Stock calls for 21 May 2021

Date	Analyst	Company	Last	Target	Call	Valuation
05/21/21	Amfrasers	China Sunsine	0.51	0.68	Outperform	DCF
05/21/21	Macquarie	City Developments	7.47	8.9	Outperform	RNAV
05/21/21	OCBC	City Developments	7.47	9.12	Buy	RNAV
05/21/21	CIMB	City Developments	7.47	8.97	Add	RNAV
05/21/21	CIMB	CSE Global	0.51	0.63	Add
05/21/21	DBS Vickers	CSE Global	0.51	0.63	Buy	PER11.1x FY21
05/21/21	DBS Vickers	Frasers Centrepoint Trust	2.32	3	Buy
05/21/21	UOB Kay Hian	Frasers Centrepoint Trust	2.32	3.06	Buy
05/21/21	Amfrasers	Innotek	0.905	1.12	Buy	EV/Ebitda5.5x, PER14.3x FY22
05/21/21	Kim Eng	Mapletree Industrial	2.76	3.25	Buy	DDM
05/21/21	Lim & Tan	Mapletree Industrial	2.76	0	Accumulate on weakness
05/21/21	UOB Kay Hian	Mapletree Industrial	2.76	3.62	Buy
05/21/21	CIMB	SIA	4.76	5.64	Add	PB1.06x FY22
05/21/21	UOB Kay Hian	SIA	4.76	4.15	Sell	PB1x
05/21/21	OCBC	SIA	4.76	4.75	Hold	PB0.9x
05/21/21	DBS Vickers	SPH Reit	0.84	0.8	Hold
05/21/21	DBS Vickers	Starhill	0.535	0.55	Hold

The US FED is draining short-term cash discreetly from the financial market. - Part 2

Alert: The US FED is draining cash massively now compared to April 2021.

http://sg-stock.blogspot.com/2021/04/the-us-fed-is-draining-short-term-cash.html

There was not a single transaction in the repo transaction because participants didn't need the cash but all the reverse repo transactions were fulfilled which indicated the participants were parking the cash with the FED in April 2021.  However, the US FED has increased its RRP massively to hundreds of billions in May 2021.

Repo (A collateralized short-term loan for participants): No transaction at all!

Reverse Repo (A collateralized short-term loan for the FED): All fulfilled!

What is the motive behind this US FED action and its impact?

The US FED is trying to support its USD with this reduction in liquidity.  Consequently, this will also reduce investments in the financial market.

Tiong Woon - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/09/20	Lim & Tan	Tiong Woon	0.375	0	Accumulate
10/28/20	Lim & Tan	Tiong Woon	0.4	0	Neutral

Tianjin Zhongxin - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/19/20	UOB Kay Hian	Tianjin Zhongxin	0.87	1.25	Buy	PER9.9x FY20

Thai Beverage - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/15/20	DBS Vickers	Thai Beverage	0.665	0.9	Buy	Sum of parts
05/18/20	Phillip	Thai Beverage	0.67	0.8	Buy	PER18x FY20
05/18/20	DMG & Partners	Thai Beverage	0.67	0.72	Neutral	Sum of parts
05/18/20	UOB Kay Hian	Thai Beverage	0.67	0.78	Buy
05/18/20	CIMB	Thai Beverage	0.67	0.7	Hold	Sum of parts
05/20/20	OCBC	Thai Beverage	0.66	0.71	Hold
07/03/20	DBS Vickers	Thai Beverage	0.675	0.9	Buy
08/07/20	DBS Vickers	Thai Beverage	0.63	0.9	Buy
08/17/20	DMG & Partners	Thai Beverage	0.605	0.72	Buy	Sum of parts
08/17/20	CIMB	Thai Beverage	0.605	0.7	Hold
08/17/20	Amfrasers	Thai Beverage	0.605	0.93	Outperform
08/18/20	Phillip	Thai Beverage	0.635	0.82	Buy	PER18x FY21
08/18/20	UOB Kay Hian	Thai Beverage	0.635	0.78	Buy	Sum of parts
09/24/20	CIMB	Thai Beverage	0.59	0.7	Add	Sum of parts, PER16.7x CY21
09/28/20	UOB Kay Hian	Thai Beverage	0.585	0.78	Buy	Sum of parts
10/05/20	Phillip	Thai Beverage	0.595	0.82	Buy
10/13/20	DBS Vickers	Thai Beverage	0.585	0.9	Buy	DCF
11/26/20	DBS Vickers	Thai Beverage	0.72	0.93	Buy	Sum of parts
11/27/20	UOB Kay Hian	Thai Beverage	0.745	0.85	Buy	Sum of parts
11/27/20	CIMB	Thai Beverage	0.745	0.87	Add
11/27/20	DMG & Partners	Thai Beverage	0.745	0.82	Buy
11/30/20	Phillip	Thai Beverage	0.75	0.86	Buy	PER18x FY21
12/08/20	OCBC	Thai Beverage	0.73	0.89	Buy
01/04/21	DBS Vickers	Thai Beverage	0.74	0.93	Buy
01/05/21	Phillip	Thai Beverage	0.73	0.86	Buy
01/18/21	UOB Kay Hian	Thai Beverage	0.775	0.85	Buy	Sum of parts
02/08/21	CIMB	Thai Beverage	0.82	0.872	Add	Sum of parts
02/15/21	Phillip	Thai Beverage	0.785	0.86	Accumulate	PER18x FY21
02/15/21	UOB Kay Hian	Thai Beverage	0.785	0.95	Buy	Sum of parts
02/15/21	DMG & Partners	Thai Beverage	0.785	0.94	Buy
03/29/21	Kim Eng	Thai Beverage	0.72	0.95	Buy
04/20/21	UOB Kay Hian	Thai Beverage	0.72	0.92	Buy	Sum of parts
04/20/21	CIMB	Thai Beverage	0.72	0.95	Add	PER20x FY21
04/21/21	Kim Eng	Thai Beverage	0.715	0.95	Buy
05/17/21	UOB Kay Hian	Thai Beverage	0.67	0.92	Buy
05/17/21	Kim Eng	Thai Beverage	0.67	0.99	Buy	PER20x FY21
05/17/21	CIMB	Thai Beverage	0.67	0.84	Add
05/17/21	DMG & Partners	Thai Beverage	0.67	0.94	Buy
05/18/21	Phillip	Thai Beverage	0.695	0.86	Buy	PER18x FY21