"Pump and dump" for crypto again!

https://www.trustnodes.com/2019/02/24/bitcoin-crashes-500-in-minutes-profit-taking-short-making-or-what

When the price of crypto is below its mining cost, volatility will increase because miners and crypto exchanges have to find ways to survive.  They will resort to pump and dump tactics to keep themselves afloat.

http://sg-stock.blogspot.com/2018/12/pump-and-dump-tactics-are-at-work-again.html

RMB appreciates because of the US.

Why did the RMB appreciate recently? Please see below.

https://sg-stock.blogspot.com/2019/02/usa-is-gearing-up-for-usd-depreciation.html

When one currency depreciates (USD), the other competing currency (RMB) will appreciate.

KSH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/12/18	Lim & Tan	KSH	0.705	0	Hold
02/13/18	OCBC	KSH	0.695	0.79	Hold
02/22/18	UOB Kay Hian	KSH	0.76	1.08	Buy	Sum of parts
06/01/18	Lim & Tan	KSH	0.645	0	Hold
06/04/18	OCBC	KSH	0.635	0.98	Buy
06/07/18	UOB Kay Hian	KSH	0.65	1.04	Buy	Sum of parts
07/16/18	OCBC	KSH	0.615	0.94	Buy
08/13/18	UOB Kay Hian	KSH	0.61	0.87	Buy	RNAV (50% discount)
08/13/18	OCBC	KSH	0.61	0.98	Buy
11/19/18	OCBC	KSH	0.525	0.81	Buy
11/19/18	Lim & Tan	KSH	0.525	0	Buy
02/15/19	OCBC	KSH	0.52	0.81	Buy

Koufu - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/28/18	DBS Vickers	Koufu	0.655	0.84	Buy	PER17x FY19
11/05/18	DBS Vickers	Koufu	0.63	0.84	Buy
11/13/18	DBS Vickers	Koufu	0.635	0.8	Buy	PER17x FY19
12/17/18	DBS Vickers	Koufu	0.605	0.8	Buy

Kimly - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/16/18	DMG & Partners	Kimly	0.34	0.43	Buy	DCF, PER22.8x FY18
05/09/18	DMG & Partners	Kimly	0.345	0.43	Buy	DCF, PER22.8x FY18
06/22/18	DMG & Partners	Kimly	0.345	0.43	Buy	DCF
07/04/18	DMG & Partners	Kimly	0.37	0.46	Buy	DCF
08/10/18	DMG & Partners	Kimly	0.335	0.46	Buy	DCF
09/12/18	DMG & Partners	Kimly	0.325	0.46	Buy	DCF
12/03/18	DMG & Partners	Kimly	0.255	0.27	Neutral	DCF
01/07/19	DMG & Partners	Kimly	0.24	0.27	Neutral
02/14/19	DMG & Partners	Kimly	0.245	0.24	Neutral	DCF

Stock calls for 25 February 2019

Date	Analyst	Company	Last	Target	Call	Valuation
02/25/19	phillip	China Everbright	0.355	0.48	Buy	PER8.9x FY19
02/25/19	DMG & Partners	EC World Reit	0.755	0.84	Buy	DDM
02/25/19	DBS Vickers	Genting	1.07	1.54	Buy	EV/Ebitda12x
02/25/19	Kim Eng	Hi-P	1.14	1.22	Hold	PB1.5x
02/25/19	DMG & Partners	HRnetGroup	0.795	1.06	Buy	DCF
02/25/19	OCBC	Hutchison Port	0.235	0.22	Hold
02/25/19	CIMB	OCBC	11.39	12	Hold	PB1.2x CY19
02/25/19	UOB Kay Hian	OCBC	11.39	13.85	Buy
02/25/19	DBS Vickers	OCBC	11.39	12.9	Buy	GGM, PB1.2x FY19
02/25/19	Kim Eng	OCBC	11.39	10.73	Hold	DDM
02/25/19	OCBC	Roxy-Pacific	0.415	0.41	Hold
02/25/19	DBS Vickers	Sembcorp Industries	2.67	3.9	Buy	RNAV (10% discount), PB1x
02/25/19	Jefferies	UOB	25.58	30	Buy	PER12.3x FY19
02/25/19	OCBC	UOB	25.58	28.3	Buy	PB1.2x FY19
02/25/19	DBS Vickers	UOB	25.58	29.2	Buy	GGM, PB1.2x
02/25/19	phillip	UOB	25.58	32.51	Buy	GGM, PB1.4x FY19
02/25/19	Kim Eng	UOB	25.58	29.71	Buy	DDM
02/25/19	CIMB	UOB	25.58	29	Add	GGM, PB1.3x FY19
02/25/19	CIMB	Venture	16.12	17.88	Add	PER12.56x FY20
02/25/19	Kim Eng	Venture	16.12	19.23	Buy	Roe-g/Coe-g, PB2.2x FY19
02/25/19	DMG & Partners	Venture	16.12	19	Buy
02/25/19	DBS Vickers	Venture	16.12	21.7	Buy	PER15.8x FY19
02/25/19	Lim & Tan	Venture	16.12	0	Buy
02/25/19	OCBC	Venture	16.12	20.89	Buy
02/25/19	DMG & Partners	Wilmar	3.26	3.63	Buy	Sum of parts
02/25/19	DBS Vickers	Wilmar	3.26	3.6	Buy	DCF, PER15.4x FY19

We hit the jackpot on the USD trajectory.

The USD has been trending down after we expressed our view on the downtrend.  Please see below.

https://sg-stock.blogspot.com/2019/02/usd-is-likely-to-depreciate-soon-why.html

Baltic dry index - 634

Today, Friday, February 22 2019, the Baltic Dry Index climbed by 4 points, reaching 634 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 - 1047

The US drilling rig count dropped 4 units to reach 1,047 rigs working for the week ended Feb. 22. The count is up 69 units from the 978 rigs working this time a year ago, according to Baker Hughes data.

Two fewer rigs were drilling on land week-over-week, bringing that number to 1,026. Two fewer rigs were counted offshore, bringing to 19 the total number of units drilling. Inland waters were unchanged at 2 rigs working for the week.

US oil-directed rigs dropped 4 units from last week to 853 units working but remained up from the 799 rigs drilling for oil this week a year ago. Gas-directed rigs remained unchanged at 194, and up from the 179 units drilling for gas a year ago.

Among the major oil and gas-producing states, three saw a single-unit increase week over week: West Virginia, 19; Alaska, 13; and California, 12.

Oklahoma and Louisiana saw rig counts fall 2 units each to 117 and 64, respectively. Dropping a single unit for the week were Texas, 508; New Mexico, 108; and Colorado, 34.

Five states remained unchanged: North Dakota, 57; Pennsylvania, 44; Wyoming, 37; Ohio, 18; and Utah, 8.

Canada dropped 12 rigs for the week. With 212 rigs running, the count is less than the 306 units drilling this week a year ago.

The number of oil-directed rigs in Canada fell by 8 units, bringing the count to 144 rigs for the week. Four fewer gas-directed rigs were drilling, for a total of 68 units for the week.

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

Related stocks: Keppel Corp, Sembcorp Marine & Cosco.

Keppel T&T - Stock Calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/25/18	UOB Kay Hian	Keppel T&T	1.7	1.9	Buy	Sum of parts
04/18/18	UOB Kay Hian	Keppel T&T	1.57	1.75	Buy	PER30.1x FY19
08/28/18	UOB Kay Hian	Keppel T&T	1.4	1.51	Hold	Sum of parts, Buy @ $1.36
09/17/18	UOB Kay Hian	Keppel T&T	1.34	1.51	Hold	Sum of parts, Buy @ $1.30
09/28/18	UOB Kay Hian	Keppel T&T	1.36	1.91	Accept Offer	Offer $1.91
09/28/18	Lim & Tan	Keppel T&T	1.36	0	Take Profit

Keppel Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/18	Deutsche	Keppel Reit	1.27	1.25	Hold
01/05/18	DMG & Partners	Keppel Reit	1.27	1.05	Neutral
01/24/18	Kim Eng	Keppel Reit	1.32	1.19	Hold
01/24/18	UOB Kay Hian	Keppel Reit	1.32	1.43	Buy	DDM
01/24/18	Credit Suisse	Keppel Reit	1.32	0.97	Underperform
01/24/18	CIMB	Keppel Reit	1.32	1.34	Hold	DDM
01/24/18	DBS Vickers	Keppel Reit	1.32	1.41	Buy	DCF
01/24/18	DMG & Partners	Keppel Reit	1.32	1.06	Sell	DDM
02/14/18	Deutsche	Keppel Reit	1.18	1.3	Buy
03/19/18	DBS Vickers	Keppel Reit	1.21	1.41	Buy
04/19/18	UOB Kay Hian	Keppel Reit	1.2	1.43	Buy	DDM
04/19/18	DBS Vickers	Keppel Reit	1.2	1.41	Buy
04/19/18	Lim & Tan	Keppel Reit	1.2	0	Hold
05/17/18	DMG & Partners	Keppel Reit	1.18	1.06	Sell
07/17/18	CIMB	Keppel Reit	1.14	1.34	Add	DDM
07/17/18	UOB Kay Hian	Keppel Reit	1.14	1.35	Buy	DDM
07/17/18	DBS Vickers	Keppel Reit	1.14	1.41	Buy	DCF
08/02/18	DBS Vickers	Keppel Reit	1.19	1.41	Buy
09/14/18	DBS Vickers	Keppel Reit	1.16	1.41	Buy
09/25/18	Deutsche	Keppel Reit	1.19	1.3	Buy
10/16/18	UOB Kay Hian	Keppel Reit	1.14	1.35	Buy	DDM
10/16/18	DMG & Partners	Keppel Reit	1.14	1.07	Neutral	DDM
10/16/18	DBS Vickers	Keppel Reit	1.14	1.41	Buy
10/16/18	CIMB	Keppel Reit	1.14	1.34	Add	DDM
11/30/18	CIMB	Keppel Reit	1.16	1.34	Add	DDM
12/03/18	DBS Vickers	Keppel Reit	1.15	1.41	Buy
12/03/18	DMG & Partners	Keppel Reit	1.15	1.06	Neutral
01/22/19	DBS Vickers	Keppel Reit	1.18	1.31	Buy	DCF
01/22/19	CIMB	Keppel Reit	1.18	1.34	Add	DDM
01/22/19	DMG & Partners	Keppel Reit	1.18	1.06	Neutral	DDM
01/28/19	UOB Kay Hian	Keppel Reit	1.18	1.35	Buy

Keppel KBS - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/15/18	DBS Vickers	Keppel KBS	0.905	0.95	Buy	DCF
04/19/18	DBS Vickers	Keppel KBS	0.885	0.95	Buy
07/19/18	DBS Vickers	Keppel KBS	0.88	0.95	Buy	DCF
09/25/18	DBS Vickers	Keppel KBS	0.78	0.95	Buy
10/19/18	DBS Vickers	Keppel KBS	0.73	0.95	Buy
12/07/18	DBS Vickers	Keppel KBS	0.56	0.78	Buy	DCF
01/02/19	DBS Vickers	Keppel KBS	0.61	0.78	Buy	DCF
01/28/19	DBS Vickers	Keppel KBS	0.68	0.8	Buy	DCF

Stock calls for 22 February 2019

Date	Analyst	Company	Last	Target	Call	Valuation
02/22/19	phillip	City Developments	9.54	11.82	Accumulate	RNAV (30% discount)
02/22/19	OCBC	City Developments	9.54	10.68	Buy
02/22/19	DMG & Partners	City Developments	9.54	9.2	Neutral	RNAV (40% discount)
02/22/19	DBS Vickers	City Developments	9.54	9.5	Hold	RNAV (40% discount)
02/22/19	CIMB	City Developments	9.54	10.66	Add
02/22/19	DMG & Partners	CSE Global	0.465	0.6	Buy	DCF
02/22/19	CIMB	CSE Global	0.465	0.6	Add	PER13.5x FY19
02/22/19	UOB Kay Hian	CSE Global	0.465	0.62	Buy
02/22/19	DBS Vickers	EC World Reit	0.745	0.86	Buy	DCF
02/22/19	DBS Vickers	First Sponsor	1.27	1.62	Buy	RNAV (35% discount)
02/22/19	CIMB	Genting	1.11	1.28	Add	EV/Ebitda9x CY20
02/22/19	OCBC	Genting	1.11	1.31	Buy	FCFE
02/22/19	DMG & Partners	Genting	1.11	1.22	Buy	DCF
02/22/19	UOB Kay Hian	Genting	1.11	1.32	Buy
02/22/19	Kim Eng	Genting	1.11	1.26	Buy	EV/Ebitda9x FY19
02/22/19	DBS Vickers	Hi-P	1.05	1.12	Hold
02/22/19	OCBC	ST Engineering	3.71	4.01	Buy	FCFE
02/22/19	DMG & Partners	ST Engineering	3.71	4.1	Buy
02/22/19	UOB Kay Hian	ST Engineering	3.71	4.06	Buy
02/22/19	Kim Eng	ST Engineering	3.71	4.25	Buy	DCF
02/22/19	DMG & Partners	UOB	25.98	29.8	Buy	PB1.35x FY19
02/22/19	DMG & Partners	Wilmar	3.39	3.58	Buy
02/22/19	CIMB	Wilmar	3.39	3.96	Add	Sum of parts
02/22/19	UOB Kay Hian	Wilmar	3.39	3.9	Buy

Keppel Infrastructure - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/18	UOB Kay Hian	Keppel Infrastructure	0.585	0.61	Buy
01/24/18	DBS Vickers	Keppel Infrastructure	0.58	0.6	Buy	DDM
04/18/18	DBS Vickers	Keppel Infrastructure	0.545	0.6	Buy	DDM
07/19/18	DBS Vickers	Keppel Infrastructure	0.53	0.58	Buy	DDM
10/18/18	DBS Vickers	Keppel Infrastructure	0.49	0.58	Buy	DDM
10/18/18	Lim & Tan	Keppel Infrastructure	0.49	0	Hold
11/16/18	DBS Vickers	Keppel Infrastructure	0.46	0.58	Buy	DDM
11/16/18	Lim & Tan	Keppel Infrastructure	0.46	0	Hold
01/23/19	DBS Vickers	Keppel Infrastructure	0.515	0.58	buy	DDM

Keppel DC Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/18	OCBC	Keppel DC Reit	1.47	1.51	Hold
01/23/18	Lim & Tan	Keppel DC Reit	1.47	0	Hold
01/23/18	CIMB	Keppel DC Reit	1.47	1.44	Hold
01/23/18	DBS Vickers	Keppel DC Reit	1.47	1.6	Buy	DCF
01/24/18	Phillip	Keppel DC Reit	1.46	1.47	Neutral	DDM
02/12/18	Phillip	Keppel DC Reit	1.34	1.47	Neutral	DDM
03/19/18	DBS Vickers	Keppel DC Reit	1.4	1.6	Buy
04/03/18	CIMB	Keppel DC Reit	1.43	1.52	Add	DDM
04/17/18	Phillip	Keppel DC Reit	1.46	1.47	Neutral	DDM
04/17/18	CIMB	Keppel DC Reit	1.46	1.47	Add	DDM
04/17/18	OCBC	Keppel DC Reit	1.46	1.5	Hold
04/17/18	DBS Vickers	Keppel DC Reit	1.46	1.6	Buy
04/17/18	Credit Suisse	Keppel DC Reit	1.46	1.56	Outperform
05/08/18	Phillip	Keppel DC Reit	1.43	1.51	Accumulate	DDM
05/08/18	Deutsche	Keppel DC Reit	1.43	1.3	Hold
05/08/18	Credit Suisse	Keppel DC Reit	1.43	1.56	Outperform
05/08/18	CIMB	Keppel DC Reit	1.43	1.49	Add	DDM
05/08/18	OCBC	Keppel DC Reit	1.43	1.54	Buy
05/21/18	Phillip	Keppel DC Reit	1.36	1.51	Accumulate
06/26/18	DBS Vickers	Keppel DC Reit	1.35	1.52	Buy	DCF
07/18/18	Phillip	Keppel DC Reit	1.35	1.45	Accumulate	DDM
07/18/18	OCBC	Keppel DC Reit	1.35	1.54	Buy
07/18/18	CIMB	Keppel DC Reit	1.35	1.49	Add	DDM
07/18/18	DBS Vickers	Keppel DC Reit	1.35	1.52	Buy
08/08/18	DBS Vickers	Keppel DC Reit	1.39	1.52	Buy
09/04/18	OCBC	Keppel DC Reit	1.36	1.54	Buy
09/25/18	Deutsche	Keppel DC Reit	1.36	1.55	Buy
10/17/18	Phillip	Keppel DC Reit	1.34	1.45	Accumulate	DDM
10/17/18	DBS Vickers	Keppel DC Reit	1.34	1.52	Buy
10/17/18	OCBC	Keppel DC Reit	1.34	1.48	Buy	DDM
10/17/18	CIMB	Keppel DC Reit	1.34	1.51	Add	DDM
11/21/18	Phillip	Keppel DC Reit	1.35	1.45	Accumulate
12/03/18	OCBC	Keppel DC Reit	1.36	1.48	Buy
12/06/18	DBS Vickers	Keppel DC Reit	1.34	1.52	Buy	DCF
01/04/19	Phillip	Keppel DC Reit	1.36	1.45	Accumulate
01/23/19	Phillip	Keppel DC Reit	1.44	1.52	Accumulate	DDM
01/23/19	CIMB	Keppel DC Reit	1.44	1.51	Add	DDM
01/23/19	OCBC	Keppel DC Reit	1.44	1.6	Buy
01/23/19	DBS Vickers	Keppel DC Reit	1.44	1.6	Buy	DCF
02/15/19	Phillip	Keppel DC Reit	1.45	1.52	Accumulate

Keppel Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/18	UOB Kay Hian	Keppel Corp	7.35	8.75	Buy	Sum of parts
01/02/18	CIMB	Keppel Corp	7.35	8.58	Add	Sum of parts
01/09/18	DBS Vickers	Keppel Corp	7.77	9.8	Buy	Sum of parts, PB1.3x FY18
01/10/18	Amfrasers	Keppel Corp	7.85	8.04	Buy
01/10/18	Deutsche	Keppel Corp	7.85	8.5	Buy
01/22/18	OCBC	Keppel Corp	8.25	9.32	Buy
01/23/18	DBS Vickers	Keppel Corp	8.29	10.3	Buy	Sum of parts, PB1.3x FY18
01/26/18	OCBC	Keppel Corp	8.58	9.45	Buy
01/26/18	UOB Kay Hian	Keppel Corp	8.58	9.3	Buy	Sum of parts
01/26/18	DBS Vickers	Keppel Corp	8.58	10.2	Buy
01/26/18	Lim & Tan	Keppel Corp	8.58	0	Buy on weakness
01/26/18	CIMB	Keppel Corp	8.58	10	Add	Sum of parts
02/02/18	Deutsche	Keppel Corp	8.7	8.4	Hold
02/07/18	CIMB	Keppel Corp	8.19	10	Add
02/13/18	UOB Kay Hian	Keppel Corp	7.8	9.3	Buy
02/13/18	DBS Vickers	Keppel Corp	7.8	10.2	Buy
03/02/18	UOB Kay Hian	Keppel Corp	8.01	9.3	Buy
03/05/18	Credit Suisse	Keppel Corp	7.87	10	Outperform
03/05/18	CIMB	Keppel Corp	7.87	10	Add	Sum of parts
03/05/18	OCBC	Keppel Corp	7.87	9.45	Buy
03/06/18	DBS Vickers	Keppel Corp	7.63	10.2	Buy	Sum of parts
03/12/18	Lim & Tan	Keppel Corp	7.73	0	Buy
03/12/18	Amfrasers	Keppel Corp	7.73	8.04	Buy
03/21/18	UOB Kay Hian	Keppel Corp	7.77	9.1	Buy	Sum of parts
03/26/18	Morgan Stanley	Keppel Corp	7.72	9.45	Overweight	Sum of parts, Up from $9.01
04/03/18	CIMB	Keppel Corp	7.8	10	Add	Sum of parts
04/03/18	UOB Kay Hian	Keppel Corp	7.8	9.1	Buy
04/03/18	DBS Vickers	Keppel Corp	7.8	10.2	Buy
04/11/18	OCBC	Keppel Corp	7.81	9.45	Buy	Sum of parts
04/20/18	UOB Kay Hian	Keppel Corp	8.07	9	Buy	Sum of parts
04/20/18	Lim & Tan	Keppel Corp	8.07	0	Hold
04/23/18	Amfrasers	Keppel Corp	8.21	9.43	Buy	Sum of parts
05/03/18	UOB Kay Hian	Keppel Corp	8.15	9	Buy	Sum of parts
05/03/18	OCBC	Keppel Corp	8.15	9.4	Buy
05/08/18	Credit Suisse	Keppel Corp	8.13	10	Outperform
05/22/18	CIMB	Keppel Corp	8.19	10	Add	Sum of parts
06/04/18	UOB Kay Hian	Keppel Corp	7.65	9	Buy
06/05/18	DBS Vickers	Keppel Corp	7.75	10.2	Buy
07/03/18	UOB Kay Hian	Keppel Corp	7.01	9	Buy	Sum of parts
07/03/18	DBS Vickers	Keppel Corp	7.01	10.2	Buy
07/09/18	DBS Vickers	Keppel Corp	6.58	9.1	Buy	Sum of parts
07/11/18	CIMB	Keppel Corp	6.77	8.81	Add	Sum of parts
07/20/18	DBS Vickers	Keppel Corp	6.96	9	Buy	Sum of parts, PB1.3x FY18
07/20/18	OCBC	Keppel Corp	6.96	8.7	Buy
07/23/18	CIMB	Keppel Corp	7.09	8.82	Add	Sum of parts
07/23/18	Lim & Tan	Keppel Corp	7.09	0	Hold
07/23/18	Deutsche	Keppel Corp	7.09	8.4	Hold	RNAV (35% discount)
08/24/18	UOB Kay Hian	Keppel Corp	6.81	7.37	Hold	Sum of parts, Buy @ $6.6
09/06/18	DBS Vickers	Keppel Corp	6.44	9	Buy
09/10/18	OCBC	Keppel Corp	6.36	8.38	Buy	Sum of parts
09/21/18	UOB Kay Hian	Keppel Corp	6.8	7.37	Hold	Buy @ $6.60
09/25/18	CIMB	Keppel Corp	7	8.82	Add	Sum of parts
09/25/18	Deutsche	Keppel Corp	7	8.4	Hold
09/27/18	Amfrasers	Keppel Corp	7.16	9.43	Buy	Sum of parts
09/28/18	Lim & Tan	Keppel Corp	7.16	0	Neutral
10/02/18	Amfrasers	Keppel Corp	7.04	9.43	Buy	Sum of parts
10/03/18	Macquarie	Keppel Corp	7.04	8.4	Outperform	Sum of parts
10/08/18	CIMB	Keppel Corp	7.1	8.82	Add
10/19/18	UOB Kay Hian	Keppel Corp	6.76	6.79	Hold	Sum of parts, Buy @ $6.10
10/19/18	OCBC	Keppel Corp	6.76	7.97	Buy
10/19/18	CIMB	Keppel Corp	6.76	8.28	Add	Sum of parts
10/22/18	Lim & Tan	Keppel Corp	6.64	0	Hold
11/21/18	CIMB	Keppel Corp	6.18	8.38	Add	Sum of parts
01/04/19	OCBC	Keppel Corp	5.81	7.25	Buy	Sum of parts
01/10/19	DIR	Keppel Corp	6.18	7.15	Buy	Cut from $7.86, Sum of parts
01/23/19	CIMB	Keppel Corp	6.17	8.28	Add
01/25/19	OCBC	Keppel Corp	6.13	7.55	Buy
01/25/19	CIMB	Keppel Corp	6.13	8.41	Add	Sum of parts
01/28/19	Lim & Tan	Keppel Corp	6.2	0	Hold
01/29/19	Amfrasers	Keppel Corp	6.14	7.5	Hold
01/29/19	Macquarie	Keppel Corp	6.14	8.2	Outperform	Sum of parts
02/21/19	CIMB	Keppel Corp	6.32	8.41	Add	Sum of parts

Stock calls for 21 February 2019

Date	Analyst	Company	Last	Target	Call	Valuation
02/21/19	DBS Vickers	Breadtalk	0.88	0.92	Hold	Sum of parts
02/21/19	DMG & Partners	Breadtalk	0.88	0.81	Neutral	Sum of parts
02/21/19	Kim Eng	Bumitama	0.69	0.96	Buy
02/21/19	OCBC	Capitaland	3.43	3.98	Buy	RNAV
02/21/19	Phillip	Capitaland	3.43	4	Accumulate	PB0.75x FY19
02/21/19	CIMB	Capitaland	3.43	3.56	Add	RNAV (35% discount)
02/21/19	DBS Vickers	Capitaland	3.43	3.62	Buy
02/21/19	DBS Vickers	China Everbright	0.35	0.49	Buy
02/21/19	Kim Eng	First Resources	1.69	2.1	Buy
02/21/19	DBS Vickers	Ifast Corp	1.11	1.19	Hold	DDM
02/21/19	CIMB	Keppel Corp	6.32	8.41	Add	Sum of parts
02/21/19	CIMB	MM2 Asia	0.3	0.37	Add	Sum of parts
02/21/19	Kim Eng	MM2 Asia	0.3	0.34	Buy	PEG0.93x
02/21/19	Lim & Tan	Sembcorp Industries	2.66	0	Hold
02/21/19	CIMB	Sembcorp Marine	1.68	2.21	Add	PB2x CY19
02/21/19	OCBC	Sembcorp Marine	1.68	1.77	Hold
02/21/19	phillip	Sembcorp Marine	1.68	1.76	Neutral	PB1.6x
02/21/19	Lim & Tan	Sembcorp Marine	1.68	0	Hold
02/21/19	UOB Kay Hian	Singapore Medical	0.47	0.65	Buy	PER23x FY19
02/21/19	DMG & Partners	Singapore Medical	0.47	0.54	Buy	DCF
02/21/19	phillip	Singapore O&G	0.355	0	Cease Coverage
02/21/19	Lim & Tan	ST Engineering	3.77	0	Hold
02/21/19	DMG & Partners	Talkmed	0.58	0.62	Neutral	DCF