UOB Bank - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	UOB	20.4	18.9	Neutral
01/04/17	Kim Eng	UOB	20.41	18.36	Hold
01/05/17	Credit Suisse	UOB	20.62	23.41	Outperform
01/11/17	DIR	UOB	20.99	24	Buy
01/16/17	Jefferies	UOB	21.03	17	Underperform
01/16/17	phillip	UOB	21.03	18.97	Reduce	PB0.95x FY17
01/26/17	DMG & Partners	UOB	20.99	22.9	Buy	GGM
01/26/17	UBS	UOB	20.99	18.8	Sell
02/02/17	Lim & Tan	UOB	20.98	0	Hold
02/03/17	CIMB	UOB	20.63	18.42	Hold
02/06/17	Macquarie	UOB	20.38	20.5	Neutral
02/20/17	CIMB	UOB	21.18	20.37	Hold	GGM, PB1.02x CY17
02/20/17	Credit Suisse	UOB	21.18	24.3	Outperform
02/20/17	DBS Vickers	UOB	21.18	22.7	Buy	GGM, PB1.1x FY17
02/20/17	DIR	UOB	21.18	24.3	Buy	GGM, PB1.19x
02/20/17	DMG & Partners	UOB	21.18	23.9	Buy	GGM, PB1.2x FY17
02/20/17	Kim Eng	UOB	21.18	19.54	Hold
02/20/17	Lim & Tan	UOB	21.18	0	Take profit
02/20/17	OCBC	UOB	21.18	20.55	Hold
02/20/17	phillip	UOB	21.18	18.92	Reduce	PB0.95x FY17
03/03/17	CIMB	UOB	21.55	20.37	Hold
03/03/17	Jefferies	UOB	21.55	19	Hold
03/06/17	Macquarie	UOB	21.54	20.55	Neutral
03/13/17	Credit Suisse	UOB	21.39	24.3	Outperform
03/17/17	DBS Vickers	UOB	21.75	22.7	Buy
03/21/17	Kim Eng	UOB	21.86	19.54	Hold
04/03/17	Kim Eng	UOB	22.11	19.54	Hold
04/18/17	DIR	UOB	21.65	24.3	Buy
04/25/17	CIMB	UOB	21.88	20.37	Hold
05/02/17	CIMB	UOB	21.8	21.2	Hold	GGM, PB1.05x CY17
05/02/17	DBS Vickers	UOB	21.8	22.7	Buy	GGM, PB1.1x FY17
05/02/17	DIR	UOB	21.8	25	Buy	PB1.19x
05/02/17	DMG & Partners	UOB	21.8	23.9	Buy	GGM, PB1.2x FY17
05/02/17	OCBC	UOB	21.8	21.66	Hold
05/02/17	phillip	UOB	21.8	19.2	Reduce	PB0.95x FY17
05/03/17	Macquarie	UOB	22.8	20.5	Neutral
05/16/17	Credit Suisse	UOB	23.66	24.3	Outperform
05/23/17	Jefferies	UOB	23.38	22.5	Hold
05/25/17	DMG & Partners	UOB	23.46	25.95	Buy
05/29/17	Kim Eng	UOB	23.37	20.8	Hold
06/14/17	Kim Eng	UOB	23.63	20.8	Hold	PB1.1x FY18
06/28/17	DMG & Partners	UOB	22.84	25.95	Buy
07/03/17	Kim Eng	UOB	23.12	20.8	Hold
07/12/17	Credit Suisse	UOB	23.25	25.6	Outperform
07/28/17	Lim & Tan	UOB	24.6	0	Hold
07/28/17	UBS	UOB	24.6	22.5	Sell
07/31/17	Macquarie	UOB	24.05	21.5	Neutral
07/31/17	phillip	UOB	24.05	20.18	Reduce	GGM, PB1.01x FY17
07/31/17	DIR	UOB	24.05	26.4	Outperform	GGM, PB1.23x
07/31/17	DMG & Partners	UOB	24.05	26.5	Buy	GGM, PB1.31x FY17
07/31/17	CIMB	UOB	24.05	24.28	Hold	GGM
07/31/17	DBS Vickers	UOB	24.05	24.8	Hold	GGM, PB1.2x FY18
07/31/17	OCBC	UOB	24.05	23	Hold	Buy @ $22 or lower
08/18/17	Macquarie	UOB	23.6	21.5	Neutral
08/22/17	Kim Eng	UOB	23.45	26.4	Buy	GGM, PB1.1x FY18
08/23/17	DBS Vickers	UOB	23.59	24.8	Hold
08/23/17	Deutsche	UOB	23.59	24	Hold
08/29/17	Credit Suisse	UOB	23.7	25.6	Outperform
09/12/17	DMG & Partners	UOB	23.38	26.5	Buy	PB1x FY18
09/18/17	phillip	UOB	23.05	20.18	Reduce
09/18/17	Kim Eng	UOB	23.05	26.4	Buy
10/09/17	DIR	UOB	24.36	26.4	Outperform
10/20/17	phillip	UOB	24.33	21.61	Reduce
10/25/17	phillip	UOB	24.25	23.46	Neutral	GGM, PB1.09x FY18
10/25/17	DBS Vickers	UOB	24.25	26.9	Buy	GGM, PB1.3x FY18
11/03/17	DMG & Partners	UOB	24.79	27.5	Buy	GGM, PB1.27x FY18
11/03/17	Credit Suisse	UOB	24.79	27.1	Outperform
11/03/17	UBS	UOB	24.79	24	Sell
11/06/17	Kim Eng	UOB	24.77	27.1	Buy	PB1.2x FY18
11/06/17	phillip	UOB	24.77	25.22	Accumulate	GGM, PB1.184x FY18
11/06/17	CIMB	UOB	24.77	25.4	Hold	GGM FY19, PB1.18x FY18
11/06/17	DBS Vickers	UOB	24.77	27.5	Buy	GGM, PB1.3x FY18
11/06/17	Deutsche	UOB	24.77	25.5	Hold
11/09/17	Macquarie	UOB	25.21	24	Neutral
11/20/17	Credit Suisse	UOB	25.06	29.3	Outperform
12/01/17	DMG & Partners	UOB	26.2	28.88	Buy	GGM, PB1.33x FY18
12/08/17	phillip	UOB	25.63	25.22	Accumulate
12/08/17	Jefferies	UOB	25.63	29.5	Buy
01/05/18	DBS Vickers	UOB	27.02	29.5	Buy	GGM, PB1.4x FY18
01/08/18	DMG & Partners	UOB	26.91	28.88	Buy
01/09/18	Deutsche	UOB	27.25	30.6	Buy
01/10/18	phillip	UOB	27.8	25.22	Accumulate
01/26/18	OCBC	UOB	27.98	30.1	Buy	PB1.3x FY18
02/07/18	OCBC	UOB	26.62	30.1	Buy
02/08/18	Macquarie	UOB	26.4	27.5	Neutral
02/12/18	phillip	UOB	26.24	25.22	Accumulate
02/15/18	CIMB	UOB	26.24	28	Add	GGM, PB1.3x FY18, PER11.3x FY19
02/15/18	DMG & Partners	UOB	26.24	30	Buy	GGM, PB1.35x FY18
02/15/18	Kim Eng	UOB	26.24	29.33	Buy	PB1.3x FY18
02/15/18	Credit Suisse	UOB	26.24	31.7	Outperform	GGM
02/15/18	Jefferies	UOB	26.24	29.5	Buy
02/15/18	DBS Vickers	UOB	26.24	30	Buy	GGM, PB1.3x FY18
02/21/18	phillip	UOB	27.22	29	Buy	GGM, PB1.35x
02/22/18	UBS	UOB	27.6	27.5	Neutral
02/22/18	Jefferies	UOB	27.6	33	Buy
03/05/18	OCBC	UOB	27.75	30.86	Buy	PB1.3x FY18
03/20/18	Kim Eng	UOB	28.1	31.08	Buy	GGM, PB1.4x FY18
03/22/18	Lim & Tan	UOB	28.58	0	Buy
04/04/18	DMG & Partners	UOB	26.96	30	Buy
04/20/18	CIMB	UOB	29.78	33	Add	GGM, PB1.5x FY18
04/27/18	DBS Vickers	UOB	29.39	33.2	Buy	GGM, PB1.5x FY18
05/03/18	Jefferies	UOB	29.99	34	Buy
05/03/18	DMG & Partners	UOB	29.99	33.3	Buy	GGM, PB1.51x FY18
05/04/18	phillip	UOB	29.58	31.7	Accumulate	GGM, PB1.5x FY18
05/04/18	CIMB	UOB	29.58	33	Add	GGM, PB1.5x FY18
05/04/18	Kim Eng	UOB	29.58	32.88	Buy	GGM, PB1.5x FY18
05/04/18	DBS Vickers	UOB	29.58	33.2	Buy	GGM, PB1.5x FY18
05/09/18	Macquarie	UOB	29.34	30.5	Outperform
06/04/18	phillip	UOB	28.1	31.7	Accumulate
06/13/18	OCBC	UOB	27.86	31.02	Buy
06/28/18	DBS Vickers	UOB	26.36	33.2	Buy
07/02/18	phillip	UOB	26.76	31.7	Accumulate
07/06/18	DBS Vickers	UOB	27.09	28.3	Hold	GGM, PB1.3x FY18
07/16/18	DMG & Partners	UOB	26.55	33.3	Buy	GGM, PB1.43x FY19
08/01/18	phillip	UOB	27.02	31.7	Accumulate
08/03/18	Macquarie	UOB	26.7	32	Outperform
08/03/18	Lim & Tan	UOB	26.7	0	Buy
08/03/18	DMG & Partners	UOB	26.7	33.3	Buy	GGM, PB1.42x FY19
08/06/18	OCBC	UOB	26.59	32.09	Buy
08/06/18	CIMB	UOB	26.59	31	Add	GGM, PB1.4x FY18
08/06/18	DBS Vickers	UOB	26.59	31.7	Buy	GGM, PB1.4x FY19
08/07/18	phillip	UOB	27.13	34.5	Buy	GGM, PB1.6x FY18

Stock calls for 20 August 2018

Date	Analyst	Company	Last	Target	Call	Valuation
08/20/18	phillip	CNMC	0.23	0.29	Buy	DCF
08/20/18	phillip	Golden Energy	0.305	0.42	Buy	PER10x
08/20/18	CIMB	Mermaid Maritime	0.106	0.13	Hold
08/20/18	Kim Eng	MM2 Asia	0.42	0.57	Buy	PEG
08/20/18	CIMB	Riverstone	1.11	1.3	Add	PER16.7x FY19
08/20/18	OCBC	Sembcorp Marine	1.67	1.74	Hold	PB1.75x FY19
08/20/18	CIMB	Sheng Siong	1.09	1.26	Add	PER22.2x FY19
08/20/18	DMG & Partners	Sheng Siong	1.09	1.3	Buy	DCF & PER21x
08/20/18	UOB Kay Hian	Singtel	3.11	3.98	Buy
08/20/18	UOB Kay Hian	Starhub	1.66	1.82	Hold	DCF, Buy @ $1.64
08/20/18	Phillip	Thai Beverage	0.645	0.62	Reduce	Sum of parts
08/20/18	DBS Vickers	Yanlord	1.48	2.17	Buy	PER5.5x FY18/19

The newspaper is a new construction material used in HDB!

The newspaper is a new construction material used in HDB nowadays!

When my parents' house underwent the HIP in 2013, we also encountered the same thing. My father saw the construction worker inserted newspapers around the windows gaps before using the cement to cover the gaps.  I wrote in to HDB and town council to complain about the shoddy work but HDB didn't take any punitive action against the contractor and the contractor didn't rectify the shoddy work.  This kind of shoddy work didn't occur just for our block but other blocks too.  I still remembered that Surbana was the main contractor for the HIP for our estate.

This is a classic example of ownself checks ownself policy.  This is also why I won't agree to this ownself checks ownself policy.

DHA in milk powder cannot be absorbed by babies for brain development.

https://medicalxpress.com/news/2018-08-critical-role-dha-foetal-brain.html

Duke-NUS had completed a research finding to prove that ingested DHA couldn't be absorbed by babies for brain development.

Therefore, DHA milk powder is just a marketing gimmick because normal milk powder doesn't contain DHA.  You are paying for something that will be excreted from the body because it cannot be absorbed.

China latest hypersonic waverider - Starry-Sky 2 missile.

https://www.janes.com/article/82295/china-claims-successful-test-of-hypersonic-waverider

Nothing can intercept this missile as no intercepting missile can fly so fast.

This is really a great news for China but bad news for the USA.

Baltic dry index - 1723

Today, Friday, August 17 2018,  the Baltic Dry Index climbed by 3 points, reaching 1723 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 - 1057

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. held steady at 1,057 this week.

At this time a year ago there were 946 active rigs.

Houston oilfield services company Baker Hughes reported Friday that 869 rigs drilled for oil this week and 186 for gas. Two were listed as miscellaneous.

Among major oil- and gas-producing states, Texas gained three rigs, Louisiana and Pennsylvania each increased by two and Oklahoma added one.

New Mexico lost three rigs and Alaska, Ohio, West Virginia and Wyoming each decreased by one.

Arkansas, California, Colorado, North Dakota and Utah were unchanged.

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

====================

Related stocks: Keppel Corp, Sembcorp Marine & Cosco.

US inflation is rising rapidly because of Trump.

https://finance.yahoo.com/news/u-s-consumers-no-tolerance-inflation-161959788.html

The US consumers cannot tolerate inflation.  This statement has shown that the ultimate winner in a US-China trade war will be China.

Many analysts are saying that China is losing the trade war because of its falling stock market.  However, the main street is different from the wall street and the main street is more important than the wall street.  The main street people will vote out the government if they cannot survive because of the price hikes.

We've stated this previously in our posting below.

http://sg-stock.blogspot.com/2018/04/who-will-win-in-trade-war-us-or-china.html

United Global - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/13/17	SAC Advisors	United Global	0.325	0.37	Buy
10/17/17	SAC Advisors	United Global	0.355	0.5	Buy
03/01/18	SAC Advisors	United Global	0.41	0.5	Buy	PER12.2x FY18

United Engineers - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/06/17	Lim & Tan	United Engineers	2.66	0	Buy
02/13/17	Lim & Tan	United Engineers	2.91	0	Buy
03/02/17	Lim & Tan	United Engineers	2.94	0	Hold
03/08/17	UOB Kay Hian	United Engineers	2.93	2.75	Hold
03/13/17	DBS Vickers	United Engineers	2.9	2.89	Not Rated
06/01/17	Lim & Tan	United Engineers	2.63	0	Buy
07/14/17	Lim & Tan	United Engineers	2.71	0	Hold	Offer price of $2.60 is too low.
08/16/17	Lim & Tan	United Engineers	2.69	0	Hold
09/21/17	Lim & Tan	United Engineers	2.68	0	Hold
04/02/18	CIMB	United Engineers	2.61	2.94	Add	RNAV (15% discount)
05/08/18	CIMB	United Engineers	2.67	2.94	Add	RNAV (15% discount)

Uni-Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/19/17	Amfrasers	Uni-Asia	1.165	1.92	Buy	Sum of parts, PB0.5x FY17, PER8.2x FY17
06/21/17	NRA	Uni-Asia	1.35	1.85	Overweight	PB0.5x
08/15/17	NRA	Uni-Asia	1355	1.86	Overweight	PB0.5x
08/22/17	Amfrasers	Uni-Asia	1.37	1.92	Buy	Sum of parts, PB0.5x FY17, PER8.2x FY17
12/18/17	Amfrasers	Uni-Asia	1.23	1.85	Buy	Sum of parts, PB0.5x FY17, PER8.2x FY17
03/16/18	Amfrasers	Uni-Asia	1.45	1.81	Buy	Sum of parts, PB0.5x FY18, PER10x FY18
05/22/18	Amfrasers	Uni-Asia	1.4	1.81	Buy	Sum of parts, PB0.5x FY18, PER10x FY18
06/06/18	Amfrasers	Uni-Asia	1.41	2	Buy	Sum of parts, PB0.55x FY18, PER11x FY18

Stock calls for 17 August 2018

Date	Analyst	Company	Last	Target	Call	Valuation
08/17/18	UOB Kay Hian	A-Reit	2.73	3.01	Buy
08/17/18	UOB Kay Hian	CapitaCommercial	1.74	1.99	Buy
08/17/18	Lim & Tan	Capitaland	3.32	0	Buy
08/17/18	UOB Kay Hian	CDL Hospitality	1.54	1.86	Buy
08/17/18	CIMB	Jadason	0.037	0.073	Add	PB1x CY18
08/17/18	UOB Kay Hian	M1	1.6	1.55	Sell
08/17/18	NRA	Megachem	0.32	0.51	Not Rated
08/17/18	DBS Vickers	Mermaid Maritime	0.106	0.13	Hold	Sum of parts
08/17/18	UOB Kay Hian	SATS	5.1	6.1	Buy
08/17/18	NRA	Serial System	0.146	0.24	Overweight	Sum of parts, PER11.2x FY18
08/17/18	OCBC	Starhill	0.675	0.74	Buy
08/17/18	Phillip	Y Venture	0.44	0.61	Buy	PER30x FY18

Number puzzle!

1111 = 0
1289 = 3
2256 = 1
3388 = 4
9090 = 4
1868 = ?

Please solve the puzzle.

Hong Kong-Zhuhai-Macau bridge will open soon!

Yes! It is possible to drive to HK now!

However, a special permit has to be applied in order to drive on this bridge.

UMS - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/01/17	CIMB	UMS	0.675	0.82	Add	GGM, PB1.85x FY17
03/02/17	DBS Vickers	UMS	0.68	0.73	Buy	DCF
05/15/17	CIMB	UMS	0.87	1.15	Add	GGM, PB2.41x
05/16/17	DBS Vickers	UMS	0.98	1.07	Buy	DCF, PER7.4x FY18 ex-cash
05/23/17	DBS Vickers	UMS	1.07	1.33	Buy	PER11x FY18 ex-cash
06/16/17	DBS Vickers	UMS	1.08	1.33	Buy
07/05/17	CIMB	UMS	0.995	1.15	Add	GGM, PB2.41x
08/14/17	CIMB	UMS	1.08	1.12	Hold	GGM, PB2.41x
08/14/17	DBS Vickers	UMS	1.08	1.13	Hold	PER11x FY18 ex-cash
10/25/17	CIMB	UMS	0.925	1.13	Add	GGM, PB2,8x FY18, PER13.3x FY19, Ex-rights 1 for 4
11/13/17	DBS Vickers	UMS	1.02	1.21	Buy	PER12x FY18
11/13/17	CIMB	UMS	1.02	1.21	Add	GGM, PB2.88x
03/01/18	DBS Vickers	UMS	1.16	1.37	Buy	PER12x FY18
03/01/18	CIMB	UMS	1.16	1.31	Add	PB2.95x FY18
04/03/18	DBS Vickers	UMS	1.13	1.37	Buy
05/14/18	DBS Vickers	UMS	1.04	1.37	Buy	PER12x FY19
05/15/18	CIMB	UMS	1.07	1.21	Add	PB2.81x
08/15/18	CIMB	UMS	0.79	1.21	Add	PB2.82x
08/15/18	DBS Vickers	UMS	0.79	1.01	Buy	PER10x FY19

UG Healthcare - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/09/17	Lim & Tan	UG Healthcare	0.295	0	Hold
02/09/17	Kim Eng	UG Healthcare	0.295	0.25	Sell
08/31/17	Kim Eng	UG Healthcare	0.24	0.21	Sell	PER12x FY18
04/24/18	DMG & Partners	UG Healthcare	0.198	0.32	Buy	PER14x FY19
05/14/18	DMG & Partners	UG Healthcare	0.205	0.32	Buy	PER14x FY19

Tuan Sing - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/29/17	UOB Kay Hian	Tuan Sing	0.415	0.71	Buy	Sum of parts
01/15/18	UOB Kay Hian	Tuan Sing	0.49	0.71	Buy
01/29/18	UOB Kay Hian	Tuan Sing	0.48	0.71	Buy	Sum of parts

Stock calls for 16 August 2018

Date	Analyst	Company	Last	Target	Call	Valuation
08/16/18	UOB Kay Hian	Bumitama	0.7	0.93	Buy
08/16/18	DMG & Partners	Capitaland	3.31	3.95	Buy
08/16/18	DMG & Partners	City Developments	9.55	10.4	Neutral
08/16/18	DBS Vickers	First Resources	1.59	2	Buy	DCF
08/16/18	UOB Kay Hian	Golden Agri	0.28	0.16	Sell
08/16/18	CIMB	Golden Agri	0.28	0.25	Reduce	Sum of parts (20% discount)
08/16/18	DMG & Partners	GSS Energy	0.133	0.22	Buy	Sum of parts
08/16/18	CIMB	Ho Bee	2.57	2.9	Add
08/16/18	CIMB	MM2 Asia	0.42	0.72	Add	Sum of parts
08/16/18	phillip	Q & M	0.51	0.649	Buy	PER28x FY18
08/16/18	UOB Kay Hian	Singapore Medical	0.425	0.74	Buy
08/16/18	Lim & Tan	Sunpower	0.595	0.95	Buy	Sum of parts
08/16/18	CIMB	Thai Beverage	0.68	0.88	Add	Sum of parts
08/16/18	DMG & Partners	Thai Beverage	0.68	0.88	Buy	Sum of parts
08/16/18	OCBC	Thai Beverage	0.68	0.89	Buy
08/16/18	CIMB	Y Venture	0.445	0.56	Add	PER30x FY19
08/16/18	OCBC	Yanlord	1.51	2.13	Buy	PER5.5x

The new Noble Group is still not viable!

https://sg.finance.yahoo.com/news/man-triggered-10-billion-commodity-collapse-finally-speaks-032429405.html

According to the ex-employee, Noble had been fudging its books by overvaluing its commodity assets.  The restructuring deal cannot save Noble at all and this ex-employee is trying to launch a class action suit with other shareholders against Noble.

OMG! Tan Chun Sing doesn't understand the USA mentality.

https://www.channelnewsasia.com/news/singapore/trade-chan-chun-sing-us-business-trade-war-china-america-10616794

Why did the USA pull out of TPP?  This was because Trump understood that bilateral negotiation would give the USA more bargaining power than multilateral negotiation.

When the USA engages in any bilateral trade negotiation with another country, it can use its US$19T economy to make an imposition on the smaller country to succumb to the USA demands.  However, it's harder for the USA to impose its demands during a multilateral negotiation.

Trump has this "America First" propaganda and he won't relent.  Tan Chun Sing doesn't understand this and still seeks to ask the USA to engage in multilateral negotiation.

The USA will only serve its own interest but won't care a hoot about others.  The recent incident of the USA punishing Turkey, a NATO member, already proved it.  Turkey stood by the USA in many international affairs but still got backstabbed by the USA in the end.

Tan should look at the bad records of the USA in the past first before he opened his mouth.

Triyards - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	Amfrasers	Triyards	0.315	0.43	Buy	PB0.5x FY17
01/09/17	OCBC	Triyards	0.315	0.47	Buy	PB0.55x FY17
01/09/17	UOB Kay Hian	Triyards	0.315	0.46	Buy	PB0.46x FY17
03/10/17	UOB Kay Hian	Triyards	0.395	0.27	Hold
03/15/17	OCBC	Triyards	0.295	0.345	Hold	PB
04/10/17	OCBC	Triyards	0.25	0.33	Hold	PB0.35x FY17/18
07/24/17	OCBC	Triyards	0.149	0.19	Hold	PB0.3x FY18

Trendlines - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/27/17	NRA	Trendlines	0.143	0.225	Overweight	RNAV (20% discount)
06/28/18	NRA	Trendlines	0.119	0.225	Overweight

Top Glove - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/19/17	Aminvestment	Top Glove	1.98	2.05	Hold	Ringgit target $6.36, up from $6.22
06/20/18	Lim & Tan	Top Glove	3.88	0	Hold
06/22/18	Kim Eng	Top Glove	3.81	4.4	Buy
07/11/18	Kim Eng	Top Glove	3.4	4.36	Hold	Ringgit target $12.90, PER30x FY19

Stock calls for 15 August 2018

Date	Analyst	Company	Last	Target	Call	Valuation
08/15/18	UOB Kay Hian	Banyan Tree	0.535	1	Buy	Sum of parts
08/15/18	DBS Vickers	Bumitama	0.705	0.88	Buy	DCF, PER13.7x FY19
08/15/18	DMG & Partners	Bumitama	0.705	0.8	Buy	PER11x FY19
08/15/18	CIMB	CSE Global	0.45	0.5	Add	PER13.5x CY19
08/15/18	UOB Kay Hian	CSE Global	0.45	0.58	Buy	PER15x FY19
08/15/18	DMG & Partners	Food Empire	0.56	0.6	Neutral	PER14x FY18
08/15/18	DMG & Partners	Fu Yu	0.174	0.22	Buy	DCF
08/15/18	OCBC	Golden Agri	0.28	0.26	Hold	PER17.5x FY19
08/15/18	CIMB	Jumbo	0.515	0.62	Add	PER23x CY19
08/15/18	DBS Vickers	MM2 Asia	0.42	0.62	Buy	Sum of parts
08/15/18	DMG & Partners	Singapore Medical	0.43	0.56	Buy	DCF
08/15/18	CIMB	Starhub	1.65	1.85	Add	DCF
08/15/18	DBS Vickers	Thai Beverage	0.7	0.94	Buy	Sum of parts
08/15/18	CIMB	UMS	0.79	1.21	Add	PB2.82x
08/15/18	DBS Vickers	UMS	0.79	1.01	Buy	PER10x FY19
08/15/18	Kim Eng	Valuetronics	0.735	1.05	Buy
08/15/18	UOB Kay Hian	Valuetronics	0.735	0.96	Buy	PER11.3x FY19
08/15/18	DMG & Partners	Valuetronics	0.735	0.92	Buy	PER10x FY19
08/15/18	CIMB	Valuetronics	0.735	0.95	Add	PER10x CY19
08/15/18	DBS Vickers	Wilmar	3.25	3.61	Buy	DCF
08/15/18	DMG & Partners	Wilmar	3.25	3.69	Buy	Sum of parts
08/15/18	CIMB	Yongnam	0.255	0.45	Add	PB0.8x FY19

What's the real intention behind Goh's ministerial pay speech?

https://sg.news.yahoo.com/comment-furore-ministerial-pay-gaining-currency-131941715.html

It is evident that Goh and PAP cannot get along anymore and Goh is using the tactic that LKY used to cause George Yeo to lose in the GE.  LKY told the Aljunied residents that they would repent for the next 5 year if they didn't vote for George Yeo.

Goh is trying to create the same poignant and make the people disgruntled.  It is pretty obvious that PAP has ramifications in its party now.