Tuesday, August 4, 2020
Australia is really the white trash of the East.
Monday, August 3, 2020
The ugly side of Facebook - A thug in disguise!
US ISM PMI had shown great improvement in July.
The July PMI (54.2, +1.6) had continued to improve because of pandemic relief packages implemented worldwide including the US ($600 per week). This had resulted in the new order including the new export and local orders rising altogether and pushed up the prices to 53.2 (+1.9). Thus, the producers ramped up their production (62.1, +4.8) to meet the rising new orders while the customers’ inventories were reduced by fulfilling the rising orders.
All in all, the improvement in the July PMI showed that the worldwide pandemic relief packages were helping to boost some consumer spendings. However, the real test will be whether the consumer spendings will be sustainable without the pandemic relief packages and also the re-surging COVID outbreak situation.
If the US can continue the pandemic relief money and contain the deteriorating outbreak, the US GDP will rebound in Q3.
Hongkong Land - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
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 | |
12/12/19 | DBS Vickers | Hongkong Land | 5.47 | 6.64 | Buy | RNAV (45% discount) |
12/12/19 | CIMB | Hongkong Land | 5.47 | 6.9 | Add | |
03/06/20 | DBS Vickers | Hongkong Land | 5.05 | 5.81 | Buy | RNAV (50% discount) |
03/10/20 | CIMB | Hongkong Land | 4.55 | 6.05 | Add | |
05/05/20 | DBS Vickers | Hongkong Land | 4.13 | 5.22 | Buy | RNAV (55% discount) |
07/30/20 | Lim & Tan | Hongkong Land | 3.72 | 0 | Buy | |
07/30/20 | DBS Vickers | Hongkong Land | 3.72 | 4.94 | Buy | RNAV (55% discount) |
08/03/20 | DBS Vickers | Hongkong Land | 3.79 | 4.8 | Buy | RNAV (55% discount) |
08/03/20 | CIMB | Hongkong Land | 3.79 | 5.1 | Add |
Hong Leong Asia - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
01/28/20 | Lim & Tan | Hong Leong Asia | 0.625 | 0 | Buy on weakness |
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 |
Stock calls for 3 August 2020
Date | Analyst | Company | Last | Target | Call | Valuation |
08/03/20 | DBS Vickers | Far East Hospitality | 0.49 | 0.6 | Buy | |
08/03/20 | CIMB | First Reit | 0.555 | 0.957 | Add | DDM |
08/03/20 | Kim Eng | Hi-P | 1.28 | 1.23 | Hold | |
08/03/20 | DBS Vickers | Hi-P | 1.28 | 1.34 | Hold | PER13x FY21 |
08/03/20 | UOB Kay Hian | Hi-P | 1.28 | 1.11 | Sell | |
08/03/20 | DBS Vickers | Hongkong Land | 3.79 | 4.8 | Buy | RNAV (55% discount) |
08/03/20 | CIMB | Hongkong Land | 3.79 | 5.1 | Add | |
08/03/20 | UOB Kay Hian | Japfa | 0.66 | 0.98 | Buy | Sum of parts |
08/03/20 | DBS Vickers | Japfa | 0.66 | 0.82 | Buy | Sum of parts |
08/03/20 | CIMB | Japfa | 0.66 | 0.96 | Add | |
08/03/20 | CIMB | Jardine Matheson | 40.92 | 48.61 | Add | |
08/03/20 | UOB Kay Hian | Keppel Corp | 5.4 | 7.1 | Buy | Sum of parts |
08/03/20 | DMG & Partners | Keppel Corp | 5.4 | 7.3 | Buy | Sum of parts |
08/03/20 | DBS Vickers | Keppel Corp | 5.4 | 6.4 | Buy | sum of parts, PB1x |
08/03/20 | CIMB | Keppel Corp | 5.4 | 6.46 | Add | Sum of parts |
08/03/20 | OCBC | Keppel Corp | 5.4 | 6.4 | Buy | |
08/03/20 | Lim & Tan | KSH | 0.345 | 0 | Neutral | |
08/03/20 | phillip | SGX | 8.17 | 9.45 | Buy | PER21.4x |
08/03/20 | CIMB | SGX | 8.17 | 9 | Add | |
08/03/20 | DMG & Partners | SGX | 8.17 | 9.2 | Buy | PER24x FY21 |
08/03/20 | DBS Vickers | SGX | 8.17 | 8.4 | Hold | DDM, PER21x FY21 |
08/03/20 | OCBC | SGX | 8.17 | 8.3 | Hold | |
08/03/20 | phillip | Sheng Siong | 1.7 | 1.65 | Neutral | PER25x FY21 |
08/03/20 | DMG & Partners | Sheng Siong | 1.7 | 1.87 | Buy | DCF |
08/03/20 | UOB Kay Hian | SIA | 3.42 | 3.64 | Hold | |
08/03/20 | DMG & Partners | Starhill | 0.465 | 0.6 | Buy | DDM |
Sunday, August 2, 2020
It is foolish of the US to accuse China of IP theft because WIPO will reveal the truth.
Saturday, August 1, 2020
Baltic dry index - 1348
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.
The US treasury department is awashed with US$1.8T.
Thursday, July 30, 2020
Red alert: The US economy is going to contract sharply in Q2. - Part 2
HMI - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
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 |
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 | PER13x FY20 |
11/01/19 | Kim Eng | Hi-P | 1.44 | 1.34 | Sell | PB1.5x FY20 |
02/14/20 | DBS Vickers | Hi-P | 1.3 | 1.37 | Hold | PER14x FY20 |
02/18/20 | Kim Eng | Hi-P | 1.31 | 1 | Sell | PB1.2x FY20 |
03/30/20 | Kim Eng | Hi-P | 0.83 | 0.78 | Hold | Roe-g/Coe-g, PB1x FY20 |
04/02/20 | DBS Vickers | Hi-P | 0.835 | 0.85 | Hold | |
04/20/20 | Kim Eng | Hi-P | 0.97 | 0.78 | Neutral |
Stock calls for 30 July 2020
Date | Analyst | Company | Last | Target | Call | Valuation |
07/30/20 | OCBC | ART | 0.895 | 1.03 | Buy | |
07/30/20 | DBS Vickers | Capitaland | 2.76 | 4.5 | Buy | |
07/30/20 | UOB Kay Hian | CDL Hospitality | 0.97 | 1 | Hold | DDM, Buy @ $0.9 |
07/30/20 | DBS Vickers | CDL Hospitality | 0.97 | 1.3 | Buy | |
07/30/20 | Kim Eng | CDL Hospitality | 0.97 | 0.95 | Hold | |
07/30/20 | DBS Vickers | City Developments | 8.28 | 13 | Buy | |
07/30/20 | DMG & Partners | Dairy Farm | 4.15 | 4.47 | Neutral | DCF |
07/30/20 | DBS Vickers | Dairy Farm | 4.15 | 4.86 | Buy | Sum of parts |
07/30/20 | Macquarie | DBS | 20.4 | 25.5 | outperform | PB |
07/30/20 | OCBC | DBS | 20.4 | 20 | Hold | |
07/30/20 | UOB Kay Hian | DBS | 20.4 | 23.12 | Buy | |
07/30/20 | DBS Vickers | Frasers Property | 1.18 | 1.7 | Buy | |
07/30/20 | Lim & Tan | Hongkong Land | 3.72 | 0 | Buy | |
07/30/20 | Macquarie | OCBC | 8.9 | 11 | Outperform | PB |
07/30/20 | UOB Kay Hian | OCBC | 8.9 | 11.22 | Buy | |
07/30/20 | CIMB | Parkway Life | 3.44 | 3.43 | Hold | |
07/30/20 | DBS Vickers | Sheng Siong | 1.73 | 1.91 | Buy | PER25x FY21 |
07/30/20 | DBS Vickers | SIA | 3.53 | 3.75 | Hold | PB0.8x FY21/22 |
07/30/20 | CIMB | SIA | 3.53 | 3.55 | Hold | PB0.84x FY22 |
07/30/20 | OCBC | Starhill | 0.47 | 0.53 | Buy | |
07/30/20 | Macquarie | UOB | 20.02 | 21 | Neutral | PB |
07/30/20 | OCBC | UOB | 20.02 | 21.5 | Hold | |
07/30/20 | DBS Vickers | UOL | 6.7 | 9.5 | Buy |
The HK commercial reits are in troubles.
We've just added the following feature.
MAS has capped SG banks' dividend payout to 60% and this causes SG bank stocks to tank.
Latest Canadian court disclosure showed that Meng didn't deceive HSBC.
The latest Canadian court showed that HSBC set up Meng to get itself off the hook.
HSBC's internal email correspondences showed that HSBC was in full knowledge of the relationship between Huawei and the Iranian company. HSBC claimed that its junior executive didn't report the relationship to the top management but the junior executive was not that junior as he was the VP of the department. Whatever miscommunication happened between HSBC and its VP shouldn't be pinned on Huawei as the internal documents showed that Huawei didn't hide the relationship.
This disclosure is in Meng's favour now and it puts the Canadian authority in a bad light because it would mean the arrest was politically motivated.