Hotel Properties - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/28/17	OCBC	Hotel Properties	3.76	4.83	Buy
08/16/17	OCBC	Hotel Properties	3.87	4.83	Buy
02/28/18	OCBC	Hotel Properties	3.78	4.74	Buy	RNAV
03/09/18	OCBC	Hotel Properties	3.77	4.74	Buy

Stock calls for 4 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/04/18	UOB Kay Hian	A-Reit	2.64	3.05	Buy
06/04/18	UOB Kay Hian	CapitaCommercial	1.69	2.09	Buy
06/04/18	UOB Kay Hian	CDL Hospitality	1.68	1.95	Buy
06/04/18	UOB Kay Hian	City Developments	11.25	14.03	Buy
06/04/18	UOB Kay Hian	Cityneon	0.98	1.55	Buy
06/04/18	Lim & Tan	CourtsAsia	0.215	0	Hold
06/04/18	UOB Kay Hian	CSE Global	0.465	0.61	Buy
06/04/18	phillip	DBS	28.3	32.7	Accumulate
06/04/18	UOB Kay Hian	DBS	28.3	35.5	Buy
06/04/18	CIMB	ESR-Reit	0.505	0.62	Add
06/04/18	Amfrasers	Geo Energy	0.225	0.3	Buy	DCF, PER6x FY18
06/04/18	UOB Kay Hian	Keppel Corp	7.65	9	Buy
06/04/18	OCBC	KSH	0.635	0.98	Buy
06/04/18	UOB Kay Hian	M1	1.71	1.6	Sell
06/04/18	phillip	OCBC	12.53	14.9	Accumulate
06/04/18	Kim Eng	Oxley	0.46	0.56	Buy	RNAV (20% discount)
06/04/18	CIMB	Sembcorp Industries	2.93	3.49	Add
06/04/18	DBS Vickers	Sembcorp Industries	2.93	4.5	Buy
06/04/18	UOB Kay Hian	Singapore Post	1.32	1.59	Buy
06/04/18	UOB Kay Hian	Singtel	3.25	4.22	Buy
06/04/18	UOB Kay Hian	ST Engineering	3.45	4.1	Buy
06/04/18	UOB Kay Hian	Sunningdale	1.38	2	Buy
06/04/18	UOB Kay Hian	Tianjin Zhongxin	1.21	1.72	Buy
06/04/18	phillip	UOB	28.1	31.7	Accumulate

We urge US to come clean on Iraq invasion!

https://uk.reuters.com/article/uk-china-tiananmen/us-urges-china-to-come-clean-on-tiananmen-anniversary-idUKKCN1J00AE

USA, please come clean on Iraq invasion before you point your finger at another country.

http://sg-stock.blogspot.com/2016/07/chilcot-report-revealed-truth-about.html

The USA is fearmongering again!

https://sg.news.yahoo.com/mattis-slams-china-c-sea-leaves-door-open-004735521.html

The USA is embarking on a smearing campaign again.

The timeline shows that China only started to militarize the South China Sea (SCS) when the USA started to create troubles in SCS by sending their naval vessels to conduct freedom of navigation (FON).  The militarization is a counter response to the USA FON, not to intimidate or coerce other countries.

This is an internet era and we can find the timeline of activities in SCS to disapprove the USA's accusation.  There is a direct causation between US FON and China militarization in SCS.

China to void trade deals if the USA insists on implementing the tariffs.

https://www.bbc.com/news/business-44346461

China has given its latest warning to the USA for implementing the USA tariffs against China.

Let's see if Trump will really do it.

Baltic dry index - 1156

Today, Friday, June 01 2018, the Baltic Dry Index climbed by 66 points, reaching 1156 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.

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

Related stocks: Semcorp Marine, Cosco & Pan Ocean

US rig count - 1060

HOUSTON — The number of rigs exploring for oil and natural gas in the U.S. increased by one this week to 1,060.
At this time a year ago there were 916 active rigs.
Houston oilfield services company Baker Hughes reported Friday that 861 rigs drilled for oil this week and 197 for gas. Two were listed as miscellaneous.
Among major oil- and gas-producing states, Oklahoma added two rigs, and Colorado, Texas, and Wyoming each added one.
Louisiana lost two rigs. New Mexico and North Dakota each lost one.
Alaska, Arkansas, California, Ohio, Pennsylvania, 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.

The US-NK summit is back in Singapore again!

https://sg.news.yahoo.com/top-north-korean-general-way-us-ahead-summit-064336576.html

Whether there will be a last minute cancellation, only the god knows!

Nevertheless, Singapore will be preparing for this US-NK summit and security will be tight in June 2018.

Facebook doesn't respect shareholders!

https://www.channelnewsasia.com/news/business/facebook-says-all-directors-elected--shareholder-proposals-rejected-10304198

This is the inception of a downfall.

https://www.channelnewsasia.com/news/business/facebook-sinking-fast-among-us-teens-survey-10303044

Opps! It may have already happened.  Teens are dumping FB already as we speak.

Mahathir has shown his true colour which is his hatred for Singapore.

https://fairplay.ihs.com/commerce/article/4302161/mahathir-cancels-singapore-rail-link-renegotiates-china-project

Mahathir doesn't want Singapore to be connected to the OBR initiative and therefore has cancelled the HSR project.  However, he will still retain the rail link with China by renegotiating for better terms.

He just doesn't want SG to reap the economic benefits and uses this HSR cancellation to slow SG growth.  In short, he still hates SG deeply in his heart.

HongKong Land - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/17	CIMB	Hongkong Land	7.02	7.8	Add	RNAV (40% discount)
03/03/17	DBS Vickers	Hongkong Land	7.02	7.8	Buy	RNAV (35% discount)
03/03/17	Lim & Tan	Hongkong Land	7.02	0	Buy
03/06/17	Credit Suisse	Hongkong Land	6.84	7.2	Neutral
03/06/17	DBS Vickers	Hongkong Land	6.84	7.9	Buy
04/04/17	CIMB	Hongkong Land	7.72	8.5	Add	RNAV (35% discount)
05/04/17	DBS Vickers	Hongkong Land	7.75	8.51	Buy	RNAV (30% discount)
06/13/17	Lim & Tan	Hongkong Land	7.76	0	Buy
08/03/17	DBS Vickers	Hongkong Land	7.54	8.93	Buy	RNAV (30% discount)
08/04/17	CIMB	Hongkong Land	7.59	9.1	Add	RNAV (35% discount)
08/07/17	DIR	Hongkong Land	7.8	9.3	Buy	RNAV (30% discount), Up from $8.70
11/10/17	DBS Vickers	Hongkong Land	7.32	8.93	Buy	RNAV (30% discount)
12/20/17	CIMB	Hongkong Land	7.16	9.1	Add
03/09/18	CIMB	Hongkong Land	6.76	9.1	Add	RNAV (35% discount)
03/09/18	Lim & Tan	Hongkong Land	6.76	0	Buy
03/12/18	DBS Vickers	Hongkong Land	7.02	8.53	Buy	RNAV (35% discount)
03/13/18	CIMB	Hongkong Land	7	9.5	Add	RNAV (30% discount)
05/11/18	DBS Vickers	Hongkong Land	7.26	8.53	Buy

Hong Leong Finance - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/17	DBS Vickers	Hong Leong Finance	2.7	3.2	Buy	GGM, PB0.8x FY17
08/10/17	DBS Vickers	Hong Leong Finance	2.63	3.2	Buy	GGM, PB0.8x FY17
11/13/17	DBS Vickers	Hong Leong Finance	2.72	3.2	Buy	GGM, PB0.8x FY17
01/05/18	DBS Vickers	Hong Leong Finance	2.77	3.2	Buy
02/28/18	DBS Vickers	Hong Leong Finance	2.68	3.2	Buy	GGM, PB0.8x FY17
05/03/18	DBS Vickers	Hong Leong Finance	2.8	3.2	Buy	GGM

Stock calls for 1 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/01/18	Amfrasers	Accordia Golf Trust	0.605	0.7	Buy	DDM
06/01/18	Phillip	Aoxin Q&M	0.22	0.29	Not Rated	PER35x FY19
06/01/18	OCBC	Hutchison Port	0.275	0.43	Buy
06/01/18	CIMB	Jubilee	0.039	0.051	Add	Sum of parts
06/01/18	Lim & Tan	KSH	0.645	0	Hold
06/01/18	UOB Kay Hian	OCBC	12.54	16.5	Buy	GGM, PB1.68 FY18
06/01/18	OCBC	SGX	7.24	7.89	Buy	PER23x
06/01/18	SAC Advisors	SLB Dev	0.215	0.28	Buy

Singapore ministers do not dare to comment on Mahathir's intention to build an island on the middle rocks.

https://www.channelnewsasia.com/news/singapore/pedra-branca-singapore-malaysia-icj-to-drop-challenge-10291432

https://www.todayonline.com/content/full-singapore-ministry-foreign-affairs-statement-malaysias-decision-withdraw-icj-challenge

2 Singapore ministers (current & ex) commented on Pedra Branca but both didn't comment on the middle rocks' island that Malaysia was constructing.

It is definitely a security concern to Singapore that Malaysia is building an island for maritime purpose so near to Singapore (just 44km away) but SG doesn't dare to make any remark.

Mahathir is embarking on his anti-Singapore barrage by trying to contain Singapore.  First, it was the HSR cancellation and followed immediately by the island construction remark on the middle rocks.  This won't be the end but a beginning as he loves to skin SG alive.

Hock Lian Seng - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/16/17	UOB Kay Hian	Hock Lian Seng	0.515	0.69	Buy	PER7.6x FY17, Ex-Cash
03/02/17	phillip	Hock Lian Seng	0.585	0.57	Neutral	Sum of parts
03/02/17	UOB Kay Hian	Hock Lian Seng	0.585	0.69	Buy
05/11/17	phillip	Hock Lian Seng	0.475	0.57	Accumulate	Sum of parts
05/11/17	UOB Kay Hian	Hock Lian Seng	0.475	0.585	Buy	PER7.6x FY17, Ex-Cash
12/06/17	DBS Vickers	Hock Lian Seng	0.455	0.58	Not Rated	PER11x FY18
02/20/18	UOB Kay Hian	Hock Lian Seng	0.495	0.63	Buy
02/27/18	UOB Kay Hian	Hock Lian Seng	0.51	0.65	Buy

Ho Bee - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/17	Kim Eng	Ho Bee	2.06	2.13	Hold
02/06/17	phillip	Ho Bee	2.29	2	Accumulate
02/09/17	Lim & Tan	Ho Bee	2.3	0	Buy
02/28/17	Kim Eng	Ho Bee	2.3	2.47	Hold
03/02/17	phillip	Ho Bee	2.26	2.64	Accumulate	RNAV (30% discount)
03/08/17	UOB Kay Hian	Ho Bee	2.32	2.82	Buy
03/13/17	Kim Eng	Ho Bee	2.35	2.47	Hold
03/13/17	UOB Kay Hian	Ho Bee	2.35	3.02	Buy
03/16/17	Kim Eng	Ho Bee	2.3	2.6	Hold
04/26/17	Kim Eng	Ho Bee	2.31	2.6	Hold	RNAV (36% discount)
04/27/17	phillip	Ho Bee	2.37	2.64	Accumulate	RNAV (30% discount)
05/29/17	Kim Eng	Ho Bee	2.36	3	Buy	RNAV (29% discount)
06/16/17	Kim Eng	Ho Bee	2.37	3	Buy
07/11/17	Kim Eng	Ho Bee	2.35	3	Buy
08/14/17	phillip	Ho Bee	2.32	2.98	Accumulate	RNAV (30% discount)
08/22/17	CIMB	Ho Bee	2.35	3.39	Add	RNAV (35% discount)
08/28/17	Kim Eng	Ho Bee	2.39	3	Buy
09/18/17	UOB Kay Hian	Ho Bee	2.32	3.02	Buy
09/25/17	Kim Eng	Ho Bee	2.36	3	Buy
11/10/17	phillip	Ho Bee	2.57	2.98	Accumulate	RNAV (30% discount)
11/17/17	Kim Eng	Ho Bee	2.53	3	Buy
12/01/17	UOB Kay Hian	Ho Bee	2.48	3.02	Buy
12/18/17	Kim Eng	Ho Bee	2.41	3	Buy
03/01/18	Kim Eng	Ho Bee	2.48	3.15	Buy	RNAV (30% discount)
03/02/18	phillip	Ho Bee	2.51	2.98	Accumulate	RNAV (30% discount)
04/11/18	Kim Eng	Ho Bee	2.54	3.15	Buy
04/27/18	Kim Eng	Ho Bee	2.54	3.3	Buy	RNAV
04/27/18	Lim & Tan	Ho Bee	2.54	0	Buy
04/30/18	phillip	Ho Bee	2.56	2.98	Accumulate	RNAV (30% discount)

Stock calls for 31 May 2018

Date	Analyst	Company	Last	Target	Call	Valuation
05/31/18	Lim & Tan	Accordia Golf Trust	0.595	0	Hold
05/31/18	NRA	Accrelist	0.006	0.012	Overweight
05/31/18	CIMB	Dairy Farm	8.95	9.55	Add
05/31/18	DBS Vickers	Frasers Commercial Trust	1.36	1.65	Buy
05/31/18	phillip	Old Chang Kee	0.755	0.98	Buy	DCF, PER22.6x FY19
05/31/18	phillip	SATS	5.28	5.58	Accumulate	DCF
05/31/18	UOB Kay Hian	SATS	5.28	5.7	Buy	DCF, PER24.3x FY19
05/31/18	DBS Vickers	SATS	5.28	5.64	Buy
05/31/18	OCBC	SATS	5.28	5.5	Hold
05/31/18	DBS Vickers	Yoma	0.4	0.58	Buy

HMI - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/10/17	Amfraserss	HMI	0.645	0.84	Buy
02/13/17	Amfraserss	HMI	0.645	0.86	Buy	DCF, PER36x FY18
03/10/17	phillip	HMI	0.61	0.83	Buy	DCF
03/13/17	CIMB	HMI	0.635	0.81	Add	DCF
03/24/17	OCBC	HMI	0.64	0.8	Buy	DCF
04/20/17	OCBC	HMI	0.625	0.8	Buy
04/20/17	UOB Kay Hian	HMI	0.625	0.83	Buy	DCF
05/09/17	CIMB	HMI	0.615	0.81	Add	DCF
05/12/17	OCBC	HMI	0.605	0.8	Buy	DCF
05/15/17	Amfrasers	HMI	0.6	0.86	Buy	DCF, PER38x FY18
05/15/17	CIMB	HMI	0.6	0.83	Add	DCF
05/15/17	phillip	HMI	0.6	0.83	Buy	DCF, PER35x FY18
06/05/17	Kim Eng	HMI	0.63	0.84	Buy	DCF, PER35x FY18
06/08/17	OCBC	HMI	0.69	0.8	Buy
06/19/17	UOB Kay Hian	HMI	0.685	0.83	Buy	DCF
08/01/17	UOB Kay Hian	HMI	0.665	0.83	Buy	DCF
08/24/17	OCBC	HMI	0.65	0.8	Buy	DCF
08/25/17	Kim Eng	HMI	0.645	0.8	Buy	DCF
08/25/17	CIMB	HMI	0.645	0.83	Add	DCF
08/29/17	phillip	HMI	0.645	0.83	Buy	DCF
09/11/17	UOB Kay Hian	HMI	0.635	0.83	Buy	DCF
11/15/17	CIMB	HMI	0.715	0.83	Add	DCF
11/15/17	phillip	HMI	0.715	0.83	Buy	DCF
11/15/17	UOB Kay Hian	HMI	0.715	0.83	Buy	DCF
11/15/17	Kim Eng	HMI	0.715	0.8	Buy	DCF
01/08/18	CIMB	HMI	0.665	0.83	Add	DCF
02/14/18	phillip	HMI	0.63	0.83	Buy	DCF
02/14/18	UOB Kay Hian	HMI	0.63	0.83	Buy	DCF
02/14/18	Kim Eng	HMI	0.63	0.8	Buy	DCF
05/11/18	phillip	HMI	0.645	0.83	Buy	DCF
05/11/18	UOB Kay Hian	HMI	0.645	0.83	Buy	DCF
05/16/18	Kim Eng	HMI	0.665	0.8	Buy

Hi-P - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/23/17	DBS Vickers	Hi-P	0.88	1.07	Buy	PER12x FY18
06/16/17	DBS Vickers	Hi-P	0.935	1.07	Buy
08/07/17	DBS Vickers	Hi-P	1.19	1.45	Buy	PER13x
10/03/17	DBS Vickers	Hi-P	1.405	1.67	Buy	PER13.2x FY18
11/08/17	DBS Vickers	Hi-P	1.93	2.3	Buy	PER15.4x FY18
12/06/17	DBS Vickers	Hi-P	1.61	2.3	Buy
12/21/17	Kim Eng	Hi-P	1.75	2.11	Buy	PB3.4x FY17, PER13.6x FY18, PEG0.7x
02/15/18	Kim Eng	Hi-P	1.92	2.43	Buy	PB3.2x FY18
02/15/18	DBS Vickers	Hi-P	1.92	2.48	Buy	PER14.4x FY18
04/03/18	DBS Vickers	Hi-P	2.17	2.48	Buy
04/27/18	DBS Vickers	Hi-P	1.8	1.88	Hold	PER13.3x FY18
05/03/18	DBS Vickers	Hi-P	1.69	1.8	Hold	PER13.3x FY18
05/03/18	Lim & Tan	Hi-P	1.69	0	Sell
05/04/18	Kim Eng	Hi-P	1.57	1.45	Hold	PB2x

Hatten Land - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/28/17	NRA	Hatten Land	0.27	0.44	Overweight
03/14/17	UOB Kay Hian	Hatten Land	0.285	0.43	Buy	Sum of parts
05/16/17	UOB Kay Hian	Hatten Land	0.196	0.43	Buy	Sum of parts
06/21/17	CIMB	Hatten Land	0.181	0.38	Add	RNAV (45% discount)
07/05/17	UOB Kay Hian	Hatten Land	0.225	0.43	Buy
08/18/17	CIMB	Hatten Land	0.2	0.38	Add	RNAV (45% discount)
08/21/17	NRA	Hatten Land	0.205	0.46	Overweight	DCF, PER20.2x FY18