https://finance.yahoo.com/news/goldman-sachs-forecasts-sp-500-will-rise-11-2018-135706308.html
Goldman Sachs states that S&P 500 will rise to 2850 in 2018.
However, SocGen has a different view and states that S&P 500 will end at 2500 in 2018.
https://www.marketwatch.com/story/think-us-stocks-will-keep-rallying-into-2018-not-so-fast-says-socgen-2017-11-23?siteid=yhoof2&yptr=yahoo
Only time will tell who is right. Let's see how this will pan out.
Friday, November 24, 2017
Thursday, November 23, 2017
Most Singaporeans do not believe in the Transportation Minister Khaw.
https://sg.news.yahoo.com/singaporeans-doubt-told-truth-mrt-issues-survey-060033782.html
The survey shows that most Singaporeans do not trust or believe in Minister Khaw. Khaw was labelled as the S$8 dollar man in the past because he said medical cost was cheap in SG as he only paid S$8 for his heart surgery. However, there was never any S$8 medical plan for ordinary Singaporeans. A simple x-ray would cost at least S$15 in SG.
I think the Singapore government has lost touch with the people on the ground again. Attributing the SMRT failures to ground employees and French Thales computer system is akin to disavow the political responsibility and governance because SMRT has been nationalized. The government made a grave mistake to list public transportation by claiming that doing so would improve the transportation services and facilities. However, the SMRT CEO focused on P&L because the pay & bonus were based on financial performances instead of safety and better services. In the end, the government had no choice but to nationalize SMRT due to frequent breakdowns, delays and accidents.
The survey shows that most Singaporeans do not trust or believe in Minister Khaw. Khaw was labelled as the S$8 dollar man in the past because he said medical cost was cheap in SG as he only paid S$8 for his heart surgery. However, there was never any S$8 medical plan for ordinary Singaporeans. A simple x-ray would cost at least S$15 in SG.
I think the Singapore government has lost touch with the people on the ground again. Attributing the SMRT failures to ground employees and French Thales computer system is akin to disavow the political responsibility and governance because SMRT has been nationalized. The government made a grave mistake to list public transportation by claiming that doing so would improve the transportation services and facilities. However, the SMRT CEO focused on P&L because the pay & bonus were based on financial performances instead of safety and better services. In the end, the government had no choice but to nationalize SMRT due to frequent breakdowns, delays and accidents.
Bukit Sembawang - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
03/02/17 | DBS Vickers | Bukit Sembawang | 4.85 | 7.55 | Buy | Takeover target |
Breadtalk - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
01/08/16 | OCBC | Breadtalk | 1.1 | 1.09 | Sell | |
02/26/16 | DIR | Breadtalk | 1.04 | 1.18 | Outperform | PER19.6x FY16 |
02/26/16 | OCBC | Breadtalk | 1.04 | 0.96 | Sell | PER23x FY16 |
03/22/16 | OCBC | Breadtalk | 1.05 | 0.96 | Sell | |
05/04/16 | OCBC | Breadtalk | 1.135 | 0.96 | Sell | |
05/10/16 | DIR | Breadtalk | 1.17 | 1.28 | Outperform | |
05/11/16 | DMG & Partners | Breadtalk | 1.15 | 1.42 | Buy | EV/Ebitda6x FY16 |
06/13/16 | OCBC | Breadtalk | 1.15 | 0.96 | Sell | |
07/08/16 | DMG & Partners | Breadtalk | 1.135 | 1.45 | Buy | EV/Ebitda6x FY16 |
07/15/16 | DIR | Breadtalk | 1.14 | 1.28 | Outperform | PER19.6x FY16 |
08/04/16 | OCBC | Breadtalk | 1.12 | 0.96 | Sell | |
08/05/16 | DIR | Breadtalk | 1.1 | 1.17 | Outperform | PER19.6x FY16 |
08/05/16 | DMG & Partners | Breadtalk | 1.1 | 1.45 | Buy | |
08/08/16 | OCBC | Breadtalk | 1.065 | 0.99 | Sell | PER23x FY16/17 |
10/03/16 | OCBC | Breadtalk | 1.005 | 0.99 | Sell | |
11/04/16 | DIR | Breadtalk | 1 | 1.13 | Outperform | PER16.7x FY17 |
11/04/16 | OCBC | Breadtalk | 1 | 1.07 | Hold | PER23x FY16/17 |
11/17/16 | DMG & Partners | Breadtalk | 1.09 | 1.45 | Buy | |
01/02/17 | DIR | Breadtalk | 1.285 | 1.42 | Outperform | PER20.9x FY17 |
01/03/17 | DMG & Partners | Breadtalk | 1.16 | 1.45 | Buy | EV/Ebitda5x FY17, PER16.5x FY17 |
01/26/17 | OCBC | Breadtalk | 1.225 | 1.07 | Hold | PER23x FY17 |
02/24/17 | DMG & Partners | Breadtalk | 1.31 | 1.5 | Buy | EV/Ebitda 6x FY17 |
02/24/17 | OCBC | Breadtalk | 1.31 | 1.21 | Hold | PER24x FY17 |
04/04/17 | DBS Vickers | Breadtalk | 1.355 | 1.69 | Buy | |
05/04/17 | DIR | Breadtalk | 1.395 | 1.53 | Outperform | PER20.9x FY17 |
05/04/17 | DMG & Partners | Breadtalk | 1.395 | 1.6 | Buy | EV/Ebitda 6x FY17 |
05/04/17 | OCBC | Breadtalk | 1.395 | 1.21 | Hold | |
06/09/17 | DBS Vickers | Breadtalk | 1.65 | 1.92 | Buy | Sum of parts |
07/04/17 | DMG & Partners | Breadtalk | 1.515 | 1.6 | Buy | |
08/01/17 | DBS Vickers | Breadtalk | 1.75 | 1.92 | Buy | |
08/03/17 | DMG & Partners | Breadtalk | 1.795 | 1.83 | Neutral | EV/Ebitda 6x FY18 |
08/03/17 | DBS Vickers | Breadtalk | 1.795 | 2.04 | Buy | PER18x FY18 |
10/31/17 | DBS Vickers | Breadtalk | 1.555 | 2.04 | Buy | |
11/06/17 | DMG & Partners | Breadtalk | 1.615 | 1.83 | Buy | EV/Ebitda 6x FY18 |
11/07/17 | DBS Vickers | Breadtalk | 1.605 | 2.01 | Buy | Sum of parts |
Stock calls for 23 November 2017
11/23/17 | OCBC | M1 | 1.77 | 1.65 | Hold | |
11/23/17 | DBS Vickers | OCBC | 12.01 | 13.5 | Buy | GGM, PB1.3x FY18 |
Huat ah! Singapore economic growth for Q3 2017 is 5.2%.
http://www.channelnewsasia.com/news/business/singapore-revises-up-growth-forecast-for-2017-as-q3-gdp-grows-5-9431172
Singapore economic growth is 5.2% in Q3 2017 because of exceptionally good exports, especially to China. Therefore, MTI is forecasting a 3.5% economic growth for 2017.
SG is doing tremendously well because of external factors which are basically international trading. China has become the most important market for SG as it is our largest trading partner and the trading between China & SG is burgeoning.
Therefore, if there is a significant slowdown in China, SG will be badly impacted as there is no other country that can pick up the slack. The bottom line is SG is heavily dependent on China now.
Singapore economic growth is 5.2% in Q3 2017 because of exceptionally good exports, especially to China. Therefore, MTI is forecasting a 3.5% economic growth for 2017.
SG is doing tremendously well because of external factors which are basically international trading. China has become the most important market for SG as it is our largest trading partner and the trading between China & SG is burgeoning.
Therefore, if there is a significant slowdown in China, SG will be badly impacted as there is no other country that can pick up the slack. The bottom line is SG is heavily dependent on China now.
Wednesday, November 22, 2017
Singapore government is going to increase taxes in the future!
https://www.channelnewsasia.com/news/singapore/pm-lee-hsien-loong-tax-hike-dpm-tharman-mof-9427760
PM Lee is trying to prepare us to accept the impending tax increments in the future.
However, Tharman said in 2015 budgetary speech that SG had enough provision for this decade.
http://sg-stock.blogspot.sg/2017/02/dpm-tharman-said-that-government-had.html
Well, I guess we're on different time scales as the government's timescale is a lot faster.
PM Lee is trying to prepare us to accept the impending tax increments in the future.
However, Tharman said in 2015 budgetary speech that SG had enough provision for this decade.
http://sg-stock.blogspot.sg/2017/02/dpm-tharman-said-that-government-had.html
Well, I guess we're on different time scales as the government's timescale is a lot faster.
Boustead Projects - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
03/27/17 | CIMB | Boustead Projects | 0.805 | 1.04 | Add | RNAV (40% discount) |
05/24/17 | CIMB | Boustead Projects | 0.86 | 1.04 | Add | RNAV (40% discount) |
Boustead - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
02/17/16 | CIMB | Boustead | 0.76 | 0.85 | Add | Sum of parts (25% discount) |
05/18/16 | CIMB | Boustead | 0.755 | 0.85 | Add | |
08/17/16 | CIMB | Boustead | 0.77 | 0.85 | Add | Sum of parts (25% discount) |
05/24/17 | CIMB | Boustead | 0.88 | 0.96 | Add | Sum of parts (20% discount) |
Stock calls for 22 November 2017
Date | Analyst | Company | Last | Target | Call | Valuation |
11/22/17 | OCBC | Hutchison Port | 0.42 | 0.42 | Hold | Buy @ $0.39 |
11/22/17 | Lim & Tan | MIT | 0.245 | 0.32 | Buy | PER8x FY18 |
11/22/17 | UOB Kay Hian | Oxley | 0.655 | 0.74 | Buy | RNAV (20% discount) |
11/22/17 | OCBC | Roxy-Pacific | 0.52 | 0.52 | Hold | |
11/22/17 | Macquarie | Singtel | 3.69 | 4.32 | Outperform |
China financial regulations are hurting Alibaba's businesses.
https://finance.yahoo.com/news/china-suspends-approval-internet-micro-loan-firms-sources-150618137--sector.html
Alibaba's ANT Financial and Qudian took a hit after China clamped down on micro-loan market.
As we can see, Alipay and ANT Financial are impacted by China regulations.
Alibaba's ANT Financial and Qudian took a hit after China clamped down on micro-loan market.
As we can see, Alipay and ANT Financial are impacted by China regulations.
China government is targeting Jack Ma of Alibaba now.
http://sg-stock.blogspot.sg/2017/07/political-battles-are-playing-out-in.html
We stated this before in our previous post above. Therefore, we are providing the update now.
China actress Zhaowei made her first pot of investment gain from Alibaba pictures by manipulating the stock prices with some hype news and she was caught this time by performing the same trick again. She was trying to take control of a 10B RMB company with 3B RMB cash but the China regulator believed she didn't have so much money for the takeover and investigated her money sources. It turned out that she took a 1.5B RMB bank loan and also got a 1.5B RMB personal loan. There was a rumour that the personal loan might come from Jiang Zemin's financial controller who was residing in HK or Jack Ma who was also closely associated with Jiang Zemin. Therefore, China regulator fined and banned her from the stock market for 5 years.
Zhaowei's husband is also a person of interest to the China authority because he was a chauffeur to a corrupted China official prior to his marriage to Zhaowei. The chauffeur became rich overnight and married Zhaowei. The China authority believed he was laundering money for the corrupted China official. Therefore, the China authority is keeping a tab on this couple.
https://www.reuters.com/article/us-china-zhaowei-trading-ban/china-bars-billionaire-actress-zhao-wei-from-stock-trading-for-five-years-idUSKBN1DA0T1
China's central bank has already outlined that all mobile payment systems must go through a central clearinghouse because China wants to keep track and monitor all the monies that flow in and out of China. Therefore, Alipay is no longer an unbridled conduit to move money without the knowledge of the government. The government is also investigating Alipay for Jiang Zemin's funds.
https://www.ft.com/content/3bcb5150-7cce-11e7-9108-edda0bcbc928
Jiang Zemin had been trying to disrupt China's economy to dethrone Xi Jinping's and wished to take over the leadership with his own henchman. Therefore, he had been funding many "entrepreneurs" and making them super rich to increase his own influences in China. This is the reason for the falls of many billionaires in China recently.
Jiang Zemin tried to cause the stock market to collapse but to no avail so far. Then, he tried to destabilize the China financial system by getting his "entrepreneurs" to take huge local loans in billions to buy overseas assets (companies and assets) without any prudent financial consideration. Through this method, he could cash out the overseas assets at a later date and leave the colossal debts to China with no payback intention. This would definitely crash China financial system in the future.
Subsequently, President Xi got wind of Jiang's intention and action and started to control the outflows of money with many financial regulations.
If you look at the latest Jack Ma's movie, he was apologizing and asking for mercy from the POLICE at the end of the movie for the mistake he had made. Many people said that he was sending a subtle message to the China's authority through this movie.
http://sg-stock.blogspot.sg/2017/11/alibaba-jack-mas-movie.html
We stated this before in our previous post above. Therefore, we are providing the update now.
China actress Zhaowei made her first pot of investment gain from Alibaba pictures by manipulating the stock prices with some hype news and she was caught this time by performing the same trick again. She was trying to take control of a 10B RMB company with 3B RMB cash but the China regulator believed she didn't have so much money for the takeover and investigated her money sources. It turned out that she took a 1.5B RMB bank loan and also got a 1.5B RMB personal loan. There was a rumour that the personal loan might come from Jiang Zemin's financial controller who was residing in HK or Jack Ma who was also closely associated with Jiang Zemin. Therefore, China regulator fined and banned her from the stock market for 5 years.
Zhaowei's husband is also a person of interest to the China authority because he was a chauffeur to a corrupted China official prior to his marriage to Zhaowei. The chauffeur became rich overnight and married Zhaowei. The China authority believed he was laundering money for the corrupted China official. Therefore, the China authority is keeping a tab on this couple.
https://www.reuters.com/article/us-china-zhaowei-trading-ban/china-bars-billionaire-actress-zhao-wei-from-stock-trading-for-five-years-idUSKBN1DA0T1
China's central bank has already outlined that all mobile payment systems must go through a central clearinghouse because China wants to keep track and monitor all the monies that flow in and out of China. Therefore, Alipay is no longer an unbridled conduit to move money without the knowledge of the government. The government is also investigating Alipay for Jiang Zemin's funds.
https://www.ft.com/content/3bcb5150-7cce-11e7-9108-edda0bcbc928
Jiang Zemin had been trying to disrupt China's economy to dethrone Xi Jinping's and wished to take over the leadership with his own henchman. Therefore, he had been funding many "entrepreneurs" and making them super rich to increase his own influences in China. This is the reason for the falls of many billionaires in China recently.
Jiang Zemin tried to cause the stock market to collapse but to no avail so far. Then, he tried to destabilize the China financial system by getting his "entrepreneurs" to take huge local loans in billions to buy overseas assets (companies and assets) without any prudent financial consideration. Through this method, he could cash out the overseas assets at a later date and leave the colossal debts to China with no payback intention. This would definitely crash China financial system in the future.
Subsequently, President Xi got wind of Jiang's intention and action and started to control the outflows of money with many financial regulations.
If you look at the latest Jack Ma's movie, he was apologizing and asking for mercy from the POLICE at the end of the movie for the mistake he had made. Many people said that he was sending a subtle message to the China's authority through this movie.
http://sg-stock.blogspot.sg/2017/11/alibaba-jack-mas-movie.html
Tuesday, November 21, 2017
Malaysia has called for KL-SG HSR tender on 22 November.
https://asia.nikkei.com/Markets/Nikkei-Markets/Malaysia-To-Invite-Pitches-For-KL-Singapore-High-Speed-Rail-Project-Lead
China will definitely participate in this KL-SG HSR tender in Malaysia after completing the HSR presentation in SG.
China will definitely participate in this KL-SG HSR tender in Malaysia after completing the HSR presentation in SG.
Best World - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
04/22/16 | CIMB | Best World | 0.6 | 0.97 | Add | PER10.6x CY17 |
05/12/16 | CIMB | Best World | 0.93 | 1.12 | Add | PER10.6x CY17 |
07/04/16 | CIMB | Best World | 1.33 | 1.61 | Add | PER12.4x CY17 |
08/08/16 | CIMB | Best World | 1.655 | 1.98 | Add | PER12.4x CY17 |
08/24/16 | Kim Eng | Best World | 1.75 | 2.63 | Buy | PER16x FY17 |
09/26/16 | CIMB | Best World | 1.49 | 2.05 | Add | PER16.1x FY17 |
11/07/16 | CIMB | Best World | 1.495 | 2.21 | Add | PER16.1x CY17 |
11/07/16 | Kim Eng | Best World | 1.495 | 2.16 | Buy | PER16x FY17, Up from $2.11 |
12/06/16 | CIMB | Best World | 1.34 | 2.21 | Add | |
01/16/17 | CLSA | Best World | 1.46 | 2.5 | Buy | PER18x FY17 |
02/01/17 | DBS Vickers | Best World | 1.83 | 2.36 | Buy | PER16x FY17 |
02/23/17 | CIMB | Best World | 1.93 | 2.97 | Add | PER16.1x CY18 |
02/27/17 | DBS Vickers | Best World | 2.03 | 2.44 | Buy | PER16x FY17 |
03/24/17 | Kim Eng | Best World | 2.54 | 2.34 | Buy | PER16x FY17 |
05/11/17 | CIMB | Best World | 2.79 | 3.05 | Add | PER16.1x CY18 |
05/11/17 | Kim Eng | Best World | 2.79 | 3.53 | Buy | PEG0.75x |
05/12/17 | DBS Vickers | Best World | 2.84 | 3.31 | Buy | PER18x FY17 |
05/22/17 | DBS Vickers | Best World | 1.44 | 1.65 | Buy | 1 for 2 stock split |
07/19/17 | CIMB | Best World | 1.345 | 1.7 | Add | PER18x CY18 |
08/08/17 | Kim Eng | Best World | 1.59 | 1.88 | Buy | PER19x FY18, PEG0.7x |
08/08/17 | CIMB | Best World | 1.59 | 1.8 | Add | PER18x CY18 |
08/10/17 | DBS Vickers | Best World | 1.525 | 1.82 | Buy | PER18x FY18 |
08/17/17 | DBS Vickers | Best World | 1.34 | 1.45 | Hold | PER17x FY17 |
09/07/17 | CIMB | Best World | 1.235 | 1.8 | Add | PER18x CY18 |
11/09/17 | Kim Eng | Best World | 1.315 | 1.88 | Buy | PER19x FY18 |
11/10/17 | CIMB | Best World | 1.26 | 1.4 | Hold | PER14.6x CY18 |
11/10/17 | DBS Vickers | Best World | 1.26 | 1.45 | Hold | PER17x FY18 |
Stock calls for 21 November 2017
Date | Analyst | Company | Last | Target | Call | Valuation |
11/21/17 | Amfrasers | Accordia Golf Trust | 0.7 | 0.78 | Buy | |
11/21/17 | DMG & Partners | DBS | 23.86 | 23.33 | Neutral | GGM |
11/21/17 | phillip | Golden Energy | 0.42 | 0.59 | Buy | PER10x |
11/21/17 | Lim & Tan | Noble | 0.193 | 0 | Avoid | |
11/21/17 | OCBC | Sembcorp Industries | 3.05 | 3.59 | Buy | |
11/21/17 | phillip | SGX | 7.52 | 8.31 | Accumulate | PER23.9x |
China and Russia are accumulating gold reserves!
https://www.bullionstar.com/blogs/ronan-manly/neck-neck-russian-chinese-official-gold-reserves/
China and Russia are accumulating gold reserves in preparation for the loss of confidence or collapse in USD. It is without a doubt that there is a rise in non-USD trading in the world, be it using RMB or Euro, especially in the Middle East and Russia. Although the USD constitutes around 60% of international trading (including foreign reserves of other countries), this figure has been dwindling over the years because countries have been diversifying their foreign reserves and also the rise in non-USD trading.
Therefore, China and Russia are accumulating gold for this upcoming currency war. Many analysts believe that China and Russia are under-declaring their gold reserves of 1850ton & 1800ton respectively and there are more golds hidden in both countries.
China and Russia are accumulating gold reserves in preparation for the loss of confidence or collapse in USD. It is without a doubt that there is a rise in non-USD trading in the world, be it using RMB or Euro, especially in the Middle East and Russia. Although the USD constitutes around 60% of international trading (including foreign reserves of other countries), this figure has been dwindling over the years because countries have been diversifying their foreign reserves and also the rise in non-USD trading.
Therefore, China and Russia are accumulating gold for this upcoming currency war. Many analysts believe that China and Russia are under-declaring their gold reserves of 1850ton & 1800ton respectively and there are more golds hidden in both countries.
Monday, November 20, 2017
PM Lee should have known it better than to antagonize Malaysia.
https://sg.news.yahoo.com/khairy-lambasts-hsien-loong-over-061534483.html
PM Lee has nothing better to do but to antagonize Malaysia.
We did state previously that Malaysia won't be accommodative towards SG anymore because it had the support of China.
http://sg-stock.blogspot.sg/2017/10/malaysia-to-impose-s8-vep-on-sg-cars.html
Yes, SG will be the chairman of ASEAN 2018 but the Philippines will be the ASEAN facilitator between China & ASEAN. Many ASEAN countries are also standing behind China now and it will be unwise for SG to do otherwise because SG will be ostracized in ASEAN. SG shouldn't antagonize other ASEAN members now or else the ASEAN summit won't be smooth sailing next year for Singapore.
PM Lee has nothing better to do but to antagonize Malaysia.
We did state previously that Malaysia won't be accommodative towards SG anymore because it had the support of China.
http://sg-stock.blogspot.sg/2017/10/malaysia-to-impose-s8-vep-on-sg-cars.html
Yes, SG will be the chairman of ASEAN 2018 but the Philippines will be the ASEAN facilitator between China & ASEAN. Many ASEAN countries are also standing behind China now and it will be unwise for SG to do otherwise because SG will be ostracized in ASEAN. SG shouldn't antagonize other ASEAN members now or else the ASEAN summit won't be smooth sailing next year for Singapore.
Banyan Tree - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
08/04/17 | phillip | Banyan Tree | 0.565 | 0.77 | Buy | Sum of parts |
08/14/17 | phillip | Banyan Tree | 0.55 | 0.74 | Buy | Sum of parts, PB0.87x FY18 |
09/12/17 | UOB Kay Hian | Banyan Tree | 0.64 | 0.93 | Buy | Sum of parts, EV/Ebitda12.9x FY18 |
09/27/17 | UOB Kay Hian | Banyan Tree | 0.62 | 0.92 | Buy | Sum of parts, EV/Ebitda12.9x FY18 |
11/09/17 | UOB Kay Hian | Banyan Tree | 0.62 | 0.92 | Buy | Sum of parts |
11/13/17 | phillip | Banyan Tree | 0.605 | 0.71 | Accumulate | Sum of parts, PB0.7x FY18 |
Stock calls for 20 November 2017
Date | Analyst | Company | Last | Target | Call | Valuation |
11/20/17 | DIR | CDL Hospitality | 1.64 | 1.61 | Hold | |
11/20/17 | Lim & Tan | City Developments | 12.11 | 0 | Buy | |
11/20/17 | CIMB | DBS | 24.13 | 25 | Add | |
11/20/17 | UOB Kay Hian | DBS | 24.13 | 26.1 | Buy | GGM, PB1.38x FY17 |
11/20/17 | Credit Suisse | DBS | 24.13 | 27.4 | Outperform | |
11/20/17 | DIR | Indofood Agri | 0.445 | 0.4 | Underperform | PER7.5x FY17/18 |
11/20/17 | OCBC | Keppel DC Reit | 1.4 | 1.5 | Buy | PB1.47x FY18 |
11/20/17 | Credit Suisse | OCBC | 11.65 | 12.6 | Neutral | |
11/20/17 | CIMB | OCBC | 11.65 | 12.6 | Add | |
11/20/17 | DIR | Sheng Siong | 0.965 | 0.88 | Underperform | DCF |
11/20/17 | Macquarie | Singapore Post | 1.29 | 0 | Underperform | |
11/20/17 | DIR | Suntec Reit | 1.97 | 1.63 | Underperform | DDM |
11/20/17 | Credit Suisse | UOB | 25.06 | 29.3 | Outperform |
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