Yangzijiang Shipping - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/23	DBS Vickers	Yangzijiang Shipping	1.2	1.7	Buy	PB1.7x FY23, PER11x FY23
01/09/23	Lim & Tan	Yangzijiang Shipping	1.23	0	Buy
01/10/23	UOB Kay Hian	Yangzijiang Shipping	1.21	1.55	Buy	PER9x FY23
02/23/23	DBS Vickers	Yangzijiang Shipping	1.35	1.7	Buy	PB1.7x FY23
02/24/23	UOB Kay Hian	Yangzijiang Shipping	1.33	1.58	Buy	PER9x FY23
02/27/23	CIMB	Yangzijiang Shipping	1.32	1.66	Add
03/23/23	UOB Kay Hian	Yangzijiang Shipping	1.2	1.58	Buy	PER9x FY23
03/30/23	CIMB	Yangzijiang Shipping	1.24	1.66	Add
04/26/23	UOB Kay Hian	Yangzijiang Shipping	1.24	1.58	Buy	PER9x FY23
04/26/23	DBS Vickers	Yangzijiang Shipping	1.24	1.7	Buy
04/27/23	CIMB	Yangzijiang Shipping	1.24	1.66	Add	PB1.7x FY23
06/26/23	DBS Vickers	Yangzijiang Shipping	1.26	1.7	Buy	PB1.7x FY23
06/26/23	Lim & Tan	Yangzijiang Shipping	1.26	1.63	Buy
06/27/23	CIMB	Yangzijiang Shipping	1.35	1.66	Add	PB1.7x FY23
06/28/23	UOB Kay Hian	Yangzijiang Shipping	1.45	1.65	Buy	PER8.7x FY23/24
07/20/23	UOB Kay Hian	Yangzijiang Shipping	1.49	1.65	Buy
08/07/23	UOB Kay Hian	Yangzijiang Shipping	1.58	1.88	Buy	PER9.9x
08/07/23	CIMB	Yangzijiang Shipping	1.58	1.87	Add
08/07/23	Citi Research	Yangzijiang Shipping	1.58	1.84	Buy	PER10x FY24
08/08/23	DBS Vickers	Yangzijiang Shipping	1.66	1.9	Buy	PB1.7x FY23
09/21/23	CIMB	Yangzijiang Shipping	1.67	1.96	Add
09/26/23	UOB Kay Hian	Yangzijiang Shipping	1.71	1.88	Buy
11/03/23	DBS Vickers	Yangzijiang Shipping	1.49	1.9	Buy
11/06/23	UOB Kay Hian	Yangzijiang Shipping	1.52	1.92	Buy	PER10.1x
12/08/23	UOB Kay Hian	Yangzijiang Shipping	1.47	1.92	Buy	PER9.9x
12/12/23	CIMB	Yangzijiang Shipping	1.47	1.96	Add
01/18/24	DBS Vickers	Yangzijiang Shipping	1.58	1.9	Buy
01/18/24	Lim & Tan	Yangzijiang Shipping	1.58	1.88	Accumulate
01/19/24	CIMB	Yangzijiang Shipping	1.6	1.96	Add	PB

Yangzijiang Financial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/01/23	Lim & Tan	Yangzijiang Financial	0.35	0.64	Buy
03/02/23	CIMB	Yangzijiang Financial	0.365	0.64	Add	Sum of parts (30% disc)
04/06/23	Lim & Tan	Yangzijiang Financial	0.375	0.64	Buy
07/21/23	Lim & Tan	Yangzijiang Financial	0.335	0.64	Buy
08/17/23	Lim & Tan	Yangzijiang Financial	0.36	0.64	Buy
08/22/23	CIMB	Yangzijiang Financial	0.355	0.55	Add	Sum of parts
09/18/23	Lim & Tan	Yangzijiang Financial	0.37	0.55	Buy
10/23/23	Lim & Tan	Yangzijiang Financial	0.34	0.55	Buy
11/28/23	CIMB	Yangzijiang Financial	0.32	0.55	Add	Sum of parts

Wing Tai - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/10/23	DBS Vickers	Wing Tai	1.52	2.05	Buy
02/13/23	Lim & Tan	Wing Tai	1.52	0	Accumulate
03/27/23	Lim & Tan	Wing Tai	1.49	1.95	Accumulate
08/28/23	Lim & Tan	Wing Tai	1.32	2.05	Accumulate
09/04/23	Lim & Tan	Wing Tai	1.35	1.8	Accumulate	PB0.44x

Stock calls for 29 January 2024

Date	Analyst	Company	Last	Target	Call	Valuation
01/29/24	CIMB	Frasers Centrepoint Trust	2.22	2.54	Add	DDM
01/29/24	DBS Vickers	Keppel DC Reit	1.76	2.2	Buy
01/29/24	CIMB	Keppel DC Reit	1.76	1.88	Hold
01/29/24	UOB Kay Hian	Mapletree Logistics	1.56	1.98	Buy
01/29/24	Kim Eng	Mapletree Logistics	1.56	1.7	Hold	DDM
01/29/24	Citi Research	Mapletree Logistics	1.56	1.85	Buy
01/29/24	UOB Kay Hian	Venture	13.48	16.37	Buy	PER17x FY24

Baltic dry index - 1518

Related stock: Seatrium, Cosco & Pan Ocean.

US rig count (weekly) - 621

Related stock: Seatrium & Cosco.

Latest US PCE and core PCE index changes.

US Core PCE (M-O-M): 0.2%

As the annual core PCE index is affected by the higher base effect of the previous year, it is more accurate to look at the month-on-month change.  The latest month shows a 0.2% increment which is higher than the previous month (0.1%) and this means that the lower monthly inflation growth is unsustainable.