Manulife US Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/22/16	Deutsche	Manulife US Reit	0.81	0.9	Buy
07/05/16	DBS Vickers	Manulife US Reit	0.825	0.91	Buy	DCF
07/18/16	DBS Vickers	Manulife US Reit	0.86	0.93	Buy
07/26/16	Deutsche	Manulife US Reit	0.86	0.9	Buy
08/16/16	DBS Vickers	Manulife US Reit	0.845	0.93	Buy
10/10/16	DBS Vickers	Manulife US Reit	0.82	0.93	Buy	DCF
11/04/16	Lim & Tan	Manulife US Reit	0.845	0.93	Buy
11/08/16	DBS Vickers	Manulife US Reit	0.84	0.93	Buy	DCF
11/08/16	Religare	Manulife US Reit	0.84	0.95	Buy
11/16/16	Deutsche	Manulife US Reit	0.815	0.95	Buy
11/23/16	DMG & Partners	Manulife US Reit	0.8	0.96	Buy	DDM
12/07/16	Deutsche	Manulife US Reit	0.83	0.95	Buy
01/03/17	DMG & Partners	Manulife US Reit	0.83	0.96	Buy	DDM
01/05/17	Lim & Tan	Manulife US Reit	0.835	0	Buy
01/09/17	DBS Vickers	Manulife US Reit	0.84	0.93	Buy	DCF
02/14/17	DBS Vickers	Manulife US Reit	0.86	0.95	Buy	DCF
02/14/17	DMG & Partners	Manulife US Reit	0.86	0.96	Buy	DDM
02/28/17	Deutsche	Manulife US Reit	0.84	0.95	Buy
03/10/17	DMG & Partners	Manulife US Reit	0.84	0.96	Buy
04/07/17	DMG & Partners	Manulife US Reit	0.835	0.96	Buy
05/03/17	DBS Vickers	Manulife US Reit	0.84	1.01	Buy	DCF
05/04/17	DMG & Partners	Manulife US Reit	0.85	0.96	Buy
05/08/17	Lim & Tan	Manulife US Reit	0.865	0	Buy
06/21/17	DMG & Partners	Manulife US Reit	0.885	0.99	Buy	DDM
06/21/17	Lim & Tan	Manulife US Reit	0.885	0	Buy on weakness
06/22/17	Deutsche	Manulife US Reit	0.89	0.95	Buy
07/12/17	DMG & Partners	Manulife US Reit	0.915	0.99	Buy
08/10/17	DMG & Partners	Manulife US Reit	0.925	1	Buy	DDM
08/10/17	DBS Vickers	Manulife US Reit	0.925	1.07	Buy	DCF
08/10/17	Lim & Tan	Manulife US Reit	0.925	1	Buy
08/10/17	Deutsche	Manulife US Reit	0.925	1	Buy
09/04/17	Lim & Tan	Manulife US Reit	0.965	0	Buy
09/05/17	DMG & Partners	Manulife US Reit	0.94	0.98	Buy	DDM, Ex-Rights 41-for-100 @ $0.695
11/06/17	DMG & Partners	Manulife US Reit	0.905	0.98	Buy	DDM
11/29/17	DBS Vickers	Manulife US Reit	0.865	0.99	Buy	DCF
12/19/17	DMG & Partners	Manulife US Reit	0.93	0.98	Buy
01/03/18	Lim & Tan	Manulife US Reit	0.93	1	Buy
01/04/18	Deutsche	Manulife US Reit	0.94	1	Buy
01/05/18	DMG & Partners	Manulife US Reit	0.935	0.98	Buy

Mandarin Oriental - Stock calls

Date	Analyst	Code	Company	Last	Target	Call	Percent	Valuation
03/03/17	Nomura	M04	Mandarin Oriental	1.275	1.06	Reduce	-16.86
06/06/17	Nomura	M04	Mandarin Oriental	1.71	1.73	Neutral	1.17

Stock calls for 26 January 2018

Date	Analyst	Company	Last	Target	Call	Valuation
01/26/18	Phillip	A-Reit	2.75	2.89	Accumulate	DDM, PB1.36x FY18
01/26/18	OCBC	A-Reit	2.75	2.69	Hold
01/26/18	DBS Vickers	A-Reit	2.75	2.85	Buy
01/26/18	CIMB	A-Reit	2.75	2.88	Add
01/26/18	DMG & Partners	Breadtalk	1.72	2.09	Buy	Sum of parts
01/26/18	Kim Eng	CapitaCommercial	1.9	1.8	Hold
01/26/18	DMG & Partners	CapitaCommercial	1.9	1.63	Sell	DDM
01/26/18	OCBC	CapitaCommercial	1.9	1.84	Hold
01/26/18	DBS Vickers	CapitaCommercial	1.9	2.1	Buy	DCF
01/26/18	CIMB	CapitaCommercial	1.9	1.84	Hold
01/26/18	Phillip	Capitamall Trust	2.1	2.03	Neutral	DDM, PB1.02x
01/26/18	UOB Kay Hian	Capitamall Trust	2.1	2.04	Hold	DDM
01/26/18	DBS Vickers	Capitamall Trust	2.1	2.19	Buy
01/26/18	UOB Kay Hian	Frasers Hospitality Trust	0.81	0.9	Buy	DDM
01/26/18	DMG & Partners	Golden Energy	0.475	0.68	Buy	DCF & PER13.1x FY18
01/26/18	OCBC	Keppel Corp	8.58	9.45	Buy
01/26/18	UOB Kay Hian	Keppel Corp	8.58	9.3	Buy	Sum of parts
01/26/18	DBS Vickers	Keppel Corp	8.58	10.2	Buy
01/26/18	Lim & Tan	Keppel Corp	8.58	0	Buy on weakness
01/26/18	CIMB	Keppel Corp	8.58	10	Add	Sum of parts
01/26/18	CIMB	Mapletree Commercial	1.68	1.75	Buy	DDM
01/26/18	DBS Vickers	Netlink	0.83	0.95	Buy	DCF
01/26/18	UOB Kay Hian	Singapore Medical	0.63	0.83	Buy	PER26.8x FY18, PEG0.3x
01/26/18	DBS Vickers	Singtel	3.62	4.3	Buy	Sum of parts
01/26/18	DBS Vickers	Starhub	2.97	2.2	Fully Valued	DCF
01/26/18	UOB Kay Hian	Suntec Reit	2.14	2.13	Hold	DDM
01/26/18	OCBC	UOB	27.98	30.1	Buy	PB1.3x FY18

Noble reacted to the restructuring news after our posting.

http://sg-stock.blogspot.sg/2018/01/great-news-noble-group-has-struck-35b.html

We posted the restructuring news at 1:04pm and nobody knew about the news since the price was falling based on the hourly price charts (Yahoo Finance).  Thereafter, people caught hold of the news and bought Noble Group resulting in the price moving higher before the halt.

M1 - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/14/16	DIR	M1	2.68	2.87	Outperform	DDM, PER13.4x FY16
01/18/16	Citigroup	M1	2.6	2.56	Hold
01/18/16	DMG & Partners	M1	2.6	3.2	Buy	DCF
01/18/16	OCBC	M1	2.6	2.95	Buy	DCF
01/19/16	CIMB	M1	2.61	3.1	Hold	DCF
01/19/16	Credit Suisse	M1	2.61	2.15	Underperform
01/19/16	DBS Vickers	M1	2.61	2.6	Hold	DCF
01/19/16	DIR	M1	2.61	2.94	Outperform	DDM
01/19/16	Kim Eng	M1	2.61	3.09	Hold	DCF
01/19/16	Lim & Tan	M1	2.61	0	Buy
01/19/16	Nomura	M1	2.61	2.95	Neutral
01/19/16	UOB Kay Hian	M1	2.61	3.34	Buy	DCF
01/26/16	Deutsche	M1	2.24	3.9	Buy
01/26/16	DIR	M1	2.24	2.94	Buy	DDM
02/19/16	Credit Suisse	M1	2.52	2.15	Underperform
02/19/16	DBS Vickers	M1	2.52	2.6	Hold
02/19/16	DMG & Partners	M1	2.52	3.2	Buy
02/19/16	UOB Kay Hian	M1	2.52	3.34	Buy
02/22/16	CIMB	M1	2.54	3.1	Hold
02/22/16	Nomura	M1	2.54	3.3	Buy
03/04/16	Citigroup	M1	2.54	2.82	Buy
03/04/16	Deutsche	M1	2.54	3.9	Buy
03/15/16	CIMB	M1	2.57	3.1	Hold
03/16/16	OCBC	M1	2.59	2.95	Buy
03/17/16	UOB Kay Hian	M1	2.58	3.34	Buy
03/21/16	Credit Suisse	M1	2.59	2.15	Underperform
03/28/16	UOB Kay Hian	M1	2.7	3.02	Buy	Probability weighted target
03/29/16	Nomura	M1	2.6	3.3	Buy
04/13/16	CIMB	M1	2.47	2.4	Hold	DCF
04/13/16	Credit Suisse	M1	2.47	2.15	Underperform
04/14/16	Credit Suisse	M1	2.48	2.05	Underperform
04/14/16	DBS Vickers	M1	2.48	2.56	Hold	DCF
04/14/16	DMG & Partners	M1	2.48	3.2	Buy
04/14/16	Lim & Tan	M1	2.48	0	Hold
04/14/16	OCBC	M1	2.48	2.9	Buy	DCF
04/14/16	UOB Kay Hian	M1	2.48	3.02	Buy	Probability weighted target
05/10/16	UOB Kay Hian	M1	2.41	3.02	Buy	Probability weighted target
05/12/16	UOB Kay Hian	M1	2.37	2.14	Sell
05/26/16	DIR	M1	2.35	2.94	Buy	DDM
06/06/16	DBS Vickers	M1	2.42	2.6	Buy
06/13/16	Kim Eng	M1	2.55	3.09	Hold
06/15/16	UOB Kay Hian	M1	2.52	2.14	Sell
06/21/16	DIR	M1	2.43	2.94	Buy	DDM
07/07/16	Credit Suisse	M1	2.74	2.05	Underperform
07/11/16	DBS Vickers	M1	2.78	3.3	Buy
07/14/16	UOB Kay Hian	M1	2.89	2.14	Sell
07/18/16	CIMB	M1	2.78	2.8	Hold	DCF
07/18/16	Citigroup	M1	2.78	2.98	Hold
07/18/16	DBS Vickers	M1	2.78	3.3	Buy
07/18/16	DIR	M1	2.78	3.38	Buy	DDM
07/18/16	DMG & Partners	M1	2.78	3.02	Neutral	DCF
07/18/16	Kim Eng	M1	2.78	2.94	Hold	DCF
07/18/16	Nomura	M1	2.78	3.25	Buy
07/18/16	OCBC	M1	2.78	2.79	Hold	DCF
07/18/16	UOB Kay Hian	M1	2.78	2	Sell
08/05/16	DIR	M1	2.8	3.38	Buy	DDM
08/22/16	DBS Vickers	M1	2.72	2.85	Hold
08/22/16	UOB Kay Hian	M1	2.72	2.39	Sell
08/26/16	Credit Suisse	M1	2.73	2.05	Underperform
09/02/16	CIMB	M1	2.66	2.8	Hold	DCF
09/02/16	Credit Suisse	M1	2.66	2	Underperform
09/02/16	OCBC	M1	2.66	2.79	Hold
09/02/16	UOB Kay Hian	M1	2.66	2	Sell
09/05/16	Kim Eng	M1	2.61	2.04	Sell	DCF
09/06/16	Citigroup	M1	2.53	2.4	Sell
09/22/16	DBS Vickers	M1	2.39	2.15	Fully Valued	DCF
09/22/16	Deutsche	M1	2.39	3.1	Buy
10/04/16	DIR	M1	2.44	2.41	Hold	DDM
10/19/16	CIMB	M1	2.33	2.55	Hold	DCF
10/19/16	DBS Vickers	M1	2.33	1.97	Fully Valued	DCF
10/19/16	Deutsche	M1	2.33	2.9	Buy
10/19/16	DIR	M1	2.33	2.23	Hold	DDM
10/19/16	Kim Eng	M1	2.33	1.9	Sell	DCF
10/19/16	Lim & Tan	M1	2.33	0	Sell
10/19/16	Nomura	M1	2.33	2	Reduce
10/19/16	OCBC	M1	2.33	2.25	Hold	DCF
10/19/16	UOB Kay Hian	M1	2.33	1.76	Sell	DCF
11/14/16	DIR	M1	2.06	2.23	Hold	DDM
11/17/16	OCBC	M1	2.04	2.25	Hold
11/18/16	DBS Vickers	M1	1.995	1.97	Fully Valued
11/18/16	Nomura	M1	1.995	1.75	Reduce
11/21/16	CIMB	M1	1.935	2.1	Hold	DCF
11/21/16	UOB Kay Hian	M1	1.935	1.76	Sell
12/06/16	CIMB	M1	2	2.1	Hold	DCF
12/07/16	Deutsche	M1	1.985	2.9	Buy
12/09/16	OCBC	M1	2.02	2.08	Hold
12/13/16	Kim Eng	M1	2.03	1.9	Sell	DCF
12/15/16	Credit Suisse	M1	2.02	1.65	Underperform
12/15/16	DBS Vickers	M1	2.02	1.78	Fully Valued	DCF
12/15/16	UOB Kay Hian	M1	2.02	1.76	Sell
12/27/16	DMG & Partners	M1	1.915	2.05	Neutral
01/03/17	UOB Kay Hian	M1	1.96	1.76	Sell
01/12/17	CIMB	M1	2.06	1.9	Hold	DCF, Buy below $1.56
01/12/17	Deutsche	M1	2.06	2.6	Buy
01/13/17	Credit Suisse	M1	2.08	1.65	Underperform
01/13/17	DBS Vickers	M1	2.08	2.09	Hold	DCF
01/13/17	DMG & Partners	M1	2.08	2.05	Neutral	DCF
01/17/17	DIR	M1	2.08	2.02	Hold	DDM
01/18/17	UOB Kay Hian	M1	2.09	2.5	Buy	DCF
01/25/17	Credit Suisse	M1	2.17	1.55	Underperform
01/25/17	DBS Vickers	M1	2.17	1.97	Hold	DCF
01/25/17	Kim Eng	M1	2.17	1.85	Sell	DCF
01/25/17	Lim & Tan	M1	2.17	0	Sell
01/25/17	OCBC	M1	2.17	2.03	Hold
01/25/17	UOB Kay Hian	M1	2.17	2.48	Buy	DCF
01/26/17	CIMB	M1	2.05	1.8	Reduce	DCF
02/24/17	UOB Kay Hian	M1	2.03	2.52	Buy	DCF
02/24/17	Deutsche	M1	2.03	2.5	Buy
03/13/17	DIR	M1	2.11	1.93	Hold	DDM
03/17/17	OCBC	M1	2.03	1.75	Sell
03/20/17	Credit Suisse	M1	2.19	1.5	Underperform
03/20/17	DBS Vickers	M1	2.19	1.97	Hold
03/20/17	DMG & Partners	M1	2.19	2.05	Neutral	DCF
03/21/17	OCBC	M1	2.17	1.96	Hold	EV/EBitda8.5x FY17/18
04/05/17	CIMB	M1	2.16	1.8	Reduce
04/05/17	Credit Suisse	M1	2.16	1.5	Underperform
04/05/17	DMG & Partners	M1	2.16	2.05	Neutral
04/05/17	Kim Eng	M1	2.16	1.75	Sell	DCF
04/05/17	OCBC	M1	2.16	1.96	Hold
04/06/17	DBS Vickers	M1	2.12	1.97	Hold	DCF
04/18/17	CIMB	M1	2.14	1.7	Reduce	DCF
04/18/17	Credit Suisse	M1	2.14	1.45	Underperform
04/18/17	DIR	M1	2.14	1.93	Hold	DDM
04/18/17	Lim & Tan	M1	2.14	0	Hold
04/18/17	Deutsche	M1	2.14	2.3	Buy
05/02/17	DBS Vickers	M1	2.17	2.54	Buy	EV/Ebitda8.4x FY17
06/02/17	DMG & Partners	M1	2.27	2.05	Neutral	DCF
07/07/17	OCBC	M1	2.11	1.96	Hold
07/14/17	DMG & Partners	M1	2.07	2.05	Neutral
07/19/17	OCBC	M1	2.1	1.75	Sell
07/19/17	DIR	M1	2.1	1.93	Hold	DDM
07/19/17	Credit Suisse	M1	2.1	1.45	Underperform
07/19/17	DMG & Partners	M1	2.1	1.9	Neutral	DCF
07/19/17	CIMB	M1	2.1	1.7	Reduce	DCF
07/19/17	DBS Vickers	M1	2.1	1.78	Fully Valued	DCF
08/18/17	UOB Kay Hian	M1	1.77	1.98	Buy	DCF
08/23/17	DMG & Partners	M1	1.785	1.9	Neutral
09/11/17	OCBC	M1	1.78	1.65	Hold
09/14/17	Kim Eng	M1	1.79	1.59	Sell	DCF
09/18/17	Credit Suisse	M1	1.795	1.45	Underperform
09/20/17	Deutsche	M1	1.79	2.3	Buy
09/25/17	UOB Kay Hian	M1	1.78	1.98	Buy
09/25/17	CIMB	M1	1.78	1.8	Hold
09/28/17	DIR	M1	1.785	1.74	Hold	DDM
10/16/17	DBS Vickers	M1	1.815	1.49	Fully Valued	DCF
10/17/17	UOB Kay Hian	M1	1.805	1.95	Buy	DCF
10/17/17	OCBC	M1	1.805	1.65	Hold
10/17/17	DMG & Partners	M1	1.805	1.9	Neutral
10/17/17	Kim Eng	M1	1.805	1.59	Sell
10/17/17	CIMB	M1	1.805	1.8	Hold
11/23/17	OCBC	M1	1.77	1.65	Hold
11/28/17	Kim Eng	M1	1.77	1.59	Sell
01/10/18	DMG & Partners	M1	1.79	1.9	Neutral
01/12/18	UOB Kay Hian	M1	1.79	1.95	Hold
01/24/18	UOB Kay Hian	M1	1.87	1.84	Hold	DCF, Buy @ $1.7
01/24/18	DMG & Partners	M1	1.87	1.95	Neutral	DCF
01/24/18	OCBC	M1	1.87	1.7	Hold
01/24/18	DBS Vickers	M1	1.87	1.49	Fully Valued	DCF
01/25/18	CIMB	M1	1.87	1.85	Hold	DCF

Lippo-Malls Indo - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/24/16	OCBC	Lippo-Malls Indo	0.32	0.35	Hold
02/25/16	CIMB	Lippo-Malls Indo	0.315	0.37	Add	DDM
05/04/16	OCBC	Lippo-Malls Indo	0.33	0.35	Hold
05/05/16	CIMB	Lippo-Malls Indo	0.335	0.37	Add	DDM
06/07/16	OCBC	Lippo-Malls Indo	0.33	0.35	Buy
08/08/16	CIMB	Lippo-Malls Indo	0.37	0.4	Add	DDM
11/14/16	CIMB	Lippo-Malls Indo	0.39	0.38	Hold	DDM
11/14/16	OCBC	Lippo-Malls Indo	0.39	0.4	Buy	DDM
02/17/17	CIMB	Lippo-Malls Indo	0.385	0.39	Hold	DDM
02/17/17	OCBC	Lippo-Malls Indo	0.385	0.43	Buy	DDM
04/04/17	OCBC	Lippo-Malls Indo	0.395	0.43	Buy
06/01/17	OCBC	Lippo-Malls Indo	0.415	0.435	Buy
06/22/17	CIMB	Lippo-Malls Indo	0.43	0.41	Hold	DDM
06/28/17	OCBC	Lippo-Malls Indo	0.44	0.475	Buy	DDM
08/07/17	OCBC	Lippo-Malls Indo	0.455	0.45	Hold	DDM
08/08/17	CIMB	Lippo-Malls Indo	0.455	0.43	Hold	DDM
08/30/17	OCBC	Lippo-Malls Indo	0.43	0.455	Buy
11/06/17	OCBC	Lippo-Malls Indo	0.44	0.46	Buy	DDM
12/13/17	OCBC	Lippo-Malls Indo	0.415	0.46	Buy

Stock calls for 25 January 2018

Date	Analyst	Company	Last	Target	Call	Valuation
01/25/18	Lim & Tan	CapitaCommercial	1.91	0	Hold
01/25/18	UOB Kay Hian	Keppel T&T	1.7	1.9	Buy	Sum of parts
01/25/18	CIMB	M1	1.87	1.85	Hold	DCF
01/25/18	Lim & Tan	Mapletree Commercial	1.67	0	Hold
01/25/18	Phillip	Mapletree Industrial	2.12	2.15	Neutral	DDM, PB1.48x FY18
01/25/18	CIMB	Mapletree Industrial	2.12	2.16	Add	DDM
01/25/18	CIMB	Suntec Reit	2.15	2.17	Hold	DDM
01/25/18	DBS Vickers	Suntec Reit	2.15	2.3	Buy	DCF
01/25/18	OCBC	Suntec Reit	2.15	1.81	Sell
01/25/18	Kim Eng	Suntec Reit	2.15	1.91	Hold

Great news! Noble Group has struck a $3.5b restructuring deal.

https://finance.yahoo.com/news/noble-group-strikes-3-5-025617606.html

Noble Group has managed to strike a $3.5b restructuring deal, leaving it laden with only $600m debt.

With this restructuring deal, Noble Group is able to continue to operate without any on-going concern.  This restructuring deal also enables Noble Group to have a better bargaining power to negotiate with any potential investor.

The USA is barking up the wrong tree.

http://www.newindianexpress.com/world/2018/jan/24/us-warns-hong-kong-on-illicit-north-korea-trade-1762816.html

It's already been proven that it was a Taiwanese who chartered the HK flagged ship for the illegal oil shipment to NK but the USA still wanted to put the blame on China.

How the hell would HK authority know about the illegal oil shipment when the transponder was switched off at the open sea?

http://sg-stock.blogspot.sg/2018/01/taiwanese-boss-knew-that-oil-shipment.html

The USA should warn Taiwan government, not HK government!  Sigh! Stupidity has no cure!

Lian Beng - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/23/17	NRA	Lian Beng	0.705	1.08	Not Rated	RNAV (11.6% discount)
12/06/17	DBS Vickers	Lian Beng	0.715	0.85	Not Rated	RNAV (50% discount)

KSH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/05/16	Lim & Tan	KSH	0.5	0	Buy
02/10/16	OCBC	KSH	0.51	0.61	Buy	1-for-10 Bonus
05/31/16	Lim & Tan	KSH	0.55	0	Buy
06/02/16	OCBC	KSH	0.55	0.61	Buy
06/13/16	Lim & Tan	KSH	0.55	0.7	Buy
06/13/16	UOB Kay Hian	KSH	0.55	0.69	Buy	PB0.93x
08/11/16	Lim & Tan	KSH	0.56	0	Buy
08/11/16	UOB Kay Hian	KSH	0.56	0.69	Buy	PB0.93x
11/09/16	UOB Kay Hian	KSH	0.55	0.69	Buy	PB0.93x
02/10/17	UOB Kay Hian	KSH	0.54	0.69	Buy	PB0.93x
02/13/17	OCBC	KSH	0.54	0.61	Buy
03/08/17	UOB Kay Hian	KSH	0.54	0.69	Buy
04/11/17	UOB Kay Hian	KSH	0.775	1.18	Buy	RNAV (50% discount)
04/12/17	Lim & Tan	KSH	0.78	0	Buy
05/30/17	OCBC	KSH	0.935	0.86	Hold
05/31/17	UOB Kay Hian	KSH	0.915	1.12	Buy	Sum of parts
08/14/17	Lim & Tan	KSH	0.73	0	Hold
09/27/17	OCBC	KSH	0.74	0.69	Hold
10/06/17	Lim & Tan	KSH	0.785	0	Buy
11/06/17	UOB Kay Hian	KSH	0.89	0.87	Hold	Sum of parts
11/13/17	Lim & Tan	KSH	0.86	0	Hold
11/15/17	OCBC	KSH	0.865	0.79	Hold

Stock calls for 24 January 2018

Date	Analyst	Company	Last	Target	Call	Valuation
01/24/18	CIMB	AEM	4.16	5.97	Add	PER10x CY19
01/24/18	DMG & Partners	Avi-Tech	0.48	0.59	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
01/24/18	CIMB	Frasers Commercial Trust	1.52	1.55	Hold	DDM
01/24/18	Phillip	Keppel DC Reit	1.46	1.47	Neutral	DDM
01/24/18	DBS Vickers	Keppel Infrastructure	0.58	0.6	Buy	DDM
01/24/18	Kim Eng	Keppel Reit	1.32	1.19	Hold
01/24/18	UOB Kay Hian	Keppel Reit	1.32	1.43	Buy	DDM
01/24/18	Credit Suisse	Keppel Reit	1.32	0.97	Underperform
01/24/18	CIMB	Keppel Reit	1.32	1.34	Hold	DDM
01/24/18	DBS Vickers	Keppel Reit	1.32	1.41	Buy	DCF
01/24/18	DMG & Partners	Keppel Reit	1.32	1.06	Sell
01/24/18	UOB Kay Hian	M1	1.87	1.84	Hold	DCF, Buy @ $1.7
01/24/18	DMG & Partners	M1	1.87	1.95	Neutral	DCF
01/24/18	OCBC	M1	1.87	1.7	Hold
01/24/18	DBS Vickers	M1	1.87	1.49	Fully Valued
01/24/18	OCBC	Mapletree Industrial	2.07	2.06	Hold
01/24/18	UOB Kay Hian	Mapletree Industrial	2.07	1.88	Hold	DDM
01/24/18	DBS Vickers	Mapletree Industrial	2.07	2.15	Buy
01/24/18	CIMB	Mapletree Logistics	1.38	1.43	Add	DDM
01/24/18	Credit Suisse	Mapletree Logistics	1.38	1.18	Neutral
01/24/18	OCBC	Mapletree Logistics	1.38	1.48	Buy
01/24/18	DBS Vickers	Mapletree Logistics	1.38	1.45	Buy
01/24/18	CLSA	Memtech	1.28	2	Buy	PEG0.45x, PER15x CY18
01/24/18	DMG & Partners	Moya Asia	0.098	0.17	Buy
01/24/18	DMG & Partners	Singapore Medical	0.605	0.79	Buy
01/24/18	DMG & Partners	Venture	23.9	24.1	Buy

What's wrong with Singapore's mindset nowadays?

Instead of telling the recalcitrant Japanese government not to deceive its people but to admit and acknowledge the past atrocities in WW2, Singapore told the world to stop dwelling on it.  There can never be trust between Japan and its neighbours as long as Japan is insincere about its apology especially when millions were killed by the Japanese.

Why was SG protecting and defending the perpetrator, Japan, instead of being empathetic towards other Asian countries?  The reason is very simple:  Japan is USA's ally!

http://sg-stock.blogspot.sg/2017/12/canada-to-proclaim-13-december-as.html

Why couldn't SG act like Canada?

Next, the whole world was silent about the Rohingya crisis for a reason but our MP said that there was not enough awareness about the Rohingya crisis in SG.

http://sg-stock.blogspot.sg/2018/01/singapore-has-no-future-when-weve.html

If the Rohingya crisis becomes a hot international issue, it will become harder for Rohingya to integrate into the Myanmar society.  Why?

Majorities of the Myanmar people and Rohingya do not know the acrimonious history anymore especially the Rohingya because the UK abandoned the Rohingya after using them.  If the world continues to blame Myanmar, the Myanmar historians will come out in defence to publicize the atrocities committed by the Rohingya in the past.  Once the new generation learns about the harsh history, will the Rohingya be welcome in Myanmar?  This new awareness will also make the UK looks bad on the international arena.  Therefore, it is a lose-lose situation if the Rohingya issue becomes a hot international issue.

The western media always put the blame of the Rohingya crisis on the Myanmar government without getting to the core of the issue.  The historical feud was caused by the British but nothing was mentioned in any publication.

Like I said before, the historical feud is very difficult to resolve.  This is the same when it comes to the Diaoyu Island for China & Japan.  The USA planted this seed of hatred between Japan & China after WW2 ended.  Therefore, it's best that SG doesn't get involved in meddling the historical feud between any 2 nations.

Kimly - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/10/17	Lim & Tan	Kimly	0.25	0	Subscribe	IPO
03/13/17	Amfrasers	Kimly	0.25	0	Do not subscribe	No competitive advantage
05/17/17	UOB Kay Hian	Kimly	0.44	0.48	Hold	DCF
08/08/17	UOB Kay Hian	Kimly	0.375	0.46	Buy	DCF
12/07/17	UOB Kay Hian	Kimly	0.355	0.45	Buy	DCF, PER22.8x FY18

Kim Heng - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/25/16	OCBC	Kim Heng	0.075	0.096	Hold	PB0.8x FY16
05/03/16	OCBC	Kim Heng	0.09	0.093	Hold	PB0.8x FY16
08/17/16	OCBC	Kim Heng	0.07	0.089	Hold	PB0.8x FY16/17
11/30/16	OCBC	Kim Heng	0.07	0.09	Hold
03/03/17	OCBC	Kim Heng	0.075	0.089	Hold	PB0.8x FY17