First Resources - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/16	UOB Kay Hian	First Resources	1.92	2.4	Buy
01/12/16	CIMB	First Resources	1.81	2.38	Add
01/26/16	Deutsche	First Resources	1.74	2.85	Buy
02/03/16	DMG & Partners	First Resources	1.76	2.69	Buy
02/26/16	CIMB	First Resources	1.84	2.1	Add	PER13x FY17
02/26/16	DBS Vickers	First Resources	1.84	1.85	Hold
02/26/16	DMG & Partners	First Resources	1.84	2.35	Buy	PER19x FY16
02/26/16	Kim Eng	First Resources	1.84	2.08	Buy	PER17x FY16
02/26/16	UOB Kay Hian	First Resources	1.84	2	Buy	PER17x FY16
02/26/16	Credit Suisse	First Resources	1.84	2.1	Outperform	Up from $2
03/31/16	UOB Kay Hian	First Resources	2.08	2.65	Buy
04/01/16	CIMB	First Resources	2.02	2.1	Add
04/12/16	DBS Vickers	First Resources	2.03	1.85	Hold
04/21/16	Deutsche	First Resources	1.99	2.6	Buy
04/21/16	Kim Eng	First Resources	1.99	2.08	Hold	PER17x FY16
05/16/16	CIMB	First Resources	1.645	1.98	Add	PER13x FY17
05/16/16	Credit Suisse	First Resources	1.645	2.3	Outperform
05/16/16	DBS Vickers	First Resources	1.645	1.85	Hold
05/16/16	Deutsche	First Resources	1.645	2.25	Buy
05/16/16	DMG & Partners	First Resources	1.645	1.9	Buy
05/16/16	Kim Eng	First Resources	1.645	1.7	Hold	PER17x FY16
05/16/16	UOB Kay Hian	First Resources	1.645	2.2	Buy	PER17x FY17
06/01/16	CIMB	First Resources	1.615	1.98	Add
06/10/16	Deutsche	First Resources	1.745	2	Buy
06/17/16	Macquarie	First Resources	1.65	2.2	Outperform
06/24/16	UOB Kay Hian	First Resources	1.63	2.2	Buy	PER17x FY17
07/14/16	UOB Kay Hian	First Resources	1.555	2.2	Buy
07/27/16	Kim Eng	First Resources	1.56	1.71	Buy	PER17x FY16
07/28/16	UOB Kay Hian	First Resources	1.565	2	Buy	PER17x FY17
08/11/16	DBS Vickers	First Resources	1.625	1.82	Hold
08/11/16	Credit Suisse	First Resources	1.625	2.1	Outperform
08/15/16	CIMB	First Resources	1.63	1.98	Add	PER13x FY17
08/15/16	UOB Kay Hian	First Resources	1.63	2	Buy	PER17x FY17
08/16/16	CIMB	First Resources	1.705	1.95	Add	PER13x FY17
08/16/16	DBS Vickers	First Resources	1.705	1.8	Buy	DCF
08/16/16	Kim Eng	First Resources	1.705	1.8	Buy	PER17x FY17
09/15/16	UOB Kay Hian	First Resources	1.795	2	Buy	PER17x FY17
10/06/16	Kim Eng	First Resources	1.785	1.8	Buy
10/25/16	DBS Vickers	First Resources	1.77	1.9	Hold	DCF
10/27/16	UOB Kay Hian	First Resources	1.815	2	Buy	PER17x FY17
11/10/16	CIMB	First Resources	1.81	2.32	Add	PER13x FY18
11/10/16	DMG & Partners	First Resources	1.81	1.73	Neutral
11/10/16	UOB Kay Hian	First Resources	1.81	2	Buy	PER17x FY17
11/11/16	DBS Vickers	First Resources	1.85	1.9	Hold	DCF
11/11/16	Kim Eng	First Resources	1.85	1.97	Hold	PER17x FY17
12/06/16	CIMB	First Resources	1.96	2.32	Add	PER13x FY17
12/07/16	Deutsche	First Resources	1.95	2.2	Buy
12/08/16	UOB Kay Hian	First Resources	1.965	2	Buy
01/03/17	DMG & Partners	First Resources	1.9	1.8	Neutral
01/11/17	CIMB	First Resources	1.915	2.32	Add
01/11/17	DBS Vickers	First Resources	1.915	1.9	Hold
01/11/17	Kim Eng	First Resources	1.915	1.97	Hold
01/31/17	UOB Kay Hian	First Resources	1.955	1.98	Buy
02/01/17	Kim Eng	First Resources	1.93	1.97	Hold
02/03/17	UOB Kay Hian	First Resources	1.935	2.15	Buy	PER17x FY17
02/06/17	DMG & Partners	First Resources	1.965	2	Hold	PER19x FY17
02/13/17	DBS Vickers	First Resources	1.97	1.9	Hold
02/17/17	DBS Vickers	First Resources	1.96	2.19	Buy
02/28/17	CIMB	First Resources	1.87	2.32	Add	PER13x FY18
03/01/17	DBS Vickers	First Resources	1.885	2.15	Buy	DCF
03/01/17	Kim Eng	First Resources	1.885	1.97	Hold	PER17x FY17
03/01/17	UOB Kay Hian	First Resources	1.885	2.15	Buy	PER17x FY17
03/09/17	DMG & Partners	First Resources	1.94	1.9	Neutral
04/11/17	DMG & Partners	First Resources	1.915	1.8	Neutral
05/02/17	UOB Kay Hian	First Resources	1.875	2.15	Buy	PER17x FY17
05/12/17	CIMB	First Resources	1.96	2.32	Add	PER13x FY18
05/12/17	Kim Eng	First Resources	1.96	1.97	Hold	PER17x FY17
05/15/17	DMG & Partners	First Resources	1.955	2.05	Neutral	PER17x FY17
05/16/17	DBS Vickers	First Resources	2	2.15	Buy	DCF
06/29/17	UOB Kay Hian	First Resources	1.915	1.95	Hold
07/11/17	DBS Vickers	First Resources	1.89	2.15	Buy
07/20/17	UOB Kay Hian	First Resources	1.885	1.95	Hold	PER16x FY18, Buy @ $1.75
08/14/17	Kim Eng	First Resources	1.84	1.97	Hold	PER17x FY17
08/14/17	DMG & Partners	First Resources	1.84	2.05	Neutral	PER17x FY17
08/15/17	CIMB	First Resources	1.84	2.32	Add	PER13x FY18
08/15/17	DBS Vickers	First Resources	1.84	2.13	Buy	DCF
08/21/17	UOB Kay Hian	First Resources	1.8	1.95	Hold
08/28/17	DIR	First Resources	1.905	2.11	Outperform	PER13x FY17/18
09/11/17	Kim Eng	First Resources	1.88	1.97	Hold
09/13/17	DBS Vickers	First Resources	1.885	2.13	Buy
10/09/17	UOB Kay Hian	First Resources	1.925	1.95	Hold	PER16x FY18, Buy @ $1.75
10/11/17	Kim Eng	First Resources	1.93	2.04	Hold	PER17x FY17
10/11/17	CIMB	First Resources	1.93	2.32	Add
11/02/17	Credit Suisse	First Resources	1.98	2.3	Neutral	PER16x FY18
11/03/17	CIMB	First Resources	1.96	2.32	Add
11/13/17	Kim Eng	First Resources	1.94	2.04	Hold	PER17x FY17
11/13/17	DBS Vickers	First Resources	1.94	2.13	Buy
11/14/17	Kim Eng	First Resources	1.95	2.04	Hold	PER17x FY17
11/14/17	DMG & Partners	First Resources	1.95	2.13	Neutral	PER13x FY18
11/14/17	CIMB	First Resources	1.95	2.13	Add	PER13x FY19
11/15/17	DBS Vickers	First Resources	1.93	2.18	Buy	DCF, PER14.5x FY18
11/15/17	UOB Kay Hian	First Resources	1.93	1.95	Hold	PER16x FY18, Buy @ $1.75
11/15/17	Credit Suisse	First Resources	1.93	2.3	Neutral
12/04/17	CIMB	First Resources	1.88	2.13	Add
12/13/17	Kim Eng	First Resources	1.88	2.04	Hold
12/13/17	DMG & Partners	First Resources	1.88	2.03	Neutral	PER12x FY18

Stock calls for 21 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/21/17	Kim Eng	Hi-P	1.75	2.11	Buy	PB3.4x FY17, PER13.6x FY18, PEG0.7x

Seafood health alerts in Norway, Chile, Canada, UK, Belgium and China.

http://www.dailymail.co.uk/sciencetech/article-5198019/Plastic-mussels-Arctic-China-enters-human-food.html

Polluted seafood have been confirmed in Norway, China, Chile, Canada, UK & Belgium.  Microplastics are found in the seafood in these areas.

We reported about microplastics recently.

http://sg-stock.blogspot.sg/2017/12/health-alert-for-seafood-consumption.html

Keep your mobile phone away from your body!

https://sg.news.yahoo.com/keep-cell-phones-away-body-warns-california-department-043233520.html

A US health agency has issued a warning to the general public to keep any mobile phone away from a body.

We've just posted a recent warning from London and the USA is also issuing a similar warning now.

https://sg-stock.blogspot.sg/2017/12/mobile-phone-can-increase-risk-of-brain.html

Bitcoin will have another fork after Bitcoin Cash.

Quote:

Hong Kong-based digital currency exchange Bitfinex said a group of bitcoin miners would be "forking" from the main bitcoin to create a new version that trades faster and more easily. 

End Quote.

New forks and new cryptocurrencies will cannibalize themselves and cause the decimation of such pseudo monies.  The danger is lurking now!

Noble has managed to get another credit extension.

https://finance.yahoo.com/news/noble-group-gets-another-credit-extension-future-remains-011129417--finance.html

Noble has managed to kick the can further down the road but it will still have to face the day of reckoning next May.  Nonetheless, Noble has time on its side to restructure its debts now especially to iron out the debt for equity swap deal.

Hot news! USA military released UFO footages captured on F18 radar.

UFOs do exist in this world.

It's time we stop deluding ourselves and face the facts.

http://www.independent.co.uk/news/world/americas/ufo-video-us-navy-tracking-pilots-footage-unidentified-object-a8116356.html

First Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/20/16	CIMB	First Reit	1.195	1.33	Add	DDM
01/20/16	OCBC	First Reit	1.195	1.36	Hold
01/21/16	Amfrasers	First Reit	1.195	1.25	Buy	DDM
01/21/16	phillip	First Reit	1.195	1.38	Buy	DDM
03/17/16	phillip	First Reit	1.22	1.38	Buy	DDM
04/19/16	CIMB	First Reit	1.25	1.33	Add	DDM
04/19/16	OCBC	First Reit	1.25	1.36	Hold
04/19/16	phillip	First Reit	1.25	1.38	Accumulate	DDM
04/20/16	Amfrasers	First Reit	1.26	1.24	Hold	DDM
07/15/16	CIMB	First Reit	1.3	1.38	Add	DDM
07/15/16	Lim & Tan	First Reit	1.3	0	Hold
07/15/16	OCBC	First Reit	1.3	1.36	Hold
07/18/16	phillip	First Reit	1.315	1.32	Accumulate	DDM
10/14/16	phillip	First Reit	1.34	1.32	Accumulate
10/20/16	OCBC	First Reit	1.385	1.36	Hold
10/21/16	CIMB	First Reit	1.39	1.38	Hold	DDM
11/09/16	phillip	First Reit	1.32	1.32	Accumulate	DDM
01/19/17	CIMB	First Reit	1.305	1.26	Hold
01/19/17	OCBC	First Reit	1.305	1.32	Hold
01/19/17	phillip	First Reit	1.305	1.32	Accumulate	DDM
03/16/17	OCBC	First Reit	1.285	1.32	Hold
04/18/17	CIMB	First Reit	1.345	1.36	Hold	DDM
04/18/17	OCBC	First Reit	1.345	1.32	Hold	Buy @ $1.25 or lower
04/18/17	phillip	First Reit	1.345	1.32	Hold	DDM
05/25/17	OCBC	First Reit	1.31	1.32	Hold
07/18/17	OCBC	First Reit	1.335	1.32	Hold
07/18/17	Lim & Tan	First Reit	1.335	0	Hold
07/19/17	phillip	First Reit	1.34	1.32	Neutral	DDM, PB1.22x FY17
07/19/17	CIMB	First Reit	1.34	1.36	Hold	DDM
08/17/17	OCBC	First Reit	1.33	1.38	Hold
10/03/17	OCBC	First Reit	1.335	1.38	Hold
10/05/17	Amfrasers	First Reit	1.36	1.38	Not Rated	DCF
10/20/17	phillip	First Reit	1.37	1.32	Neutral	DDM
10/24/17	OCBC	First Reit	1.38	1.44	Buy
10/25/17	CIMB	First Reit	1.38	1.39	Hold	DDM
12/11/17	OCBC	First Reit	1.39	1.44	Buy

Far East Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/16	DBS Vickers	Far East Hospitality	0.635	0.63	Hold
02/24/16	OCBC	Far East Hospitality	0.63	0.64	Hold
02/25/16	CIMB	Far East Hospitality	0.635	0.61	Hold	DDM
02/25/16	DBS Vickers	Far East Hospitality	0.635	0.63	Hold
04/13/16	DBS Vickers	Far East Hospitality	0.65	0.63	Hold
04/28/16	CIMB	Far East Hospitality	0.67	0.65	Hold	DDM
04/28/16	OCBC	Far East Hospitality	0.67	0.63	Hold
06/14/16	CIMB	Far East Hospitality	0.605	0.65	Hold
08/01/16	CIMB	Far East Hospitality	0.64	0.65	Hold	DDM
08/01/16	DBS Vickers	Far East Hospitality	0.64	0.65	Hold
08/01/16	Lim & Tan	Far East Hospitality	0.64	0	Hold
08/01/16	OCBC	Far East Hospitality	0.64	0.64	Hold
08/01/16	Religare	Far East Hospitality	0.64	0.64	Hold	Cut from $0.69
10/14/16	OCBC	Far East Hospitality	0.6	0.64	Hold
10/18/16	DBS Vickers	Far East Hospitality	0.605	0.65	Hold	DCF
11/11/16	CIMB	Far East Hospitality	0.6	0.61	Hold	DDM
11/11/16	DBS Vickers	Far East Hospitality	0.6	0.62	Hold	DCF
11/11/16	OCBC	Far East Hospitality	0.6	0.62	Hold
01/09/17	DBS Vickers	Far East Hospitality	0.6	0.62	Hold	DCF
02/23/17	CIMB	Far East Hospitality	0.595	0.57	Hold	DDM
02/23/17	OCBC	Far East Hospitality	0.595	0.6	Hold
02/24/17	DBS Vickers	Far East Hospitality	0.6	0.63	Hold	DCF
05/15/17	DBS Vickers	Far East Hospitality	0.6	0.66	Buy	DCF
05/15/17	OCBC	Far East Hospitality	0.6	0.6	Hold
06/15/17	CIMB	Far East Hospitality	0.65	0.63	Hold	DDM
06/16/17	DBS Vickers	Far East Hospitality	0.65	0.66	Buy
08/04/17	OCBC	Far East Hospitality	0.67	0.6	Hold
08/07/17	OCBC	Far East Hospitality	0.67	0.66	Hold
08/07/17	CIMB	Far East Hospitality	0.67	0.66	Hold	DDM
08/08/17	DBS Vickers	Far East Hospitality	0.67	0.7	Buy	DCF
09/04/17	CIMB	Far East Hospitality	0.66	0.66	Hold
11/03/17	OCBC	Far East Hospitality	0.715	0.65	Hold
11/03/17	CIMB	Far East Hospitality	0.715	0.69	Hold	DDM
11/03/17	DBS Vickers	Far East Hospitality	0.715	0.76	Buy	DCF
12/14/17	CIMB	Far East Hospitality	0.71	0.69	Hold	DDM

Singapore stock calls for 20 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/20/17	CIMB	A-Reit	2.69	2.72	Hold
12/20/17	CIMB	AEM	3.21	4.55	Add
12/20/17	CIMB	CapitaCommercial	1.93	1.68	Hold
12/20/17	DBS Vickers	Capitaland	3.51	4.35	Buy
12/20/17	CIMB	Capitamall Trust	2.15	2.15	Hold
12/20/17	CIMB	DBS	24.71	25	Add
12/20/17	CIMB	Genting	1.34	1.45	Add
12/20/17	CIMB	Global Logistics	3.360	3.38	Hold
12/20/17	CIMB	Golden Agri	0.375	0.36	Reduce
12/20/17	CIMB	Hongkong Land	7.16	9.1	Add
12/20/17	CIMB	Keppel Corp	7.5	8.58	Add
12/20/17	CIMB	Memtech	1.09	1.33	Add
12/20/17	CIMB	MM2 Asia	0.52	0.76	Add
12/20/17	CIMB	OCBC	12.25	12.6	Add
12/20/17	CIMB	SATS	5.26	4.81	Hold
12/20/17	CIMB	Sembcorp Industries	3.02	3.87	Add
12/20/17	CIMB	Sembcorp Marine	1.93	2.49	Add
12/20/17	CIMB	SGX	7.43	8.21	Add
12/20/17	Kim Eng	SGX	7.43	8.3	Buy
12/20/17	CIMB	SIA	10.65	10.82	Hold
12/20/17	CIMB	Singtel	3.61	4.1	Add
12/20/17	CIMB	SPH	2.61	2.38	Reduce
12/20/17	CIMB	ST Engineering	3.17	3.85	Add
12/20/17	CIMB	Starhub	2.88	2.5	Hold
12/20/17	CIMB	Sunningdale	1.84	2.79	Add
12/20/17	CIMB	Thai Beverage	0.95	1	Hold	Sum of parts, PER22.6x CY18
12/20/17	CIMB	Venture	20.2	24.74	Add
12/20/17	CIMB	Wilmar	3.1	4.27	Add
12/20/17	CIMB	Yangzijiang	1.49	1.8	Add
12/20/17	CIMB	Yongnam	0.325	0.53	Add

MAS has issued warning about bitcoin and other cryptocurrencies.

https://finance.yahoo.com/news/singapore-central-bank-cautions-against-investments-cryptocurrencies-104803153.html

MAS does not recognize bitcoins or other cryptocurrencies as monies.  Therefore, MAS will not offer protections to cryptocurrency investors when this type of commodity collapses.

Denmark central bank has already warned that investors shouldn't complain to the central bank when they suffer heavy losses in cryptocurrency investments.

Furthermore, the different cryptocurrencies are cannibalizing themselves because investors won't buy all the cryptocurrencies as this will be akin to putting all the monies in a single nest (cryptocurrency) albeit with different crypto names.  The more forks and new cryptocurrencies appear, the faster this new market will collapse.

https://www.cnbc.com/2017/12/19/bitcoin-price-drops-as-coinbase-allows-bitcoin-cash-trading.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=104908225&yptr=yahoo

http://sg-stock.blogspot.sg/2017/08/death-knell-for-virtual-currency-is.html

F & N - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/04/16	DBS Vickers	F & N	1.96	2.2	Hold
05/11/16	DBS Vickers	F & N	1.935	2.2	Hold
08/08/16	DBS Vickers	F & N	2.11	2.3	Hold
08/22/16	phillip	F & N	2.13	1.93	Reduce	EV/Ebitda10x
11/09/16	DBS Vickers	F & N	2.13	2.36	Hold	Sum of parts
11/09/16	phillip	F & N	2.13	1.7	Reduce	EV/Ebitda11x FY17
12/09/16	DBS Vickers	F & N	2.11	2.36	Hold
12/09/16	DMG & Partners	F & N	2.11	2.43	Buy	RNAV (10% discount)
02/09/17	DBS Vickers	F & N	2.11	2.37	Hold	Sum of parts
02/10/17	phillip	F & N	2.12	1.8	Reduce	EV/Ebitda15x
03/24/17	DMG & Partners	F & N	2.22	2.76	Not Rated	Sum of parts
04/17/17	phillip	F & N	2.35	1.8	Reduce
05/09/17	DBS Vickers	F & N	2.4	2.37	Hold	Sum of parts
05/11/17	phillip	F & N	2.38	2.31	Neutral	Sum of parts
06/29/17	DBS Vickers	F & N	2.34	2.57	Hold	Sum of parts
08/10/17	DBS Vickers	F & N	2.44	2.57	Hold	Sum of parts, PER24.4x FY18
08/10/17	phillip	F & N	2.44	2.52	Neutral	Sum of parts
11/13/17	phillip	F & N	2.6	2.83	Accumulate	Sum of parts, PER27.1x FY18
12/04/17	phillip	F & N	2.58	2.83	Accumulate

Ezion - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/16	UOB Kay Hian	Ezion	0.565	1.01	Buy
01/12/16	DBS Vickers	Ezion	0.57	1	Buy	PB0.8x FY15
01/13/16	DMG & Partners	Ezion	0.565	1.4	Buy
01/15/16	UOB Kay Hian	Ezion	0.545	0.79	Buy
01/28/16	Amfrasers	Ezion	0.5	0.11	Sell
02/23/16	Lim & Tan	Ezion	0.52	0	Trading Sell
02/23/16	Nomura	Ezion	0.52	1.15	Buy
02/23/16	OCBC	Ezion	0.52	0.56	Hold	PB0.4x FY16
03/01/16	Lim & Tan	Ezion	0.5	0	Hold
03/01/16	OCBC	Ezion	0.5	0.56	Hold	P/NTA0.45x FY16
03/02/16	Amfrasers	Ezion	0.51	0.11	Sell	EV/Ebitda7x FY16
03/02/16	CIMB	Ezion	0.51	0.63	Add	PB0.55x FY16
03/02/16	DBS Vickers	Ezion	0.51	0.85	Buy	PB0.7x FY16
03/02/16	DIR	Ezion	0.51	0.5	Hold	Sum of parts
03/02/16	DMG & Partners	Ezion	0.51	1.06	Buy
03/02/16	Kim Eng	Ezion	0.51	0.8	Buy	GGM, PB0.7x FY16
03/02/16	Nomura	Ezion	0.51	1.08	Buy
03/02/16	UOB Kay Hian	Ezion	0.51	0.79	Buy	PB0.6x FY17
04/04/16	UOB Kay Hian	Ezion	0.56	0.75	Buy	PB0.6x
05/13/16	Amfrasers	Ezion	0.51	0.39	Sell	EV/Ebitda8x FY16
05/13/16	CIMB	Ezion	0.51	0.63	Add	PB0.55x
05/13/16	DBS Vickers	Ezion	0.51	0.85	Buy	PB0.7x FY16
05/13/16	DIR	Ezion	0.51	0.47	Hold	Sum of parts, Cut from $0.49
05/13/16	OCBC	Ezion	0.51	0.55	Hold	Buy @ $0.49 or lower
05/13/16	UOB Kay Hian	Ezion	0.51	0.6	Hold	PB0.6x FY17, Buy @ $0.48 or below
06/03/16	CIMB	Ezion	0.5	0.63	Add
06/06/16	Kim Eng	Ezion	0.54	0.72	Buy
06/22/16	OCBC	Ezion	0.53	0.55	Hold	PB0.45x
07/01/16	Lim & Tan	Ezion	0.52	0	Hold
07/01/16	UOB Kay Hian	Ezion	0.52	0.6	Hold
07/04/16	Amfrasers	Ezion	0.475	0.37	Sell	EV/Ebitda8x FY16, Ex-Rights 3 for 10 @ $0.29
07/04/16	CIMB	Ezion	0.475	0.53	Add	PB0.55x CY16, Ex-Rights 3 for 10 @ $0.29
07/04/16	DIR	Ezion	0.475	0.47	Hold	Sum of parts
07/04/16	OCBC	Ezion	0.475	0.5	Hold	PB0.4x, Ex-Rights target $0.42
07/04/16	UOB Kay Hian	Ezion	0.475	0.51	Hold	Buy @ $0.45, Ex-Rights 3 for 10 @ $0.29
07/08/16	DIR	Ezion	0.45	0.44	Hold	Sum of parts
08/11/16	Lim & Tan	Ezion	0.29	0	Reduce
08/12/16	Amfrasers	Ezion	0.29	0.26	Hold	EV/Ebitda8x FY16, PB0.3x FY16
08/12/16	CIMB	Ezion	0.29	0.32	Hold	PB0.3x FY16/17
08/12/16	DBS Vickers	Ezion	0.29	0.58	Buy	PB0.6x FY16
08/12/16	DIR	Ezion	0.29	0.33	Outperform	DCF
08/12/16	OCBC	Ezion	0.29	0.3	Hold	NTA0.35x, Ex-Rights 3 for 10 @ $0.29
08/12/16	UOB Kay Hian	Ezion	0.29	0.31	Hold	PB0.4x FY17, Buy @ $0.25
08/25/16	Kim Eng	Ezion	0.25	0.45	Buy	GGM, PB0.5x FY17
08/30/16	UOB Kay Hian	Ezion	0.24	0.23	Hold	PB0.3x FY17, Buy @ $0.20
09/06/16	Amfrasers	Ezion	0.25	0.2	Hold
09/15/16	OCBC	Ezion	0.275	0.3	Hold	PB0.35x
09/29/16	DBS Vickers	Ezion	0.275	0.58	Buy	PB0.6x FY16
09/30/16	CIMB	Ezion	0.285	0.32	Hold
09/30/16	UOB Kay Hian	Ezion	0.285	0.3	Hold
10/03/16	UOB Kay Hian	Ezion	0.275	0.23	Hold	PB0.3x FY17, Buy @ $0.20
10/11/16	OCBC	Ezion	0.37	0.35	Hold	PB0.4x
10/13/16	UOB Kay Hian	Ezion	0.345	0.3	Hold	PB0.4x FY17, Buy @ $0.27
10/14/16	DIR	Ezion	0.33	0.29	Underperform	Sum of parts
11/11/16	Amfrasers	Ezion	0.33	0.2	Sell	EV/Ebitda8x FY16, PB0.3x FY16
11/11/16	CIMB	Ezion	0.33	0.33	Hold	PB0.3x FY17
11/11/16	DIR	Ezion	0.33	0.29	Underperform	Sum of parts
11/11/16	Kim Eng	Ezion	0.33	0.42	Buy	GGM, PB0.5x FY17
11/11/16	OCBC	Ezion	0.33	0.35	Hold
11/21/16	phillip	Ezion	0.305	0.48	Buy	DCF
11/25/16	DBS Vickers	Ezion	0.33	0.56	Buy	PB0.6x FY16
12/02/16	UOB Kay Hian	Ezion	0.36	0.39	Hold
12/05/16	CIMB	Ezion	0.365	0.45	Add	PB0.5x FY17
12/13/16	Kim Eng	Ezion	0.405	0.42	Buy	GGM, PB0.5x FY17
12/15/16	DBS Vickers	Ezion	0.4	0.56	Buy	PB0.6x FY16
01/13/17	DBS Vickers	Ezion	0.415	0.56	Buy
01/13/17	OCBC	Ezion	0.415	0.54	Buy	PB0.55x
02/20/17	CIMB	Ezion	0.38	0.44	Add	PB0.45x FY17
02/20/17	Lim & Tan	Ezion	0.38	0	Reduce
02/20/17	OCBC	Ezion	0.38	0.54	Buy	PB0.55x FY17
02/20/17	UOB Kay Hian	Ezion	0.38	0.39	Hold
02/24/17	CIMB	Ezion	0.395	0.45	Add	PB0.5x FY17
02/24/17	DBS Vickers	Ezion	0.395	0.62	Buy	PB0.7x FY17
02/24/17	UOB Kay Hian	Ezion	0.395	0.45	Buy	PB0.65x FY17
02/27/17	phillip	Ezion	0.395	0.45	Accumulate	DCF
03/08/17	Lim & Tan	Ezion	0.37	0	Hold
03/17/17	CIMB	Ezion	0.35	0.45	Add	PB0.5x FY17
03/17/17	DIR	Ezion	0.35	0.31	Underperform	Sum of parts
04/10/17	DBS Vickers	Ezion	0.365	0.62	Buy
05/12/17	OCBC	Ezion	0.31	0.54	Buy
05/15/17	Amfrasers	Ezion	0.31	0.25	Sell	PB0.3x FY17
05/15/17	CIMB	Ezion	0.31	0.26	Reduce	PB0.3x FY17
05/15/17	DIR	Ezion	0.31	0.29	Underperform	Sum of parts
05/15/17	phillip	Ezion	0.31	0.4	Buy	DCF
05/15/17	UOB Kay Hian	Ezion	0.31	0.33	Hold	PB0.5x FY17, Buy @ $0.28
05/16/17	DBS Vickers	Ezion	0.295	0.62	Buy	PB0.7x FY17
05/23/17	OCBC	Ezion	0.295	0.32	Hold
06/14/17	UOB Kay Hian	Ezion	0.25	0.33	Hold
08/15/17	CIMB	Ezion	0.2	0.13	Reduce	PB0.15x
08/15/17	DBS Vickers	Ezion	0.2	0.13	Fully Valued	PB0.15x
08/16/17	phillip	Ezion	0.197	0	Suspended
11/10/17	DBS Vickers	Ezion	0.197	0.13	Fully Valued	PB0.15x FY17

Stock calls for 19 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/19/17	DMG & Partners	A-Reit	2.69	2.9	Buy
12/19/17	DMG & Partners	Cache Logistics	0.84	0.84	Neutral
12/19/17	DMG & Partners	Dairy Farm	7.94	9.53	Buy
12/19/17	DBS Vickers	Delfi	1.43	1.8	Buy	PER26x FY18/19
12/19/17	DMG & Partners	Food Empire	0.655	1	Buy
12/19/17	DMG & Partners	Frasers Centrepoint Trust	2.2	2.24	Neutral
12/19/17	DMG & Partners	Manulife US Reit	0.93	0.98	Buy
12/19/17	DMG & Partners	OUE Hospitality	0.835	0.88	Buy
12/19/17	DBS Vickers	Thai Beverage	0.97	1.07	Buy

The USA is trying to portray China as a devil but USA is the bigger demon in disguise.

https://sg.finance.yahoo.com/news/china-trying-influence-other-countries-002300442.html

When the USA wants to criticize another country, it has to look at itself first.

Let's look at the USA "Admirable" historical records.  We don't intend to list all the USA's historical records but we believe the following will be sufficient to prove our points.

http://sg-stock.blogspot.sg/2017/09/usa-is-trying-to-topple-venezuela.html

The USA tried to topple Venezuela. (What do we call this?)

The USA was behind Ukraine's coup. (What do we call this?)

http://sg-stock.blogspot.sg/2017/09/hot-news-usa-and-taiwan-are-in-cahoots.html

The USA tried to topple Cambodia. (What do we call this?)

The USA was behind Rowanda's genocide. (What do we call this?)

http://sg-stock.blogspot.sg/2016/07/chilcot-report-revealed-truth-about.html

The USA created false intelligence that Iraq possessed WMDs and invaded Iraq. (What do we call this?)

http://sg-stock.blogspot.sg/2017/04/wikileaks-revealed-sinister-usas-plan.html

The USA has this culture of framing others for its own political interest. (What do we call this?)

Who is the bigger badass? The USA of course!

If I have to choose between a devil and a demon, I will choose to stand with the lesser evil, China!

Mobile phone can increase the risk of brain cancer!

https://sg.news.yahoo.com/cancer-risk-may-increased-sleeping-next-head-060310642.html

Please try to keep your mobile phone away from your body and head as much as possible.  Many people like to keep mobile phones nearby and this is a bad habit because it will kill you slowly.

Radio frequency radiation can cause cell mutations and that's how cancer will develop in your body.

Be safe & stay healthy!

The UN is held hostage by the USA!

https://www.theguardian.com/world/2017/dec/18/us-outnumbered-14-to-1-as-it-vetoes-un-vote-on-status-of-jerusalem

The UN vote on Jerusalem status is held hostage by the USA.

The USA has incurred the wrath of the world and shamelessly condemned other UN members too.  The USA has planted this time bomb in the Middle East and there won't be peace in the Middle East anymore.  Jerusalem status is still uncertain at the moment and the USA has no right to move its embassy to Jerusalem because the true governing body has to grant the approval.  This unilateral move by the USA admits and accepts that Jerusalem belongs to Israel since Israel has given the approval for the move.  However, the UN doesn't recognize that Jerusalem belongs to Israel per se.