Stock calls for 10 December 2019

Date	Analyst	Company	Last	Target	Call	Valuation
12/10/19	DMG & Partners	A-Reit	3.03	3	Neutral
12/10/19	DBS Vickers	AEM	1.91	2.38	Buy	PER12.1x FY20
12/10/19	DMG & Partners	Avi-Tech	0.4	0.44	Buy	DCF
12/10/19	DBS Vickers	Bumitama	0.725	0.81	Buy	DCF
12/10/19	DMG & Partners	Cache Logistics	0.72	0.8	Buy
12/10/19	DMG & Partners	CapitaCommercial	2	1.98	Neutral
12/10/19	DMG & Partners	Capitamall Trust	2.52	2.38	Neutral
12/10/19	DMG & Partners	CDL Hospitality	1.63	1.78	Buy
12/10/19	DMG & Partners	CSE Global	0.535	0.69	buy
12/10/19	DMG & Partners	EC World Reit	0.765	0.82	Buy
12/10/19	DMG & Partners	ESR-Reit	0.545	0.6	Buy
12/10/19	DBS Vickers	First Resources	1.83	2.1	Buy	DCF
12/10/19	DMG & Partners	Frasers Centrepoint Trust	2.74	2.55	Neutral
12/10/19	DMG & Partners	Frencken	0.94	0.92	Neutral	DCF
12/10/19	DMG & Partners	Fu Yu	0.25	0.27	Buy	DCF
12/10/19	DBS Vickers	Indofood Agri	0.33	0.29	Hold
12/10/19	DMG & Partners	Keppel Pacific	0.775	0.88	Buy
12/10/19	DMG & Partners	Keppel Reit	1.25	1.23	Neutral
12/10/19	DMG & Partners	Manulife US Reit	1.02	1	Buy
12/10/19	DMG & Partners	Sheng Siong	1.24	1.39	Buy	DCF
12/10/19	DMG & Partners	Silverlake	0.41	0.46	Neutral
12/10/19	DMG & Partners	Starhill	0.725	0.8	Neutral
12/10/19	DMG & Partners	Suntec Reit	1.84	2.08	Buy
12/10/19	DMG & Partners	Valuetronics	0.785	0.81	Buy
12/10/19	DMG & Partners	Venture	15.76	16.3	Neutral
12/10/19	UOB Kay Hian	Wilmar	4.1	4.75	Buy
12/10/19	DBS Vickers	Wilmar	4.1	4.6	Buy	Sum of parts, PER17.6x FY20

Will the US FED cut its rates in December?

http://sg-stock.blogspot.com/2019/10/the-us-fed-will-cut-rates-again-in.html

I believe my readers are very familiar with my methodology already.  Therefore, I'll just post the 4 interest rates for my readers.

Iorr: 1.55% (falling), Max limit is 1.75% as set by the US FED.

Effr: 1.55% (falling)

Ioer: 1.55% (falling)

On RRP: 1.45% (falling), Min limit is 1.5% as set by the US FED.

Effr: 1.55%
Ioer: 1.55%

The Effr-Ioer spread is zero which means there is no monetary tightening condition.  However, the On RRP (1.45%) is below the minimum limit set by the US FED and the other rates are still falling.  The On RRP is lower than the set limit because of the repo market intervention.

UK police brutality almost killed a protestor.

https://sg.news.yahoo.com/excruciating-pain-student-protester-describes-233029884.html

Why was the UK using police brutality against its protestors while supporting the HK protestors against HK police brutality?

We stand with UK protestors.....Fight for democracy and condemn UK police brutality!

Sanli Env - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/06/19	Tayrona	Sanli Env	0.18	0.234	Overweight

Sabana - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/12/19	DBS Vickers	Sabana	0.455	0.48	Hold	DCF
10/25/19	DBS Vickers	Sabana	0.455	0.48	Hold	DCF

Roxy-Pacific - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/17/19	DBS Vickers	Roxy-Pacific	0.405	0.39	Hold
02/25/19	OCBC	Roxy-Pacific	0.415	0.41	Hold
04/17/19	OCBC	Roxy-Pacific	0.4	0.41	Hold
05/09/19	OCBC	Roxy-Pacific	0.405	0.41	Hold
05/10/19	DBS Vickers	Roxy-Pacific	0.405	0.39	Hold	RNAV (55% discount)
07/15/19	OCBC	Roxy-Pacific	0.385	0.41	Hold
08/05/19	DBS Vickers	Roxy-Pacific	0.39	0.39	Hold	RNAV (55% discount)

Stock calls for 9 December 2019

Date	Analyst	Company	Last	Target	Call	Valuation
12/09/19	DMG & Partners	Bumitama	0.73	0.8	Buy	PER18x FY20
12/09/19	Lim & Tan	CSE Global	0.525	0	Buy
12/09/19	OCBC	Mapletree North Asia	1.18	1.36	Buy
12/09/19	UOB Kay Hian	Singtel	3.43	3.32	Hold	DCF, Buy @ $3

The US lackeys spent money to organize HK protests again.

https://www.theedgesingapore.com/news/hong-kong-protests/biggest-hong-kong-protest-months-signals-more-unrest-2020

I wonder how much the US lackeys had spent on organizing the latest large scale HK protest.  It was pretty obvious that the HK protestors won't protest without getting paid and we could see that from those failed protests.

http://sg-stock.blogspot.com/2019/12/the-hk-rioters-cannot-organize-large.html

HK is in a recession already and more retrenchments will come in 2020 if this continues.  The ordinary citizens will have to repent and regret not standing up against these protests when the day of reckoning comes.  Let's see how ordinary HK citizens will react when they cannot pay their rentals and installments after losing their jobs and businesses.

The fissure between the US and China is getting bigger. - Part 2

https://sg.news.yahoo.com/hong-kong-amcham-chairman-president-000407065.html

HK AmCham chairman and the president are getting travel restrictions in China.

https://sg.news.yahoo.com/china-tells-government-offices-remove-000103619.html

The de-americanization in China's economy is spreading from the manufacturing industry to the government sector now.  Many USA businesses will be affected since China will shift to an open-sourced system.  I hope that China will adopt Linux as the mainstream operating system for its IT infrastructure because I'm an Ubuntu user. Heehee!  This is the best opportunity for Linux to gain market share in China.

http://sg-stock.blogspot.com/2019/11/the-fissure-between-us-and-china-is.html

Baltic dry index - 1558

Today, Friday, December 06 2019, the Baltic Dry Index decreased by 17 points, reaching 1558 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.

=====================

Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count - 799

Related stock: Keppel Corp, Sembcorp Marine & Cosco.

Riverstone - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/27/19	CIMB	Riverstone	1.1	1.22	Add	PER16.7x FY20
02/27/19	DBS Vickers	Riverstone	1.1	1.19	Hold	PER16x FY19
05/14/19	CIMB	Riverstone	0.995	1.22	Add	PER16.5x FY20
05/16/19	DBS Vickers	Riverstone	0.975	1.03	Hold	PER16.8x FY19/20
08/13/19	DBS Vickers	Riverstone	0.9	1.16	Buy	PER14.5x FY20
11/11/19	CIMB	Riverstone	0.985	1.25	Add
11/11/19	DBS Vickers	Riverstone	0.985	1.16	Buy	PER14.5x FY20

Raffles Medical - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/19	phillip	Raffles Medical	1.11	1.16	Accumulate
02/20/19	UOB Kay Hian	Raffles Medical	1.12	1.3	Buy	DCF
02/26/19	DMG & Partners	Raffles Medical	1.12	1.02	Neutral	DCF
02/26/19	OCBC	Raffles Medical	1.12	1.25	Buy
02/26/19	DBS Vickers	Raffles Medical	1.12	1.12	Hold	Sum of parts, PER27x FY18/19
02/26/19	phillip	Raffles Medical	1.12	1.09	Neutral	DCF
04/30/19	DMG & Partners	Raffles Medical	1.07	1.02	Neutral
05/02/19	phillip	Raffles Medical	1.08	1.09	Neutral	DCF
05/02/19	DBS Vickers	Raffles Medical	1.08	1.12	Hold	Sum of parts
05/14/19	Kim Eng	Raffles Medical	1.02	1.13	Hold	DCF
06/12/19	CIMB	Raffles Medical	1.02	1.1	Hold
07/30/19	UOB Kay Hian	Raffles Medical	1.03	1.27	Buy	DCF
07/30/19	DMG & Partners	Raffles Medical	1.03	1.02	Neutral
07/30/19	DBS Vickers	Raffles Medical	1.03	1.12	Hold	Sum of parts
07/31/19	phillip	Raffles Medical	1.04	1.09	Neutral	DCF
07/31/19	Kim Eng	Raffles Medical	1.04	1.05	Hold	DCF
07/31/19	OCBC	Raffles Medical	1.04	1.06	Hold
10/30/19	DMG & Partners	Raffles Medical	1	1.02	Neutral	DCF
10/30/19	CIMB	Raffles Medical	1	1.16	Add	Sum of parts
10/30/19	UOB Kay Hian	Raffles Medical	1	1.27	Buy	DCF
10/30/19	DBS Vickers	Raffles Medical	1	1.12	Hold
11/05/19	phillip	Raffles Medical	1	1.05	Neutral	DCF
11/05/19	Kim Eng	Raffles Medical	1	1.07	Hold	DCF
11/05/19	OCBC	Raffles Medical	1	1.02	Hold

Q & M - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/19	phillip	Q & M	0.495	0.513	Neutral

Stock calls for 6 December 2019

Date	Analyst	Company	Last	Target	Call	Valuation
12/06/19	Phillip	A-Reit	3.01	3.25	Accumulate
12/06/19	Morgan Stanley	A-Reit	3.01	3.04	Overweight
12/06/19	Macquarie	A-Reit	3.01	2.7	Neutral
12/06/19	DMG & Partners	Comfortdelgro	2.4	2.38	Neutral	DCF
12/06/19	DBS Vickers	Lendlease Reit	0.92	1.05	Buy	DCF
12/06/19	DBS Vickers	Mapletree North Asia	1.15	1.3	Buy	DCF
12/06/19	UOB Kay Hian	Penguin	0.725	0.85	Buy
12/06/19	Amfrasers	Sunpower	0.55	0.91	outperform	Sum of parts

Propnex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/27/19	UOB Kay Hian	Propnex	0.565	0.66	Buy
04/01/19	UOB Kay Hian	Propnex	0.595	0.66	Buy
05/16/19	UOB Kay Hian	Propnex	0.505	0.6	Buy	DCF, PER10x FY19
06/03/19	phillip	Propnex	0.5	0.63	Buy	DCF
06/07/19	CIMB	Propnex	0.49	0.64	Add
08/16/19	UOB Kay Hian	Propnex	0.505	0.5	Hold
08/19/19	phillip	Propnex	0.5	0.59	Buy	DCF
10/11/19	phillip	Propnex	0.49	0.59	Buy
10/14/19	UOB Kay Hian	Propnex	0.49	0.56	Buy	PER12x FY20
11/15/19	UOB Kay Hian	Propnex	0.525	0.62	Buy	PER12x FY20
11/18/19	phillip	Propnex	0.515	0.59	Buy	DCF
11/25/19	CIMB	Propnex	0.515	0.68	Add

Prime US Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/05/19	DBS Vickers	Prime US Reit	0.94	1.05	Buy	DCF

Perennial Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/14/19	DBS Vickers	Perennial Reit	0.645	0.83	Buy	RNAV (55% discount)
04/24/19	DBS Vickers	Perennial Reit	0.65	0.83	Buy	RNAV (55% discount)
05/13/19	DBS Vickers	Perennial Reit	0.64	0.83	Buy	RNAV (55% discount)

Stock calls for 5 December 2019

Date	Analyst	Company	Last	Target	Call	Valuation
12/05/19	OCBC	Mapletree North Asia	1.16	1.41	Buy
12/05/19	CIMB	Singtel	3.4	3.7	Add	Sum of parts
12/05/19	Kim Eng	UMS	0.95	1.13	Buy	PB2.2x FY20
12/05/19	DMG & Partners	Unusual	0.27	0.42	Buy	DCF

Hot news! Russia had provided some HK intelligence to China.

https://sputniknews.com/asia/201912021077466396-why-are-ukrainian-neo-nazis-joining-the-hong-kong-protests/

The Ukranian neo-nazis had participated in HK protests and the dudes had been identified by Russia.

It was said that these dudes were financed by NED to create chaos in HK.