City Developments - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/16	UOB Kay Hian	City Developments	7.65	10.86	Buy
01/08/16	DBS Vickers	City Developments	7.42	10.26	Buy	RNAV (20% discount)
01/14/16	Credit Suisse	City Developments	7.55	12	Outperform
01/14/16	Kim Eng	City Developments	7.55	9.33	Buy	RNAV (30% discount), PB1x
01/18/16	CIMB	City Developments	7.29	10.3	Add
01/26/16	Deutsche	City Developments	6.76	9.25	Buy
02/16/16	Credit Suisse	City Developments	6.88	12	Outperform
02/25/16	Deutsche	City Developments	7.04	9.25	Buy	RNAV (30% discount)
02/25/16	Lim & Tan	City Developments	7.04	9.7	Buy	Bloomberg consensus
02/26/16	CIMB	City Developments	7.09	10.32	Add	RNAV (25% discount)
02/26/16	DBS Vickers	City Developments	7.09	10.26	Buy	RNAV (20% discount)
02/26/16	DMG & Partners	City Developments	7.09	9.22	Buy
02/26/16	DMG & Partners	City Developments	7.09	9.22	Buy	RNAV (30% discount)
02/26/16	Kim Eng	City Developments	7.09	9.33	Buy	RNAV (20% discount)
02/26/16	UOB Kay Hian	City Developments	7.09	10.86	Buy	RNAV (20% discount)
02/29/16	OCBC	City Developments	7.2	8.67	Buy
03/08/16	Deutsche	City Developments	7.7	9	Buy	RNAV (41.6 discount)
03/10/16	Kim Eng	City Developments	7.51	9.04	Buy	RNAV (20% discount)
03/15/16	CIMB	City Developments	7.58	10.32	Add
03/16/16	DBS Vickers	City Developments	7.5	10.26	Buy
03/28/16	DMG & Partners	City Developments	7.75	9.22	Buy
03/28/16	UOB Kay Hian	City Developments	7.75	10.86	Buy	RNAV (20% discount)
04/04/16	Kim Eng	City Developments	8.15	9.04	Buy
04/18/16	CIMB	City Developments	8.82	10.32	Add
04/18/16	DBS Vickers	City Developments	8.82	10.26	Buy
04/20/16	Kim Eng	City Developments	8.85	9.84	Buy	RNAV (20% discount)
04/22/16	UOB Kay Hian	City Developments	9.06	10.86	Buy
04/25/16	Credit Suisse	City Developments	8.97	12	Outperform
04/26/16	OCBC	City Developments	8.71	9.89	Buy
05/04/16	DIR	City Developments	8.21	11.22	Buy	RNAV (20% discount)
05/12/16	CIMB	City Developments	8.04	10.32	Add	RNAV (25% discount)
05/12/16	Credit Suisse	City Developments	8.04	11.7	Buy	RNAV (20% discount)
05/12/16	DBS Vickers	City Developments	8.04	9.6	Buy	RNAV (20% discount)
05/12/16	DMG & Partners	City Developments	8.04	9.35	Buy
05/12/16	Kim Eng	City Developments	8.04	9.82	Buy
05/12/16	OCBC	City Developments	8.04	9.89	Buy
05/12/16	UOB Kay Hian	City Developments	8.04	10.86	Buy	RNAV (20% discount)
05/30/16	DIR	City Developments	8.35	11.17	Buy	Sum of parts (20% discount)
05/30/16	Lim & Tan	City Developments	8.35	0	Buy
05/30/16	UBS	City Developments	8.35	10.05	Buy
06/03/16	DBS Vickers	City Developments	8.45	9.6	Buy
06/08/16	UOB Kay Hian	City Developments	9	10.86	Buy
06/09/16	CIMB	City Developments	8.85	10.32	Add
06/09/16	Kim Eng	City Developments	8.85	9.82	Buy
06/10/16	Deutsche	City Developments	8.8	9	Buy
06/15/16	UOB Kay Hian	City Developments	8.65	10.36	Buy
06/17/16	DBS Vickers	City Developments	8.8	9.6	Buy
06/27/16	DMG & Partners	City Developments	8.31	9.04	Buy	RNAV (30% discount)
06/30/16	Kim Eng	City Developments	8.2	8.92	Hold	RNAV (20% discount)
07/05/16	OCBC	City Developments	8.12	9.89	Buy
07/07/16	Credit Suisse	City Developments	8.11	11.7	Outperform
07/07/16	DIR	City Developments	8.11	11.21	Buy	Sum of parts (20% discount)
07/07/16	Kim Eng	City Developments	8.11	9.17	Hold	RNAV (20% discount)
07/07/16	UOB Kay Hian	City Developments	8.11	10.36	Buy
07/08/16	CIMB	City Developments	8.04	10.3	Add	RNAV (25% discount)
07/12/16	Deutsche	City Developments	8.14	9.3	Buy
08/01/16	DIR	City Developments	8.51	10.93	Buy	RNAV (20% discount)
08/11/16	Lim & Tan	City Developments	8.89	0	Buy
08/11/16	JP Morgan	City Developments	8.89	10.8	Overweight	Up from $9.90
08/12/16	CIMB	City Developments	8.87	10.38	Add	RNAV (25% discount)
08/12/16	Credit Suisse	City Developments	8.87	11.5	Outperform
08/12/16	DIR	City Developments	8.87	10.82	Buy	RNAV (20% discount)
08/12/16	DMG & Partners	City Developments	8.87	9.04	Take Profit
08/12/16	UOB Kay Hian	City Developments	8.87	10.36	Buy	RNAV (20% discount)
08/15/16	DBS Vickers	City Developments	8.8	9.9	Buy	RNAV (20% discount)
09/02/16	Credit Suisse	City Developments	8.52	11.5	Outperform
09/02/16	Deutsche	City Developments	8.52	9.8	Buy
09/02/16	OCBC	City Developments	8.52	9.89	Buy
09/09/16	DIR	City Developments	9.11	10.82	Buy	RNAV (20% discount)
09/09/16	Kim Eng	City Developments	9.11	9.17	Hold
09/16/16	CIMB	City Developments	8.7	10.38	Add
09/16/16	DBS Vickers	City Developments	8.7	9.9	Buy
09/23/16	Kim Eng	City Developments	8.96	9.43	Hold	RNAV (20% discount)
10/04/16	Credit Suisse	City Developments	8.98	11.5	Outperform
10/05/16	Kim Eng	City Developments	9.04	9.43	Hold
10/18/16	CIMB	City Developments	8.78	10.38	Add
10/18/16	DBS Vickers	City Developments	8.78	9.9	Buy
10/19/16	DIR	City Developments	8.77	10.84	Buy	Sum of parts (20% discount)
10/21/16	Kim Eng	City Developments	8.78	9.42	Hold
10/24/16	CIMB	City Developments	8.77	10.4	Add	RNAV (25% discount)
10/24/16	DIR	City Developments	8.77	10.8	Buy	Sum of parts (20% discount)
10/24/16	Lim & Tan	City Developments	8.77	0	Buy
10/24/16	phillip	City Developments	8.77	9.98	Accumulate	RNAV (20% discount)
10/24/16	UOB Kay Hian	City Developments	8.77	10.36	Buy	RNAV (20% discount)
11/01/16	Credit Suisse	City Developments	8.49	11.5	Outperform
11/11/16	CIMB	City Developments	8.6	10.4	Add	RNAV (25% discount)
11/11/16	Credit Suisse	City Developments	8.6	11.3	Outperform
11/11/16	DBS Vickers	City Developments	8.6	9.9	Buy	RNAV (20% discount)
11/11/16	DIR	City Developments	8.6	10.75	Buy	RNAV (20% discount)
11/11/16	DMG & Partners	City Developments	8.6	9.36	Buy	RNAV (30% discount)
11/11/16	Kim Eng	City Developments	8.6	9.42	Hold	RNAV (20% discount)
11/11/16	OCBC	City Developments	8.6	9.89	Buy
11/11/16	phillip	City Developments	8.6	9.98	Accumulate	RNAV (20% discount)
11/11/16	UOB Kay Hian	City Developments	8.6	10.36	Buy	RNAV (20% discount)
12/01/16	UBS	City Developments	8.44	9.9	Buy
12/02/16	DMG & Partners	City Developments	8.37	9.36	Buy
12/06/16	CIMB	City Developments	8.4	10.4	Add
12/06/16	Kim Eng	City Developments	8.4	8.9	Hold
12/07/16	Credit Suisse	City Developments	8.46	11.3	Outperform
12/07/16	Deutsche	City Developments	8.46	9.8	Buy
12/08/16	Lim & Tan	City Developments	8.43	0	Buy
12/09/16	OCBC	City Developments	8.49	9.89	Buy
12/13/16	UOB Kay Hian	City Developments	8.43	10.36	Buy
12/15/16	DBS Vickers	City Developments	8.38	9.9	Buy	RNAV (20% discount)
01/03/17	DMG & Partners	City Developments	8.28	9.36	Buy	RNAV (30% discount)
01/04/17	UOB Kay Hian	City Developments	8.31	10.36	Buy
01/05/17	Credit Suisse	City Developments	8.39	11.3	Outperform
01/09/17	DBS Vickers	City Developments	8.47	9.9	Buy	RNAV (20% discount)
01/11/17	Kim Eng	City Developments	8.64	8.9	Hold
01/12/17	CIMB	City Developments	8.69	10.4	Add
01/13/17	DIR	City Developments	8.73	10.75	Buy	Sum of parts (20% discount)
01/17/17	DMG & Partners	City Developments	8.86	9.7	Buy	RNAV (30% discount)
02/03/17	DMG & Partners	City Developments	9.26	9.7	Buy	RNAV (30% discount)
02/06/17	phillip	City Developments	9.42	9.98	Accumulate
02/08/17	Credit Suisse	City Developments	9.59	11.3	Outperform
02/17/17	DBS Vickers	City Developments	9.17	9.9	Buy
02/17/17	Deutsche	City Developments	9.17	10.8	Buy
02/24/17	CIMB	City Developments	9.66	10.51	Add	RNAV (25% discount)
02/24/17	Credit Suisse	City Developments	9.66	11.6	Outperform
02/24/17	DBS Vickers	City Developments	9.66	10.52	Buy	RNAV (20% discount)
02/24/17	Deutsche	City Developments	9.66	10.8	Buy
02/24/17	DIR	City Developments	9.66	10.9	Buy
02/24/17	DMG & Partners	City Developments	9.66	10.5	Buy	RNAV (25% discount)
02/24/17	Kim Eng	City Developments	9.66	9	Hold	RNAV (25% discount)
02/24/17	Lim & Tan	City Developments	9.66	0	Buy
02/24/17	OCBC	City Developments	9.66	10.5	Buy
02/24/17	phillip	City Developments	9.66	10.4	Accumulate	RNAV (20% discount)
02/24/17	UOB Kay Hian	City Developments	9.66	10.36	Hold	RNAV (20% discount), Buy @ $8.80
03/13/17	CIMB	City Developments	10.15	10.51	Add
03/13/17	Credit Suisse	City Developments	10.15	11.6	Outperform
03/13/17	Kim Eng	City Developments	10.15	9	Hold
03/13/17	UOB Kay Hian	City Developments	10.15	11.4	Buy
03/14/17	UBS	City Developments	10.5	11.5	Buy
03/16/17	Kim Eng	City Developments	10.23	9.8	Hold
03/23/17	DMG & Partners	City Developments	10.23	11.3	Buy	RNAV (20% discount)
04/27/17	phillip	City Developments	10.72	10.4	Accumulate
04/27/17	JP Morgan	City Developments	10.72	12.3	Overweight
05/12/17	CIMB	City Developments	10.85	11.63	Add	RNAV (20% discount)
05/12/17	Credit Suisse	City Developments	10.85	11.9	Outperform
05/12/17	Deutsche	City Developments	10.85	12.7	Buy
05/12/17	DIR	City Developments	10.85	11.43	Outperform	RNAV (20% discount)
05/12/17	DMG & Partners	City Developments	10.85	11.3	Take Profit
05/12/17	Kim Eng	City Developments	10.85	9.8	Hold	RNAV (18% discount)
05/12/17	UOB Kay Hian	City Developments	10.85	11.4	Hold	RNAV (12% discount)
05/15/17	DBS Vickers	City Developments	10.58	12.63	Buy	RNAV, PB1.2x
05/15/17	OCBC	City Developments	10.58	10.5	Hold
05/15/17	phillip	City Developments	10.58	11.07	Accumulate	RNAV (15% discount)
05/29/17	Kim Eng	City Developments	10.6	12.05	Buy	RNAV (11% discount)
06/09/17	Deutsche	City Developments	10.76	12.7	Buy	Sum of parts
06/16/17	CIMB	City Developments	10.63	11.63	Add
06/16/17	Kim Eng	City Developments	10.63	12.05	Buy
07/11/17	Kim Eng	City Developments	10.82	12.05	Buy
07/18/17	JP Morgan	City Developments	10.97	12.3	Overweight
07/27/17	DBS Vickers	City Developments	11.26	12.63	Buy	RNAV (15% discount), PB1.2x
08/11/17	OCBC	City Developments	11.67	10.5	Hold
08/14/17	phillip	City Developments	11.14	12.1	Accumulate	RNAV (15% discount)
08/14/17	UOB Kay Hian	City Developments	11.14	11.4	Hold	RNAV (12% discount), Buy @ $9.7
08/14/17	OCBC	City Developments	11.14	12.39	Buy
08/14/17	CIMB	City Developments	11.14	12.54	Add	RNAV (20% discount)
08/14/17	Kim Eng	City Developments	11.14	12.05	Buy	RNAV (11% discount)
08/15/17	Credit Suisse	City Developments	11.53	12.7	Outperform
08/15/17	DBS Vickers	City Developments	11.53	12.63	Buy	RNAV, PB1.2x
09/05/17	CIMB	City Developments	11.65	12.54	Add
09/12/17	DBS Vickers	City Developments	11.58	12.63	Buy
09/18/17	UOB Kay Hian	City Developments	11.25	11.4	Hold
09/25/17	Kim Eng	City Developments	11.23	12.05	Buy
09/28/17	OCBC	City Developments	11.29	12.39	Buy
09/29/17	DIR	City Developments	11.19	12.82	Outperform	Sum of parts
10/03/17	CIMB	City Developments	11.48	12.54	Add
10/05/17	DIR	City Developments	11.42	12.85	Outperform	RNAV (10% discount)
10/06/17	Lim & Tan	City Developments	11.41	0	Buy
10/09/17	OCBC	City Developments	11.6	12.9	Buy
10/09/17	Kim Eng	City Developments	11.6	13.6	Buy	RNAV
10/10/17	phillip	City Developments	11.75	12.1	Accumulate	RNAV (15% discount)
10/11/17	DBS Vickers	City Developments	11.85	12.63	Buy	RNAV, PB1.2x
11/10/17	Kim Eng	City Developments	12.14	13.8	Buy	RNAV
11/10/17	UOB Kay Hian	City Developments	12.14	11.4	Hold	RNAV (12% discount), Buy @ $9.7
11/10/17	CIMB	City Developments	12.14	13.15	Add	RNAV (20% discount)
11/10/17	DBS Vickers	City Developments	12.14	14.03	Buy	RNAV, PB1.2x
11/13/17	phillip	City Developments	12.2	12.1	Accumulate	RNAV (15% discount), Potential upside $13.50
11/13/17	OCBC	City Developments	12.2	13.5	Buy
11/20/17	Lim & Tan	City Developments	12.11	0	Buy
11/27/17	DBS Vickers	City Developments	12.24	14.03	Buy	RNAV, PB1.2x
11/27/17	Macquarie	City Developments	12.24	14.05	Outperform
12/01/17	UOB Kay Hian	City Developments	12.11	14.03	Buy

Citic Envirotech - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/26/16	DBS Vickers	Citic Envirotech	1.385	1.6	Buy
02/17/16	DBS Vickers	Citic Envirotech	1.4	1.4	Hold
02/23/16	OCBC	Citic Envirotech	1.42	1.4	Hold
02/24/16	CIMB	Citic Envirotech	1.43	1.61	Add	DCF
02/24/16	DBS Vickers	Citic Envirotech	1.43	1.55	Hold
02/25/16	OCBC	Citic Envirotech	1.435	1.48	Hold	PER23x FY16
03/29/16	OCBC	Citic Envirotech	1.44	1.48	Hold	PER23x FY16
04/15/16	CIMB	Citic Envirotech	1.33	1.61	Add	DCF
04/20/16	DBS Vickers	Citic Envirotech	1.39	1.55	Hold
04/20/16	OCBC	Citic Envirotech	1.39	1.48	Hold	PER23x FY16
05/03/16	OCBC	Citic Envirotech	1.395	1.48	Hold	PER23x FY16
07/28/16	CIMB	Citic Envirotech	1.25	1.52	Add	DCF
10/28/16	DBS Vickers	Citic Envirotech	1.26	1.2	Hold
12/06/16	CIMB	Citic Envirotech	1.27	1.52	Add	DCF
02/14/17	DBS Vickers	Citic Envirotech	0.82	0.8	Hold	Sum of parts, Stock split 1 into 2
03/02/17	CIMB	Citic Envirotech	0.77	0.93	Add	DCF
03/02/17	DBS Vickers	Citic Envirotech	0.77	0.92	Buy	Sum of parts
03/29/17	UOB Kay Hian	Citic Envirotech	0.83	1.1	Buy	DCF
04/03/17	UOB Kay Hian	Citic Envirotech	0.83	1.1	Buy	DCF
04/27/17	CIMB	Citic Envirotech	0.785	0.93	Add	DCF
05/03/17	UOB Kay Hian	Citic Envirotech	0.77	1.1	Buy
07/03/17	UOB Kay Hian	Citic Envirotech	0.73	1.1	Buy	DCF
08/08/17	UOB Kay Hian	Citic Envirotech	0.715	1.1	Buy	DCF
09/05/17	UOB Kay Hian	Citic Envirotech	0.735	1.1	Buy	DCF
10/04/17	UOB Kay Hian	Citic Envirotech	0.745	1.1	Buy	DCF
10/11/17	DBS Vickers	Citic Envirotech	0.735	0.8	Hold	PER25x
11/02/17	UOB Kay Hian	Citic Envirotech	0.79	1.1	Buy	DCF

Stock calls for 5 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/05/17	OCBC	OUE Commercial	0.71	0.67	Hold
12/05/17	UOB Kay Hian	SPH	2.79	2.42	Sell	Sum of parts
12/05/17	Lim & Tan	SPH	2.79	0	Hold

Billionaire Robert Kuok's daughter HK store was robbed yesterday.

http://www.themalaysiantimes.com.my/handbags-worth-us184000-stolen-robert-kuoks-daughters-shop/

We stated that HK security was getting from bad to worse in our previous post last month.  Then, another robbery happened yesterday.

Be careful when you visit HK!

http://sg-stock.blogspot.sg/2017/11/hong-kong-security-is-getting-worst.html

Chip Eng Seng - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/14/16	phillip	Chip Eng Seng	0.685	0.72	Accumulate	RNAV (50% discount)
05/09/16	phillip	Chip Eng Seng	0.645	0.72	Accumulate	RNAV (50% discount)
08/19/16	phillip	Chip Eng Seng	0.63	0.72	Accumulate
11/14/16	phillip	Chip Eng Seng	0.625	0.72	Accumulate	RNAV (50% discount)
02/21/17	phillip	Chip Eng Seng	0.72	0.81	Accumulate	RNAV (50% discount)
03/07/17	phillip	Chip Eng Seng	0.725	0.87	Accumulate	RNAV (50% discount)
05/08/17	phillip	Chip Eng Seng	0.7	0.9	Buy	RNAV (50% discount)
08/10/17	phillip	Chip Eng Seng	0.73	0.9	Buy	RNAV (50% discount)
10/17/17	DBS Vickers	Chip Eng Seng	0.9	1.18	Buy	Sum of parts
11/03/17	DBS Vickers	Chip Eng Seng	0.97	1.18	Buy	Sum of parts
11/09/17	phillip	Chip Eng Seng	0.96	1.21	Buy	RNAV (40% discount)

China Sunsine - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/16	Amfrasers	China Sunsine	0.335	0.54	Buy	PER8x FY16
04/28/16	Amfrasers	China Sunsine	0.375	0.54	Buy	PER8x FY16
08/12/16	Amfrasers	China Sunsine	0.4	0.6	Buy	PER8x FY16
09/21/16	Amfrasers	China Sunsine	0.41	0.6	Buy	PER8x FY16
11/10/16	Amfrasers	China Sunsine	0.445	0.73	Buy	PER8x FY17
06/05/17	NRA	China Sunsine	0.785	1.245	Overweight	PER12x FY17
10/27/17	Amfrasers	China Sunsine	1	1.39	Buy	PER10x FY18

China Jinjiang - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/22/17	CIMB	China Jinjiang	0.845	1.1	Add	DCF
04/27/17	CIMB	China Jinjiang	0.91	1.1	Add	DCF
05/26/17	CIMB	China Jinjiang	0.89	1.1	Add	DCF
08/21/17	CIMB	China Jinjiang	0.79	1.1	Add	DCF

China Everbright - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/26/16	Deutsche	China Everbright	0.43	1	Buy
02/22/16	Deutsche	China Everbright	0.475	0.8	Buy	DCF
02/23/16	CIMB	China Everbright	0.5	0.81	Add	DCF
02/23/16	DMG & Partners	China Everbright	0.5	0.82	Buy	DCF, PER23.5x FY16
04/13/16	DBS Vickers	China Everbright	0.555	0.64	Buy	PER25x
04/20/16	DBS Vickers	China Everbright	0.63	0.69	Buy
05/09/16	phillip	China Everbright	0.64	0.73	Accumulate	PER19.3x
05/16/16	CIMB	China Everbright	0.67	0.81	Add	DCF
05/17/16	DBS Vickers	China Everbright	0.66	0.69	Buy
06/13/16	DBS Vickers	China Everbright	0.645	0.69	Buy
07/15/16	CIMB	China Everbright	0.66	0.81	Add	DCF
08/10/16	CIMB	China Everbright	0.6	0.67	Hold	DCF
08/10/16	DBS Vickers	China Everbright	0.6	0.66	Buy	PER26x FY16
08/10/16	DMG & Partners	China Everbright	0.6	0.8	Buy	DCF
08/10/16	phillip	China Everbright	0.6	0.69	Accumulate	PER19.2x
11/16/16	phillip	China Everbright	0.535	0.63	Accumulate	PER19.8x
12/06/16	CIMB	China Everbright	0.495	0.54	Hold	DCF
12/07/16	Deutsche	China Everbright	0.495	0.7	Buy
01/03/17	DMG & Partners	China Everbright	0.5	0.62	Buy
02/27/17	phillip	China Everbright	0.435	0.56	Buy	PER17.4x
02/28/17	DMG & Partners	China Everbright	0.44	0.54	Buy	DCF
03/13/17	DBS Vickers	China Everbright	0.44	0.64	Buy	PER24x
03/30/17	DMG & Partners	China Everbright	0.475	0.54	Buy
04/03/17	DBS Vickers	China Everbright	0.475	0.64	Buy
05/15/17	DBS Vickers	China Everbright	0.48	0.64	Buy	PER24x
05/15/17	phillip	China Everbright	0.48	0.57	Accumulate	PER16.7x
08/08/17	DMG & Partners	China Everbright	0.475	0.54	Buy	DCF
08/10/17	phillip	China Everbright	0.485	0.61	Buy	PER17.1x
08/10/17	DBS Vickers	China Everbright	0.485	0.65	Buy	PER24x FY18
10/11/17	DBS Vickers	China Everbright	0.465	0.65	Buy	PER24x FY18
10/20/17	phillip	China Everbright	0.46	0.54	Buy	PER15.9x
11/15/17	DMG & Partners	China Everbright	0.45	0.54	Buy	DCF
11/17/17	phillip	China Everbright	0.445	0.59	Buy	PER17.4x FY18

Stock calls for 4 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/04/17	Kim Eng	Best World	1.26	1.88	Buy	PER19x FY18, PEG0.7x
12/04/17	Phillip	CapitaRetail China	1.64	1.66	Neutral	DDM
12/04/17	phillip	Dairy Farm	8.08	9.89	Buy
12/04/17	phillip	F & N	2.58	2.83	Accumulate
12/04/17	CIMB	First Resources	1.88	2.13	Add
12/04/17	Lim & Tan	Keppel Corp	7.76	0	Buy
12/04/17	Phillip	Mapletree Industrial	1.99	2.06	Hold
12/04/17	OCBC	Mapletree Industrial	1.99	2.06	Hold
12/04/17	phillip	Old Chang Kee	0.76	0.98	Buy
12/04/17	UOB Kay Hian	SATS	5.24	6	Buy
12/04/17	UOB Kay Hian	Sembcorp Marine	1.87	2.1	Buy	PB1.6x FY19
12/04/17	Amfrasers	Sembcorp Marine	1.87	2.05	Hold
12/04/17	DMG & Partners	SGX	7.55	9	Buy	PER24x FY19
12/04/17	phillip	Sheng Siong	0.935	1.18	Buy
12/04/17	DBS Vickers	Singapore Post	1.28	1.23	Hold
12/04/17	Phillip	Thai Beverage	0.96	1.18	Buy

Baltic dry index - 1626

Today, Friday, December 01 2017, the Baltic Dry Index climbed by 48 points, reaching 1626 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 - 929

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. went up by six this week to 929.

That’s a significant rise from 597 rigs that were active this time a year ago.

According to Houston oilfield services company Baker Hughes, 749 rigs were drilling for oil and 180 for natural gas this week. Baker Hughes released its tabulation Friday.

Among major oil- and gas-producing states, Texas gained four rigs to reach 454 total. Kansas, New Mexico, North Dakota, and Utah each added one.

Louisiana and Colorado each lost one rig.

Alaska, Arkansas, California, Ohio, Oklahoma, Pennsylvania, West Virginia and Wyoming were unchanged.

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

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

Related stocks: Keppel Corp, Sembcorp Marine & Cosco

Canada to proclaim 13 December as Nanjing Massacre Commemorative Day!

http://en.people.cn/n3/2017/1201/c90000-9299327.html

Great job to Canadian lawmaker!

Our PM Lee asked the Japanese not to apologize anymore for its past atrocities but the righteous Canada will proclaim 13 December as Nanjing Massacre Commemorative Day in Canada.

SG was also a victim in the past but SG dared not offend Japan.  Instead, SG chose to offend China and SK.  What was SG thinking!

http://www.dailymail.co.uk/wires/afp/article-3102924/Asia-WWII-Singapore-PM.html

Our PM Lee needed an Asian history lesson because he alluded the Japanese to the European.  The Germans didn't whitewash its past atrocities (Hitler & NAZIs) like the Japanese did and Japan was not remorseful for what it did.  Therefore, we must continue to demand Japan to apologize until Japan corrects its history in Japan.

http://sg-stock.blogspot.sg/2017/06/japan-consulate-is-trying-to-whitewash.html

https://sg-stock.blogspot.sg/2016/08/why-is-world-willing-to-move-on-after.html

Disgusting Shenzhen restaurant uses leftover oil from leftover food.

https://sg.news.yahoo.com/chinese-grilled-fish-restaurant-shockingly-reuses-oil-leftover-food-074945584.html

This is utterly disgusting.  Therefore, don't ever think that it is safe to eat at a restaurant in China.  Even reputable fast-food restaurants may not be safe as they hired local food purchasers who are prone to bribery and corruption.  It will take a generation to get rid of this bad culture in China.

China Aviation Oil - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/14/16	DMG & Partners	China Aviation Oil	0.655	1.24	Buy	DCF, PER12.4x FY16
02/26/16	DMG & Partners	China Aviation Oil	0.615	1.28	Buy	DCF, PER11.8x FY16
03/28/16	phillip	China Aviation Oil	0.795	0.92	Accumulate	DCF
04/25/16	phillip	China Aviation Oil	0.915	0.92	Neutral	DCF
04/27/16	DMG & Partners	China Aviation Oil	0.895	1.22	Buy	DCF, PEG0.9x FY16
05/03/16	DBS Vickers	China Aviation Oil	0.87	1.04	Buy	PER & PB
05/26/16	UOB Kay Hian	China Aviation Oil	0.995	1.56	Buy	DCF, PER12x FY17, PB1.4x
06/10/16	UOB Kay Hian	China Aviation Oil	1.17	1.56	Buy	DCF, PER12x FY17, PB1.4x FY17
07/08/16	DBS Vickers	China Aviation Oil	1.3	1.62	Buy	PER12x FY17
07/12/16	UOB Kay Hian	China Aviation Oil	1.375	1.85	Buy	PER14.4x FY17
07/29/16	UOB Kay Hian	China Aviation Oil	1.46	1.9	Buy	PER14.4x FY17
08/02/16	phillip	China Aviation Oil	1.445	1.92	Buy	PER14.2x
08/03/16	DBS Vickers	China Aviation Oil	1.47	1.7	Buy	PER12x FY17
08/29/16	UOB Kay Hian	China Aviation Oil	1.365	1.9	Buy	PER14.4x FY17
10/03/16	UOB Kay Hian	China Aviation Oil	1.34	1.9	Buy	PER14.4x FY17
11/03/16	DMG & Partners	China Aviation Oil	1.43	1.61	Buy
11/03/16	UOB Kay Hian	China Aviation Oil	1.43	1.9	Buy	PER14.4x FY17
11/04/16	DBS Vickers	China Aviation Oil	1.4	1.7	Buy	PER12x FY17
11/04/16	phillip	China Aviation Oil	1.4	1.92	Buy	PER13.9x
12/05/16	UOB Kay Hian	China Aviation Oil	1.38	1.9	Buy
01/03/17	UOB Kay Hian	China Aviation Oil	1.4	1.9	Buy
01/05/17	UOB Kay Hian	China Aviation Oil	1.4	2.01	Buy	PER14.4x FY17
01/13/17	DBS Vickers	China Aviation Oil	1.505	1.7	Buy
01/17/17	CIMB	China Aviation Oil	1.505	2	Add	PER13x CY18
02/24/17	DBS Vickers	China Aviation Oil	1.51	1.85	Buy	PER12x FY18
02/24/17	UOB Kay Hian	China Aviation Oil	1.51	2.21	Buy	PER14.4x FY17
02/27/17	CIMB	China Aviation Oil	1.525	2.28	Add	PER13x FY18
02/27/17	phillip	China Aviation Oil	1.525	2	Buy	PER11.7x FY17
02/28/17	Edison	China Aviation Oil	1.525	1.53	Buy	DCF
03/02/17	UOB Kay Hian	China Aviation Oil	1.525	2.21	Buy
03/03/17	DMG & Partners	China Aviation Oil	1.5	1.83	Buy	PER11.2x FY17, PEG1x FY17
03/17/17	DBS Vickers	China Aviation Oil	1.475	1.85	Buy
03/24/17	CIMB	China Aviation Oil	1.465	2.28	Add	PER13x FY18
04/03/17	UOB Kay Hian	China Aviation Oil	1.525	2.21	Buy
04/10/17	CIMB	China Aviation Oil	1.64	2.28	Add	PER13x FY18
04/20/17	UOB Kay Hian	China Aviation Oil	1.63	2.26	Buy	PER14.4x FY17
04/21/17	phillip	China Aviation Oil	1.635	2	Buy	PER11.7x
04/26/17	DMG & Partners	China Aviation Oil	1.625	1.9	Buy	PER11.3x FY17, PEG0.68x FY17
05/03/17	UOB Kay Hian	China Aviation Oil	1.62	2.26	Buy
05/31/17	CIMB	China Aviation Oil	1.685	2.28	Add
06/09/17	CIMB	China Aviation Oil	1.65	2.2	Buy	PER13x FY18
06/13/17	UOB Kay Hian	China Aviation Oil	1.685	2.01	Buy
06/28/17	DMG & Partners	China Aviation Oil	1.665	1.9	Buy	PER11.3x FY17, PEG0.68x FY17
07/03/17	UOB Kay Hian	China Aviation Oil	1.67	2.26	Buy	PER14.4x FY17
07/27/17	DBS Vickers	China Aviation Oil	1.765	1.85	Buy	PER12x FY18
07/28/17	DMG & Partners	China Aviation Oil	1.67	1.9	Buy	PER11.3x FY17, PEG0.61x FY17
07/28/17	CIMB	China Aviation Oil	1.67	2.08	Add	PER13x FY18
07/31/17	phillip	China Aviation Oil	1.65	2	Buy	PER11.7x
07/31/17	DBS Vickers	China Aviation Oil	1.65	2.08	Buy	PER13x FY18
08/17/17	UOB Kay Hian	China Aviation Oil	1.535	2.26	Buy
11/03/17	UOB Kay Hian	China Aviation Oil	1.76	2.26	Buy	PER14.4x FY17
11/03/17	DMG & Partners	China Aviation Oil	1.76	1.8	Neutral	PER12x FY17
11/03/17	CIMB	China Aviation Oil	1.76	2.08	Add	PER13x FY18
11/03/17	DBS Vickers	China Aviation Oil	1.76	2.08	Buy
11/06/17	phillip	China Aviation Oil	1.67	2	Buy	PER11.5x FY18

Centurion - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/04/16	DBS Vickers	Centurion	0.355	0.59	Buy
02/24/16	DMG & Partners	Centurion	0.375	0.39	Neutral	DCF
05/11/16	DMG & Partners	Centurion	0.385	0.39	Neutral	DCF
11/16/16	Kim Eng	Centurion	0.34	0.36	Hold	DCF, Cut from $0.37
11/24/16	phillip	Centurion	0.32	0.42	Buy	DCF
02/06/17	phillip	Centurion	0.36	0.42	Buy
03/02/17	DMG & Partners	Centurion	0.405	0.39	Neutral	DCF
03/02/17	Kim Eng	Centurion	0.405	0.41	Hold	DCF
03/03/17	phillip	Centurion	0.4	0.42	Accumulate	DCF
03/31/17	Lim & Tan	Centurion	0.41	0	Hold
04/03/17	phillip	Centurion	0.42	0.42	Accumulate	DCF
05/19/17	phillip	Centurion	0.445	0.48	Accumulate	DCF
08/11/17	Kim Eng	Centurion	0.545	0.55	Hold	DCF
08/11/17	phillip	Centurion	0.545	0.59	Accumulate	DCF
11/10/17	phillip	Centurion	0.535	0.59	Accumulate	DCF

Stock calls for 1 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/01/17	UOB Kay Hian	A-Reit	2.64	3.05	Buy
12/01/17	UOB Kay Hian	ART	1.19	1.23	Hold
12/01/17	UOB Kay Hian	CapitaCommercial	1.89	2.09	Buy
12/01/17	UOB Kay Hian	Capitaland	3.53	5.06	Buy
12/01/17	UOB Kay Hian	Capitamall Trust	2.05	2.04	Hold
12/01/17	UOB Kay Hian	CDL Hospitality	1.65	1.88	Buy
12/01/17	UOB Kay Hian	City Developments	12.11	14.03	Buy
12/01/17	UOB Kay Hian	DBS	24.43	26.1	Buy	GGM, PB1.38x FY18
12/01/17	UOB Kay Hian	Frasers Centrepoint Trust	2.22	2.43	Buy
12/01/17	UOB Kay Hian	Frasers Hospitality Trust	0.775	0.85	Buy
12/01/17	UOB Kay Hian	Frasers Logistics	1.08	1.2	Buy
12/01/17	Amfrasers	Golden Energy	0.4	0.78	Buy
12/01/17	phillip	Golden Energy	0.4	0.59	Buy
12/01/17	UOB Kay Hian	Guocoland	2.08	2.8	Buy
12/01/17	UOB Kay Hian	Ho Bee	2.48	3.02	Buy
12/01/17	DBS Vickers	Hong Fok	0.825	1.31	Not Rated	RNAV (40% discount)
12/01/17	UOB Kay Hian	Keppel Reit	1.26	1.43	Buy
12/01/17	UOB Kay Hian	Mapletree Industrial	1.97	1.88	Hold
12/01/17	UOB Kay Hian	Mapletree Logistics	1.27	1.37	Buy
12/01/17	UOB Kay Hian	OCBC	12.45	13.56	Buy	GGM, PB1.44x FY18
12/01/17	OCBC	OUE Hospitality	0.815	0.82	Hold
12/01/17	UOB Kay Hian	Oxley	0.6	0.74	Buy
12/01/17	UOB Kay Hian	Parkway Life	2.9	3	Buy
12/01/17	Lim & Tan	SPH Reit	1.05	0	Hold
12/01/17	UOB Kay Hian	Suntec Reit	2.04	2.13	Hold
12/01/17	DMG & Partners	UOB	26.2	28.8	Buy	GGM, PB1.33x FY18
12/01/17	UOB Kay Hian	Wheelock Properties	1.9	2.33	Buy
12/01/17	UOB Kay Hian	Wing Tai	2.17	2.78	Buy