Baltic dry index - 1558

Today, Friday, December 06 2019, the Baltic Dry Index decreased by 17 points, reaching 1558 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 - 799

Related stock: Keppel Corp, Sembcorp Marine & Cosco.

Riverstone - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/27/19	CIMB	Riverstone	1.1	1.22	Add	PER16.7x FY20
02/27/19	DBS Vickers	Riverstone	1.1	1.19	Hold	PER16x FY19
05/14/19	CIMB	Riverstone	0.995	1.22	Add	PER16.5x FY20
05/16/19	DBS Vickers	Riverstone	0.975	1.03	Hold	PER16.8x FY19/20
08/13/19	DBS Vickers	Riverstone	0.9	1.16	Buy	PER14.5x FY20
11/11/19	CIMB	Riverstone	0.985	1.25	Add
11/11/19	DBS Vickers	Riverstone	0.985	1.16	Buy	PER14.5x FY20

Raffles Medical - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/19	phillip	Raffles Medical	1.11	1.16	Accumulate
02/20/19	UOB Kay Hian	Raffles Medical	1.12	1.3	Buy	DCF
02/26/19	DMG & Partners	Raffles Medical	1.12	1.02	Neutral	DCF
02/26/19	OCBC	Raffles Medical	1.12	1.25	Buy
02/26/19	DBS Vickers	Raffles Medical	1.12	1.12	Hold	Sum of parts, PER27x FY18/19
02/26/19	phillip	Raffles Medical	1.12	1.09	Neutral	DCF
04/30/19	DMG & Partners	Raffles Medical	1.07	1.02	Neutral
05/02/19	phillip	Raffles Medical	1.08	1.09	Neutral	DCF
05/02/19	DBS Vickers	Raffles Medical	1.08	1.12	Hold	Sum of parts
05/14/19	Kim Eng	Raffles Medical	1.02	1.13	Hold	DCF
06/12/19	CIMB	Raffles Medical	1.02	1.1	Hold
07/30/19	UOB Kay Hian	Raffles Medical	1.03	1.27	Buy	DCF
07/30/19	DMG & Partners	Raffles Medical	1.03	1.02	Neutral
07/30/19	DBS Vickers	Raffles Medical	1.03	1.12	Hold	Sum of parts
07/31/19	phillip	Raffles Medical	1.04	1.09	Neutral	DCF
07/31/19	Kim Eng	Raffles Medical	1.04	1.05	Hold	DCF
07/31/19	OCBC	Raffles Medical	1.04	1.06	Hold
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
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

Q & M - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/19	phillip	Q & M	0.495	0.513	Neutral

Stock calls for 6 December 2019

Date	Analyst	Company	Last	Target	Call	Valuation
12/06/19	Phillip	A-Reit	3.01	3.25	Accumulate
12/06/19	Morgan Stanley	A-Reit	3.01	3.04	Overweight
12/06/19	Macquarie	A-Reit	3.01	2.7	Neutral
12/06/19	DMG & Partners	Comfortdelgro	2.4	2.38	Neutral	DCF
12/06/19	DBS Vickers	Lendlease Reit	0.92	1.05	Buy	DCF
12/06/19	DBS Vickers	Mapletree North Asia	1.15	1.3	Buy	DCF
12/06/19	UOB Kay Hian	Penguin	0.725	0.85	Buy
12/06/19	Amfrasers	Sunpower	0.55	0.91	outperform	Sum of parts

Propnex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/27/19	UOB Kay Hian	Propnex	0.565	0.66	Buy
04/01/19	UOB Kay Hian	Propnex	0.595	0.66	Buy
05/16/19	UOB Kay Hian	Propnex	0.505	0.6	Buy	DCF, PER10x FY19
06/03/19	phillip	Propnex	0.5	0.63	Buy	DCF
06/07/19	CIMB	Propnex	0.49	0.64	Add
08/16/19	UOB Kay Hian	Propnex	0.505	0.5	Hold
08/19/19	phillip	Propnex	0.5	0.59	Buy	DCF
10/11/19	phillip	Propnex	0.49	0.59	Buy
10/14/19	UOB Kay Hian	Propnex	0.49	0.56	Buy	PER12x FY20
11/15/19	UOB Kay Hian	Propnex	0.525	0.62	Buy	PER12x FY20
11/18/19	phillip	Propnex	0.515	0.59	Buy	DCF
11/25/19	CIMB	Propnex	0.515	0.68	Add

Prime US Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/05/19	DBS Vickers	Prime US Reit	0.94	1.05	Buy	DCF

Perennial Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/14/19	DBS Vickers	Perennial Reit	0.645	0.83	Buy	RNAV (55% discount)
04/24/19	DBS Vickers	Perennial Reit	0.65	0.83	Buy	RNAV (55% discount)
05/13/19	DBS Vickers	Perennial Reit	0.64	0.83	Buy	RNAV (55% discount)

Stock calls for 5 December 2019

Date	Analyst	Company	Last	Target	Call	Valuation
12/05/19	OCBC	Mapletree North Asia	1.16	1.41	Buy
12/05/19	CIMB	Singtel	3.4	3.7	Add	Sum of parts
12/05/19	Kim Eng	UMS	0.95	1.13	Buy	PB2.2x FY20
12/05/19	DMG & Partners	Unusual	0.27	0.42	Buy	DCF

Hot news! Russia had provided some HK intelligence to China.

https://sputniknews.com/asia/201912021077466396-why-are-ukrainian-neo-nazis-joining-the-hong-kong-protests/

The Ukranian neo-nazis had participated in HK protests and the dudes had been identified by Russia.

It was said that these dudes were financed by NED to create chaos in HK.

The HK rioters cannot organize large protests anymore.

https://sg.news.yahoo.com/hong-kong-protests-crowds-shrink-092511072.html

We've stated this before in our previous post.

http://sg-stock.blogspot.com/2019/11/what-is-hong-kongs-future-now.html

The HK rioters can no longer organize large protests anymore because they lack funds and citizens' support.  The ordinary residents have given up on these rioters because they've seen how the rioters terrorize ordinary people.

Penguin - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/26/19	phillip	Penguin	0.45	0.61	Buy	PER5x FY19 (ex-cash)
05/21/19	phillip	Penguin	0.44	0.61	Buy	PER5x FY19 (ex-cash)
05/27/19	CIMB	Penguin	0.445	0.72	Add	PB1x FY19
08/07/19	phillip	Penguin	0.495	0.61	Buy	PER5x FY19 (ex-cash)
10/09/19	UOB Kay Hian	Penguin	0.62	0.85	Buy	PER7.6x FY2020
11/08/19	CIMB	Penguin	0.66	0.81	Add	PB1x FY20
11/08/19	UOB Kay Hian	Penguin	0.66	0.85	Buy
11/11/19	phillip	Penguin	0.7	0.93	Buy	PER5x FY20 (ex-cash)

Parkway Life - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/30/19	DBS Vickers	Parkway Life	2.8	3.1	Buy
03/18/19	UOB Kay Hian	Parkway Life	2.88	3.25	Buy	DDM
04/01/19	UOB Kay Hian	Parkway Life	2.92	3.25	Buy	DDM
05/02/19	UOB Kay Hian	Parkway Life	2.89	3.25	Buy
07/31/19	Lim & Tan	Parkway Life	3.06	0	Hold
08/01/19	UOB Kay Hian	Parkway Life	3.06	3.25	Buy
08/01/19	DBS Vickers	Parkway Life	3.06	3.35	Buy
10/31/19	Lim & Tan	Parkway Life	3.24	0	Hold
11/01/19	UOB Kay Hian	Parkway Life	3.27	3.58	Buy	DDM
11/01/19	CIMB	Parkway Life	3.27	3.26	Hold

Pacific Century - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/04/19	Lim & Tan	Pacific Century	0.385	0	Buy

Stock calls for 4 December 2019

Date	Analyst	Company	Last	Target	Call	Valuation
12/04/19	DBS Vickers	CapitaCommercial	2.01	2.3	Buy
12/04/19	phillip	DBS	24.98	27.3	Accumulate
12/04/19	UOB Kay Hian	IHH Healthcare	1.74	1.94	Buy	Sum of parts, Ringgit $5.93 target price
12/04/19	DBS Vickers	Keppel Reit	1.23	1.45	Buy
12/04/19	phillip	OCBC	10.68	11.7	Accumulate
12/04/19	DBS Vickers	OUE Commercial	0.56	0.6	Buy
12/04/19	DBS Vickers	Suntec Reit	1.83	2.15	Buy
12/04/19	phillip	UOB	25.54	27.8	Accumulate

PACC Offshore - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/26/19	DBS Vickers	PACC Offshore	0.183	0.2	Hold	PB0.8x FY19
05/14/19	DBS Vickers	PACC Offshore	0.173	0.2	Hold	PB0.8x FY19
08/08/19	DBS Vickers	PACC Offshore	0.145	0.15	Hold	PB0.6x
11/07/19	DBS Vickers	PACC Offshore	0.21	0.22	Hold	PB1x FY19

Oxley - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/02/19	DBS Vickers	Oxley	0.325	0.68	Buy
06/13/19	DMG & Partners	Oxley	0.31	0.41	Buy	RNAV (45% discount)
09/11/19	DMG & Partners	Oxley	0.31	0.41	Buy
09/24/19	DMG & Partners	Oxley	0.305	0.43	Buy	RNAV (45% discount)
09/25/19	UOB Kay Hian	Oxley	0.31	0.64	Buy	RNAV (30% discount)
10/02/19	DMG & Partners	Oxley	0.32	0.43	Buy
10/15/19	DMG & Partners	Oxley	0.325	0.43	Buy	RNAV (45% discount)
10/29/19	UOB Kay Hian	Oxley	0.34	0.5	Buy	RNAV (30% discount)
11/14/19	DMG & Partners	Oxley	0.345	0.43	Buy	RNAV (45% discount)

Overseas Edu - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/23/19	UOB Kay Hian	Overseas Edu	0.33	0.46	Buy	EV/Ebitda10.4x
05/08/19	UOB Kay Hian	Overseas Edu	0.3	0.46	Buy	EV/Ebitda10.4x
05/08/19	Lim & Tan	Overseas Edu	0.3	0.48	Buy	DDM & DCF
08/19/19	UOB Kay Hian	Overseas Edu	0.285	0.46	Buy
09/11/19	Lim & Tan	Overseas Edu	0.29	0	Buy
11/12/19	UOB Kay Hian	Overseas Edu	0.285	0.46	Buy

Stock calls for 3 December 2019

Date	Analyst	Company	Last	Target	Call	Valuation
12/03/19	Kim Eng	A-Reit	2.97	3.35	Buy	DDM
12/03/19	DMG & Partners	DBS	25.13	25.8	Neutral
12/03/19	DMG & Partners	Frasers Commercial Trust	1.71	1.68	Take Profit	PB1.05x
12/03/19	CIMB	Frasers Commercial Trust	1.71	1.71	Add
12/03/19	CIMB	Frasers Logistics	1.24	1.31	Add
12/03/19	DMG & Partners	Jumbo	0.37	0.44	Buy	DCF
12/03/19	DMG & Partners	OCBC	10.75	11.5	Neutral
12/03/19	DBS Vickers	OCBC	10.75	11.5	Hold
12/03/19	Kim Eng	Singtel	3.46	3.72	Hold	Sum of parts
12/03/19	UOB Kay Hian	Thai Beverage	0.89	0.9	Hold	Sum of parts
12/03/19	Amfrasers	Uni-Asia	0.73	1.24	Outperform	Sum of parts, PB0.6x FY20, PER8.5x FY20
12/03/19	DBS Vickers	UOB	25.77	29.2	Buy
12/03/19	DMG & Partners	UOB	25.77	29.5	Buy
12/03/19	Lim & Tan	UOL	7.79	0	Buy