Interra Resources - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/10/19	SAC Advisors	Interra Resources	0.026	0.089	Buy	EV/IP reserves 6.4x
12/17/19	SAC Advisors	Interra Resources	0.065	0.089	Buy

Innotek - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/14/19	Lim & Tan	Innotek	0.5	0	Buy on weakness

Indofood Agri - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/12/19	DBS Vickers	Indofood Agri	0.28	0.19	Accept offer	offer price $0.28
05/02/19	DBS Vickers	Indofood Agri	0.28	0.19	Accept offer	offer price $0.28
07/16/19	DBS Vickers	Indofood Agri	0.325	0.33	Hold
08/05/19	DBS Vickers	Indofood Agri	0.32	0.29	Hold	DCF
12/10/19	DBS Vickers	Indofood Agri	0.33	0.29	Hold

Stock calls for 13 May 2020.

Date	Analyst	Company	Last	Target	Call	Valuation
05/13/20	DMG & Partners	Bumitama	0.435	0.43	Neutral	PER12x FY20
05/13/20	DBS Vickers	Bumitama	0.435	0.66	Buy	DCF
05/13/20	Kim Eng	Bumitama	0.435	0.78	Buy
05/13/20	UOB Kay Hian	City Developments	7.96	9.5	Buy
05/13/20	DBS Vickers	Fu Yu	0.22	0.21	Hold
05/13/20	Lim & Tan	Fu Yu	0.22	0	Buy on weakness
05/13/20	Macquarie	OCBC	8.89	9.67	Outperform	PB
05/13/20	UOB Kay Hian	Riverstone	1.62	2.15	Buy
05/13/20	DBS Vickers	Riverstone	1.62	2.2	Buy	PER26x FY20
05/13/20	DMG & Partners	Sembcorp Marine	0.735	1.28	Buy	PB1.26x FY20
05/13/20	DMG & Partners	Wilmar	3.82	4.83	Buy	Sum of parts
05/13/20	DBS Vickers	Wilmar	3.82	4	Buy	Sum of parts, PER16.7x FY20
05/13/20	Kim Eng	Wilmar	3.82	4.12	Buy

IHH Healthcare - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/31/19	UOB Kay Hian	IHH Healthcare	1.79	2.07	Buy	Ringgit $6.30 target price, PER32.8x FY2020
06/12/19	CIMB	IHH Healthcare	1.84	2.09	Add	Ringgit $6.37 target price
07/31/19	Kim Eng	IHH Healthcare	1.88	2.16	Buy	Sum of parts, Ringgit $6.50 target price
09/09/19	Kim Eng	IHH Healthcare	1.85	2.1	Hold	Sum of parts, Ringgit $6.30 target price
12/04/19	UOB Kay Hian	IHH Healthcare	1.74	1.94	Buy	Sum of parts, Ringgit $5.93 target price
03/02/20	Kim Eng	IHH Healthcare	1.87	2.09	Buy	Sum of parts, Ringgit $6.30 target price
03/02/20	UOB Kay Hian	IHH Healthcare	1.87	1.94	Buy	Ringgit $5.86 target price
03/02/20	CIMB	IHH Healthcare	1.87	2.07	Add	Ringgit $6.26 target price

IFS Capital - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/26/19	Amfrasers	IFS Capital	0.22	0.3	Outperform	PB0.6x FY20
11/14/19	Amfrasers	IFS Capital	0.225	0.3	Outperform	PB0.6x FY20
12/02/19	Amfrasers	IFS Capital	0.23	0.3	Outperform	PB0.6x FY20
03/11/20	Amfrasers	IFS Capital	0.2	0.3	Outperform

Ifast Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/30/19	DBS Vickers	Ifast Corp	1.12	1.05	Hold	DDM
07/30/19	DBS Vickers	Ifast Corp	1.1	1.05	Hold	DDM
11/01/19	DBS Vickers	Ifast Corp	1.01	1.05	Hold	DDM
02/21/20	DBS Vickers	Ifast Corp	1.02	1.1	Hold	DDM
04/24/20	DBS Vickers	Ifast Corp	0.975	1.27	Buy	DDM

Stock calls for 12 May 2020

Date	Analyst	Company	Last	Target	Call	Valuation
05/12/20	DMG & Partners	China Aviation Oil	1.02	1.25	Buy	Sum of parts, PER2.6x FY21 (ex-cash)
05/12/20	DBS Vickers	Frasers Hospitality Trust	0.475	0.65	Buy	PB0.9x
05/12/20	UOB Kay Hian	SIA Engineering	1.82	1.57	Sell	DDM
05/12/20	UOB Kay Hian	Wilmar	3.54	4	Buy	Sum of parts
05/12/20	CIMB	Wilmar	3.54	4.58	Add

Hyphens Pharma - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/03/19	DMG & Partners	Hyphens Pharma	0.196	0.25	Buy	DCF, PER12.2x FY19
08/20/19	DMG & Partners	Hyphens Pharma	0.2	0.25	Buy	DCF
10/15/19	DMG & Partners	Hyphens Pharma	0.199	0.25	Buy
11/08/19	SAC Advisors	Hyphens Pharma	0.195	0.285	Buy
11/20/19	DMG & Partners	Hyphens Pharma	0.21	0.25	Buy	DCF
03/04/20	DMG & Partners	Hyphens Pharma	0.23	0.27	Buy	DCF

Hutchison Port - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/30/19	OCBC	Hutchison Port	0.24	0.22	Hold
04/30/19	DBS Vickers	Hutchison Port	0.24	0.26	Hold
07/25/19	OCBC	Hutchison Port	0.225	0.22	Hold
07/26/19	DBS Vickers	Hutchison Port	0.225	0.23	Hold	DCF
09/06/19	OCBC	Hutchison Port	0.22	0.17	Hold
10/30/19	OCBC	Hutchison Port	0.158	0.155	Hold
02/11/20	DBS Vickers	Hutchison Port	0.161	0.17	Hold

HRnetGroup - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/07/19	DMG & Partners	HRnetGroup	0.77	1.06	Buy	DCF
05/13/19	DMG & Partners	HRnetGroup	0.77	0.94	Buy	DCF
05/14/19	DBS Vickers	HRnetGroup	0.76	0.85	Hold	PER16x FY19, ex-cash
06/06/19	DMG & Partners	HRnetGroup	0.71	0.94	Buy
06/13/19	CIMB	HRnetGroup	0.72	1.01	Add	PER18x CY20
08/14/19	DMG & Partners	HRnetGroup	0.66	0.94	Buy	DCF
10/15/19	DMG & Partners	HRnetGroup	0.58	0.94	Buy
11/11/19	CIMB	HRnetGroup	0.64	0.83	Add
11/11/19	DMG & Partners	HRnetGroup	0.64	0.81	Buy	DCF
02/28/20	CIMB	HRnetGroup	0.58	0.58	Hold
02/28/20	DBS Vickers	HRnetGroup	0.58	0.63	Hold	PER10x FY20, Ex-cash
03/02/20	DMG & Partners	HRnetGroup	0.56	0.61	Neutral	PER12x FY20

Stock calls for 11 May 2020

Date	Analyst	Company	Last	Target	Call	Valuation
05/11/20	CIMB	AEM	3.06	3.58	Add	GGM, PB4.86x
05/11/20	DBS Vickers	AEM	3.06	2.87	Hold	PER10x FY21
05/11/20	Phillip	Capitaland	2.93	3.94	Buy	RNAV (20% discount)
05/11/20	Kim Eng	DBS	19.7	22.1	Buy
05/11/20	Amfrasers	Frasers Centrepoint Trust	2.08	2.39	outperform
05/11/20	DMG & Partners	Manulife US Reit	0.705	0.9	Buy	DDM
05/11/20	CIMB	Manulife US Reit	0.705	1.05	Add
05/11/20	phillip	Netlink	0.985	1.03	Accumlate	DCF
05/11/20	UOB Kay Hian	Netlink	0.985	1.08	Buy
05/11/20	phillip	OCBC	8.88	9.14	Accumlate	GGM, PB0.85x
05/11/20	DMG & Partners	OCBC	8.88	8.7	Hold	PB0.81x FY20
05/11/20	Kim Eng	OCBC	8.88	9.46	Hold	DDM
05/11/20	DBS Vickers	OCBC	8.88	7.9	Hold	GGM, PB0.7x FY21
05/11/20	Lim & Tan	OCBC	8.88	0	Accumlate
05/11/20	CIMB	OCBC	8.88	8.37	Hold
05/11/20	UOB Kay Hian	OCBC	8.88	9.78	Buy	PB0.8x FY20
05/11/20	DBS Vickers	Singapore Post	0.74	0.64	Fully Valued	PER17x FY21
05/11/20	Lim & Tan	Sunningdale	1	0	Hold
05/11/20	CIMB	UMS	0.795	0.98	Add
05/11/20	phillip	UOB	19.9	20.7	Accumlate	GGM, PB0.9x FY20
05/11/20	Kim Eng	UOB	19.9	22.42	Buy
05/11/20	CIMB	UOB	19.9	19.04	Hold
05/11/20	Phillip	Venture	15.74	16.6	Accumlate	PER15x FY20
05/11/20	UOB Kay Hian	Venture	15.74	14.46	Hold	Buy @ $13.20
05/11/20	DBS Vickers	Venture	15.74	15.9	Hold	PER12.5x FY21
05/11/20	Lim & Tan	Venture	15.74	0	Hold
05/11/20	DMG & Partners	Venture	15.74	15.1	Hold	PER15x FY20
05/11/20	CIMB	Venture	15.74	16.78	Add
05/11/20	Kim Eng	Venture	15.74	14.66	Hold	PB1.6x

Baltic dry index - 514

Today, Thursday, May 07 2020, the Baltic Dry Index decreased by 20 points, reaching 514 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 - 374

Related stock: Keppel Corp, Sembcorp Marine & Cosco.

Why does the US need to work with Huawei to set the 5G standards.

https://sg.finance.yahoo.com/news/exclusive-u-drafts-rule-allow-144523358.html

The US has no choice but to work with Huawei to set the 5G standards because it is impossible to sidestep Huawei's patents to develop 5G technologies.

http://sg-stock.blogspot.com/2019/03/huawei-won-fight-in-europe-against-us.html

We had already reported this before.

The US also has to work with Huawei for the 6G developments as China is ahead in these telecommunication technologies.

Hotel Properties - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/17/19	OCBC	Hotel Properties	3.88	4.74	Buy
07/15/19	OCBC	Hotel Properties	3.69	4.74	Buy

Hongkong Land - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/10/19	DBS Vickers	Hongkong Land	6.97	8.02	Buy	RNAV (40% discount)
08/02/19	DBS Vickers	Hongkong Land	6.09	7.93	Buy
08/05/19	DBS Vickers	Hongkong Land	6.02	7.7	Buy	RNAV (40% discount)
08/06/19	CIMB	Hongkong Land	5.74	7.4	Add
08/06/19	Citibank	Hongkong Land	5.74	5.85	Sell
12/12/19	DBS Vickers	Hongkong Land	5.47	6.64	Buy	RNAV (45% discount)
12/12/19	CIMB	Hongkong Land	5.47	6.9	Add
03/06/20	DBS Vickers	Hongkong Land	5.05	5.81	Buy	RNAV (50% discount)
03/10/20	CIMB	Hongkong Land	4.55	6.05	Add
05/05/20	DBS Vickers	Hongkong Land	4.13	5.22	Buy	RNAV (55% discount)

Hong Leong Finance - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/26/19	Lim & Tan	Hong Leong Finance	2.8	0	Buy

Stock calls for 8 April 2020

Date	Analyst	Company	Last	Target	Call	Valuation
05/08/20	Kim Eng	AEM	3.58	4.04	Buy	PER4.8x FY20/21
05/08/20	Phillip	ART	0.86	1.17	Buy	DDM
05/08/20	DBS Vickers	Lendlease Reit	0.575	0.85	Buy
05/08/20	DBS Vickers	Netlink	1	1.02	Hold	DCF
05/08/20	DBS Vickers	Perennial Reit	0.5	0.83	Buy
05/08/20	UOB Kay Hian	Riverstone	1.21	1.46	Buy
05/08/20	Phillip	Starhub	1.49	1.45	Neutral	EV/Ebitda 6x FY20
05/08/20	DMG & Partners	Starhub	1.49	1.51	Neutral	DCF
05/08/20	UOB Kay Hian	Starhub	1.49	1.4	Hold	Buy @ $1.20
05/08/20	DBS Vickers	Starhub	1.49	1.75	Buy	DCF
05/08/20	Lim & Tan	Starhub	1.49	0	Take Profit
05/08/20	OCBC	Starhub	1.49	1.39	Hold
05/08/20	CIMB	Starhub	1.49	1.7	Add	DCF
05/08/20	UOB Kay Hian	Sunningdale	0.98	1.02	Hold	PB0.54x FY20, Buy @ $0.90
05/08/20	CIMB	Sunningdale	0.98	0.917	Hold
05/08/20	DBS Vickers	UOB	19.88	17.5	Hold	GGM, PB0.7x FY21

What are the scientific analyses for the origin of covid-19? - Part 2

https://www.scmp.com/news/china/science/article/3083211/coronavirus-may-have-jumped-humans-early-october-study-says

London universities had released their research that the coronavirus outbreak started as early as October 2019 and China was not the origin of the outbreak.

"In most countries, including Britain, the United States and Ireland, the genetic diversity of the samples essentially reflects the global diversity, suggesting the local epidemics came from independent introductions of the virus. However, China, where the outbreak was first reported, is a main exception to this pattern, where only a fraction of the global diversity can be found."

We support the use of the scientific method to trace the origin of the outbreak and not use media and politics to pinpoint the origin of the outbreak.

We are very happy to see more scientific researches are pointing out that China is not origin of the outbreak.

http://sg-stock.blogspot.com/2020/04/what-are-scientific-analyses-for-origin.html