Indian's HSR has stalled!

https://www.thestar.com.my/business/business-news/2018/10/17/india-200-mph-bullet-train-cant-get-started/

The Indian government has encountered some problem in land acquisitions for Japan made HSR.

The government doesn't have the money to properly compensate those affected residents, resulting in huge protests.

There is no way the government can start this HSR project because only 0.9Ha of land is acquired out of the 1400ha needed.  It will take a super long time to acquire the required land size.  Therefore, this HSR project will not kick off.

IHH Healthcare - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/17	CIMB	IHH Healthcare	1.96	2.35	Add	Ringgit $7.06 target price, Sum of parts
02/27/17	Kim Eng	IHH Healthcare	1.93	1.83	Hold	Ringgit $5.80 target price
03/09/17	DIR	IHH Healthcare	1.91	2.06	Hold	Sum of parts, Ringgit $6.47 target price
04/10/17	UOB Kay Hian	IHH Healthcare	1.89	1.85	Hold
05/22/17	DBS Vickers	IHH Healthcare	1.91	2.3	Buy	Sum of parts, Ringgit $7.15 target price
05/22/17	DMG & Partners	IHH Healthcare	1.91	2.35	Buy	DCF, Sum of parts, EV/Ebitda18x FY18
05/23/17	DIR	IHH Healthcare	1.92	2.12	Hold	Sum of parts, Ringgit $6.56
05/23/17	UOB Kay Hian	IHH Healthcare	1.92	1.8	Hold	Sum of parts, Buy @ $1.60
06/05/17	Kim Eng	IHH Healthcare	1.92	2	Hold	Sum of parts, Ringgit $6.17 target
06/06/17	CIMB	IHH Healthcare	1.915	2.21	Add	Ringgit $6.84 target
06/14/17	DBS Vickers	IHH Healthcare	1.94	2.31	Buy	Sum of parts, Ringgit $7.15 target
06/19/17	UOB Kay Hian	IHH Healthcare	1.945	1.8	Hold
07/05/17	Kim Eng	IHH Healthcare	1.88	1.98	Hold	Ringgit $6.15 target price
08/01/17	UOB Kay Hian	IHH Healthcare	1.88	1.8	Hold
08/24/17	UOB Kay Hian	IHH Healthcare	1.895	1.73	Hold	Sum of parts, Buy @ $1.50
08/24/17	CIMB	IHH Healthcare	1.895	2.22	Add	Ringgit $6.99 target price
08/24/17	DBS Vickers	IHH Healthcare	1.895	2.16	Buy	Ringgit $6.81 target
08/24/17	Kim Eng	IHH Healthcare	1.895	1.94	Hold	Ringgit $6.1 target price
08/25/17	DIR	IHH Healthcare	1.895	2.09	Hold	Ringgit $6.56 target
11/28/17	UOB Kay Hian	IHH Healthcare	1.83	1.71	Hold	Sum of parts, Buy @ $1.50
11/28/17	CIMB	IHH Healthcare	1.83	2.08	Add	Sum of parts, Ringgit $6.36 target
11/28/17	DBS Vickers	IHH Healthcare	1.83	2.23	Buy	Ringgit $6.81 target
11/28/17	Lim & Tan	IHH Healthcare	1.83	0	Hold	Expensive at PER50x FY18
11/28/17	Kim Eng	IHH Healthcare	1.83	2.05	Buy	Ringgit $6.3 target price
02/28/18	DMG & Partners	IHH Healthcare	2.05	2.36	Buy	DCF/SOP-based Ringgit $7 target price
03/20/18	DBS Vickers	IHH Healthcare	2.02	2.29	Buy	Sum of parts, Ringgit $6.81 target
03/23/18	MIDF	IHH Healthcare	2.01	2.32	Buy	Ringgit $6.91 target price
04/17/18	Kim Eng	IHH Healthcare	2.05	2.36	Buy	Sum of parts, Ringgit $7 target price
04/17/18	UOB Kay Hian	IHH Healthcare	2.05	2.31	Buy	Ringgit $6.86
04/26/18	DBS Vickers	IHH Healthcare	2.04	2.31	Buy	Rinngit $6.81 target
05/28/18	DMG & Partners	IHH Healthcare	2.08	2.36	Buy	DCF & Sum of parts & EV/Ebitda 18x FY19,  Ringgit $7 target price
08/21/18	CIMB	IHH Healthcare	1.84	2.29	Add	Ringgit $6.86 target
08/21/18	DBS Vickers	IHH Healthcare	1.84	2.14	Buy	Ringgit $6.35 target price
08/29/18	CIMB	IHH Healthcare	1.85	2.2	Add	Sum of parts, Ringgit $6.63 target
10/10/18	DBS Vickers	IHH Healthcare	1.81	2.11	Buy	Ringgit $6.35 target price

IFS Capital - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/17/18	Amfrasers	IFS Capital	0.21	0.29	Buy

Ifast Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/20/17	DBS Vickers	Ifast Corp	0.855	0.94	Hold	DDM
02/20/17	DMG & Partners	Ifast Corp	0.855	0.79	Neutral
02/22/17	phillip	Ifast Corp	0.845	0.78	Neutral	PER25x FY17
04/28/17	DMG & Partners	Ifast Corp	0.6	0.88	Buy	DCF
05/02/17	DBS Vickers	Ifast Corp	0.715	0.94	Buy	DDM
05/05/17	phillip	Ifast Corp	0.74	0.78	Accumulate
05/25/17	UOB Kay Hian	Ifast Corp	0.87	1.05	Buy
06/13/17	UOB Kay Hian	Ifast Corp	0.975	1.02	Hold	DCF, Buy @ $0.90
07/31/17	UOB Kay Hian	Ifast Corp	1.05	1.08	Hold	DCF, Buy @ $0.95
08/01/17	DMG & Partners	Ifast Corp	1.07	1.01	Neutral	DCF
08/01/17	DBS Vickers	Ifast Corp	1.07	1.26	Buy
08/02/17	phillip	Ifast Corp	1.055	1.11	Accumulate	PER34.3x FY17
10/30/17	DMG & Partners	Ifast Corp	0.94	1.01	Neutral	DCF
10/30/17	DBS Vickers	Ifast Corp	0.94	1.26	Buy	DDM
11/01/17	phillip	Ifast Corp	0.97	1.11	Accumulate	GGM
02/15/18	DBS Vickers	Ifast Corp	0.88	1.26	Buy	DDM
04/30/18	DBS Vickers	Ifast Corp	0.9	1.26	Buy	DDM
07/30/18	DBS Vickers	Ifast Corp	1.09	1.26	Buy	DDM

Stock calls for 17 October 2018

Date	Analyst	Company	Last	Target	Call	Valuation
10/17/18	phillip	Cache Logistics	0.715	0.82	Neutral
10/17/18	Phillip	CapitaCommercial	1.69	1.88	Accumulate
10/17/18	Phillip	Capitamall Trust	2.11	2.05	Neutral
10/17/18	Phillip	CapitaRetail China	1.4	1.66	Accumulate
10/17/18	phillip	Dasin Retail	0.855	0.97	Accumulate
10/17/18	UOB Kay Hian	DBS	24.24	29.5	Buy	GGM, PB1.53x FY19
10/17/18	phillip	First Reit	1.18	1.3	Neutral
10/17/18	CIMB	First Reit	1.18	1.36	Add	DDM
10/17/18	Phillip	Frasers Centrepoint Trust	2.23	2.15	Neutral
10/17/18	Amfrasers	IFS Capital	0.21	0.29	Buy
10/17/18	UOB Kay Hian	Japfa	0.61	0.9	Buy
10/17/18	Phillip	Keppel DC Reit	1.34	1.45	Accumulate	DDM
10/17/18	DBS Vickers	Keppel DC Reit	1.34	1.52	Buy
10/17/18	OCBC	Keppel DC Reit	1.34	1.48	Buy	DDM
10/17/18	CIMB	Keppel DC Reit	1.34	1.51	Add	DDM
10/17/18	Phillip	Mapletree Industrial	1.94	2.09	Neutral
10/17/18	OCBC	SIA	9.15	10.71	Buy	PB0.9x

Singapore NODX grew 8.3% in September 2018.

https://www.straitstimes.com/business/economy/singapore-non-oil-export-growth-picks-up-with-83-rise-in-september-electronic?xtor=CS11-86

Year on year changes (YOY):

September 2018: 8.3%

August 2018: 5%

July 2018: 11.8% (Corrected)

June 2018: 1.1%

May 2018: 15.5%

April 2018: 11.8%

March 2018: -2.7%

February 2018: -5.9%

January 2018: 13%

December 2017: 3.1%

November 2017: 9.1%

October 2017: 20.9%

September 2017: -1.1%

August 2017: 16.7%

July 2017: 8.5%

June 2017: 8.2%
May 2017: -1.2%
Apr 2017: -0.7%
Mar 2017: 16.5%
Feb 2017: 21.1%
Jan 2017: 8.6%

http://sg-stock.blogspot.com/2018/09/singapore-nodx-grew-5-in-august-2018.html

OMG! Anti-US movement has started in China!

I've just received this video.

The boycott of US goods has started in China and is spreading to many provinces.

The US-China trade war has escalated.  There are many analysts who think that Trump and Xi will meet in November G20 to de-escalate the trade war.  However, we must also be prepared for the unexpected outcome that the 2 leaders won't meet at all because Trump wants to force Xi to submit to him and Xi doesn't want to lose face.  China is preparing to fight this trade war because Xi has lost faith in Trump because Trump has portrayed himself as non-trustworthy.

This is really bad news for the world as the global economy will suffer.

Hyflux - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/07/17	Credit Suisse	Hyflux	0.57	0.5	Neutral
05/08/17	Credit Suisse	Hyflux	0.56	0.58	Neutral

Hutchison Port - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/17	OCBC	Hutchison Port	0.435	0.46	Buy	DDM
02/03/17	OCBC	Hutchison Port	0.425	0.46	Buy
02/13/17	OCBC	Hutchison Port	0.44	0.45	Hold	Buy @ $0.41 or below
02/14/17	DBS Vickers	Hutchison Port	0.415	0.42	Hold	DCF
04/25/17	OCBC	Hutchison Port	0.41	0.42	Hold
04/26/17	DBS Vickers	Hutchison Port	0.395	0.42	Hold	DCF
06/19/17	OCBC	Hutchison Port	0.445	0.42	Hold	Buy below $0.40
07/20/17	OCBC	Hutchison Port	0.48	0.42	Sell
07/21/17	DBS Vickers	Hutchison Port	0.445	0.42	Hold	DCF
10/31/17	OCBC	Hutchison Port	0.435	0.42	Hold
10/31/17	DBS Vickers	Hutchison Port	0.435	0.39	Hold	DCF
11/22/17	OCBC	Hutchison Port	0.42	0.42	Hold	Buy @ $0.39
02/06/18	OCBC	Hutchison Port	0.375	0.43	Buy
02/06/18	DBS Vickers	Hutchison Port	0.375	0.39	Hold	DCF, Buy @ $0.35
04/16/18	OCBC	Hutchison Port	0.33	0.43	Buy
04/16/18	DBS Vickers	Hutchison Port	0.33	0.38	Buy	DCF
06/01/18	OCBC	Hutchison Port	0.275	0.43	Buy
06/05/18	DBS Vickers	Hutchison Port	0.28	0.38	Buy
06/07/18	OCBC	Hutchison Port	0.305	0.375	Buy
07/03/18	UOB Kay Hian	Hutchison Port	0.28	0.34	Not Rated
07/17/18	OCBC	Hutchison Port	0.28	0.37	Buy
07/24/18	OCBC	Hutchison Port	0.275	0.36	Buy
07/25/18	DBS Vickers	Hutchison Port	0.27	0.28	Hold	DCF

HRnet Group - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/20/17	Credit Suisse	HRnetGroup	0.855	1.1	Outperform	DCF, PER21.9x FY17
08/17/17	Credit Suisse	HRnetGroup	0.75	1.04	Outperform
11/02/17	DMG & Partners	HRnetGroup	0.865	1.14	Buy	DCF, PER16x FY18 Ex-Cash
01/03/18	DBS Vickers	HRnetGroup	0.79	0.96	Buy	DCF & PER15x FY18 (ex-cash)
01/09/18	DMG & Partners	HRnetGroup	0.82	1.14	Buy	DCF
02/15/18	DMG & Partners	HRnetGroup	0.81	1.14	Buy	DCF
02/27/18	Credit Suisse	HRnetGroup	0.805	1.06	Outperform
02/27/18	DBS Vickers	HRnetGroup	0.805	0.97	Buy	PER15x FY18, Ex-cash
05/11/18	DBS Vickers	HRnetGroup	0.83	0.98	Buy	DCF & PER15x (ex-cash)
05/11/18	DMG & Partners	HRnetGroup	0.83	1.14	Buy	DCF
06/11/18	DBS Vickers	HRnetGroup	0.84	0.98	Buy
06/27/18	DMG & Partners	HRnetGroup	0.865	1.18	Buy	DCF
08/13/18	DMG & Partners	HRnetGroup	0.9	1.18	Buy	DCF
08/14/18	DBS Vickers	HRnetGroup	0.885	1.01	Buy	PER15x FY19, ex-cash
09/26/18	CIMB	HRnetGroup	0.87	1.1	Add	PER18x CY20

Stock calls for 16 October 2018

Date	Analyst	Company	Last	Target	Call	Valuation
10/16/18	DMG & Partners	A-Reit	2.5	2.9	Buy	DDM
10/16/18	DMG & Partners	Cache Logistics	0.71	0.84	Buy	DDM
10/16/18	DMG & Partners	CapitaCommercial	1.69	1.8	Neutral	DDM
10/16/18	DMG & Partners	Capitamall Trust	2.09	2.14	Neutral	DDM
10/16/18	DMG & Partners	CDL Hospitality	1.53	1.8	Buy	DDM
10/16/18	Amfrasers	Comfortdelgro	2.12	2.72	Buy	PER19x FY18
10/16/18	DMG & Partners	Frasers Centrepoint Trust	2.23	2.24	Neutral	DDM
10/16/18	DMG & Partners	Frasers Commercial Trust	1.4	1.5	Neutral	DDM
10/16/18	UOB Kay Hian	Keppel Reit	1.14	1.35	Buy	DDM
10/16/18	DMG & Partners	Keppel Reit	1.14	1.07	Neutral	DDM
10/16/18	DBS Vickers	Keppel Reit	1.14	1.41	Buy
10/16/18	CIMB	Keppel Reit	1.14	1.34	Add	DDM
10/16/18	DMG & Partners	Manulife US Reit	0.78	0.92	Buy	DDM
10/16/18	DMG & Partners	OUE Hospitality	0.69	0.8	Buy	DDM
10/16/18	Macquarie	SIA	9.2	11.7	Outperform	EV/Ebitda7x FY19, Cut from $12.50
10/16/18	OCBC	SPH	2.62	2.55	Hold
10/16/18	UOB Kay Hian	SPH	2.62	2.75	Hold	Buy @ $2.50
10/16/18	CIMB	SPH	2.62	2.74	Hold	Sum of parts
10/16/18	Lim & Tan	SPH	2.62	0	Hold
10/16/18	DMG & Partners	Starhill	0.67	0.8	Buy	DDM
10/16/18	DMG & Partners	Suntec Reit	1.78	1.9	Neutral	DDM

Another 2 companies will delist from SGX this year.

https://www.businesstimes.com.sg/companies-markets/wheelock-properties-to-be-delisted-on-oct-18

https://www.businesstimes.com.sg/companies-markets/vard-to-delist-on-nov-2-requests-trading-halt

Sigh! SGX is finding it hard to retain listed companies because of its low liquidity.  Low liquidity usually will cause low valuation and this is a major problem for SGX.

New railway service between Iran and China was launched in September 2018.

https://www.railfreight.com/beltandroad/2018/09/05/new-railway-service-iran-china-launched-connecting-inner-mongolia-bam/

This railway service between Iran & China will definitely take more cargoes off the strait of Malacca and Singapore.  Look like the railway business between Iran and China has briskened to prompt the 2 countries to launch another new railway service.

https://www.lowyinstitute.org/publications/understanding-belt-and-road-initiative

Sigh! Malaysia and Singapore will suffer in the future because of the declining cargo volumes in the future.

Hotung - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/20/17	DMG & Partners	Hotung	1.515	1.9	Buy	PB0.6x, Yield 7%
04/17/17	DMG & Partners	Hotung	1.75	2	Buy	PB0.6x FY17
06/07/17	UOB Kay Hian	Hotung	1.87	3.38	Buy
06/12/17	Lim & Tan	Hotung	1.92	3.02	Buy
07/05/17	UOB Kay Hian	Hotung	1.865	3.38	Buy	PB0.94x
08/17/17	UOB Kay Hian	Hotung	2.1	2.93	Buy

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
06/18/18	OCBC	Hotel Properties	3.73	4.74	Buy
10/15/18	OCBC	Hotel Properties	3.68	4.74	Buy

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
07/03/18	UOB Kay Hian	Hongkong Land	7.13	8.55	Not Rated
07/24/18	DBS Vickers	Hongkong Land	7.2	8.57	Buy
07/27/18	CIMB	Hongkong Land	7.15	9.5	Add	RNAV (30% discount)

Stock calls for 15 October 2018

Date	Analyst	Company	Last	Target	Call	Valuation
10/15/18	DMG & Partners	DBS	24.42	30.3	Buy
10/15/18	Kim Eng	Hi-P	0.915	0.84	Hold
10/15/18	OCBC	Hotel Properties	3.68	4.74	Buy
10/15/18	UOB Kay Hian	OCBC	10.75	14.05	Buy	GGM, PB1.37x FY19
10/15/18	DBS Vickers	Yangzijiang	1.27	1.82	Buy

AI robots will displace humans!

https://sg.finance.yahoo.com/news/don-apos-t-believe-world-113924974.html

This is sadly true and there is nothing we can do about it as long as economic growth is based on productivity.

All economies in this world focus on productivity for economic growth which is a singularity economic concept.  From the industrial revolution to AI development now, we can see that everything is about productivity which is about doing something faster and cheaper.  It is depressing to see that happening because we end up destroying our own economies with just being productive and ignoring other economic developments.

MIT also came up with the conclusion.

https://sg-stock.blogspot.com/2017/05/artificial-intelligence-will-destroy.html

We also gave a precursory on the new society in 2016.

https://sg-stock.blogspot.com/2016/12/the-new-economy-and-radical-social.html

Robotic soldiers are coming soon!

This robotic machine can have wide military applications.

The US used banned bombs in Syria!

https://www.presstv.com/Detail/2018/10/13/576883/USled-warplanes-drop-white-phosphorus-bombs-in-eastern-Syria-Report

The white phosphorus bombs are banned by the UN but the US still uses them.

It is really disgusting to listen to the US talks about human rights when the US uses banned bombs in a war.

Shame on you, USA!

Baltic dry index - 1579

Today, Friday , October 12 2018, the Baltic Dry Index climbed by 64 points, reaching 1579 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: Sembcorp Marine, Cosco & Pan Ocean

US rig count - 1063

Baker Hughes reports U.S. rig count up 11 to 1,063 rigs Baker Hughes reports that the U.S. rig count is up 11 rigs from last week to 1,063, with oil rigs up 8 to 869, gas rigs up 4 to 193, and miscellaneous rigs down 1 to 1. U.S. Rig Count is up 135 rigs from last year's count of 928, with oil rigs up 126, gas rigs up 8, and miscellaneous rigs up 1. The U.S. Offshore Rig Count is unchanged at 23 rigs and up 3 rigs year-over-year. The Canada Rig Count is up 13 rigs from last week to 195, with oil rigs up 8 to 127 and gas rigs up 5 to 68. The Canada Rig Count is down 17 rigs from last year's count of 212, with oil rigs up 15 and gas rigs down 32.

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

Related stocks: Keppel Corp, Sembcorp Marine & Cosco

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
08/14/18	DBS Vickers	Hong Leong Finance	2.7	3.2	Buy	GGM, PB0l7x FY19

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 (30% discount)
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)
06/05/18	UOB Kay Hian	Ho Bee	2.49	3.02	Buy
06/18/18	Lim & Tan	Ho Bee	2.37	0	Buy
06/20/18	Kim Eng	Ho Bee	2.36	3.3	Buy	RNAV (30% discount)
07/09/18	phillip	Ho Bee	2.3	2.98	Accumulate
07/09/18	Kim Eng	Ho Bee	2.3	3.05	Buy
08/14/18	phillip	Ho Bee	2.52	2.98	Accumulate	RNAV (30% discount)
08/16/18	CIMB	Ho Bee	2.57	2.9	Add
08/24/18	CIMB	Ho Bee	2.65	3	Add	RNAV (40% discount)
09/06/18	Kim Eng	Ho Bee	2.59	3.05	Buy
09/18/18	CIMB	Ho Bee	2.49	3	Add
10/02/18	CIMB	Ho Bee	2.59	3	Add