Singapore Stock Exchange - Equity Investments

Thursday, July 11, 2019

Stock calls for 11 July 2019

Date	Analyst	Company	Last	Target	Call	Valuation
07/11/19	Amfrasers	Comfortdelgro	2.82	2.77	Neutral	PER19x FY19
07/11/19	UOB Kay Hian	ISOTeam	0.245	0.3	Buy
07/11/19	CIMB	Mapletree Industrial	2.29	2.32	Add	DDM
07/11/19	Kim Eng	Mapletree Industrial	2.29	2.4	Buy	DDM
07/11/19	DBS Vickers	Mapletree Industrial	2.29	2.5	Buy	DCF

Wednesday, July 10, 2019

Accordia Golf Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/15/19	Amfrasers	Accordia Golf Trust	0.55	0.61	Hold
02/19/19	Amfrasers	Accordia Golf Trust	0.565	0.61	Buy
04/04/19	Amfrasers	Accordia Golf Trust	0.59	0.72	Buy
05/31/19	Amfrasers	Accordia Golf Trust	0.585	0.7	Buy

A-Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	DMG & Partners	A-Reit	2.57	2.9	Buy
01/04/19	Phillip	A-Reit	2.57	2.78	Accumulate
01/17/19	Kim Eng	A-Reit	2.74	2.95	Buy	DDM
01/22/19	UOB Kay Hian	A-Reit	2.71	3.01	Buy
01/31/19	Phillip	A-Reit	2.72	2.88	Accumulate	DDM, PB1.34x FY19
01/31/19	CIMB	A-Reit	2.72	2.83	Add	DDM
01/31/19	OCBC	A-Reit	2.72	2.64	Hold
01/31/19	DBS Vickers	A-Reit	2.72	2.95	Buy
02/15/19	Phillip	A-Reit	2.75	2.88	Accumulate
02/28/19	Kim Eng	A-Reit	2.81	2.95	Buy
03/07/19	DMG & Partners	A-Reit	2.83	2.9	Neutral	DDM
03/07/19	CIMB	A-Reit	2.83	2.83	Add
04/04/19	Kim Eng	A-Reit	2.93	3.1	Buy
04/30/19	Kim Eng	A-Reit	3.01	3.2	Buy	DDM
04/30/19	OCBC	A-Reit	3.01	2.74	Hold
04/30/19	DMG & Partners	A-Reit	3.01	2.9	Neutral	DDM
05/02/19	Phillip	A-Reit	3	2.88	Neutral	DDM
05/02/19	CIMB	A-Reit	3	2.87	Hold	DDM
05/02/19	DBS Vickers	A-Reit	3	3.2	Buy	DCF
06/19/19	Phillip	A-Reit	2.98	2.88	Neutral
06/25/19	Kim Eng	A-Reit	3.01	3.2	Buy
06/27/19	DBS Vickers	A-Reit	3.05	3.21	Buy
07/03/19	Kim Eng	A-Reit	3.13	3.3	Buy	DDM
07/04/19	DMG & Partners	A-Reit	3.15	2.9	Neutral

800Super - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/13/19	Phillip	800Super	0.685	0	Cease Coverage	DCF
06/10/19	Novus	800Super	0.89	0.9	Accept offer	offer $0.90

Stock calls for 10 July 2019

Date	Analyst	Company	Last	Target	Call	Valuation
07/10/19	DMG & Partners	China Aviation Oil	1.3	1.6	Buy
07/10/19	Kim Eng	Comfortdelgro	2.84	2.76	Hold	DCF
07/10/19	UOB Kay Hian	Comfortdelgro	2.84	3.08	Buy
07/10/19	CIMB	Keppel DC Reit	1.67	1.54	Add
07/10/19	CIMB	Mapletree Commercial	2.05	2.03	Add
07/10/19	UOB Kay Hian	Suntec Reit	1.95	2	Hold	DDM, Buy @ $1.82

Tuesday, July 9, 2019

Yongnam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/19	CIMB	Yongnam	0.183	0.4	Add	PB0.8x FY19
01/07/19	CIMB	Yongnam	0.183	0.41	Add	PB0.8x FY19
03/01/19	CIMB	Yongnam	0.173	0.33	Add	PB0.7x FY19
04/05/19	CIMB	Yongnam	0.186	0.33	Add	PB0.7x FY19
05/17/19	CIMB	Yongnam	0.169	0.33	Add	PB0.7x FY19

Yoma - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/12/19	DBS Vickers	Yoma	0.345	0.4	Buy
04/11/19	DMG & Partners	Yoma	0.32	0.57	Add	Sum of parts (20% discount)
06/03/19	DBS Vickers	Yoma	0.33	0.4	Buy	RNAV (60% discount)

Yanlord - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/01/19	OCBC	Yanlord	1.39	1.75	Buy	PER5x
04/12/19	OCBC	Yanlord	1.47	1.75	Buy	PER5x FY19
05/16/19	OCBC	Yanlord	1.44	1.68	Buy	PER5x FY19/20
05/17/19	DBS Vickers	Yanlord	1.44	1.47	Hold	PER6x FY19/20

Stock calls for 9 July 2019

Date	Analyst	Company	Last	Target	Call	Valuation
07/09/19	DMG & Partners	Fu Yu	0.215	0.24	Buy	DCF
07/09/19	phillip	HMI	0.720	0.73	Accept offer	offer at $0.73
07/09/19	UOB Kay Hian	Wilmar	3.79	3.9	Buy

Fraud detected in Camsing.

https://www.businesstimes.com.sg/banking-finance/chinese-wealth-manager-alleges-34-billion-yuan-fraud-at-camsing

Look like this company will go bankrupt after the fraud scandal. The company is listed on SGX & HKEX. The stock has plunged 90% in HK already.

SMRT fare hike is coming soon!

https://www.channelnewsasia.com/news/singapore/transport-fares-review-formula-needed-mrt-khaw-boon-wan-11700938

Look like price hike is an omnipotent solution to many problems in Singapore. The only price hike that the PAP doesn't like is our wages because they want us to be faster and cheaper.

Sigh!

The US government may shut down in September 2019 again!

https://sg.news.yahoo.com/report-government-faces-potential-default-195257567.html

The US government will be in default in September again.

This is not the first time and won't be the last time for the US. The US government is simply insolvent.

http://sg-stock.blogspot.com/2018/12/will-us-government-shut-down-in.html

The truth behind the HK protests.

https://www.mintpressnews.com/hong-kong-protests/259202/

The Chinese government has found evidence linking the CIA behind the HK protests and the CIA is using NED in HK to engineer the protests.

It is a common US modus operandi to use NGOs to act for the US political interest. The US wants to protect its citizens from being extradited to China for their crimes committed in China.

Monday, July 8, 2019

Yangzijiang - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/04/19	DBS Vickers	Yangzijiang	1.42	1.82	Buy
03/01/19	CIMB	Yangzijiang	1.43	1.61	Add	Sum of parts
03/04/19	OCBC	Yangzijiang	1.44	1.44	Hold
03/04/19	UOB Kay Hian	Yangzijiang	1.44	1.39	Hold	PB0.9x FY19, Buy @ $1.25
03/04/19	DBS Vickers	Yangzijiang	1.44	1.82	buy	Sum of parts, PB1.1x
05/02/19	CIMB	Yangzijiang	1.57	1.61	Hold	Sum of parts
05/02/19	OCBC	Yangzijiang	1.57	1.45	Hold	Sum of parts
05/02/19	DBS Vickers	Yangzijiang	1.57	1.82	Buy	Sum of parts
06/11/19	OCBC	Yangzijiang	1.4	1.45	Hold

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.