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
11/19/19	Lim & Tan	Ho Bee	2.34	0	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

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

Stock calls for 6 February 2020

Date	Analyst	Company	Last	Target	Call	Valuation
02/06/20	Tayrona	Clearbridge	0.139	0.41	Overweight
02/06/20	DBS Vickers	Comfortdelgro	2.14	2.45	Buy	DCF, PER18.1x FY20
02/06/20	UOB Kay Hian	First Resources	1.78	2.1	Buy
02/06/20	DMG & Partners	Manulife US Reit	1.04	1.12	Buy	DDM
02/06/20	DBS Vickers	Manulife US Reit	1.04	1.15	Buy	DCF
02/06/20	Lim & Tan	Manulife US Reit	1.04	0	Hold
02/06/20	CIMB	SATS	4.46	4.07	Reduce
02/06/20	CIMB	SIA	8.59	8.46	Hold

Total reported coronavirus cases in China.

The official figures from the Central Government might have underdeclared the true situation in China.  Let's just take these with a heavy pinch of salt.

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	DCF

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

Stock calls for 5 February 2020

Date	Analyst	Company	Last	Target	Call	Valuation
02/05/20	Phillip	ART	1.24	1.53	Buy	DDM
02/05/20	Lim & Tan	CSE Global	0.51	0.68	Buy
02/05/20	UOB Kay Hian	Food Empire	0.66	0.89	Buy

The real situation in Wuhan.

https://nypost.com/2020/01/24/coronavirus-outbreak-video-shows-dead-bodies-in-halls-of-china-hospital/

There is speculation that the true situation in China is 10x more than the official numbers.

The cremation facilities in Wuhan are working 24/7 now to burn the corpses and this has been on-going for the past few days.

 If the death toll is only 490, the cremation facilities will not need to operate 24/7 for the past few days to burn the corpses.  Many corpses are piling up at the cremation facilities now.

China has acknowledged that the coronavirus has mutated.

https://www.cnbc.com/2020/02/04/researchers-say-the-coronavirus-may-be-more-contagious-than-current-data-shows.html

OMG!  This virus will spread faster and infect more people because it is more potent now.

The regional countries are starting to blame Singapore for spreading the coronavirus.

https://sg.news.yahoo.com/singapore-business-meeting-linked-malaysian-054110183.html

The regional countries are starting to blame Singapore for being a transmission hub now because SG has exported coronavirus to Malaysia and South Korea.

Look like SG is being famous for the wrong reason now.

Becareful! The stock markets are being artificially supported now!

The stock markets are artificially inflated now.  Why?

Many listed companies will suffer from declining revenues due to the coronavirus outbreak because of reduced human activities.  However, these stock prices stay elevated artificially.

When the numbers of infectious cases and death tolls keep rising, the stock markets also keep rising.  Does this make any sense at all?  This makes no sense at all because the virus outbreak has not reached its peak and there is no sign of the outbreak abating.  This is especially true when China is not providing a true figure about its infectious cases and fatality rates.

https://meaww.com/china-wuhan-coronavirus-lying-official-figure-sending-bodies-victims-cremation-eyewash-deaths

US suspended flights to Hong Kong due to local transmission.

https://www.businesstimes.com.sg/transport/major-us-airlines-add-hong-kong-to-china-flight-suspensions

Singapore also has 4 local transmission cases and 24 infected cases that surpass HK's.

Is the US going to suspend flights to SG because SG is also an air hub too?

Hangzhou is in lockdown now!

https://www.channelnewsasia.com/news/asia/hangzhou-and-taizhou-cities-far-from-virus-epicentre-implement-12388714

The virus outbreak is spreading in China as more cities are in lockdown.  Hangzhou is just about 100++km away from Shanghai.

Community transmission is already happening in China!

The coronavirus human-to-human transmission has started in Singapore.

https://www.channelnewsasia.com/news/singapore/wuhan-virus-coronavirus-singapore-community-spread-tourists-12389314

The coronavirus human-to-human transmission has started in Singapore.

Singapore is a densely populated country and this poses a high risk for any virus transmission.

I hope that our medical practices and procedures can contain the virus transmission.

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
11/14/19	DMG & Partners	Golden Agri	0.265	0.25	Neutral	Sum of parts
11/15/19	OCBC	Golden Agri	0.245	0.26	Hold
11/22/19	UOB Kay Hian	Golden Agri	0.235	0.27	Hold
11/22/19	CIMB	Golden Agri	0.235	0.23	Reduce	Sum of parts (10% discount)
01/20/20	DMG & Partners	Golden Agri	0.235	0.27	Buy	Sum of parts

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

Stock calls for 4 February 2020

Date	Analyst	Company	Last	Target	Call	Valuation
02/04/20	DBS Vickers	A-Reit	3.13	3.45	Buy
02/04/20	DBS Vickers	ART	1.26	1.5	Buy
02/04/20	DBS Vickers	Ascendas India Trust	1.58	1.65	Buy
02/04/20	DBS Vickers	CDL Hospitality	1.56	1.75	Buy
02/04/20	DMG & Partners	Comfortdelgro	2.13	2.38	Neutral	DCF
02/04/20	DBS Vickers	Frasers Centrepoint Trust	2.84	2.95	Buy
02/04/20	DBS Vickers	Keppel DC Reit	2.27	2.4	Buy
02/04/20	DBS Vickers	Keppel Reit	1.21	1.45	Buy
02/04/20	DBS Vickers	Mapletree Industrial	2.78	3	Buy
02/04/20	DBS Vickers	Mapletree Logistics	1.85	1.9	Buy
02/04/20	UOB Kay Hian	SATS	4.49	4.8	Hold
02/04/20	UOB Kay Hian	SIA	8.49	9.1	Hold
02/04/20	UOB Kay Hian	SIA Engineering	2.58	3.13	Buy
02/04/20	Amfrasers	Soilbuild Reit	0.5	0.55	Neutral
02/04/20	DBS Vickers	Starhill	0.715	0.8	Buy	DCF
02/04/20	CIMB	UMS	0.925	0.96	Hold	BVPS
02/04/20	DMG & Partners	UOB	25.3	25.8	Neutral	GGM, PB1.11x FY20