Stock calls for 13 June 2019

Date	Analyst	Company	Last	Target	Call	Valuation
06/13/19	UOB Kay Hian	CapitaCommercial	2.05	2.16	Buy
06/13/19	UOB Kay Hian	DBS	24.7	30.5	Buy
06/13/19	UOB Kay Hian	Fu Yu	0.2	0.29	Buy
06/13/19	CIMB	HRnetGroup	0.72	1.01	Add
06/13/19	UOB Kay Hian	Koufu	0.675	0.95	Buy
06/13/19	UOB Kay Hian	OCBC	10.8	14.62	Buy
06/13/19	DMG & Partners	Oxley	0.31	0.41	Buy	RNAV (45% discount)
06/13/19	UOB Kay Hian	Singtel	3.32	3.58	Buy	DCF
06/13/19	Kim Eng	Singtel	3.32	3.48	Hold	Sum of parts
06/13/19	OCBC	ST Engineering	4.09	4.38	Buy
06/13/19	UOB Kay Hian	ST Engineering	4.09	4.7	Buy
06/13/19	UOB Kay Hian	Wilmar	3.41	3.9	Buy

Huawei is evoking its patent rights now. Yeah!

https://sg.finance.yahoo.com/news/huawei-asks-verizon-pay-over-160423853.html

We've stated before that many companies would be infringing Huawei's patents if they want to build 5G technology.  Huawei is evoking its patent rights now in the face of the US-China trade war.

http://sg-stock.blogspot.com/2019/03/huawei-won-fight-in-europe-against-us.html

Oxley - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/02/19	DBS Vickers	Oxley	0.325	0.68	Buy

Overseas Education - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/23/19	UOB Kay Hian	Overseas Edu	0.33	0.46	Buy	EV/Ebitda10.4x
05/08/19	UOB Kay Hian	Overseas Edu	0.3	0.46	Buy	EV/Ebitda10.4x
05/08/19	Lim & Tan	Overseas Edu	0.3	0.48	Buy	DDM & DCF

OUE Lippo HC - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/11/19	Soochow SSD	OUE Lippo HC	0.066	0.088	Buy	Sum of parts

Stock calls for 12 June 2019

Date	Analyst	Company	Last	Target	Call	Valuation
06/12/19	DBS Vickers	Capitaland	3.41	4	Buy
06/12/19	OCBC	CapitaRetail China	1.53	1.35	Sell
06/12/19	DBS Vickers	CapitaRetail China	1.53	1.65	Buy
06/12/19	Lim & Tan	CapitaRetail China	1.53	0	Hold
06/12/19	UOB Kay Hian	Comfortdelgro	2.55	2.77	Buy
06/12/19	OCBC	Far East Hospitality	0.645	0.67	Hold
06/12/19	DMG & Partners	Frencken	0.625	0.82	Buy	DCF
06/12/19	CIMB	IHH Healthcare	1.84	2.09	Add	Ringgit $6.37 target price
06/12/19	UOB Kay Hian	Netlink	0.835	0.97	Buy
06/12/19	CIMB	Raffles Medical	1.02	1.1	Hold
06/12/19	Kim Eng	SATS	5.04	6.1	Buy	DCF

President Trump threatens President Xi before G20 Summit.

https://edition.cnn.com/2019/06/11/politics/trump-xi-g20-tariffs-intl-hnk/index.html

It is a stupid move to threaten another big country President.  There won't be a trade deal in the G20 Summit because this will make President Xi look weak.

China has responded with Trump's threat.

https://sg.finance.yahoo.com/news/china-says-respond-u-insists-073106816.html

OUE Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	CIMB	OUE Hospitality	0.67	0.85	Add	DDM
01/16/19	OCBC	OUE Hospitality	0.685	0.79	Buy
01/30/19	DBS Vickers	OUE Hospitality	0.695	0.85	Buy	DCF
01/31/19	OCBC	OUE Hospitality	0.725	0.82	Buy
03/18/19	DMG & Partners	OUE Hospitality	0.725	0.77	Buy
04/09/19	DMG & Partners	OUE Hospitality	0.735	0.76	Take Profit	Accept offer
04/09/19	DBS Vickers	OUE Hospitality	0.735	0.85	Buy
04/10/19	CIMB	OUE Hospitality	0.725	0.85	Add
05/03/19	CIMB	OUE Hospitality	0.72	0.85	Add
06/06/19	DMG & Partners	OUE Hospitality	0.68	0.76	Take Profit

OUE Commercial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/31/19	OCBC	OUE Commercial	0.49	0.5	Hold
01/31/19	DBS Vickers	OUE Commercial	0.49	0.6	Buy	DCF
02/04/19	CIMB	OUE Commercial	0.515	0.57	Hold
02/08/19	DBS Vickers	OUE Commercial	0.51	0.6	Buy
04/03/19	DBS Vickers	OUE Commercial	0.52	0.6	Buy
04/10/19	CIMB	OUE Commercial	0.51	0.57	Hold
05/10/19	CIMB	OUE Commercial	0.5	0.57	Hold

OUE - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/28/19	OCBC	OUE	1.66	2.32	Buy
04/17/19	OCBC	OUE	1.79	2.32	Buy

Stock calls for 11 June 2019

Date	Analyst	Company	Last	Target	Call	Valuation
06/11/19	Kim Eng	AEM	0.945	1.4	Buy	PB3.1x FY19/20
06/11/19	OCBC	CapitaRetail China	1.56	1.5	Hold
06/11/19	UOB Kay Hian	CDL Hospitality	1.62	2.06	Buy	DDM
06/11/19	DMG & Partners	China Aviation Oil	1.31	1.6	Buy
06/11/19	OCBC	City Developments	8.97	10.68	Buy
06/11/19	CIMB	City Developments	8.97	10.66	Add	RNAV (35% discount)
06/11/19	Jefferies	City Developments	8.97	12	Buy
06/11/19	Kim Eng	Hi-P	1.29	1.22	Hold	PB1.5x FY19
06/11/19	Kim Eng	Valuetronics	0.64	0.99	Buy	PB2x FY20
06/11/19	Kim Eng	Venture	15.7	19.74	Buy	Roe-g/Coe-g, PB2.2x FY19
06/11/19	OCBC	Yangzijiang	1.4	1.45	Hold

OCBC - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/19	CIMB	OCBC	11.1	14	Add	PER10.8x FY20
01/04/19	UOB Kay Hian	OCBC	11.03	14.05	Buy
01/08/19	UOB Kay Hian	OCBC	11.37	13.82	Buy
01/31/19	Kim Eng	OCBC	11.39	10.95	Hold	DDM
02/01/19	phillip	OCBC	11.51	13.7	Buy	GGM, PB1.4x FY19
02/08/19	UOB Kay Hian	OCBC	11.49	13.82	Buy
02/13/19	Kim Eng	OCBC	11.41	10.95	Hold
02/25/19	CIMB	OCBC	11.39	12	Hold	PB1.2x CY19
02/25/19	UOB Kay Hian	OCBC	11.39	13.85	Buy
02/25/19	DBS Vickers	OCBC	11.39	12.9	Buy	GGM, PB1.2x FY19
02/25/19	Kim Eng	OCBC	11.39	10.73	Hold	DDM
02/27/19	Macquarie	OCBC	11.2	13	Outperform	PB
03/04/19	phillip	OCBC	11.1	13.7	Buy
03/07/19	Kim Eng	OCBC	11.22	10.73	Hold
03/11/19	CIMB	OCBC	11.05	12	Hold
03/26/19	UOB Kay Hian	OCBC	10.99	13.85	Buy
04/02/19	phillip	OCBC	11.21	13.7	Buy
04/02/19	DBS Vickers	OCBC	11.21	12.9	Buy
04/11/19	CIMB	OCBC	11.72	12	Hold
04/22/19	DMG & Partners	OCBC	11.77	12.2	Neutral	PB1.12x FY20, Up from $10.96
04/23/19	Kim Eng	OCBC	11.78	10.73	Hold
04/24/19	UOB Kay Hian	OCBC	11.83	14.12	Buy	GGM, PB1.39x FY19
05/03/19	phillip	OCBC	12.04	13.7	Buy
05/10/19	DMG & Partners	OCBC	11.31	12.2	Neutral	PB1.12x FY20
05/10/19	CIMB	OCBC	11.31	12	Hold
05/13/19	Macquarie	OCBC	11.39	13	Outperform
05/13/19	phillip	OCBC	11.39	12.68	Accumulate	GGM, PB1.3x FY19
05/13/19	UOB Kay Hian	OCBC	11.39	14.62	Buy	GGM, PB1.42x FY19
05/13/19	CIMB	OCBC	11.39	12.59	Hold	GGM, PB1.26x
05/22/19	Kim Eng	OCBC	11.09	11.07	Hold
06/03/19	CIMB	OCBC	10.57	12.59	Hold
06/06/19	phillip	OCBC	10.63	12.7	Accumulate

Netlink - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	UOB Kay Hian	Netlink	0.765	0.99	Buy	DCF
01/02/19	Kim Eng	Netlink	0.765	0.93	Buy
01/15/19	DBS Vickers	Netlink	0.77	0.87	Buy	DCF
02/07/19	Kim Eng	Netlink	0.785	0.93	Buy	DDM, PER38.8x FY21
02/08/19	DBS Vickers	Netlink	0.79	0.87	Buy	DCF, PER32.6x FY21
02/08/19	UOB Kay Hian	Netlink	0.79	0.99	Buy
02/15/19	UOB Kay Hian	Netlink	0.805	0.92	Buy	DCF, PER40x FY21
02/18/19	OCBC	Netlink	0.805	0.9	Buy
03/15/19	OCBC	Netlink	0.795	0.9	Buy
03/27/19	Phillip	Netlink	0.825	0.89	Accumulate	DCF
04/01/19	UOB Kay Hian	Netlink	0.83	0.92	Buy
04/01/19	Kim Eng	Netlink	0.83	0.93	Buy
05/07/19	UOB Kay Hian	Netlink	0.825	0.92	Buy	DCF
05/09/19	DBS Vickers	Netlink	0.82	0.87	Buy
05/15/19	OCBC	Netlink	0.835	0.95	Buy
05/15/19	DBS Vickers	Netlink	0.835	0.9	Buy	DCF
05/15/19	Phillip	Netlink	0.835	0.93	Accumulate	DCF
05/15/19	Kim Eng	Netlink	0.835	0.94	Buy	DDM
06/03/19	Phillip	Netlink	0.83	0.93	Buy	DCF
06/06/19	DBS Vickers	Netlink	0.825	0.9	Buy

Nera Telecom - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/04/19	Lim & Tan	Nera Telecom	0.285	0	Buy

Stock calls for 10 June 2019

Date	Analyst	Company	Last	Target	Call	Valuation
06/10/19	Novus	800Super	0.89	0.9	Accept offer	offer $0.90
06/10/19	UOB Kay Hian	ART	1.27	1.46	Buy
06/10/19	DMG & Partners	City Developments	8.47	9.2	Neutral
06/10/19	DBS Vickers	City Developments	8.47	9.5	Hold
06/10/19	Lim & Tan	City Developments	8.47	0	Buy
06/10/19	UOB Kay Hian	Frasers Centrepoint Trust	2.52	2.71	Buy
06/10/19	DMG & Partners	Keppel Corp	6.05	7.33	Buy	Sum of parts, Cut from $7.92

This is what will happen when the US conducts its sea navigation in international water.

https://sg.news.yahoo.com/us-russia-blame-other-near-144834895.html

Without the US, this won't happen at all.  The US Navy likes to conduct Fon in "international water" and cause near collisions with others.

Is international water safer with the US Navy around or more dangerous now?

The recalcitrant PAP refused to back down. - Part 2

http://sg-stock.blogspot.com/2019/06/the-recalcitrant-pap-refused-to-back.html

PM Lee's FB post has gone awry and MFA damage control only fans the fire more.  Singapore proclaimed that it had no sympathy for Khmer Rouge but it seemed to send an innuendo that Cambodia had some sympathy when its millions of people were killed.

https://sg.news.yahoo.com/singapore-had-no-sympathy-for-khmer-rouge-values-ties-with-cambodia-and-vietnam-mfa-135329618.html

The victim, Cambodia, has accused PAP of supporting the Khmer Rouge and wished for its return.  This showed that Cambodia took the PAP's message to heart in a very bad way.

Vietnam and Cambodia denounced the PAP wrong interpretation of their histories and PM Lee had stirred up their painful past.

Vietnam and Cambodia are both ASEAN members.  They will oppose SG in the future in the ASEAN summit if they don't forgive SG.

Baltic dry index - 1138

Today, Friday, June 07 2019, the Baltic Dry Index showed no change, remaining at 1138 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 stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count - 975

Related stock: Keppel Corp, Sembcorp Marine & Coso.

The recalcitrant PAP refused to back down.

https://sg.news.yahoo.com/cambodia-pm-hun-sen-pm-lee-comments-an-insult-to-sacrifice-of-vietnam-military-volunteers-090405166.html

https://sg.news.yahoo.com/vietnams-objection-to-pm-lees-remarks-doesnt-change-past-as-many-view-it-tan-chuan-jin-075804335.html

Look here! The only 2 countries that knew the truth were Cambodia and Vietnam, not SG and other countries.  These 2 countries are condemning SG now.

PAP is accusing Vietnam of being the invader and Cambodia the victim.  Let's put this in a satirical perspective (Vietnam-rapist, Cambodia-victim).  SG is accusing Vietnam of raping Cambodia in the past.  However, the rapist and victim denied the rape.  SG, being the bystander, insisted that Vietnam raped Cambodia.  Does this make sense?  Cambodia, being the victim, won't deny the rape if it did happen. 

Just look at the Japanese invasion!

South Korea, China and the rest of the world did not deny that their women were raped and forced to become comfort women. These countries insisted that it did happen!

History is not defined by politicians or else it will become a fake history when it is interpreted by politicians.

What good can SG derive out of this political squabble?  SG will only offend the 2 ASEAN nations for nothing.

Moya Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/07/19	DMG & Partners	Moya Asia	0.06	0.11	Buy
02/13/19	DMG & Partners	Moya Asia	0.082	0.11	Buy	DCF
03/05/19	DMG & Partners	Moya Asia	0.077	0.11	Buy	DCF
05/02/19	DMG & Partners	Moya Asia	0.081	0.095	Buy
06/06/19	DMG & Partners	Moya Asia	0.076	0.1	Buy

MM2 Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/14/19	DBS Vickers	MM2 Asia	0.3	0.33	Hold	Sum of parts
02/21/19	CIMB	MM2 Asia	0.3	0.37	Add	Sum of parts
02/21/19	Kim Eng	MM2 Asia	0.3	0.34	Buy	PEG0.93x
03/26/19	Kim Eng	MM2 Asia	0.315	0.34	Buy	PEG0.93x
05/31/19	DBS Vickers	MM2 Asia	0.24	0.34	Buy	Sum of parts, PER16x FY20
06/04/19	Kim Eng	MM2 Asia	0.245	0.26	Hold

MIT - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/27/19	Lim & Tan	MIT	0.36	0.405	Buy	Mid-point of $0.4-0.41

Stock calls for 7 June 2019

Date	Analyst	Company	Last	Target	Call	Valuation
06/07/19	CIMB	APAC Realty	0.51	0.67	Add
06/07/19	CIMB	Propnex	0.49	0.64	Add
06/07/19	DMG & Partners	Singapore Medical	0.38	0.48	Buy	DCF
06/07/19	CIMB	UOL	6.8	8.45	Add

Google has just realized its future is in danger.

https://sg.finance.yahoo.com/news/google-flags-u-national-security-044420067.html

It has just dawned on google now that it made a mistake on Huawei ban.

Hahaha! We had already stated this in our previous post.

http://sg-stock.blogspot.com/2019/05/google-has-just-killed-its-own-future.html

Mindchamps - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/19	DMG & Partners	Mindchamps	0.655	0.87	Buy
05/17/19	DMG & Partners	Mindchamps	0.66	0.83	Buy	DCF

Micro-Mechanics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/30/19	Phillip	Micro-Mechanics	1.67	1.7	Accumulate	PER15x FY19
05/02/19	Phillip	Micro-Mechanics	1.63	1.63	Neutral	PER15x FY20

Mermaid Maritime - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/19/19	DBS Vickers	Mermaid Maritime	0.084	0.06	Sell	Sum of parts
03/19/19	CIMB	Mermaid Maritime	0.084	0.158	Hold	PB0.48x CY18

Stock calls for 6 June 2019

Date	Analyst	Company	Last	Target	Call	Valuation
06/06/19	DMG & Partners	APAC Realty	0.5	0.67	Buy
06/06/19	DMG & Partners	Bumitama	0.665	0.62	Neutral
06/06/19	OCBC	Capitamall Trust	2.46	2.33	Hold
06/06/19	DMG & Partners	CDL Hospitality	1.61	1.77	Buy
06/06/19	DMG & Partners	CSE Global	0.48	0.61	Buy
06/06/19	phillip	DBS	24.27	29	Accumulate
06/06/19	DMG & Partners	First Resources	1.56	1.53	Neutral
06/06/19	DMG & Partners	Frasers Centrepoint Trust	2.52	2.25	Neutral
06/06/19	DBS Vickers	Frasers Commercial Trust	1.51	1.7	Buy
06/06/19	DMG & Partners	Fu Yu	0.19	0.24	Buy
06/06/19	DMG & Partners	Genting	0.86	1.02	Neutral
06/06/19	DMG & Partners	GSS Energy	0.069	0.08	Neutral
06/06/19	DMG & Partners	HRnetGroup	0.71	0.94	Buy
06/06/19	DMG & Partners	ISOTeam	0.23	0.29	Buy
06/06/19	DMG & Partners	Japan Foods	0.43	0.4	Neutral
06/06/19	DBS Vickers	Keppel KBS	0.74	0.8	Buy
06/06/19	DMG & Partners	Kimly	0.23	0.23	Neutral
06/06/19	DMG & Partners	Manulife US Reit	0.845	0.96	Buy
06/06/19	DBS Vickers	Mapletree Logistics	1.5	1.6	Buy
06/06/19	DMG & Partners	Moya Asia	0.076	0.1	Buy
06/06/19	DBS Vickers	Netlink	0.825	0.9	Buy
06/06/19	phillip	OCBC	10.63	12.7	Accumulate
06/06/19	DMG & Partners	OUE Hospitality	0.68	0.76	Take Profit
06/06/19	DBS Vickers	SATS	5.04	5.44	Buy
06/06/19	DMG & Partners	Sheng Siong	1.1	1.23	Buy
06/06/19	DBS Vickers	Sheng Siong	1.1	1.25	Buy
06/06/19	DMG & Partners	Silverlake	0.53	0.65	Buy
06/06/19	DMG & Partners	Singapore Medical	0.385	0.48	Neutral
06/06/19	DMG & Partners	Singtel	3.21	3.35	Neutral
06/06/19	DBS Vickers	Singtel	3.21	3.55	Buy
06/06/19	UOB Kay Hian	SPH	2.31	2.86	Buy	Sum of parts
06/06/19	DMG & Partners	ST Engineering	4	4.45	Buy
06/06/19	DBS Vickers	ST Engineering	4	4.5	Buy
06/06/19	DMG & Partners	Starhill	0.735	0.78	Buy
06/06/19	DMG & Partners	Starhub	1.49	1.72	Neutral
06/06/19	DMG & Partners	Thai Beverage	0.84	0.92	Buy
06/06/19	DBS Vickers	Thai Beverage	0.84	0.91	Buy
06/06/19	phillip	UOB	24	30.9	Accumulate
06/06/19	DMG & Partners	UOB	24	30.8	Buy
06/06/19	DMG & Partners	Wilmar	3.3	3.94	Buy

Trump is threatening China again with more tariffs.

https://www.cnbc.com/2019/06/06/trump-says-tariffs-on-china-could-be-raised-by-another-300-billion.html

China is prepared for a full-scale trade war with the US now.  The state media is using the term "trade war" now instead of "trade conflict" in China.

Do not pin any hope that the US and China can reach a trade deal in the G20 summit in June 2019.

Is G20 still relevant today?

https://sg.finance.yahoo.com/news/trade-war-weak-growth-test-063632729.html

The cold hard fact is G20 is no longer relevant today.  Why?  This is because it is G2 that decides the world economic growth and not G20.  The G18 never tries to stop the G2 trade war but joins in the trade war by fighting against the G2.

Cambodia and Vietnam condemn PM Lee's remarks.

https://www.theonlinecitizen.com/2019/06/05/diplomatic-rift-mounting-between-cambodia-and-sg-over-pm-lees-remark-on-fb/

https://www.theonlinecitizen.com/2019/06/05/vietnam-joins-in-to-condemn-pm-lees-online-remark/

It is a fact that our PM Lee doesn't understand history as well as his father.  His ignorance caused Cambodia and Vietnam to condemn SG and make SG lose face. Sigh!

Just look at PM Lee's stance on Japan's heinous war crimes.

https://sg-stock.blogspot.com/2018/01/whats-wrong-with-singapores-mindset.html

Even our PAP MP doesn't understand ASEAN history well.

http://sg-stock.blogspot.com/2018/01/singapore-has-no-future-when-weve.html

How does a Cambridge professor view China?

An impartial and objective opinion from a Cambridge Professor about China.

China is right to support Venezuela.

https://sg.finance.yahoo.com/news/xi-says-china-play-constructive-015417369.html

The UN only recognizes the elected President of Venezuela and not any self-proclaimed President which is endorsed by the western countries.

Maduro is the legitimate and the only elected President and China is right to support him.

With China and Russia's support, the US will have limited influences in Venezuela and Venezuela will be more stable without the US intervention.

Will the US Fed reduce its interest rates because of the trade war? - Part 2

https://finance.yahoo.com/news/stock-wall-street-surges-powells-161900316.html

The US stock market's surge last night was caused by Fed Powell speech which hinted that he would cut interest rates.  However, the US stock market is just having some dead cat bounce and the US economy is still deteriorating.  At the end of the day, the US stock market still must reflect the true economic condition.

http://sg-stock.blogspot.com/2019/06/ism-pmi-analysis-for-us-economy.html

This interest rate reduction had been predicted by us in our previous post below.

http://sg-stock.blogspot.com/2019/05/will-us-fed-reduce-its-interest-rates.html

We indicated that the US Fed would be willing to cut interest rates by analyzing the 4 US Fed interest rates.