https://www.channelnewsasia.com/news/asia/china-cccc-ecrl-malaysia-rail-project-negotiate-cost-20-billion-11189898
The china construction cost for the ECRL was already the lowest under the OBR initiative because of China's expertise and technology. There is no way another country can build the ECRL at a much lower cost than China. Therefore, the Malaysian government is disseminating fake news about China offering close to 50% discount for the ECRL construction. If China really did offer close to 50% discount, there would be no reason for Malaysia not to accept it.
The real reason the Malaysian government cancelled the ECRL project was that China bypassed the Malaysia government and paid directly to its construction firms offshore. The fund never reached the Malaysian shore because China knew that the fund would go missing and its construction firms would not be able to receive the full construction costs.
The Chinese know how corrupted the Malaysian government officials are and refuse to transfer the fund to Malaysia but choose to pay directly offshore. This offshore payment arrangement annoys Mahathir because he and his lackeys cannot touch the fund at all.
Thursday, January 31, 2019
Frasers Property - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/02/18 | Lim & Tan | Frasers Property | 2.08 | 0 | Buy | |
| 02/12/18 | CIMB | Frasers Property | 1.96 | 2.4 | Add | RNAV (30% discount) |
| 02/12/18 | DBS Vickers | Frasers Property | 1.96 | 2.35 | Buy | RNAV (20% discount), PB1x |
| 04/13/18 | DBS Vickers | Frasers Property | 1.96 | 2.35 | Buy | |
| 05/11/18 | CIMB | Frasers Property | 1.95 | 2.4 | Add | |
| 07/06/18 | DBS Vickers | Frasers Property | 1.67 | 2.35 | Buy | |
| 07/09/18 | DBS Vickers | Frasers Property | 1.58 | 1.9 | Buy | RNAV (35% discount) |
| 08/13/18 | DBS Vickers | Frasers Property | 1.71 | 1.98 | Buy | RNAV (35% discount) |
| 08/13/18 | CIMB | Frasers Property | 1.71 | 2.02 | Add | RNAV (35% discount) |
| 11/12/18 | CIMB | Frasers Property | 1.62 | 2.08 | Add | RNAV (35% discount) |
| 11/13/18 | DBS Vickers | Frasers Property | 1.63 | 1.98 | Buy | RNAV (35% discount) |
| 01/17/19 | DBS Vickers | Frasers Property | 1.74 | 1.98 | Buy | RNAV (35% discount) |
Frasers Logistics - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/10/18 | OCBC | Frasers Logistics | 1.19 | 1.25 | Buy | |
| 01/29/18 | CIMB | Frasers Logistics | 1.15 | 1.24 | Add | DDM |
| 01/29/18 | DBS Vickers | Frasers Logistics | 1.15 | 1.24 | Buy | |
| 03/06/18 | OCBC | Frasers Logistics | 1.07 | 1.25 | Buy | |
| 04/13/18 | DBS Vickers | Frasers Logistics | 1.07 | 1.24 | Buy | |
| 04/23/18 | CIMB | Frasers Logistics | 1.08 | 1.24 | Add | DDM |
| 04/23/18 | OCBC | Frasers Logistics | 1.08 | 1.25 | Buy | |
| 05/08/18 | OCBC | Frasers Logistics | 1.02 | 1.25 | Buy | |
| 05/09/18 | CIMB | Frasers Logistics | 1.03 | 1.24 | Add | DDM |
| 05/09/18 | OCBC | Frasers Logistics | 1.03 | 1.21 | Buy | |
| 06/26/18 | DBS Vickers | Frasers Logistics | 1.03 | 1.2 | Buy | DCF |
| 07/05/18 | DBS Vickers | Frasers Logistics | 1.04 | 1.2 | Buy | DCF |
| 07/31/18 | OCBC | Frasers Logistics | 1.05 | 1.21 | Buy | |
| 08/03/18 | CIMB | Frasers Logistics | 1.05 | 1.24 | Add | DDM |
| 09/03/18 | OCBC | Frasers Logistics | 1.1 | 1.18 | Buy | |
| 09/03/18 | DBS Vickers | Frasers Logistics | 1.1 | 1.2 | Buy | |
| 09/03/18 | Lim & Tan | Frasers Logistics | 1.1 | 0 | Hold | |
| 09/07/18 | OCBC | Frasers Logistics | 1.08 | 1.19 | Buy | |
| 10/25/18 | UOB Kay Hian | Frasers Logistics | 1.03 | 1.16 | Buy | |
| 11/05/18 | DBS Vickers | Frasers Logistics | 1.04 | 1.2 | Buy | DCF |
| 11/08/18 | CIMB | Frasers Logistics | 1.05 | 1.19 | Add | DDM |
| 11/08/18 | OCBC | Frasers Logistics | 1.05 | 1.19 | Buy | |
| 12/03/18 | OCBC | Frasers Logistics | 1.06 | 1.19 | Buy | |
| 01/28/19 | DBS Vickers | Frasers Logistics | 1.06 | 1.2 | Buy | DCF |
| 01/28/19 | OCBC | Frasers Logistics | 1.06 | 1.19 | Buy | |
| 01/28/19 | CIMB | Frasers Logistics | 1.06 | 1.19 | Add |
Frasers Hospitality Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/26/18 | UOB Kay Hian | Frasers Hospitality Trust | 0.81 | 0.9 | Buy | DDM |
| 02/20/18 | DBS Vickers | Frasers Hospitality Trust | 0.79 | 0.89 | Buy | |
| 03/15/18 | UOB Kay Hian | Frasers Hospitality Trust | 0.78 | 0.9 | Buy | |
| 04/13/18 | DBS Vickers | Frasers Hospitality Trust | 0.75 | 0.89 | Buy | |
| 04/27/18 | UOB Kay Hian | Frasers Hospitality Trust | 0.745 | 0.9 | Buy | |
| 04/27/18 | DBS Vickers | Frasers Hospitality Trust | 0.745 | 0.83 | Buy | DCF |
| 07/06/18 | DBS Vickers | Frasers Hospitality Trust | 0.675 | 0.83 | Buy | |
| 07/30/18 | DBS Vickers | Frasers Hospitality Trust | 0.7 | 0.8 | Buy | DCF |
| 07/30/18 | UOB Kay Hian | Frasers Hospitality Trust | 0.7 | 0.82 | Buy | DDM |
| 09/17/18 | Kim Eng | Frasers Hospitality Trust | 0.69 | 0.8 | Buy | DDM |
| 10/25/18 | UOB Kay Hian | Frasers Hospitality Trust | 0.7 | 0.82 | Buy | |
| 10/29/18 | Kim Eng | Frasers Hospitality Trust | 0.7 | 0.8 | Buy | DDM |
| 10/29/18 | DBS Vickers | Frasers Hospitality Trust | 0.7 | 0.78 | Buy | DCF |
Stock calls for 31 January 2019
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 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 | |
| 01/31/19 | CIMB | CDL Hospitality | 1.63 | 1.64 | Add | DDM |
| 01/31/19 | Kim Eng | CDL Hospitality | 1.63 | 1.8 | Buy | DDM |
| 01/31/19 | OCBC | CDL Hospitality | 1.63 | 1.56 | Hold | |
| 01/31/19 | DBS Vickers | CDL Hospitality | 1.63 | 1.85 | Buy | DCF |
| 01/31/19 | Kim Eng | DBS | 23.94 | 30.18 | Buy | DDM |
| 01/31/19 | Kim Eng | OCBC | 11.39 | 10.95 | Hold | DDM |
| 01/31/19 | OCBC | OUE Commercial | 0.49 | 0.5 | Hold | |
| 01/31/19 | DBS Vickers | OUE Commercial | 0.49 | 0.6 | Buy | DCF |
| 01/31/19 | OCBC | OUE Hospitality | 0.725 | 0.82 | Buy | |
| 01/31/19 | UOB Kay Hian | ST Engineering | 3.66 | 4.06 | Buy | |
| 01/31/19 | CIMB | Starhill | 0.72 | 0.75 | Add | DDM |
| 01/31/19 | DBS Vickers | Starhill | 0.72 | 0.75 | Buy | |
| 01/31/19 | Kim Eng | UOB | 25.3 | 30.5 | Buy | DDM |
Renminbi (RMB) is appreciating abnormally! - Part 2
https://www.thestreet.com/markets/fed-chair-powell-faces-task-of-saying-something-about-nothing-14850526?puc=yahoo&cm_ven=YAHOO&yptr=yahoo
The US FED is confirmed being dovish now!
What has changed so far?
The "gradual increases" in US interest rates path has been removed and replaced with a "wait-and-see" approach. This may mean a rate hike or reduction in the future depending on the economic data.
The economic repercussion is a depreciating USD versus an appreciating RMB.
We hit the head of the nail when we took cognizant of an appreciating RMB recently and attributed it to the US FED previously. Our analysis has become more pronounced now with a further appreciation in RMB after the US FED statement.
https://sg-stock.blogspot.com/2019/01/reminbi-rmb-is-appreciating-abnormally.html
An appreciating RMB means that there is an influx of foreign capital and this will disrupt China's economic developments.
The US FED is confirmed being dovish now!
What has changed so far?
The "gradual increases" in US interest rates path has been removed and replaced with a "wait-and-see" approach. This may mean a rate hike or reduction in the future depending on the economic data.
The economic repercussion is a depreciating USD versus an appreciating RMB.
We hit the head of the nail when we took cognizant of an appreciating RMB recently and attributed it to the US FED previously. Our analysis has become more pronounced now with a further appreciation in RMB after the US FED statement.
https://sg-stock.blogspot.com/2019/01/reminbi-rmb-is-appreciating-abnormally.html
An appreciating RMB means that there is an influx of foreign capital and this will disrupt China's economic developments.
Wednesday, January 30, 2019
Frasers Commercial Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/05/18 | DMG & Partners | Frasers Commercial Trust | 1.53 | 1.39 | Neutral | |
| 01/19/18 | DBS Vickers | Frasers Commercial Trust | 1.51 | 1.71 | Buy | DCF |
| 01/23/18 | OCBC | Frasers Commercial Trust | 1.55 | 1.51 | Hold | |
| 01/23/18 | DMG & Partners | Frasers Commercial Trust | 1.55 | 1.55 | Neutral | DDM |
| 01/24/18 | CIMB | Frasers Commercial Trust | 1.52 | 1.55 | Hold | DDM |
| 02/20/18 | DBS Vickers | Frasers Commercial Trust | 1.44 | 1.71 | Buy | |
| 04/05/18 | OCBC | Frasers Commercial Trust | 1.41 | 1.51 | Buy | |
| 04/13/18 | DBS Vickers | Frasers Commercial Trust | 1.46 | 1.71 | Buy | DCF |
| 04/23/18 | CIMB | Frasers Commercial Trust | 1.46 | 1.5 | Hold | DDM |
| 04/23/18 | OCBC | Frasers Commercial Trust | 1.46 | 1.54 | Buy | |
| 04/23/18 | DMG & Partners | Frasers Commercial Trust | 1.46 | 1.49 | Neutral | DDM |
| 04/23/18 | DBS Vickers | Frasers Commercial Trust | 1.46 | 1.65 | Buy | DCF |
| 04/23/18 | Kim Eng | Frasers Commercial Trust | 1.46 | 2.55 | Buy | |
| 05/17/18 | DMG & Partners | Frasers Commercial Trust | 1.36 | 1.49 | Neutral | |
| 05/31/18 | DBS Vickers | Frasers Commercial Trust | 1.36 | 1.65 | Buy | |
| 07/02/18 | OCBC | Frasers Commercial Trust | 1.38 | 1.53 | Buy | |
| 07/11/18 | DBS Vickers | Frasers Commercial Trust | 1.39 | 1.65 | Buy | |
| 07/26/18 | CIMB | Frasers Commercial Trust | 1.46 | 1.5 | Hold | DDM |
| 08/02/18 | DBS Vickers | Frasers Commercial Trust | 1.42 | 1.65 | Buy | |
| 09/25/18 | DBS Vickers | Frasers Commercial Trust | 1.43 | 1.65 | Buy | DCF |
| 09/27/18 | OCBC | Frasers Commercial Trust | 1.45 | 1.53 | Buy | |
| 10/16/18 | DMG & Partners | Frasers Commercial Trust | 1.4 | 1.5 | Neutral | DDM |
| 10/19/18 | Lim & Tan | Frasers Commercial Trust | 1.41 | 0 | Hold | |
| 10/22/18 | DBS Vickers | Frasers Commercial Trust | 1.43 | 1.7 | Buy | DCF |
| 10/22/18 | OCBC | Frasers Commercial Trust | 1.43 | 1.56 | Buy | |
| 10/22/18 | CIMB | Frasers Commercial Trust | 1.43 | 1.5 | Hold | DDM |
| 12/11/18 | DMG & Partners | Frasers Commercial Trust | 1.39 | 1.43 | Neutral | |
| 01/18/19 | DBS Vickers | Frasers Commercial Trust | 1.47 | 1.7 | Buy | |
| 01/21/19 | OCBC | Frasers Commercial Trust | 1.45 | 1.56 | Buy | |
| 01/21/19 | CIMB | Frasers Commercial Trust | 1.45 | 1.5 | Hold | DDM |
| 01/21/19 | Lim & Tan | Frasers Commercial Trust | 1.45 | 0 | Hold |
Frasers Centrepoint Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/02/18 | Kim Eng | Frasers Centrepoint Trust | 2.24 | 2.45 | Buy | DDM |
| 01/05/18 | DMG & Partners | Frasers Centrepoint Trust | 2.29 | 2.24 | Neutral | |
| 01/15/18 | OCBC | Frasers Centrepoint Trust | 2.26 | 2.4 | Buy | |
| 01/24/18 | Phillip | Frasers Centrepoint Trust | 2.3 | 2.14 | Neutral | DDM, PB1.06x |
| 01/24/18 | UOB Kay Hian | Frasers Centrepoint Trust | 2.3 | 2.43 | Buy | DDM |
| 01/24/18 | Credit Suisse | Frasers Centrepoint Trust | 2.3 | 2.26 | Neutral | |
| 01/24/18 | OCBC | Frasers Centrepoint Trust | 2.3 | 2.49 | Buy | |
| 01/24/18 | CIMB | Frasers Centrepoint Trust | 2.3 | 2.41 | Add | DDM |
| 01/24/18 | Lim & Tan | Frasers Centrepoint Trust | 2.3 | 0 | Buy | |
| 01/24/18 | DBS Vickers | Frasers Centrepoint Trust | 2.3 | 2.48 | Buy | |
| 02/20/18 | DBS Vickers | Frasers Centrepoint Trust | 2.15 | 2.48 | Buy | |
| 03/06/18 | OCBC | Frasers Centrepoint Trust | 2.18 | 2.49 | Buy | |
| 04/12/18 | Kim Eng | Frasers Centrepoint Trust | 2.25 | 2.55 | Buy | |
| 04/13/18 | DBS Vickers | Frasers Centrepoint Trust | 2.24 | 2.48 | Buy | |
| 04/25/18 | OCBC | Frasers Centrepoint Trust | 2.22 | 2.49 | Buy | |
| 04/26/18 | Phillip | Frasers Centrepoint Trust | 2.21 | 2.14 | Neutral | DDM, PB1.06x |
| 04/26/18 | UOB Kay Hian | Frasers Centrepoint Trust | 2.21 | 2.43 | Buy | DDM |
| 04/26/18 | DBS Vickers | Frasers Centrepoint Trust | 2.21 | 2.45 | Buy | |
| 04/26/18 | CIMB | Frasers Centrepoint Trust | 2.21 | 2.41 | Add | DDM |
| 05/08/18 | DBS Vickers | Frasers Centrepoint Trust | 2.21 | 2.45 | Buy | |
| 05/17/18 | DMG & Partners | Frasers Centrepoint Trust | 2.16 | 2.24 | Neutral | |
| 05/23/18 | OCBC | Frasers Centrepoint Trust | 2.2 | 2.49 | Buy | |
| 06/26/18 | DBS Vickers | Frasers Centrepoint Trust | 2.17 | 2.45 | Buy | |
| 07/06/18 | DBS Vickers | Frasers Centrepoint Trust | 2.2 | 2.45 | Buy | |
| 07/25/18 | Kim Eng | Frasers Centrepoint Trust | 2.27 | 2.55 | Buy | DDM |
| 07/25/18 | UOB Kay Hian | Frasers Centrepoint Trust | 2.27 | 2.32 | Buy | DDM |
| 07/25/18 | OCBC | Frasers Centrepoint Trust | 2.27 | 2.49 | Buy | |
| 07/25/18 | CIMB | Frasers Centrepoint Trust | 2.27 | 2.41 | Add | DDM |
| 07/25/18 | Lim & Tan | Frasers Centrepoint Trust | 2.27 | 0 | Hold | |
| 07/27/18 | Phillip | Frasers Centrepoint Trust | 2.24 | 2.15 | Neutral | DDM, PB1.11x FY18 |
| 08/24/18 | DBS Vickers | Frasers Centrepoint Trust | 2.28 | 2.45 | Buy | |
| 09/04/18 | OCBC | Frasers Centrepoint Trust | 2.27 | 2.49 | Buy | |
| 09/05/18 | CIMB | Frasers Centrepoint Trust | 2.29 | 2.49 | Add | DDM |
| 10/10/18 | CIMB | Frasers Centrepoint Trust | 2.23 | 2.49 | Add | |
| 10/16/18 | DMG & Partners | Frasers Centrepoint Trust | 2.23 | 2.24 | Neutral | DDM |
| 10/17/18 | Phillip | Frasers Centrepoint Trust | 2.23 | 2.15 | Neutral | |
| 10/25/18 | OCBC | Frasers Centrepoint Trust | 2.23 | 2.5 | Buy | |
| 10/25/18 | UOB Kay Hian | Frasers Centrepoint Trust | 2.23 | 2.32 | Buy | DDM |
| 10/25/18 | DBS Vickers | Frasers Centrepoint Trust | 2.23 | 2.35 | Buy | |
| 10/25/18 | CIMB | Frasers Centrepoint Trust | 2.23 | 2.4 | Add | DDM |
| 10/25/18 | Lim & Tan | Frasers Centrepoint Trust | 2.23 | 0 | Hold | |
| 10/26/18 | DMG & Partners | Frasers Centrepoint Trust | 2.22 | 2.19 | Neutral | |
| 11/16/18 | CIMB | Frasers Centrepoint Trust | 2.15 | 2.35 | Add | DDM |
| 11/21/18 | Phillip | Frasers Centrepoint Trust | 2.15 | 2.21 | Neutral | |
| 11/29/18 | Kim Eng | Frasers Centrepoint Trust | 2.17 | 2.55 | Buy | |
| 12/03/18 | OCBC | Frasers Centrepoint Trust | 2.16 | 2.5 | Buy | |
| 12/11/18 | DMG & Partners | Frasers Centrepoint Trust | 2.17 | 2.19 | Neutral | |
| 01/17/19 | Kim Eng | Frasers Centrepoint Trust | 2.27 | 2.55 | Buy | DDM |
| 01/22/19 | Lim & Tan | Frasers Centrepoint Trust | 2.26 | 0 | Hold | |
| 01/22/19 | OCBC | Frasers Centrepoint Trust | 2.26 | 2.5 | Buy | |
| 01/23/19 | Phillip | Frasers Centrepoint Trust | 2.27 | 2.21 | Neutral | DDM, PB1.09x FY19 |
| 01/23/19 | DBS Vickers | Frasers Centrepoint Trust | 2.27 | 2.4 | Buy | |
| 01/28/19 | UOB Kay Hian | Frasers Centrepoint Trust | 2.29 | 2.32 | Buy | |
| 01/28/19 | CIMB | Frasers Centrepoint Trust | 2.29 | 2.35 | Add | DDM |
Fortune Reit - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/29/19 | DBS Vickers | Fortune Reit | 9.7 | 10.68 | Buy |
Stock calls for 30 January 2019
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/30/19 | Kim Eng | AEM | 0.905 | 1.21 | Buy | PB2.9x FY19/20, EV/Ebitda5.2x FY20 |
| 01/30/19 | OCBC | ART | 1.19 | 1.25 | Buy | |
| 01/30/19 | DBS Vickers | ART | 1.19 | 1.35 | buy | DCF |
| 01/30/19 | DBS Vickers | Ascendas Hospitality Trust | 0.835 | 0.98 | Buy | DCF |
| 01/30/19 | Kim Eng | Japfa | 0.81 | 0.99 | Buy | |
| 01/30/19 | Phillip | Micro-Mechanics | 1.67 | 1.7 | Accumulate | PER15x FY19 |
| 01/30/19 | DBS Vickers | OUE Hospitality | 0.695 | 0.85 | Buy | DCF |
| 01/30/19 | DBS Vickers | Parkway Life | 2.8 | 3.1 | Buy |
Tuesday, January 29, 2019
Food Empire - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/04/18 | DMG & Partners | Food Empire | 0.705 | 1 | Buy | PER12x FY18 |
| 02/20/18 | DMG & Partners | Food Empire | 0.67 | 1 | Buy | |
| 03/02/18 | DMG & Partners | Food Empire | 0.7 | 1.07 | Buy | PER18x FY18 |
| 05/14/18 | DMG & Partners | Food Empire | 0.67 | 1.07 | Buy | PER18x FY18 |
| 06/22/18 | DMG & Partners | Food Empire | 0.65 | 1.07 | Buy | |
| 08/15/18 | DMG & Partners | Food Empire | 0.56 | 0.6 | Neutral | PER14x FY18 |
| 11/19/18 | DMG & Partners | Food Empire | 0.54 | 0.66 | Buy | PER13x FY19 |
First Sponsor - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 02/09/18 | Lim & Tan | First Sponsor | 1.41 | 0 | Buy | |
| 07/24/18 | DBS Vickers | First Sponsor | 1.25 | 1.62 | Buy | |
| 11/01/18 | DBS Vickers | First Sponsor | 1.27 | 1.62 | Buy | RNAV (35% discount) |
First Ship Lease Trust (FSLT) - Stock calls
| Date | Analyst | Code | Company | Last | Target | Call | Percent | Valuation |
| 01/17/18 | Amfrasers | D8DU | First Ship Lease Trust | 0.093 | 0.15 | Buy | 61.29 |
Stock calls for 29 January 2019
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/29/19 | CIMB | DBS | 24.22 | 29 | Add | GGM, PB1.4x CY19 |
| 01/29/19 | DBS Vickers | Fortune Reit | 9.7 | 10.68 | Buy | |
| 01/29/19 | CIMB | Japfa | 0.82 | 0.9 | Add | Sum of parts |
| 01/29/19 | Amfrasers | Keppel Corp | 6.14 | 7.5 | Hold | |
| 01/29/19 | Macquarie | Keppel Corp | 6.14 | 8.2 | Outperform | Sum of parts |
| 01/29/19 | CIMB | M1 | 2.06 | 2.06 | Hold | Offer $2.06 |
| 01/29/19 | OCBC | Mapletree North Asia | 1.25 | 1.35 | Buy | |
| 01/29/19 | DBS Vickers | Mapletree North Asia | 1.25 | 1.45 | Buy | |
| 01/29/19 | phillip | SHS | 0.197 | 0.24 | Accumulate | PER10x FY19 |
| 01/29/19 | Amfrasers | Tuan Sing | 0.395 | 0.46 | Not Rated | RNAV (50% discount) |
| 01/29/19 | DMG & Partners | UOB | 25.83 | 29.8 | Buy | |
| 01/29/19 | CIMB | UOB | 25.83 | 32 | Add | GGM, PB1.4x CY19 |
The US earnings season has started but it will be bleak.
https://finance.yahoo.com/news/us-stocks-caterpillar-nvidia-warnings-194256045.html
The US chips sector is not doing well because of the chips slowdown. We warned about the western chips slowdown in October 2018.
http://sg-stock.blogspot.com/2018/10/the-global-semiconductor-slowdown-is.html
The US stock markets were at lofty valuations in 2018 because of their burgeoning China exposures. However, the recent US's assaults against China brought these companies' stock prices down. Without China's sales, these companies stock prices will crash fast and furious.
Micron, Qualcomm, Intel, Apple, Nvidia, Caterpillar, etc are all blaming the China slowdown for their poor business performances.
http://sg-stock.blogspot.com/2018/11/the-more-us-tries-to-hurt-china-more-it.html
China's economic growth is important to the world GDP because it constitutes 39% and any China slowdown will impact many companies.
http://sg-stock.blogspot.com/2018/10/china-gdp-was-growing-at-65-in-q3-2018.html
The US chips sector is not doing well because of the chips slowdown. We warned about the western chips slowdown in October 2018.
http://sg-stock.blogspot.com/2018/10/the-global-semiconductor-slowdown-is.html
The US stock markets were at lofty valuations in 2018 because of their burgeoning China exposures. However, the recent US's assaults against China brought these companies' stock prices down. Without China's sales, these companies stock prices will crash fast and furious.
Micron, Qualcomm, Intel, Apple, Nvidia, Caterpillar, etc are all blaming the China slowdown for their poor business performances.
http://sg-stock.blogspot.com/2018/11/the-more-us-tries-to-hurt-china-more-it.html
China's economic growth is important to the world GDP because it constitutes 39% and any China slowdown will impact many companies.
http://sg-stock.blogspot.com/2018/10/china-gdp-was-growing-at-65-in-q3-2018.html
US charges Huawei formally!
https://finance.yahoo.com/news/u-charges-chinas-huawei-bank-010518918.html
This is not surprising and unexpected because the US cannot compete with Huawei without transgressing on Huawei's patents. Therefore, it can only continue on its assault against Huawei by banning it.
http://sg-stock.blogspot.com/2019/01/the-real-reason-behind-ban-of-huaweis-5g.html
Furthermore, the US commerce secretary had indicated that there would not be any US-China trade deal as the 2 countries were miles apart.
http://sg-stock.blogspot.com/2019/01/us-commerce-secretary-no-us-china-trade.html
Therefore, the US justice department went ahead to charge Huawei by imposing its own US laws internationally. The charge is a violation of US sanction, not a UN sanction.
This is not surprising and unexpected because the US cannot compete with Huawei without transgressing on Huawei's patents. Therefore, it can only continue on its assault against Huawei by banning it.
http://sg-stock.blogspot.com/2019/01/the-real-reason-behind-ban-of-huaweis-5g.html
Furthermore, the US commerce secretary had indicated that there would not be any US-China trade deal as the 2 countries were miles apart.
http://sg-stock.blogspot.com/2019/01/us-commerce-secretary-no-us-china-trade.html
Therefore, the US justice department went ahead to charge Huawei by imposing its own US laws internationally. The charge is a violation of US sanction, not a UN sanction.
Monday, January 28, 2019
First Resources - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/04/18 | CIMB | First Resources | 1.88 | 2.13 | Add | |
| 01/15/18 | DBS Vickers | First Resources | 1.87 | 2.18 | Buy | |
| 02/08/18 | UOB Kay Hian | First Resources | 1.84 | 1.95 | Hold | PER16x FY18x, Buy @ $1.75 |
| 02/13/18 | Kim Eng | First Resources | 1.75 | 2.04 | Hold | |
| 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 |
| 02/28/18 | 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 | |
| 03/05/18 | Kim Eng | First Resources | 1.76 | 2.2 | Buy | |
| 03/07/18 | UOB Kay Hian | First Resources | 1.76 | 1.95 | Hold | PER16x FY18 |
| 03/14/18 | DBS Vickers | First Resources | 1.75 | 2.18 | Buy | |
| 04/03/18 | DBS Vickers | First Resources | 1.68 | 2.18 | Buy | |
| 05/07/18 | UOB Kay Hian | First Resources | 1.69 | 1.6 | Hold | PER13x FY18, Buy @ $1.40 |
| 05/15/18 | CIMB | First Resources | 1.61 | 2.03 | Add | PER15x CY19 |
| 05/15/18 | DMG & Partners | First Resources | 1.61 | 1.75 | Neutral | PER12x FY18 |
| 05/16/18 | DMG & Partners | First Resources | 1.56 | 1.6 | Neutral | PER12x FY18 |
| 05/16/18 | DBS Vickers | First Resources | 1.56 | 2.18 | Buy | |
| 06/21/18 | UOB Kay Hian | First Resources | 1.55 | 1.6 | Hold | |
| 07/03/18 | DBS Vickers | First Resources | 1.55 | 2 | Buy | DCF |
| 07/11/18 | Kim Eng | First Resources | 1.55 | 2 | Buy | |
| 08/02/18 | UOB Kay Hian | First Resources | 1.62 | 1.6 | Hold | PER13x FY18, Buy @ $1.40 |
| 08/14/18 | Kim Eng | First Resources | 1.56 | 2 | Buy | |
| 08/14/18 | DMG & Partners | First Resources | 1.56 | 1.6 | Neutral | PER11x FY19 |
| 08/14/18 | CIMB | First Resources | 1.56 | 2.03 | Add | PER15x CY19 |
| 08/16/18 | DBS Vickers | First Resources | 1.59 | 2 | Buy | DCF |
| 09/13/18 | Kim Eng | First Resources | 1.67 | 2 | Buy | |
| 09/13/18 | DBS Vickers | First Resources | 1.67 | 2 | Buy | |
| 10/08/18 | UOB Kay Hian | First Resources | 1.67 | 1.6 | Hold | |
| 10/11/18 | DBS Vickers | First Resources | 1.68 | 1.97 | Buy | DCF |
| 10/11/18 | Kim Eng | First Resources | 1.68 | 2 | Buy | |
| 11/12/18 | UOB Kay Hian | First Resources | 1.6 | 1.6 | Hold | PER13x FY18, Buy @ $1.40 |
| 11/12/18 | DMG & Partners | First Resources | 1.6 | 1.6 | Neutral | PER11x FY19 |
| 11/12/18 | Kim Eng | First Resources | 1.6 | 2 | Buy | PER17x FY18 |
| 11/13/18 | DBS Vickers | First Resources | 1.56 | 1.97 | Buy | DCF |
| 11/13/18 | CIMB | First Resources | 1.56 | 2.08 | Add | PER15x FY19 |
| 01/03/19 | UOB Kay Hian | First Resources | 1.56 | 1.6 | Hold |
First Reit - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/18/18 | Lim & Tan | First Reit | 1.4 | 0 | Hold | |
| 01/19/18 | CIMB | First Reit | 1.41 | 1.44 | Hold | DDM |
| 01/19/18 | OCBC | First Reit | 1.41 | 1.48 | Buy | |
| 01/23/18 | phillip | First Reit | 1.42 | 1.32 | Neutral | DDM |
| 04/18/18 | CIMB | First Reit | 1.37 | 1.44 | Hold | DDM |
| 04/19/18 | phillip | First Reit | 1.37 | 1.31 | Neutral | PB1.19x FY18 |
| 04/19/18 | OCBC | First Reit | 1.37 | 1.48 | Buy | |
| 05/25/18 | OCBC | First Reit | 1.35 | 1.48 | Buy | |
| 07/19/18 | phillip | First Reit | 1.32 | 1.31 | Neutral | DDM, PB1.21x |
| 07/19/18 | OCBC | First Reit | 1.32 | 1.34 | Hold | |
| 07/19/18 | CIMB | First Reit | 1.32 | 1.41 | Hold | DDM |
| 09/19/18 | phillip | First Reit | 1.24 | 1.31 | Neutral | DDM, PB1.2x FY18 |
| 10/17/18 | phillip | First Reit | 1.18 | 1.3 | Neutral | DDM, PB1.2x FY18 |
| 10/17/18 | CIMB | First Reit | 1.18 | 1.36 | Add | DDM |
| 11/21/18 | phillip | First Reit | 0.975 | 1.3 | Neutral | |
| 12/13/18 | OCBC | First Reit | 1.04 | 1.05 | Buy | |
| 01/16/19 | phillip | First Reit | 1.04 | 0.88 | Neutral | DDM |
| 01/17/19 | Lim & Tan | First Reit | 1.03 | 0 | Neutral | |
| 01/18/19 | OCBC | First Reit | 1.01 | 0.97 | Hold | |
| 01/18/19 | CIMB | First Reit | 1.01 | 1.2 | Add | DDM |
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