UOL - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	DBS Vickers	UOL	6.2	7.2	Buy	RNAV (30% discount)
01/11/17	Kim Eng	UOL	6.34	7.39	Buy
01/12/17	CIMB	UOL	6.3	7.96	Add
01/16/17	phillip	UOL	6.29	7.05	Accumulate	RNAV
01/25/17	Kim Eng	UOL	6.45	7.39	Buy	RNAV (24% discount)
02/06/17	phillip	UOL	6.58	7.05	Accumulate
02/17/17	DBS Vickers	UOL	6.55	7.2	Buy
02/27/17	CIMB	UOL	6.65	7.96	Add	RNAV (20% discount)
02/27/17	Kim Eng	UOL	6.65	7.68	Buy	RNAV (22% discount)
02/27/17	OCBC	UOL	6.65	7.3	Buy
02/28/17	DBS Vickers	UOL	6.51	7.64	Buy	RNAV (30% discount)
02/28/17	Lim & Tan	UOL	6.51	0	Buy
02/28/17	phillip	UOL	6.51	7.4	Accumulate	RNAV (20% discount)
03/09/17	Deutsche	UOL	6.68	6.8	Hold
03/09/17	OCBC	UOL	6.68	7.3	Buy	PB0.66x
03/13/17	CIMB	UOL	6.92	7.96	Add	RNAV (20% discount)
03/13/17	Kim Eng	UOL	6.92	7.68	Buy
03/14/17	UBS	UOL	6.94	8.15	Buy
03/16/17	Kim Eng	UOL	6.93	7.93	Buy
03/17/17	DBS Vickers	UOL	6.98	7.64	Buy
03/17/17	JP Morgan	UOL	6.98	8.2	Overweight
04/10/17	DBS Vickers	UOL	7.02	7.64	Buy
04/18/17	CIMB	UOL	6.98	7.96	Add
04/27/17	phillip	UOL	7.2	7.19	Accumulate
05/12/17	Deutsche	UOL	7.1	7.5	Hold
05/12/17	Kim Eng	UOL	7.1	7.93	Buy
05/15/17	CIMB	UOL	7.07	7.96	Add	RNAV (20% discount)
05/15/17	Kim Eng	UOL	7.07	8.3	Buy
05/15/17	OCBC	UOL	7.07	7.3	Hold
05/16/17	DBS Vickers	UOL	7.09	8.73	Buy	RNAV (20% discount)
05/16/17	phillip	UOL	7.09	7.64	Accumulate	RNAV (15% discount)
05/17/17	Lim & Tan	UOL	7	0	Buy
05/29/17	Kim Eng	UOL	6.94	9.05	Buy	RNAV (15% discount)
06/05/17	Credit Suisse	UOL	7.08	9	Outperform	RNAV (25% discount)
06/14/17	DBS Vickers	UOL	7.79	8.73	Buy
06/16/17	CIMB	UOL	7.6	7.96	Add
06/16/17	Kim Eng	UOL	7.6	9.05	Buy	RNAV (15% discount)
06/22/17	Deutsche	UOL	7.68	7.5	Hold
06/23/17	Lim & Tan	UOL	7.68	0	Buy
06/23/17	OCBC	UOL	7.68	7.3	Hold	RNAV (25% discount)
06/27/17	OCBC	UOL	7.6	8.39	Buy	RNAV (20% discount)
07/11/17	Kim Eng	UOL	7.59	9.05	Buy
07/18/17	JP Morgan	UOL	7.78	8.2	Overweight
07/18/17	CIMB	UOL	7.78	7.96	Add
07/27/17	DBS Vickers	UOL	7.92	8.73	Buy	RNAV (20% discount)
08/07/17	CIMB	UOL	8.06	9.03	Add	RNAV (20% discount)
08/07/17	Kim Eng	UOL	8.06	9.05	Buy
08/07/17	phillip	UOL	8.06	8.93	Accumulate	RNAV (15% discount)
08/08/17	Lim & Tan	UOL	8.16	0	Buy
08/08/17	OCBC	UOL	8.16	9.01	Buy
08/25/17	Kim Eng	UOL	8.13	9.43	Buy	RNAV (15% discount)
08/28/17	DBS Vickers	UOL	8.03	8.73	Buy
09/04/17	OCBC	UOL	8.18	8.63	Buy
09/05/17	CIMB	UOL	8.04	9.03	Add
09/12/17	DBS Vickers	UOL	8.06	8.73	Buy
09/12/17	Lim & Tan	UOL	8.06	0	Buy
09/15/17	Credit Suisse	UOL	8.03	9.4	Outperform
09/25/17	Kim Eng	UOL	8.07	9.43	Buy	RNAV (15% discount)
10/03/17	CIMB	UOL	8.19	9.03	Add
10/06/17	Lim & Tan	UOL	8.2	0	Buy
10/09/17	Kim Eng	UOL	8.55	9.8	Buy	RNAV (10% discount)
10/20/17	Deutsche	UOL	8.98	9.2	Hold
11/10/17	Credit Suisse	UOL	8.8	9.4	Outperform
11/10/17	Kim Eng	UOL	8.8	9.85	Buy	RNAV (10% discount)
11/10/17	CIMB	UOL	8.8	9.62	Add	RNAV (20% discount)
11/10/17	DBS Vickers	UOL	8.8	10.15	Buy	RNAV (20% discount)
11/10/17	Lim & Tan	UOL	8.8	0	Buy
11/13/17	OCBC	UOL	8.75	9.7	Buy
12/06/17	DBS Vickers	UOL	8.56	10.15	Buy
12/14/17	CIMB	UOL	8.72	9.62	Add	RNAV (20% discount)
12/14/17	OCBC	UOL	8.72	9.7	Buy
12/18/17	Kim Eng	UOL	8.54	9.85	Buy
01/04/18	Deutsche	UOL	9.08	10	Buy
01/16/18	CIMB	UOL	9.34	9.62	Add
01/16/18	Kim Eng	UOL	9.34	9.85	Buy	RNAV (15% discount), PB0.85x
01/16/18	Credit Suisse	UOL	9.34	10.8	Outperform
02/07/18	OCBC	UOL	8.71	9.7	Buy
02/07/18	CIMB	UOL	8.71	9.62	Add
02/19/18	DBS Vickers	UOL	8.34	10.15	Buy
02/28/18	Kim Eng	UOL	8.52	10.4	Buy	RNAV (10% discount)
02/28/18	OCBC	UOL	8.52	10.63	Buy	RNAV
02/28/18	CIMB	UOL	8.52	9.67	Add	RNAV (20% discount)
02/28/18	Credit Suisse	UOL	8.52	10.8	Outperform
03/06/18	DBS Vickers	UOL	8.38	10.23	Buy	RNAV (15% discount)
03/12/18	OCBC	UOL	8.75	10.63	Buy
03/16/18	CIMB	UOL	8.79	9.67	Add
03/20/18	Kim Eng	UOL	8.69	10.4	Buy
04/02/18	CIMB	UOL	8.55	9.67	Add	RNAV (20% discount)
04/03/18	OCBC	UOL	8.64	10.63	Buy
04/03/18	DBS Vickers	UOL	8.64	10.23	Buy
04/11/18	Kim Eng	UOL	8.64	10.4	Buy	RNAV (10% discount)
04/13/18	Deutsche	UOL	8.64	10	Buy
05/14/18	OCBC	UOL	8.72	10.63	Buy
05/14/18	CIMB	UOL	8.72	9.65	Add	RNAV (20% discount)
05/14/18	Lim & Tan	UOL	8.72	0	Buy
05/15/18	DBS Vickers	UOL	8.61	10.23	Buy
06/13/18	DBS Vickers	UOL	8	10.23	Buy
06/13/18	CIMB	UOL	8	9.65	Add	RNAV (20% discount)
06/20/18	Kim Eng	UOL	7.5	10.85	Buy
06/26/18	OCBC	UOL	7.45	10.63	Buy
07/06/18	CIMB	UOL	7.75	9.65	Add
07/06/18	Kim Eng	UOL	7.75	10.85	Buy
07/06/18	Deutsche	UOL	7.75	8.3	Hold
07/09/18	OCBC	UOL	6.7	8.48	Buy	RNAV (35% discount)
07/09/18	DBS Vickers	UOL	6.7	7.82	Buy	RNAV (35% discount)
07/09/18	Kim Eng	UOL	6.7	8.95	Buy
07/17/18	Lim & Tan	UOL	6.79	0	Buy
08/06/18	Kim Eng	UOL	7	8.8	Buy	RNAV (35% discount)
08/06/18	OCBC	UOL	7	8.48	Buy
08/06/18	CIMB	UOL	7	8.45	Add	RNAV (30% discount)
08/07/18	DBS Vickers	UOL	7.03	7.82	Hold	RNAV (35% discount)
09/06/18	Kim Eng	UOL	6.76	8.8	Buy
09/14/18	OCBC	UOL	6.85	8.48	Buy
09/18/18	CIMB	UOL	6.88	8.45	Add
09/25/18	Deutsche	UOL	6.95	8.3	Hold
10/02/18	CIMB	UOL	6.88	8.45	Add
11/05/18	DBS Vickers	UOL	6.32	7.82	Hold
11/14/18	CIMB	UOL	6.18	8.45	Add	RNAV (30% discount)
11/14/18	OCBC	UOL	6.18	8.41	Buy	RNAV (35% discount)
11/14/18	Lim & Tan	UOL	6.18	0	Buy
12/05/18	OCBC	UOL	6.3	8.41	Buy
12/07/18	Lim & Tan	UOL	6.23	0	Buy
12/11/18	DBS Vickers	UOL	6.15	7.15	Hold	RNAV (40% discount)

Stock calls for 20 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/20/18	SAC Advisors	Advancer Global Ltd	0.23	0.36	Buy
12/20/18	SAC Advisors	Hong Lai Huat	0.22	0.51	Buy
12/20/18	SAC Advisors	Interra Resources	0.034	0.089	Buy
12/20/18	DBS Vickers	Netlink	0.77	0.87	Buy
12/20/18	SAC Advisors	Sanli Env	0.22	0.36	Buy
12/20/18	DBS Vickers	Singtel	2.96	3.59	Buy
12/20/18	DBS Vickers	Starhub	1.77	2.45	Buy

Ofo bikes sharing company is going to bankrupt soon!

http://www.asiaone.com/business/chinese-bike-sharing-startup-ofo-considering-bankruptcy

We had posted numerous articles on the bikes sharing business before.

https://sg-stock.blogspot.com/2018/07/ofo-bike-sharing-has-failed-in-usa.html

This kind of business is not viable at all even with a strong financial backer like Alibaba.

Hong Kong has raised its interest rate too!

https://sg.finance.yahoo.com/news/hong-kong-tracks-fed-hike-022145501.html

Due to the US-HK currency peg, HK has to increase its interest rate too.  However, this will increase the risk of its property sector and stock market because the HK stock market is heavily weighted towards property stocks.

Since the US Fed will continue to hike interest rates 2x in 2019, HK will have to follow suits too.  Therefore, it's pretty obvious what the continual interest rate hikes will do to the HK stock and property markets.

The new unlisted noble group is a useless company.

https://sg.finance.yahoo.com/news/noble-group-completes-3-5-billion-restructuring-emerge-035119431--finance.html

The existing shareholders will suffer an 80% share dilution in the new unlisted setup and these shareholders cannot cash out at all.  Therefore, the new setup is a private limited company and the existing shareholders become a minority in the new company without the same protection being listed.

Goodbye Noble!

US Fed raised interest rate for the last time in 2018.

https://finance.yahoo.com/news/federal-officials-forecast-two-rate-205719584.html

Although the US Fed raised the interest rate for the last time in 2018, it did reduce its interest rate projections in 2019.  Although the reduced projection is a mild positive, its monetary policy statement is not dovish enough to trigger any stock surge.  Instead, the stock markets plunge due to the disappointment in not pausing the interest rate hikes in 2019.

China has detained a 3rd Canadian!

https://www.channelnewsasia.com/news/asia/another-canadian-citizen-detained-in-china-huawei-11046152

Canada has no benefit in getting involved in this US and FBI's plot.

China won't let Canada off so easily because China must send a strong signal to the world not to follow Canada's footstep in helping the US to sabotage China's 5G developments.

Please read our post below to find out more.

http://sg-stock.blogspot.com/2018/12/another-perspective-of-huawei-cfos.html

UOB Kay Hian - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/10/17	Lim & Tan	UOB Kay Hian	1.385	0	Buy
11/09/18	Lim & Tan	UOB Kay Hian	1.23	0	Buy

UOB - 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
09/26/18	phillip	UOB	27.01	33.69	Buy	GGM, PB1.6x FY18
10/01/18	DMG & Partners	UOB	27.08	33.3	Buy	GGM, PB1.45x FY19
10/02/18	phillip	UOB	27.05	33.69	Buy
10/11/18	Jefferies	UOB	25.88	34	Buy
10/19/18	DBS Vickers	UOB	25.48	31.7	Buy
10/26/18	Lim & Tan	UOB	24.95	0	Buy
10/26/18	OCBC	UOB	24.95	32.09	Buy
10/29/18	phillip	UOB	24.07	32.52	Buy	GGM, PB1.4x FY19
10/29/18	DBS Vickers	UOB	24.07	29.5	Buy	GGM, PB1.3x FY19
10/29/18	DMG & Partners	UOB	24.07	30.8	Buy	GGM, PB1.41x FY19
10/29/18	CIMB	UOB	24.07	31	Add
10/29/18	OCBC	UOB	24.07	28.8	Buy
10/29/18	Jefferies	UOB	24.07	32	Buy
10/31/18	Macquarie	UOB	24	30.5	Outperform
11/01/18	phillip	UOB	24.38	32.52	Buy
11/13/18	DBS Vickers	UOB	24.49	29.5	Buy
11/20/18	DMG & Partners	UOB	24.25	30.8	Buy
12/04/18	DBS Vickers	UOB	25.98	29.5	Buy	GGM, PB1.3x FY19
12/14/18	DMG & Partners	UOB	24.89	30.8	Buy

Unusual - Stock calls

Date	Analyst	Code	Company	Last	Target	Call	Percent	Valuation
08/11/17	NRA	1D1	Unusual	0.475	0.625	Not Rated	31.58	Sum of parts

SPH Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/19/18	CIMB	SPH Reit	1.01	1.02	Hold	DDM
12/19/18	Lim & Tan	SPH Reit	1.01	0	Hold
12/19/18	Kim Eng	SPH Reit	1.01	1.02	Hold

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
08/23/18	NRA	Uni-Asia	1.38	1.99	Overweight	PB0.5x

Crypto exchanges are manipulating crypto prices.

https://sg.finance.yahoo.com/news/zurcoin-co-founder-alleges-most-064330817.html

This is not surprising because crypto exchanges are not unregulated.

Insider trading and manipulation are common in an unregulated market.

Don't whine when you want to invest in an unregulated market.

Hong Kong is going to tighten Crypto regulations.

https://sg.finance.yahoo.com/news/crypto-prices-lower-hong-kong-072100289.html

History has shown that more regulations will lead to lower crypto prices.  Therefore, crypto prices will fall further as more countries tighten crypto regulations.

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
08/28/18	DBS Vickers	UMS	0.825	0.86	Hold	PER10x FY19
11/14/18	CIMB	UMS	0.715	0.75	Hold	PB1.72x
11/14/18	DBS Vickers	UMS	0.715	0.55	Fully Valued	PER8x 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
08/24/18	Lim & Tan	UG Healthcare	0.23	0	Buy
08/27/18	DMG & Partners	UG Healthcare	0.22	0.32	Buy	PER12x FY19
11/14/18	DMG & Partners	UG Healthcare	0.215	0.32	Buy	PER12x 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 17 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/17/18	DBS Vickers	Koufu	0.605	0.8	Buy
12/17/18	DBS Vickers	Mapletree Industrial	1.91	2.22	Buy
12/17/18	Lim & Tan	Nera Telecom	0.265	0	Buy
12/17/18	Kim Eng	Netlink	0.76	0.93	Buy	DDM
12/17/18	DBS Vickers	Sheng Siong	1.09	1.24	Buy

Singapore NODX drops 2.6% in November 2018.

https://www.straitstimes.com/business/economy/singapore-non-oil-exports-drop-26-in-november-following-7-straight-months-of?xtor=CS11-86

Year on year changes (YOY):

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%
Jan 2017: 8.6%

https://sg-stock.blogspot.com/2018/11/singapore-nodx-grew-83-in-october-2018.html

South Korea is slowing down too.

https://sg.finance.yahoo.com/news/south-korea-cuts-gdp-outlook-keeps-policy-seeking-025302667--business.html

South Korea is also slowing down.

https://sg-stock.blogspot.com/2018/12/india-is-slowing-down.html

India - Slowdown
Japan - Slowdown
Hong Kong - Slowdown
Malaysia - Slowdown
Thailand - Slowdown
China - Slowdown
South Korea - Slowdown
Singapore - Slowdown

Look like Asia is slowing down.

The stock markets won't go up when so many countries in Asia are slowing down.