Roxy-Pacific - Stock calls

 

Date	Analyst	Company	Last	Target	Call	Valuation
07/15/19	OCBC	Roxy-Pacific	0.385	0.41	Hold
08/05/19	DBS Vickers	Roxy-Pacific	0.39	0.39	Hold	RNAV (55% discount)

Riverstone - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/13/19	DBS Vickers	Riverstone	0.9	1.16	Buy	PER14.5x FY20
11/11/19	CIMB	Riverstone	0.985	1.25	Add
11/11/19	DBS Vickers	Riverstone	0.985	1.16	Buy	PER14.5x FY20
02/27/20	CIMB	Riverstone	1.05	1.3	Add
02/27/20	DBS Vickers	Riverstone	1.05	1.34	Buy	PER20x FY20
05/08/20	UOB Kay Hian	Riverstone	1.21	1.46	Buy	PER22x FY20
05/13/20	UOB Kay Hian	Riverstone	1.62	2.15	Buy	PER23.7x FY20
05/13/20	DBS Vickers	Riverstone	1.62	2.2	Buy	PER26x FY20
05/14/20	CIMB	Riverstone	1.84	1.86	Add	PER19.3x CY21
05/22/20	CIMB	Riverstone	1.94	2.5	Add	PER22.7x CY21
05/26/20	UOB Kay Hian	Riverstone	1.87	2.53	Buy	PER23.1x FY20
06/03/20	DBS Vickers	Riverstone	2.24	3.09	Buy	PER28x FY20
06/12/20	CIMB	Riverstone	2.25	3.12	Add	PER22.7x CY21
06/17/20	UOB Kay Hian	Riverstone	2.37	3.15	Buy	PER23.1x FY20
07/07/20	UOB Kay Hian	Riverstone	2.93	3.6	Buy	PER23.1x FY20
07/09/20	CIMB	Riverstone	3.3	3.9	Add
07/15/20	DBS Vickers	Riverstone	3.1	3.9	Buy	PER24x FY20
08/06/20	DBS Vickers	Riverstone	4.21	5.51	Buy	PER28.4x FY21
08/07/20	UOB Kay Hian	Riverstone	4.53	6	Buy	PER23.2x FY21
08/07/20	CIMB	Riverstone	4.53	5.55	Add

Rex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/12/19	UOB Kay Hian	Rex	0.167	0.218	Buy	Sum of parts, PB1.1x FY20
03/05/20	UOB Kay Hian	Rex	0.184	0.27	Buy	Sum of parts
07/22/20	UOB Kay Hian	Rex	0.188	0.3	Buy	Sum of parts

Stock calls for 31 August 2020

Date	Analyst	Company	Last	Target	Call	Valuation
08/31/20	Kim Eng	A-Reit	3.31	4	Buy
08/31/20	CIMB	Avi-Tech	0.43	0.492	Add
08/31/20	UOB Kay Hian	Avi-Tech	0.43	0.495	Buy
08/31/20	phillip	Clearbridge	0.171	0.26	Buy	DCF
08/31/20	CIMB	Frencken	0.94	1.06	Add	PER10x FY21
08/31/20	CIMB	Ifast Corp	2.37	2.44	Hold	Sum of parts
08/31/20	DBS Vickers	Lendlease Reit	0.64	0.85	Buy	PB1x FY21
08/31/20	DBS Vickers	Mapletree Commercial	1.93	2.25	Buy
08/31/20	Kim Eng	Mapletree Industrial	3.04	3.4	Buy
08/31/20	Kim Eng	Mapletree Logistics	2.06	2.4	Buy
08/31/20	Lim & Tan	Micro-Mechanics	2.07	0	Buy on weakness
08/31/20	CIMB	Penguin	0.435	0.55	Add	PB0.7x FY20
08/31/20	DBS Vickers	SPH	1.09	1.26	Hold
08/31/20	Lim & Tan	Wing Tai	1.71	0	Buy

How to interpret the latest US FED's speech?

 The US FED had dropped its target inflation rate of 2%.  What does this signify?

This signifies that the US FED is facing a conundrum.  The US FED is feeling the colossal debt stress that it has to create inflation but cannot allow the rising inflation to affect its stimulative monetary policies.  Therefore, the US FED is changing its stance so that its stimulative monetary policies can continue to boost the US sagging economic growth.

Please read below to understand more about inflation.

http://sg-stock.blogspot.com/2019/06/china-has-started-to-sell-us-treasuries.html

Huge US layoffs are coming!

 https://sg.finance.yahoo.com/news/this-week-in-trumponomics-here-come-the-big-layoffs-175303663.html

American airlines - 19,000 layoffs

Delta airline - 1,900 layoffs

MGM - 18,000 layoffs

Coca Cola - 4,000 layoffs

Salesforce - 1,000 layoffs

If the economic downturn is only temporary, the US companies won't lay off so many employees.

Another racial killing by the US police.

 

The US police have committed another racial killing after George Floyd.

Where are the international human rights groups? Why are they so quiet now?

The human rights groups accused HK police of human rights violation but they kept quiet about the brutal racial killing by the US police. Sigh!

Shame on those international human rights groups!

Raffles Medical - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/30/19	UOB Kay Hian	Raffles Medical	1.03	1.27	Buy	DCF
07/30/19	DMG & Partners	Raffles Medical	1.03	1.02	Neutral
07/30/19	DBS Vickers	Raffles Medical	1.03	1.12	Hold	Sum of parts
07/31/19	phillip	Raffles Medical	1.04	1.09	Neutral	DCF
07/31/19	Kim Eng	Raffles Medical	1.04	1.05	Hold	DCF
07/31/19	OCBC	Raffles Medical	1.04	1.06	Hold
10/30/19	DMG & Partners	Raffles Medical	1	1.02	Neutral	DCF
10/30/19	CIMB	Raffles Medical	1	1.16	Add	Sum of parts
10/30/19	UOB Kay Hian	Raffles Medical	1	1.27	Buy	DCF
10/30/19	DBS Vickers	Raffles Medical	1	1.12	Hold
11/05/19	phillip	Raffles Medical	1	1.05	Neutral	DCF
11/05/19	Kim Eng	Raffles Medical	1	1.07	Hold	DCF
11/05/19	OCBC	Raffles Medical	1	1.02	Hold
02/25/20	DMG & Partners	Raffles Medical	1.02	0.96	Neutral	DCF
02/25/20	UOB Kay Hian	Raffles Medical	1.02	1.21	Buy	DCF
02/25/20	DBS Vickers	Raffles Medical	1.02	1.1	Hold	Sum of parts
02/25/20	Kim Eng	Raffles Medical	1.02	1.06	Hold	DCF
02/25/20	CIMB	Raffles Medical	1.02	1.16	Add
02/26/20	phillip	Raffles Medical	1.01	0.99	Neutral	DCF
03/25/20	CIMB	Raffles Medical	0.745	0.98	Add	Sum of parts
04/28/20	DMG & Partners	Raffles Medical	0.87	0.93	Neutral	DCF
04/28/20	UOB Kay Hian	Raffles Medical	0.87	1.11	Buy	DCF
04/28/20	OCBC	Raffles Medical	0.87	1.02	Buy
04/29/20	Kim Eng	Raffles Medical	0.87	0.99	Buy	DCF
04/29/20	DBS Vickers	Raffles Medical	0.87	0.96	Hold	Sum of parts
07/28/20	DMG & Partners	Raffles Medical	0.92	0.91	Neutral	DCF
07/28/20	UOB Kay Hian	Raffles Medical	0.92	1.07	Buy	DCF
07/28/20	CIMB	Raffles Medical	0.92	0.96	Hold
07/28/20	Kim Eng	Raffles Medical	0.92	0.99	Hold	DCF
07/28/20	OCBC	Raffles Medical	0.92	0.96	Hold
07/28/20	DBS Vickers	Raffles Medical	0.92	0.95	Hold	Sum of parts
07/28/20	Lim & Tan	Raffles Medical	0.92	0	Hold
07/29/20	phillip	Raffles Medical	0.92	0.94	Neutral	DCF

Propnex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/16/19	UOB Kay Hian	Propnex	0.505	0.5	Hold
08/19/19	phillip	Propnex	0.5	0.59	Buy	DCF
10/11/19	phillip	Propnex	0.49	0.59	Buy
10/14/19	UOB Kay Hian	Propnex	0.49	0.56	Buy	PER12x FY20
11/15/19	UOB Kay Hian	Propnex	0.525	0.62	Buy	PER12x FY20
11/18/19	phillip	Propnex	0.515	0.59	Buy	DCF
11/25/19	CIMB	Propnex	0.515	0.68	Add
02/21/20	Lim & Tan	Propnex	0.53	0.68	Buy
02/28/20	CIMB	Propnex	0.555	0.7	Add	DCF
02/28/20	UOB Kay Hian	Propnex	0.555	0.68	Buy
03/02/20	phillip	Propnex	0.545	0.7	Buy	DCF
03/06/20	UOB Kay Hian	Propnex	0.555	0.68	Buy
03/10/20	Lim & Tan	Propnex	0.515	0.68	Buy
05/15/20	Lim & Tan	Propnex	0.485	0	Buy
05/19/20	UOB Kay Hian	Propnex	0.5	0.65	Buy
05/19/20	CIMB	Propnex	0.5	0.625	Add
05/20/20	phillip	Propnex	0.495	0.6	Buy	DCF
08/14/20	UOB Kay Hian	Propnex	0.585	0.69	Buy
08/17/20	phillip	Propnex	0.59	0.7	Buy	DCF
08/19/20	CIMB	Propnex	0.6	0.708	Add

Perennial Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/21/20	DBS Vickers	Perennial Reit	0.52	0.83	Buy	RNAV (55% discount)
05/08/20	DBS Vickers	Perennial Reit	0.5	0.83	Buy
06/16/20	CIMB	Perennial Reit	0.94	0.994	Accept offer	Offer $0.95
11/05/19	DBS Vickers	Prime US Reit	0.94	1.05	Buy	DCF
02/13/20	Kim Eng	Prime US Reit	1.02	1.1	Buy	DDM
03/06/20	DBS Vickers	Prime US Reit	0.995	1.05	Buy	DCF
06/24/20	DBS Vickers	Prime US Reit	0.805	1	Buy
07/20/20	phillip	Prime US Reit	0.765	0.88	Buy	DDM
08/11/20	phillip	Prime US Reit	0.815	0.94	Buy	DDM

Stock calls for 28 August 2020

Date	Analyst	Company	Last	Target	Call	Valuation
08/28/20	Macquarie	A-Reit	3.3	4	Outperform
08/28/20	Lim & Tan	BRC Asia	1.12	1.25	Hold	DCF
08/28/20	DMG & Partners	Dairy Farm	4.27	4.47	Neutral
08/28/20	Lim & Tan	Ellipsiz	0.33	0	Hold
08/28/20	DMG & Partners	Japan Foods	0.33	0.33	Neutral
08/28/20	DMG & Partners	Jumbo	0.345	0.19	Sell
08/28/20	DMG & Partners	Kimly	0.255	0.26	Buy
08/28/20	DBS Vickers	Silverlake	0.3	0.4	Buy	PER17.6x FY21

Penguin - Stock calls

 

Date	Analyst	Company	Last	Target	Call	Valuation
08/07/19	phillip	Penguin	0.495	0.61	Buy	PER5x FY19 (ex-cash)
10/09/19	UOB Kay Hian	Penguin	0.62	0.85	Buy	PER7.6x FY2020
11/08/19	CIMB	Penguin	0.66	0.81	Add	PB1x FY20
11/08/19	UOB Kay Hian	Penguin	0.66	0.85	Buy
11/11/19	phillip	Penguin	0.7	0.93	Buy	PER5x FY20 (ex-cash)
12/06/19	UOB Kay Hian	Penguin	0.725	0.85	Buy
02/26/20	CIMB	Penguin	0.71	0.82	Add	PB1x FY20
02/26/20	UOB Kay Hian	Penguin	0.71	0.85	Buy
02/27/20	phillip	Penguin	0.675	0.88	Buy	PER5x FY20 (ex-cash)
04/15/20	Lim & Tan	Penguin	0.495	0.7	Buy	PB1x
06/01/20	Lim & Tan	Penguin	0.5	0	Buy
06/03/20	phillip	Penguin	0.525	0.55	Accumulate	PB0.7x FY20
06/10/20	UOB Kay Hian	Penguin	0.52	0.6	Buy
06/18/20	CIMB	Penguin	0.49	0.55	Add
08/12/20	UOB Kay Hian	Penguin	0.43	0.42	Hold	Buy @ $0.34

Parkway Life - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/31/19	Lim & Tan	Parkway Life	3.06	0	Hold
08/01/19	UOB Kay Hian	Parkway Life	3.06	3.25	Buy
08/01/19	DBS Vickers	Parkway Life	3.06	3.35	Buy
10/31/19	Lim & Tan	Parkway Life	3.24	0	Hold
11/01/19	UOB Kay Hian	Parkway Life	3.27	3.58	Buy	DDM
11/01/19	CIMB	Parkway Life	3.27	3.26	Hold
01/22/20	Lim & Tan	Parkway Life	3.4	0	Hold
01/29/20	UOB Kay Hian	Parkway Life	3.6	3.78	Buy	DDM
02/13/20	DBS Vickers	Parkway Life	3.56	4	Buy	DCF
04/23/20	UOB Kay Hian	Parkway Life	3.34	3.78	Buy	DDM
04/23/20	CIMB	Parkway Life	3.34	3.38	Hold	DDM
04/27/20	Lim & Tan	Parkway Life	3.31	0	Hold
07/29/20	UOB Kay Hian	Parkway Life	3.44	3.8	Buy	DDM
07/29/20	Lim & Tan	Parkway Life	3.44	0	Hold
07/30/20	CIMB	Parkway Life	3.44	3.43	Hold

Pan-United - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/28/20	Lim & Tan	PanUnited	0.375	0	Buy on weakness
02/11/20	Lim & Tan	PanUnited	0.365	0.56	Buy	PB2x FY21
04/06/20	Lim & Tan	PanUnited	0.27	0	Hold
06/18/20	Lim & Tan	PanUnited	0.31	0	Buy
06/23/20	Lim & Tan	PanUnited	0.315	0	Hold
08/04/20	Lim & Tan	PanUnited	0.29	0.31	Hold	PB1x FY20

Stock calls for 27 August 2020

Date	Analyst	Company	Last	Target	Call	Valuation
08/27/20	Amfrasers	Accordia Golf Trust	0.745	0.75	Accept offer
08/27/20	Amfrasers	Comfortdelgro	1.46	1.63	Outperform
08/27/20	Lim & Tan	GL Ltd	0.555	0	Hold
08/27/20	UOB Kay Hian	Marco Polo	0.016	0.02	Buy
08/27/20	CIMB	Silverlake	0.305	0.39	Add	PER16.3x CY21

A big resurgence of covid-19 outbreak may happen in the US soon. Why?

https://finance.yahoo.com/news/oil-price-fundamental-daily-forecast-121016514.html

https://www.france24.com/en/20200824-twin-storms-head-for-the-us-after-deadly-rampage-through-haiti-dominican-republic

The US is getting hit by twin hurricanes (Marco & Laura) and the US meteorologists have not seen such weather phenomenon for the past 150 years.  The usual pattern is that one hurricane will weaken while the other hurricane will strengthen over time.  The worst case is that the 2 hurricanes will combine into a super hurricane (Cat 5) and will become very destructive.

As for now, Marco is weakening and Laura will be upgraded to a Cat 4 hurricane.  Thus, hundreds of thousands of Americans in the affected areas will be evacuated and put into shelters.  This large sheltering will hugely increase the probability of spreading the COVID-19 virus.

We had already stated this possibility in our projection below.

http://sg-stock.blogspot.com/2020/08/another-constellation-is-aligning-and.html 

Covid-19 immunity can only last about 4 months!

https://sg.news.yahoo.com/dutch-belgian-patients-infected-coronavirus-062212465.html

Many recent reinfection cases are showing that COVID-19 immunity can only last about 4 months.  Furthermore, there are different COVID variants now and we can get reinfected by other variants after our immunity period.

We cannot be taking COVID vaccinations regularly if the vaccine can only last a few months.  What we need is a better treatment plan and medication to recover from this virus.

Huawei court trial shows that we cannot get a fair trial in Canada.

https://sg.finance.yahoo.com/news/canada-court-blocks-release-more-201154179.html

How did a so-called "bank fraud" in HK become a national security issue in Canada?  It is very obvious that Canada has committed a judiciary error in detaining Meng during her transit in Canada.  Therefore, the Canadian court cannot release more information.

How can Meng get a fair trial in this way?  A HK bank fraud will never become national security in Canada no matter how we look at it.

Furthermore, the recent HSBC's email correspondences showed that HSBC knew the exact relationship between Huawei and Iran.

http://sg-stock.blogspot.com/2020/07/latest-canadian-court-disclosure-showed.html

PACC Offshore - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/08/19	DBS Vickers	PACC Offshore	0.145	0.15	Hold	PB0.6x
11/07/19	DBS Vickers	PACC Offshore	0.21	0.22	Hold	PB1x FY19

Oxley - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/11/19	DMG & Partners	Oxley	0.31	0.41	Buy
09/24/19	DMG & Partners	Oxley	0.305	0.43	Buy	RNAV (45% discount)
09/25/19	UOB Kay Hian	Oxley	0.31	0.64	Buy	RNAV (30% discount)
10/02/19	DMG & Partners	Oxley	0.32	0.43	Buy
10/15/19	DMG & Partners	Oxley	0.325	0.43	Buy	RNAV (45% discount)
10/29/19	UOB Kay Hian	Oxley	0.34	0.5	Buy	RNAV (30% discount)
11/14/19	DMG & Partners	Oxley	0.345	0.43	Buy	RNAV (45% discount)
12/16/19	DMG & Partners	Oxley	0.35	0.43	Buy	RNAV (45% discount)
01/08/20	DMG & Partners	Oxley	0.375	0.43	Buy
02/11/20	UOB Kay Hian	Oxley	0.34	0.49	Buy
02/12/20	DMG & Partners	Oxley	0.34	0.42	Buy	RNAV (45% discount)
03/27/20	DMG & Partners	Oxley	0.22	0.36	Buy	RNAV (55% discount)
04/07/20	DMG & Partners	Oxley	0.199	0.36	Buy
04/13/20	UOB Kay Hian	Oxley	0.225	0.48	Buy	RNAV (30% discount)
04/13/20	DMG & Partners	Oxley	0.225	0.31	Buy	RNAV (55% discount)
05/27/20	DMG & Partners	Oxley	0.23	0.29	Buy	RNAV (55% discount)
07/14/20	DMG & Partners	Oxley	0.235	0.29	Buy

Overseas Education - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/19/19	UOB Kay Hian	Overseas Edu	0.285	0.46	Buy
09/11/19	Lim & Tan	Overseas Edu	0.29	0	Buy
11/12/19	UOB Kay Hian	Overseas Edu	0.285	0.46	Buy
12/19/19	Lim & Tan	Overseas Edu	0.32	0	Buy
02/17/20	Lim & Tan	Overseas Edu	0.365	0	Buy
02/18/20	UOB Kay Hian	Overseas Edu	0.365	0.49	Buy
06/18/20	Lim & Tan	Overseas Edu	0.32	0	Buy on weakness
08/17/20	Lim & Tan	Overseas Edu	0.29	0	Buy

Stock calls for 26 August 2020

Date	Analyst	Company	Last	Target	Call	Valuation
08/26/20	Amfrasers	Avarga	0.215	0.43	Unrated	PER10x FY20
08/26/20	UOB Kay Hian	Far East Hospitality	0.52	0.58	Buy
08/26/20	UOB Kay Hian	Frasers Hospitality Trust	0.44	0.54	Buy
08/26/20	DMG & Partners	SGX	8.63	9.5	Buy	PER24x FY21
08/26/20	Amfrasers	Uni-Asia	0.45	0.54	Neutral
08/26/20	DMG & Partners	Venture	20.21	20.2	Neutral	PER17x FY21

OUE Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/04/19	DMG & Partners	OUE Hospitality	0.72	0.76	Take Profit

OUE Commercial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/04/19	DBS Vickers	OUE Commercial	0.54	0.59	Buy
10/04/19	CIMB	OUE Commercial	0.54	0.61	Hold
11/15/19	DBS Vickers	OUE Commercial	0.54	0.6	Buy	DCF
11/19/19	OCBC	OUE Commercial	0.545	0.535	Hold
11/19/19	CIMB	OUE Commercial	0.545	0.57	Hold	DDM
12/04/19	DBS Vickers	OUE Commercial	0.56	0.6	Buy
02/03/20	OCBC	OUE Commercial	0.545	0.55	Hold
02/03/20	DBS Vickers	OUE Commercial	0.545	0.6	Buy	DCF
02/13/20	CIMB	OUE Commercial	0.525	0.53	Hold	DDM
03/30/20	DBS Vickers	OUE Commercial	0.335	0.6	Buy
03/30/20	OCBC	OUE Commercial	0.335	0.4	Hold
06/08/20	DBS Vickers	OUE Commercial	0.4	0.5	Buy	DCF
06/08/20	CIMB	OUE Commercial	0.4	0.482	Hold
07/27/20	Lim & Tan	OUE Commercial	0.395	0	Buy on weakness
07/28/20	CIMB	OUE Commercial	0.39	0.482	Hold
08/04/20	OCBC	OUE Commercial	0.37	0.39	Hold