Stock calls for 28 February 2020

Date	Analyst	Company	Last	Target	Call	Valuation
02/28/20	DBS Vickers	AEM	2.24	2.52	Buy	PER11.2x FY20
02/28/20	UOB Kay Hian	Capitaland	3.64	3.7	Hold	Buy @ $3.50
02/28/20	DBS Vickers	Capitaland	3.64	4.5	Buy	RNAV (20% discount)
02/28/20	DBS Vickers	China Aviation Oil	1.16	1.65	Buy	PER10x FY20
02/28/20	UOB Kay Hian	City Developments	10.17	12.5	Buy
02/28/20	DMG & Partners	CSE Global	0.545	0.73	Buy	DCF
02/28/20	UOB Kay Hian	CSE Global	0.545	0.72	Buy
02/28/20	CIMB	CSE Global	0.545	0.77	Add	PER13.5x FY21
02/28/20	DBS Vickers	Delfi	0.96	1.55	Buy	PER23x FY20
02/28/20	DBS Vickers	First Resources	1.63	1.99	Buy	DCF
02/28/20	Kim Eng	First Resources	1.63	1.85	Buy	PER18x FY20
02/28/20	DBS Vickers	Frencken	0.865	1.06	Buy	PER10x FY20
02/28/20	Amfrasers	Frencken	0.865	1.01	outperform
02/28/20	DMG & Partners	Fu Yu	0.25	0.32	Buy	DCF
02/28/20	CIMB	HRnetGroup	0.58	0.58	Hold
02/28/20	DBS Vickers	HRnetGroup	0.58	0.63	Hold
02/28/20	CIMB	Propnex	0.555	0.7	Add	DCF
02/28/20	UOB Kay Hian	Propnex	0.555	0.68	Buy
02/28/20	CIMB	Venture	16.51	17.66	Add
02/28/20	DBS Vickers	Venture	16.51	18.5	Buy	PER13.9x FY20
02/28/20	UOB Kay Hian	Venture	16.51	19.8	Buy
02/28/20	Lim & Tan	Venture	16.51	0	Buy on weakness
02/28/20	Kim Eng	Venture	16.51	18.23	Buy	PB2x FY20
02/28/20	Morgan Stanley	Wilmar	4.15	5	Overweight
02/28/20	Credit Sussie	Wilmar	4.15	4.8	Outperform
02/28/20	JP Morgan	Wilmar	4.15	5	Overweight

MM2 Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/14/19	DBS Vickers	MM2 Asia	0.3	0.33	Hold	Sum of parts
02/21/19	CIMB	MM2 Asia	0.3	0.37	Add	Sum of parts
02/21/19	Kim Eng	MM2 Asia	0.3	0.34	Buy	PEG0.93x
03/26/19	Kim Eng	MM2 Asia	0.315	0.34	Buy	PEG0.93x
05/31/19	DBS Vickers	MM2 Asia	0.24	0.34	Buy	Sum of parts, PER16x FY20
06/04/19	Kim Eng	MM2 Asia	0.245	0.26	Hold
07/19/19	DBS Vickers	MM2 Asia	0.23	0.34	Buy	PER16x FY20
08/15/19	DBS Vickers	MM2 Asia	0.197	0.29	Buy	Sum of parts
08/20/19	Kim Eng	MM2 Asia	0.186	0.2	Hold	PEG1x
10/09/19	CIMB	MM2 Asia	0.215	0.32	Add	Sum of parts
11/15/19	DBS Vickers	MM2 Asia	0.285	0.3	Hold	Sum of parts, PER12.8x FY20

MIT - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/27/19	Lim & Tan	MIT	0.36	0.405	Buy	Mid-point of $0.4-0.41

Mindchamps - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/19	DMG & Partners	Mindchamps	0.655	0.87	Buy
05/17/19	DMG & Partners	Mindchamps	0.66	0.83	Buy	DCF
08/27/19	DMG & Partners	Mindchamps	0.525	0.83	Buy
12/11/19	DMG & Partners	Mindchamps	0.46	0.87	Buy

Stock calls for 27 February 2020

Date	Analyst	Company	Last	Target	Call	Valuation
02/27/20	DMG & Partners	Capitaland	3.67	4.2	Buy	RNAV (20% discount)
02/27/20	OCBC	Capitaland	3.67	4.24	Buy	RNAV (20% discount)
02/27/20	CIMB	Capitaland	3.67	4.25	Add
02/27/20	CIMB	China Aviation Oil	1.16	1.25	Hold	PER8.5x FY21
02/27/20	CIMB	City Developments	10.37	12.09	Add
02/27/20	OCBC	City Developments	10.37	12.01	Buy	RNAV (35% discount)
02/27/20	DBS Vickers	City Developments	10.37	13	Buy
02/27/20	Lim & Tan	Fu Yu	0.25	0	Hold
02/27/20	phillip	Penguin	0.675	0.88	Buy	PER5x FY20 (ex-cash)
02/27/20	CIMB	Riverstone	1.05	1.3	Add
02/27/20	DBS Vickers	Riverstone	1.05	1.34	Buy

Omg! Japan is fudging its covid-19 statistics because of the upcoming Olympics.

https://www.cnbc.com/2020/02/25/coronavirus-tokyo-games-ioc-member-says-more-likely-to-cancel-than-move.html

There is reliable speculation that Japan is fudging its covid-19 statistics to avoid cancellation of the Olympics as the IOC will cancel the event if the virus outbreak is not contained by May in Japan.  Some Japanese are complaining that their government is refusing to check people with some symptoms thoroughly for covid-19 virus because the government doesn't want to increase the covid-19 cases in Japan.

Japan has already spent billions to prepare and build infrastructures for the upcoming Olympics in July.  If this event is cancelled, Japanese firms will lose billions and many will go bankrupt.  Some hotels have closed down because of the covid-19 outbreak as there are few tourists now.

If Japan was allowed to hold the Olympics with its pseudo covid-19 statistics, there would be a major pandemic thereafter.  Consequently, there will be a global recession and global stock market crashes.

Micro-Mechanics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/30/19	Phillip	Micro-Mechanics	1.67	1.7	Accumulate	PER15x FY19
05/02/19	Phillip	Micro-Mechanics	1.63	1.63	Neutral	PER15x FY20
09/03/19	Phillip	Micro-Mechanics	1.59	1.6	Neutral	PER15x FY20
11/05/19	Phillip	Micro-Mechanics	1.9	1.6	Reduce
02/12/20	Phillip	Micro-Mechanics	1.88	1.6	Reduce	PER15x FY20

Mermaid Maritime - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/19/19	DBS Vickers	Mermaid Maritime	0.084	0.06	Sell	Sum of parts
03/19/19	CIMB	Mermaid Maritime	0.084	0.158	Hold	PB0.48x CY18

Memtech - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/28/19	Lim & Tan	Memtech	1.03	0	Buy on weakness
02/28/19	CIMB	Memtech	1.03	1.08	Hold	PER8.5x FY20
03/01/19	UOB Kay Hian	Memtech	0.985	1.33	Buy	PER11x FY19
04/26/19	UOB Kay Hian	Memtech	0.96	1.33	Buy
05/15/19	CIMB	Memtech	1.09	1.35	Accept offer	offer $1.35
05/15/19	Lim & Tan	Memtech	1.09	1.35	Accept offer	offer $1.35
06/17/19	Lim & Tan	Memtech	1.33	1.35	Accept offer	offer $1.35