Stock calls for 18 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/18/17	DBS Vickers	A-Reit	2.68	2.85	Buy
12/18/17	Kim Eng	CapitaCommercial	1.87	1.8	Hold	Target yield 5%
12/18/17	Kim Eng	Capitaland	3.5	3.75	Hold
12/18/17	DBS Vickers	CDL Hospitality	1.66	1.95	Buy
12/18/17	DBS Vickers	City Developments	12.15	14.03	Buy
12/18/17	Kim Eng	City Developments	12.15	13.8	Buy
12/18/17	DBS Vickers	Frasers Centrepoint Ltd	2.12	2.35	Buy
12/18/17	DBS Vickers	Frasers Centrepoint Trust	2.2	2.37	Buy
12/18/17	OCBC	Frasers Commercial Trust	1.42	1.51	Buy	DDM
12/18/17	DBS Vickers	Frasers Hospitality Trust	0.785	0.89	Buy
12/18/17	Kim Eng	Ho Bee	2.41	3	Buy
12/18/17	Amfrasers	Keppel Corp	7.53	8.67	Buy	Sum of parts
12/18/17	DBS Vickers	Keppel Reit	1.25	1.39	Buy
12/18/17	Kim Eng	Keppel Reit	1.25	1.19	Hold	Target yield 5.25%, Up from $1.16
12/18/17	DBS Vickers	Mapletree Greater China	1.19	1.3	Buy
12/18/17	DBS Vickers	Mapletree Logistics	1.32	1.38	Buy
12/18/17	DIR	SIA Engineering	3.11	3.56	Outperform
12/18/17	Kim Eng	Suntec Reit	2.12	1.89	Hold	Target yield 5.25%, Up from $1.84
12/18/17	Amfrasers	Uni-Asia	1.23	1.85	Buy	Sum of parts, PB0.5x FY17, PER8.2x FY17
12/18/17	Kim Eng	UOL	8.54	9.85	Buy

Jalan Sri Pelangi petrol station murder!

The assailants are either loaded or the BMW is a stolen car.

Singaporeans, please be vigilant when you pump petrol in JB.

Yeah! The VEP is postponed!

https://sg.news.yahoo.com/implementation-vehicle-entry-permit-postponed-104030077.html

This is definitely a short-term good news for Singaporeans because our car prices are going to go up due to the new emission requirement, zero vehicle growth policy and impending higher GST.

Let's enjoy it while it still lasts!

South Korea President Moon went back empty-handed from China's visit.

http://www.atimes.com/article/president-moons-china-state-visit-spirals-pr-disaster/

Many unpleasant things happened during SK President Moon's China visit and these were tell-tale signs that the China-SK relationship was still rocky.

Furthermore, there was no joint communique after the closure which meant that the relationship didn't turn better at all and no agreement was reached between China & SK.

China had shown to SK that the THAAD system installation was a major concern to China and that nothing would turn better with the existence of THAAD.

China is forging closer relationships with 6 ASEAN countries.

http://news.xinhuanet.com/english/2017-12/16/c_136829391.htm

ASEAN has 10 countries but China is only forging closer relationships with 6 ASEAN countries leaving out Malaysia, Indonesia, Singapore & Philippines.

However, Philippines has managed to foster a strategic relationship with China by becoming the facilitator between China & ASEAN.  Therefore, Philippines and China will have a closer working relationship since Philippines has become the mouthpiece for China.  Malaysia has also managed to build a port alliance with China with the Melaka Gateway development.

http://sg-stock.blogspot.sg/2017/11/china-has-replaced-singapore-with.html

Thus, only Singapore and Indonesia are left out of the ASEAN equation.

We need to monitor the ASEAN situation closely or we'll be ostracized.

Baltic dry index - 1619

Today, Friday, December 15 2017, the Baltic Dry Index decreased by 49 points, reaching 1619 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 stocks: Sembcorp Marine, Cosco & Pan Ocean

US rig count - 930

HOUSTON (AP) - The number of rigs exploring for oil and natural gas in the U.S. slipped by one this week to 930.

That's well above the 637 rigs that were active this time a year ago.

According to Houston oilfield services company Baker Hughes, 747 rigs were drilling for oil and 183 for natural gas this week. Baker Hughes released its tabulation Friday.

Among major oil- and gas-producing states, Pennsylvania gained three rigs and North Dakota and Wyoming each added one.

New Mexico and Texas each lost two rigs while Louisiana declined by one.

Alaska, Arkansas, California, Colorado, Kansas, Ohio, Oklahoma, Utah and West Virginia were unchanged.

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.

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

Related stocks: Keppel Corp, Sembcorp Marine & Cosco

Australia-China political skirmish

https://www.theguardian.com/world/2017/dec/14/china-summons-australias-ambassador-in-growing-political-meddling-row

Australia is embarking on a smearing campaign against China again.

Australia relies heavily on China for its economic development because it exports about AUD$93b of goods & services to China which constitutes about 28% of its trades.

https://www.austrade.gov.au/news/economic-analysis/australias-export-performance-in-2016

However, instead of being grateful to China, it wants to help the USA to contain China.

Australia tried to mislead the world about the India-China border dispute.

http://sg-stock.blogspot.sg/2017/07/australian-foreign-minister-showed-her.html

Australia wanted China to adhere to the PCA ruling but declined to obey the PCA ruling against itself.

http://sg-stock.blogspot.sg/2016/09/australia-declares-that-pca-has-no.html

EC World Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/19/16	Religare	EC World Reit	0.81	0	Avoid	IPO
03/02/17	Religare	EC World Reit	0.74	0.92	Buy
05/16/17	Religare	EC World Reit	0.765	0.92	Buy

Duty Free - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/26/16	DBS Vickers	Duty Free	0.42	0.52	Not Rated	PER20x FY18
09/26/16	UOB Kay Hian	Duty Free	0.42	0.56	Buy	DCF
10/03/16	UOB Kay Hian	Duty Free	0.44	0.56	Buy
10/13/16	CIMB	Duty Free	0.45	0.61	Add	DCF
10/13/16	UOB Kay Hian	Duty Free	0.45	0.57	Buy	DCF
10/17/16	Kenanga	Duty Free	0.445	0.57	Buy	Consensus target
11/21/16	UOB Kay Hian	Duty Free	0.395	0.57	Buy
12/05/16	UOB Kay Hian	Duty Free	0.38	0.57	Buy	DCF
01/03/17	UOB Kay Hian	Duty Free	0.37	0.57	Buy
01/13/17	UOB Kay Hian	Duty Free	0.39	0.55	Buy	DCF
01/16/17	CIMB	Duty Free	0.39	0.55	Add	DCF
04/28/17	CIMB	Duty Free	0.415	0.57	Add	DCF
04/28/17	UOB Kay Hian	Duty Free	0.415	0.49	Buy	DCF
07/14/17	UOB Kay Hian	Duty Free	0.315	0.37	Hold	DCF, Buy @ $0.3
07/14/17	CIMB	Duty Free	0.315	0.33	Hold	DCF, PER18x CY18
10/13/17	UOB Kay Hian	Duty Free	0.28	0.33	Hold	DCF, Buy @ $0.26

Stock calls for 15 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/15/17	CIMB	ESR-Reit	0.56	0.63	Add	DDM
12/15/17	Lim & Tan	Frasers Centrepoint Ltd	2.08	0	Buy
12/15/17	OCBC	Frasers Commercial Trust	1.44	1.42	Hold
12/15/17	UOB Kay Hian	Genting Hong Kong	0.23	0.24	Hold	Sum of parts, Buy @ $0.22
12/15/17	DBS Vickers	Suntec Reit	2.07	2.3	Buy	DCF
12/15/17	DBS Vickers	Yoma	0.54	0.75	Buy

Bitcoin trading analysis - Part 2

https://www.cnbc.com/2017/12/14/behind-bitcoins-wild-surge-japanese-men.html

We posted about the Japanese trying to push bitcoin prices higher so that they could dump the bitcoins in our previous post below.

http://sg-stock.blogspot.sg/2017/10/bitcoin-trading-analysis.html

It seems that the Japanese investors are successful in pushing up the prices.  Therefore, they're looking for the next idiot to buy from them now.

The Kurds are living in the land of verisimilitude.

https://sg.news.yahoo.com/tatters-syria-kurds-fear-us-abandon-them-130702531.html

The USA will definitely abandon the Syrian Kurds and the Kurds should wake up from the fantasy by looking at the Iraqi Kurds' outcome.  The Syrian Kurds shouldn't harbour any glimmer of hope in the USA because the USA has a really bad historical record.  History will repeat itself when you don't take history seriously.

https://sg-stock.blogspot.sg/2017/10/usa-has-forsaken-turds.html

Dutech - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/06/16	CIMB	Dutech	0.395	0.61	Add
08/15/16	CIMB	Dutech	0.455	0.61	Add	DCF CY16
10/05/16	CIMB	Dutech	0.47	0.61	Add	DCF CY16
11/16/16	CIMB	Dutech	0.48	0.65	Add	DCF CY17
12/06/16	CIMB	Dutech	0.46	0.65	Add	DCF
03/03/17	CIMB	Dutech	0.475	0.55	Hold	DCF
05/12/17	CIMB	Dutech	0.495	0.53	Hold	DCF CY17

Delfi - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/16	OCBC	Delfi	2.06	1.97	Sell
02/23/16	CIMB	Delfi	2.39	1.77	Reduce	PER25x CY17
02/24/16	DBS Vickers	Delfi	2.46	2.21	Hold
02/24/16	DMG & Partners	Delfi	2.46	2	Sell	DCF, PER47x FY16
02/24/16	OCBC	Delfi	2.46	1.92	Sell	PER30x FY16
03/21/16	OCBC	Delfi	2.8	1.92	Sell
05/13/16	CIMB	Delfi	2.5	2.69	Hold
05/13/16	DBS Vickers	Delfi	2.5	2.56	Hold
05/13/16	OCBC	Delfi	2.5	2.15	Sell	PER30x FY16
06/09/16	OCBC	Delfi	2.48	2.15	Sell	PER30x FY16
08/11/16	CIMB	Delfi	2.5	2.69	Hold	PER25x CY17
08/12/16	DBS Vickers	Delfi	2.61	2.42	Hold
09/22/16	OCBC	Delfi	2.15	2.34	Hold
11/11/16	CIMB	Delfi	2.2	2.31	Hold	PER25x CY18
11/11/16	OCBC	Delfi	2.2	2.39	Hold
12/09/16	DBS Vickers	Delfi	2.25	2.16	Hold
01/03/17	DMG & Partners	Delfi	2.22	2.55	Buy
01/16/17	OCBC	Delfi	2.25	2.39	Hold
02/23/17	CIMB	Delfi	2.32	2.3	Hold	PER25x CY18
02/23/17	OCBC	Delfi	2.32	2.39	Hold	PER30x FY17
02/24/17	DMG & Partners	Delfi	2.35	2.55	Neutral	DCF
02/24/17	OCBC	Delfi	2.35	2.37	Hold	PER30x FY17
02/27/17	DBS Vickers	Delfi	2.33	2.26	Hold	PER26x FY17/18
03/17/17	OCBC	Delfi	2.24	2.37	Hold
05/09/17	OCBC	Delfi	2.2	2.37	Hold
05/11/17	CIMB	Delfi	2.2	2.3	Hold	PER25x CY18
05/11/17	OCBC	Delfi	2.2	2.21	Hold	PER30x FY17/18
06/16/17	OCBC	Delfi	2.05	2.21	Hold
08/10/17	OCBC	Delfi	2.12	2.08	Hold	PER30x FY18
08/10/17	DMG & Partners	Delfi	2.12	2	Neutral	DCF
10/02/17	DMG & Partners	Delfi	1.515	1.86	Buy	DCF
11/15/17	DMG & Partners	Delfi	1.45	1.65	Buy	DCF

Stock calls for 14 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/14/17	Kim Eng	Bukit Sembawang	5.93	8.25	Buy	RNAV (20% discount)
12/14/17	CIMB	Capitaland	3.51	4.25	Add	RNAV (20% discount)
12/14/17	OCBC	Capitaland	3.51	4.13	Buy
12/14/17	OCBC	City Developments	12.65	13.5	Buy
12/14/17	CIMB	Far East Hospitality	0.71	0.69	Hold	DDM
12/14/17	CIMB	Frasers Centrepoint Trust	2.21	2.38	Add	DDM
12/14/17	OCBC	Frasers Centrepoint Trust	2.21	2.4	Buy
12/14/17	CIMB	Frasers Logistics	1.12	1.2	Add	DDM
12/14/17	OCBC	Frasers Logistics	1.12	1.25	Buy
12/14/17	Kim Eng	Genting	1.34	1.42	Buy
12/14/17	OCBC	Mapletree Greater China	1.19	1.28	Buy
12/14/17	CIMB	UOL	8.72	9.62	Add	RNAV (20% discount)
12/14/17	OCBC	UOL	8.72	9.7	Buy
12/14/17	OCBC	Wheelock Properties	1.89	2.27	Buy
12/14/17	OCBC	Wing Tai	2.3	2.77	Buy

Look at how Canadian parliament endorses Nanjing Massacre Memorial Day.

The Caucasian Canadians truly supported this in parliament.

However, our PM Lee asked Japan not to apologize anymore for WW2 atrocities even when Japan tried to whitewash its atrocities.

http://sg-stock.blogspot.sg/2017/12/canada-to-proclaim-13-december-as.html

How practical and useful is bitcoin?

Bitcoin is not a practical and useful payment mode because it is expensive and slow to process transactions compared to what it proclaims to be.

It costs about US$19 to process a transaction in 10 minutes because the blockchain frequency is set at 10 minutes.  The best blockchain network system can only process 3.3 transactions per second whilst VISA can process 3,674 transactions per second.

https://www.wired.com/story/bitcoin-is-soaring-heres-why-its-not-ready-for-the-big-time/

Some merchants are starting to dump Bitcoin payment mode because of its processing fee and speed.

http://www.bbc.com/news/technology-42264622

Therefore, there won't be a widespread adoption of Bitcoin payment mode in the world because of its limitations.  The current bitcoin prices have factored in the expectation of worldwide adoption which is not happening.

KGI Fraser is officially wrong in its US interest rate movement.

https://finance.yahoo.com/news/federal-reserve-december-2017-fomc-decision-143436424.html

The FED has raised its interest rate in December!

KGI Fraser has been proven wrong and its arguments for the no rate hike are totally invalid because it does not take into other factors in its analysis.

https://sg-stock.blogspot.sg/2017/09/kgi-fraser-is-dead-wrong-about-fed.html

We projected a December rate hike in our previous post and we got it.

HSR poll result

Look like KL-SG HSR will become a white elephant as it is simply too expensive to operate.  Driving into Malaysia is still cheaper albeit time-consuming.  Our viewers have indicated that the time saved is not worth the money spent.