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Wednesday, December 11, 2019

SGX - Stock calls

Date Analyst Company Last Target Call Valuation
01/04/19 phillip SGX 7.15 9.01 Buy
01/25/19 CIMB SGX 7.5 7.9 Add PER22.1x FY20
01/25/19 DMG & Partners SGX 7.5 8.2 Buy PER22x FY20
01/28/19 phillip SGX 7.57 8.36 Buy PER23.2x FY19
01/28/19 OCBC SGX 7.57 7.98 Buy PER22x F19/20
02/22/19 Citibank SGX 7.87 7.8 Hold
03/12/19 Citibank SGX 7.46 7 Sell
03/14/19 DBS Vickers SGX 7.26 7.05 Hold DDM, PER20x CY20
03/19/19 phillip SGX 7.31 8.17 Accumulate PER23.2x
04/05/19 DMG & Partners SGX 7.42 8.1 Buy PER23x FY20
04/26/19 OCBC SGX 7.26 7.6 Hold PER21x FY20
04/26/19 DBS Vickers SGX 7.26 7.05 Hold DDM, PER20x FY20
04/26/19 Kim Eng SGX 7.26 8.79 Buy PER23x FY19
04/29/19 phillip SGX 7.4 8.09 Accumulate PER21.4x
04/29/19 CIMB SGX 7.4 7.9 Add PER22.1x FY20
06/28/19 DBS Vickers SGX 7.95 7.05 Hold DDM, PER20x FY20
07/15/19 phillip SGX 7.99 8.09 Accumulate PER21.4x
08/01/19 DMG & Partners SGX 7.92 8.1 Neutral PER23x FY20
08/01/19 DBS Vickers SGX 7.92 8.3 Buy DDM
08/02/19 phillip SGX 7.78 8.09 Accumulate PER21x
08/05/19 CIMB SGX 7.98 8.1 Hold PER21.5x
10/02/19 phillip SGX 8.5 8.6 Accumulate PER22x
10/02/19 OCBC SGX 8.5 7.6 Hold
10/09/19 DMG & Partners SGX 8.4 8.1 Neutral PER23x FY20
10/25/19 DMG & Partners SGX 8.28 8.3 Neutral PER23x FY20
10/25/19 CIMB SGX 8.28 9 Add PER22.4x FY20
10/25/19 OCBC SGX 8.28 8.6 Hold PER22x FY20
10/25/19 DBS Vickers SGX 8.28 8.9 Buy DDM, PER21x FY20
11/25/19 phillip SGX 8.97 8.6 Neutral PER22x

Sembcorp Marine - Stock calls

Date Analyst Company Last Target Call Valuation
01/10/19 DIR Sembcorp Marine 1.62 1.62 Hold Cut from $1.78, PB1.8x FY19
01/22/19 Amfrasers Sembcorp Marine 1.66 2.5 Buy
02/01/19 UOB Kay Hian Sembcorp Marine 1.6 1.83 Hold PB1.7x FY19, Buy @ $1.50
02/04/19 DBS Vickers Sembcorp Marine 1.59 2.4 Buy PB2.1x FY19
02/21/19 CIMB Sembcorp Marine 1.68 2.21 Add PB2x CY19
02/21/19 OCBC Sembcorp Marine 1.68 1.77 Hold
02/21/19 phillip Sembcorp Marine 1.68 1.76 Neutral PB1.6x
02/21/19 Lim & Tan Sembcorp Marine 1.68 0 Hold
02/26/19 Amfrasers Sembcorp Marine 1.72 2.48 Buy
04/09/19 Amfrasers Sembcorp Marine 1.7 2.48 Buy
04/09/19 DBS Vickers Sembcorp Marine 1.7 2.4 Buy
05/03/19 CIMB Sembcorp Marine 1.69 2.21 Add PB2x
05/06/19 phillip Sembcorp Marine 1.67 1.76 Neutral PB1.6x
05/06/19 OCBC Sembcorp Marine 1.67 1.77 Hold
05/06/19 Amfrasers Sembcorp Marine 1.67 2.48 Buy
05/06/19 DBS Vickers Sembcorp Marine 1.67 2.4 Buy PB2.1x FY19
05/30/19 OCBC Sembcorp Marine 1.45 1.6 Hold PB1.45x
06/04/19 DMG & Partners Sembcorp Marine 1.39 1.99 Buy PB1.8x FY20
07/03/19 CIMB Sembcorp Marine 1.54 1.75 Add PB1.6x CY19
07/03/19 OCBC Sembcorp Marine 1.54 1.6 Hold
07/04/19 Macquarie Sembcorp Marine 1.41 1.57 Neutral
07/04/19 DBS Vickers Sembcorp Marine 1.41 2.4 Buy
07/31/19 DBS Vickers Sembcorp Marine 1.36 1.9 Buy PB1.8x FY19
07/31/19 Amfrasers Sembcorp Marine 1.36 1.59 Neutral PB1.6x FY19
07/31/19 DMG & Partners Sembcorp Marine 1.36 1.8 Buy PB1.64x FY20
07/31/19 CIMB Sembcorp Marine 1.36 1.16 Reduce PB1.1x
07/31/19 UOB Kay Hian Sembcorp Marine 1.36 1.32 Hold DCF, Buy @ $1.25
08/06/19 Macquarie Sembcorp Marine 1.28 1.4 Neutral PB
09/03/19 UOB Kay Hian Sembcorp Marine 1.16 1.22 Hold Buy @ $1.10
09/03/19 DMG & Partners Sembcorp Marine 1.16 1.63 Buy PB1.48x FY20
09/09/19 CIMB Sembcorp Marine 1.19 1.26 Hold PB1.2x CY19
10/09/19 CIMB Sembcorp Marine 1.2 1.26 Hold PB1.2x CY19
10/09/19 OCBC Sembcorp Marine 1.2 1.29 Hold
10/09/19 DBS Vickers Sembcorp Marine 1.2 1.9 Buy
10/25/19 DBS Vickers Sembcorp Marine 1.4 1.45 Hold
11/12/19 UOB Kay Hian Sembcorp Marine 1.33 1.22 Sell
11/13/19 OCBC Sembcorp Marine 1.34 1.24 Sell
11/14/19 DMG & Partners Sembcorp Marine 1.29 1.6 Buy PB1.47x FY20
11/14/19 UOB Kay Hian Sembcorp Marine 1.29 1.17 Sell
11/14/19 CIMB Sembcorp Marine 1.29 1.26 Hold PB1.2x CY21
11/15/19 Macquarie Sembcorp Marine 1.28 1.4 Neutral DCF
11/15/19 DBS Vickers Sembcorp Marine 1.28 1.4 Hold PB1.3x FY20

Stock calls for 11 December 2019

Date Analyst Company Last Target Call Valuation
12/11/19 DMG & Partners Amara 0.45 0.88 Buy
12/11/19 DMG & Partners Breadtalk 0.625 0.67 Neutral
12/11/19 Lim & Tan City Developments 10.54 0 Buy
12/11/19 DMG & Partners Dairy Farm 5.9 6.63 Neutral
12/11/19 DMG & Partners Delfi 1 1.68 Buy
12/11/19 DMG & Partners Food Empire 0.6 0.73 Buy
12/11/19 DMG & Partners Genting 0.915 0.97 Neutral
12/11/19 DMG & Partners Japan Foods 0.425 0.4 Neutral
12/11/19 DMG & Partners Kimly 0.245 0.24 Neutral
12/11/19 SAC Capital Koufu 0.765 0.87 Buy
12/11/19 DMG & Partners Mindchamps 0.46 0.87 Buy
12/11/19 DMG & Partners Thai Beverage 0.89 0.95 Neutral
12/11/19 UOB Kay Hian Yangzijiang 1.09 1.46 Buy

Tuesday, December 10, 2019

Sembcorp Industries - Stock calls

Date Analyst Company Last Target Call Valuation
01/10/19 DIR Sembcorp Industries 2.64 3.05 Outperform Sum of parts, cut from $3.26
01/15/19 UOB Kay Hian Sembcorp Industries 2.63 3.2 Buy Sum of parts
01/23/19 CIMB Sembcorp Industries 2.69 3.49 Add
02/01/19 UOB Kay Hian Sembcorp Industries 2.59 3.2 Buy
02/04/19 DBS Vickers Sembcorp Industries 2.58 3.7 Buy
02/21/19 Lim & Tan Sembcorp Industries 2.66 0 Hold
02/25/19 DBS Vickers Sembcorp Industries 2.67 3.9 Buy RNAV (10% discount), PB1x
03/13/19 UOB Kay Hian Sembcorp Industries 2.57 2.8 Hold Sum of parts, Buy @ $2.35
03/18/19 Lim & Tan Sembcorp Industries 2.52 0 Hold
04/09/19 DBS Vickers Sembcorp Industries 2.75 3.9 Buy
05/16/19 OCBC Sembcorp Industries 2.54 3.13 Buy Sum of parts
05/16/19 DBS Vickers Sembcorp Industries 2.54 3.9 Buy Sum of parts, PB1x
05/16/19 CIMB Sembcorp Industries 2.54 3.41 Add Sum of parts
05/17/19 phillip Sembcorp Industries 2.55 3.75 Buy Sum of parts
06/04/19 OCBC Sembcorp Industries 2.38 3.03 Buy Sum of parts
07/03/19 OCBC Sembcorp Industries 2.47 3.03 Buy
07/04/19 Macquarie Sembcorp Industries 2.41 2.84 Outperform
08/15/19 CIMB Sembcorp Industries 2.26 2.83 Add Sum of parts
08/15/19 UOB Kay Hian Sembcorp Industries 2.26 2.34 Hold
08/16/19 DBS Vickers Sembcorp Industries 2.26 3.2 Buy Sum of parts (10% discount), PER16x FY19, PB0.8x FY19
09/12/19 DBS Vickers Sembcorp Industries 2.21 3.2 Buy Sum of parts (10% discount), PER16x FY19, PB0.8x FY19
09/12/19 Lim & Tan Sembcorp Industries 2.21 0 Buy
09/18/19 DMG & Partners Sembcorp Industries 2.22 2.68 Buy Sum of parts, PER9.9x FY20
09/18/19 OCBC Sembcorp Industries 2.22 2.79 Buy
10/07/19 UOB Kay Hian Sembcorp Industries 2.06 2.22 Hold Buy @ $2
10/08/19 CIMB Sembcorp Industries 2.08 2.83 Add Sum of parts
10/09/19 DBS Vickers Sembcorp Industries 2.11 3.2 Buy
10/25/19 DBS Vickers Sembcorp Industries 2.28 2.9 Buy
11/15/19 OCBC Sembcorp Industries 2.29 2.51 Hold Sum of parts
11/15/19 DMG & Partners Sembcorp Industries 2.29 2.68 Buy Sum of parts (20% discount), PER10x FY20
11/18/19 UOB Kay Hian Sembcorp Industries 2.26 2.19 Hold Buy @ $2
11/18/19 DBS Vickers Sembcorp Industries 2.26 2.9 Buy RNAV (10% discount), PB0.7x

SATS - Stock calls

Date Analyst Company Last Target Call Valuation
01/04/19 UOB Kay Hian SATS 4.59 5.6 Buy
01/11/19 OCBC SATS 4.94 5.23 Hold DCF
02/08/19 UOB Kay Hian SATS 4.8 5.6 Buy
02/14/19 phillip SATS 4.98 5.47 Accumulate DCF, PER24.6x FY19
02/14/19 OCBC SATS 4.98 5.23 Hold
02/14/19 CIMB SATS 4.98 5.46 Add PER20.3x
02/14/19 Lim & Tan SATS 4.98 0 Hold
02/14/19 DBS Vickers SATS 4.98 5.59 Buy DCF & PER22x FY19
02/14/19 Kim Eng SATS 4.98 5.8 Buy
02/15/19 Citi Research SATS 5.08 6 Buy
03/26/19 UOB Kay Hian SATS 5.06 5.6 Buy
04/15/19 Kim Eng SATS 5.31 5.8 Buy
05/13/19 UOB Kay Hian SATS 5.27 5.6 Buy
05/17/19 OCBC SATS 5.22 5.35 Hold
05/21/19 phillip SATS 5.08 5.47 Accumulate DCF, PER24x FY19
05/21/19 UOB Kay Hian SATS 5.08 5.05 Hold Buy @ 4.60
05/21/19 DBS Vickers SATS 5.08 5.44 Buy DCF & PER22x FY20
06/03/19 UOB Kay Hian SATS 5.07 5.05 Hold Buy @ $4.70
06/06/19 DBS Vickers SATS 5.04 5.44 Buy
06/12/19 Kim Eng SATS 5.04 6.1 Buy DCF
06/17/19 CIMB SATS 5.14 5.4 Add PER21.9x CY20
07/05/19 Kim Eng SATS 5.36 6.1 Buy DCF
07/15/19 UOB Kay Hian SATS 5.37 5.05 Sell
07/19/19 UOB Kay Hian SATS 5.32 4.8 Sell
07/19/19 DBS Vickers SATS 5.32 5 Hold DCF
07/19/19 CIMB SATS 5.32 5.4 Hold PER21.9x CY20
07/22/19 OCBC SATS 5 5.28 Hold FCFF
07/22/19 phillip SATS 5 5.47 Accumulate
07/22/19 Lim & Tan SATS 5 0 Hold
09/20/19 Kim Eng SATS 4.78 6.1 Buy
10/15/19 UOB Kay Hian SATS 4.82 5.3 Buy DCF
11/13/19 UOB Kay Hian SATS 5.09 5.3 Buy
11/14/19 DBS Vickers SATS 4.99 5.06 Hold DCF & PER22x FY21
11/19/19 phillip SATS 5.07 5.36 Accumulate DCF, PER23.3x FY19
11/19/19 OCBC SATS 5.07 5.28 Hold
11/25/19 Kim Eng SATS 5.06 6.1 Buy

Sasseur - Stock calls

Date Analyst Company Last Target Call Valuation
02/20/19 Kim Eng Sasseur 0.74 0.9 Buy DDM
02/20/19 DBS Vickers Sasseur 0.74 0.97 Buy DCF
04/03/19 CIMB Sasseur 0.78 0.92 Add
06/25/19 Kim Eng Sasseur 0.79 0.9 Buy
08/08/19 DBS Vickers Sasseur 0.8 0.97 Buy DCF
08/13/19 CIMB Sasseur 0.805 0.94 Add DDM
10/30/19 UOB Kay Hian Sasseur 0.8 0.97 Buy DDM
11/18/19 Kim Eng Sasseur 0.845 1 Buy DDM
11/18/19 UOB Kay Hian Sasseur 0.845 0.97 Buy
11/18/19 DBS Vickers Sasseur 0.845 0.97 Buy
11/20/19 CIMB Sasseur 0.85 0.94 Add

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!

Monday, December 9, 2019

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

Saturday, December 7, 2019

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.
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Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count - 799


Related stock: Keppel Corp, Sembcorp Marine & Cosco.

Friday, December 6, 2019

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