Old Chang Kee - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/14/17	phillip	Old Chang Kee	0.835	0.98	Buy	DCF
04/17/17	phillip	Old Chang Kee	0.85	0.98	Buy
06/05/17	phillip	Old Chang Kee	0.83	0.98	Buy	DCF
08/17/17	phillip	Old Chang Kee	0.765	0.98	Buy	DCF
11/14/17	phillip	Old Chang Kee	0.75	0.98	Buy	DCF
12/04/17	phillip	Old Chang Kee	0.76	0.98	Buy	DCF
02/15/18	phillip	Old Chang Kee	0.745	0.98	Buy	DCF
03/19/18	phillip	Old Chang Kee	0.76	0.98	Buy
04/16/18	phillip	Old Chang Kee	0.775	0.98	Buy
05/31/18	phillip	Old Chang Kee	0.755	0.98	Buy	DCF, PER22.6x FY19

Stock calls for 13 November 2018

Date	Analyst	Company	Last	Target	Call	Valuation
11/13/18	Phillip	800Super	0.785	0.8	Neutral	DCF, PER18.2x FY19
11/13/18	DMG & Partners	APAC Realty	0.495	0.72	Buy	DCF
11/13/18	DMG & Partners	Avi-Tech	0.32	0.34	Neutral	DCF
11/13/18	DBS Vickers	Bumitama	0.61	0.85	Buy	DCF, PER14.5x FY19
11/13/18	UOB Kay Hian	Bumitama	0.61	0.81	Buy	PER11x FY19
11/13/18	Kim Eng	Bumitama	0.61	0.98	Buy
11/13/18	Amfrasers	Comfortdelgro	2.21	2.72	Buy	PER19x FY18
11/13/18	Soochow	Dasin Retail	0.855	0.97	Buy
11/13/18	DBS Vickers	Ezion	0.047	0.14	Buy	PB0.8x FY18
11/13/18	DBS Vickers	First Resources	1.56	1.97	Buy	DCF
11/13/18	CIMB	First Resources	1.56	2.08	Add	PER15x FY19
11/13/18	DBS Vickers	Frasers Property	1.63	1.98	Buy	RNAV (35% discount)
11/13/18	OCBC	Golden Agri	0.245	0.24	Hold
11/13/18	Amfrasers	Japan Foods	0.455	0.56	Hold	DCF
11/13/18	DBS Vickers	Koufu	0.635	0.8	Buy	PER17x FY19
11/13/18	CIMB	Lippo-Malls Indo	0.23	0.27	Hold	DDM
11/13/18	OCBC	OUE	1.37	2.25	Buy
11/13/18	Kim Eng	Sasseur	0.68	0.9	Buy
11/13/18	DMG & Partners	ST Engineering	3.5	3.97	Buy
11/13/18	Amfrasers	Thai Beverage	0.65	0.75	Buy	Sum of parts
11/13/18	DBS Vickers	UOB	24.49	29.5	Buy
11/13/18	Kim Eng	Valuetronics	0.68	0.96	Buy	ROE-g/COE-g
11/13/18	UOB Kay Hian	Valuetronics	0.68	0.87	Buy	PER10.9x FY19
11/13/18	DMG & Partners	Valuetronics	0.68	0.82	Buy	DCF, PER10x FY19
11/13/18	CIMB	Valuetronics	0.68	0.93	Add	PER10x CY19
11/13/18	CIMB	Wilmar	3.18	4.1	Add	Sum of parts
11/13/18	UOB Kay Hian	Wilmar	3.18	3.9	Buy	Sum of parts, PER13.7x FY19

China is selling USD!

https://sg.finance.yahoo.com/news/china-state-banks-seen-selling-dollars-fx-market-034935772--business.html

China is selling USD to defend its yuan.

We've explained this previously.

https://sg-stock.blogspot.com/2018/11/the-more-us-tries-to-hurt-china-more-it.html

Johor-Singapore crooked bridge to start in 2019

https://www.malaymail.com/s/1692809/mb-says-third-johor-singapore-bridge-to-start-2019

If construction of the new crooked bridge really starts next year, it will mean that the causeway on Malaysia side will be dismantled in the future and this will include the water pipes that link to SG.

What is SG government going to do about it?

Olam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/01/17	DBS Vickers	Olam	2.05	2.12	Hold	DCF & PER16.4x
05/16/17	DBS Vickers	Olam	1.99	2.15	Hold	DCF & PER16.3x
03/01/18	DBS Vickers	Olam	2.25	2.31	Hold	DCF & PER16.1x
04/03/18	DBS Vickers	Olam	2.32	2.31	Hold

OKP - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/15/17	DBS Vickers	OKP	0.395	0.45	Not Rated	PER11x FY17
06/28/17	Amfrasers	OKP	0.445	0.52	Buy	PER11x FY17
07/17/17	Amfrasers	OKP	0.395	0.39	Hold
02/20/18	Amfrasers	OKP	0.35	0.39	Hold

OCBC Bank - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	OCBC	8.92	8.81	Neutral
01/03/17	UOB Kay Hian	OCBC	8.92	10.45	Buy
01/04/17	Kim Eng	OCBC	8.98	7.4	Sell
01/06/17	UOB Kay Hian	OCBC	9.18	10.65	Buy	GGM, PB1.2x FY17
01/11/17	DIR	OCBC	9.35	11	Buy
01/11/17	UBS	OCBC	9.35	10.3	Buy
02/02/17	Lim & Tan	OCBC	9.48	0	Hold
02/03/17	CIMB	OCBC	9.45	8.18	Reduce
02/06/17	Macquarie	OCBC	9.42	10	Outperform
02/08/17	UOB Kay Hian	OCBC	9.66	10.65	Buy
02/14/17	Lim & Tan	OCBC	9.75	0	Take profit/Sell	Buy @ $8.49
02/15/17	CIMB	OCBC	9.43	8.83	Reduce	GGM, PB0.98x CY17
02/15/17	Credit Suisse	OCBC	9.43	10.5	Outperform
02/15/17	DBS Vickers	OCBC	9.43	10.3	Hold	GGM, PB1.1x FY17
02/15/17	DIR	OCBC	9.43	11	Buy	GGM, PB1.23x
02/15/17	DMG & Partners	OCBC	9.43	8.9	Neutral	GGM, PB1x FY17
02/15/17	Kim Eng	OCBC	9.43	8.05	Sell	PB0.9x FY17
02/15/17	UOB Kay Hian	OCBC	9.43	10.75	Buy	GGM, PB1.19x FY17
02/16/17	phillip	OCBC	9.45	8.48	Reduce	PB0.95x FY17
03/02/17	UOB Kay Hian	OCBC	9.53	10.75	Buy	GGM, PB1.19x FY17
03/03/17	CIMB	OCBC	9.51	8.83	Reduce
03/03/17	Jefferies	OCBC	9.51	8	Underperform
03/06/17	Macquarie	OCBC	9.49	10	Outperform
03/21/17	DMG & Partners	OCBC	9.63	8.9	Neutral	GGM, PB1x FY17
03/21/17	Kim Eng	OCBC	9.63	8.05	Sell
04/03/17	Kim Eng	OCBC	9.72	8.05	Sell
04/12/17	UOB Kay Hian	OCBC	9.59	10.75	Buy	GGM, PB1.19x FY17
04/18/17	DIR	OCBC	9.59	11	Buy
04/25/17	CIMB	OCBC	9.64	8.83	Reduce
04/25/17	Sanford C Bernstein	OCBC	9.64	10.95	Outperform
05/09/17	DMG & Partners	OCBC	10.3	8.9	Neutral
05/09/17	Lim & Tan	OCBC	10.3	0	Hold
05/09/17	UBS	OCBC	10.3	10.4	Neutral
05/11/17	CIMB	OCBC	10.46	9.94	Hold	GGM, PB1.1x CY17
05/11/17	Credit Suisse	OCBC	10.46	11.1	Outperform
05/11/17	DBS Vickers	OCBC	10.46	10.3	Hold	GGM, PB1.1x FY17
05/11/17	DIR	OCBC	10.46	11	Hold	GGM, PB1.22x FY17
05/11/17	DMG & Partners	OCBC	10.46	10.22	Neutral
05/11/17	Kim Eng	OCBC	10.46	9.85	Hold	PB1.1x FY17
05/11/17	Macquarie	OCBC	10.46	10	Outperform	PB1.19x
05/11/17	phillip	OCBC	10.46	8.48	Reduce	PB0.95x FY17
05/11/17	UOB Kay Hian	OCBC	10.46	11.7	Buy	GGM, PB1.3x FY17
05/23/17	Jefferies	OCBC	10.3	10.5	Hold
06/08/17	UOB Kay Hian	OCBC	10.58	11.7	Buy
06/14/17	Kim Eng	OCBC	10.74	9.85	Hold	PB1.1x FY18
06/28/17	DMG & Partners	OCBC	10.73	10.15	Neutral
06/28/17	UOB Kay Hian	OCBC	10.73	11.7	Buy	GGM, PB1.3x FY17
07/03/17	Kim Eng	OCBC	10.79	9.85	Hold
07/04/17	UOB Kay Hian	OCBC	10.72	13	Buy	GGM, PB1.36x FY18
07/12/17	Credit Suisse	OCBC	10.79	10.9	Neutral
07/27/17	Lim & Tan	OCBC	11.25	0	Hold
07/27/17	UBS	OCBC	11.25	11.3	Neutral
07/28/17	Macquarie	OCBC	11.49	10.4	Neutral	GGM, PB1.27x FY18
07/28/17	phillip	OCBC	11.49	10.81	Neutral	GGM, PB1.2x
07/28/17	DIR	OCBC	11.49	11.5	Hold	GGM, PB1.24x
07/28/17	UOB Kay Hian	OCBC	11.49	13.38	Buy	GGM, PB1.39x FY18
07/28/17	DMG & Partners	OCBC	11.49	10.96	Neutral	GGM, PB1.16x FY17
07/28/17	CIMB	OCBC	11.49	11.98	Hold	GGM, PB1.3x CY17
07/28/17	DBS Vickers	OCBC	11.49	12.8	Buy	GGM, PB1.3x FY18
08/07/17	UOB Kay Hian	OCBC	11.21	13.38	Buy
08/18/17	Macquarie	OCBC	11.14	10.4	Neutral
08/22/17	Kim Eng	OCBC	11.02	11.05	Hold	GGM, PB1.1x FY18
08/23/17	Macquarie	OCBC	11.07	12.2	Outperform
08/23/17	DBS Vickers	OCBC	11.07	12.8	Buy
08/23/17	Deutsche	OCBC	11.07	11.5	Hold
09/12/17	DMG & Partners	OCBC	10.92	10.96	Neutral	PB1.1x FY18
09/18/17	phillip	OCBC	10.95	10.81	Neutral
09/18/17	Kim Eng	OCBC	10.95	11.05	Hold
09/20/17	DBS Vickers	OCBC	11	12.8	Buy	GGM, PB1.3x FY18
09/20/17	Credit Suisse	OCBC	11	10.9	Neutral
09/20/17	Macquarie	OCBC	11	12.2	Outperform
10/06/17	UOB Kay Hian	OCBC	11.25	13.38	Buy	GGM, PB1.39x FY18
10/09/17	DIR	OCBC	11.37	11.5	Hold
10/09/17	DBS Vickers	OCBC	11.37	12.8	Buy	GGM, PB1.3x FY18
10/09/17	Credit Suisse	OCBC	11.37	11.6	Neutral
10/20/17	phillip	OCBC	11.44	11.95	Accumulate
10/23/17	Macquarie	OCBC	11.49	12.2	Outperform
10/25/17	DBS Vickers	OCBC	11.46	12.8	Buy
10/27/17	UOB Kay Hian	OCBC	11.57	13.56	Buy	GGM, PB1.44x FY18
10/27/17	phillip	OCBC	11.57	13.48	Buy	GGM, PB1.44x FY18
10/27/17	CIMB	OCBC	11.57	12.6	Add	GGM, PB1.29x FY18
10/27/17	DBS Vickers	OCBC	11.57	13.5	Buy	GGM, PB1.3x Fy18
10/27/17	Lim & Tan	OCBC	11.57	0	Buy
10/27/17	Credit Suisse	OCBC	11.57	11.7	Neutral
10/27/17	Kim Eng	OCBC	11.57	12	Hold	PB1.2x
10/27/17	UBS	OCBC	11.57	12.2	Neutral
11/01/17	UOB Kay Hian	OCBC	11.9	13.56	Buy	GGM, PB1.44x FY18
11/01/17	Deutsche	OCBC	11.9	12.3	Hold
11/20/17	Credit Suisse	OCBC	11.65	12.6	Neutral
11/20/17	CIMB	OCBC	11.65	12.6	Add
11/23/17	DBS Vickers	OCBC	12.01	13.5	Buy	GGM, PB1.3x FY18
12/01/17	UOB Kay Hian	OCBC	12.45	13.56	Buy	GGM, PB1.44x FY18
12/08/17	phillip	OCBC	12.12	13.48	Buy
12/08/17	Jefferies	OCBC	12.12	14	Buy
12/20/17	CIMB	OCBC	12.25	12.6	Add
01/02/18	UOB Kay Hian	OCBC	12.39	13.56	Buy	GGM, PB1.44x FY18
01/05/18	DBS Vickers	OCBC	12.95	14	Buy	GGM, PB1.4x FY18
01/05/18	UOB Kay Hian	OCBC	12.95	14.88	Buy	GGM, PB1.58x FY18
01/09/18	Deutsche	OCBC	12.99	13.6	Hold
01/10/18	phillip	OCBC	12.91	13.48	Buy
02/03/18	UOB Kay Hian	OCBC	12.26	14.88	Buy
02/05/18	Macquarie	OCBC	12.81	14	Outperform
02/12/18	phillip	OCBC	12.19	13.48	Buy
02/15/18	UOB Kay Hian	OCBC	12.26	14.9	Buy	GGM, PB1.56x FY18
02/15/18	Kim Eng	OCBC	12.26	13.5	Hold	PB1.4x FY18
02/15/18	Credit Suisse	OCBC	12.26	14.7	Outperform
02/15/18	CIMB	OCBC	12.26	14	Add	GGM, PB1.4x FY18, PER11.7x FY19
02/15/18	Jefferies	OCBC	12.26	14	Buy
02/15/18	DBS Vickers	OCBC	12.26	14	Buy	GGM, PB1.4x FY18
02/22/18	UBS	OCBC	13	14.5	Buy
02/22/18	phillip	OCBC	13	13.94	Buy	GGM, PB1.46x
02/22/18	Jefferies	OCBC	13	15.2	Buy
03/02/18	UOB Kay Hian	OCBC	13.21	14.9	Buy
03/08/18	UOB Kay Hian	OCBC	13.21	14.95	Buy	GGM, PB1.54x FY18
03/20/18	Kim Eng	OCBC	13.18	14.83	Buy
03/22/18	Lim & Tan	OCBC	13.42	0	Buy
04/03/18	UOB Kay Hian	OCBC	12.77	14.95	Buy
04/16/18	Credit Suisse	OCBC	13.08	15.75	Buy
04/20/18	UOB Kay Hian	OCBC	13.74	16.02	Buy	GGM, PB1.64x FY18
04/20/18	CIMB	OCBC	13.74	15	Add	GGM, PB1.5x FY18
04/27/18	DBS Vickers	OCBC	13.76	15.3	Buy	GGM, PB1.5x FY18
05/03/18	UOB Kay Hian	OCBC	13.86	16.02	Buy
05/08/18	Macquarie	OCBC	13.17	14.5	Outperform
05/08/18	CIMB	OCBC	13.17	14	Hold	GGM, PB1.5x FY18
05/08/18	UOB Kay Hian	OCBC	13.17	16.5	Buy	GGM, PB1.66x FY18
05/08/18	Credit Suisse	OCBC	13.17	15.1	Outperform
05/08/18	DBS Vickers	OCBC	13.17	15.3	Buy	GGM, PB1.5x FY18
05/08/18	Deutsche	OCBC	13.17	14	Hold
05/09/18	phillip	OCBC	13.08	14.9	Accumulate	GGM, PB1.6x FY18
05/09/18	Kim Eng	OCBC	13.08	14.6	Buy	GGM, PB1.5x FY18
06/01/18	UOB Kay Hian	OCBC	12.54	16.5	Buy	GGM, PB1.68 FY18
06/04/18	phillip	OCBC	12.53	14.9	Accumulate
06/26/18	UOB Kay Hian	OCBC	11.6	14.28	Buy	GGM, PER1.46x FY18
07/02/18	phillip	OCBC	11.64	14.9	Accumulate
07/03/18	UOB Kay Hian	OCBC	11.51	14.28	Buy
07/06/18	DBS Vickers	OCBC	11.5	12.2	Hold	GGM, PB1.3x FY18
07/19/18	UOB Kay Hian	OCBC	11.15	13.52	Buy	GGM, PB1.41x FY18
08/01/18	phillip	OCBC	11.57	14.9	Accumulate	GGM, PB1.5x
08/06/18	Macquarie	OCBC	11.35	14.5	Outperform
08/06/18	Jefferies	OCBC	11.35	14	Buy
08/07/18	UOB Kay Hian	OCBC	11.58	13.68	Buy	GGM, PB1.42x FY18
08/07/18	Credit Suisse	OCBC	11.58	14.65	Outperform
08/07/18	DBS Vickers	OCBC	11.58	12.4	Hold	GGM, PB1.2x FY19
08/07/18	CIMB	OCBC	11.58	14	Add
09/03/18	UOB Kay Hian	OCBC	11.3	13.68	Buy	GGM, PB1.42x FY18
09/25/18	CIMB	OCBC	11.36	14	Add	GGM
09/26/18	DBS Vickers	OCBC	11.45	12.4	Hold
10/02/18	phillip	OCBC	11.45	14.9	Buy
10/03/18	UOB Kay Hian	OCBC	11.31	13.68	Buy
10/11/18	Jefferies	OCBC	10.95	14	Buy
10/15/18	UOB Kay Hian	OCBC	10.75	14.05	Buy	GGM, PB1.37x FY19
10/19/18	DBS Vickers	OCBC	10.7	12.4	Hold
11/01/18	phillip	OCBC	10.74	14.9	Buy
11/01/18	Lim & Tan	OCBC	10.74	0	Buy
11/02/18	CIMB	OCBC	11.15	14	Add	GGM
11/02/18	DBS Vickers	OCBC	11.15	13.2	Buy	GGM, PB1.3x FY19
11/02/18	UOB Kay Hian	OCBC	11.15	14.05	Buy	GGM, PB1.37x FY19
11/12/18	Macquarie	OCBC	11.46	13	Outperform

Stock calls for 12 November 2018

Date	Analyst	Company	Last	Target	Call	Valuation
11/12/18	DMG & Partners	Best World	1.85	2.13	Buy	PER13x FY19
11/12/18	CIMB	Best World	1.85	1.9	Hold	PER12.5x CY20
11/12/18	DMG & Partners	Bumitama	0.62	0.8	Buy
11/12/18	OCBC	City Developments	8.45	10.73	Buy
11/12/18	phillip	Comfortdelgro	2.18	2.69	Buy	DCF, PER19.2x FY18
11/12/18	DBS Vickers	Comfortdelgro	2.18	2.56	Buy	PER16x FY19
11/12/18	DMG & Partners	Comfortdelgro	2.18	2.35	Neutral	PER15x FY19
11/12/18	OCBC	Comfortdelgro	2.18	2.29	Hold
11/12/18	CIMB	Comfortdelgro	2.18	2.74	Add	DCF, PER17.7x FY19
11/12/18	UOB Kay Hian	First Resources	1.6	1.6	Hold	PER13x FY18, Buy @ $1.40
11/12/18	DMG & Partners	First Resources	1.6	1.6	Neutral	PER11x FY19
11/12/18	Kim Eng	First Resources	1.6	2	Buy	PER17x FY18
11/12/18	CIMB	Frasers Property	1.62	2.08	Add	RNAV (35% discount)
11/12/18	Kim Eng	Hi-P	0.845	0.84	Hold	PB1x FY19
11/12/18	DMG & Partners	HRnetGroup	0.815	1.18	Buy	DCF
11/12/18	DBS Vickers	HRnetGroup	0.815	1.1	Buy	PER15x FY19, ex-cash
11/12/18	CIMB	HRnetGroup	0.815	1.1	Add	PER18x CY20
11/12/18	DMG & Partners	Mindchamps	0.625	0.87	Buy	DCF & EV/Ebitda17x FY19
11/12/18	Macquarie	OCBC	11.46	13	Outperform
11/12/18	DBS Vickers	OUE Commercial	0.465	0.47	Hold
11/12/18	CIMB	OUE Commercial	0.465	0.57	Hold	DDM
11/12/18	DBS Vickers	SATS	4.88	5.6	Buy	DCF, PER22x FY20
11/12/18	CIMB	SIA	9.52	10.1	Hold	PB0.9x CY19
11/12/18	phillip	SIA Engineering	2.83	2.81	Neutral	DCF, PER20.6x FY19
11/12/18	UOB Kay Hian	SIA Engineering	2.83	2.7	Hold	DCF, Buy @ $2.40 or PER15x FY19
11/12/18	DBS Vickers	SIA Engineering	2.83	2.94	Hold	Sum of parts
11/12/18	CIMB	SIA Engineering	2.83	3.11	Add	DCF, PER19.6x CY19
11/12/18	UOB Kay Hian	Starhub	1.94	2.3	Buy	DCF
11/12/18	DMG & Partners	Starhub	1.94	1.9	Neutral	DCF
11/12/18	OCBC	Starhub	1.94	1.92	Hold
11/12/18	CIMB	Sunningdale	1.41	1.84	Add	PB0.92x
11/12/18	UOB Kay Hian	Sunningdale	1.41	1.5	Hold	PER10.6x FY19, Buy @ $1.25
11/12/18	Lim & Tan	Sunningdale	1.41	0	Buy
11/12/18	Lim & Tan	Sunpower	0.41	0	Buy
11/12/18	DMG & Partners	Wilmar	3.15	3.69	Buy
11/12/18	DBS Vickers	Yangzijiang	1.3	1.82	Buy	Sum of parts

China's overseas ports that will render Singapore port useless.

China has been preparing to bypass the Strait of Malacca and Singapore for many years because Singapore has a US naval port.  The purpose of establishing a US naval port in Singapore is to control the Strait of Malacca in times of conflict with China as this will stop any critical supplies shipping to China.

However, China has broken through this US-SG containment with some overseas ports near SG.

China's strategic ports that are used to bypass SG:

Myanmar port
http://sg-stock.blogspot.com/2018/11/china-and-myanmar-have-signed-port-deal.html

This port is primarily used to transport oil from the middle east to China as it has an oil pipeline that is connected to China.  However, it can also be used to transport essential goods if the Strait of Malacca is blocked by the US navy.

Pakistan port
http://sg-stock.blogspot.com/2016/11/china-gave-singapore-stern-warning-again.html

This port is primarily used to transport oil from the middle east to China because it has an oil pipeline that is connected to China.


Melaka Gateway
http://sg-stock.blogspot.com/2018/07/malaysian-suspension-of-its-ecrl-will.html

This port is primarily used to replace SG port.  However, Malaysia has cancelled the ECRL which will render the Melaka Gateway useless.  Therefore, China will focus on Myanmar port now and this also explains the rationale behind the recent port agreement with Myanmar.

http://sg-stock.blogspot.com/2018/11/china-and-myanmar-have-signed-port-deal.html

Cambodia port
https://sg-stock.blogspot.com/2016/11/china-cambodia-port-is-going-to-start.html

This port can be easily turned into a China military port to provide logistic and supplies support to China navy in times of crisis.

Singapore must understand the predicament it is facing because we're being surrounded by China's strategic ports.  This predicament arose because we allowed the US navy and spy plane to be stationed in SG.  If we continue to be anti-China, China can skin us further by reducing our economic growth.

China and Myanmar have signed a port deal after years of negotiation.

http://www.mizzima.com/article/china-myanmar-sign-port-deal-after-years-negotiations

This port is a very strategic port to China because China can bypass the strait of Malacca and Singapore.

China has managed to resolve the previous port conflict between Myanmar and China.

http://sg-stock.blogspot.com/2017/05/china-will-take-control-of-myanmar-port.html

Huawei is working on its Kirin 990 chip now.

https://sg.news.yahoo.com/huawei-testing-kirin-990-chip-may-debut-q1-080205772.html

After launching Huawei's kirin 980 chips, it has moved on to develop its kirin 990.

China firms are working hard to develop its own semiconductor industry to reduce its dependence on foreign chips makers.

As stated previously, the global semiconductor slowdown is permanent since the largest market is China.

http://sg-stock.blogspot.com/2018/10/the-global-semiconductor-slowdown-is.html

Baltic dry index - 1147

Today, Friday, November 9 2018, the Baltic Dry Index decreased by 84 points, reaching 1147 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 - 1081

The US drilling rig count is up 14 units to 1,081 rigs working for the week ended Nov. 9, according to Baker Hughes data. The count is up 174 units from the 907 rigs working this time a year ago.

At 1,057 rigs working, 11 more units were drilling on land week-over-week. Offshore units were up 3 to 21 rigs working, while those drilling in inland waters remained unchanged at 3 rigs working for the week.

US oil-directed rigs were up 12 units from last week to 886 units working, and up from the 738 rigs drilling for oil this week a year ago. Gas-directed rigs were up 2 at 195 units, and up from the 169 units drilling for gas a year ago.

Among the major oil and gas-producing states, Oklahoma and New Mexico saw the largest increases in rigs for the week with 4-unit gains each to reach 148 and 106 rigs running, respectively.

Louisiana increased its rig count by 3 to 65. Pennsylvania and Colorado each gained 2 units to reach 45 and 34 working rigs, respectively. North Dakota, 55, and Alaska, 6, were both up a single rig for the week.

Three states were unchanged this week: Wyoming, 30; West Virginia, 13; and California, 15.

Three states saw a single-rig drop: Texas, 532; Ohio, 17; and Utah, 5.

Canada lost 2 rigs for the week. With 196 rigs running, the count is less than the 203 units drilling this week a year ago. Canada dropped 4 oil-directed rigs to reach 117 units for the week but gained a pair of gas-directed rig to reach 79 units.

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Related stocks: Keppel Corp, Sembcorp Marine & Cosco

Noble - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/14/17	Credit Suisse	Noble	0.197	0.21	Neutral
02/28/17	DBS Vickers	Noble	0.23	0.23	Hold	PB1x
05/12/17	Credit Suisse	Noble	0.87	0.8	Neutral
05/12/17	DBS Vickers	Noble	0.87	0.94	Hold	Stock consol 10-into-1
05/12/17	Macquarie	Noble	0.87	0.7	Underperform	Cut from $1.40
08/03/17	Iceberg Research	Noble	0.395	0	Sell	Bankruptcy alert
08/17/17	Lim & Tan	Noble	0.435	0	Sell/Avoid	Bankruptcy alert
11/21/17	Lim & Tan	Noble	0.193	0	Avoid
03/01/18	Lim & Tan	Noble	0.172	0	Avoid	Suspension alert
04/06/18	Lim & Tan	Noble	0.067	0	Avoid

Netlink - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/20/17	DIR	Netlink	0.81	0.97	Buy	DCF
08/01/17	Deutsche	Netlink	0.815	0.95	Buy	DCF
08/29/17	DBS Vickers	Netlink	0.81	0.95	Buy	DCF
08/29/17	UOB Kay Hian	Netlink	0.81	0.93	Buy	DCF
09/25/17	UOB Kay Hian	Netlink	0.825	0.93	Buy
09/28/17	DIR	Netlink	0.825	0.97	Buy	DCF
11/10/17	DBS Vickers	Netlink	0.825	0.95	Buy	DCF
11/13/17	UOB Kay Hian	Netlink	0.825	0.93	Buy	DCF
01/12/18	UOB Kay Hian	Netlink	835	0.93	Buy
01/26/18	DBS Vickers	Netlink	0.83	0.95	Buy	DCF
02/07/18	UOB Kay Hian	Netlink	0.82	0.93	Buy	DCF
02/07/18	DBS Vickers	Netlink	0.82	0.97	Buy	DCF
03/12/18	UOB Kay Hian	Netlink	0.82	0.93	Buy
03/14/18	OCBC	Netlink	0.82	0.91	Buy	DDM
05/15/18	OCBC	Netlink	0.815	0.91	Buy
05/16/18	OCBC	Netlink	0.82	0.9	Buy
05/16/18	DBS Vickers	Netlink	0.82	0.97	Buy	DCF
07/02/18	DBS Vickers	Netlink	0.74	0.87	Buy	DCF
08/07/18	OCBC	Netlink	0.78	0.9	Buy
08/07/18	DBS Vickers	Netlink	0.78	0.87	Buy
09/10/18	Kim Eng	Netlink	0.785	0.93	Buy	DDM
09/17/18	UOB Kay Hian	Netlink	0.785	0.95	Buy	DCF
10/02/18	DBS Vickers	Netlink	0.785	0.87	Buy
10/11/18	OCBC	Netlink	0.785	0.9	Buy
10/26/18	Kim Eng	Netlink	0.78	0.93	Buy
11/05/18	DBS Vickers	Netlink	0.775	0.87	Buy
11/07/18	Kim Eng	Netlink	0.78	0.93	Buy	DDM
11/07/18	OCBC	Netlink	0.78	0.9	Buy

Nera Telecom - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/22/17	Lim & Tan	Nera Telecom	0.435	0	Sell
05/05/17	Lim & Tan	Nera Telecom	0.39	0	Hold
08/07/17	Lim & Tan	Nera Telecom	0.39	0	Hold