Stock calls for 19 August 2024

Date	Analyst	Company	Last	Target	Call	Valuation
08/19/24	Phillip	17Live Group	0.875	1.8	Buy	DCF
08/19/24	DBS Vickers	APAC Realty	0.385	0.48	Hold
08/19/24	Phillip	Capitaland Investment	2.57	3.38	Buy	Sum of parts
08/19/24	UOB Kay Hian	Centurion	0.655	0.85	Buy
08/19/24	DMG & Partners	Centurion	0.655	0.76	Buy	PER7.5x FY24/25
08/19/24	OCBC	China Aviation Oil	0.875	1.1	Buy
08/19/24	phillip	City Developments	5.08	6.87	Buy	RNAV (45% disc)
08/19/24	phillip	Comfortdelgro	1.43	1.63	Buy	DCF
08/19/24	CIMB	Delfi	0.815	1.07	Add
08/19/24	DBS Vickers	Frencken	1.4	1.77	Buy	PER15x FY25
08/19/24	UOB Kay Hian	Frencken	1.4	1.74	Buy
08/19/24	CIMB	Nanofilm	0.715	0.59	Reduce
08/19/24	DBS Vickers	Propnex	0.785	0.95	Hold
08/19/24	DBS Vickers	Raffles Medical	0.905	0.97	Hold
08/19/24	UOB Kay Hian	Singapore Post	0.44	0.61	Buy	Sum of parts
08/19/24	Lim & Tan	Singapore Post	0.44	0.62	Accumulate
08/19/24	Phillip	Singtel	2.98	3.44	Accumulate	Sum of parts
08/19/24	Phillip	ST Engineering	4.56	5	Accumulate	DCF
08/19/24	Phillip	Starhub	1.28	1.29	Neutral	EV/Ebitda6.5x FY24
08/19/24	phillip	UOB	30.43	34.9	Buy
08/19/24	CIMB	UOB	30.43	34.5	Add
08/19/24	CIMB	Yangzijiang Financial	0.345	0.42	Add

Baltic dry index - 1691

Related stock: Seatrium, Cosco & Pan Ocean.

US rig count (weekly) - 586

Related stock: Seatrium & Cosco.

Cryptos such as Bitcoin (BTC) are coming to an end! Why? - Part 4

It's getting harder for cryptos to survive if Kamala is elected as US president and the crypto mining tax is implemented by IMF.

The proposed crypto mining tax will increase the mining cost and put many miners out of operations.  Currently, the crypto mining cost is already much higher than bitcoin price that is causing many miners to operate at losses.

What's the problems with a high mining cost?

Well, many miners will just shut down or lease out their mining rigs for other purposes which will reduce the computational power (hashrate) in the blockchain network.  The reduction in the hashrate will increase security risks because it is easier for hackers to take over the blockchain network since less computational power is required for hacking.

We've stated previously that cryptos have 3 insurmountable problems.  Please read below for more details.

https://sg-stock.blogspot.com/2024/06/cryptos-such-as-bitcoin-btc-are-coming.html

Do you still think crypto has a future?

Singapore NODX increased by 15.7% in July 2024

https://english.news.cn/asiapacific/20240816/a743d9c9a4be46499f2e6d47ef42ef29/c.html

Year-on-year changes:

July 2024: 15.7%

June 2024: -8.7%

May 2024: -0.1%

April 2024: -9.6%

March 2024: -20.7%

February 2024: -0.1%

January 2024: +16.8%

December 2023: -1.5%

November 2023: 1%

October 2023: -3.4%

September 2023: -13.2%

August 2023: -20.1%

July 2023: -20.2%

June 2023: -15.5%

May 2023: -14.7%

April 2023: -9.8%

March 2023: -8.3%

February 2023: -15.6%

January 2023: -25%

December 2022: -20.6%

November 2022: -14.6%

October 2022: -5.6%

September 2022: 3.1%

August 2022: 11.4%

July 2022: 7%

June 2022: 9%

May 2022: 12.4%

April 2022: 6.4%

March 2022: 7.7%

February 2022: 9.5%

January 2022: 17.6%

December 2021: 18.4%

November 2021: 24.2%

October 2021: 17.9%

September 2021: 12.3%

August 2021: 2.7%

July 2021: 12.7%

June 2021: 15.9%

May 2021: 8.8%

April 2021: 6%

March 2021: 12.1%

February 2021: 4.2%

January 2021: 12.8%

December 2020: 6.8%

November 2020: -4.9%

October 2020: -3.1%

September 2020: 5.9%

August 2020: 7.7%

July 2020: 6%

June 2020: 16.1% (Revised to 13.9%)

May 2020: -4.6%

April 2020: 9.7%

March 2020: 17.6%

February 2020: 3% (Revised to 3.1%)

January 2020: - 3.3%

December 2019: 2.4%

November 2019: - 5.9%

October 2019: - 12.3%

September 2019: -8.1%

August 2019: - 8.9%

July 2019: -11.2%

June 2019: -17.3%

May 2019: -15.9%

April 2019: -10%

March 2019: -11.7%

February 2019: 4.9%

January 2019: -10.1%

December 2018: -8.5%

November 2018: -2.6%

October 2018: 8.3%

September 2018: 8.3%

August 2018: 5%

July 2018: 11.8% (Corrected)

June 2018: 1.1%

May 2018: 15.5%

April 2018: 11.8%

March 2018: -2.7%

February 2018: -5.9%

January 2018: 13%

December 2017: 3.1%

November 2017: 9.1%

October 2017: 20.9%

September 2017: -1.1%

August 2017: 16.7%

July 2017: 8.5%

June 2017: 8.2%

May 2017: -1.2%

Apr 2017: -0.7%

Mar 2017: 16.5%

Feb 2017: 21.1%

NikkoAM-STC Asia Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/25/24	phillip	NikkoAM-STC Asia Reit	0.766	0.82	Accumulate