Another company, Jaya, is leaving SGX.

http://www.businesstimes.com.sg/companies-markets/jaya-holdings-to-delist-from-sgx-on-march-1

The 2nd company to delist from SGX after CWG in 2018.

Sigh!

https://sg-stock.blogspot.sg/2018/02/the-1st-delistment-cwg-in-2018.html

SATS - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/16	UOB Kay Hian	SATS	3.84	4.5	Buy
01/25/16	OCBC	SATS	3.92	3.78	Hold
02/03/16	UOB Kay Hian	SATS	4	4.5	Buy	DDM, PER21.5x
02/15/16	CIMB	SATS	3.84	3.98	Hold	DCF
02/15/16	Citigroup	SATS	3.84	4.61	Buy
02/15/16	DBS Vickers	SATS	3.84	3.65	Hold
02/15/16	DMG & Partners	SATS	3.84	3.7	Neutral	DCF
02/15/16	Kim Eng	SATS	3.84	3.82	Hold	PER18x FY17
02/15/16	OCBC	SATS	3.84	4	Hold	DDM
02/15/16	phillip	SATS	3.84	4.05	Accumulate	DCF
03/03/16	UOB Kay Hian	SATS	4	4.5	Buy
04/01/16	DMG & Partners	SATS	3.95	3.7	Neutral	DCF
04/01/16	UOB Kay Hian	SATS	3.95	4.5	Buy
04/07/16	OCBC	SATS	4.04	4	Hold
04/21/16	phillip	SATS	4.06	4.17	Accumulate	DCF
04/28/16	Credit Suisse	SATS	4	5	Outperform
04/29/16	CIMB	SATS	4.17	4.61	Add	DCF & PER19x CY17
05/23/16	Lim & Tan	SATS	4.45	0	Hold
05/24/16	CIMB	SATS	4.25	4.61	Add	DCF & PER19x CY17
05/24/16	Credit Suisse	SATS	4.25	5	Outperform
05/24/16	OCBC	SATS	4.25	4.2	Hold
05/24/16	phillip	SATS	4.25	4.17	Neutral	DCF, PER21.x FY17
05/24/16	UOB Kay Hian	SATS	4.25	4.2	Hold	DDM, Buy @ $3.60
05/27/16	DBS Vickers	SATS	4.17	4.18	Hold
05/31/16	Kim Eng	SATS	4.21	3.76	Sell	PER17x FY18, Cut from $3.86
06/06/16	Citigroup	SATS	4.1	4.61	Buy
06/13/16	Credit Suisse	SATS	4.05	5	Outperform
06/15/16	OCBC	SATS	4.09	4.2	Hold	DDM
06/28/16	DIR	SATS	4.1	4.66	Outperform	DCF, PER21x
07/13/16	Credit Suisse	SATS	4.35	5	Outperform
07/22/16	DIR	SATS	4.35	4.66	Outperform	DCF, PER21x
07/22/16	Kim Eng	SATS	4.35	3.76	Sell	PER17x FY18
07/22/16	OCBC	SATS	4.35	4.2	Hold	DDM
07/22/16	phillip	SATS	4.35	4.24	Neutral	DCF, PER20x FY17
07/22/16	UOB Kay Hian	SATS	4.35	4.45	Hold	DDM, Buy @ $4
07/25/16	CIMB	SATS	4.28	4.57	Add	DCF
07/25/16	DBS Vickers	SATS	4.28	4.64	Buy
07/25/16	Deutsche	SATS	4.28	5.29	Buy
08/24/16	Citigroup	SATS	4.83	5.5	Buy
08/24/16	Kim Eng	SATS	4.83	3.76	Sell
08/24/16	Lim & Tan	SATS	4.83	0	Hold
08/30/16	OCBC	SATS	4.9	4.7	Hold	DDM
08/31/16	CIMB	SATS	4.86	4.64	Hold	DCF, PER19x CY17
09/01/16	Credit Suisse	SATS	4.71	5	Outperform
09/02/16	UOB Kay Hian	SATS	4.65	4.45	Hold	Buy @ $4.20 or below
09/22/16	DIR	SATS	5.11	5.22	Hold	DCF
09/28/16	Deutsche	SATS	4.97	5.79	Buy
09/28/16	OCBC	SATS	4.97	4.7	Hold	Buy @ $4.40 or below
11/11/16	CIMB	SATS	4.74	4.95	Hold	DCF & PER19x CY19
11/11/16	Credit Suisse	SATS	4.74	4.9	Neutral
11/11/16	DIR	SATS	4.74	4.97	Hold	DCF
11/11/16	Kim Eng	SATS	4.74	3.76	Sell	PER17x FY18
11/11/16	Lim & Tan	SATS	4.74	0	Buy on weakness
11/11/16	OCBC	SATS	4.74	4.7	Hold	Buy @ $4.40 or below
11/11/16	phillip	SATS	4.74	4.48	Neutral	DCF, PER19.8x FY17
11/11/16	UOB Kay Hian	SATS	4.74	4.5	Hold	DDM, Buy @ $4.25
12/06/16	CIMB	SATS	4.89	4.95	Hold	DCF, PER19x CY18
12/07/16	Deutsche	SATS	4.8	5.79	Buy
12/08/16	Citigroup	SATS	4.75	5.5	Buy	PER21x FY18
01/11/17	UOB Kay Hian	SATS	4.94	4.5	Hold
01/20/17	DIR	SATS	5.19	4.97	Hold
02/02/17	Credit Suisse	SATS	5.26	4.9	Neutral
02/08/17	UOB Kay Hian	SATS	5.15	4.5	Hold
02/10/17	CIMB	SATS	4.98	5	Hold	DCF & PER19x CY19
02/10/17	DIR	SATS	4.98	4.93	Hold	DCF
02/10/17	Kim Eng	SATS	4.98	3.76	Sell	PER17x FY18
02/10/17	Lim & Tan	SATS	4.98	0	Hold
02/10/17	OCBC	SATS	4.98	4.7	Hold	Buy @ $4.40
02/10/17	phillip	SATS	4.98	4.73	Neutral	DCF
02/10/17	UOB Kay Hian	SATS	4.98	4.6	Hold	DDM, PER23x FY18, Buy @ $4.30
03/21/17	DIR	SATS	4.82	4.93	Hold	DCF
04/03/17	UOB Kay Hian	SATS	4.88	4.6	Hold
04/07/17	Credit Suisse	SATS	4.89	4.9	Neutral
05/03/17	UOB Kay Hian	SATS	5.12	4.6	Hold
05/18/17	CIMB	SATS	5.28	5.17	Hold	DCF & PER19x
05/22/17	CIMB	SATS	5.29	5.11	Hold	DCF & PER19x
05/22/17	Credit Suisse	SATS	5.29	4.65	Underperform
05/22/17	DIR	SATS	5.29	5	Hold	DCF
05/22/17	Kim Eng	SATS	5.29	4.9	Hold	PER17x
05/22/17	OCBC	SATS	5.29	5.12	Hold	DCF, Buy @ $4.7 or lower
05/22/17	phillip	SATS	5.29	5.08	Hold	DCF, PER23.2x FY18
05/22/17	UOB Kay Hian	SATS	5.29	5.05	Hold	DDM
06/06/17	UOB Kay Hian	SATS	5.22	5.05	Hold	Buy @ $4.75
06/16/17	OCBC	SATS	5.08	5.12	Hold	Buy @ $4.70 or lower
07/14/17	DIR	SATS	4.94	5	Hold	DCF
07/20/17	Credit Suisse	SATS	5.09	4.65	Underperform
07/24/17	Kim Eng	SATS	5.08	4.9	Hold	PER
07/24/17	DIR	SATS	5.08	5.05	Hold	DCF
07/24/17	phillip	SATS	5.08	5.08	Neutral	DCF, PER23.2x FY18
07/24/17	UOB Kay Hian	SATS	5.08	5.1	Hold	DDM
07/24/17	CIMB	SATS	5.08	5.11	Hold	DCF & PER19x
07/24/17	OCBC	SATS	5.08	5.05	Hold	DCF, Buy @ $4.7 or lower
07/24/17	Lim & Tan	SATS	5.08	5.09	Sell	Bloomberg consensus
08/02/17	DIR	SATS	4.85	5.05	Hold
08/02/17	UOB Kay Hian	SATS	4.85	5.4	Buy	DDM, PER23.5x FY18
08/22/17	Credit Suisse	SATS	4.83	4.6	Underperform
09/05/17	UOB Kay Hian	SATS	4.76	5.4	Buy	DDM, PER23.5x FY18
09/18/17	OCBC	SATS	4.74	5.05	Hold	Buy @ $4.70 or lower
09/25/17	DBS Vickers	SATS	4.65	5.02	Buy	DCF & PER21x FY18
09/25/17	CIMB	SATS	4.65	4.24	Reduce	PER18x CY19
09/26/17	DIR	SATS	4.57	5.19	Outperform	DCF
10/02/17	OCBC	SATS	4.61	5.05	Buy
10/04/17	UOB Kay Hian	SATS	4.66	5.4	Buy	PER23.5x FY18
11/01/17	DBS Vickers	SATS	4.7	5.02	Buy
11/02/17	UOB Kay Hian	SATS	4.75	5.4	Buy	PER23.5x FY18
11/10/17	UOB Kay Hian	SATS	4.71	6	Buy	DCF, PER24.6x FY18
11/10/17	OCBC	SATS	4.71	5.05	Buy
11/10/17	CIMB	SATS	4.71	4.81	Hold	PER20x CY18
11/10/17	phillip	SATS	4.71	5.24	Accumulate	DCF, PER23.2x FY18
11/13/17	Kim Eng	SATS	5.01	5.7	Buy	PER21x FY19/20
11/13/17	Credit Suisse	SATS	5.01	4.6	Neutral
12/04/17	UOB Kay Hian	SATS	5.24	6	Buy
12/20/17	CIMB	SATS	5.26	4.81	Hold
01/16/18	OCBC	SATS	5.78	5.5	Hold	Buy @ $5.05 or lower
02/14/18	Kim Eng	SATS	5.25	6.1	Buy	PER21x FY20
02/14/18	UOB Kay Hian	SATS	5.25	5.9	Buy	DCF, PER25.2x FY18
02/14/18	OCBC	SATS	5.25	5.5	Hold	Buy @ $5.05 or lower
02/14/18	CIMB	SATS	5.25	5.17	Hold	PER20x FY19
02/14/18	phillip	SATS	5.25	5.33	Neutral	DCF, PER23.3x FY18
02/14/18	DBS Vickers	SATS	5.25	5.67	Buy	DCF, PER22x FY19

Sarine - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/07/16	Kim Eng	Sarine	1.55	1.29	Hold
01/07/16	Lim & Tan	Sarine	1.55	0	Sell
03/01/16	CIMB	Sarine	1.415	1.67	Add	PER12.5x
03/01/16	Kim Eng	Sarine	1.415	1.97	Buy	DCF
05/10/16	CIMB	Sarine	1.735	1.95	Add	PER15.3x CY17
05/10/16	Kim Eng	Sarine	1.735	1.94	Buy	DCF
07/08/16	Kim Eng	Sarine	1.7	1.94	Buy	DCF
08/10/16	CIMB	Sarine	1.795	1.95	Add	PER15.3x CY17
08/10/16	Kim Eng	Sarine	1.795	2.07	Buy	DCF
10/12/16	Kim Eng	Sarine	1.66	2.01	Buy	DCF
11/15/16	Kim Eng	Sarine	1.6	1.97	Buy	DCF
11/16/16	CIMB	Sarine	1.66	1.95	Add	PER15.3x FY18
02/28/17	CIMB	Sarine	1.9	1.95	Hold
05/15/17	CIMB	Sarine	1.915	1.96	Hold	PER15.3x CY18
02/06/18	CIMB	Sarine	1.05	1.56	Add	PER17.2x CY19
02/27/18	CIMB	Sarine	1.18	1.53	Add	PER17.2x CY19

Stock calls for 28 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/28/18	Phillip	APTV	0.575	0.62	Accumulate
02/28/18	UOB Kay Hian	Banyan Tree	0.62	0.92	Buy	Sum of parts
02/28/18	DBS Vickers	Best World	1.44	1.79	Buy	PER17x FY18
02/28/18	CIMB	Best World	1.44	1.7	Add	PER14x CY19
02/28/18	DMG & Partners	Bumitama	0.745	0.85	Buy	PER12x FY18
02/28/18	DBS Vickers	Bumitama	0.745	0.94	Buy	DCF, PER14.5x FY18
02/28/18	Kim Eng	Bumitama	0.745	0.99	Buy	PER14x FY18
02/28/18	Credit Suisse	Bumitama	0.745	1	Outperform
02/28/18	UOB Kay Hian	Citic Envirotech	0.755	1.06	Buy	DCF, PER11.6x FY19
02/28/18	Kim Eng	Cityneon	1.1	1.55	Buy
02/28/18	DMG & Partners	Delfi	1.52	1.54	Neutral	DCF
02/28/18	DBS Vickers	First Resources	1.79	2.18	Buy	DCF, PER15.8x FY18
02/28/18	CIMB	First Resources	1.79	2.03	Add	PER15x CY19
02/28/18	Credit Suisse	First Resources	1.79	2.3	Neutral
02/28/18	CIMB	Golden Agri	0.36	0.31	Reduce	PER15x FY19
02/28/18	OCBC	Golden Agri	0.36	0.37	Hold
02/28/18	Credit Suisse	Golden Agri	0.36	0.35	Underperform
02/28/18	DBS Vickers	Hong Leong Finance	2.68	3.2	Buy	GGM, PB0.8x FY17
02/28/18	OCBC	Hotel Properties	3.78	4.74	Buy	RNAV
02/28/18	DMG & Partners	IHH Healthcare	2.05	2.36	Buy	DCF/SOP-based Ringgit $7 target price
02/28/18	Lim & Tan	ISDN	0.23	0	Take Profit
02/28/18	DBS Vickers	Raffles Medical	1.16	1	Fully Valued	Sum of parts, PER26x FY18
02/28/18	Kim Eng	UOL	8.52	10.4	Buy	RNAV (10% discount)
02/28/18	OCBC	UOL	8.52	10.63	Buy	RNAV
02/28/18	CIMB	UOL	8.52	9.67	Add	RNAV (20% discount)
02/28/18	Credit Suisse	UOL	8.52	10.8	Outperform

Wow! UN is so good at investigating chemical weapons and ballistic missiles now.

https://sg.news.yahoo.com/un-experts-north-korea-sent-banned-chemical-items-020946519.html

UN is accusing North Korea of exporting chemical weapons to Syria and ballistic missiles to Myanmar.

If UN was so good at investigation, then it should know about Iraq's non-existent of WMDs.  Why did UN allow US's unilateral invasion of Iraq then?

US proposes anti-dumping on China aluminium foil.

https://sg.finance.yahoo.com/news/us-rules-chinese-firms-sold-000054062.html

Raw materials from paper, chemical, metal and so forth are going to increase tremendously in prices because of trade wars and supply problems.

Global inflation will become a real threat in 2018.

China has created the world's first 5G mobile chip.

http://www.chinadaily.com.cn/cndy/2018-02/27/content_35745699.htm

China is at the forefront of mobile technology now with the world's first 5G mobile chip.  Huawei has the most advanced and fastest mobile phone now with this chip whilst the USA is still trying to develop its 5G network.

China imposes an anti-dumping measure on Singapore.

http://www.chinadaily.com.cn/a/201802/27/WS5a94f7dfa3106e7dcc13e5ee.html

I hope that there won't be more anti-dumping measures imposed on Singapore or else SG's economy will be greatly affected as SG will become less competitive.

Inflation will come fast and furious with so many anti-dumping measures.  Simultaneously, interest rates will also increase a few times this year as indicated by Jerome Powell's speech yesterday.

http://sg-stock.blogspot.sg/2018/02/us-bond-yields-will-continue-to-rise-in.html

Toilet and tissue paper prices are going to increase soon!

https://www.channelnewsasia.com/news/asiapacific/taiwan-toilet-paper-price-hike-consumers-shopping-empty-shelves-9993494

International paper prices are rising in the world.  This is a worldwide phenomenon as shown on the price charts in USA and International market.

Taiwan is having a toilet roll run now.

Sanli Env - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/14/17	SAC Advisors	Sanli Env	0.3	0.36	Buy
01/11/18	SAC Advisors	Sanli Env	0.295	0.36	Buy	PER15.9x FY18

Samudera - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/14/16	Amfrasers	Samudera	0.205	0.21	Hold	PER8x FY16
02/29/16	Amfrasers	Samudera	0.195	0.21	Hold	PER8x FY16
04/29/16	Amfrasers	Samudera	0.21	0.21	Hold	PER8x FY16
07/29/16	Amfrasers	Samudera	0.18	0.19	Hold	PER8x FY16
09/16/16	Amfrasers	Samudera	0.181	0.18	Hold	PB0.3x FY16
10/28/16	Amfrasers	Samudera	0.175	0.22	Buy	PB0.4x
04/26/17	Amfrasers	Samudera	0.189	0.26	Buy	PB0.4x
10/13/17	Amfrasers	Samudera	0.24	0.38	Buy	PB0.6x FY17

Stock calls for 27 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/27/18	Kim Eng	Best World	1.37	2.06	Buy
02/27/18	phillip	CNMC	0.26	0.3	Accumulate	DCF
02/27/18	CIMB	CSE Global	0.37	0.39	Hold	PER12x CY19
02/27/18	Kim Eng	First Resources	1.76	2.2	Buy	PER17x FY18
02/27/18	DMG & Partners	First Resources	1.76	1.75	Neutral	PER12x FY18
02/27/18	UOB Kay Hian	Hock Lian Seng	0.51	0.65	Buy
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
02/27/18	Phillip	Raffles Medical	1.1	1.32	Accumulate	DCF
02/27/18	UOB Kay Hian	Raffles Medical	1.1	1.32	Buy	DCF
02/27/18	OCBC	Raffles Medical	1.1	1.26	Buy	Sum of parts
02/27/18	Kim Eng	Raffles Medical	1.1	1.13	Hold	DCF
02/27/18	DMG & Partners	Raffles Medical	1.1	1.02	Neutral	DCF
02/27/18	CIMB	Sarine	1.18	1.53	Add	PER17.2x CY19
02/27/18	DBS Vickers	Sembcorp Industries	3.2	4.4	Buy	Sum of parts (10% discount), PB1.1x
02/27/18	Amfrasers	Sembcorp Marine	2.18	2.06	Hold
02/27/18	DMG & Partners	ST Engineering	3.44	4.04	Buy	PER23x & PB5.5x & EV/Ebitda16x & DCF

Goldilocks is accusing Noble Group of inflating its derivative contracts.

http://www.businesstimes.com.sg/companies-markets/goldilocks-calls-nobles-profit-warning-figures-extremely-shocking

Goldilocks is regretting its Noble Group investment now because it is accusing Noble Group of inflating the derivatives contracts and forcing the existing shareholders to accept the debt restructuring plan.

Whatever it is, Noble Group is heading towards bankruptcy without any debt restructuring.

http://sg-stock.blogspot.sg/2018/02/noble-group-is-virutally-bankrupt-after.html

Sabana Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/16	UOB Kay Hian	Sabana Reit	0.71	0.92	Buy
01/26/16	UOB Kay Hian	Sabana Reit	0.7	0.89	Buy
03/30/16	UOB Kay Hian	Sabana Reit	0.635	0.89	Buy
04/13/16	Kim Eng	Sabana Reit	0.645	0.89	Not Rated
04/19/16	UOB Kay Hian	Sabana Reit	0.66	0.84	Buy	DDM
01/23/17	phillip	Sabana Reit	0.375	0.51	Trading Buy	PB0.9x, Ex-rights 42 for 100 @ $0.258
03/06/17	phillip	Sabana Reit	0.43	0.54	Trading Buy	PB0.9x
05/11/17	phillip	Sabana Reit	0.455	0.54	Trading Buy	PB0.9X
08/08/17	phillip	Sabana Reit	0.49	0.57	Trading Buy	PB1x

Roxy-Pacific - Stock calls

Date	Analyst	Code	Company	Last	Target	Call	Percent	Valuation
01/27/16	NRA	E8Z	Roxy-Pacific	0.49	0.56	Not Rated	14.29	PB0.7x
02/29/16	NRA	E8Z	Roxy-Pacific	0.49	0.575	Not Rated	17.35	RNAV (30% discount)
03/14/16	OCBC	E8Z	Roxy-Pacific	0.49	0.52	Hold	6.12
08/01/16	OCBC	E8Z	Roxy-Pacific	0.46	0.52	Hold	13.04
09/20/16	NRA	E8Z	Roxy-Pacific	0.45	0.54	Not Rated	20.00	RNAV (40% discount)
11/01/16	OCBC	E8Z	Roxy-Pacific	0.42	0.52	Hold	23.81
08/01/17	OCBC	E8Z	Roxy-Pacific	0.525	0.52	Hold	-0.95
11/22/17	OCBC	E8Z	Roxy-Pacific	0.52	0.52	Hold	0.00
12/07/17	OCBC	E8Z	Roxy-Pacific	0.54	0.6	Buy	11.11
12/12/17	DBS Vickers	E8Z	Roxy-Pacific	0.53	0.69	Buy	30.19	RNAV (30% discount)
02/15/18	OCBC	E8Z	Roxy-Pacific	0.56	0.66	Buy	17.86
02/19/18	DBS Vickers	E8Z	Roxy-Pacific	0.56	0.69	Buy	23.21	RNAV (30% discount)

Stock calls for 26 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/26/18	DMG & Partners	Amara	0.55	0.88	Buy	PB0.65x
02/26/18	DMG & Partners	APAC Realty	1.1	1.35	Buy	DCF
02/26/18	DBS Vickers	APAC Realty	1.1	1.25	Buy	DCF & PER15x FY18
02/26/18	Lim & Tan	CSE Global	0.345	0	Buy
02/26/18	Amfrasers	Frencken	0.67	0.72	Hold	PER12x FY18
02/26/18	Kim Eng	Genting	1.3	1.46	Buy	EV/Ebitda 12x FY18
02/26/18	UOB Kay Hian	Genting	1.3	1.3	Hold	EV/Ebitda10.4x FY18, Buy @ $1.15
02/26/18	DBS Vickers	Genting	1.3	1.49	Buy	DCF
02/26/18	DMG & Partners	Genting	1.3	1.34	Neutral	DCF
02/26/18	OCBC	Genting	1.3	1.45	Buy	FCFE
02/26/18	CIMB	Genting	1.3	1.49	Add	EV/Ebitda12x FY19
02/26/18	OCBC	OUE	1.93	2.28	Buy
02/26/18	CIMB	Riverstone	1.04	1.28	Add	PER18.6x FY19
02/26/18	DBS Vickers	Riverstone	1.04	1.27	Buy	PER16x FY19
02/26/18	Kim Eng	Riverstone	1.04	1.22	Buy	PER18x FY18
02/26/18	OCBC	Sembcorp Industries	3.24	3.84	Buy
02/26/18	phillip	Sembcorp Industries	3.24	3.86	Accumulate	Sum of parts
02/26/18	UOB Kay Hian	Sembcorp Industries	3.24	3.28	Hold	Sum of parts, Buy @ $2.90
02/26/18	CIMB	Sembcorp Industries	3.24	4.13	Add	Sum of parts, PER8x FY18, PB0.63x FY18
02/26/18	phillip	Sembcorp Marine	2.23	1.91	Reduce	PER43.4x FY18
02/26/18	phillip	Sheng Siong	0.93	1.13	Buy	PER23x FY18
02/26/18	DMG & Partners	Sheng Siong	0.93	0.98	Neutral	DCF & PER
02/26/18	OCBC	Sheng Siong	0.93	1.06	Buy
02/26/18	CIMB	Sheng Siong	0.93	1.08	Add	PER22.3x CY19
02/26/18	CIMB	ST Engineering	3.39	3.8	Add	DCF, PER & Div yield
02/26/18	UOB Kay Hian	ST Engineering	3.39	3.6	Hold	DCF, Buy @ $3.20
02/26/18	DBS Vickers	ST Engineering	3.39	3.9	Buy
02/26/18	Lim & Tan	ST Engineering	3.39	0	Buy
02/26/18	DBS Vickers	Wilmar	3.13	3.65	Buy	DCF
02/26/18	DMG & Partners	Wilmar	3.13	3.45	Buy	Sum of parts

Do you support a rules-based system in the world?

https://sg.news.yahoo.com/china-demands-u-stops-unilateral-sanctions-over-north-150441118--sector.html

Many countries which support rules-based order or system in this world are keeping quiet when a big and mighty country like the USA is not following the rules-based order.

We must stop any country from imposing unilateral sanctions against another country without UN mandate.  What's the purpose of having an international entity like UN when a big and mighty country can just flout the international rules?

UN didn't stop the USA from invading Iraq with fabricated intelligence in the past.

UN is not stopping the USA from imposing excessive and illegal sanctions against NK now.

China is right to protest against the US for the unilateral sanctions.  We need to support a rules-based system and protest against any unilateral and illegal sanctions too.

Kota Baru snatch theft in Malaysia.

Poor elderly woman! Nobody is there to help her because of huge public distrust.

When there is a huge public distrust, a person will always second-guess another person's kind gesture.  This results in public apathy and people are unwilling to step forward to help.

An excellent example to depict the public distrust would be the Singapore driver's kind gesture.

http://sg-stock.blogspot.sg/2018/01/it-doesnt-pay-to-be-samaritan-in.html

2 kind drivers offered to a drive to students during raining days but police were called in to investigate the incidents.  Who would want to do good deed or offer kind gesture when the police will come knocking at the door?

Baltic dry index - 1185

Today, Friday, February 23 2018, the Baltic Dry Index climbed by 18 points, reaching 1185 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 - 978

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by three this week to 978.

That exceeds the 754 rigs that were active this time a year ago.

Houston oilfield services company Baker Hughes reported Friday that 799 rigs drilled for oil this week and 179 for gas.

Among major oil- and gas-producing states, Texas increased by three rigs, New Mexico gained two and Colorado, Louisiana, North Dakota, Ohio and Wyoming each gained one.

Oklahoma decreased by two rigs and Kansas, Pennsylvania and West Virginia each lost one.

Alaska, Arkansas, California and Utah were unchanged.

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.

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Related stocks: Keppel Corp, Sembcorp Marine & Cosco.

US bond yields will continue to rise in 2018. Why? - Part 2

http://wallstreetexaminer.com/2018/02/treasury-seven-year-sale-caps-258-billion-week-higher-yields-git-r-done/

https://www.reuters.com/article/usa-bonds/treasuries-prices-pare-gains-after-soft-seven-year-auction-idUSL2N1QC1QF

USD 7-year treasury demand was weaker than expected and resulted in a soft sale.  With QE taperings in Europe & USA, there are lesser cheap monies in the world to be used or bond purchases.  Thus, it is not surprising for the US bonds to have weak sales.

Conversely, the central bankers from China, Japan and Saudi seemed to have lost faith in the USA long-term economic growth due to the increasing investment risks as Trump's policies focused on cutting taxes, militarization and infrastructure spending which didn't groove with economic sense.  In a nutshell, the USA is cutting tax revenues but increasing expenditures with no money in the coffer.  Therefore, the USA has to raise about USD$1T annually from 2018 to 2028 by issuing a lot of bonds to meet the fiscal deficits.

http://sg-stock.blogspot.sg/2018/02/us-bond-yields-will-continue-to-rise-in.html

India has to pay a high price to be an USA ally to contain China.

https://sg.finance.yahoo.com/news/exclusive-u-tells-india-cut-tariffs-trade-friction-061636397--finance.html

India has to pay a high price to be part of the USA allies to contain China.

Is the Indian economy strong enough to withstand the tariff cuts?  Obviously not!  India is in need of money to develop its economy and is in a serious fiscal deficit.

https://www.businesstoday.in/current/economy-politics/india-fiscal-deficit-breaches-target-borrowing-government-securities-economy-fy18/story/266906.html

Another USA anti-dumping measure. Rubberband is being targeted now.

https://www.commerce.gov/news/press-releases/2018/02/us-department-commerce-initiates-antidumping-duty-and-countervailing-1

OMG! Can you believe it? Rubberband is being targeted by the USA now.

The USA inflation is going to shoot up fast and furious now as the government implements more anti-dumping measures.

China is Vietnam's largest export market now!

http://www.chinadaily.com.cn/a/201802/23/WS5a8fb353a3106e7dcc13da07.html

Vietnam has managed to export more goods to China after settling the South China Sea issue.

The Vietnamese leaders have great foresight.

http://sg-stock.blogspot.sg/2017/11/vietnam-and-china-have-resolved-south.html

http://sg-stock.blogspot.sg/2017/01/vietnam-forsakes-usa-and-deflects-to.html

Rotary Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/26/16	Lim & Tan	Rotary Engineering	0.31	0	Hold
05/09/16	Lim & Tan	Rotary Engineering	0.38	0	Hold
09/16/16	Lim & Tan	Rotary Engineering	0.39	0	Hold
11/09/16	Lim & Tan	Rotary Engineering	0.39	0	Hold
10/02/17	Lim & Tan	Rotary Engineering	0.41	0.46	Accept Offer	Offer price $0.46