Ireit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	DBS Vickers	Ireit	0.73	0.75	Hold	DCF
05/24/17	DBS Vickers	Ireit	0.755	0.75	Hold	DCF

Stock calls for 8 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/08/18	NRA	Addvalue	0.041	0.052	Overweight	Mid-point of target $0.0485-$0.0552
06/08/18	CIMB	CDL Hospitality	1.66	1.92	Add
06/08/18	phillip	Comfortdelgro	2.46	2.69	Accumulate
06/08/18	OCBC	Comfortdelgro	2.46	2.5	Hold
06/08/18	CIMB	Far East Hospitality	0.66	0.79	Add
06/08/18	CIMB	Genting	1.25	1.4	Add

PAP makes my life full of hardship!

http://theindependent.sg/you-make-my-life-full-of-hardship-tampines-stallholder-begs-pap-for-mercy-as-conservancy-fees-climb/

This Singaporean is really courageous to voice it out by displaying the placards.

Is this the harbinger of something to come or just a one-off thing?

Look like PAP has lost touch with the people on the ground.  If PAP is still unwilling to come down from its high pedestal, the people will vote for a change just like the Malaysians did.

IPS Securex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/14/17	DMG & Partners	IPS Securex	0.155	0.34	Buy	DCF, PER13x FY18
09/11/17	DMG & Partners	IPS Securex	0.082	0.09	Neutral	DCF

Indofood Agri - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/17	DBS Vickers	Indofood Agri	0.545	0.58	Buy
02/13/17	DBS Vickers	Indofood Agri	0.54	0.58	Buy
03/02/17	DBS Vickers	Indofood Agri	0.52	0.56	Hold
05/03/17	DBS Vickers	Indofood Agri	0.49	0.56	Hold	DCF
07/11/17	DBS Vickers	Indofood Agri	0.475	0.56	Hold
07/31/17	DBS Vickers	Indofood Agri	0.495	0.49	Hold	DCF
08/28/17	DIR	Indofood Agri	0.46	0.4	Underperform	PER7.5x FY17/18
09/13/17	DBS Vickers	Indofood Agri	0.46	0.49	Hold
10/30/17	DBS Vickers	Indofood Agri	0.455	0.48	Hold	DCF
11/13/17	DBS Vickers	Indofood Agri	0.455	0.48	Hold
11/20/17	DIR	Indofood Agri	0.445	0.4	Underperform	PER7.5x FY17/18
01/15/18	DBS Vickers	Indofood Agri	0.405	0.48	Hold
03/02/18	DBS Vickers	Indofood Agri	0.34	0.36	Hold	DCF
04/13/18	DBS Vickers	Indofood Agri	0.325	0.36	Hold
05/02/18	DBS Vickers	Indofood Agri	0.32	0.36	Hold	DCF

Stock calls for 7 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/07/18	DBS Vickers	Comfortdelgro	2.47	2.12	Hold
06/07/18	DBS Vickers	Ezion	0.105	0.29	Buy
06/07/18	phillip	Golden Energy	0.375	0.48	Buy
06/07/18	OCBC	Hutchison Port	0.305	0.375	Buy
06/07/18	UOB Kay Hian	KSH	0.65	1.04	Buy	Sum of parts
06/07/18	Kim Eng	Sasseur	0.77	0.9	Buy

Pedestrians have to watch out while walking in the park nowadays!

http://www.asiaone.com/singapore/former-beauty-queen-hurt-e-scooter-accident

Another avoidable accident if pedestrian and e-scooter never cross path!

Luckily, there is no death this time but this will never end when the pedestrian, e-scooter and cyclist share the same path.

http://sg-stock.blogspot.com/2018/06/how-many-deaths-must-happen-before.html

Mahathir is trying to skin Singapore further!

https://www.theedgesingapore.com/mas-asks-securities-commission-malaysia-clarify-position-stock-market-trading-link?utm_source=Singapore+Market+Report&utm_campaign=2abab847c4-EMAIL_CAMPAIGN_2018_06_06_10_32&utm_medium=email&utm_term=0_46b7beec93-2abab847c4-90900869

We knew Mahathir would continue to skin SG alive.  We had stated this in our previous postings.  Just look at what he did after he became the PM.

He terminated the KL-SG HSR to stop SG from reaping the economic benefits.

He proposed building an island on the middle rocks as a maritime base to impose security concerns on SG.

He is trying to terminate the KL-SG stock exchange link now.

http://sg-stock.blogspot.com/2018/05/singapore-ministers-do-not-dare-to.html

http://sg-stock.blogspot.com/2018/06/mahathir-has-shown-his-true-colour.html

SGX is snubbed by another local IPO aspirant.

https://www.channelnewsasia.com/news/technology/myrepublic-garners-s-80-1m-in-fresh-funds-reveals-hk-ipo-plans-10386548

After losing Razor IPO to HK, SGX is losing another local IPO aspirant to HKEX.  This goes to show that SGX is no longer attractive to IPO aspirants because of its low liquidity which engenders a low valuation.

Sigh!

IHH Healthcare - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/17	CIMB	IHH Healthcare	1.96	2.35	Add	Ringgit $7.06 target price, Sum of parts
02/27/17	Kim Eng	IHH Healthcare	1.93	1.83	Hold	Ringgit $5.80 target price
03/09/17	DIR	IHH Healthcare	1.91	2.06	Hold	Sum of parts, Ringgit $6.47 target price
04/10/17	UOB Kay Hian	IHH Healthcare	1.89	1.85	Hold
05/22/17	DBS Vickers	IHH Healthcare	1.91	2.3	Buy	Sum of parts, Ringgit $7.15 target price
05/22/17	DMG & Partners	IHH Healthcare	1.91	2.35	Buy	DCF, Sum of parts, EV/Ebitda18x FY18
05/23/17	DIR	IHH Healthcare	1.92	2.12	Hold	Sum of parts, Ringgit $6.56
05/23/17	UOB Kay Hian	IHH Healthcare	1.92	1.8	Hold	Sum of parts, Buy @ $1.60
06/05/17	Kim Eng	IHH Healthcare	1.92	2	Hold	Sum of parts, Ringgit $6.17 target
06/06/17	CIMB	IHH Healthcare	1.915	2.21	Add	Ringgit $6.84 target
06/14/17	DBS Vickers	IHH Healthcare	1.94	2.31	Buy	Sum of parts, Ringgit $7.15 target
06/19/17	UOB Kay Hian	IHH Healthcare	1.945	1.8	Hold
07/05/17	Kim Eng	IHH Healthcare	1.88	1.98	Hold	Ringgit $6.15 target price
08/01/17	UOB Kay Hian	IHH Healthcare	1.88	1.8	Hold
08/24/17	UOB Kay Hian	IHH Healthcare	1.895	1.73	Hold	Sum of parts, Buy @ $1.50
08/24/17	CIMB	IHH Healthcare	1.895	2.22	Add	Ringgit $6.99 target price
08/24/17	DBS Vickers	IHH Healthcare	1.895	2.16	Buy	Ringgit $6.81 target
08/24/17	Kim Eng	IHH Healthcare	1.895	1.94	Hold	Ringgit $6.1 target price
08/25/17	DIR	IHH Healthcare	1.895	2.09	Hold	Ringgit $6.56 target
11/28/17	UOB Kay Hian	IHH Healthcare	1.83	1.71	Hold	Sum of parts, Buy @ $1.50
11/28/17	CIMB	IHH Healthcare	1.83	2.08	Add	Sum of parts, Ringgit $6.36 target
11/28/17	DBS Vickers	IHH Healthcare	1.83	2.23	Buy	Ringgit $6.81 target
11/28/17	Lim & Tan	IHH Healthcare	1.83	0	Hold	Expensive at PER50x FY18
11/28/17	Kim Eng	IHH Healthcare	1.83	2.05	Buy	Ringgit $6.3 target price
02/28/18	DMG & Partners	IHH Healthcare	2.05	2.36	Buy	DCF/SOP-based Ringgit $7 target price
03/20/18	DBS Vickers	IHH Healthcare	2.02	2.29	Buy	Sum of parts, Ringgit $6.81 target
03/23/18	MIDF	IHH Healthcare	2.01	2.32	Buy	Ringgit $6.91 target price
04/17/18	Kim Eng	IHH Healthcare	2.05	2.36	Buy	Sum of parts, Ringgit $7 target price
04/17/18	UOB Kay Hian	IHH Healthcare	2.05	2.31	Buy	Ringgit $6.86
04/26/18	DBS Vickers	IHH Healthcare	2.04	2.31	Buy	Rinngit $6.81 target
05/28/18	DMG & Partners	IHH Healthcare	2.08	2.36	Buy	DCF & Sum of parts & EV/Ebitda 18x FY19,  Ringgit $7 target price

Ifast Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/20/17	DBS Vickers	Ifast Corp	0.855	0.94	Hold	DDM
02/20/17	DMG & Partners	Ifast Corp	0.855	0.79	Neutral
02/22/17	phillip	Ifast Corp	0.845	0.78	Neutral	PER25x FY17
04/28/17	DMG & Partners	Ifast Corp	0.6	0.88	Buy	DCF
05/02/17	DBS Vickers	Ifast Corp	0.715	0.94	Buy	DDM
05/05/17	phillip	Ifast Corp	0.74	0.78	Accumulate
05/25/17	UOB Kay Hian	Ifast Corp	0.87	1.05	Buy
06/13/17	UOB Kay Hian	Ifast Corp	0.975	1.02	Hold	DCF, Buy @ $0.90
07/31/17	UOB Kay Hian	Ifast Corp	1.05	1.08	Hold	DCF, Buy @ $0.95
08/01/17	DMG & Partners	Ifast Corp	1.07	1.01	Neutral	DCF
08/01/17	DBS Vickers	Ifast Corp	1.07	1.26	Buy
08/02/17	phillip	Ifast Corp	1.055	1.11	Accumulate	PER34.3x FY17
10/30/17	DMG & Partners	Ifast Corp	0.94	1.01	Neutral	DCF
10/30/17	DBS Vickers	Ifast Corp	0.94	1.26	Buy	DDM
11/01/17	phillip	Ifast Corp	0.97	1.11	Accumulate	GGM
02/15/18	DBS Vickers	Ifast Corp	0.88	1.26	Buy	DDM
04/30/18	DBS Vickers	Ifast Corp	0.9	1.26	Buy	DDM

Hyflux - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/07/17	Credit Suisse	Hyflux	0.57	0.5	Neutral
05/08/17	Credit Suisse	Hyflux	0.56	0.58	Neutral

Stock calls for 6 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/06/18	DBS Vickers	APAC Realty	0.925	1.32	Buy
06/06/18	UOB Kay Hian	Capitaland	3.54	4.3	Buy
06/06/18	Deutsche	City Developments	11.48	16	Buy	RNAV (12% discount) & PB1.8x FY18
06/06/18	UOB Kay Hian	Singapore Medical	0.495	0.74	Buy
06/06/18	UOB Kay Hian	Sunpower	0.48	0.77	Buy	Sum of parts
06/06/18	Lim & Tan	Sunpower	0.48	0.95	Buy	Sum of parts
06/06/18	Amfrasers	Uni-Asia	1.41	2	Buy	Sum of parts, PB0.55x FY18, PER11x FY18
06/06/18	Kim Eng	Venture	21.63	28.83	Buy	PB3.4x
06/06/18	CIMB	Yangzijiang	1.02	1.27	Add	Sum of parts
06/06/18	OCBC	Yanlord	1.7	2.24	Buy	PER6x

Hutchison Port - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/17	OCBC	Hutchison Port	0.435	0.46	Buy	DDM
02/03/17	OCBC	Hutchison Port	0.425	0.46	Buy
02/13/17	OCBC	Hutchison Port	0.44	0.45	Hold	Buy @ $0.41 or below
02/14/17	DBS Vickers	Hutchison Port	0.415	0.42	Hold	DCF
04/25/17	OCBC	Hutchison Port	0.41	0.42	Hold
04/26/17	DBS Vickers	Hutchison Port	0.395	0.42	Hold	DCF
06/19/17	OCBC	Hutchison Port	0.445	0.42	Hold	Buy below $0.40
07/20/17	OCBC	Hutchison Port	0.48	0.42	Sell
07/21/17	DBS Vickers	Hutchison Port	0.445	0.42	Hold	DCF
10/31/17	OCBC	Hutchison Port	0.435	0.42	Hold
10/31/17	DBS Vickers	Hutchison Port	0.435	0.39	Hold	DCF
11/22/17	OCBC	Hutchison Port	0.42	0.42	Hold	Buy @ $0.39
02/06/18	OCBC	Hutchison Port	0.375	0.43	Buy
02/06/18	DBS Vickers	Hutchison Port	0.375	0.39	Hold	DCF, Buy @ $0.35
04/16/18	OCBC	Hutchison Port	0.33	0.43	Buy
04/16/18	DBS Vickers	Hutchison Port	0.33	0.38	Buy	DCF
06/01/18	OCBC	Hutchison Port	0.275	0.43	Buy
06/05/18	DBS Vickers	Hutchison Port	0.28	0.38	Buy

HRnet Group - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/20/17	Credit Suisse	HRnetGroup	0.855	1.1	Outperform	DCF, PER21.9x FY17
08/17/17	Credit Suisse	HRnetGroup	0.75	1.04	Outperform
11/02/17	DMG & Partners	HRnetGroup	0.865	1.14	Buy	DCF, PER16x FY18 Ex-Cash
01/03/18	DBS Vickers	HRnetGroup	0.79	0.96	Buy	DCF & PER15x FY18 (ex-cash)
01/09/18	DMG & Partners	HRnetGroup	0.82	1.14	Buy	DCF
02/15/18	DMG & Partners	HRnetGroup	0.81	1.14	Buy	DCF
02/27/18	Credit Suisse	HRnetGroup	0.805	1.06	Outperform
02/27/18	DBS Vickers	HRnetGroup	0.805	0.97	Buy	PER15x FY18, Ex-cash
05/11/18	DBS Vickers	HRnetGroup	0.83	0.98	Buy	DCF & PER15x (ex-cash)
05/11/18	DMG & Partners	HRnetGroup	0.83	1.14	Buy	DCF

Stock calls for 5 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/05/18	DBS Vickers	Dairy Farm	8.9	9.77	Buy
06/05/18	DBS Vickers	Genting	1.26	1.49	Buy
06/05/18	phillip	Geo Energy	0.225	0.41	Buy	PER10x
06/05/18	UOB Kay Hian	Ho Bee	2.49	3.02	Buy
06/05/18	DBS Vickers	Hutchison Port	0.28	0.38	Buy
06/05/18	DBS Vickers	Keppel Corp	7.75	10.2	Buy
06/05/18	CIMB	MM2 Asia	0.485	0.72	Add	Sum of parts
06/05/18	DMG & Partners	Moya Asia	0.087	0.14	Buy
06/05/18	DBS Vickers	Roxy-Pacific	0.505	0.63	Buy
06/05/18	DBS Vickers	Sembcorp Marine	2.11	2.9	Buy
06/05/18	DBS Vickers	SIA	11.48	13.7	Buy
06/05/18	DBS Vickers	Singtel	3.27	3.85	Buy
06/05/18	UOB Kay Hian	Wheelock Properties	1.74	2.33	Buy
06/05/18	DBS Vickers	Wilmar	3.28	3.65	Buy
06/05/18	UOB Kay Hian	Wing Tai	2.05	2.78	Buy	RNAV (20% discount)

How many deaths must happen before the government takes action against cyclists?

https://www.straitstimes.com/singapore/courts-crime/teenage-cyclist-who-allegedly-hit-60-year-old-woman-in-tampines-arrested?xtor=CS11-86

It's about time we take action against cyclists in the park where there are kids and elders frolicking and exercising in the park.

Cyclists and pedestrians cannot co-exist! How many deaths must happen before the government will reconsider to separate cyclists and pedestrians?

This is not the first case and won't be the last one too.  Mark my words!

Recession may come sooner than expected.

https://sg.finance.yahoo.com/news/japans-weak-household-spending-services-activity-hint-recession-035757427--finance.html

The recession may come sooner than expected.  The anticipated recession is in 2019/2020.

When Japan, the 3rd largest economy, enters into a recession, the rest of the world will follow suit because Japan is an export-oriented economy and is an accurate indicator of the world economies.

When Japan is not doing well, it means world trades are floundering too.

Hotung - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/20/17	DMG & Partners	Hotung	1.515	1.9	Buy	PB0.6x, Yield 7%
04/17/17	DMG & Partners	Hotung	1.75	2	Buy	PB0.6x FY17
06/07/17	UOB Kay Hian	Hotung	1.87	3.38	Buy
06/12/17	Lim & Tan	Hotung	1.92	3.02	Buy
07/05/17	UOB Kay Hian	Hotung	1.865	3.38	Buy	PB0.94x
08/17/17	UOB Kay Hian	Hotung	2.1	2.93	Buy

Hotel Properties - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/28/17	OCBC	Hotel Properties	3.76	4.83	Buy
08/16/17	OCBC	Hotel Properties	3.87	4.83	Buy
02/28/18	OCBC	Hotel Properties	3.78	4.74	Buy	RNAV
03/09/18	OCBC	Hotel Properties	3.77	4.74	Buy

Stock calls for 4 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/04/18	UOB Kay Hian	A-Reit	2.64	3.05	Buy
06/04/18	UOB Kay Hian	CapitaCommercial	1.69	2.09	Buy
06/04/18	UOB Kay Hian	CDL Hospitality	1.68	1.95	Buy
06/04/18	UOB Kay Hian	City Developments	11.25	14.03	Buy
06/04/18	UOB Kay Hian	Cityneon	0.98	1.55	Buy
06/04/18	Lim & Tan	CourtsAsia	0.215	0	Hold
06/04/18	UOB Kay Hian	CSE Global	0.465	0.61	Buy
06/04/18	phillip	DBS	28.3	32.7	Accumulate
06/04/18	UOB Kay Hian	DBS	28.3	35.5	Buy
06/04/18	CIMB	ESR-Reit	0.505	0.62	Add
06/04/18	Amfrasers	Geo Energy	0.225	0.3	Buy	DCF, PER6x FY18
06/04/18	UOB Kay Hian	Keppel Corp	7.65	9	Buy
06/04/18	OCBC	KSH	0.635	0.98	Buy
06/04/18	UOB Kay Hian	M1	1.71	1.6	Sell
06/04/18	phillip	OCBC	12.53	14.9	Accumulate
06/04/18	Kim Eng	Oxley	0.46	0.56	Buy	RNAV (20% discount)
06/04/18	CIMB	Sembcorp Industries	2.93	3.49	Add
06/04/18	DBS Vickers	Sembcorp Industries	2.93	4.5	Buy
06/04/18	UOB Kay Hian	Singapore Post	1.32	1.59	Buy
06/04/18	UOB Kay Hian	Singtel	3.25	4.22	Buy
06/04/18	UOB Kay Hian	ST Engineering	3.45	4.1	Buy
06/04/18	UOB Kay Hian	Sunningdale	1.38	2	Buy
06/04/18	UOB Kay Hian	Tianjin Zhongxin	1.21	1.72	Buy
06/04/18	phillip	UOB	28.1	31.7	Accumulate

We urge US to come clean on Iraq invasion!

https://uk.reuters.com/article/uk-china-tiananmen/us-urges-china-to-come-clean-on-tiananmen-anniversary-idUKKCN1J00AE

USA, please come clean on Iraq invasion before you point your finger at another country.

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

The USA is fearmongering again!

https://sg.news.yahoo.com/mattis-slams-china-c-sea-leaves-door-open-004735521.html

The USA is embarking on a smearing campaign again.

The timeline shows that China only started to militarize the South China Sea (SCS) when the USA started to create troubles in SCS by sending their naval vessels to conduct freedom of navigation (FON).  The militarization is a counter response to the USA FON, not to intimidate or coerce other countries.

This is an internet era and we can find the timeline of activities in SCS to disapprove the USA's accusation.  There is a direct causation between US FON and China militarization in SCS.

China to void trade deals if the USA insists on implementing the tariffs.

https://www.bbc.com/news/business-44346461

China has given its latest warning to the USA for implementing the USA tariffs against China.

Let's see if Trump will really do it.

Baltic dry index - 1156

Today, Friday, June 01 2018, the Baltic Dry Index climbed by 66 points, reaching 1156 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: Semcorp Marine, Cosco & Pan Ocean

US rig count - 1060

HOUSTON — The number of rigs exploring for oil and natural gas in the U.S. increased by one this week to 1,060.
At this time a year ago there were 916 active rigs.
Houston oilfield services company Baker Hughes reported Friday that 861 rigs drilled for oil this week and 197 for gas. Two were listed as miscellaneous.
Among major oil- and gas-producing states, Oklahoma added two rigs, and Colorado, Texas, and Wyoming each added one.
Louisiana lost two rigs. New Mexico and North Dakota each lost 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.

The US-NK summit is back in Singapore again!

https://sg.news.yahoo.com/top-north-korean-general-way-us-ahead-summit-064336576.html

Whether there will be a last minute cancellation, only the god knows!

Nevertheless, Singapore will be preparing for this US-NK summit and security will be tight in June 2018.

Facebook doesn't respect shareholders!

https://www.channelnewsasia.com/news/business/facebook-says-all-directors-elected--shareholder-proposals-rejected-10304198

This is the inception of a downfall.

https://www.channelnewsasia.com/news/business/facebook-sinking-fast-among-us-teens-survey-10303044

Opps! It may have already happened.  Teens are dumping FB already as we speak.

Mahathir has shown his true colour which is his hatred for Singapore.

https://fairplay.ihs.com/commerce/article/4302161/mahathir-cancels-singapore-rail-link-renegotiates-china-project

Mahathir doesn't want Singapore to be connected to the OBR initiative and therefore has cancelled the HSR project.  However, he will still retain the rail link with China by renegotiating for better terms.

He just doesn't want SG to reap the economic benefits and uses this HSR cancellation to slow SG growth.  In short, he still hates SG deeply in his heart.

HongKong Land - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/17	CIMB	Hongkong Land	7.02	7.8	Add	RNAV (40% discount)
03/03/17	DBS Vickers	Hongkong Land	7.02	7.8	Buy	RNAV (35% discount)
03/03/17	Lim & Tan	Hongkong Land	7.02	0	Buy
03/06/17	Credit Suisse	Hongkong Land	6.84	7.2	Neutral
03/06/17	DBS Vickers	Hongkong Land	6.84	7.9	Buy
04/04/17	CIMB	Hongkong Land	7.72	8.5	Add	RNAV (35% discount)
05/04/17	DBS Vickers	Hongkong Land	7.75	8.51	Buy	RNAV (30% discount)
06/13/17	Lim & Tan	Hongkong Land	7.76	0	Buy
08/03/17	DBS Vickers	Hongkong Land	7.54	8.93	Buy	RNAV (30% discount)
08/04/17	CIMB	Hongkong Land	7.59	9.1	Add	RNAV (35% discount)
08/07/17	DIR	Hongkong Land	7.8	9.3	Buy	RNAV (30% discount), Up from $8.70
11/10/17	DBS Vickers	Hongkong Land	7.32	8.93	Buy	RNAV (30% discount)
12/20/17	CIMB	Hongkong Land	7.16	9.1	Add
03/09/18	CIMB	Hongkong Land	6.76	9.1	Add	RNAV (35% discount)
03/09/18	Lim & Tan	Hongkong Land	6.76	0	Buy
03/12/18	DBS Vickers	Hongkong Land	7.02	8.53	Buy	RNAV (35% discount)
03/13/18	CIMB	Hongkong Land	7	9.5	Add	RNAV (30% discount)
05/11/18	DBS Vickers	Hongkong Land	7.26	8.53	Buy

Hong Leong Finance - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/17	DBS Vickers	Hong Leong Finance	2.7	3.2	Buy	GGM, PB0.8x FY17
08/10/17	DBS Vickers	Hong Leong Finance	2.63	3.2	Buy	GGM, PB0.8x FY17
11/13/17	DBS Vickers	Hong Leong Finance	2.72	3.2	Buy	GGM, PB0.8x FY17
01/05/18	DBS Vickers	Hong Leong Finance	2.77	3.2	Buy
02/28/18	DBS Vickers	Hong Leong Finance	2.68	3.2	Buy	GGM, PB0.8x FY17
05/03/18	DBS Vickers	Hong Leong Finance	2.8	3.2	Buy	GGM

Stock calls for 1 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/01/18	Amfrasers	Accordia Golf Trust	0.605	0.7	Buy	DDM
06/01/18	Phillip	Aoxin Q&M	0.22	0.29	Not Rated	PER35x FY19
06/01/18	OCBC	Hutchison Port	0.275	0.43	Buy
06/01/18	CIMB	Jubilee	0.039	0.051	Add	Sum of parts
06/01/18	Lim & Tan	KSH	0.645	0	Hold
06/01/18	UOB Kay Hian	OCBC	12.54	16.5	Buy	GGM, PB1.68 FY18
06/01/18	OCBC	SGX	7.24	7.89	Buy	PER23x
06/01/18	SAC Advisors	SLB Dev	0.215	0.28	Buy

Singapore ministers do not dare to comment on Mahathir's intention to build an island on the middle rocks.

https://www.channelnewsasia.com/news/singapore/pedra-branca-singapore-malaysia-icj-to-drop-challenge-10291432

https://www.todayonline.com/content/full-singapore-ministry-foreign-affairs-statement-malaysias-decision-withdraw-icj-challenge

2 Singapore ministers (current & ex) commented on Pedra Branca but both didn't comment on the middle rocks' island that Malaysia was constructing.

It is definitely a security concern to Singapore that Malaysia is building an island for maritime purpose so near to Singapore (just 44km away) but SG doesn't dare to make any remark.

Mahathir is embarking on his anti-Singapore barrage by trying to contain Singapore.  First, it was the HSR cancellation and followed immediately by the island construction remark on the middle rocks.  This won't be the end but a beginning as he loves to skin SG alive.