Singapore Stock Exchange - Equity Investments

Saturday, February 10, 2018

World bank says bitcoin is a scam!

https://finance.yahoo.com/news/cryptocurrencies-apos-ponzi-schemes-apos-000400404.html

Mathematicians, Economists, Central bank, World bank, etc have been saying bitcoin is a bit scam but the millennials still invest in bitcoin.

https://sg-stock.blogspot.sg/2018/02/mathematicians-say-that-bitcoin-is-scam.html

When the bitcoin implodes, the millennials cannot blame somebody except themselves for investing in crypto.

China mid-course anti-missile test was successful.

https://www.reuters.com/article/us-china-defence/china-says-carries-out-another-anti-missile-test-idUSKBN1FQ08X

USA aegis system failed but China mid-course anti-missile test was successful.

https://sg-stock.blogspot.sg/2018/02/usa-aegis-missile-defence-system-failed.html

Mid-course interception is difficult because the incoming missile has not re-entered the atmosphere from outer space yet.

Congrats to China for the successful test!

Baltic dry index - 1125

Today, Friday, February 09 2018, the Baltic Dry Index climbed by 19 points, reaching 1125 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 stocks: Sembcorp Marine, Cosco & Pan Ocean

US rig count - 975

HOUSTON (AP) - The number of rigs exploring for oil and natural gas in the U.S. increased by 29 this week to 975.

That exceeds the 741 rigs that were active this time a year ago.

Houston oilfield services company Baker Hughes reported Friday that 791 rigs drilled for oil this week and 184 for gas.

Among major oil- and gas-producing states, Texas increased by 14 rigs, North Dakota and Wyoming each gained four, Louisiana and New Mexico each increased by three and Kansas and Oklahoma each gained one.

Colorado decreased by one.

Alaska, Arkansas, California, Ohio, Pennsylvania, Utah and West Virginia were unchanged.

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.

=====================
Related stocks: Keppel Corp, Sembcorp Marine & Cosco

Friday, February 9, 2018

The USA has abandoned the Syrian Kurds.

https://www.reuters.com/article/us-mideast-crisis-syria-turkey-usa/u-s-to-end-weapons-support-for-syrian-kurdish-ypg-turkey-says-idUSKBN1FG08W

We've stated before that the USA would betray the Syrian Kurds. The Syrian Kurds will perish if they still continue to harbour any false hope.

http://sg-stock.blogspot.sg/2017/12/the-kurds-are-living-in-land-of.html

Syrian Kurds, please wake up and face the reality. The USA will only think of its own political interest and will betray the Syrian Kurds anytime.

Olam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/16	UOB Kay Hian	Olam	1.695	2.3	Buy
01/12/16	DBS Vickers	Olam	1.7	2.01	Hold
01/12/16	Lim & Tan	Olam	1.7	0	Hold
01/12/16	OCBC	Olam	1.7	1.86	Hold
03/01/16	DBS Vickers	Olam	1.595	1.58	Hold	DCF & PER10.3x
04/11/16	Lim & Tan	Olam	1.655	0	Hold
04/11/16	OCBC	Olam	1.655	1.67	Hold
06/10/16	Lim & Tan	Olam	1.89	0	Hold
11/16/16	DBS Vickers	Olam	2.03	1.94	Hold	DCF & PER10.3x
03/01/17	DBS Vickers	Olam	2.05	2.12	Hold	DCF & PER16.4x
05/16/17	DBS Vickers	Olam	1.99	2.15	Hold	DCF & PER16.3x

OKP - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/15/17	DBS Vickers	OKP	0.395	0.45	Not Rated	PER11x FY17
06/28/17	Amfrasers	OKP	0.445	0.52	Buy	PER11x FY17
07/17/17	Amfrasers	OKP	0.395	0.39	Hold

Stock calls for 9 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/09/18	Kim Eng	DBS	26.71	29.66	Hold
02/09/18	UOB Kay Hian	DBS	26.71	30.4	Buy	GGM, PB1.62x FY18
02/09/18	CIMB	DBS	26.71	29	Add	GGM, PB1.5x FY18, PER11.6x FY19
02/09/18	Lim & Tan	First Sponsor	1.41	0	Buy
02/09/18	UOB Kay Hian	Memtech	1.29	1.43	Buy	PER11.6x FY18
02/09/18	DMG & Partners	Moya Asia	0.091	0.17	Buy	DCF
02/09/18	DMG & Partners	Neo Group	0.67	0.67	Neutral
02/09/18	CIMB	Perennial Reit	0.835	1.12	Add
02/09/18	Kim Eng	SIA	10.86	10.95	Hold	PB0.93x FY18
02/09/18	OCBC	Singtel	3.4	4.15	Buy
02/09/18	UOB Kay Hian	Singtel	3.4	4.4	Buy	DCF
02/09/18	CIMB	Singtel	3.4	4	Add

Here we go again! The USA government has to shut down again.

https://sg.news.yahoo.com/happens-u-government-shutdown-054756485--business.html

When a government has no money to pay its government employees, do you still think the USA can repay its national debt of more than USD$20T?

New crypto will cannibalize old crypto.

https://finance.yahoo.com/news/bitcoin-cash-leads-crypto-gainers-192707030.html

Bitcoin cash is cannibalizing bitcoin now.

We stated this before based on common economic principle.

https://sg-stock.blogspot.sg/2017/12/bitcoin-will-have-another-fork-after.html

Stock markets are falling like crazy because of rising treasury yield - Part 2

Dow Jones fell more than 1,000 points again for the 2nd time within 4 days. It fell more than 1,000 points after 10-year bond yield first reached 2.84% on 2 Feb. 10-year bond yield is at 2.85% now and the Dow Jones falls more than 1,000 points again.

High bond yields are detrimental to the stock markets but will cause USD to appreciate as the risk-free rate affects other interest rates.

https://sg-stock.blogspot.sg/2018/02/stock-markets-are-falling-like-crazy.html

USD has been appreciating because of higher bond yields which will cause other interest rates to increase.

The USA had increased its national debt by about USD$10T in the past decade (2008) and higher interest rates would increase its interest repayment burden. This is the primary reason for the stock market fall. The stock market will see more volatilities from now because FED has to increase interest rates gradually.

Midas assets are frozen in China.

https://www.theedgesingapore.com/midas-ceo-says-shares-and-money-china-subsidiaries-and-associates-frozen-courts?utm_source=Singapore+Market+Report&utm_campaign=4cce0ed852-EMAIL_CAMPAIGN_2018_02_08&utm_medium=email&utm_term=0_46b7beec93-4cce0ed852-90900869

Things are not looking good for Midas as its assets are frozen in China.

Midas is definitely not innocent and this is something that investors have to bear for investing in mid-size China firms. Many China listed companies got into troubles already insofar.

Thursday, February 8, 2018

Something happened to CNY today!

Look at the long green bar which is circled in red. Downward trajectory means CNY appreciation and upward trajectory means CNY depreciation.

The long green bar appears because China revives QDLP outbound investment scheme. This QDLP scheme means foreign fund managers can raise money from China and invest overseas and there'll be an outflow of CNY. Thus, CNY depreciates today due to an impending increase in CNY supply in the international market.

https://www.reuters.com/article/us-china-economy-outbound-investment/china-revives-qdlp-outbound-investment-scheme-in-boost-for-foreign-funds-sources-idUSKBN1FS0DV

Wow! Our Singapore Post got robbed!

https://sg.news.yahoo.com/male-suspect-sought-robbery-singpost-branch-potong-pasir-091438514.html

This is definitely the first such robbery in SG. Who would expect our Singpost to be robbed?

OCBC bank - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/16	CIMB	OCBC	8.64	10.88	Add
01/08/16	DIR	OCBC	8.37	11.7	Buy
01/14/16	Macquarie	OCBC	8.24	0	Neutral
01/18/16	Deutsche	OCBC	7.95	10	Buy	GGM, PB1.2x
01/18/16	DMG & Partners	OCBC	7.95	10.7	Buy	GGM, PB1.25x FY16
01/18/16	Goldman Sachs	OCBC	7.95	9.1	Neutral
01/28/16	JP Morgan	OCBC	7.62	9	Overweight
01/28/16	UOB Kay Hian	OCBC	7.62	11.25	Buy
01/29/16	Credit Suisse	OCBC	7.63	9.9	Neutral
01/29/16	HSBC	OCBC	7.63	10.2	Buy
02/04/16	UOB Kay Hian	OCBC	7.49	9.8	Buy	GGM, PB1.21x
02/11/16	UBS	OCBC	756	9	Buy	PER9x FY16
02/17/16	Bloomberg	OCBC	7.77	9.67	Buy	Consenus target
02/17/16	Lim & Tan	OCBC	7.77	0	Buy
02/18/16	Amfrasers	OCBC	7.78	8.41	Buy
02/18/16	CIMB	OCBC	7.78	10.01	Add	GGM, PB1.16x CY16
02/18/16	Credit Suisse	OCBC	7.78	9.9	Neutral
02/18/16	DBS Vickers	OCBC	7.78	9.4	Buy	GGM, PB1x FY16
02/18/16	DIR	OCBC	7.78	9.8	Buy	Warranted Equity Valuation Method
02/18/16	Kim Eng	OCBC	7.78	7.2	Sell	PB0.84x FY16
02/18/16	UOB Kay Hian	OCBC	7.78	9.98	Buy	GGM, PB1.19x
02/19/16	phillip	OCBC	7.92	7.85	Neutral	PB0.95x FY16
02/26/16	Credit Suisse	OCBC	7.84	9	Neutral
03/03/16	CIMB	OCBC	8.31	10.01	Add
03/04/16	JP Morgan	OCBC	8.6	7.7	Neutral
03/07/16	DMG & Partners	OCBC	8.79	9.6	Buy
03/24/16	DIR	OCBC	9.15	11	Buy
03/24/16	Kim Eng	OCBC	9.15	7.2	Sell
03/24/16	UOB Kay Hian	OCBC	9.15	9.98	Buy	GGM, PB1.19x FY16
04/07/16	DBS Vickers	OCBC	8.72	9.4	Buy
04/07/16	UBS	OCBC	8.72	10	Buy
04/07/16	UOB Kay Hian	OCBC	8.72	10.68	Buy	GGM, PB1.26x
04/08/16	Amfrasers	OCBC	8.81	8.41	Hold
04/08/16	CIMB	OCBC	8.81	10.01	Add	PB1.16x CY16
04/08/16	DIR	OCBC	8.81	11	Buy	Warranted Equity Valuation Method
04/08/16	DMG & Partners	OCBC	8.81	9.6	Buy	GGM
04/08/16	Kim Eng	OCBC	8.81	7.2	Sell	PB0.8x FY16
04/08/16	Macquarie	OCBC	8.81	9.5	Outperform
04/11/16	phillip	OCBC	8.78	7.85	Neutral	PB
04/26/16	HSBC	OCBC	9.28	10.2	Hold	GGM, PB1.2x FY16, PER11x FY16
04/29/16	Bloomberg	OCBC	8.9	9.33	Hold
05/03/16	Amfrasers	OCBC	8.77	8.41	Hold
05/03/16	DBS Vickers	OCBC	8.77	9.4	Hold
05/03/16	Deutsche	OCBC	8.77	9.5	Hold
05/03/16	DMG & Partners	OCBC	8.77	9.5	Neutral	GGM, PB1.1x
05/03/16	Jefferies	OCBC	8.77	8	Hold
05/03/16	Kim Eng	OCBC	8.77	7.2	Sell	PB0.8x FY16
05/03/16	phillip	OCBC	8.77	8.07	Neutral	PB0.95x FY16
05/03/16	UOB Kay Hian	OCBC	8.77	10.98	Buy	GGM, PB1.27x
05/04/16	CIMB	OCBC	8.6	8.8	Hold	GGM, PB1.02x CY16
05/04/16	Macquarie	OCBC	8.6	9.5	Outperform
05/06/16	Credit Suisse	OCBC	8.44	9	Neutral
05/10/16	DIR	OCBC	8.43	10.7	Buy	Warranted Equity Valuation Method
05/19/16	Goldman Sachs	OCBC	8.45	8.7	Neutral
05/19/16	UOB Kay Hian	OCBC	8.45	10.86	Buy	GGM, PB1.26x
06/09/16	DIR	OCBC	8.84	10.7	Buy
06/14/16	Deutsche	OCBC	8.46	9.5	Hold
06/30/16	Goldman Sachs	OCBC	8.49	9.2	Neutral
06/30/16	Kim Eng	OCBC	8.49	7.2	Sell
07/11/16	DBS Vickers	OCBC	8.74	9.4	Hold
07/11/16	DMG & Partners	OCBC	8.74	8.68	Neutral	GGM, PB0.98x FY16, PER10.3x FY16
07/19/16	DIR	OCBC	9	10.7	Buy
07/27/16	UOB Kay Hian	OCBC	8.84	10.86	Buy	GGM, PB1.26x FY16
07/28/16	Lim & Tan	OCBC	8.85	0	Hold
07/29/16	CIMB	OCBC	8.8	8.11	Reduce	GGM
07/29/16	Credit Suisse	OCBC	8.8	9	Neutral
07/29/16	DBS Vickers	OCBC	8.8	8.4	Hold
07/29/16	DIR	OCBC	8.8	11.3	Buy	Warranted Equity Valuation Method
07/29/16	Goldman Sachs	OCBC	8.8	9	Neutral
07/29/16	Kim Eng	OCBC	8.8	7.49	Sell	PB0.8x FY17
07/29/16	Lim & Tan	OCBC	8.8	0	Hold
07/29/16	Macquarie	OCBC	8.8	9.5	Outperform
07/29/16	UOB Kay Hian	OCBC	8.8	10.48	Buy	GGM, PB1.26x
08/01/16	phillip	OCBC	8.6	8.14	Neutral	PB0.95x FY16
08/12/16	Credit Suisse	OCBC	8.46	9	Neutral
08/12/16	Deutsche	OCBC	8.46	9	Hold
08/18/16	Kim Eng	OCBC	8.44	7.49	Sell
08/30/16	UOB Kay Hian	OCBC	8.58	10.3	Buy	GGM, PB1.21x
09/09/16	Credit Suisse	OCBC	8.87	8.8	Neutral
09/28/16	DIR	OCBC	8.59	11.3	Buy
10/03/16	Kim Eng	OCBC	8.65	7.49	Sell
10/05/16	DMG & Partners	OCBC	8.66	8.68	Neutral
10/11/16	UOB Kay Hian	OCBC	8.69	10.3	Buy
10/12/16	Goldman Sachs	OCBC	8.66	9	Neutral
10/17/16	DBS Vickers	OCBC	8.41	8.4	Hold
10/17/16	DIR	OCBC	8.41	11.3	Buy
10/19/16	CIMB	OCBC	8.49	8.11	Reduce
10/27/16	Lim & Tan	OCBC	8.53	0	Hold
10/28/16	CIMB	OCBC	8.58	8.18	Reduce	GGM, PB0.91x CY17
10/28/16	DBS Vickers	OCBC	8.58	8.6	Hold	GGM, PB0.9x FY17
10/28/16	DIR	OCBC	8.58	11	Buy	PB1.27x
10/28/16	DMG & Partners	OCBC	8.58	8.81	Neutral
10/28/16	Kim Eng	OCBC	8.58	7.4	Sell	PB0.8x FY17
10/28/16	phillip	OCBC	8.58	8.25	Neutral	PB0.95x FY16
10/28/16	UOB Kay Hian	OCBC	8.58	10.45	Buy	GGM, PB1.17x
11/07/16	Credit Suisse	OCBC	8.43	8.8	Neutral
11/14/16	UOB Kay Hian	OCBC	8.58	10.45	Buy	GGM, PB1.17x F717
11/25/16	Credit Suisse	OCBC	8.78	10.15	Outperform
11/28/16	DIR	OCBC	8.89	11	Buy
12/05/16	Kim Eng	OCBC	9.15	7.4	Sell	PB0.8x FY17
12/06/16	CIMB	OCBC	9.2	8.18	Reduce	GGM, PB0.91x CY17
12/07/16	DBS Vickers	OCBC	9.27	10.3	Buy	GGM, PB1.1x FY17
12/07/16	Deutsche	OCBC	9.27	9	Hold
01/03/17	DMG & Partners	OCBC	8.92	8.81	Neutral
01/03/17	UOB Kay Hian	OCBC	8.92	10.45	Buy
01/04/17	Kim Eng	OCBC	8.98	7.4	Sell
01/06/17	UOB Kay Hian	OCBC	9.18	10.65	Buy	GGM, PB1.2x FY17
01/11/17	DIR	OCBC	9.35	11	Buy
02/02/17	Lim & Tan	OCBC	9.48	0	Hold
02/03/17	CIMB	OCBC	9.45	8.18	Reduce
02/06/17	Macquarie	OCBC	9.42	10	Outperform
02/08/17	UOB Kay Hian	OCBC	9.66	10.65	Buy
02/14/17	Lim & Tan	OCBC	9.75	0	Take profit/Sell	Buy @ $8.49
02/15/17	CIMB	OCBC	9.43	8.83	Reduce	GGM, PB0.98x CY17
02/15/17	Credit Suisse	OCBC	9.43	10.5	Outperform
02/15/17	DBS Vickers	OCBC	9.43	10.3	Hold	GGM, PB1.1x FY17
02/15/17	DIR	OCBC	9.43	11	Buy	GGM, PB1.23x
02/15/17	DMG & Partners	OCBC	9.43	8.9	Neutral	GGM, PB1x FY17
02/15/17	Kim Eng	OCBC	9.43	8.05	Sell	PB0.9x FY17
02/15/17	UOB Kay Hian	OCBC	9.43	10.75	Buy	GGM, PB1.19x FY17
02/16/17	phillip	OCBC	9.45	8.48	Reduce	PB0.95x FY17
03/02/17	UOB Kay Hian	OCBC	9.53	10.75	Buy	GGM, PB1.19x FY17
03/03/17	CIMB	OCBC	9.51	8.83	Reduce
03/03/17	Jefferies	OCBC	9.51	8	Underperform
03/06/17	Macquarie	OCBC	9.49	10	Outperform
03/21/17	DMG & Partners	OCBC	9.63	8.9	Neutral	GGM, PB1x FY17
03/21/17	Kim Eng	OCBC	9.63	8.05	Sell
04/03/17	Kim Eng	OCBC	9.72	8.05	Sell
04/12/17	UOB Kay Hian	OCBC	9.59	10.75	Buy	GGM, PB1.19x FY17
04/18/17	DIR	OCBC	9.59	11	Buy
04/25/17	CIMB	OCBC	9.64	8.83	Reduce
04/25/17	Sanford C Bernstein	OCBC	9.64	10.95	Outperform
05/09/17	DMG & Partners	OCBC	10.3	8.9	Neutral
05/09/17	Lim & Tan	OCBC	10.3	0	Hold
05/11/17	CIMB	OCBC	10.46	9.94	Hold	GGM, PB1.1x CY17
05/11/17	Credit Suisse	OCBC	10.46	11.1	Outperform
05/11/17	DBS Vickers	OCBC	10.46	10.3	Hold	GGM, PB1.1x FY17
05/11/17	DIR	OCBC	10.46	11	Hold	GGM, PB1.22x FY17
05/11/17	DMG & Partners	OCBC	10.46	10.22	Neutral
05/11/17	Kim Eng	OCBC	10.46	9.85	Hold	PB1.1x FY17
05/11/17	Macquarie	OCBC	10.46	10	Outperform	PB1.19x
05/11/17	phillip	OCBC	10.46	8.48	Reduce	PB0.95x FY17
05/11/17	UOB Kay Hian	OCBC	10.46	11.7	Buy	GGM, PB1.3x FY17
05/23/17	Jefferies	OCBC	10.3	10.5	Hold
06/08/17	UOB Kay Hian	OCBC	10.58	11.7	Buy
06/14/17	Kim Eng	OCBC	10.74	9.85	Hold	PB1.1x FY18
06/28/17	DMG & Partners	OCBC	10.73	10.15	Neutral
06/28/17	UOB Kay Hian	OCBC	10.73	11.7	Buy	GGM, PB1.3x FY17
07/03/17	Kim Eng	OCBC	10.79	9.85	Hold
07/04/17	UOB Kay Hian	OCBC	10.72	13	Buy	GGM, PB1.36x FY18
07/12/17	Credit Suisse	OCBC	10.79	10.9	Neutral
07/27/17	Lim & Tan	OCBC	11.25	0	Hold
07/28/17	Macquarie	OCBC	11.49	10.4	Neutral	GGM, PB1.27x FY18
07/28/17	phillip	OCBC	11.49	10.81	Neutral	GGM, PB1.2x
07/28/17	DIR	OCBC	11.49	11.5	Hold	GGM, PB1.24x
07/28/17	UOB Kay Hian	OCBC	11.49	13.38	Buy	GGM, PB1.39x FY18
07/28/17	DMG & Partners	OCBC	11.49	10.96	Neutral	GGM, PB1.16x FY17
07/28/17	CIMB	OCBC	11.49	11.98	Hold	GGM, PB1.3x CY17
07/28/17	DBS Vickers	OCBC	11.49	12.8	Buy	GGM, PB1.3x FY18
08/07/17	UOB Kay Hian	OCBC	11.21	13.38	Buy
08/18/17	Macquarie	OCBC	11.14	10.4	Neutral
08/22/17	Kim Eng	OCBC	11.02	11.05	Hold	GGM, PB1.1x FY18
08/23/17	Macquarie	OCBC	11.07	12.2	Outperform
08/23/17	DBS Vickers	OCBC	11.07	12.8	Buy
08/23/17	Deutsche	OCBC	11.07	11.5	Hold
09/12/17	DMG & Partners	OCBC	10.92	10.96	Neutral	PB1.1x FY18
09/18/17	phillip	OCBC	10.95	10.81	Neutral
09/18/17	Kim Eng	OCBC	10.95	11.05	Hold
09/20/17	DBS Vickers	OCBC	11	12.8	Buy	GGM, PB1.3x FY18
09/20/17	Credit Suisse	OCBC	11	10.9	Neutral
09/20/17	Macquarie	OCBC	11	12.2	Outperform
10/06/17	UOB Kay Hian	OCBC	11.25	13.38	Buy	GGM, PB1.39x FY18
10/09/17	DIR	OCBC	11.37	11.5	Hold
10/09/17	DBS Vickers	OCBC	11.37	12.8	Buy	GGM, PB1.3x FY18
10/09/17	Credit Suisse	OCBC	11.37	11.6	Neutral
10/20/17	phillip	OCBC	11.44	11.95	Accumulate
10/23/17	Macquarie	OCBC	11.49	12.2	Outperform
10/25/17	DBS Vickers	OCBC	11.46	12.8	Buy
10/27/17	UOB Kay Hian	OCBC	11.57	13.56	Buy	GGM, PB1.44x FY18
10/27/17	phillip	OCBC	11.57	13.48	Buy	GGM, PB1.44x FY18
10/27/17	CIMB	OCBC	11.57	12.6	Add	GGM, PB1.29x FY18
10/27/17	DBS Vickers	OCBC	11.57	13.5	Buy	GGM, PB1.3x Fy18
10/27/17	Lim & Tan	OCBC	11.57	0	Buy
10/27/17	Credit Suisse	OCBC	11.57	11.7	Neutral
11/01/17	UOB Kay Hian	OCBC	11.9	13.56	Buy	GGM, PB1.44x FY18
11/01/17	Deutsche	OCBC	11.9	12.3	Hold
11/20/17	Credit Suisse	OCBC	11.65	12.6	Neutral
11/20/17	CIMB	OCBC	11.65	12.6	Add
11/23/17	DBS Vickers	OCBC	12.01	13.5	Buy	GGM, PB1.3x FY18
12/01/17	UOB Kay Hian	OCBC	12.45	13.56	Buy	GGM, PB1.44x FY18
12/08/17	phillip	OCBC	12.12	13.48	Buy
12/20/17	CIMB	OCBC	12.25	12.6	Add
01/02/18	UOB Kay Hian	OCBC	12.39	13.56	Buy	GGM, PB1.44x FY18
01/05/18	DBS Vickers	OCBC	12.95	14	Buy	GGM, PB1.4x FY18
01/05/18	UOB Kay Hian	OCBC	12.95	14.88	Buy	GGM, PB1.58x FY18
01/09/18	Deutsche	OCBC	12.99	13.6	Hold
01/10/18	phillip	OCBC	12.91	13.48	Buy
02/05/18	Macquarie	OCBC	12.81	14	Outperform

Noble - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/16	DBS Vickers	Noble	0.395	0.42	Hold	PB1x
01/07/16	Credit Suisse	Noble	0.38	0.4	Neutral
01/07/16	OCBC	Noble	0.38	0.44	Hold
01/07/16	UOB Kay Hian	Noble	0.38	0.65	Hold
01/29/16	Religare	Noble	0.27	0.37	Buy
02/23/16	Lim & Tan	Noble	0.37	0	Neutral
02/25/16	Iceberg Research	Noble	0.34	0.1	Sell	Fraud alert
02/26/16	Credit Suisse	Noble	0.335	0.3	Neutral	PB0.4x
02/26/16	OCBC	Noble	0.335	0.39	Hold
02/29/16	DBS Vickers	Noble	0.355	0.32	Hold	PER5.3x & PB1x
03/01/16	Lim & Tan	Noble	0.345	0	Neutral
03/04/16	OCBC	Noble	0.38	0.39	Hold
04/08/16	Credit Suisse	Noble	0.415	0.3	Neutral
05/13/16	DBS Vickers	Noble	0.36	0.32	Hold
05/13/16	OCBC	Noble	0.36	0.34	Hold	PER7.5x FY16, Buy @ $0.30 or lower
05/18/16	Lim & Tan	Noble	0.33	0	Neutral
06/06/16	Lim & Tan	Noble	0.26	0	Neutral
08/12/16	Credit Suisse	Noble	0.155	0.15	Neutral	Ex-Rights 1-for-1 at $0.11
08/12/16	Lim & Tan	Noble	0.155	0	Neutral
08/15/16	DBS Vickers	Noble	0.148	0.175	Hold	PER7.7x FY17 & PB1x
09/20/16	Lim & Tan	Noble	0.139	0	Avoid
10/10/16	DBS Vickers	Noble	0.192	0.19	Hold	PER7.7x FY17 & PB1x
11/11/16	Credit Suisse	Noble	0.205	0.21	Neutral
11/14/16	DBS Vickers	Noble	0.195	0.2	Hold	PER7.7x FY17 & PB1x
02/14/17	Credit Suisse	Noble	0.197	0.21	Neutral
02/28/17	DBS Vickers	Noble	0.23	0.23	Hold	PB1x
05/12/17	Credit Suisse	Noble	0.87	0.8	Neutral
05/12/17	DBS Vickers	Noble	0.87	0.94	Hold	Stock consol 10-into-1
05/12/17	Macquarie	Noble	0.87	0.7	Underperform	Cut from $1.40
08/03/17	Iceberg Research	Noble	0.395	0	Sell	Bankruptcy alert
08/17/17	Lim & Tan	Noble	0.435	0	Sell/Avoid	Bankruptcy alert
11/21/17	Lim & Tan	Noble	0.193	0	Avoid

Stock calls for 8 February 2018

Date	Analyst	Company	Last	Target	Call	Valuation
02/08/18	NRA	Addvalue	0.042	0.079	Not Rated
02/08/18	Macquarie	DBS	25.36	27.5	Outperform
02/08/18	Lim & Tan	DBS	25.36	0	Buy
02/08/18	DMG & Partners	DBS	25.36	25	Neutral	PB1.3x FY18
02/08/18	UOB Kay Hian	First Resources	1.84	1.95	Hold	PER16x FY18x, Buy @ $1.75
02/08/18	DBS Vickers	MM2 Asia	0.495	0.75	Buy
02/08/18	DMG & Partners	Singtel	3.44	4.1	Buy
02/08/18	DBS Vickers	Singtel	3.44	4.3	Buy
02/08/18	Lim & Tan	Singtel	3.44	0	Buy on weakness
02/08/18	Macquarie	UOB	26.4	27.5	Neutral
02/08/18	CIMB	Venture	22.29	29.13	Add

https://sg.finance.yahoo.com/news/china-bike-sharing-firm-no-1-bicycle-shutters-020150045--finance.html

Another casualty in China!

This is not surprising as we've been stating that bike sharing is a flawed business concept.

https://sg-stock.blogspot.sg/2017/11/chinese-bike-sharing-firm-has-gone.html

Wednesday, February 7, 2018

Netlink - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/20/17	DIR	Netlink	0.81	0.97	Buy	DCF
08/01/17	Deutsche	Netlink	0.815	0.95	Buy	DCF
08/29/17	DBS Vickers	Netlink	0.81	0.95	Buy	DCF
08/29/17	UOB Kay Hian	Netlink	0.81	0.93	Buy	DCF
09/25/17	UOB Kay Hian	Netlink	0.825	0.93	Buy
09/28/17	DIR	Netlink	0.825	0.97	Buy	DCF
11/10/17	DBS Vickers	Netlink	0.825	0.95	Buy	DCF
11/13/17	UOB Kay Hian	Netlink	0.825	0.93	Buy	DCF
01/12/18	UOB Kay Hian	Netlink	835	0.93	Buy
01/26/18	DBS Vickers	Netlink	0.83	0.95	Buy	DCF
02/07/18	UOB Kay Hian	Netlink	0.82	0.93	Buy	DCF
02/07/18	DBS Vickers	Netlink	0.82	0.97	Buy	DCF