Capitamall Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/18	Kim Eng	Capitamall Trust	2.13	2.15	Hold	DDM
01/04/18	Deutsche	Capitamall Trust	2.12	2.3	Buy
01/05/18	DMG & Partners	Capitamall Trust	2.11	2.08	Neutral
01/15/18	OCBC	Capitamall Trust	2.06	2.2	Buy
01/26/18	Phillip	Capitamall Trust	2.1	2.03	Neutral	DDM, PB1.02x
01/26/18	UOB Kay Hian	Capitamall Trust	2.1	2.04	Hold	DDM
01/26/18	DBS Vickers	Capitamall Trust	2.1	2.19	Buy
04/23/18	CIMB	Capitamall Trust	2.1	2.25	Add	DDM
04/23/18	Phillip	Capitamall Trust	2.1	2.05	Neutral	DDM
04/23/18	UOB Kay Hian	Capitamall Trust	2.1	2.13	Hold	DDM, Buy @ $1.81
04/23/18	DBS Vickers	Capitamall Trust	2.1	2.19	Buy
04/23/18	OCBC	Capitamall Trust	2.1	2.26	Buy
04/23/18	DMG & Partners	Capitamall Trust	2.1	2.1	Neutral	DDM
04/23/18	Kim Eng	Capitamall Trust	2.1	2.1	Hold
05/17/18	DMG & Partners	Capitamall Trust	2.08	2.1	Neutral
07/03/18	UOB Kay Hian	Capitamall Trust	2.02	2.13	Hold
07/06/18	DBS Vickers	Capitamall Trust	2.05	2.19	Buy
07/23/18	Phillip	Capitamall Trust	2.16	2.05	Neutral	DDM, PB1.03x FY18
07/23/18	DBS Vickers	Capitamall Trust	2.16	2.3	Buy
07/23/18	UOB Kay Hian	Capitamall Trust	2.16	2.02	Hold	DDM, Buy @ $1.84
07/23/18	Credit Suisse	Capitamall Trust	2.16	2.3	Outperform
07/23/18	OCBC	Capitamall Trust	2.16	2.1	Hold
07/23/18	CIMB	Capitamall Trust	2.16	2.21	Hold	DDM
07/23/18	Deutsche	Capitamall Trust	2.16	2.3	Buy	DDM & RNAV
08/28/18	CIMB	Capitamall Trust	2.17	2.21	Hold	DDM
08/28/18	UOB Kay Hian	Capitamall Trust	2.17	2.02	Hold	DDM, Buy @ $1.84
08/29/18	Phillip	Capitamall Trust	2.15	2.05	Neutral	DDM
08/30/18	DBS Vickers	Capitamall Trust	2.17	2.3	Buy
08/31/18	Lim & Tan	Capitamall Trust	2.15	0	Hold
09/11/18	DBS Vickers	Capitamall Trust	2.09	2.45	Buy
09/25/18	Deutsche	Capitamall Trust	2.13	2.3	Buy
10/01/18	CIMB	Capitamall Trust	2.22	2.21	Hold	DDM
10/01/18	OCBC	Capitamall Trust	2.22	2.1	Hold
10/16/18	DMG & Partners	Capitamall Trust	2.09	2.14	Neutral	DDM
10/17/18	Phillip	Capitamall Trust	2.11	2.05	Neutral
10/25/18	UOB Kay Hian	Capitamall Trust	2.14	2.02	Hold
10/26/18	DBS Vickers	Capitamall Trust	2.17	2.45	Buy
10/26/18	Phillip	Capitamall Trust	2.17	2.09	Neutral	DDM, PB0.99x FY18
10/26/18	OCBC	Capitamall Trust	2.17	2.12	Hold
10/29/18	Kim Eng	Capitamall Trust	2.11	2.15	Hold
11/16/18	CIMB	Capitamall Trust	2.13	2.28	Add	DDM
11/21/18	Phillip	Capitamall Trust	2.2	2.09	Neutral
11/29/18	Kim Eng	Capitamall Trust	2.24	2.2	Hold	DDM
11/30/18	CIMB	Capitamall Trust	2.26	2.29	Add
12/07/18	DBS Vickers	Capitamall Trust	2.26	2.44	Buy
12/11/18	DMG & Partners	Capitamall Trust	2.24	2.14	Neutral

Capitaland - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/18	Deutsche	Capitaland	3.55	4.6	Buy
01/04/18	Deutsche	Capitaland	3.61	4.3	Buy
01/05/18	OCBC	Capitaland	3.66	4.13	Buy
01/05/18	Lim & Tan	Capitaland	3.66	0	Buy
01/08/18	DBS Vickers	Capitaland	3.65	4.35	Buy	RNAV (10% discount)
01/08/18	CIMB	Capitaland	3.65	4.25	Add	RNAV (20% discount)
01/08/18	UOB Kay Hian	Capitaland	3.65	4.3	Buy	RNAV (15% discount)
01/08/18	DMG & Partners	Capitaland	3.65	4.2	Buy	RNAV (15% discount)
01/17/18	Macquarie	Capitaland	3.8	4.5	Outperform	RNAV (20% discount)
02/13/18	Lim & Tan	Capitaland	3.47	0	Buy
02/14/18	OCBC	Capitaland	3.52	4.26	Buy
02/14/18	UOB Kay Hian	Capitaland	3.52	4.3	Buy	RNAV (15% discount)
02/14/18	Kim Eng	Capitaland	3.52	4.1	Buy	RNAV (25% discount)
02/14/18	CIMB	Capitaland	3.52	4.34	Add	RNAV (20% discount)
02/14/18	DMG & Partners	Capitaland	3.52	4.2	Buy	RNAV (15% discount)
02/15/18	Credit Suisse	Capitaland	3.53	3.9	Neutral
02/15/18	DBS Vickers	Capitaland	3.53	4.35	Buy	RNAV (10% discount)
02/19/18	Phillip	Capitaland	3.57	4.19	Accumulate	RNAV (20% discount)
02/20/18	DMG & Partners	Capitaland	3.63	4.2	Buy
03/05/18	UOB Kay Hian	Capitaland	3.59	4.3	Buy
03/12/18	OCBC	Capitaland	3.6	4.26	Buy
03/20/18	Kim Eng	Capitaland	3.67	4.1	Buy
03/21/18	DIR	Capitaland	3.68	4.1	Outperform	RNAV (20% discount), Up from $4
04/03/18	OCBC	Capitaland	3.62	4.26	Buy
04/03/18	DBS Vickers	Capitaland	3.62	4.35	Buy
04/10/18	DMG & Partners	Capitaland	3.61	4.2	Buy	RNAV (15% discount)
04/10/18	Lim & Tan	Capitaland	3.61	0	Buy
04/11/18	Kim Eng	Capitaland	3.63	4.1	Buy
05/02/18	DBS Vickers	Capitaland	3.76	4.35	Buy
05/02/18	OCBC	Capitaland	3.76	4.26	Buy	RNAV
05/02/18	DMG & Partners	Capitaland	3.76	4.2	Buy	RNAV (15% discount)
05/02/18	UOB Kay Hian	Capitaland	3.76	4.3	Buy	RNAV (15% discount)
05/02/18	DIR	Capitaland	3.76	4.1	Outperform	RNAV (20% discount)
05/02/18	CIMB	Capitaland	3.76	4.37	Add	RNAV (20% discount)
05/02/18	Kim Eng	Capitaland	3.76	4.1	Buy
05/03/18	Phillip	Capitaland	3.76	4.19	Accumulate	RNAV (20% discount)
06/06/18	UOB Kay Hian	Capitaland	3.54	4.3	Buy
06/11/18	Lim & Tan	Capitaland	3.5	0	Buy
06/20/18	Kim Eng	Capitaland	3.31	4.1	Buy
06/26/18	OCBC	Capitaland	3.18	4.26	Buy
06/26/18	CIMB	Capitaland	3.18	3.55	Add
06/28/18	DBS Vickers	Capitaland	3.13	4.35	Buy
06/28/18	DMG & Partners	Capitaland	3.13	4.25	Buy	RNAV (15% discount)
07/03/18	UOB Kay Hian	Capitaland	3.14	4.3	Buy
07/06/18	Kim Eng	Capitaland	3.18	4.1	Buy
07/09/18	Phillip	Capitaland	2.99	4.19	Accumulate
07/09/18	DBS Vickers	Capitaland	2.99	3.62	Buy	RNAV (25% discount)
07/09/18	Kim Eng	Capitaland	2.99	3.8	Buy
07/23/18	DMG & Partners	Capitaland	3.19	3.95	Buy	RNAV (20% discount)
08/08/18	Macquarie	Capitaland	3.26	4.32	Outperform
08/10/18	Kim Eng	Capitaland	3.3	3.8	Buy
08/10/18	UOB Kay Hian	Capitaland	3.3	3.78	Buy	RNAV (20% discount)
08/10/18	CIMB	Capitaland	3.3	3.55	Add	RNAV (35% discount)
08/10/18	OCBC	Capitaland	3.3	4.09	Buy
08/13/18	DBS Vickers	Capitaland	3.31	3.62	Buy	RNAV (25% discount)
08/16/18	DMG & Partners	Capitaland	3.31	3.95	Buy
08/17/18	Lim & Tan	Capitaland	3.32	0	Buy
08/23/18	DMG & Partners	Capitaland	3.34	4	Buy	RNAV (20% discount)
09/04/18	Lim & Tan	Capitaland	3.42	0	Buy
09/06/18	Kim Eng	Capitaland	3.35	3.8	Buy	RNAV (30% discount)
09/11/18	DMG & Partners	Capitaland	3.29	4	Buy	RNAV (20% discount)
09/13/18	Macquarie	Capitaland	3.26	4.32	Outperform	RNAV
09/14/18	OCBC	Capitaland	3.27	4.09	Buy
09/19/18	UOB Kay Hian	Capitaland	3.27	3.78	Buy	RNAV (20% discount)
09/19/18	DBS Vickers	Capitaland	3.27	3.62	Buy
09/19/18	CIMB	Capitaland	3.27	3.55	Add	RNAV (35% discount)
09/25/18	Deutsche	Capitaland	3.36	4.3	Buy
10/02/18	DMG & Partners	Capitaland	3.36	4	Neutral
10/05/18	DMG & Partners	Capitaland	3.31	4	Buy
11/08/18	UOB Kay Hian	Capitaland	3.14	3.78	Buy	RNAV (20% discount)
11/14/18	OCBC	Capitaland	3.08	4.09	Buy
11/15/18	OCBC	Capitaland	3.08	3.96	Buy	RNAV (20% discount)
11/15/18	DBS Vickers	Capitaland	3.08	3.62	Buy	RNAV (25% discount)
11/15/18	DMG & Partners	Capitaland	3.08	4	Buy	RNAV (20% discount)
11/15/18	CIMB	Capitaland	3.08	3.55	Add	RNAV (35% discount)
11/19/18	Phillip	Capitaland	3.13	4	Accumulate	RNAV (20% discount)
11/20/18	Lim & Tan	Capitaland	3.14	0	Buy
12/03/18	UOB Kay Hian	Capitaland	3.12	4.4	Buy	RNAV (20% discount)
12/05/18	OCBC	Capitaland	3.22	3.96	Buy
12/14/18	DMG & Partners	Capitaland	3.17	4	Buy
01/02/19	DMG & Partners	Capitaland	3.11	4	Buy
01/03/19	OCBC	Capitaland	3.07	3.96	Buy
01/07/19	CIMB	Capitaland	3.06	3.55	Add	RNAV (35% discount)

Capital World - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/31/18	Tayrona	Capital World	0.037	0.147	Overweight	Sum of parts

Capitacommercial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/18	Deutsche	CapitaCommercial	1.99	1.85	Hold
01/05/18	DMG & Partners	CapitaCommercial	2.03	1.6	Take Profit
01/19/18	UOB Kay Hian	CapitaCommercial	1.92	2.09	Buy
01/25/18	Lim & Tan	CapitaCommercial	1.91	0	Hold
01/26/18	Kim Eng	CapitaCommercial	1.9	1.8	Hold
01/26/18	DMG & Partners	CapitaCommercial	1.9	1.63	Sell	DDM
01/26/18	OCBC	CapitaCommercial	1.9	1.84	Hold
01/26/18	DBS Vickers	CapitaCommercial	1.9	2.1	Buy	DCF
01/26/18	CIMB	CapitaCommercial	1.9	1.84	Hold
01/29/18	Phillip	CapitaCommercial	1.92	1.8	Neutral	DDM
02/13/18	UOB Kay Hian	CapitaCommercial	1.72	2.09	Buy
02/14/18	Deutsche	CapitaCommercial	1.74	1.9	Buy
02/20/18	DBS Vickers	CapitaCommercial	1.78	2.1	Buy
03/05/18	UOB Kay Hian	CapitaCommercial	1.72	2.09	Buy
03/06/18	UOB Kay Hian	CapitaCommercial	1.7	1.91	Buy
03/14/18	Lim & Tan	CapitaCommercial	1.77	0	Buy
04/13/18	DBS Vickers	CapitaCommercial	1.83	2.1	Buy	DCF
04/24/18	UOB Kay Hian	CapitaCommercial	1.82	2.09	Buy	DDM
04/24/18	OCBC	CapitaCommercial	1.82	1.84	Hold
04/24/18	Lim & Tan	CapitaCommercial	1.82	0	Buy
04/25/18	Phillip	CapitaCommercial	1.8	1.88	Accumulate	DDM
04/25/18	DMG & Partners	CapitaCommercial	1.8	1.63	Sell	DDM
04/25/18	CIMB	CapitaCommercial	1.8	1.93	Hold	DDM
05/02/18	UOB Kay Hian	CapitaCommercial	1.82	2.09	Buy	DDM
05/08/18	DBS Vickers	CapitaCommercial	1.79	2.1	Buy
05/17/18	DMG & Partners	CapitaCommercial	1.72	1.63	Sell
05/17/18	OCBC	CapitaCommercial	1.72	1.84	Hold
05/18/18	DMG & Partners	CapitaCommercial	1.72	1.65	Neutral	DDM
05/18/18	CIMB	CapitaCommercial	1.72	1.94	Add	DDM
06/04/18	UOB Kay Hian	CapitaCommercial	1.69	2.09	Buy
06/12/18	DBS Vickers	CapitaCommercial	1.7	2.1	Buy
06/22/18	UOB Kay Hian	CapitaCommercial	1.64	2.11	Buy	DDM
06/26/18	DBS Vickers	CapitaCommercial	1.64	2.12	Buy	DCF
06/26/18	Lim & Tan	CapitaCommercial	1.64	0	Buy
07/02/18	Phillip	CapitaCommercial	1.66	1.88	Accumulate	DDM, PB0.97x
07/02/18	CIMB	CapitaCommercial	1.66	1.9	Add	DDM
07/02/18	OCBC	CapitaCommercial	1.66	1.84	Hold
07/02/18	DBS Vickers	CapitaCommercial	1.66	2.12	Buy	DCF
07/03/18	UOB Kay Hian	CapitaCommercial	1.63	2.11	Buy
07/13/18	Lim & Tan	CapitaCommercial	1.75	0	Buy
07/20/18	CIMB	CapitaCommercial	1.75	1.9	Add
07/20/18	UOB Kay Hian	CapitaCommercial	1.75	1.99	Buy	DDM
08/02/18	DBS Vickers	CapitaCommercial	1.74	2.12	Buy
08/17/18	UOB Kay Hian	CapitaCommercial	1.74	1.99	Buy
09/13/18	OCBC	CapitaCommercial	1.74	1.69	Hold
09/13/18	DBS Vickers	CapitaCommercial	1.74	2.12	Buy
09/13/18	UOB Kay Hian	CapitaCommercial	1.74	1.99	Buy	DDM
09/25/18	Deutsche	CapitaCommercial	1.76	1.9	Buy
10/02/18	DBS Vickers	CapitaCommercial	1.78	2.12	Buy
10/16/18	DMG & Partners	CapitaCommercial	1.69	1.8	Neutral	DDM
10/17/18	Phillip	CapitaCommercial	1.69	1.88	Accumulate
10/25/18	UOB Kay Hian	CapitaCommercial	1.73	1.99	Buy
10/26/18	OCBC	CapitaCommercial	1.73	1.69	Hold
10/29/18	UOB Kay Hian	CapitaCommercial	1.72	2	Buy	DDM
10/29/18	OCBC	CapitaCommercial	1.72	1.68	Hold
10/29/18	CIMB	CapitaCommercial	1.72	1.9	Add
11/08/18	UOB Kay Hian	CapitaCommercial	1.69	2	Buy
11/21/18	Phillip	CapitaCommercial	1.7	1.9	Accumulate
12/10/18	UOB Kay Hian	CapitaCommercial	1.77	2	Buy
12/11/18	DMG & Partners	CapitaCommercial	1.76	1.8	Neutral
01/04/19	Phillip	CapitaCommercial	1.75	1.9	Accumulate

Stock calls for 11 January 2019

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/19	DBS Vickers	ART	1.11	1.25	Buy
01/11/19	Lim & Tan	CSE Global	0.395	0	Buy
01/11/19	UOB Kay Hian	Mapletree Logistics	1.33	1.39	Hold	DDM, Buy @ $1.26
01/11/19	OCBC	SATS	4.94	5.23	Hold	DCF

Cache Logistics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/18	DMG & Partners	Cache Logistics	0.875	0.84	Neutral
01/19/18	Kim Eng	Cache Logistics	0.875	0.9	Hold	DDM
01/19/18	CIMB	Cache Logistics	0.875	0.85	Hold	DDM
01/22/18	DMG & Partners	Cache Logistics	0.88	0.96	Buy	DDM
01/22/18	phillip	Cache Logistics	0.88	0.92	Accumulate	DDM
01/22/18	DBS Vickers	Cache Logistics	0.88	0.9	Hold
01/22/18	OCBC	Cache Logistics	0.88	0.81	Hold
02/02/18	phillip	Cache Logistics	0.88	0.93	Accumulate	DDM
02/02/18	OCBC	Cache Logistics	0.88	0.85	Hold
02/02/18	DMG & Partners	Cache Logistics	0.88	0.98	Buy	DDM
02/02/18	Kim Eng	Cache Logistics	0.88	0.95	Buy
02/02/18	CIMB	Cache Logistics	0.88	0.88	Hold
03/27/18	phillip	Cache Logistics	0.825	0.93	Accumulate
04/13/18	phillip	Cache Logistics	0.84	0.91	Accumulate	DDM
04/16/18	Kim Eng	Cache Logistics	0.83	0.95	Buy
04/26/18	DBS Vickers	Cache Logistics	0.83	0.88	Hold
04/26/18	OCBC	Cache Logistics	0.83	0.83	Hold
04/26/18	CIMB	Cache Logistics	0.83	0.8	Hold	DDM
04/27/18	DMG & Partners	Cache Logistics	0.825	0.98	Buy	DDM
05/17/18	DMG & Partners	Cache Logistics	0.795	0.98	Buy
05/21/18	phillip	Cache Logistics	0.805	0.91	Accumulate
05/24/18	OCBC	Cache Logistics	0.795	0.83	Hold
06/26/18	CIMB	Cache Logistics	0.76	0.8	Hold
07/06/18	DBS Vickers	Cache Logistics	0.76	0.88	Hold
08/01/18	OCBC	Cache Logistics	0.775	0.81	Buy
08/01/18	phillip	Cache Logistics	0.775	0.82	Neutral	DDM
08/01/18	Kim Eng	Cache Logistics	0.775	0.95	Buy	DDM
08/01/18	CIMB	Cache Logistics	0.775	0.78	Hold	DDM
08/01/18	DBS Vickers	Cache Logistics	0.775	0.88	Hold
10/16/18	DMG & Partners	Cache Logistics	0.71	0.84	Buy	DDM
10/17/18	phillip	Cache Logistics	0.715	0.82	Neutral
10/29/18	phillip	Cache Logistics	0.71	0.75	Neutral	DDM
10/29/18	OCBC	Cache Logistics	0.71	0.78	Buy
10/29/18	CIMB	Cache Logistics	0.71	0.78	Hold
10/30/18	DBS Vickers	Cache Logistics	0.71	0.75	Hold	DCF
11/21/18	phillip	Cache Logistics	0.665	0.75	Neutral
12/11/18	DMG & Partners	Cache Logistics	0.7	0.84	Buy

Bumitama - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/15/18	DBS Vickers	Bumitama	0.755	0.94	Buy
02/13/18	Kim Eng	Bumitama	0.695	0.95	Buy
02/21/18	UOB Kay Hian	Bumitama	0.71	0.96	Buy	PER13x FY18
02/28/18	DMG & Partners	Bumitama	0.745	0.85	Buy	PER12x FY18
02/28/18	DBS Vickers	Bumitama	0.745	0.94	Buy	DCF, PER14.5x FY18
02/28/18	Kim Eng	Bumitama	0.745	0.99	Buy	PER14x FY18
02/28/18	Credit Suisse	Bumitama	0.745	1	Outperform
03/05/18	Kim Eng	Bumitama	0.72	0.99	Buy
03/07/18	UOB Kay Hian	Bumitama	0.71	0.96	Buy	PER13x FY18
03/14/18	DBS Vickers	Bumitama	0.715	0.94	Buy
04/03/18	DBS Vickers	Bumitama	0.72	0.94	Buy
05/08/18	DMG & Partners	Bumitama	0.69	0.85	Buy	PER12x FY18
05/09/18	Kim Eng	Bumitama	0.67	0.99	Buy	PER14x FY18
05/09/18	UOB Kay Hian	Bumitama	0.67	0.8	Buy	PER11x FY18
05/09/18	DBS Vickers	Bumitama	0.67	0.94	Buy	DCF, PER15.3x FY18
06/21/18	UOB Kay Hian	Bumitama	0.65	0.8	Buy
07/03/18	DBS Vickers	Bumitama	0.635	0.88	Buy	DCF, PER13.7x FY19
07/11/18	Kim Eng	Bumitama	0.65	0.98	Buy
07/16/18	UOB Kay Hian	Bumitama	0.65	0.93	Buy	PER11x FY18
08/15/18	DBS Vickers	Bumitama	0.705	0.88	Buy	DCF, PER13.7x FY19
08/15/18	DMG & Partners	Bumitama	0.705	0.8	Buy	PER11x FY19
08/16/18	UOB Kay Hian	Bumitama	0.7	0.93	Buy
09/13/18	Kim Eng	Bumitama	0.675	0.98	Buy
09/13/18	DBS Vickers	Bumitama	0.675	0.88	Buy
10/08/18	UOB Kay Hian	Bumitama	0.68	0.93	Buy
10/11/18	DBS Vickers	Bumitama	0.66	0.85	Buy	DCF
10/11/18	Kim Eng	Bumitama	0.66	0.98	Buy
11/12/18	DMG & Partners	Bumitama	0.62	0.8	Buy	PER11x FY19
11/13/18	DBS Vickers	Bumitama	0.61	0.85	Buy	DCF, PER14.5x FY19
11/13/18	UOB Kay Hian	Bumitama	0.61	0.81	Buy	PER11x FY19
11/13/18	Kim Eng	Bumitama	0.61	0.98	Buy
12/10/18	DMG & Partners	Bumitama	0.635	0.6	Neutral	PER11x FY19
01/03/19	UOB Kay Hian	Bumitama	0.67	0.81	Buy

Bukit Sembawang - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/16/18	Kim Eng	Bukit Sembawang	6.39	8.25	Buy	RNAV (38% discount), PB1.37x
02/22/18	Kim Eng	Bukit Sembawang	6.13	8.25	Buy	RNAV (20% discount)
03/20/18	Kim Eng	Bukit Sembawang	6.03	8.55	Buy	RNAV (20% discount)
04/11/18	Kim Eng	Bukit Sembawang	6.08	8.55	Buy
05/25/18	Kim Eng	Bukit Sembawang	6.17	8.55	Buy	RNAV (20% discount)
06/20/18	Kim Eng	Bukit Sembawang	6.04	8.55	Buy
07/09/18	Kim Eng	Bukit Sembawang	5.31	5.1	Hold
09/06/18	Kim Eng	Bukit Sembawang	5.92	5.1	Hold

Stock calls for 10 January 2019

Date	Analyst	Company	Last	Target	Call	Valuation
01/10/19	OCBC	ART	1.1	1.18	Buy
01/10/19	CIMB	ART	1.1	1.13	Hold	DDM
01/10/19	Lim & Tan	Duty Free	0.192	0	Accumulate
01/10/19	DIR	Keppel Corp	6.18	7.15	Buy	Cut from $7.86, Sum of parts
01/10/19	DIR	Sembcorp Industries	2.64	3.05	Outperform	Sum of parts
01/10/19	DIR	Sembcorp Marine	1.62	1.62	Hold	Cut from $1.78, PB1.8x FY19
01/10/19	UOB Kay Hian	Sunpower	0.385	0.76	Buy	Sum of parts

Is Canada truly a rule of law country? NO!

https://sg.finance.yahoo.com/news/china-ambassador-accuses-canada-allies-031437548.html

Canada labels China as a rule by law country while it proclaims itself as a rule of law country.

http://www.duhaime.org/LegalDictionary/R/RuleofLaw.aspx

Basically, a rule of law means a government of law, not by men. Therefore, it will submit and obey the rules or laws.

Although this is what Canada preaches, it doesn't really practise it.  Let's look at the recent event.

http://sg-stock.blogspot.com/2018/11/canada-has-given-trump-tight-slap-in.html

Canada signed the new NAFTA with US and Mexico with a poison clause that didn't allow it to sign FTA with a non-market economy (China).  It was supposed to submit itself to the new NAFTA and obey the clause.  However, Canada tried to wiggle itself out of the new NAFTA to strike a FTA with China before the Huawei's CFO incident.

Therefore, Canada is also a country ruled by law, not rule of law!  Don't try to hoodwink the world, Canada!

What's the outcome of the US-China trade talk?

https://sg.finance.yahoo.com/news/china-says-us-trade-talks-020243121.html

It seemed that nothing was concluded at the US-China trade talk.  No wonder neither country made any formal announcement on the trade deal after the trade talk.

The stock investors were too optimistic over the trade talk because of Trump's tweets and plunged into the stock markets with some zest.  Now, profit-taking is starting to take place after the no-deal talk.

The US-China trade talk has concluded but nothing is announced insofar.

This is very uncanny because Trump is very narcissistic and always claims the credit.  However, this US-China trade talk has ended with a hush.

Let's keep our fingers crossed!

Singapore seeks closer SG-Sino ties after SG-MY relations turn south.

https://www.straitstimes.com/asia/east-asia/singapore-welcomes-asean-countries-to-use-new-trade-route-to-access-western-china

Let us prosper with closer ties to China and leave Malaysia behind since Mahathir is so anti-SG.

Let us get more China ships to berth at our port and make the Malacca Gateway a white elephant.

Breadtalk - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/26/18	DMG & Partners	Breadtalk	1.72	2.09	Buy	Sum of parts
02/20/18	DMG & Partners	Breadtalk	1.69	2.09	Buy
02/23/18	DMG & Partners	Breadtalk	1.75	2	Buy	Sum of parts
02/23/18	DBS Vickers	Breadtalk	1.75	2.05	Buy	Sum of parts
03/19/18	DMG & Partners	Breadtalk	1.94	2	Take Profit	Sum of parts
05/04/18	DMG & Partners	Breadtalk	1.83	1.86	Neutral	Sum of parts
05/08/18	DBS Vickers	Breadtalk	1.78	1.98	Buy	Sum of parts
05/23/18	DMG & Partners	Breadtalk	0.925	0.93	Neutral	Sum of parts, Stock split 1-into-2
06/22/18	DMG & Partners	Breadtalk	1	0.93	Neutral
07/19/18	DMG & Partners	Breadtalk	1.1	1.04	Neutral	Sum of parts, Stock split target $0.99
08/03/18	DMG & Partners	Breadtalk	1.14	1	Sell
08/07/18	DBS Vickers	Breadtalk	1.05	1.07	Hold	Sum of parts
11/07/18	DBS Vickers	Breadtalk	0.925	0.98	Hold	Sum of parts
11/07/18	DMG & Partners	Breadtalk	0.925	0.75	Sell	Sum of parts

Boustead Projects - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/21/18	Lim & Tan	Boustead Projects	0.81	0	Hold

Boustead - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/24/18	Lim & Tan	Boustead	0.785	0	Hold

Stock calls for 9 January 2019

Date	Analyst	Company	Last	Target	Call	Percent	Valuation
01/09/19	DMG & Partners	EC World Reit	0.7	0.81	Buy	15.71

Apple cuts its Q1 production plan by 10%.

https://sg.finance.yahoo.com/news/apple-cuts-q1-production-plan-iphones-10-percent-020022653--finance.html

As expected, Apple sales are worse than forecast.

We have been warning our viewers about it.

http://sg-stock.blogspot.com/2019/01/iphone-sales-in-china-wont-be-good-in.html