| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/09/17 | DBS Vickers | Keppel Reit | 1.05 | 1.23 | Buy | DCF |
| 01/09/17 | Morgan Stanley | Keppel Reit | 1.05 | 0.9 | Underweight | |
| 01/11/17 | Kim Eng | Keppel Reit | 1.055 | 1.21 | Buy | |
| 01/25/17 | CIMB | Keppel Reit | 1.045 | 1.03 | Hold | DDM |
| 01/25/17 | Credit Suisse | Keppel Reit | 1.045 | 0.97 | Neutral | |
| 01/25/17 | DIR | Keppel Reit | 1.045 | 0.95 | Underperform | DDM |
| 01/25/17 | DMG & Partners | Keppel Reit | 1.045 | 0.99 | Neutral | DDM |
| 01/25/17 | Kim Eng | Keppel Reit | 1.045 | 1.18 | Buy | |
| 01/25/17 | Religare | Keppel Reit | 1.045 | 1.02 | Hold | |
| 01/25/17 | UOB Kay Hian | Keppel Reit | 1.045 | 1.21 | Buy | DDM |
| 02/07/17 | DIR | Keppel Reit | 1.19 | 0.92 | Underperform | DDM |
| 02/09/17 | Credit Suisse | Keppel Reit | 1.02 | 1 | Neutral | |
| 02/17/17 | JP Morgan | Keppel Reit | 1.015 | 1.15 | Overweight | |
| 02/28/17 | Deutsche | Keppel Reit | 1.025 | 1 | Hold | |
| 03/07/17 | UOB Kay Hian | Keppel Reit | 1.02 | 1.21 | Buy | |
| 03/10/17 | DMG & Partners | Keppel Reit | 1.01 | 0.99 | Neutral | |
| 03/17/17 | DBS Vickers | Keppel Reit | 1.015 | 1.23 | Buy | |
| 04/07/17 | DMG & Partners | Keppel Reit | 1.055 | 0.99 | Neutral | DDM |
| 04/11/17 | UOB Kay Hian | Keppel Reit | 1.055 | 1.21 | Buy | |
| 04/18/17 | DIR | Keppel Reit | 1.055 | 0.92 | Underperform | DDM |
| 04/18/17 | Kim Eng | Keppel Reit | 1.055 | 1.18 | Buy | Yield 5.25% |
| 04/20/17 | CIMB | Keppel Reit | 1.07 | 1.09 | Hold | DDM |
| 04/21/17 | DIR | Keppel Reit | 1.05 | 0.94 | Underperform | DDM |
| 05/18/17 | DBS Vickers | Keppel Reit | 1.065 | 1.23 | Buy | |
| 05/18/17 | Deutsche | Keppel Reit | 1.065 | 1.1 | Hold | |
| 05/25/17 | UOB Kay Hian | Keppel Reit | 1.095 | 1.3 | Buy | |
| 06/12/17 | DBS Vickers | Keppel Reit | 1.14 | 1.23 | Buy | |
| 06/22/17 | Deutsche | Keppel Reit | 1.145 | 1.1 | Hold | |
| 06/22/17 | OCBC | Keppel Reit | 1.145 | 1.23 | Buy | |
| 07/03/17 | DIR | Keppel Reit | 1.145 | 0.98 | Underperform | DDM |
| 07/11/17 | Kim Eng | Keppel Reit | 1.15 | 1.18 | Buy | |
| 07/12/17 | DMG & Partners | Keppel Reit | 1.16 | 0.99 | Neutral | |
| 07/19/17 | UOB Kay Hian | Keppel Reit | 1.17 | 1.3 | Buy | DDM |
| 07/19/17 | DMG & Partners | Keppel Reit | 1.17 | 1.05 | Neutral | DDM |
| 07/19/17 | Credit Suisse | Keppel Reit | 1.17 | 0.97 | Underperform | |
| 07/19/17 | CIMB | Keppel Reit | 1.17 | 1.16 | Hold | DDM |
| 07/19/17 | Kim Eng | Keppel Reit | 1.17 | 1.18 | Hold | |
| 07/19/17 | DBS Vickers | Keppel Reit | 1.17 | 1.23 | Buy | DCF |
| 08/01/17 | DBS Vickers | Keppel Reit | 1.16 | 1.23 | Buy | |
| 09/21/17 | DMG & Partners | Keppel Reit | 1.175 | 1.05 | Neutral | |
| 09/25/17 | Kim Eng | Keppel Reit | 1.165 | 1.18 | Hold | |
| 10/19/17 | DMG & Partners | Keppel Reit | 1.195 | 1.05 | Neutral | |
| 10/19/17 | DBS Vickers | Keppel Reit | 1.195 | 1.28 | Buy | DCF |
| 10/19/17 | DIR | Keppel Reit | 1.195 | 0.98 | Underperform | DDM |
| 10/19/17 | UOB Kay Hian | Keppel Reit | 1.195 | 1.3 | Buy | DDM |
| 10/19/17 | CIMB | Keppel Reit | 1.195 | 1.2 | Hold | DDM |
| 11/03/17 | Morgan Stanley | Keppel Reit | 1.175 | 0.95 | Underweight | Target Yield 6.5% |
| 11/28/17 | Macquarie | Keppel Reit | 1.25 | 1.3 | Outperform | |
| 12/01/17 | UOB Kay Hian | Keppel Reit | 1.26 | 1.43 | Buy | |
| 12/18/17 | DBS Vickers | Keppel Reit | 1.25 | 1.39 | Buy | |
| 12/18/17 | Kim Eng | Keppel Reit | 1.25 | 1.19 | Hold | Target yield 5.25%, Up from $1.16 |
| 01/04/18 | Deutsche | Keppel Reit | 1.27 | 1.25 | Hold | |
| 01/05/18 | DMG & Partners | Keppel Reit | 1.27 | 1.05 | Neutral | |
| 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 | DDM |
| 02/14/18 | Deutsche | Keppel Reit | 1.18 | 1.3 | Buy | |
| 03/19/18 | DBS Vickers | Keppel Reit | 1.21 | 1.41 | Buy | |
| 04/19/18 | UOB Kay Hian | Keppel Reit | 1.2 | 1.43 | Buy | DDM |
| 04/19/18 | DBS Vickers | Keppel Reit | 1.2 | 1.41 | Buy | |
| 04/19/18 | Lim & Tan | Keppel Reit | 1.2 | 0 | Hold | |
| 05/17/18 | DMG & Partners | Keppel Reit | 1.18 | 1.06 | Sell |
Wednesday, June 20, 2018
Keppel Reit - Stock calls
Stock calls for 20 June 2018
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 06/20/18 | Kim Eng | Bukit Sembawang | 6.04 | 8.55 | Buy | |
| 06/20/18 | Kim Eng | Capitaland | 3.31 | 4.1 | Buy | |
| 06/20/18 | CIMB | China Aviation Oil | 1.52 | 2.03 | Add | PER12.5x CY19 |
| 06/20/18 | UOB Kay Hian | Citic Envirotech | 0.56 | 1.06 | Buy | DCF, PER11.6x FY19 |
| 06/20/18 | DMG & Partners | Delfi | 1.32 | 1.47 | Buy | DCF |
| 06/20/18 | Kim Eng | Ho Bee | 2.36 | 3.3 | Buy | |
| 06/20/18 | DBS Vickers | Parkway Life | 2.58 | 3.15 | Buy | |
| 06/20/18 | Citi Research | Sasseur | 0.76 | 0.92 | Buy | |
| 06/20/18 | DMG & Partners | Silverlake | 0.52 | 0.65 | Buy | DCF, PERf21x FY19 |
| 06/20/18 | OCBC | Singtel | 3.18 | 4.1 | Buy | PER18.3x FY19 |
| 06/20/18 | Lim & Tan | Top Glove | 3.88 | 0 | Hold | |
| 06/20/18 | Kim Eng | UOL | 7.5 | 10.85 | Buy |
Singapore casinos will face stiffer competitions in Asia now.
https://www.channelnewsasia.com/news/asia/japan-dreams-of-jackpot-with-legal-casinos-10450528
Asia countries are getting on with the gambling industry and are opening new casinos in their own countries. This will definitely impact Singapore casinos because we're all going after the same pool of gamblers.
Asia countries are getting on with the gambling industry and are opening new casinos in their own countries. This will definitely impact Singapore casinos because we're all going after the same pool of gamblers.
Bloomberg doesn't dare to calculate the cost of economic tariffs for USA.
https://www.bloombergquint.com/global-economics/2018/06/20/trump-s-tariffs-could-deliver-a-sizable-hit-to-china-s-economy
The bloomberg article doesn't mention anything about the US damages from the US-China trade war. This is a one-sided article which seeks to extol the US economic clout. In actual fact, the US suffers the same economic damages as China. However, shaving a 0.5% from 6.8% (China) is different from shaving a 0.5% from 3% economic growth (US).
This is the reason for not reporting this differential in the bloomberg article.
The bloomberg article doesn't mention anything about the US damages from the US-China trade war. This is a one-sided article which seeks to extol the US economic clout. In actual fact, the US suffers the same economic damages as China. However, shaving a 0.5% from 6.8% (China) is different from shaving a 0.5% from 3% economic growth (US).
This is the reason for not reporting this differential in the bloomberg article.
Noble shares spike because of Goldilocks.
https://sg.finance.yahoo.com/news/noble-group-says-shareholders-receive-20-percent-equity-004521027--sector.html
Goldilocks agreed to the new restructuring and withdrew its lawsuit against Noble. This is a great news for Noble.
Goldilocks agreed to the new restructuring and withdrew its lawsuit against Noble. This is a great news for Noble.
Tuesday, June 19, 2018
North Korean Kim is back in China again!
https://sg.news.yahoo.com/china-says-north-korean-leader-kim-jong-un-022856010.html
This Kim visit is neither about returning the plane to China nor thanking China. It is about getting support from China again.
This Kim visit is neither about returning the plane to China nor thanking China. It is about getting support from China again.
Keppel KBS - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/15/18 | DBS Vickers | Keppel KBS | 0.905 | 0.95 | Buy | DCF |
| 04/19/18 | DBS Vickers | Keppel KBS | 0.885 | 0.95 | Buy |
Keppel Infrastructure - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/24/17 | DBS Vickers | Keppel Infrastructure | 0.495 | 0.56 | Buy | DCF |
| 01/24/17 | UOB Kay Hian | Keppel Infrastructure | 0.495 | 0.54 | Hold | Buy below $0.475 |
| 04/07/17 | Credit Suisse | Keppel Infrastructure | 0.525 | 0.57 | Outperform | |
| 04/18/17 | DBS Vickers | Keppel Infrastructure | 0.53 | 0.56 | Buy | DCF |
| 07/19/17 | Credit Suisse | Keppel Infrastructure | 0.565 | 0.57 | Neutral | |
| 07/19/17 | DBS Vickers | Keppel Infrastructure | 0.565 | 0.6 | Buy | DDM |
| 10/17/17 | DBS Vickers | Keppel Infrastructure | 0.55 | 0.6 | Buy | DDM |
| 01/23/18 | UOB Kay Hian | Keppel Infrastructure | 0.585 | 0.61 | Buy | |
| 01/24/18 | DBS Vickers | Keppel Infrastructure | 0.58 | 0.6 | Buy | DDM |
| 04/18/18 | DBS Vickers | Keppel Infrastructure | 0.545 | 0.6 | Buy | DDM |
Stock calls for 19 June 2018
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 06/19/18 | DBS Vickers | AIMS AMP Cap Ind Reit | 1.38 | 1.55 | Buy | DCF |
| 06/19/18 | Kim Eng | City Developments | 11.22 | 14.2 | Buy | |
| 06/19/18 | CIMB | City Developments | 11.22 | 13.41 | Add | |
| 06/19/18 | Kim Eng | Guocoland | 2.07 | 3 | Buy | |
| 06/19/18 | UOB Kay Hian | SIA | 11.2 | 11.9 | Hold | PB0.95x, Buy @ $10.9 |
| 06/19/18 | DBS Vickers | Singtel | 3.19 | 3.7 | Buy | Sum of parts |
| 06/19/18 | Kim Eng | Singtel | 3.19 | 3.57 | Hold | |
| 06/19/18 | OCBC | Starhill | 0.66 | 0.65 | Hold |
Anti-Singapore sentiment is brewing in Malaysia after Mahathir became PM.
https://www.thestar.com.my/business/business-news/2018/06/19/guan-eng-lets-give-singapore-some-competition/
When the head of a nation is anti-Singapore, the rest of the ministers will follow.
When the head of a nation is anti-Singapore, the rest of the ministers will follow.
US-China trade war is back! - Part 2
Trump has decided to impose a further 10% tariffs against $200b of China imports after the first salvo of $50b.
China will not back down but retaliate against the additional tariffs. Trump has underestimated China's strong resolution and capabilities and this trade war will end very badly for the USA.
http://sg-stock.blogspot.com/2018/06/us-china-trade-war-is-back.html
China will not back down but retaliate against the additional tariffs. Trump has underestimated China's strong resolution and capabilities and this trade war will end very badly for the USA.
http://sg-stock.blogspot.com/2018/06/us-china-trade-war-is-back.html
Foreigners are dumping US treasuries!
https://www.cnbc.com/2018/06/18/russia-cuts-treasury-holdings-in-half-as-foreigners-start-losing-appetite-for-us-debt.html?__source=yahoo%7Cfinance%7Cheadline%7Cstory%7C&par=yahoo&yptr=yahoo
If the trend of dumping US treasuries continues, the US interest rates will need to rise sharply to retain current investors and attract new investors.
The foreigners are losing faith and confidence in the USA's resiliency.
It is a fact that the USA is unable to repay its national debt of US$21T and this awakening is starting to unfold now.
If the trend of dumping US treasuries continues, the US interest rates will need to rise sharply to retain current investors and attract new investors.
The foreigners are losing faith and confidence in the USA's resiliency.
It is a fact that the USA is unable to repay its national debt of US$21T and this awakening is starting to unfold now.
Monday, June 18, 2018
The KL-SG HSR is terminated officially but the Malaysia government doesn't want to admit it.
https://www.thestar.com.my/business/business-news/2018/06/18/hsr-alternative-for-only-rm20bil/
The Malaysian government said that the KL-SG HSR was postponed but not terminated in its latest statement. If the KL-SG HSR is not terminated or scrapped, the project specifications will still be the same if this is executed in the future. However, the Malaysian government is trying to propose a different system on its existing railway. This is definitely not the same HSR system.
The Malaysian government is trying to avoid paying the $500m ringgit termination fee to SG by tweaking the project specifications. What's the point for SG to build a HSR for 15km in SG whilst the Malaysian government is using a different system for its 335km?
http://sg-stock.blogspot.com/2018/06/mahathir-is-so-sly-and-flip-flop-to.html
I already knew Mahathir won't go easy on SG and would continue to skin SG alive.
The Malaysian government said that the KL-SG HSR was postponed but not terminated in its latest statement. If the KL-SG HSR is not terminated or scrapped, the project specifications will still be the same if this is executed in the future. However, the Malaysian government is trying to propose a different system on its existing railway. This is definitely not the same HSR system.
The Malaysian government is trying to avoid paying the $500m ringgit termination fee to SG by tweaking the project specifications. What's the point for SG to build a HSR for 15km in SG whilst the Malaysian government is using a different system for its 335km?
http://sg-stock.blogspot.com/2018/06/mahathir-is-so-sly-and-flip-flop-to.html
I already knew Mahathir won't go easy on SG and would continue to skin SG alive.
Singapore NODX increased 15.5% in May 2018
http://www.xinhuanet.com/english/2018-06/18/c_137261824.htm
Year on year changes (YOY):
May 2018: 15.5%
April 2018: 11.8%
March 2018: -2.7%
February 2018: -5.9%
January 2018: 13%
December 2017: 3.1%
November 2017: 9.1%
October 2017: 20.9%
September 2017: -1.1%
August 2017: 16.7%
July 2017: 8.5%
June 2017: 8.2%
May 2017: -1.2%
Apr 2017: -0.7%
Mar 2017: 16.5%
Feb 2017: 21.1%
Jan 2017: 8.6%
May 2017: -1.2%
Apr 2017: -0.7%
Mar 2017: 16.5%
Feb 2017: 21.1%
Jan 2017: 8.6%
Keppel DC Reit - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/09/17 | CIMB | Keppel DC Reit | 1.23 | 1.18 | Hold | DDM |
| 01/09/17 | DBS Vickers | Keppel DC Reit | 1.23 | 1.33 | Buy | DCF |
| 01/09/17 | Deutsche | Keppel DC Reit | 1.23 | 1.2 | Hold | |
| 01/24/17 | CIMB | Keppel DC Reit | 1.215 | 1.21 | Hold | DDM |
| 01/24/17 | Lim & Tan | Keppel DC Reit | 1.215 | 0 | Hold | |
| 01/24/17 | OCBC | Keppel DC Reit | 1.215 | 1.39 | Buy | |
| 01/25/17 | Credit Suisse | Keppel DC Reit | 1.205 | 1.31 | Outperform | |
| 01/25/17 | DBS Vickers | Keppel DC Reit | 1.205 | 1.3 | Buy | DCF |
| 01/25/17 | Phillip | Keppel DC Reit | 1.205 | 1.15 | Hold | DDM, PB1.21x FY17 |
| 02/17/17 | JP Morgan | Keppel DC Reit | 1.165 | 1.25 | Overweight | |
| 02/20/17 | Phillip | Keppel DC Reit | 1.175 | 1.15 | Neutral | |
| 02/28/17 | Deutsche | Keppel DC Reit | 1.165 | 1.2 | Hold | |
| 03/01/17 | CIMB | Keppel DC Reit | 1.18 | 1.21 | Add | DDM |
| 03/06/17 | OCBC | Keppel DC Reit | 1.165 | 1.39 | Buy | |
| 03/17/17 | DBS Vickers | Keppel DC Reit | 1.195 | 1.3 | Buy | |
| 04/03/17 | OCBC | Keppel DC Reit | 1.2 | 1.39 | Buy | |
| 04/07/17 | Lim & Tan | Keppel DC Reit | 1.215 | 0 | Buy | |
| 04/18/17 | CIMB | Keppel DC Reit | 1.225 | 1.26 | Add | DDM |
| 04/18/17 | Credit Suisse | Keppel DC Reit | 1.225 | 1.31 | Outperform | |
| 04/18/17 | Lim & Tan | Keppel DC Reit | 1.225 | 0 | Hold | |
| 04/18/17 | Phillip | Keppel DC Reit | 1.225 | 1.15 | Neutral | DDM |
| 05/08/17 | Phillip | Keppel DC Reit | 1.24 | 1.15 | Neutral | |
| 05/18/17 | DBS Vickers | Keppel DC Reit | 1.23 | 1.3 | Buy | |
| 05/29/17 | OCBC | Keppel DC Reit | 1.28 | 1.39 | Buy | |
| 06/22/17 | Deutsche | Keppel DC Reit | 1.26 | 1.2 | Hold | |
| 07/18/17 | Phillip | Keppel DC Reit | 1.32 | 1.28 | Hold | DDM, PB1.35x FY17 |
| 07/18/17 | Credit Suisse | Keppel DC Reit | 1.32 | 1.47 | Outperform | |
| 07/18/17 | OCBC | Keppel DC Reit | 1.32 | 1.39 | Buy | DDM |
| 07/18/17 | CIMB | Keppel DC Reit | 1.32 | 1.28 | Hold | DDM |
| 07/19/17 | DBS Vickers | Keppel DC Reit | 1.33 | 1.4 | Buy | |
| 08/18/17 | Phillip | Keppel DC Reit | 1.275 | 1.28 | Neutral | DDM, PB1.35x FY17 |
| 08/22/17 | OCBC | Keppel DC Reit | 1.285 | 1.39 | Buy | |
| 09/04/17 | CIMB | Keppel DC Reit | 1.285 | 1.28 | Hold | |
| 09/13/17 | DBS Vickers | Keppel DC Reit | 1.295 | 1.44 | Buy | |
| 09/14/17 | Phillip | Keppel DC Reit | 1.29 | 1.31 | Neutral | DDM, PB1.37x FY17 |
| 09/14/17 | Lim & Tan | Keppel DC Reit | 1.29 | 0 | Hold | |
| 09/26/17 | CIMB | Keppel DC Reit | 1.305 | 1.36 | Add | |
| 10/17/17 | Phillip | Keppel DC Reit | 1.35 | 1.36 | Neutral | DDM, PB1.42x FY17 |
| 10/17/17 | OCBC | Keppel DC Reit | 1.35 | 1.39 | Buy | |
| 10/17/17 | Lim & Tan | Keppel DC Reit | 1.35 | 0 | Hold | |
| 10/17/17 | CIMB | Keppel DC Reit | 1.35 | 1.37 | Hold | |
| 10/19/17 | DBS Vickers | Keppel DC Reit | 1.345 | 1.44 | Buy | DCF |
| 11/20/17 | OCBC | Keppel DC Reit | 1.4 | 1.5 | Buy | PB1.47x FY18 |
| 01/23/18 | OCBC | Keppel DC Reit | 1.47 | 1.51 | Hold | |
| 01/23/18 | Lim & Tan | Keppel DC Reit | 1.47 | 0 | Hold | |
| 01/23/18 | CIMB | Keppel DC Reit | 1.47 | 1.44 | Hold | |
| 01/23/18 | DBS Vickers | Keppel DC Reit | 1.47 | 1.6 | Buy | DCF |
| 01/24/18 | Phillip | Keppel DC Reit | 1.46 | 1.47 | Neutral | DDM |
| 02/12/18 | Phillip | Keppel DC Reit | 1.34 | 1.47 | Neutral | DDM |
| 03/19/18 | DBS Vickers | Keppel DC Reit | 1.4 | 1.6 | Buy | |
| 04/03/18 | CIMB | Keppel DC Reit | 1.43 | 1.52 | Add | DDM |
| 04/17/18 | Phillip | Keppel DC Reit | 1.46 | 1.47 | Neutral | DDM |
| 04/17/18 | CIMB | Keppel DC Reit | 1.46 | 1.47 | Add | DDM |
| 04/17/18 | OCBC | Keppel DC Reit | 1.46 | 1.5 | Hold | |
| 04/17/18 | DBS Vickers | Keppel DC Reit | 1.46 | 1.6 | Buy | |
| 04/17/18 | Credit Suisse | Keppel DC Reit | 1.46 | 1.56 | Outperform | |
| 05/08/18 | Phillip | Keppel DC Reit | 1.43 | 1.51 | Accumulate | DDM |
| 05/08/18 | Deutsche | Keppel DC Reit | 1.43 | 1.3 | Hold | |
| 05/08/18 | Credit Suisse | Keppel DC Reit | 1.43 | 1.56 | Outperform | |
| 05/08/18 | CIMB | Keppel DC Reit | 1.43 | 1.49 | Add | DDM |
| 05/08/18 | OCBC | Keppel DC Reit | 1.43 | 1.54 | Buy | |
| 05/21/18 | Phillip | Keppel DC Reit | 1.36 | 1.51 | Accumulate |
Keppel Corp - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/03/17 | DMG & Partners | Keppel Corp | 5.79 | 6.52 | Buy | Sum of parts |
| 01/05/17 | Deutsche | Keppel Corp | 5.82 | 5.9 | Hold | Sum of parts (15% discount) |
| 01/16/17 | DIR | Keppel Corp | 6.12 | 5.72 | Hold | |
| 01/25/17 | Credit Suisse | Keppel Corp | 6.36 | 5 | Underperform | |
| 01/27/17 | CIMB | Keppel Corp | 6.38 | 5.21 | Reduce | RNAV |
| 01/27/17 | DIR | Keppel Corp | 6.38 | 5.93 | Hold | Sum of parts (10% discount) |
| 01/27/17 | DMG & Partners | Keppel Corp | 6.38 | 7.39 | Buy | Sum of parts, PER10x FY17 |
| 01/27/17 | Lim & Tan | Keppel Corp | 6.38 | 0 | Sell | Bloomberg consensus $5.79 |
| 01/27/17 | OCBC | Keppel Corp | 6.38 | 6.26 | Hold | |
| 01/27/17 | UOB Kay Hian | Keppel Corp | 6.38 | 6.45 | Hold | Sum of parts, Buy @ $5.90 |
| 01/31/17 | Amfrasers | Keppel Corp | 6.27 | 6.5 | Hold | Sum of parts |
| 01/31/17 | DBS Vickers | Keppel Corp | 6.27 | 6 | Hold | Sum of parts |
| 02/17/17 | CLSA | Keppel Corp | 6.53 | 7.6 | Buy | |
| 02/22/17 | OCBC | Keppel Corp | 6.57 | 7.4 | Buy | |
| 03/01/17 | Credit Suisse | Keppel Corp | 6.81 | 8.7 | Outperform | Sum of parts |
| 03/14/17 | DIR | Keppel Corp | 6.75 | 6.44 | Hold | Sum of parts |
| 03/14/17 | Deutsche | Keppel Corp | 6.75 | 6.4 | Hold | |
| 03/20/17 | DBS Vickers | Keppel Corp | 6.87 | 6 | Hold | Sum of parts, PB0.9x FY17 |
| 03/20/17 | UOB Kay Hian | Keppel Corp | 6.87 | 6.45 | Hold | Sum of parts, Buy @ $6.10 |
| 03/21/17 | CIMB | Keppel Corp | 6.85 | 7.24 | Hold | Sum of parts |
| 03/22/17 | DMG & Partners | Keppel Corp | 6.83 | 7.77 | Buy | Sum of parts, PER10.6x FY17 |
| 03/22/17 | OCBC | Keppel Corp | 6.83 | 7.4 | Buy | |
| 03/22/17 | UOB Kay Hian | Keppel Corp | 6.83 | 6.98 | Hold | Sum of parts, Buy @ $6.25 |
| 04/07/17 | Credit Suisse | Keppel Corp | 6.84 | 8.7 | Outperform | |
| 04/11/17 | Lim & Tan | Keppel Corp | 6.96 | 0 | Hold | |
| 04/21/17 | CIMB | Keppel Corp | 6.55 | 7.24 | Hold | Sum of parts |
| 04/21/17 | DIR | Keppel Corp | 6.55 | 6.44 | Hold | Sum of parts (10% discount) |
| 04/21/17 | OCBC | Keppel Corp | 6.55 | 7.36 | Buy | PB1.1x |
| 04/21/17 | UOB Kay Hian | Keppel Corp | 6.55 | 6.55 | Hold | Sum of parts, Buy @ $5.90 |
| 04/24/17 | DBS Vickers | Keppel Corp | 6.56 | 6 | Hold | Sum of parts, PB0.9x FY17 |
| 04/24/17 | DMG & Partners | Keppel Corp | 6.56 | 7.56 | Buy | Sum of parts |
| 04/25/17 | Amfrasers | Keppel Corp | 6.51 | 7.02 | Buy | Sum of parts |
| 04/28/17 | Macquarie | Keppel Corp | 6.57 | 5.8 | Neutral | |
| 05/24/17 | UOB Kay Hian | Keppel Corp | 6.55 | 6.55 | Hold | |
| 05/30/17 | DMG & Partners | Keppel Corp | 6.48 | 7.55 | Buy | Sum of parts |
| 06/02/17 | OCBC | Keppel Corp | 6.46 | 7.36 | Buy | Sum of parts (10% discount) |
| 06/20/17 | UOB Kay Hian | Keppel Corp | 6.31 | 6.55 | Hold | |
| 06/30/17 | DMG & Partners | Keppel Corp | 6.36 | 7.34 | Buy | Sum of parts |
| 07/04/17 | Credit Suisse | Keppel Corp | 6.32 | 8.7 | Outperform | |
| 07/05/17 | DIR | Keppel Corp | 6.34 | 6.44 | Hold | Sum of parts |
| 07/05/17 | OCBC | Keppel Corp | 6.34 | 7.36 | Buy | |
| 07/07/17 | UOB Kay Hian | Keppel Corp | 6.4 | 6.55 | Hold | Sum of parts, Buy @ $5.90 |
| 07/21/17 | UOB Kay Hian | Keppel Corp | 6.53 | 6.86 | Hold | Sum of parts, Buy @ $6.20 |
| 07/21/17 | CIMB | Keppel Corp | 6.53 | 7.24 | Hold | Sum of parts |
| 07/21/17 | DIR | Keppel Corp | 6.53 | 6.39 | Hold | Sum of parts |
| 07/21/17 | DBS Vickers | Keppel Corp | 6.53 | 7.6 | Buy | Sum of parts, PB1.1x FY17 |
| 07/21/17 | Lim & Tan | Keppel Corp | 6.53 | 0 | Hold | |
| 07/24/17 | Macquarie | Keppel Corp | 6.58 | 5.8 | Neutral | |
| 07/24/17 | Amfrasers | Keppel Corp | 6.58 | 7.61 | Buy | Sum of parts |
| 08/01/17 | Credit Suisse | Keppel Corp | 6.41 | 8.7 | Outperform | PER12.1x FY17, PB0.9x |
| 08/18/17 | Lim & Tan | Keppel Corp | 6.33 | 0 | Hold | |
| 08/18/17 | DBS Vickers | Keppel Corp | 6.33 | 7.6 | Buy | Sum of parts |
| 08/25/17 | CIMB | Keppel Corp | 6.36 | 7.24 | Hold | Sum of parts |
| 08/25/17 | Morgan Stanley | Keppel Corp | 6.36 | 6.18 | Equal Weight | Sum of parts |
| 08/29/17 | DMG & Partners | Keppel Corp | 6.39 | 7.34 | Buy | Sum of parts |
| 09/13/17 | OCBC | Keppel Corp | 6.27 | 7.36 | Buy | |
| 09/15/17 | UOB Kay Hian | Keppel Corp | 6.29 | 6.86 | Hold | |
| 09/20/17 | DBS Vickers | Keppel Corp | 6.38 | 7.6 | Buy | Sum of parts |
| 09/20/17 | Deutsche | Keppel Corp | 6.38 | 7.5 | Buy | |
| 09/27/17 | Credit Suisse | Keppel Corp | 6.46 | 8.7 | Outperform | |
| 10/02/17 | UOB Kay Hian | Keppel Corp | 6.49 | 6.71 | Hold | |
| 10/05/17 | Lim & Tan | Keppel Corp | 6.52 | 0 | Buy | |
| 10/06/17 | OCBC | Keppel Corp | 6.59 | 7.36 | Buy | |
| 10/09/17 | DBS Vickers | Keppel Corp | 6.68 | 7.6 | Buy | |
| 10/11/17 | Credit Suisse | Keppel Corp | 6.77 | 8.7 | Outperform | Sum of parts |
| 10/13/17 | CIMB | Keppel Corp | 6.79 | 8.58 | Add | Sum of parts |
| 10/20/17 | OCBC | Keppel Corp | 7.02 | 7.73 | Buy | |
| 10/20/17 | Amfrasers | Keppel Corp | 7.02 | 7.61 | Buy | Sum of parts |
| 10/20/17 | UOB Kay Hian | Keppel Corp | 7.02 | 8.35 | Buy | Sum of parts |
| 10/20/17 | Lim & Tan | Keppel Corp | 7.02 | 0 | Buy | |
| 10/23/17 | DMG & Partners | Keppel Corp | 7.3 | 7.92 | Buy | Sum of parts |
| 10/27/17 | OCBC | Keppel Corp | 7.4 | 8.31 | Buy | Sum of parts |
| 11/03/17 | Morgan Stanley | Keppel Corp | 7.66 | 6.18 | Equal Weight | Sum of parts |
| 11/09/17 | UOB Kay Hian | Keppel Corp | 7.57 | 8.35 | Buy | |
| 11/09/17 | Deutsche | Keppel Corp | 7.57 | 8.6 | Buy | |
| 11/17/17 | CIMB | Keppel Corp | 7.28 | 8.58 | Add | |
| 11/24/17 | Lim & Tan | Keppel Corp | 7.59 | 0 | Buy | |
| 11/29/17 | OCBC | Keppel Corp | 7.74 | 8.41 | Buy | |
| 12/04/17 | Lim & Tan | Keppel Corp | 7.76 | 0 | Buy | |
| 12/08/17 | UOB Kay Hian | Keppel Corp | 7.49 | 8.98 | Buy | Sum of parts |
| 12/18/17 | Amfrasers | Keppel Corp | 7.53 | 8.67 | Buy | Sum of parts |
| 12/20/17 | CIMB | Keppel Corp | 7.5 | 8.58 | Add | Sum of parts |
| 12/26/17 | Amfrasers | Keppel Corp | 7.47 | 8.04 | Buy | Sum of parts |
| 12/26/17 | OCBC | Keppel Corp | 7.47 | 8.12 | Buy | Sum of parts (10% discount) |
| 12/26/17 | Lim & Tan | Keppel Corp | 7.47 | 0 | Hold | |
| 12/27/17 | Deutsche | Keppel Corp | 7.29 | 8.1 | Buy | Sum of parts (20% discount) |
| 01/02/18 | UOB Kay Hian | Keppel Corp | 7.35 | 8.75 | Buy | Sum of parts |
| 01/02/18 | CIMB | Keppel Corp | 7.35 | 8.58 | Add | Sum of parts |
| 01/09/18 | DBS Vickers | Keppel Corp | 7.77 | 9.8 | Buy | Sum of parts, PB1.3x FY18 |
| 01/10/18 | Amfrasers | Keppel Corp | 7.85 | 8.04 | Buy | |
| 01/10/18 | Deutsche | Keppel Corp | 7.85 | 8.5 | Buy | |
| 01/22/18 | OCBC | Keppel Corp | 8.25 | 9.32 | Buy | |
| 01/23/18 | DBS Vickers | Keppel Corp | 8.29 | 10.3 | Buy | Sum of parts, PB1.3x 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 |
| 02/02/18 | Deutsche | Keppel Corp | 8.7 | 8.4 | Hold | |
| 02/07/18 | CIMB | Keppel Corp | 8.19 | 10 | Add | |
| 02/13/18 | UOB Kay Hian | Keppel Corp | 7.8 | 9.3 | Buy | |
| 02/13/18 | DBS Vickers | Keppel Corp | 7.8 | 10.2 | Buy | |
| 03/02/18 | UOB Kay Hian | Keppel Corp | 8.01 | 9.3 | Buy | |
| 03/05/18 | Credit Suisse | Keppel Corp | 7.87 | 10 | Outperform | |
| 03/05/18 | CIMB | Keppel Corp | 7.87 | 10 | Add | Sum of parts |
| 03/05/18 | OCBC | Keppel Corp | 7.87 | 9.45 | Buy | |
| 03/06/18 | DBS Vickers | Keppel Corp | 7.63 | 10.2 | Buy | Sum of parts |
| 03/12/18 | Lim & Tan | Keppel Corp | 7.73 | 0 | Buy | |
| 03/12/18 | Amfrasers | Keppel Corp | 7.73 | 8.04 | Buy | |
| 03/21/18 | UOB Kay Hian | Keppel Corp | 7.77 | 9.1 | Buy | Sum of parts |
| 03/26/18 | Morgan Stanley | Keppel Corp | 7.72 | 9.45 | Overweight | Sum of parts, Up from $9.01 |
| 04/03/18 | CIMB | Keppel Corp | 7.8 | 10 | Add | Sum of parts |
| 04/03/18 | UOB Kay Hian | Keppel Corp | 7.8 | 9.1 | Buy | |
| 04/03/18 | DBS Vickers | Keppel Corp | 7.8 | 10.2 | Buy | |
| 04/11/18 | OCBC | Keppel Corp | 7.81 | 9.45 | Buy | Sum of parts |
| 04/20/18 | UOB Kay Hian | Keppel Corp | 8.07 | 9 | Buy | Sum of parts |
| 04/20/18 | Lim & Tan | Keppel Corp | 8.07 | 0 | Hold | |
| 04/23/18 | Amfrasers | Keppel Corp | 8.21 | 9.43 | Buy | Sum of parts |
| 05/03/18 | UOB Kay Hian | Keppel Corp | 8.15 | 9 | Buy | Sum of parts |
| 05/03/18 | OCBC | Keppel Corp | 8.15 | 9.4 | Buy | |
| 05/08/18 | Credit Suisse | Keppel Corp | 8.13 | 10 | Outperform | |
| 05/22/18 | CIMB | Keppel Corp | 8.19 | 10 | Add | Sum of parts |
| 06/04/18 | UOB Kay Hian | Keppel Corp | 7.65 | 9 | Buy | |
| 06/05/18 | DBS Vickers | Keppel Corp | 7.75 | 10.2 | Buy |
Stock calls for 18 June 2018
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 06/18/18 | DBS Vickers | APAC Realty | 0.815 | 1.22 | Buy | DCF |
| 06/18/18 | NRA | Asian Healthcare | 0.27 | 0.355 | Not Rated | PER24.2x FY19, EV/Ebitda16.18x FY19, Mid-point of target $0.33-$0.38 |
| 06/18/18 | OCBC | Far East Hospitality | 0.67 | 0.735 | Buy | |
| 06/18/18 | Lim & Tan | Ho Bee | 2.37 | 0 | Buy | |
| 06/18/18 | OCBC | Hotel Properties | 3.73 | 4.74 | Buy | |
| 06/18/18 | CIMB | Singtel | 3.19 | 3.9 | Add |
Bank for International Settlement has issued an opinion on Crypto.
https://www.bloombergquint.com/markets/2018/06/17/bitcoin-could-break-the-internet-central-banks-overseer-says
https://sg.news.yahoo.com/bigger-cryptocurrencies-worse-perform-bis-161234718--sector.html
First of all, BIS is the central bank of all central banks. Therefore, its opinion is highly valued and followed by other central banks.
The latest opinion on decentralized crypto is definitely negative for the Crypto industry.
https://sg.news.yahoo.com/bigger-cryptocurrencies-worse-perform-bis-161234718--sector.html
First of all, BIS is the central bank of all central banks. Therefore, its opinion is highly valued and followed by other central banks.
The latest opinion on decentralized crypto is definitely negative for the Crypto industry.
Sunday, June 17, 2018
The forces of nature - Heavy rainfall in Austria.
Saturday, June 16, 2018
Canada is leading the pack to boycott US goods.
https://www.channelnewsasia.com/news/business/at-odds-with-trump-over-trade--canadians-say-they-will-avoid-us-goods--poll-10437876
Kudos to Canada!
Let's support Canada's move and boycott US goods to show Trump that "America First" policy won't work. The world will show Trump that "America First" will become "America Last".
Kudos to Canada!
Let's support Canada's move and boycott US goods to show Trump that "America First" policy won't work. The world will show Trump that "America First" will become "America Last".
Bike sharing business concept is not working in Singapore anymore.
http://theindependent.sg/bike-sharing-companies-might-have-to-cycle-out-of-singapore-markets-due-to-new-legislation/
We've stated before that this kind of business concept is flawed and won't be sustainable. Therefore, we're not surprised that they're downsizing and getting out of SG.
https://sg-stock.blogspot.com/2017/08/shared-bikes-business-model-is-flawed.html
We've stated before that this kind of business concept is flawed and won't be sustainable. Therefore, we're not surprised that they're downsizing and getting out of SG.
https://sg-stock.blogspot.com/2017/08/shared-bikes-business-model-is-flawed.html
The stock market will start in the red next week.
https://finance.yahoo.com/news/latest-china-says-retaliate-us-tariffs-080311519--finance.html
The stock market will start in the red next week because of the USA waging a trade war with China.
There is no way for China not to take retaliatory actions against the USA because of national pride and interest. If Trump thinks that the USA will win this trade war, he is dead wrong because the Chinese citizens have deeper pockets than US citizens and can last longer than the Americans. Furthermore, Trump has an election coming up but President Xi doesn't have an election in China. Therefore, President Xi has no political pressure to cave in to Trump.
The stock market will start in the red next week because of the USA waging a trade war with China.
There is no way for China not to take retaliatory actions against the USA because of national pride and interest. If Trump thinks that the USA will win this trade war, he is dead wrong because the Chinese citizens have deeper pockets than US citizens and can last longer than the Americans. Furthermore, Trump has an election coming up but President Xi doesn't have an election in China. Therefore, President Xi has no political pressure to cave in to Trump.
Baltic dry index - 1445
Today, Friday, June 15 2018, the Baltic Dry Index climbed by 12 points, reaching 1445 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.
===============
Related stocks: Sembcorp Marine, Cosco & Pan Ocean
US rig count - 1059
HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. decreased by three this week to 1,059.
At this time a year ago there were 933 active rigs.
Houston oilfield services company Baker Hughes reported Friday that 863 rigs drilled for oil this week and 194 for gas. Two were listed as miscellaneous.
Among major oil- and gas-producing states, New Mexico and North Dakota each added three rigs and Louisiana gained one.
Texas lost four rigs, Alaska declined by two and Colorado, Ohio, Pennsylvania and West Virginia each lost one.
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
Friday, June 15, 2018
US-China trade war is back!
https://sg.finance.yahoo.com/news/trump-meet-top-trade-advisers-activation-china-tariffs-215136078--business.html
Trump is reactivating his US-China trade war after settling Kim in Singapore.
China has stated clearly that it is ready for the trade war. Let's see how this will pan out.
Trump is reactivating his US-China trade war after settling Kim in Singapore.
China has stated clearly that it is ready for the trade war. Let's see how this will pan out.
OPEC will face a formidable nemesis in the future.
https://finance.yahoo.com/news/india-china-look-form-oil-220000529.html
It is a great news for all oil-importing countries because India & China will form an "Oil buyers' club" to negotiate with OPEC.
OPEC has been imposing discriminating pricing strategy on Asian countries with ASIAN PREMIUM measure because we have no bargaining power. In the future, we can say NO to OPEC's pricing with this new club's prowess.
Kudos to India & China for making Asia a more competitive region.
It is a great news for all oil-importing countries because India & China will form an "Oil buyers' club" to negotiate with OPEC.
OPEC has been imposing discriminating pricing strategy on Asian countries with ASIAN PREMIUM measure because we have no bargaining power. In the future, we can say NO to OPEC's pricing with this new club's prowess.
Kudos to India & China for making Asia a more competitive region.
Thursday, June 14, 2018
K1 Ventures - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 03/15/17 | DMG & Partners | K1 Ventures | 0.835 | 0 | Take Profit |
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