World Class - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/26/17	UOB Kay Hian	World Class	0.23	0.32	Buy

Stock calls for 6 April 2018

Date	Analyst	Company	Last	Target	Call	Valuation
04/06/18	OCBC	Comfortdelgro	2.07	2.25	Buy
04/06/18	CIMB	Genting	1.08	1.4	Add	EV/Ebitda11.5x FY19
04/06/18	CIMB	Golden Agri	0.345	0.31	Reduce
04/06/18	UOB Kay Hian	Memtech	1.58	1.5	Hold	PER12x FY18, Buy @ $1.35
04/06/18	CIMB	MM2 Asia	0.49	0.74	Add
04/06/18	Lim & Tan	Noble	0.067	0	Avoid
04/06/18	DBS Vickers	Perennial Reit	0.855	1.05	Buy
04/06/18	CIMB	Sembcorp Marine	2.17	3.01	Add
04/06/18	CIMB	Venture	27.73	30.81	Add	PER17.7x FY19
04/06/18	CIMB	Wilmar	3.1	4.1	Add

Another blow to Bitcoin!

https://finance.yahoo.com/news/blow-bitcoin-india-bans-banks-174503723.html

India has banned banks from dealing in Crypto.  This means that the Indian banks cannot transfer or receive money to and fro any e-wallet.

The US will impose 100b new tariffs against China.

https://finance.yahoo.com/news/china-win-trade-war-u-133843334.html

This is really a trade war now.  China will also retaliate with 100b new tariffs against the US.

Wing Tai - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/16	UOB Kay Hian	Wing Tai	1.755	2.5	Buy
01/08/16	DBS Vickers	Wing Tai	1.68	2.22	Buy
01/14/16	Kim Eng	Wing Tai	1.63	1.91	Buy	RNAV (16% discount), PB0.5x
01/26/16	Deutsche	Wing Tai	1.55	1.8	Hold
02/05/16	Kim Eng	Wing Tai	1.525	1.91	Buy	RNAV (16% discount), PB0.5x
02/15/16	OCBC	Wing Tai	1.485	2.43	Buy	RNAV (35% discount)
02/25/16	Deutsche	Wing Tai	1.54	1.8	Hold	RNAV (50% discount)
03/10/16	Kim Eng	Wing Tai	1.68	1.86	Buy	RNAV (16% discount)
03/24/16	Deutsche	Wing Tai	1.72	1.8	Hold	RNAV (44.5% discount)
04/04/16	Kim Eng	Wing Tai	1.76	1.86	Buy
04/20/16	Kim Eng	Wing Tai	1.89	1.93	Hold	RNAV (16% discount)
05/10/16	OCBC	Wing Tai	1.795	2.43	Buy
05/24/16	UOB Kay Hian	Wing Tai	1.73	2.5	Buy
06/08/16	UOB Kay Hian	Wing Tai	1.715	2.37	Buy
06/09/16	Kim Eng	Wing Tai	1.74	1.93	Hold
06/30/16	Kim Eng	Wing Tai	1.64	1.71	Hold	RNAV (18% discount)
07/07/16	Kim Eng	Wing Tai	1.64	1.71	Hold	RNAV (18% discount)
07/07/16	UOB Kay Hian	Wing Tai	1.64	2.37	Buy
07/08/16	CIMB	Wing Tai	1.665	1.95	Hold	RNAV (35% discount)
07/12/16	Deutsche	Wing Tai	1.65	1.9	Buy
08/23/16	CIMB	Wing Tai	1.78	1.87	Hold	RNAV (35% discount)
08/23/16	Kim Eng	Wing Tai	1.78	1.71	Hold
08/23/16	Lim & Tan	Wing Tai	1.78	0	Buy
08/23/16	UOB Kay Hian	Wing Tai	1.78	2.37	Buy	RNAV (30% discount)
09/09/16	Kim Eng	Wing Tai	1.72	1.71	Hold
10/05/16	Kim Eng	Wing Tai	1.69	1.71	Hold
10/28/16	Kim Eng	Wing Tai	1.71	1.75	Hold	RNAV (17% discount)
11/17/16	OCBC	Wing Tai	1.605	2.43	Buy
12/06/16	Kim Eng	Wing Tai	1.63	1.67	Hold
12/07/16	Deutsche	Wing Tai	1.635	1.9	Buy
01/11/17	Kim Eng	Wing Tai	1.64	1.67	Hold
02/07/17	OCBC	Wing Tai	1.785	2.37	Buy
03/10/17	CIMB	Wing Tai	1.79	2.05	Add	RNAV (35% discount)
03/13/17	Deutsche	Wing Tai	1.935	2	Buy
03/13/17	Kim Eng	Wing Tai	1.935	1.67	Hold
03/13/17	OCBC	Wing Tai	1.935	2.37	Buy
03/13/17	UOB Kay Hian	Wing Tai	1.935	2.54	Buy
03/16/17	Kim Eng	Wing Tai	1.9	1.8	Hold
05/12/17	Deutsche	Wing Tai	1.86	2.4	Buy
05/12/17	Kim Eng	Wing Tai	1.86	1.85	Hold
05/24/17	CIMB	Wing Tai	1.845	2.05	Add	RNAV (35% discount)
05/24/17	Lim & Tan	Wing Tai	1.845	0	Buy on weakness
05/24/17	OCBC	Wing Tai	1.845	2.37	Buy
05/24/17	UOB Kay Hian	Wing Tai	1.845	2.61	Buy	RNAV (25% discount)
06/05/17	OCBC	Wing Tai	1.91	2.37	Buy
06/14/17	DBS Vickers	Wing Tai	2.01	2.37	Buy
06/22/17	Deutsche	Wing Tai	2.02	2.93	Buy
07/18/17	CIMB	Wing Tai	2.02	2.05	Add
08/25/17	CIMB	Wing Tai	2.13	2.32	Add	RNAV (35% discount)
08/25/17	Lim & Tan	Wing Tai	2.13	0	Buy
08/29/17	OCBC	Wing Tai	2.12	2.37	Buy
09/05/17	UOB Kay Hian	Wing Tai	2.11	2.61	Buy	RNAV (25% discount)
10/04/17	UOB Kay Hian	Wing Tai	2.18	2.61	Buy	RNAV (25% discount)
10/06/17	Lim & Tan	Wing Tai	2.24	0	Buy
10/20/17	Deutsche	Wing Tai	2.24	2.6	Buy
10/24/17	Lim & Tan	Wing Tai	2.32	0	Buy
10/25/17	OCBC	Wing Tai	2.33	2.77	Buy
10/25/17	DBS Vickers	Wing Tai	2.33	2.77	Buy
11/02/17	UOB Kay Hian	Wing Tai	2.42	2.61	Buy	RNAV (25% discount)
12/01/17	UOB Kay Hian	Wing Tai	2.17	2.78	Buy
12/14/17	OCBC	Wing Tai	2.3	2.77	Buy
01/04/18	UOB Kay Hian	Wing Tai	2.29	2.78	Buy	RNAV (20% discount)
01/04/18	Deutsche	Wing Tai	2.29	2.6	Buy
01/19/18	UOB Kay Hian	Wing Tai	2.34	2.78	Buy
02/13/18	OCBC	Wing Tai	2.13	2.64	Buy
02/13/18	UOB Kay Hian	Wing Tai	2.13	2.78	Buy
03/02/18	UOB Kay Hian	Wing Tai	2.2	2.78	Buy
04/03/18	UOB Kay Hian	Wing Tai	2.06	2.78	Buy

Wilmar - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/25/16	OCBC	Wilmar	2.75	3.27	Buy
01/26/16	Deutsche	Wilmar	2.68	2	Sell
02/01/16	UOB Kay Hian	Wilmar	2.85	3.6	Buy	Sum of parts, PER12.8x FY16
02/19/16	CIMB	Wilmar	3.11	3.28	Hold
02/19/16	Credit Suisse	Wilmar	3.11	3.72	Outperform
02/19/16	DBS Vickers	Wilmar	3.11	3.7	Buy
02/19/16	Lim & Tan	Wilmar	3.11	0	Hold
02/19/16	Macquarie	Wilmar	3.11	3.3	Outperform
02/22/16	CIMB	Wilmar	3.16	3.49	Add	Sum of parts
02/22/16	Citigroup	Wilmar	3.16	3.71	Buy
02/22/16	OCBC	Wilmar	3.16	3.34	Hold	PER12.5x FY16
02/23/16	DBS Vickers	Wilmar	3.16	3.85	Buy
03/18/16	OCBC	Wilmar	3.25	3.34	Hold
03/28/16	Citigroup	Wilmar	3.36	3.83	Buy
03/28/16	UOB Kay Hian	Wilmar	3.36	3.6	Buy
04/12/16	DBS Vickers	Wilmar	3.39	3.85	Buy
04/12/16	OCBC	Wilmar	3.39	3.34	Hold	Buy @ $3.20
04/25/16	Citigroup	Wilmar	3.56	4.14	Buy
04/25/16	Deutsche	Wilmar	3.56	3.5	Hold
04/25/16	UOB Kay Hian	Wilmar	3.56	3.95	Buy	Sum of parts, PER12.5x FY17
05/04/16	Credit Suisse	Wilmar	3.63	4	Neutral
05/05/16	DMG & Partners	Wilmar	3.51	4.25	Buy	Sum of parts, PER14.5x FY16
05/11/16	CIMB	Wilmar	3.41	3.49	Hold	Sum of parts
05/11/16	Macquarie	Wilmar	3.41	3.45	Neutral
05/11/16	UOB Kay Hian	Wilmar	3.41	3.8	Buy	Sum of parts, PER12.5x FY17
05/12/16	DBS Vickers	Wilmar	3.29	3.75	Hold
06/09/16	Macquarie	Wilmar	3.41	3.4	Neutral
06/17/16	DBS Vickers	Wilmar	3.29	3.76	Buy
07/20/16	CIMB	Wilmar	3.35	3.23	Reduce	Sum of parts (10% discount)
07/20/16	Citigroup	Wilmar	3.35	3.73	Buy
07/20/16	Credit Suisse	Wilmar	3.35	3.1	Underperform
07/20/16	Deutsche	Wilmar	3.35	2.8	Hold
07/20/16	DMG & Partners	Wilmar	3.35	3.28	Neutral
07/20/16	OCBC	Wilmar	3.35	3.05	Sell	Buy @ $2.85
07/20/16	UOB Kay Hian	Wilmar	3.35	3.05	Sell	Sum of parts
07/21/16	Macquarie	Wilmar	3.16	3.15	Neutral	DCF
08/12/16	CIMB	Wilmar	3.09	3.05	Reduce	Sum of parts (15% discount)
08/12/16	Credit Suisse	Wilmar	3.09	3.1	Underperform
08/12/16	DBS Vickers	Wilmar	3.09	3.13	Hold
08/12/16	UOB Kay Hian	Wilmar	3.09	3.05	Sell	Sum of parts, PER11.5x FY17
08/15/16	Credit Suisse	Wilmar	3.08	3.1	Neutral
09/15/16	Citigroup	Wilmar	3.15	3.64	Buy
09/15/16	DBS Vickers	Wilmar	3.15	3.13	Hold
10/05/16	OCBC	Wilmar	3.22	3	Hold
10/25/16	DBS Vickers	Wilmar	3.35	3.39	Hold	DCF
11/02/16	UOB Kay Hian	Wilmar	3.32	3.05	Sell	Sum of parts, PER11.5x FY17
11/11/16	CIMB	Wilmar	3.35	3.05	Reduce	Sum of parts (15% discount)
11/11/16	Credit Suisse	Wilmar	3.35	3.1	Neutral
11/14/16	CIMB	Wilmar	3.3	3.42	Hold	Sum of parts (10% discount)
11/14/16	DBS Vickers	Wilmar	3.3	3.39	Hold
11/14/16	OCBC	Wilmar	3.3	3.18	Hold	PER12.5x FY17
12/06/16	CIMB	Wilmar	3.66	3.42	Hold
12/07/16	Deutsche	Wilmar	3.67	2.8	Hold
12/08/16	Citigroup	Wilmar	3.69	3.64	Buy
12/08/16	UOB Kay Hian	Wilmar	3.69	3.05	Sell
12/12/16	OCBC	Wilmar	3.61	3.18	Hold
01/03/17	DMG & Partners	Wilmar	3.59	3.28	Neutral
01/11/17	DBS Vickers	Wilmar	3.67	3.39	Hold
02/01/17	UOB Kay Hian	Wilmar	3.88	3.5	Sell	Sum of parts, PER12.1x FY17
02/13/17	DBS Vickers	Wilmar	3.93	3.39	Hold
02/21/17	CIMB	Wilmar	3.9	3.93	Hold	Sum of parts
02/21/17	Credit Suisse	Wilmar	3.9	3.73	Neutral
02/22/17	DMG & Partners	Wilmar	3.78	3.56	Neutral	Sum of parts
02/22/17	OCBC	Wilmar	3.78	3.7	Hold	PER14x FY17
03/02/17	UOB Kay Hian	Wilmar	3.65	3.5	Sell	Sum of parts, PER12.1x FY17, Buy @ $3.20
03/13/17	DBS Vickers	Wilmar	3.58	3.9	Hold
04/11/17	DBS Vickers	Wilmar	3.52	3.9	Hold
04/11/17	DMG & Partners	Wilmar	3.52	3.62	Neutral
04/13/17	Credit Suisse	Wilmar	3.52	3.5	Neutral
05/05/17	UOB Kay Hian	Wilmar	3.47	3.5	Hold	Sum of parts, PER12.1x FY17, Buy @ $3.20
05/12/17	CIMB	Wilmar	3.43	3.93	Add	Sum of parts
05/12/17	Credit Suisse	Wilmar	3.43	3.5	Neutral
05/12/17	OCBC	Wilmar	3.43	3.7	Hold
05/15/17	CIMB	Wilmar	3.76	4.52	Add	Sum of parts
05/15/17	DMG & Partners	Wilmar	3.76	3.62	Neutral	DCF, PER13x
05/15/17	Macquarie	Wilmar	3.76	3.7	Neutral
05/15/17	UOB Kay Hian	Wilmar	3.76	4.4	Buy	Sum of parts, PER20x
05/16/17	Credit Suisse	Wilmar	3.82	3.9	Neutral	Sum of parts
05/16/17	DBS Vickers	Wilmar	3.82	3.9	Hold	DCF
06/14/17	UOB Kay Hian	Wilmar	3.51	4.4	Buy	Sum of parts
07/11/17	DBS Vickers	Wilmar	3.32	3.9	Hold
08/11/17	CIMB	Wilmar	3.42	4.52	Add	Sum of parts
08/11/17	DMG & Partners	Wilmar	3.42	3.43	Neutral	Sum of parts
08/11/17	OCBC	Wilmar	3.42	3.66	Hold
08/14/17	DBS Vickers	Wilmar	3.2	3.52	Hold	DCF
08/15/17	Credit Suisse	Wilmar	3.2	3.5	Neutral	PER15x FY17
08/28/17	DIR	Wilmar	3.22	3.82	Buy	PER15x FY17/18
09/05/17	DBS Vickers	Wilmar	3.25	3.52	Hold	DCF
09/07/17	OCBC	Wilmar	3.27	3.68	Hold
10/31/17	UOB Kay Hian	Wilmar	3.4	4.1	Buy	Sum of parts, PER14x FY18
11/13/17	DBS Vickers	Wilmar	3.31	3.52	Hold
11/14/17	UOB Kay Hian	Wilmar	3.32	4.1	Buy	Sum of parts, PER14x FY18
11/14/17	DMG & Partners	Wilmar	3.32	3.33	Neutral	Sum of parts
11/14/17	CIMB	Wilmar	3.32	4.27	Add	Sum of parts
11/14/17	OCBC	Wilmar	3.32	3.51	Hold
11/16/17	DBS Vickers	Wilmar	3.22	3.5	Hold	DCF, PER15x FY18
12/13/17	DMG & Partners	Wilmar	3.11	3.31	Neutral	Sum of parts
12/20/17	CIMB	Wilmar	3.1	4.27	Add
01/04/18	CIMB	Wilmar	3.16	4.27	Add
01/15/18	DBS Vickers	Wilmar	3.16	3.5	Hold
01/16/18	UOB Kay Hian	Wilmar	3.19	4.1	Buy	Sum of parts, PER14x FY18
02/23/18	CIMB	Wilmar	3.04	4.1	Add	Sum of parts
02/23/18	UOB Kay Hian	Wilmar	3.04	4.1	Buy	Sum of parts, PER14x FY18
02/23/18	OCBC	Wilmar	3.04	3.51	Hold	PER13.5x FY18/19
02/26/18	DBS Vickers	Wilmar	3.13	3.65	Buy	DCF
02/26/18	DMG & Partners	Wilmar	3.13	3.45	Buy	Sum of parts
03/05/18	CIMB	Wilmar	3.18	4.1	Add
03/07/18	UOB Kay Hian	Wilmar	3.16	4.1	Buy	Sum of parts
03/08/18	OCBC	Wilmar	3.18	3.51	Buy
03/14/18	DBS Vickers	Wilmar	3.23	3.65	Buy
04/03/18	DBS Vickers	Wilmar	3.21	3.65	Buy
04/05/18	DMG & Partners	Wilmar	3.08	3.45	Buy

Stock calls for 5 April 2018

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/18	CIMB	China Sunsine	1.25	1.62	Add	PER9.8x CY19
04/05/18	OCBC	Frasers Commercial Trust	1.41	1.51	Buy
04/05/18	UOB Kay Hian	Genting	1.03	1.3	Buy	EV/Ebitda10.4x FY18
04/05/18	Amfrasers	Mindchamps	0.74	0.86	Buy	PER23.2x FY18
04/05/18	Amfrasers	Sing Holdings	0.42	0.68	Buy	RNAV (30% discount), PB1x FY17
04/05/18	DMG & Partners	Wilmar	3.08	3.45	Buy

The 3rd company, Vard, is delisting from SGX in 2018.

http://www.businesstimes.com.sg/companies-markets/vard-gets-sgx-nod-for-proposed-delisting

Vard is the 3rd company to leave SGX in 2018.

SGX will be in serious trouble when there are more delisting than IPO listing.

http://sg-stock.blogspot.sg/2018/02/another-company-jaya-is-leaving-sgx.html

Who will win in a trade war? US or China?

Who will emerge as a winner in this trade war?

The main determinant to be a winner in this trade war is actually the country saving rate.  The Chinese are savers but the Americans are spenders.  In a trade war, the high saving rate will help the country to withstand the price hikes and support the economy.  When the citizens have little savings, they will not support the country in a trade war and oust the government for causing them the miseries. This is a fact of life and Trump doesn't get it because he is a billionaire.

OMG! Africa is splitting up into 2 continents soon!

https://qz.com/1244443/scientists-now-have-evidence-africa-is-physically-splitting-into-two-continents/

Nothing can stop the forces of nature.

Wheelock Properties - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/02/16	Lim & Tan	Wheelock Properties	1.435	0	Buy
03/02/16	OCBC	Wheelock Properties	1.435	2.27	Buy
05/16/16	OCBC	Wheelock Properties	1.425	2.27	Buy
03/01/17	Lim & Tan	Wheelock Properties	1.82	0	Hold
03/13/17	OCBC	Wheelock Properties	1.88	2.27	Buy
06/02/17	Phillip	Wheelock Properties	1.74	2.28	Trading Buy	RNAV (15% discount)
06/05/17	OCBC	Wheelock Properties	1.82	2.27	Buy
06/14/17	DBS Vickers	Wheelock Properties	1.895	2.27	Buy
08/15/17	OCBC	Wheelock Properties	1.805	2.27	Buy
09/06/17	UOB Kay Hian	Wheelock Properties	1.84	2.33	Buy	RNAV (15% discount)
09/28/17	OCBC	Wheelock Properties	1.865	2.27	Buy
10/06/17	Lim & Tan	Wheelock Properties	1.905	0	Buy
11/15/17	UOB Kay Hian	Wheelock Properties	1.95	2.33	Buy	RNAV (15% discount)
11/24/17	OCBC	Wheelock Properties	1.91	2.27	Buy
12/01/17	UOB Kay Hian	Wheelock Properties	1.9	2.33	Buy
12/14/17	OCBC	Wheelock Properties	1.89	2.27	Buy
03/01/18	OCBC	Wheelock Properties	1.87	2.34	Buy

Viva Industrial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/07/16	OCBC	Viva Industrial	0.705	0.75	Buy	DDM
07/28/16	OCBC	Viva Industrial	0.77	0.76	Hold	DDM
09/13/16	DMG & Partners	Viva Industrial	0.795	0.85	Buy
11/09/16	OCBC	Viva Industrial	0.74	0.81	Buy	DDM
12/05/16	DMG & Partners	Viva Industrial	0.75	0.85	Buy
01/10/17	CIMB	Viva Industrial	0.755	0.83	Not Rated	Bloomberg consensus
01/20/17	OCBC	Viva Industrial	0.765	0.78	Buy
01/27/17	DMG & Partners	Viva Industrial	0.765	0.85	Buy	DDM
01/27/17	OCBC	Viva Industrial	0.765	0.8	Buy
02/03/17	Religare	Viva Industrial	0.765	0.9	Buy
03/10/17	DMG & Partners	Viva Industrial	0.78	0.85	Buy
04/07/17	DMG & Partners	Viva Industrial	0.79	0.85	Buy	DDM
04/18/17	Kim Eng	Viva Industrial	0.795	0.95	Buy	DDM
04/26/17	OCBC	Viva Industrial	0.79	0.795	Buy
05/02/17	DMG & Partners	Viva Industrial	0.815	0.85	Buy	DDM
05/02/17	OCBC	Viva Industrial	0.815	0.825	Buy
05/23/17	OCBC	Viva Industrial	0.805	0.83	Buy
06/14/17	Amfrasers	Viva Industrial	0.84	0.88	Hold	Consensus target
06/22/17	Kim Eng	Viva Industrial	0.86	0.95	Buy
07/03/17	Kim Eng	Viva Industrial	0.89	0.95	Buy
07/12/17	DMG & Partners	Viva Industrial	0.905	0.85	Buy
07/18/17	DMG & Partners	Viva Industrial	0.915	0.97	Buy	DDM
07/27/17	OCBC	Viva Industrial	0.92	0.895	Hold
07/27/17	Kim Eng	Viva Industrial	0.92	1	Buy	DDM
08/03/17	Kim Eng	Viva Industrial	0.82	1	Buy
08/07/17	Amfrasers	Viva Industrial	0.925	0.97	Buy	DDM
08/21/17	CIMB	Viva Industrial	0.925	0.96	Not Rated	Bloomberg consensus
09/21/17	DMG & Partners	Viva Industrial	0.945	0.97	Buy
10/10/17	DMG & Partners	Viva Industrial	0.94	0.97	Buy	DDM
10/30/17	OCBC	Viva Industrial	0.96	0.9	Hold
10/30/17	DMG & Partners	Viva Industrial	0.96	1.02	Buy	DDM
01/29/18	Kim Eng	Viva Industrial	0.94	1.05	Buy	DDM
01/29/18	OCBC	Viva Industrial	0.94	0.93	Hold
03/23/18	OCBC	Viva Industrial	0.75	0.93	Buy
04/02/18	OCBC	Viva Industrial	0.885	0.93	Buy

Stock calls for 4 April 2018

Date	Analyst	Company	Last	Target	Call	Valuation
04/04/18	DBS Vickers	Ezion	0.197	0.13	Fully Valued
04/04/18	Amfrasers	Jiutian	0.064	0.11	Not Rated	PER10x FY18
04/04/18	DMG & Partners	OUE Hospitality	0.795	0.95	Buy
04/04/18	Soochow SSD	Oxley	0.495	0.63	Buy	RNAV (20% discount)
04/04/18	DBS Vickers	PACC Offshore	0.35	0.32	Hold	PB1x
04/04/18	UOB Kay Hian	Sembcorp Industries	3.06	3.28	Hold	Sum of parts, Buy @ $3
04/04/18	DMG & Partners	UOB	26.96	30	Buy

China imposes more tariffs against US goods.

https://finance.yahoo.com/news/china-announces-additional-tariffs-50-080902867.html

This is getting interesting!

http://www.theiskandarian.com/web/ytl-secures-gemas-johor-bahru-electrified-double-tracking-railway-project/

Gemas-Johor Bahru Electrified Double-Tracking Railway Project was awarded to China.

This might mean that the KL-SG HSR would not be awarded to China since this double-tracking railway was awarded to China already.

Malaysia would not want to award everything to China because it would be an over-reliant on China construction.  Therefore, it is in Malaysia's interest to diversify the risks even though China offers the most economical construction cost.

Let's see how this will pan out.

 

Venture - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/16	UOB Kay Hian	Venture	8.06	9.15	Buy
02/26/16	CIMB	Venture	8.04	9.52	Add	PER14x FY17
02/26/16	Lim & Tan	Venture	8.04	0	Buy
02/26/16	OCBC	Venture	8.04	9	Buy
02/26/16	UOB Kay Hian	Venture	8.04	9.25	Buy	PER16x FY16
02/29/16	DMG & Partners	Venture	8.22	9.1	Buy	PER15.5x FY16
02/29/16	Kim Eng	Venture	8.22	9.6	Buy	PER16.5x
03/03/16	CIMB	Venture	8.24	9.52	Add
03/03/16	Citigroup	Venture	8.24	9.11	Buy
03/17/16	DBS Vickers	Venture	8.21	9	Buy
04/08/16	UOB Kay Hian	Venture	8.43	9.25	Buy	PER16x FY16
04/29/16	CIMB	Venture	8.39	9.52	Add	PER14x CY17
04/29/16	DBS Vickers	Venture	8.39	9	Buy	PER15X FY16
04/29/16	Lim & Tan	Venture	8.39	0	Buy
04/29/16	OCBC	Venture	8.39	9	Buy
05/18/16	CIMB	Venture	8.16	9.52	Add
06/27/16	CIMB	Venture	8.63	9.52	Add
07/08/16	OCBC	Venture	8.56	9.35	Buy	PER15x FY16/17
07/15/16	UOB Kay Hian	Venture	8.82	9.82	Buy	PER16x FY17
08/08/16	CIMB	Venture	8.9	9.52	Hold	PER14x CY17
08/08/16	DBS Vickers	Venture	8.9	9.2	Hold
08/08/16	DMG & Partners	Venture	8.9	9.9	Buy
08/08/16	Lim & Tan	Venture	8.9	0	Buy
08/08/16	OCBC	Venture	8.9	9.35	Buy	Buy @ $8.80
08/08/16	UOB Kay Hian	Venture	8.9	9.82	Buy	PER16x FY17
08/10/16	Kim Eng	Venture	8.98	9.75	Buy	PER14x FY17
09/20/16	CIMB	Venture	8.99	9.52	Hold
10/06/16	UOB Kay Hian	Venture	9.3	10.3	Buy	PER16x FY17
10/28/16	CIMB	Venture	9.25	10.57	Add	PER14.4x
11/07/16	CIMB	Venture	9.5	10.94	Add	PER14.4x CY18
11/07/16	Citigroup	Venture	9.5	10.51	Buy
11/07/16	DBS Vickers	Venture	9.5	10.9	Buy
11/07/16	DMG & Partners	Venture	9.5	9.9	Buy	DCF, PER15.8x FY17
11/07/16	Kim Eng	Venture	9.5	11	Buy	PER15x FY17
11/07/16	Lim & Tan	Venture	9.5	0	Buy
11/07/16	OCBC	Venture	9.5	10.36	Buy	PER15x FY17
11/07/16	UOB Kay Hian	Venture	9.5	11	Buy	PER16x FY17
12/01/16	OCBC	Venture	9.71	10.36	Buy
12/06/16	CIMB	Venture	10.04	10.94	Add	PER14.4x FY18
12/08/16	Citigroup	Venture	9.93	10.51	Buy
12/13/16	Kim Eng	Venture	9.66	11	Buy	PER15x
12/15/16	DBS Vickers	Venture	9.9	10.9	Buy	PER16x FY17
01/03/17	UOB Kay Hian	Venture	9.88	11	Buy
01/19/17	DBS Vickers	Venture	9.84	10.9	Buy
01/20/17	CIMB	Venture	9.8	10.94	Add
01/23/17	Credit Suisse	Venture	9.74	11.6	Outperform
02/08/17	UOB Kay Hian	Venture	10.28	11	Buy
02/10/17	CIMB	Venture	10.37	10.94	Add	PER14.4x FY18
02/10/17	Credit Suisse	Venture	10.37	11.6	Outperform
02/27/17	CIMB	Venture	10.32	11.5	Add	PER14.4x CY18
02/27/17	Credit Suisse	Venture	10.32	11.9	Outperform
02/27/17	DBS Vickers	Venture	10.32	11.37	Buy	PER16x FY17
02/27/17	DMG & Partners	Venture	10.32	11.2	Buy	DCF, PER16x FY17
02/27/17	Kim Eng	Venture	10.32	11.5	Buy	PER15x FY17
02/27/17	OCBC	Venture	10.32	11	Buy
02/27/17	UOB Kay Hian	Venture	10.32	12.4	Buy	PER16x FY17
03/02/17	UOB Kay Hian	Venture	10.71	12.4	Buy
05/02/17	CIMB	Venture	12.2	12.01	Hold	PER14.4x FY18
05/02/17	DMG & Partners	Venture	12.2	14.1	Buy	DCF, PER17x FY17
05/02/17	Kim Eng	Venture	12.2	13.35	Buy	PER16x FY17
05/02/17	Lim & Tan	Venture	12.2	0	Buy
05/02/17	OCBC	Venture	12.2	13	Buy	DCF
05/02/17	UOB Kay Hian	Venture	12.2	13.6	Buy	PER16x FY17
05/03/17	DBS Vickers	Venture	12.9	14.3	Buy	PER18.6x FY17/18
06/02/17	UOB Kay Hian	Venture	13	13.3	Hold	PER16.2x FY17, Buy @ $12
07/05/17	CIMB	Venture	11.89	12.01	Hold	PER14.4x FY18
07/05/17	UOB Kay Hian	Venture	11.89	13.3	Hold
07/10/17	OCBC	Venture	11.8	13	Buy
08/07/17	UOB Kay Hian	Venture	13.85	15.15	Buy	PER16x FY18
08/07/17	DMG & Partners	Venture	13.85	14.7	Buy	DCF, PER17x FY17
08/07/17	OCBC	Venture	13.85	14.8	Buy	DCF
08/07/17	CIMB	Venture	13.85	15.8	Add	PER15.2x FY18
08/07/17	Lim & Tan	Venture	13.85	0	Buy
08/08/17	DBS Vickers	Venture	14.89	16.6	Buy	PER18.2x FY18
08/10/17	Credit Suisse	Venture	15.7	16.4	Outperform
09/13/17	Lim & Tan	Venture	15.25	0	Buy
09/15/17	Credit Suisse	Venture	16.2	20	Outperform
09/26/17	DMG & Partners	Venture	17.29	19.7	Buy	DCF, PER19x FY18
10/03/17	CIMB	Venture	18.06	20.87	Add	PER17.3x FY18
10/06/17	DBS Vickers	Venture	18.6	21	Buy	PER20x FY18/19
10/12/17	OCBC	Venture	18.55	20.33	Buy
11/06/17	UOB Kay Hian	Venture	19.29	23.5	Buy	PER18x FY18
11/06/17	DMG & Partners	Venture	19.29	24.1	Buy	DCF, PER18x FY18
11/06/17	OCBC	Venture	19.29	23	Buy
11/06/17	CIMB	Venture	19.29	24.74	Add	PER17.3x FY19
11/06/17	Lim & Tan	Venture	19.29	0	Buy
11/06/17	DBS Vickers	Venture	19.29	26	Buy	PER19.5x FY18/19
11/06/17	Credit Suisse	Venture	19.29	22.1	Outperform
12/06/17	DBS Vickers	Venture	20.54	26	Buy
12/20/17	CIMB	Venture	20.2	24.74	Add
01/05/18	DBS Vickers	Venture	21.97	26	Buy
01/10/18	Kim Eng	Venture	21.57	27.5	Buy	PER18.8x FY18
01/15/18	UOB Kay Hian	Venture	22.65	23.5	Buy
01/19/18	Lim & Tan	Venture	23.15	0	Buy
01/24/18	DMG & Partners	Venture	23.9	24.1	Buy
01/24/18	Credit Suisse	Venture	23.9	27.2	Outperform
02/07/18	CIMB	Venture	22.48	24.74	Add
02/08/18	CIMB	Venture	22.29	29.13	Add
02/13/18	UOB Kay Hian	Venture	21.92	23.5	Buy
02/20/18	DMG & Partners	Venture	23.53	24.1	Buy
02/23/18	UOB Kay Hian	Venture	25.03	31.88	Buy	PER19x FY18
03/01/18	OCBC	Venture	27.56	34	Buy
03/01/18	UOB Kay Hian	Venture	27.56	31.88	Buy	PER19x FY18
03/01/18	DMG & Partners	Venture	27.56	30.5	Buy	DCF, PER19x FY18
03/01/18	Kim Eng	Venture	27.56	31.2	Buy	PB3.7x FY18
03/01/18	CIMB	Venture	27.56	30.81	Add	PER17.7x FY19
03/01/18	Lim & Tan	Venture	27.56	0	Buy
03/01/18	DBS Vickers	Venture	27.56	32.2	Buy	PER19.5x FY18/19
03/05/18	Credit Suisse	Venture	26.84	32	Outperform
04/03/18	DBS Vickers	Venture	28.14	32.2	Buy