Wilmar - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	Wilmar	3.59	3.28	Neutral
01/11/17	DBS Vickers	Wilmar	3.67	3.39	Hold
02/01/17	UOB Kay Hian	Wilmar	3.88	3.5	Sell	Sum of parts, PER12.1x FY17
02/13/17	DBS Vickers	Wilmar	3.93	3.39	Hold
02/21/17	CIMB	Wilmar	3.9	3.93	Hold	Sum of parts
02/21/17	Credit Suisse	Wilmar	3.9	3.73	Neutral
02/22/17	DMG & Partners	Wilmar	3.78	3.56	Neutral	Sum of parts
02/22/17	OCBC	Wilmar	3.78	3.7	Hold	PER14x FY17
03/02/17	UOB Kay Hian	Wilmar	3.65	3.5	Sell	Sum of parts, PER12.1x FY17, Buy @ $3.20
03/13/17	DBS Vickers	Wilmar	3.58	3.9	Hold
04/11/17	DBS Vickers	Wilmar	3.52	3.9	Hold
04/11/17	DMG & Partners	Wilmar	3.52	3.62	Neutral
04/13/17	Credit Suisse	Wilmar	3.52	3.5	Neutral
05/05/17	UOB Kay Hian	Wilmar	3.47	3.5	Hold	Sum of parts, PER12.1x FY17, Buy @ $3.20
05/12/17	CIMB	Wilmar	3.43	3.93	Add	Sum of parts
05/12/17	Credit Suisse	Wilmar	3.43	3.5	Neutral
05/12/17	OCBC	Wilmar	3.43	3.7	Hold
05/15/17	CIMB	Wilmar	3.76	4.52	Add	Sum of parts
05/15/17	DMG & Partners	Wilmar	3.76	3.62	Neutral	DCF, PER13x
05/15/17	Macquarie	Wilmar	3.76	3.7	Neutral
05/15/17	UOB Kay Hian	Wilmar	3.76	4.4	Buy	Sum of parts, PER20x
05/16/17	Credit Suisse	Wilmar	3.82	3.9	Neutral	Sum of parts
05/16/17	DBS Vickers	Wilmar	3.82	3.9	Hold	DCF
06/14/17	UOB Kay Hian	Wilmar	3.51	4.4	Buy	Sum of parts
07/11/17	DBS Vickers	Wilmar	3.32	3.9	Hold
08/11/17	CIMB	Wilmar	3.42	4.52	Add	Sum of parts
08/11/17	DMG & Partners	Wilmar	3.42	3.43	Neutral	Sum of parts
08/11/17	OCBC	Wilmar	3.42	3.66	Hold
08/14/17	DBS Vickers	Wilmar	3.2	3.52	Hold	DCF
08/15/17	Credit Suisse	Wilmar	3.2	3.5	Neutral	PER15x FY17
08/28/17	DIR	Wilmar	3.22	3.82	Buy	PER15x FY17/18
09/05/17	DBS Vickers	Wilmar	3.25	3.52	Hold	DCF
09/07/17	OCBC	Wilmar	3.27	3.68	Hold
10/31/17	UOB Kay Hian	Wilmar	3.4	4.1	Buy	Sum of parts, PER14x FY18
11/13/17	DBS Vickers	Wilmar	3.31	3.52	Hold
11/14/17	UOB Kay Hian	Wilmar	3.32	4.1	Buy	Sum of parts, PER14x FY18
11/14/17	DMG & Partners	Wilmar	3.32	3.33	Neutral	Sum of parts
11/14/17	CIMB	Wilmar	3.32	4.27	Add	Sum of parts
11/14/17	OCBC	Wilmar	3.32	3.51	Hold
11/16/17	DBS Vickers	Wilmar	3.22	3.5	Hold	DCF, PER15x FY18
12/13/17	DMG & Partners	Wilmar	3.11	3.31	Neutral	Sum of parts
12/20/17	CIMB	Wilmar	3.1	4.27	Add
01/04/18	CIMB	Wilmar	3.16	4.27	Add
01/15/18	DBS Vickers	Wilmar	3.16	3.5	Hold
01/16/18	UOB Kay Hian	Wilmar	3.19	4.1	Buy	Sum of parts, PER14x FY18
02/23/18	CIMB	Wilmar	3.04	4.1	Add	Sum of parts
02/23/18	UOB Kay Hian	Wilmar	3.04	4.1	Buy	Sum of parts, PER14x FY18
02/23/18	OCBC	Wilmar	3.04	3.51	Hold	PER13.5x FY18/19
02/26/18	DBS Vickers	Wilmar	3.13	3.65	Buy	DCF
02/26/18	DMG & Partners	Wilmar	3.13	3.45	Buy	Sum of parts
03/05/18	CIMB	Wilmar	3.18	4.1	Add	Sum of parts
03/07/18	UOB Kay Hian	Wilmar	3.16	4.1	Buy	Sum of parts
03/08/18	OCBC	Wilmar	3.18	3.51	Buy
03/14/18	DBS Vickers	Wilmar	3.23	3.65	Buy
04/03/18	DBS Vickers	Wilmar	3.21	3.65	Buy
04/05/18	DMG & Partners	Wilmar	3.08	3.45	Buy
04/06/18	CIMB	Wilmar	3.1	4.1	Add
04/30/18	UOB Kay Hian	Wilmar	3.26	4.1	Buy	Sum of parts, PER14x FY18
05/11/18	CIMB	Wilmar	3.21	4.1	Add	Sum of parts
05/11/18	UOB Kay Hian	Wilmar	3.21	4.1	Buy	Sum of parts, PER14x FY18
05/11/18	DMG & Partners	Wilmar	3.21	3.45	Buy
05/14/18	UOB Kay Hian	Wilmar	3.16	3.9	Buy	Sum of parts, PER14.5x FY18
05/14/18	DBS Vickers	Wilmar	3.16	3.65	Buy	DCF, PER14.4x FY18
05/14/18	OCBC	Wilmar	3.16	3.51	Buy
05/14/18	DMG & Partners	Wilmar	3.16	3.59	Buy	Sum of parts
06/05/18	DBS Vickers	Wilmar	3.28	3.65	Buy
06/21/18	UOB Kay Hian	Wilmar	3.12	3.9	Buy
06/27/18	OCBC	Wilmar	3.06	3.51	Buy
07/03/18	UOB Kay Hian	Wilmar	3.04	3.9	Buy	PER14.5x FY18
07/03/18	DBS Vickers	Wilmar	3.04	3.5	Buy	DCF
07/04/18	DMG & Partners	Wilmar	3.07	3.59	Buy	Sum of parts
08/02/18	DMG & Partners	Wilmar	3.15	3.51	Buy	Sum of parts
08/14/18	UOB Kay Hian	Wilmar	3.13	3.9	Buy	PER14.5x FY18
08/14/18	CIMB	Wilmar	3.13	4.1	Add	Sum of parts
08/15/18	DBS Vickers	Wilmar	3.25	3.61	Buy	DCF
08/15/18	DMG & Partners	Wilmar	3.25	3.69	Buy	Sum of parts

Stock calls for 24 August 2018

Date	Analyst	Company	Last	Target	Call	Valuation
08/24/18	DBS Vickers	A-Reit	2.73	3	Buy
08/24/18	phillip	Banyan Tree	0.54	0.73	Accumulate	Sum of parts, PB0.94x FY18
08/24/18	DBS Vickers	CDL Hospitality	1.52	1.95	Buy
08/24/18	DBS Vickers	Frasers Centrepoint Trust	2.28	2.45	Buy
08/24/18	CIMB	Ho Bee	2.65	3	Add	RNAV (40% discount)
08/24/18	UOB Kay Hian	Keppel Corp	6.81	7.37	Hold	Sum of parts, Buy @ $6.6
08/24/18	DBS Vickers	Mapletree Logistics	1.25	1.53	Buy
08/24/18	Kim Eng	Singtel	3.28	3.46	Hold	DCF
08/24/18	Lim & Tan	UG Healthcare	0.23	0	Buy

Yeah! The current Australian PM is ousted!

https://sg.news.yahoo.com/australian-pms-rival-cleared-remain-parliament-ahead-expected-012503157--business.html

The anti-China Aussie PM is ousted!

The relationship between China & Australia will turn for the better with the new Aussie PM in place.

Wheelock Properties - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/01/17	Lim & Tan	Wheelock Properties	1.82	0	Hold
03/13/17	OCBC	Wheelock Properties	1.88	2.27	Buy
06/02/17	Phillip	Wheelock Properties	1.74	2.28	Trading Buy	RNAV (15% discount)
06/05/17	OCBC	Wheelock Properties	1.82	2.27	Buy
06/14/17	DBS Vickers	Wheelock Properties	1.895	2.27	Buy
08/15/17	OCBC	Wheelock Properties	1.805	2.27	Buy
09/06/17	UOB Kay Hian	Wheelock Properties	1.84	2.33	Buy	RNAV (15% discount)
09/28/17	OCBC	Wheelock Properties	1.865	2.27	Buy
10/06/17	Lim & Tan	Wheelock Properties	1.905	0	Buy
11/15/17	UOB Kay Hian	Wheelock Properties	1.95	2.33	Buy	RNAV (15% discount)
11/24/17	OCBC	Wheelock Properties	1.91	2.27	Buy
12/01/17	UOB Kay Hian	Wheelock Properties	1.9	2.33	Buy
12/14/17	OCBC	Wheelock Properties	1.89	2.27	Buy
03/01/18	OCBC	Wheelock Properties	1.87	2.34	Buy
05/22/18	Lim & Tan	Wheelock Properties	1.81	0	Buy
06/05/18	UOB Kay Hian	Wheelock Properties	1.74	2.33	Buy
07/16/18	Lim & Tan	Wheelock Properties	1.74	0	Buy
07/19/18	Lim & Tan	Wheelock Properties	1.74	2.1	Reject offer	Offer $2.1
07/19/18	OCBC	Wheelock Properties	1.74	2.34	Reject offer	Offer $2.1
08/14/18	OCBC	Wheelock Properties	2.19	2.34	Reject offer	Offer $2.1

Viva Industrial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/10/17	CIMB	Viva Industrial	0.755	0.83	Not Rated	Bloomberg consensus
01/20/17	OCBC	Viva Industrial	0.765	0.78	Buy
01/27/17	DMG & Partners	Viva Industrial	0.765	0.85	Buy	DDM
01/27/17	OCBC	Viva Industrial	0.765	0.8	Buy
02/03/17	Religare	Viva Industrial	0.765	0.9	Buy
03/10/17	DMG & Partners	Viva Industrial	0.78	0.85	Buy
04/07/17	DMG & Partners	Viva Industrial	0.79	0.85	Buy	DDM
04/18/17	Kim Eng	Viva Industrial	0.795	0.95	Buy	DDM
04/26/17	OCBC	Viva Industrial	0.79	0.795	Buy
05/02/17	DMG & Partners	Viva Industrial	0.815	0.85	Buy	DDM
05/02/17	OCBC	Viva Industrial	0.815	0.825	Buy
05/23/17	OCBC	Viva Industrial	0.805	0.83	Buy
06/14/17	Amfrasers	Viva Industrial	0.84	0.88	Hold	Consensus target
06/22/17	Kim Eng	Viva Industrial	0.86	0.95	Buy
07/03/17	Kim Eng	Viva Industrial	0.89	0.95	Buy
07/12/17	DMG & Partners	Viva Industrial	0.905	0.85	Buy
07/18/17	DMG & Partners	Viva Industrial	0.915	0.97	Buy	DDM
07/27/17	OCBC	Viva Industrial	0.92	0.895	Hold
07/27/17	Kim Eng	Viva Industrial	0.92	1	Buy	DDM
08/03/17	Kim Eng	Viva Industrial	0.82	1	Buy
08/07/17	Amfrasers	Viva Industrial	0.925	0.97	Buy	DDM
08/21/17	CIMB	Viva Industrial	0.925	0.96	Not Rated	Bloomberg consensus
09/21/17	DMG & Partners	Viva Industrial	0.945	0.97	Buy
10/10/17	DMG & Partners	Viva Industrial	0.94	0.97	Buy	DDM
10/30/17	OCBC	Viva Industrial	0.96	0.9	Hold
10/30/17	DMG & Partners	Viva Industrial	0.96	1.02	Buy	DDM
01/29/18	Kim Eng	Viva Industrial	0.94	1.05	Buy	DDM
01/29/18	OCBC	Viva Industrial	0.94	0.93	Hold
03/23/18	OCBC	Viva Industrial	0.75	0.93	Buy
04/02/18	OCBC	Viva Industrial	0.885	0.93	Buy
04/16/18	Kim Eng	Viva Industrial	0.88	1.05	Buy
05/16/18	Kim Eng	Viva Industrial	0.89	1.05	Buy	DDM
05/17/18	OCBC	Viva Industrial	0.89	0.9	Hold
05/21/18	Kim Eng	Viva Industrial	0.89	1.05	Hold
05/21/18	OCBC	Viva Industrial	0.89	0.942	Accept Offer	$0.096 cash & 1.6 ESR-Reit share (New value $0.53)
08/08/18	OCBC	Viva Industrial	0.895	0.942	Accept Offer	$0.096 cash & 1.6 ESR-Reit share (New value $0.53)

Venture - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	UOB Kay Hian	Venture	9.88	11	Buy
01/19/17	DBS Vickers	Venture	9.84	10.9	Buy
01/20/17	CIMB	Venture	9.8	10.94	Add
01/23/17	Credit Suisse	Venture	9.74	11.6	Outperform
02/08/17	UOB Kay Hian	Venture	10.28	11	Buy
02/10/17	CIMB	Venture	10.37	10.94	Add	PER14.4x FY18
02/10/17	Credit Suisse	Venture	10.37	11.6	Outperform
02/27/17	CIMB	Venture	10.32	11.5	Add	PER14.4x CY18
02/27/17	Credit Suisse	Venture	10.32	11.9	Outperform
02/27/17	DBS Vickers	Venture	10.32	11.37	Buy	PER16x FY17
02/27/17	DMG & Partners	Venture	10.32	11.2	Buy	DCF, PER16x FY17
02/27/17	Kim Eng	Venture	10.32	11.5	Buy	PER15x FY17
02/27/17	OCBC	Venture	10.32	11	Buy
02/27/17	UOB Kay Hian	Venture	10.32	12.4	Buy	PER16x FY17
02/27/17	Citibank	Venture	10.32	11.43	Buy
03/02/17	UOB Kay Hian	Venture	10.71	12.4	Buy
05/02/17	CIMB	Venture	12.2	12.01	Hold	PER14.4x FY18
05/02/17	DMG & Partners	Venture	12.2	14.1	Buy	DCF, PER17x FY17
05/02/17	Kim Eng	Venture	12.2	13.35	Buy	PER16x FY17
05/02/17	Lim & Tan	Venture	12.2	0	Buy
05/02/17	OCBC	Venture	12.2	13	Buy	DCF
05/02/17	UOB Kay Hian	Venture	12.2	13.6	Buy	PER16x FY17
05/02/17	Citibank	Venture	12.2	13.58	Buy
05/03/17	DBS Vickers	Venture	12.9	14.3	Buy	PER18.6x FY17/18
06/02/17	UOB Kay Hian	Venture	13	13.3	Hold	PER16.2x FY17, Buy @ $12
07/05/17	CIMB	Venture	11.89	12.01	Hold	PER14.4x FY18
07/05/17	UOB Kay Hian	Venture	11.89	13.3	Hold
07/10/17	OCBC	Venture	11.8	13	Buy
08/07/17	UOB Kay Hian	Venture	13.85	15.15	Buy	PER16x FY18
08/07/17	DMG & Partners	Venture	13.85	14.7	Buy	DCF, PER17x FY17
08/07/17	OCBC	Venture	13.85	14.8	Buy	DCF
08/07/17	CIMB	Venture	13.85	15.8	Add	PER15.2x FY18
08/07/17	Lim & Tan	Venture	13.85	0	Buy
08/07/17	Citibank	Venture	13.85	17.3	Buy
08/08/17	DBS Vickers	Venture	14.89	16.6	Buy	PER18.2x FY18
08/10/17	Credit Suisse	Venture	15.7	16.4	Outperform
09/13/17	Lim & Tan	Venture	15.25	0	Buy
09/15/17	Credit Suisse	Venture	16.2	20	Outperform
09/26/17	DMG & Partners	Venture	17.29	19.7	Buy	DCF, PER19x FY18
10/03/17	CIMB	Venture	18.06	20.87	Add	PER17.3x FY18
10/06/17	DBS Vickers	Venture	18.6	21	Buy	PER20x FY18/19
10/12/17	OCBC	Venture	18.55	20.33	Buy
11/06/17	UOB Kay Hian	Venture	19.29	23.5	Buy	PER18x FY18
11/06/17	DMG & Partners	Venture	19.29	24.1	Buy	DCF, PER18x FY18
11/06/17	OCBC	Venture	19.29	23	Buy
11/06/17	CIMB	Venture	19.29	24.74	Add	PER17.3x FY19
11/06/17	Lim & Tan	Venture	19.29	0	Buy
11/06/17	DBS Vickers	Venture	19.29	26	Buy	PER19.5x FY18/19
11/06/17	Credit Suisse	Venture	19.29	22.1	Outperform
11/06/17	Citibank	Venture	19.29	21.75	Buy
12/06/17	DBS Vickers	Venture	20.54	26	Buy
12/20/17	CIMB	Venture	20.2	24.74	Add
01/05/18	DBS Vickers	Venture	21.97	26	Buy
01/10/18	Kim Eng	Venture	21.57	27.5	Buy	PER18.8x FY18
01/15/18	UOB Kay Hian	Venture	22.65	23.5	Buy
01/19/18	Lim & Tan	Venture	23.15	0	Buy
01/24/18	DMG & Partners	Venture	23.9	24.1	Buy
01/24/18	Credit Suisse	Venture	23.9	27.2	Outperform
02/07/18	CIMB	Venture	22.48	24.74	Add
02/08/18	CIMB	Venture	22.29	29.13	Add
02/13/18	UOB Kay Hian	Venture	21.92	23.5	Buy
02/20/18	DMG & Partners	Venture	23.53	24.1	Buy
02/23/18	UOB Kay Hian	Venture	25.03	31.88	Buy	PER19x FY18
02/23/18	Citibank	Venture	25.03	31.74	Buy
03/01/18	OCBC	Venture	27.56	34	Buy
03/01/18	UOB Kay Hian	Venture	27.56	31.88	Buy	PER19x FY18
03/01/18	DMG & Partners	Venture	27.56	30.5	Buy	DCF, PER19x FY18
03/01/18	Kim Eng	Venture	27.56	31.2	Buy	PB3.7x FY18
03/01/18	CIMB	Venture	27.56	30.81	Add	PER17.7x FY19
03/01/18	Lim & Tan	Venture	27.56	0	Buy
03/01/18	DBS Vickers	Venture	27.56	32.2	Buy	PER19.5x FY18/19
03/05/18	Credit Suisse	Venture	26.84	32	Outperform
04/03/18	DBS Vickers	Venture	28.14	32.2	Buy
04/06/18	CIMB	Venture	27.73	30.81	Add	PER17.7x FY19
04/20/18	Lim & Tan	Venture	28.82	0	Hold
04/23/18	UOB Kay Hian	Venture	25.29	30.6	Buy	PER19x FY18
04/26/18	UOB Kay Hian	Venture	22.57	25	Buy	PER16.1x FY18
04/26/18	Credit Suisse	Venture	22.57	24	Neutral
04/26/18	OCBC	Venture	22.57	30	Buy	DCF
04/26/18	CIMB	Venture	22.57	25.64	Add	PER15.4x
04/26/18	Lim & Tan	Venture	22.57	23.4	Hold	PER16x FY18
04/26/18	DMG & Partners	Venture	22.57	26	Buy	DCF, PER17.2x FY18
04/26/18	Kim Eng	Venture	22.57	28.83	Buy
04/26/18	DBS Vickers	Venture	22.57	27.2	Buy	PER17.5x FY18/19
05/08/18	Lim & Tan	Venture	20.65	0	Buy on weakness
05/08/18	Citibank	Venture	20.65	31.74	Buy
05/25/18	CIMB	Venture	20.55	25.64	Add
06/06/18	Kim Eng	Venture	21.63	28.83	Buy	PB3.4x
06/11/18	CIMB	Venture	21.13	25.64	Add	PER15.4x
06/13/18	Lim & Tan	Venture	20.65	0	Accumulate
07/03/18	UOB Kay Hian	Venture	17.66	25	Buy
07/05/18	UOB Kay Hian	Venture	17.5	18.2	Hold	PER14x FY18, Buy @ $14
07/12/18	CIMB	Venture	16.67	17.83	Hold	PER12.3x
07/19/18	Credit Suisse	Venture	16.89	14.5	Underperform	PER11x
08/06/18	UOB Kay Hian	Venture	16.85	18.2	Hold	PER14x FY18, Buy @ $16
08/06/18	DMG & Partners	Venture	16.85	22.2	Buy	PER15.5x FY18
08/06/18	OCBC	Venture	16.85	23.23	Buy	PER15x
08/06/18	CIMB	Venture	16.85	17.83	Hold	PER12.3x
08/06/18	Lim & Tan	Venture	16.85	0	Buy
08/07/18	DBS Vickers	Venture	18.6	22.9	Buy	PER15.8x FY18/19

Stock calls for 23 August 2018

Date	Analyst	Company	Last	Target	Call	Valuation
08/23/18	DMG & Partners	Capitaland	3.34	4	Buy	RNAV (20% discount)
08/23/18	NRA	Regal	0.11	0.3	Overweight
08/23/18	phillip	SHS	0.24	0.29	Buy
08/23/18	NRA	Uni-Asia	1.38	1.99	Overweight	PB0.5x

The Australian PM may quit soon because he is losing support.

https://sg.news.yahoo.com/lawmaker-tells-australian-leader-party-doesnt-back-him-232549188.html

The Aussie PM may quit soon because he is losing support for his anti-china policies.

The Australian economy won't be good with anti-China policies.

Australia is still anti-china.

https://sg.news.yahoo.com/australia-bans-chinas-huawei-participating-mobile-network-infrastructure-234923278--finance.html

If Australia wants to ban China Huawei, China can also ban Australia wines & dairy products.  Who has more to lose?

No wonder Australia PM and his party are crumbling.

The Anti-China Australian PM and his party are crumbling.

https://www.afp.com/en/news/23/ministers-offer-quit-australia-political-crisis-deepens-doc-18i7ap1

The Anti-China Australian PM and his party are crumbling in the face of an economic slowdown.

The economic slowdown was exacerbated by the unfriendliness towards China and caused some trading obstacles between Australia and China.

The current Australian PM and his party have to be removed from power in order for an improvement in the Australia-China relationship.  The politicians and the residents know this and they've to effect the change to stop the economic slowdown and improve the relationship with China.

Maersk has begun its first container ship using the Arctic sea.

https://sg.news.yahoo.com/maersk-launches-first-container-ship-132220934.html

This is the first time Maersk has bypassed the Strait of Malacca and Singapore port to move its cargoes.

Once Maersk collects enough data and experience in manoeuvring the Arctic Sea, it will reduce its shipping frequency to the Strait of Malacca and Singapore.

Temasek's investment portfolio has suffered another loss!

https://finance.yahoo.com/news/sea-loss-widens-investment-shopee-230841952.html

Temasek is a shareholder in another loss-making company, SEA LTD.

SEA lost US$250.8 in the previous quarter and would continue its losses in the competitive e-commerce industry because it wanted to gain its market share.

The stock market is overly optimistic about US-China trade talk.

The stock investors are overly optimistic about the upcoming US-China trade talk.  Why?

This US-China trade talk is a mid-level negotiation which will just set the stage for the November trade meeting between Trump and Xi.  Therefore, there won't be any significant trade dispute that will be resolved in this August trade talk and the mid-level authorities are not empowered to make any important trade decision but to defer the decision-making to November.

Anyway, any decision made in this August trade talk can be easily revoked by Trump in November.  Thus, it is pointless to remain optimistic for any good outcome.

Vard - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/15/17	OCBC	Vard	0.24	0.23	Hold	PB0.8x
05/16/17	DBS Vickers	Vard	0.24	0.25	Hold	PB0.8x
07/21/17	DBS Vickers	Vard	0.245	0.25	Hold
07/26/17	DBS Vickers	Vard	0.245	0.24	Hold	PB0.8x
11/14/17	DBS Vickers	Vard	0.245	0.25	Hold	PB0.78x, P/NTA0.99x, Offer price $0.25
07/09/18	CIMB	Vard	0.25	0.25	Do Not Accept	Offer $0.25 is not fair

Valuetronics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/14/17	CIMB	Valuetronics	0.65	0.72	Add	PER9.8x CY18
02/14/17	DMG & Partners	Valuetronics	0.65	0.65	Buy	DCF
02/14/17	UOB Kay Hian	Valuetronics	0.65	0.72	Buy	PER10.1x FY18
05/23/17	DBS Vickers	Valuetronics	0.85	0.95	Not Rated	PER8x CY17 ex-cash
05/30/17	CIMB	Valuetronics	0.815	0.89	Add	PER11x CY18
05/30/17	UOB	Valuetronics	0.815	0.8	Hold
05/31/17	DMG & Partners	Valuetronics	0.8	0.81	Neutral	DCF
06/22/17	DMG & Partners	Valuetronics	0.795	0.85	Neutral	DCF, PER10x FY18
06/30/17	Amfrasers	Valuetronics	0.795	0.86	Buy	DCF
07/05/17	CIMB	Valuetronics	0.785	0.89	Add	PER11x CY18
08/07/17	DMG & Partners	Valuetronics	0.825	0.85	Neutral
08/15/17	UOB Kay Hian	Valuetronics	0.975	0.94	Hold	PER11.7x FY18, Buy @ $0.85
08/15/17	Amfrasers	Valuetronics	0.975	0.91	Hold	DCF, PER13.6x FY18
08/15/17	CIMB	Valuetronics	0.975	1.02	Add	PER11.9x CY18
08/16/17	DMG & Partners	Valuetronics	0.96	0.93	Neutral	DCF
09/26/17	CIMB	Valuetronics	0.865	1.02	Add
11/10/17	DMG & Partners	Valuetronics	0.995	1.05	Neutral	DCF
11/14/17	CIMB	Valuetronics	1.01	1.1	Add	PER11x CY19
02/13/18	CIMB	Valuetronics	0.92	1.1	Add	PER11x CY19
02/13/18	UOB Kay Hian	Valuetronics	0.92	0.95	Buy	PER11.3x FY19, Buy @ $0.86
02/15/18	DMG & Partners	Valuetronics	0.915	1.05	Buy	DCF, PER11x FY19
03/23/18	Kim Eng	Valuetronics	0.955	1.25	Buy	ROE-g/COE-g, PB2.8x FY19
04/27/18	Kim Eng	Valuetronics	0.74	1.25	Buy	ROE-g/COE-g, PB2.8x FY19
04/27/18	CIMB	Valuetronics	0.74	1.1	Add	PER11x CY19
04/30/18	DMG & Partners	Valuetronics	0.68	0.96	Buy	PER10x FY19
05/22/18	DMG & Partners	Valuetronics	0.845	0.96	Buy
05/28/18	Lim & Tan	Valuetronics	0.825	0	Hold
05/30/18	CIMB	Valuetronics	0.795	0.95	Add	PER10x CY19
05/30/18	UOB Kay Hian	Valuetronics	0.795	0.96	Buy	PER11.3x FY19
05/30/18	DMG & Partners	Valuetronics	0.795	0.92	Buy	PER9.5x FY19
05/30/18	Kim Eng	Valuetronics	0.795	1.15	Buy
06/27/18	DMG & Partners	Valuetronics	0.665	0.92	Buy
08/15/18	Kim Eng	Valuetronics	0.735	1.05	Buy
08/15/18	UOB Kay Hian	Valuetronics	0.735	0.96	Buy	PER11.3x FY19
08/15/18	DMG & Partners	Valuetronics	0.735	0.92	Buy	PER10x FY19
08/15/18	CIMB	Valuetronics	0.735	0.95	Add	PER10x CY19

Valuemax - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/07/17	Amfrasers	Valuemax	0.28	0.39	Buy	PB1.15x FY17
01/10/18	Amfrasers	Valuemax	0.295	0.39	Buy

Stock calls for 21 August 2018

Date	Analyst	Company	Last	Target	Call	Valuation
08/21/18	Amfrasers	Accordia Golf Trust	0.565	0.7	Buy
08/21/18	DMG & Partners	Amara	0.475	0.88	Buy	RNAV (35% discount)
08/21/18	Jefferies	City Developments	9.49	11	Hold	RNAV (22% discount)
08/21/18	Amfrasers	Cityneon	1.13	1.51	Buy	PER14x FY18
08/21/18	CIMB	HMI	0.575	0.8	Add
08/21/18	CIMB	IHH Healthcare	1.84	2.29	Add	Ringgit $6.86 target
08/21/18	Amfrasers	Japan Foods	0.5	0.64	Buy	DCF
08/21/18	DMG & Partners	Mindchamps	0.7	0.94	Buy
08/21/18	UOB Kay Hian	Sheng Siong	1.11	1.14	Hold	DCF, PER21.8x FY19, Buy @ $1.05

Mahathir cannot get any concession from China. Hahaha!

https://sg.news.yahoo.com/malaysian-pm-mahathir-says-china-backed-rail-pipeline-051558586.html

This old man cannot get neither get any concession nor any goodies (coffee money) from China and has to cancel China backed projects.  Malaysia has to pay cancellation fees as penalties because of Mahathir's foolishness.

Mahathir doesn't understand that the strategic importance of Malaysia especially the Strait of Malacca has diminished because of the Arctic sea lane.  He thought he could bargain with China but he was dead wrong.

Mark my words! Singapore price hikes are coming in the future!

https://sg.finance.yahoo.com/news/singapores-lee-sees-large-expenditures-health-housing-055401118.html

Singapore will hike tariffs, levies and taxes in the future to defray the large expenditures in the healthcare and housing costs.

When our government gives us a drumstick, it will try to get a whole chicken back from us.  That's why I've never been interested in the government policies.

US firms are giving warning to Trump about future china tariffs.

https://sg.finance.yahoo.com/news/u-firms-warn-next-china-tariffs-cost-americans-062554149--finance.html

We did state that the main street was more important than the wall street.

Although the wall street stocks didn't fall as much as China's stocks, the main street people are starting to feel disgruntled.  They're starting to complain about the China tariffs now.

http://sg-stock.blogspot.com/2018/08/us-inflation-is-rising-rapidly-because.html