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Saturday, July 13, 2019

Friday, July 12, 2019

The US-China trade war hurts the US more than China.

https://sg.finance.yahoo.com/news/china-imports-us-plunge-june-085814251.html

China's import of US goods fell 31.4% while US's import of China goods fell 7.8%.

Look like the Chinese are boycotting the US goods because the decline is fast and furious.

ARA Hospitality - Stock calls

Date Analyst Company Last Target Call Valuation
06/18/19 UOB Kay Hian ARA Hospitality 0.87 1.15 Buy

APTV - Stock calls

Date Analyst Company Last Target Call Valuation
03/01/19 Phillip APTV 0.13 0.14 Accumulate
05/16/19 Phillip APTV 0.178 0.16 Reduce EV/Ebitda11x

APAC Realty - Stock calls

Date Analyst Company Last Target Call Valuation
02/12/19 DMG & Partners APAC Realty 0.5 0.72 Buy
02/12/19 DBS Vickers APAC Realty 0.5 0.56 Hold
03/01/19 DMG & Partners APAC Realty 0.57 0.72 Buy DCF
03/01/19 DBS Vickers APAC Realty 0.57 0.7 Buy PER12x
04/04/19 DMG & Partners APAC Realty 0.615 0.72 Buy RNAV
05/07/19 DMG & Partners APAC Realty 0.555 0.72 Buy
05/14/19 DMG & Partners APAC Realty 0.545 0.67 Buy DCF
05/16/19 DBS Vickers APAC Realty 0.525 0.58 Hold PER10x
06/03/19 Phillip APAC Realty 0.5 0.65 Buy DCF
06/06/19 DMG & Partners APAC Realty 0.5 0.67 Buy
06/07/19 CIMB APAC Realty 0.51 0.67 Add

Stock calls for 12 July 2019

Date Analyst Company Last Target Call Valuation
07/12/19 DMG & Partners DBS 25.61 30.3 Buy PB1.47x FY20
07/12/19 DBS Vickers Frasers Centrepoint Trust 2.64 2.95 Buy
07/12/19 DBS Vickers Frasers Commercial Trust 1.65 1.7 Hold DCF
07/12/19 DBS Vickers Frasers Hospitality Trust 0.72 0.77 Hold DCF
07/12/19 DMG & Partners Keppel KBS 0.79 0.88 Buy DDM
07/12/19 DMG & Partners Manulife US Reit 0.875 0.98 Buy DDM
07/12/19 CIMB SPH Reit 1.12 1.11 Hold DDM
07/12/19 Lim & Tan SPH Reit 1.12 0 Hold

Singapore 2nd QTR GDP shrank 3.4%.

https://sg.finance.yahoo.com/news/singapore-economy-shrinks-warning-global-050122956.html

This is not surprising because of the US-China trade war.  SG's export is 200% more than its GDP.  In other words, our export is 3 times our GDP.

http://sg-stock.blogspot.com/2019/06/singapore-nodx-fell-159-in-may-2019.html

SG's nodx export has been falling for 3 consecutive months as stated in our previous post above.

When international trades slow down, SG will be badly affected because our domestic consumption is too small to make up for the export slowdown.

Thursday, July 11, 2019

Amara - Stock calls

Date Analyst Company Last Target Call Valuation
03/05/19 DMG & Partners Amara 0.46 0.88 Buy RNAV (35% discount)

AIMS AMP Cap Ind Reit - Stock calls

Date Analyst Company Last Target Call Valuation
04/25/19 Kim Eng AIMS AMP Cap Ind Reit 1.42 1.5 Buy DDM
04/25/19 DBS Vickers AIMS AMP Cap Ind Reit 1.42 1.5 Buy DCF
05/16/19 DBS Vickers AIMS AMP Cap Ind Reit 1.4 1.5 Buy DCF

AEM - Stock calls

Date Analyst Company Last Target Call Valuation
01/30/19 Kim Eng AEM 0.905 1.21 Buy PB2.9x FY19/20, EV/Ebitda5.2x FY20
02/26/19 Kim Eng AEM 1.05 1.24 Buy PB2.8x FY19/20
02/26/19 CIMB AEM 1.05 1.11 Hold PER10x FY20
04/26/19 CIMB AEM 1.16 1.21 Hold PER10x FY20
05/09/19 Kim Eng AEM 1.05 1.4 Buy PB3.1x FY19/20
06/11/19 Kim Eng AEM 0.945 1.4 Buy PB3.1x FY19/20

Stock calls for 11 July 2019

Date Analyst Company Last Target Call Valuation
07/11/19 Amfrasers Comfortdelgro 2.82 2.77 Neutral PER19x FY19
07/11/19 UOB Kay Hian ISOTeam 0.245 0.3 Buy
07/11/19 CIMB Mapletree Industrial 2.29 2.32 Add DDM
07/11/19 Kim Eng Mapletree Industrial 2.29 2.4 Buy DDM
07/11/19 DBS Vickers Mapletree Industrial 2.29 2.5 Buy DCF

Wednesday, July 10, 2019

Accordia Golf Trust - Stock calls

Date Analyst Company Last Target Call Valuation
01/15/19 Amfrasers Accordia Golf Trust 0.55 0.61 Hold
02/19/19 Amfrasers Accordia Golf Trust 0.565 0.61 Buy
04/04/19 Amfrasers Accordia Golf Trust 0.59 0.72 Buy
05/31/19 Amfrasers Accordia Golf Trust 0.585 0.7 Buy

A-Reit - Stock calls

Date Analyst Company Last Target Call Valuation
01/02/19 DMG & Partners A-Reit 2.57 2.9 Buy
01/04/19 Phillip A-Reit 2.57 2.78 Accumulate
01/17/19 Kim Eng A-Reit 2.74 2.95 Buy DDM
01/22/19 UOB Kay Hian A-Reit 2.71 3.01 Buy
01/31/19 Phillip A-Reit 2.72 2.88 Accumulate DDM, PB1.34x FY19
01/31/19 CIMB A-Reit 2.72 2.83 Add DDM
01/31/19 OCBC A-Reit 2.72 2.64 Hold
01/31/19 DBS Vickers A-Reit 2.72 2.95 Buy
02/15/19 Phillip A-Reit 2.75 2.88 Accumulate
02/28/19 Kim Eng A-Reit 2.81 2.95 Buy
03/07/19 DMG & Partners A-Reit 2.83 2.9 Neutral DDM
03/07/19 CIMB A-Reit 2.83 2.83 Add
04/04/19 Kim Eng A-Reit 2.93 3.1 Buy
04/30/19 Kim Eng A-Reit 3.01 3.2 Buy DDM
04/30/19 OCBC A-Reit 3.01 2.74 Hold
04/30/19 DMG & Partners A-Reit 3.01 2.9 Neutral DDM
05/02/19 Phillip A-Reit 3 2.88 Neutral DDM
05/02/19 CIMB A-Reit 3 2.87 Hold DDM
05/02/19 DBS Vickers A-Reit 3 3.2 Buy DCF
06/19/19 Phillip A-Reit 2.98 2.88 Neutral
06/25/19 Kim Eng A-Reit 3.01 3.2 Buy
06/27/19 DBS Vickers A-Reit 3.05 3.21 Buy
07/03/19 Kim Eng A-Reit 3.13 3.3 Buy DDM
07/04/19 DMG & Partners A-Reit 3.15 2.9 Neutral

800Super - Stock calls

Date Analyst Company Last Target Call Valuation
02/13/19 Phillip 800Super 0.685 0 Cease Coverage DCF
06/10/19 Novus 800Super 0.89 0.9 Accept offer offer $0.90

Stock calls for 10 July 2019

Date Analyst Company Last Target Call Valuation
07/10/19 DMG & Partners China Aviation Oil 1.3 1.6 Buy
07/10/19 Kim Eng Comfortdelgro 2.84 2.76 Hold DCF
07/10/19 UOB Kay Hian Comfortdelgro 2.84 3.08 Buy
07/10/19 CIMB Keppel DC Reit 1.67 1.54 Add
07/10/19 CIMB Mapletree Commercial 2.05 2.03 Add
07/10/19 UOB Kay Hian Suntec Reit 1.95 2 Hold DDM, Buy @ $1.82

Tuesday, July 9, 2019

Yongnam - Stock calls

Date Analyst Company Last Target Call Valuation
01/04/19 CIMB Yongnam 0.183 0.4 Add PB0.8x FY19
01/07/19 CIMB Yongnam 0.183 0.41 Add PB0.8x FY19
03/01/19 CIMB Yongnam 0.173 0.33 Add PB0.7x FY19
04/05/19 CIMB Yongnam 0.186 0.33 Add PB0.7x FY19
05/17/19 CIMB Yongnam 0.169 0.33 Add PB0.7x FY19

Yoma - Stock calls

Date Analyst Company Last Target Call Valuation
02/12/19 DBS Vickers Yoma 0.345 0.4 Buy
04/11/19 DMG & Partners Yoma 0.32 0.57 Add Sum of parts (20% discount)
06/03/19 DBS Vickers Yoma 0.33 0.4 Buy RNAV (60% discount)

Yanlord - Stock calls

Date Analyst Company Last Target Call Valuation
03/01/19 OCBC Yanlord 1.39 1.75 Buy PER5x
04/12/19 OCBC Yanlord 1.47 1.75 Buy PER5x FY19
05/16/19 OCBC Yanlord 1.44 1.68 Buy PER5x FY19/20
05/17/19 DBS Vickers Yanlord 1.44 1.47 Hold PER6x FY19/20

Stock calls for 9 July 2019

Date Analyst Company Last Target Call Valuation
07/09/19 DMG & Partners Fu Yu 0.215 0.24 Buy DCF
07/09/19 phillip HMI 0.720 0.73 Accept offer offer at $0.73
07/09/19 UOB Kay Hian Wilmar 3.79 3.9 Buy

Fraud detected in Camsing.

https://www.businesstimes.com.sg/banking-finance/chinese-wealth-manager-alleges-34-billion-yuan-fraud-at-camsing

Look like this company will go bankrupt after the fraud scandal.  The company is listed on SGX & HKEX.  The stock has plunged 90% in HK already.