Stock calls for 29 May 2019

Date	Analyst	Company	Last	Target	Call	Valuation
05/29/19	phillip	Geo Energy	0.148	0.15	Neutral	PER10x
05/29/19	Kim Eng	Manulife US Reit	0.86	1	Buy	DDM

The US is targeting Singapore, Malaysia and Vietnam for the trade war now.

https://finance.yahoo.com/news/singapore-malaysia-vietnam-added-u-030842267.html

Vietnam will definitely be slaughtered by the US in the future because of its burgeoning trade surpluses with the US.  The trade surplus will keep increasing because many foreign companies are using Vietnam as a manufacturing base.

Singapore is the most aggrieved party because SG uses its currency as a monetary tool since the small population and international trading render the interest rate policy as ineffective in managing its economy.  SG will suffer greatly if the US sanctions us because we cannot use interest rate policy to manage our economy.

Malaysia is being punished because it is getting pro-China and is an Islamic country.  The western superpower doesn't like Muslims at all.

Malaysia was glad that the US didn't sign the TPP agreement.

https://sg.news.yahoo.com/malaysia-send-3-000-tonnes-plastic-waste-back-074356147.html

If Malaysia were part of the original TPP, it couldn't send back or sue the US and Japan for dumping waste in its homeland.

http://sg-stock.blogspot.com/2017/05/fearmongering-by-western-media.html

Malaysia would need to compensate the US and Japan for their losses under the original TPP.

What a relief for Malaysia!

Federal express (FedEx) is also a US state agent!

https://sg.finance.yahoo.com/news/exclusive-huawei-reviewing-fedex-relationship-says-packages-diverted-185215043--finance.html

FedEx is also a US state agent and is working discreetly with the US government to channel China posts and packages to the US.

The lame excuse of rerouting error is really ridiculous because it is an expensive error to make to reroute to the US.

Keppel Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/19	OCBC	Keppel Corp	5.81	7.25	Buy	Sum of parts
01/10/19	DIR	Keppel Corp	6.18	7.15	Buy	Cut from $7.86, Sum of parts
01/23/19	CIMB	Keppel Corp	6.17	8.28	Add
01/25/19	OCBC	Keppel Corp	6.13	7.55	Buy
01/25/19	CIMB	Keppel Corp	6.13	8.41	Add	Sum of parts
01/28/19	Lim & Tan	Keppel Corp	6.2	0	Hold
01/29/19	Amfrasers	Keppel Corp	6.14	7.5	Hold
01/29/19	Macquarie	Keppel Corp	6.14	8.2	Outperform	Sum of parts
02/21/19	CIMB	Keppel Corp	6.32	8.41	Add	Sum of parts
03/12/19	Lim & Tan	Keppel Corp	6.1	0	Hold
03/26/19	CIMB	Keppel Corp	6.17	8.41	Add
04/15/19	CIMB	Keppel Corp	6.62	8.41	Add	Sum of parts
04/22/19	OCBC	Keppel Corp	6.74	7.83	Buy
04/22/19	Lim & Tan	Keppel Corp	6.74	0	Hold
05/08/19	CIMB	Keppel Corp	6.72	8.41	Add	Sum of parts

Jumbo - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/15/19	DBS Vickers	Jumbo	0.415	0.44	Hold	PER23x FY19
02/15/19	CIMB	Jumbo	0.415	0.52	Add	PER21x FY20
02/18/19	UOB Kay Hian	Jumbo	0.415	0.41	Hold	Buy @ $0.37
03/14/19	UOB Kay Hian	Jumbo	0.405	0.41	Hold	PER20x FY19, Buy @ $0.37
03/29/19	DBS Vickers	Jumbo	0.395	0.5	Buy	PER23x FY19/20
05/16/19	DBS Vickers	Jumbo	0.405	0.51	Buy	PER23x FY19
05/16/19	UOB Kay Hian	Jumbo	0.405	0.41	Hold	PER20x FY19, Buy @ $0.37
05/16/19	CIMB	Jumbo	0.405	0.52	Add	PER21x FY20

Jardine C&C - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/19	DBS Vickers	Jardine C&C	35.28	43.1	Buy
05/02/19	DBS Vickers	Jardine C&C	35.52	39.1	Buy	Sum of parts (16% discount)

Stock calls for 28 May 2019

Date	Analyst	Company	Last	Target	Call	Valuation
05/28/19	CIMB	Comfortdelgro	2.45	2.82	Add
05/28/19	CIMB	CSE Global	0.475	0.6	Add
05/28/19	CIMB	Golden Agri	0.26	0.23	Reduce	Sum of parts (10% discount)
05/28/19	UOB Kay Hian	Golden Agri	0.26	0.21	Sell
05/28/19	CIMB	Mapletree Commercial	1.93	2.03	Add
05/28/19	CIMB	Suntec Reit	1.82	2.06	Add
05/28/19	OCBC	Thai Beverage	0.805	0.86	Hold

No trade deal between US and China in G20 summit in June 2019.

https://www.scmp.com/news/china/diplomacy/article/3011955/donald-trump-says-us-isnt-ready-china-trade-deal-and-they

Trump has just indicated that the US is not ready to make a deal with China and the US tariffs on China goods will increase substantially.

The US economy must suffer quite a lot first before the US will renegotiate with China again.  It will take some time for the bad US economic numbers to surface.  We just need to be patient.

Japfa - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/29/19	CIMB	Japfa	0.82	0.9	Add	Sum of parts
01/30/19	Kim Eng	Japfa	0.81	0.99	Buy
03/01/19	CIMB	Japfa	0.765	0.9	Add	Sum of parts
03/05/19	UOB Kay Hian	Japfa	0.705	0.98	Buy	Sum of parts, PER10.7x FY19
03/05/19	DBS Vickers	Japfa	0.705	0.8	Buy	Sum of parts (15% discount), PER11.4x FY19
03/14/19	CIMB	Japfa	0.715	0.63	Reduce	Sum of parts
03/21/19	Kim Eng	Japfa	0.65	1.05	Buy	Sum of parts
04/02/19	Kim Eng	Japfa	0.665	1.05	Buy
05/03/19	UOB Kay Hian	Japfa	0.605	0.73	Buy	Sum of parts
05/03/19	DBS Vickers	Japfa	0.605	0.61	Hold	Sum of parts (10% discount), PER14x FY19
05/27/19	Kim Eng	Japfa	0.575	0.93	Buy	Sum of parts

Japan Foods - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/12/19	Amfrasers	Japan Foods	0.415	0.57	Hold	DCF
03/08/19	DMG & Partners	Japan Foods	0.43	0.45	Neutral
04/05/19	DMG & Partners	Japan Foods	0.435	0.45	Neutral
05/22/19	Amfrasers	Japan Foods	0.44	0.55	Neutral	DCF
05/23/19	DMG & Partners	Japan Foods	0.44	0.4	Hold

Jadason - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	CIMB	Jadason	0.02	0.066	Add
05/13/19	CIMB	Jadason	0.038	0.059	Add	PB1x CY19

Stock calls for 27 May 2019

Date	Analyst	Company	Last	Target	Call	Valuation
05/27/19	DBS Vickers	Capitaland	3.28	4	Buy	RNAV (25% discount)
05/27/19	UOB Kay Hian	Capitamall Trust	2.44	2.65	Buy	DDM
05/27/19	OCBC	Golden Agri	0.265	0.27	Hold
05/27/19	Kim Eng	Japfa	0.575	0.93	Buy	Sum of parts
05/27/19	CIMB	Penguin	0.445	0.72	Add	PB1x FY19
05/27/19	DMG & Partners	Valuetronics	0.61	0.67	Neutral	DCF

Apple is resorting to selling customers' data to make up for revenue losses in China. Hahaha!

https://www.businesstimes.com.sg/technology/apple-accused-of-selling-itunes-customers-listening-data

Database selling is a lucrative business because the same set of data can be sold many times.  Apple is caught selling its customers' data and many American firms are doing the same thing.  Is Apple trying to make up for the revenue losses in China? Hahaha!

Baltic dry index - 1068

Today, Friday, May 24 2019, the Baltic Dry Index decreased by 2 points, reaching 1068 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 stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count - 983

Related stock: Keppel Corp, Sembcorp Marine & Cosco.

Google has just killed its own future!

Why?

Google acted as a US state agent by terminating its Android services with Huawei.  This has raised an alarming signal to other nations that they cannot depend on "free" services from Google because it will pursue US political interests.  Therefore, China, India and the EU will develop their own mobile and PC platforms in the future to prevent the same occurrence from happening to them.  Nobody wants to be held hostage by the US anymore.

These alternative platforms will marginalize Google services in the future and make Google weaker.  This is exactly the same significant mistake made by Nokia in the past when Nokia didn't focus on smartphone developments.

Personally, I would like to see Linux ecosystem being developed worldwide so that we won't be held hostage by anybody.

Wow! Li Huan Wu has gotten married in South Africa!

https://sg.news.yahoo.com/li-huanwu-grandson-of-lee-kuan-yew-marries-male-partner-in-south-africa-131110327.html

This is Lee Hsien Yang's 2nd son!

http://sg-stock.blogspot.com/2018/07/the-lee-family-has-gay-genes.html

ISOTeam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/18/19	DMG & Partners	ISOTeam	0.22	0.23	Neutral	DCF
05/15/19	DMG & Partners	ISOTeam	0.22	0.29	Buy	DCF

ISDN - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/23/19	CIMB	ISDN	0.215	0.32	Add	PER10x CY20