts
03/21/19	Kim Eng	Japfa	0.65	1.05	Buy	Sum of parts
04/02/19	Kim Eng	Japfa	0.665	1.05	Buy
05/03/19	UOB Kay Hian	Japfa	0.605	0.73	Buy	Sum of parts
05/03/19	DBS Vickers	Japfa	0.605	0.61	Hold	Sum of parts (10% discount), PER14x FY19
05/27/19	Kim Eng	Japfa	0.575	0.93	Buy	Sum of parts
07/31/19	UOB Kay Hian	Japfa	0.515	0.48	Hold	Sum of parts, Buy @ $0.42
08/01/19	Kim Eng	Japfa	0.51	0.73	Buy	Sum of parts
08/05/19	DBS Vickers	Japfa	0.5	0.53	Hold	Sum of parts (10% discount), PER12.5x FY19
09/13/19	Kim Eng	Japfa	0.485	0.73	Buy	Sum of parts
11/01/19	UOB Kay Hian	Japfa	0.49	0.5	Hold	Sum of parts, Buy @ $0.44
11/01/19	DBS Vickers	Japfa	0.49	0.53	Hold
11/01/19	CIMB	Japfa	0.49	0.56	Add

Japan Foods - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/12/19	Amfrasers	Japan Foods	0.415	0.57	Hold	DCF
03/08/19	DMG & Partners	Japan Foods	0.43	0.45	Neutral
04/05/19	DMG & Partners	Japan Foods	0.435	0.45	Neutral
05/22/19	Amfrasers	Japan Foods	0.44	0.55	Neutral	DCF
05/23/19	DMG & Partners	Japan Foods	0.44	0.4	Hold
06/06/19	DMG & Partners	Japan Foods	0.43	0.4	Neutral
08/22/19	DMG & Partners	Japan Foods	0.435	0.4	Neutral	Sum of parts
11/08/19	DMG & Partners	Japan Foods	0.435	0.4	Neutral	Sum of parts
11/11/19	Amfrasers	Japan Foods	0.425	0.46	Neutral

Stock calls for 15 November 2019

Date	Analyst	Company	Last	Target	Call	Valuation
11/15/19	Amfrasers	Accordia Golf Trust	0.61	0.67	Outperform
11/15/19	OCBC	Golden Agri	0.245	0.26	Hold
11/15/19	DBS Vickers	MM2 Asia	0.285	0.3	Hold	Sum of parts, PER12.8x FY20
11/15/19	DBS Vickers	OUE Commercial	0.54	0.6	Buy	DCF
11/15/19	UOB Kay Hian	Propnex	0.525	0.62	Buy
11/15/19	OCBC	Sembcorp Industries	2.29	2.51	Hold	Sum of parts
11/15/19	DMG & Partners	Sembcorp Industries	2.29	2.68	Buy	Sum of parts (20% discount), PER10x FY20
11/15/19	Macquarie	Sembcorp Marine	1.28	1.4	Neutral	DCF
11/15/19	DBS Vickers	Sembcorp Marine	1.28	1.4	Hold	PB1.3x FY20
11/15/19	DBS Vickers	Silverlake	0.44	0.57	Buy	PER21x FY20
11/15/19	Lim & Tan	Singtel	3.3	0	Hold
11/15/19	DMG & Partners	Talkmed	0.505	0.62	Buy	DCF
11/15/19	DBS Vickers	Yoma	0.375	0.5	Buy	RNAV (45% discount)

HK rioters can kill ordinary citizen but police cannot kill any rioter.

https://www.channelnewsasia.com/news/asia/hong-kong-protests-elderly-man-injured-by-brick-dies-12095948

The HK rioters are insane now.  They're attacking ordinary residents to the extent that they're not afraid to kill anybody.

The aftermath of Mapletree NAC's mall in HK.

Please take a look at the extensive damage of Mapletree NAC's mall.

Is this a protest for democracy or destruction?

How did UK deal with riots in HK in 1967?

https://en.wikipedia.org/wiki/Hong_Kong_1967_leftist_riots

The current HK riot is not the first in HK history.  There was a leftist riot in HK in 1967 under the UK ruling.

In 1967, HK had about 3m population and 51 people were killed and close to 5,000 people were arrested.

In 2019, HK has about 7.5m population.  If the HK police were not restrained under China ruling, more people would have to die and more would be arrested.  If HK was still under the UK ruling, at least 100 people would die and 10,000 people would be arrested.

Therefore, Hongkongers should be thankful that they're under China's ruling now.

The HK riots rationalize the Tiananmen incident.

The violent riots and protests in HK have changed the mindsets of Chinese in China.  What the Chinese had seen in HK recently had reinforced their belief that the communist party had done the right thing for the Tiananmen incident because they would suffer hardships and couldn't walk safely on the street if there was no violent crackdown by the communist party.

When the government and police are weak, the rioters and protestors will rule the streets and ordinary citizens cannot live a peaceful and orderly life.  The ordinary citizens have lost their freedom to go out for fear of being beaten up and burnt, and they cannot go to work to support their livelihoods.

The tourism industry is severely disrupted and affected by such violent acts.

https://www3.nhk.or.jp/nhkworld/en/news/20191112_06/

Once again, I would like to urge Singaporeans to be very careful in HK because we're being specifically targeted.

Singaporeans, please be very careful in HK!

https://sg.news.yahoo.com/dbs-branch-in-hong-kong-vandalised-with-vulgar-messages-directed-at-pm-lee-pap-091705028.html

HK DBS was targeted and PM Lee and PAP were named as the cause.

Singaporeans have to be extremely careful in HK since we'll be specifically targeted because of PM Lee and PAP.

Jadason - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	CIMB	Jadason	0.02	0.066	Add
05/13/19	CIMB	Jadason	0.038	0.059	Add	PB1x CY19