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

UOL - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	DBS Vickers	UOL	6.2	7.2	Buy	RNAV (30% discount)
01/11/17	Kim Eng	UOL	6.34	7.39	Buy
01/12/17	CIMB	UOL	6.3	7.96	Add
01/16/17	phillip	UOL	6.29	7.05	Accumulate	RNAV
01/25/17	Kim Eng	UOL	6.45	7.39	Buy	RNAV (24% discount)
02/06/17	phillip	UOL	6.58	7.05	Accumulate
02/17/17	DBS Vickers	UOL	6.55	7.2	Buy
02/27/17	CIMB	UOL	6.65	7.96	Add	RNAV (20% discount)
02/27/17	Kim Eng	UOL	6.65	7.68	Buy	RNAV (22% discount)
02/27/17	OCBC	UOL	6.65	7.3	Buy
02/28/17	DBS Vickers	UOL	6.51	7.64	Buy	RNAV (30% discount)
02/28/17	Lim & Tan	UOL	6.51	0	Buy
02/28/17	phillip	UOL	6.51	7.4	Accumulate	RNAV (20% discount)
03/09/17	Deutsche	UOL	6.68	6.8	Hold
03/09/17	OCBC	UOL	6.68	7.3	Buy	PB0.66x
03/13/17	CIMB	UOL	6.92	7.96	Add	RNAV (20% discount)
03/13/17	Kim Eng	UOL	6.92	7.68	Buy
03/14/17	UBS	UOL	6.94	8.15	Buy
03/16/17	Kim Eng	UOL	6.93	7.93	Buy
03/17/17	DBS Vickers	UOL	6.98	7.64	Buy
03/17/17	JP Morgan	UOL	6.98	8.2	Overweight
04/10/17	DBS Vickers	UOL	7.02	7.64	Buy
04/18/17	CIMB	UOL	6.98	7.96	Add
04/27/17	phillip	UOL	7.2	7.19	Accumulate
05/12/17	Deutsche	UOL	7.1	7.5	Hold
05/12/17	Kim Eng	UOL	7.1	7.93	Buy
05/15/17	CIMB	UOL	7.07	7.96	Add	RNAV (20% discount)
05/15/17	Kim Eng	UOL	7.07	8.3	Buy
05/15/17	OCBC	UOL	7.07	7.3	Hold
05/16/17	DBS Vickers	UOL	7.09	8.73	Buy	RNAV (20% discount)
05/16/17	phillip	UOL	7.09	7.64	Accumulate	RNAV (15% discount)
05/17/17	Lim & Tan	UOL	7	0	Buy
05/29/17	Kim Eng	UOL	6.94	9.05	Buy	RNAV (15% discount)
06/05/17	Credit Suisse	UOL	7.08	9	Outperform	RNAV (25% discount)
06/14/17	DBS Vickers	UOL	7.79	8.73	Buy
06/16/17	CIMB	UOL	7.6	7.96	Add
06/16/17	Kim Eng	UOL	7.6	9.05	Buy	RNAV (15% discount)
06/22/17	Deutsche	UOL	7.68	7.5	Hold
06/23/17	Lim & Tan	UOL	7.68	0	Buy
06/23/17	OCBC	UOL	7.68	7.3	Hold	RNAV (25% discount)
06/27/17	OCBC	UOL	7.6	8.39	Buy	RNAV (20% discount)
07/11/17	Kim Eng	UOL	7.59	9.05	Buy
07/18/17	JP Morgan	UOL	7.78	8.2	Overweight
07/18/17	CIMB	UOL	7.78	7.96	Add
07/27/17	DBS Vickers	UOL	7.92	8.73	Buy	RNAV (20% discount)
08/07/17	CIMB	UOL	8.06	9.03	Add	RNAV (20% discount)
08/07/17	Kim Eng	UOL	8.06	9.05	Buy
08/07/17	phillip	UOL	8.06	8.93	Accumulate	RNAV (15% discount)
08/08/17	Lim & Tan	UOL	8.16	0	Buy
08/08/17	OCBC	UOL	8.16	9.01	Buy
08/25/17	Kim Eng	UOL	8.13	9.43	Buy	RNAV (15% discount)
08/28/17	DBS Vickers	UOL	8.03	8.73	Buy
09/04/17	OCBC	UOL	8.18	8.63	Buy
09/05/17	CIMB	UOL	8.04	9.03	Add
09/12/17	DBS Vickers	UOL	8.06	8.73	Buy
09/12/17	Lim & Tan	UOL	8.06	0	Buy
09/15/17	Credit Suisse	UOL	8.03	9.4	Outperform
09/25/17	Kim Eng	UOL	8.07	9.43	Buy	RNAV (15% discount)
10/03/17	CIMB	UOL	8.19	9.03	Add
10/06/17	Lim & Tan	UOL	8.2	0	Buy
10/09/17	Kim Eng	UOL	8.55	9.8	Buy	RNAV (10% discount)
10/20/17	Deutsche	UOL	8.98	9.2	Hold
11/10/17	Credit Suisse	UOL	8.8	9.4	Outperform
11/10/17	Kim Eng	UOL	8.8	9.85	Buy	RNAV (10% discount)
11/10/17	CIMB	UOL	8.8	9.62	Add	RNAV (20% discount)
11/10/17	DBS Vickers	UOL	8.8	10.15	Buy	RNAV (20% discount)
11/10/17	Lim & Tan	UOL	8.8	0	Buy
11/13/17	OCBC	UOL	8.75	9.7	Buy
12/06/17	DBS Vickers	UOL	8.56	10.15	Buy
12/14/17	CIMB	UOL	8.72	9.62	Add	RNAV (20% discount)
12/14/17	OCBC	UOL	8.72	9.7	Buy
12/18/17	Kim Eng	UOL	8.54	9.85	Buy
01/04/18	Deutsche	UOL	9.08	10	Buy
01/16/18	CIMB	UOL	9.34	9.62	Add
01/16/18	Kim Eng	UOL	9.34	9.85	Buy	RNAV (15% discount), PB0.85x
01/16/18	Credit Suisse	UOL	9.34	10.8	Outperform
02/07/18	OCBC	UOL	8.71	9.7	Buy
02/07/18	CIMB	UOL	8.71	9.62	Add
02/19/18	DBS Vickers	UOL	8.34	10.15	Buy
02/28/18	Kim Eng	UOL	8.52	10.4	Buy	RNAV (10% discount)
02/28/18	OCBC	UOL	8.52	10.63	Buy	RNAV
02/28/18	CIMB	UOL	8.52	9.67	Add	RNAV (20% discount)
02/28/18	Credit Suisse	UOL	8.52	10.8	Outperform
03/06/18	DBS Vickers	UOL	8.38	10.23	Buy	RNAV (15% discount)
03/12/18	OCBC	UOL	8.75	10.63	Buy
03/16/18	CIMB	UOL	8.79	9.67	Add
03/20/18	Kim Eng	UOL	8.69	10.4	Buy
04/02/18	CIMB	UOL	8.55	9.67	Add	RNAV (20% discount)
04/03/18	OCBC	UOL	8.64	10.63	Buy
04/03/18	DBS Vickers	UOL	8.64	10.23	Buy
04/11/18	Kim Eng	UOL	8.64	10.4	Buy	RNAV (10% discount)
04/13/18	Deutsche	UOL	8.64	10	Buy
05/14/18	OCBC	UOL	8.72	10.63	Buy
05/14/18	CIMB	UOL	8.72	9.65	Add	RNAV (20% discount)
05/14/18	Lim & Tan	UOL	8.72	0	Buy
05/15/18	DBS Vickers	UOL	8.61	10.23	Buy
06/13/18	DBS Vickers	UOL	8	10.23	Buy
06/13/18	CIMB	UOL	8	9.65	Add	RNAV (20% discount)
06/20/18	Kim Eng	UOL	7.5	10.85	Buy
06/26/18	OCBC	UOL	7.45	10.63	Buy
07/06/18	CIMB	UOL	7.75	9.65	Add
07/06/18	Kim Eng	UOL	7.75	10.85	Buy
07/09/18	OCBC	UOL	6.7	8.48	Buy	RNAV (35% discount)
07/09/18	DBS Vickers	UOL	6.7	7.82	Buy	RNAV (35% discount)
07/09/18	Kim Eng	UOL	6.7	8.95	Buy
07/17/18	Lim & Tan	UOL	6.79	0	Buy
08/06/18	Kim Eng	UOL	7	8.8	Buy	RNAV (35% discount)
08/06/18	OCBC	UOL	7	8.48	Buy
08/06/18	CIMB	UOL	7	8.45	Add	RNAV (30% discount)
08/07/18	DBS Vickers	UOL	7.03	7.82	Hold	RNAV (35% discount)

UOB Kay Hian - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/10/17	Lim & Tan	UOB Kay Hian	1.385	0	Buy

UOB Bank - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	UOB	20.4	18.9	Neutral
01/04/17	Kim Eng	UOB	20.41	18.36	Hold
01/05/17	Credit Suisse	UOB	20.62	23.41	Outperform
01/11/17	DIR	UOB	20.99	24	Buy
01/16/17	Jefferies	UOB	21.03	17	Underperform
01/16/17	phillip	UOB	21.03	18.97	Reduce	PB0.95x FY17
01/26/17	DMG & Partners	UOB	20.99	22.9	Buy	GGM
01/26/17	UBS	UOB	20.99	18.8	Sell
02/02/17	Lim & Tan	UOB	20.98	0	Hold
02/03/17	CIMB	UOB	20.63	18.42	Hold
02/06/17	Macquarie	UOB	20.38	20.5	Neutral
02/20/17	CIMB	UOB	21.18	20.37	Hold	GGM, PB1.02x CY17
02/20/17	Credit Suisse	UOB	21.18	24.3	Outperform
02/20/17	DBS Vickers	UOB	21.18	22.7	Buy	GGM, PB1.1x FY17
02/20/17	DIR	UOB	21.18	24.3	Buy	GGM, PB1.19x
02/20/17	DMG & Partners	UOB	21.18	23.9	Buy	GGM, PB1.2x FY17
02/20/17	Kim Eng	UOB	21.18	19.54	Hold
02/20/17	Lim & Tan	UOB	21.18	0	Take profit
02/20/17	OCBC	UOB	21.18	20.55	Hold
02/20/17	phillip	UOB	21.18	18.92	Reduce	PB0.95x FY17
03/03/17	CIMB	UOB	21.55	20.37	Hold
03/03/17	Jefferies	UOB	21.55	19	Hold
03/06/17	Macquarie	UOB	21.54	20.55	Neutral
03/13/17	Credit Suisse	UOB	21.39	24.3	Outperform
03/17/17	DBS Vickers	UOB	21.75	22.7	Buy
03/21/17	Kim Eng	UOB	21.86	19.54	Hold
04/03/17	Kim Eng	UOB	22.11	19.54	Hold
04/18/17	DIR	UOB	21.65	24.3	Buy
04/25/17	CIMB	UOB	21.88	20.37	Hold
05/02/17	CIMB	UOB	21.8	21.2	Hold	GGM, PB1.05x CY17
05/02/17	DBS Vickers	UOB	21.8	22.7	Buy	GGM, PB1.1x FY17
05/02/17	DIR	UOB	21.8	25	Buy	PB1.19x
05/02/17	DMG & Partners	UOB	21.8	23.9	Buy	GGM, PB1.2x FY17
05/02/17	OCBC	UOB	21.8	21.66	Hold
05/02/17	phillip	UOB	21.8	19.2	Reduce	PB0.95x FY17
05/03/17	Macquarie	UOB	22.8	20.5	Neutral
05/16/17	Credit Suisse	UOB	23.66	24.3	Outperform
05/23/17	Jefferies	UOB	23.38	22.5	Hold
05/25/17	DMG & Partners	UOB	23.46	25.95	Buy
05/29/17	Kim Eng	UOB	23.37	20.8	Hold
06/14/17	Kim Eng	UOB	23.63	20.8	Hold	PB1.1x FY18
06/28/17	DMG & Partners	UOB	22.84	25.95	Buy
07/03/17	Kim Eng	UOB	23.12	20.8	Hold
07/12/17	Credit Suisse	UOB	23.25	25.6	Outperform
07/28/17	Lim & Tan	UOB	24.6	0	Hold
07/28/17	UBS	UOB	24.6	22.5	Sell
07/31/17	Macquarie	UOB	24.05	21.5	Neutral
07/31/17	phillip	UOB	24.05	20.18	Reduce	GGM, PB1.01x FY17
07/31/17	DIR	UOB	24.05	26.4	Outperform	GGM, PB1.23x
07/31/17	DMG & Partners	UOB	24.05	26.5	Buy	GGM, PB1.31x FY17
07/31/17	CIMB	UOB	24.05	24.28	Hold	GGM
07/31/17	DBS Vickers	UOB	24.05	24.8	Hold	GGM, PB1.2x FY18
07/31/17	OCBC	UOB	24.05	23	Hold	Buy @ $22 or lower
08/18/17	Macquarie	UOB	23.6	21.5	Neutral
08/22/17	Kim Eng	UOB	23.45	26.4	Buy	GGM, PB1.1x FY18
08/23/17	DBS Vickers	UOB	23.59	24.8	Hold
08/23/17	Deutsche	UOB	23.59	24	Hold
08/29/17	Credit Suisse	UOB	23.7	25.6	Outperform
09/12/17	DMG & Partners	UOB	23.38	26.5	Buy	PB1x FY18
09/18/17	phillip	UOB	23.05	20.18	Reduce
09/18/17	Kim Eng	UOB	23.05	26.4	Buy
10/09/17	DIR	UOB	24.36	26.4	Outperform
10/20/17	phillip	UOB	24.33	21.61	Reduce
10/25/17	phillip	UOB	24.25	23.46	Neutral	GGM, PB1.09x FY18
10/25/17	DBS Vickers	UOB	24.25	26.9	Buy	GGM, PB1.3x FY18
11/03/17	DMG & Partners	UOB	24.79	27.5	Buy	GGM, PB1.27x FY18
11/03/17	Credit Suisse	UOB	24.79	27.1	Outperform
11/03/17	UBS	UOB	24.79	24	Sell
11/06/17	Kim Eng	UOB	24.77	27.1	Buy	PB1.2x FY18
11/06/17	phillip	UOB	24.77	25.22	Accumulate	GGM, PB1.184x FY18
11/06/17	CIMB	UOB	24.77	25.4	Hold	GGM FY19, PB1.18x FY18
11/06/17	DBS Vickers	UOB	24.77	27.5	Buy	GGM, PB1.3x FY18
11/06/17	Deutsche	UOB	24.77	25.5	Hold
11/09/17	Macquarie	UOB	25.21	24	Neutral
11/20/17	Credit Suisse	UOB	25.06	29.3	Outperform
12/01/17	DMG & Partners	UOB	26.2	28.88	Buy	GGM, PB1.33x FY18
12/08/17	phillip	UOB	25.63	25.22	Accumulate
12/08/17	Jefferies	UOB	25.63	29.5	Buy
01/05/18	DBS Vickers	UOB	27.02	29.5	Buy	GGM, PB1.4x FY18
01/08/18	DMG & Partners	UOB	26.91	28.88	Buy
01/09/18	Deutsche	UOB	27.25	30.6	Buy
01/10/18	phillip	UOB	27.8	25.22	Accumulate
01/26/18	OCBC	UOB	27.98	30.1	Buy	PB1.3x FY18
02/07/18	OCBC	UOB	26.62	30.1	Buy
02/08/18	Macquarie	UOB	26.4	27.5	Neutral
02/12/18	phillip	UOB	26.24	25.22	Accumulate
02/15/18	CIMB	UOB	26.24	28	Add	GGM, PB1.3x FY18, PER11.3x FY19
02/15/18	DMG & Partners	UOB	26.24	30	Buy	GGM, PB1.35x FY18
02/15/18	Kim Eng	UOB	26.24	29.33	Buy	PB1.3x FY18
02/15/18	Credit Suisse	UOB	26.24	31.7	Outperform	GGM
02/15/18	Jefferies	UOB	26.24	29.5	Buy
02/15/18	DBS Vickers	UOB	26.24	30	Buy	GGM, PB1.3x FY18
02/21/18	phillip	UOB	27.22	29	Buy	GGM, PB1.35x
02/22/18	UBS	UOB	27.6	27.5	Neutral
02/22/18	Jefferies	UOB	27.6	33	Buy
03/05/18	OCBC	UOB	27.75	30.86	Buy	PB1.3x FY18
03/20/18	Kim Eng	UOB	28.1	31.08	Buy	GGM, PB1.4x FY18
03/22/18	Lim & Tan	UOB	28.58	0	Buy
04/04/18	DMG & Partners	UOB	26.96	30	Buy
04/20/18	CIMB	UOB	29.78	33	Add	GGM, PB1.5x FY18
04/27/18	DBS Vickers	UOB	29.39	33.2	Buy	GGM, PB1.5x FY18
05/03/18	Jefferies	UOB	29.99	34	Buy
05/03/18	DMG & Partners	UOB	29.99	33.3	Buy	GGM, PB1.51x FY18
05/04/18	phillip	UOB	29.58	31.7	Accumulate	GGM, PB1.5x FY18
05/04/18	CIMB	UOB	29.58	33	Add	GGM, PB1.5x FY18
05/04/18	Kim Eng	UOB	29.58	32.88	Buy	GGM, PB1.5x FY18
05/04/18	DBS Vickers	UOB	29.58	33.2	Buy	GGM, PB1.5x FY18
05/09/18	Macquarie	UOB	29.34	30.5	Outperform
06/04/18	phillip	UOB	28.1	31.7	Accumulate
06/13/18	OCBC	UOB	27.86	31.02	Buy
06/28/18	DBS Vickers	UOB	26.36	33.2	Buy
07/02/18	phillip	UOB	26.76	31.7	Accumulate
07/06/18	DBS Vickers	UOB	27.09	28.3	Hold	GGM, PB1.3x FY18
07/16/18	DMG & Partners	UOB	26.55	33.3	Buy	GGM, PB1.43x FY19
08/01/18	phillip	UOB	27.02	31.7	Accumulate
08/03/18	Macquarie	UOB	26.7	32	Outperform
08/03/18	Lim & Tan	UOB	26.7	0	Buy
08/03/18	DMG & Partners	UOB	26.7	33.3	Buy	GGM, PB1.42x FY19
08/06/18	OCBC	UOB	26.59	32.09	Buy
08/06/18	CIMB	UOB	26.59	31	Add	GGM, PB1.4x FY18
08/06/18	DBS Vickers	UOB	26.59	31.7	Buy	GGM, PB1.4x FY19
08/07/18	phillip	UOB	27.13	34.5	Buy	GGM, PB1.6x FY18

Stock calls for 20 August 2018

Date	Analyst	Company	Last	Target	Call	Valuation
08/20/18	phillip	CNMC	0.23	0.29	Buy	DCF
08/20/18	phillip	Golden Energy	0.305	0.42	Buy	PER10x
08/20/18	CIMB	Mermaid Maritime	0.106	0.13	Hold
08/20/18	Kim Eng	MM2 Asia	0.42	0.57	Buy	PEG
08/20/18	CIMB	Riverstone	1.11	1.3	Add	PER16.7x FY19
08/20/18	OCBC	Sembcorp Marine	1.67	1.74	Hold	PB1.75x FY19
08/20/18	CIMB	Sheng Siong	1.09	1.26	Add	PER22.2x FY19
08/20/18	DMG & Partners	Sheng Siong	1.09	1.3	Buy	DCF & PER21x
08/20/18	UOB Kay Hian	Singtel	3.11	3.98	Buy
08/20/18	UOB Kay Hian	Starhub	1.66	1.82	Hold	DCF, Buy @ $1.64
08/20/18	Phillip	Thai Beverage	0.645	0.62	Reduce	Sum of parts
08/20/18	DBS Vickers	Yanlord	1.48	2.17	Buy	PER5.5x FY18/19

The newspaper is a new construction material used in HDB!

The newspaper is a new construction material used in HDB nowadays!

When my parents' house underwent the HIP in 2013, we also encountered the same thing. My father saw the construction worker inserted newspapers around the windows gaps before using the cement to cover the gaps.  I wrote in to HDB and town council to complain about the shoddy work but HDB didn't take any punitive action against the contractor and the contractor didn't rectify the shoddy work.  This kind of shoddy work didn't occur just for our block but other blocks too.  I still remembered that Surbana was the main contractor for the HIP for our estate.

This is a classic example of ownself checks ownself policy.  This is also why I won't agree to this ownself checks ownself policy.

DHA in milk powder cannot be absorbed by babies for brain development.

https://medicalxpress.com/news/2018-08-critical-role-dha-foetal-brain.html

Duke-NUS had completed a research finding to prove that ingested DHA couldn't be absorbed by babies for brain development.

Therefore, DHA milk powder is just a marketing gimmick because normal milk powder doesn't contain DHA.  You are paying for something that will be excreted from the body because it cannot be absorbed.

China latest hypersonic waverider - Starry-Sky 2 missile.

https://www.janes.com/article/82295/china-claims-successful-test-of-hypersonic-waverider

Nothing can intercept this missile as no intercepting missile can fly so fast.

This is really a great news for China but bad news for the USA.

Baltic dry index - 1723

Today, Friday, August 17 2018,  the Baltic Dry Index climbed by 3 points, reaching 1723 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.

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Related stocks: Sembcorp Marine, Cosco & Pan Ocean.