Q&M - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/08/21	phillip	Q&M	0.485	0.7	Buy	PER20x FY21 + assoc cap
03/10/21	CIMB	Q&M	0.645	0.92	Add	PER20x FY22
03/30/21	Kim Eng	Q&M	0.605	0.87	Buy	PER22x FY21
04/30/21	DBS Vickers	Q&M	0.62	0.81	Buy	Sum of parts
05/12/21	CIMB	Q&M	0.61	0.97	Add
05/12/21	Lim & Tan	Q&M	0.61	0	Buy
05/18/21	Kim Eng	Q&M	0.655	0.87	Buy
05/19/21	phillip	Q&M	0.67	1	Buy	PER25x FY21
05/20/21	DBS Vickers	Q&M	0.685	0.84	Buy	Sum of parts
06/09/21	Lim & Tan	Q&M	0.67	0.88	Buy
06/11/21	Amfrasers	Q&M	0.675	0.91	Outperform
06/29/21	UOB Kay Hian	Q&M	0.76	0.94	Buy	PER20x FY22
07/06/21	phillip	Q&M	0.83	1	Buy
07/27/21	DBS Vickers	Q&M	0.805	1	Buy	Sum of parts
08/16/21	CIMB	Q&M	0.855	0.97	Add
08/17/21	DBS Vickers	Q&M	0.815	1	Buy	Sum of parts
08/18/21	Kim Eng	Q&M	0.805	1.03	Buy	PER22x FY22
08/19/21	Lim & Tan	Q&M	0.81	1	Buy
08/23/21	phillip	Q&M	0.775	0.98	Buy	PER25x FY22
09/15/21	Kim Eng	Q&M	0.57	0.85	Buy	PER22x FY22
09/16/21	CIMB	Q&M	0.58	0.89	Add	PER22x FY22
10/05/21	Lim & Tan	Q&M	0.565	0.85	Buy
10/11/21	CIMB	Q&M	0.61	0.89	Add
10/14/21	Kim Eng	Q&M	0.575	0.85	Buy
11/11/21	DBS Vickers	Q&M	0.56	1	Buy
11/12/21	CIMB	Q&M	0.575	0.835	Add
11/18/21	Kim Eng	Q&M	0.595	0.78	Buy	PER22x FY22
11/19/21	phillip	Q&M	0.595	0.82	Buy	PER25x FY22
11/26/21	DBS Vickers	Q&M	0.605	0.8	Buy	Sum of parts
12/01/21	UOB Kay Hian	Q&M	0.65	0.78	Buy
12/08/21	Lim & Tan	Q&M	0.62	0	Buy
01/07/22	phillip	Q&M	0.615	0.82	Buy
01/17/22	Lim & Tan	Q&M	0.61	0.8	Buy

Stock calls for 19 January 2022

Date	Analyst	Company	Last	Target	Call	Valuation
01/19/22	DBS Vickers	City Developments	7.13	10.5	Buy
01/19/22	Phillip	Fortress Minerals	0.44	0.5	Accumulate	PER10x FY22
01/19/22	CIMB	GKE	0.116	0.16	Add	Sum of parts, PER11.7x CY22
01/19/22	CIMB	Nanofilm	3.3	3.92	Add	PER22.25x, PEG1x
01/19/22	DBS Vickers	SIA Engineering	2.18	2.65	Buy
01/19/22	Lim & Tan	SIA Engineering	2.18	2.75	Accumulate
01/19/22	CIMB	Venture	18.14	23.32	Add
01/19/22	UOB Kay Hian	Wilmar	4.24	6	Buy	PER19x FY22

The true economic situation in the US. - Part 2

https://finance.yahoo.com/news/traders-pricing-risk-first-half-195951919.html

Did we spook the market again with our latest post below? Hahaha!

http://sg-stock.blogspot.com/2022/01/the-true-economic-situation-in-us.html

The traders are pricing in a 50bp hike in March 2022 now.  Well, it makes sense for them to price in a 50bp hike in March or more aggressive hikes for 2022 because the current US FED (Powell) is a very political person.  He will try not to have aggressive rate hikes in the latter half of 2022 because this will ruin Biden's election.  In a nutshell, the current US FED is no longer an independent entity.

The true economic situation in the US.

Since the US is a service-oriented economy, it is heavily dependent on the retail sector for its employment.  We can see this high correlation between non-farm payroll employment and retail sales on the chart below.

The high inflation is causing retail sales to plunge and this will inevitably hurt the US employment rate later.  Therefore, the US has to resolve the high inflation urgently in the 1st half of 2022 because hiking rates in the 2nd half of 2022 will cause President Biden to lose his mid-term election in November 2022.

The high inflation is also causing lootings in the US.

https://edition.cnn.com/2022/01/14/economy/la-freight-railroad-theft/index.html

Therefore, the US Fed cannot afford to wait any longer or the unemployment rate will spike up later.  The US is facing a conundrum now because it has to hike its rates more aggressively in the 1st half to safeguard Biden's election.

Propnex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/21	phillip	Propnex	0.77	0.85	Buy
02/24/21	Lim & Tan	Propnex	0.78	0	Accumulate on weakness
02/26/21	UOB Kay Hian	Propnex	0.81	0.97	Buy
02/26/21	CIMB	Propnex	0.81	0.888	Add
03/01/21	phillip	Propnex	0.81	1	Buy	DCF
03/08/21	Lim & Tan	Propnex	0.875	1	Buy	PER11.6x FY21
05/11/21	Lim & Tan	Propnex	1.09	0	Buy
05/12/21	UOB Kay Hian	Propnex	1.1	1.34	Buy
05/17/21	phillip	Propnex	1.14	1.36	Buy	DCF
05/17/21	CIMB	Propnex	1.14	1.19	Add
08/12/21	UOB Kay Hian	Propnex	1.96	2.09	Hold	PER12.5x
08/13/21	CIMB	Propnex	1.95	2.05	Hold	DCF & PER
08/16/21	phillip	Propnex	1.9	2.08	Accumulate	DCF
08/18/21	Lim & Tan	Propnex	1.88	2.19	Accumulate	PER13.5x FY21
08/27/21	SAC Capital	Propnex	1.92	2	Hold	PER13.8x FY21, Up from $1.27
09/17/21	DBS Vickers	Propnex	1.78	1.83	Hold	PER12x FY22
10/06/21	UOB Kay Hian	Propnex	1.69	1.97	Buy	PER11.1x
10/07/21	DBS Vickers	Propnex	1.75	1.83	Hold
11/11/21	UOB Kay Hian	Propnex	1.9	2.17	Buy	PER12.6x
11/11/21	DBS Vickers	Propnex	1.9	1.84	Hold	PER12x FY22
11/11/21	CIMB	Propnex	1.9	2.07	Hold
11/15/21	phillip	Propnex	1.92	2.08	Accumulate	DCF
12/01/21	CIMB	Propnex	1.78	2.07	Hold
12/01/21	UOB Kay Hian	Propnex	1.78	2.17	Buy	PER12.6x
12/01/21	phillip	Propnex	1.78	2.08	Accumulate
12/01/21	DBS Vickers	Propnex	1.78	1.84	Hold	PER12x FY22
12/01/21	SAC Capital	Propnex	1.78	1.94	Hold	PER13.68x

Procurri - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/22/21	Amfrasers	Procurri	0.335	0.38	Neutral