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Monday, July 8, 2019

Y Venture - Stock calls

Date Analyst Company Last Target Call Valuation
01/28/19 DBS Vickers Y Venture 0.13 0.11 Cease Coverage EV/Ebitda14x FY19
01/28/19 CIMB Y Venture 0.13 0.1 Reduce PB1.7x FY20
03/08/19 Phillip Y Venture 0.078 0.16 Buy PER30x
03/25/19 CIMB Y Venture 0.06 0.15 Add
04/17/19 Phillip Y Venture 0.156 0.16 Cease Coverage

Wing Tai - Stock calls

Date Analyst Company Last Target Call Valuation
02/14/19 OCBC Wing Tai 2.03 2.41 Buy
04/17/19 OCBC Wing Tai 2.06 2.41 Buy
05/14/19 OCBC Wing Tai 2.01 2.41 Buy
06/27/19 OCBC Wing Tai 2.05 2.41 Buy

Stock calls for 8 July 2019

Date Analyst Company Last Target Call Valuation
07/08/19 DMG & Partners DBS 25.63 30.8 Buy PB1.5x FY20
07/08/19 UOB Kay Hian HMI 0.660 0.73 Accept offer offer at $0.73
07/08/19 Kim Eng HMI 0.660 0.66 Hold DCF, accept offer at $0.73
07/08/19 CIMB HMI 0.660 0.73 Accept offer offer at $0.73
07/08/19 DMG & Partners OCBC 11.39 12.2 Neutral
07/08/19 CIMB SIA Engineering 2.89 3.11 Add DCF
07/08/19 DBS Vickers Singtel 3.56 3.6 Hold Sum of parts
07/08/19 DMG & Partners UOB 26.26 30.8 Buy PB1.29x FY20

Saturday, July 6, 2019

Baltic dry index - 1549

Today, Wednesday, July 03 2019, the Baltic Dry Index climbed by 103 points, reaching 1549 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 stock: Sembcorp Marine, Cosco & Pan ocean.

Baltic dry index - 963


Related stock: Keppel Corp, Sembcorp Marine & Cosco.

Friday, July 5, 2019

US-Vietnam trade war has started!

https://finance.yahoo.com/news/u-slaps-import-duties-more-020115584.html

The US has started to impose more than 400% tariffs against Vietnam steels.  The US also wants Vietnam to reduce the US-Vietnam trade deficits.

We had already anticipated this outcome.

http://sg-stock.blogspot.com/2019/06/many-analysts-were-dead-wrong-about.html

Wilmar - Stock calls

Date Analyst Company Last Target Call Valuation
01/02/19 DMG & Partners Wilmar 3.16 3.58 Buy
01/03/19 UOB Kay Hian Wilmar 3.13 3.9 Buy
02/20/19 OCBC Wilmar 3.37 3.42 Hold
02/22/19 DMG & Partners Wilmar 3.39 3.58 Buy
02/22/19 CIMB Wilmar 3.39 3.96 Add Sum of parts
02/22/19 UOB Kay Hian Wilmar 3.39 3.9 Buy
02/25/19 DMG & Partners Wilmar 3.26 3.63 Buy Sum of parts
02/25/19 DBS Vickers Wilmar 3.26 3.6 Buy DCF, PER15.4x FY19
03/12/19 CIMB Wilmar 3.2 3.96 Add Sum of parts
03/12/19 DBS Vickers Wilmar 3.2 3.6 Buy
03/13/19 DMG & Partners Wilmar 3.24 3.63 Buy
03/20/19 UOB Kay Hian Wilmar 3.3 3.9 Buy
04/08/19 UOB Kay Hian Wilmar 3.48 3.9 Buy
04/09/19 OCBC Wilmar 3.49 3.44 Hold PB0.9x
04/09/19 CIMB Wilmar 3.49 3.96 Add
05/02/19 UOB Kay Hian Wilmar 3.64 3.9 Buy
05/13/19 DMG & Partners Wilmar 3.51 3.8 Buy Sum of parts
05/13/19 DBS Vickers Wilmar 3.51 3.86 Buy DCF, PER15.6x FY19
05/16/19 DMG & Partners Wilmar 3.5 3.94 Buy Sum of parts
05/16/19 OCBC Wilmar 3.5 3.66 Hold PB0.95x
05/16/19 CIMB Wilmar 3.5 3.96 Add Sum of parts
06/06/19 DMG & Partners Wilmar 3.3 3.94 Buy
06/13/19 UOB Kay Hian Wilmar 3.41 3.9 Buy PER12.8x FY20
07/03/19 Kim Eng Wilmar 3.73 4.21 Buy DCF & PER

Venture - Stock calls

Date Analyst Company Last Target Call Valuation
01/02/19 DMG & Partners Venture 13.85 19 Buy PER14x FY19
01/07/19 UOB Kay Hian Venture 13.71 12.9 Hold
01/07/19 Lim & Tan Venture 13.71 0 Buy
01/08/19 Kim Eng Venture 14.44 17.48 Buy PB2x FY19, PER14.4x FY19
02/11/19 UOB Kay Hian Venture 15.72 12.9 Hold PER11x FY19, Buy @ $12.40
02/12/19 CIMB Venture 15.97 17.44 Add PER12.56x FY20
02/25/19 CIMB Venture 16.12 17.88 Add PER12.56x FY20
02/25/19 Kim Eng Venture 16.12 19.23 Buy Roe-g/Coe-g, PB2.2x FY19
02/25/19 DMG & Partners Venture 16.12 19 Buy
02/25/19 DBS Vickers Venture 16.12 21.7 Buy PER15.8x FY19
02/25/19 Lim & Tan Venture 16.12 0 Buy
02/25/19 OCBC Venture 16.12 20.89 Buy PER15x
03/19/19 DMG & Partners Venture 18 19 Buy
03/29/19 DBS Vickers Venture 17.8 21.7 Buy
04/03/19 Lim & Tan Venture 18.6 0 Hold
04/26/19 OCBC Venture 19.29 20.89 Buy PER15x FY19/20
04/26/19 DMG & Partners Venture 19.29 19 Neutral
04/26/19 DBS Vickers Venture 19.29 21.7 Buy PER15.8x FY19
04/29/19 CIMB Venture 17.52 17.88 Hold PER12.5x
04/29/19 Kim Eng Venture 17.52 19.74 Hold Roe-g/Coe-g, PB2.2x FY19
05/02/19 Lim & Tan Venture 16.97 0 Buy on weakness
05/03/19 UOB Kay Hian Venture 17.4 19.01 Hold Buy @ $17
06/11/19 Kim Eng Venture 15.7 19.74 Buy Roe-g/Coe-g, PB2.2x FY19
06/25/19 Lim & Tan Venture 17.3 0 Hold
06/26/19 DMG & Partners Venture 16.46 16.3 Neutral PER13x FY19
06/26/19 UOB Kay Hian Venture 16.46 17.91 Hold PER14x FY19, Buy at $15
06/26/19 CLSA Venture 16.46 17.3 Underperform
07/05/19 Lim & Tan Venture 16.35 0 Hold

Valuetronics - Stock calls

Date Analyst Company Last Target Call Valuation
01/04/19 UOB Kay Hian Valuetronics 0.66 0.87 Buy
01/07/19 DMG & Partners Valuetronics 0.675 0.82 Buy
01/08/19 Kim Eng Valuetronics 0.69 0.9 Buy PB1.9x FY19
02/14/19 Kim Eng Valuetronics 0.74 1.05 Buy ROE-g/COE-g, PB2.1x FY20
02/14/19 DMG & Partners Valuetronics 0.74 0.78 Neutral DCF
02/14/19 CIMB Valuetronics 0.74 0.73 Hold PER8.5x CY19
02/15/19 UOB Kay Hian Valuetronics 0.71 0.87 Buy
03/19/19 DMG & Partners Valuetronics 0.69 0.78 Neutral
03/21/19 Kim Eng Valuetronics 0.685 1.05 Buy PB2.1x FY20
04/09/19 Kim Eng Valuetronics 0.7 1.05 Buy
05/27/19 DMG & Partners Valuetronics 0.61 0.67 Neutral DCF
05/31/19 DMG & Partners Valuetronics 0.625 0.61 Neutral DCF
05/31/19 UOB Kay Hian Valuetronics 0.625 0.8 Buy
06/03/19 CIMB Valuetronics 0.605 0.63 Hold PER8x CY20
06/11/19 Kim Eng Valuetronics 0.64 0.99 Buy PB2x FY20

Stock calls for 5 July 2019

Date Analyst Company Last Target Call Valuation
07/05/19 Phillip ART 1.31 1.36 Accumulate DDM
07/05/19 DBS Vickers Capitaland 3.69 4 Buy
07/05/19 Kim Eng SATS 5.36 6.1 Buy
07/05/19 DBS Vickers SIA Engineering 2.72 3.01 Buy
07/05/19 DMG & Partners ST Engineering 4.24 4.45 Buy PER20.5x FY20 & PB5.5x FY20 & EV/Ebitda11x FY20 & DCF
07/05/19 Lim & Tan Venture 16.35 0 Hold

Nationalistic South Koreans are calling for boycott of Japanese goods.

https://www.scmp.com/week-asia/economics/article/3017263/south-koreans-call-boycott-japanese-cars-beer-and-cosmetics

South Koreans have retaliated against Japan's export curbs.

However, I believe the US will step in to rein in these 2 countries before any serious damage is being done to the political relationship between SK and JP.

http://sg-stock.blogspot.com/2019/07/korea-japan-trade-war-has-just-begun.html

Thursday, July 4, 2019

UOL - Stock calls

Date Analyst Company Last Target Call Valuation
01/03/19 OCBC UOL 6.07 8.41 Buy
01/04/19 Lim & Tan UOL 6 0 Buy
01/17/19 DBS Vickers UOL 6.65 7.15 Hold
02/12/19 Lim & Tan UOL 6.57 0 Buy
02/27/19 CIMB UOL 6.77 8.45 Add RNAV
02/27/19 OCBC UOL 6.77 8.45 Buy RNAV
02/27/19 Lim & Tan UOL 6.77 0 Buy
02/28/19 DBS Vickers UOL 6.75 7.15 Hold RNAV (40% discount)
03/18/19 OCBC UOL 6.45 8.45 Buy RNAV
03/28/19 CIMB UOL 6.78 8.45 Add
04/02/19 OCBC UOL 7.11 8.45 Buy RNAV
04/16/19 DBS Vickers UOL 7.36 8.53 Buy RNAV (35% discount)
05/13/19 Lim & Tan UOL 7.26 0 Buy
05/13/19 CIMB UOL 7.26 8.45 Add RNAV (30% discount)
05/13/19 OCBC UOL 7.26 8.5 Buy
05/14/19 DBS Vickers UOL 7.08 8.53 Buy RNAV (35% discount)
06/07/19 CIMB UOL 6.8 8.45 Add

UOB - Stock calls

Date Analyst Company Last Target Call Valuation
01/04/19 phillip UOB 23.99 32.52 Buy
01/04/19 Jefferies UOB 23.99 31 Buy
01/29/19 DMG & Partners UOB 25.83 29.8 Buy GGM, PB1.37x FY19
01/29/19 CIMB UOB 25.83 32 Add GGM, PB1.4x CY19
01/31/19 Kim Eng UOB 25.3 30.5 Buy DDM
02/01/19 phillip UOB 25.19 32.52 Buy
02/12/19 Kim Eng UOB 25.34 30.5 Buy
02/22/19 DMG & Partners UOB 25.98 29.8 Buy PB1.35x FY19
02/25/19 Jefferies UOB 25.58 30 Buy PER12.3x FY19
02/25/19 OCBC UOB 25.58 28.3 Buy PB1.2x FY19
02/25/19 DBS Vickers UOB 25.58 29.2 Buy GGM, PB1.2x
02/25/19 phillip UOB 25.58 32.51 Buy GGM, PB1.4x FY19
02/25/19 Kim Eng UOB 25.58 29.71 Buy DDM
02/25/19 CIMB UOB 25.58 29 Add GGM, PB1.3x FY19
02/26/19 Macquarie UOB 25.39 30.5 Outperform PB
03/04/19 phillip UOB 25 32.5 Buy
03/07/19 Kim Eng UOB 25.1 29.71 Buy
03/11/19 CIMB UOB 24.91 29 Add
03/13/19 DMG & Partners UOB 25.04 29.8 Buy PB1.35x FY19
03/26/19 OCBC UOB 24.95 28.3 Buy
04/02/19 phillip UOB 25.42 32.5 Buy
04/02/19 DBS Vickers UOB 25.42 29.2 Buy
04/11/19 CIMB UOB 26.56 29 Add
04/12/19 Kim Eng UOB 26.53 29.71 Buy
04/18/19 phillip UOB 26.87 32.02 Buy GGM, PB1.4x FY19
04/22/19 DMG & Partners UOB 26.8 29.8 Buy
04/24/19 DMG & Partners UOB 26.99 30.8 Buy PB1.29x FY20
05/03/19 phillip UOB 27.75 32.5 Buy
05/03/19 DMG & Partners UOB 27.75 30.8 Buy GGM, PB1.29x FY20
05/03/19 DBS Vickers UOB 27.75 29.2 Buy GGM, PB1.2x FY19
05/03/19 CIMB UOB 27.75 29 Add GGM
05/06/19 Jefferies UOB 27.77 31 Buy PER12.4x FY19
05/06/19 OCBC UOB 27.77 28.9 Hold GGM, PB1.2x
05/06/19 phillip UOB 27.77 30.87 Accumulate GGM, PB1.4x FY19
05/06/19 CIMB UOB 27.77 29.58 Add GGM, PB1.3x
05/06/19 Lim & Tan UOB 27.77 0 Buy on weakness
05/07/19 OCBC UOB 25.85 27.3 Hold
05/16/19 CIMB UOB 25.1 29.58 Add GGM
05/22/19 Kim Eng UOB 24.83 28.97 Buy
06/03/19 CIMB UOB 23.5 29.58 Add
06/06/19 phillip UOB 24 30.9 Accumulate
06/06/19 DMG & Partners UOB 24 30.8 Buy
06/17/19 Kim Eng UOB 24.99 28.97 Buy
06/20/19 OCBC UOB 26.14 28.9 Buy
06/25/19 DBS Vickers UOB 25.86 29.2 Buy
07/01/19 Kim Eng UOB 26.13 28.97 Buy
07/02/19 OCBC UOB 26.61 29.4 Buy GGM, PB1.3x, PER11.3x
07/03/19 phillip UOB 26.55 30.9 Accumulate

Uni-Asia - Stock calls

Date Analyst Company Last Target Call Valuation
03/14/19 Amfrasers Uni-Asia 1.2 2.07 Buy Sum of parts, PB0.6x FY19, PER9.5x FY19
04/09/19 Amfrasers Uni-Asia 1.16 1.86 Buy Sum of parts, PB0.6x FY19, PER9.5x FY19
05/17/19 Amfrasers Uni-Asia 1.13 1.86 Buy Sum of parts, PB0.6x FY19, PER9.5x FY19

Stock calls for 4 July 2019

Date Analyst Company Last Target Call Valuation
07/04/19 DMG & Partners A-Reit 3.15 2.9 Neutral
07/04/19 OCBC ART 1.28 1.31 Hold
07/04/19 CIMB ART 1.28 1.15 Hold DDM
07/04/19 UOB Kay Hian ART 1.28 1.46 Buy
07/04/19 DMG & Partners Cache Logistics 0.785 0.83 Buy
07/04/19 DMG & Partners CapitaCommercial 2.23 1.86 Neutral
07/04/19 DMG & Partners Capitamall Trust 2.71 2.2 Neutral
07/04/19 DMG & Partners CDL Hospitality 1.66 1.77 Buy
07/04/19 DMG & Partners EC World Reit 0.78 0.85 Buy
07/04/19 DMG & Partners Frasers Centrepoint Trust 2.64 2.25 Neutral
07/04/19 DMG & Partners Frasers Commercial Trust 1.68 1.65 Neutral
07/04/19 OCBC Frasers Logistics 1.23 1.2 Hold
07/04/19 Lim & Tan Frasers Logistics 1.23 0 Hold
07/04/19 CIMB Frasers Logistics 1.23 1.25 Hold
07/04/19 phillip Geo Energy 0.155 0.15 Neutral
07/04/19 phillip Golden Energy 0.225 0.24 Accumulate
07/04/19 DMG & Partners Keppel Reit 1.28 1.12 Neutral
07/04/19 DMG & Partners Manulife US Reit 0.88 0.96 Buy
07/04/19 DMG & Partners OUE Hospitality 0.72 0.76 Take Profit
07/04/19 Macquarie Sembcorp Industries 2.41 2.84 Outperform
07/04/19 Macquarie Sembcorp Marine 1.41 1.57 Neutral
07/04/19 DBS Vickers Sembcorp Marine 1.41 2.4 Buy
07/04/19 DMG & Partners Starhill 0.78 0.78 Buy
07/04/19 DMG & Partners Suntec Reit 1.97 1.9 Neutral

Putin rejected Abe's request in G20 summit to return the 4 northern islands

https://www.scmp.com/news/asia/east-asia/article/2181546/japan-thought-deal-kuril-islands-was-its-way-russia-just

The Japanese PM Abe made a fool of himself by making an unreasonable request to Putin to return the 4 northern islands under Russian's control.

Why? The 4 northern islands don't belong to Japan in the first place.  We posted this before in 2016.

http://sg-stock.blogspot.com/2016/12/putin-is-making-fool-out-of-abe-but-abe.html

The Japanese government is just trying to whitewash its history.

Diaoyu island also doesn't belong to Japan.

Wednesday, July 3, 2019

UMS - Stock calls

Date Analyst Company Last Target Call Valuation
02/26/19 DBS Vickers UMS 0.71 0.55 Fully Valued PER8x FY19
02/28/19 CIMB UMS 0.74 0.62 Reduce PB1.37x CY19
05/14/19 DBS Vickers UMS 0.615 0.55 Fully Valued PER8x FY19
05/16/19 DBS Vickers UMS 0.64 0.45 Fully Valued PER8x FY19/20
05/21/19 CIMB UMS 0.62 0.55 Reduce

UG Healthcare - Stock calls

Date Analyst Company Last Target Call Valuation
03/11/19 DMG & Partners UG Healthcare 0.205 0.32 Buy PER10x FY20
05/07/19 DMG & Partners UG Healthcare 0.18 0.32 Buy PER10x FY20

Tuan Sing - Stock calls

Date Analyst Company Last Target Call Valuation
01/29/19 Amfrasers Tuan Sing 0.395 0.46 Not Rated RNAV (50% discount)

Stock calls for 3 July 2019

Date Analyst Company Last Target Call Valuation
07/03/19 Kim Eng A-Reit 3.13 3.3 Buy DDM
07/03/19 phillip DBS 26.5 29 Accumulate
07/03/19 DMG & Partners Hyphens Pharma 0.196 0.25 Buy DCF, PER12.2x FY19
07/03/19 DBS Vickers Keppel Corp 6.77 9.2 Buy
07/03/19 OCBC Keppel Corp 6.77 7.83 Buy
07/03/19 UOB Kay Hian Koufu 0.72 0.95 Buy
07/03/19 phillip OCBC 11.54 12.7 Accumulate
07/03/19 OCBC Sembcorp Industries 2.47 3.03 Buy
07/03/19 CIMB Sembcorp Marine 1.54 1.75 Add PB1.6x CY19
07/03/19 OCBC Sembcorp Marine 1.54 1.6 Hold
07/03/19 phillip UOB 26.55 30.9 Accumulate
07/03/19 Kim Eng Wilmar 3.73 4.21 Buy DCF & PER