Hong Leong Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/24/22	CIMB	Hong Leong Asia	0.735	1.05	Add
01/13/23	CIMB	Hong Leong Asia	0.65	1.05	Add
01/27/23	CIMB	Hong Leong Asia	0.68	1.1	Add	Sum of parts
03/14/23	CIMB	Hong Leong Asia	0.66	1.1	Add	Sum of parts
09/12/23	CIMB	Hong Leong Asia	0.605	1	Add

Stock calls for 2 October 2023

Date	Analyst	Company	Last	Target	Call	Valuation
10/02/23	CIMB	Capitaland Investment	3.1	4.3	Add	RNAV
10/02/23	CIMB	DBS	33.64	35.3	Add
10/02/23	DBS Vickers	ESR-Reit	0.28	0.38	Buy
10/02/23	Lim & Tan	Keppel Corp	6.8	7.88	Accumulate
10/02/23	CIMB	OCBC	12.81	14	Add
10/02/23	DMG & Partners	Raffles Medical	1.25	1.75	Buy	DCF
10/02/23	phillip	Sasseur	0.67	0.9	Buy	DDM
10/02/23	Lim & Tan	Seatrium	0.13	0.17	Accumulate
10/02/23	Lim & Tan	Sembcorp Industries	5.09	6.64	Accumulate
10/02/23	DBS Vickers	Singtel	2.42	3.18	Buy
10/02/23	Citi Research	Singtel	2.42	2.85	Buy	Sum of parts
10/02/23	CIMB	UOB	28.5	33.3	Add
10/02/23	CIMB	UOL	6.42	8.2	Add	RNAV
10/02/23	Citi Research	UOL	6.42	9.08	Buy	RNAV (25% disc)

Baltic dry index - 1701

Related stock: Sembcorp Marine, Cosco & Pan Ocean.

US rig count (weekly) - 623

Related stock: Sembcorp Marine & Cosco.

Latest economic updates for the past week.

 Q2 US GDP growth: 2.1%

As stated previously, the US GDP growth would deteriorate in the 2nd half of 2023 compared to the 1st half.

https://sg-stock.blogspot.com/2023/09/3-important-economic-statistics-for.html

Where's the proof?

The US consumer credit had peaked and would decline as it was unsustainable over a long period.  A recession would follow whenever the consumer credit was in a decline as shown on the chart below.

The consumer credit had started to decline (below 0%) as shown on the chart below.

As stated previously, there won't be any significant fall in the US inflation anymore.

https://sg-stock.blogspot.com/2023/08/us-inflation-is-going-to-remain.html

The latest PCE chart corroborated our prognosis for the US inflation.

Hong Fok - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/04/23	UOB Kay Hian	Hong Fok	1.01	1.9	Buy

Ho Bee - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/12/22	DBS Vickers	Ho Bee	2.81	3.8	Buy
09/12/22	DBS Vickers	Ho Bee	2.78	3.8	Buy
12/23/22	Lim & Tan	Ho Bee	2.4	3.38	Hold
03/15/23	Lim & Tan	Ho Bee	2.22	3.38	Buy
07/17/23	Lim & Tan	Ho Bee	2.01	3.8	Accumulate