Stock calls for 3 February 2020

Date	Analyst	Company	Last	Target	Call	Valuation
02/03/20	UOB Kay Hian	A-Reit	3.15	3.35	Buy	DDM
02/03/20	DMG & Partners	A-Reit	3.15	3.1	Neutral	DDM
02/03/20	CIMB	A-Reit	3.15	3.14	Hold
02/03/20	Kim Eng	AIMS AMP Cap Ind Reit	1.46	1.6	Buy	DDM
02/03/20	UOB Kay Hian	ART	1.26	1.57	Buy
02/03/20	OCBC	CDL Hospitality	1.56	1.62	Hold
02/03/20	Kim Eng	CDL Hospitality	1.56	1.75	Buy
02/03/20	UOB Kay Hian	CDL Hospitality	1.56	1.89	Buy
02/03/20	DBS Vickers	Far East Hospitality	0.68	0.69	Hold	PB0.85x
02/03/20	OCBC	Frasers Centrepoint Trust	2.88	2.93	Hold
02/03/20	OCBC	Mapletree Commercial	2.35	2.44	Hold
02/03/20	DBS Vickers	OCBC	10.83	11.5	Hold
02/03/20	OCBC	OUE Commercial	0.545	0.55	Hold
02/03/20	DBS Vickers	OUE Commercial	0.545	0.6	Buy	DCF
02/03/20	DBS Vickers	UOB	25.66	29.2	Buy

Red alert - H5N1 bird flu outbreak in Hunan.

https://www.channelnewsasia.com/news/asia/china-reports-h5n1-bird-flu-outbreak-hunan-wuhan-coronavirus-12381796

China has not managed to contain the coronavirus yet and H5N1 outbreak has started in Hunan.  It is estimated that the coronavirus will reach its peak in April 2020 before it subsides.

With these 2 viruses circulating in China, there is a high possibility that 1 quarter GDP growth will be wiped out in China.  It will be impossible for China to maintain a 6% GDP growth in 2020.

What happened to those cities under lockdown in China?

The markets, streets and malls are all empty and look like a ghost city.

When there is no human activity, there is no economic value.  Therefore, the 16 cities under lockdown with an estimated 60m people will be greatly impacted economically because China is a consumption-led economy now.  Furthermore, China is being increasingly ostracized by many countries as the Chinese are being denied entries.  The world is looking at China Chinese as locusts now.

There is also some speculation that the fatality rate of the coronavirus is much higher than stated because China is labelling the cause of death as visceral organ failure for those who die due to the virus.  The economic consequence will be much greater in 2020 than the SARS in 2003 because China's GDP in 2003 was only US$1.66T.  Moreover, China's economic contribution to the world is now at 39%.

http://sg-stock.blogspot.com/2018/10/china-gdp-was-growing-at-65-in-q3-2018.html

Baltic dry index - 487

Today, Friday, January 31 2020, the Baltic Dry Index decreased by 11 points, reaching 487 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 stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count - 790

Related stock: Keppel Corp, Sembcorp Marine & Cosco.

The US yield curve inversion has happened again in 2020!

The 10-year yield is 1.51% which is lower than 1-m, 2-m, 3-m and 4-m.

We hit the nail on Luckin Coffee.

https://www.investors.com/news/luckin-coffee-stock-falls-muddy-waters-report-fraud/?src=A00220&yptr=yahoo

Muddy Waters has targeted Luckin Coffee.

We had warned about Luckin Coffee in May 2019.

http://sg-stock.blogspot.com/2019/05/do-not-subscribe-to-luckin-coffee-ipo.html

http://sg-stock.blogspot.com/2019/05/luckin-has-fallen-below-its-ipo-price.html

The difference between a normal chest x-ray vs coronavirus chest x-ray.

Normal chest x-ray with clear visibility of ribs.

Coronavirus chest x-ray with foggy visibility.

The coronavirus has destroyed the lung's capability to breathe.

Human to human transmission has started for coronavirus.

https://www.channelnewsasia.com/news/asia/wuhan-virus-thailand-first-human-coronavirus-transmission-12374356

https://www.cnbc.com/2020/01/30/cdc-confirms-first-human-to-human-transmission-of-coronavirus-in-us.html

The US and Thailand have reported human to human transmission cases.  Although the fatality rate is much lower than SARS, the economic impacts will be much greater than SARS since there are more people getting infected by this new virus.

Frencken - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/12/19	Amfrasers	Frencken	0.51	0.67	Buy	PER10x FY19
04/15/19	DBS Vickers	Frencken	0.6	0.75	Buy	PER8.5x FY19/20
04/17/19	CIMB	Frencken	0.635	0.9	Add	PER10x FY20
05/09/19	DMG & Partners	Frencken	0.615	0.82	Buy	DCF
05/10/19	DBS Vickers	Frencken	0.615	0.75	Buy	PER8.5x FY19/20
05/10/19	Lim & Tan	Frencken	0.615	0	Buy
05/10/19	CIMB	Frencken	0.615	0.9	Add
05/14/19	Amfrasers	Frencken	0.595	0.67	Buy	PER10x FY19
06/12/19	DMG & Partners	Frencken	0.625	0.82	Buy	DCF
08/13/19	DBS Vickers	Frencken	0.66	0.8	Buy
08/13/19	CIMB	Frencken	0.66	0.9	Add
08/13/19	DMG & Partners	Frencken	0.66	0.82	Buy	DCF
08/13/19	DBS Vickers	Frencken	0.66	0.8	Buy	PER8.5x
08/22/19	CIMB	Frencken	0.73	0.95	Add
08/22/19	Amfrasers	Frencken	0.73	0.81	Neutral	PER10x FY20
09/11/19	Amfrasers	Frencken	0.675	0.81	outperform	PER10x FY20
10/08/19	DMG & Partners	Frencken	0.675	0.82	Buy
11/07/19	CIMB	Frencken	0.72	0.94	Add	PER10x FY20
11/07/19	Amfrasers	Frencken	0.72	0.93	outperform	PER10x FY20
11/07/19	DBS Vickers	Frencken	0.72	0.95	Buy	PER9x FY20
11/11/19	DMG & Partners	Frencken	0.76	0.82	Buy	DCF
11/18/19	Amfrasers	Frencken	0.92	0.93	Neutral	PER10x FY20
11/29/19	DBS Vickers	Frencken	0.905	1.06	Buy	PER10x FY20
12/02/19	Amfrasers	Frencken	0.89	0.93	outperform	PER10x FY20
12/10/19	DMG & Partners	Frencken	0.94	0.92	Neutral	DCF
01/24/20	DBS Vickers	Frencken	0.91	1.06	Buy	PER10x FY20

Frasers Property - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/17/19	DBS Vickers	Frasers Property	1.74	1.98	Buy	RNAV (35% discount)
02/14/19	CIMB	Frasers Property	1.7	2.08	Add
02/14/19	DBS Vickers	Frasers Property	1.7	1.98	Buy	RNAV (35% discount)
03/22/19	DBS Vickers	Frasers Property	1.77	1.98	Buy	RNAV (35% discount)
04/08/19	DBS Vickers	Frasers Property	1.81	1.98	Buy
04/10/19	DBS Vickers	Frasers Property	1.84	2.3	Buy	RNAV (35% discount)
05/06/19	DBS Vickers	Frasers Property	1.89	2.3	Buy	RNAV (35% discount)
05/07/19	CIMB	Frasers Property	1.85	2.08	Add
11/18/19	DBS Vickers	Frasers Property	1.82	2.05	Buy	RNAV (40% discount)

Frasers Logistics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/28/19	DBS Vickers	Frasers Logistics	1.06	1.2	Buy	DCF
01/28/19	OCBC	Frasers Logistics	1.06	1.19	Buy
01/28/19	CIMB	Frasers Logistics	1.06	1.19	Add
02/08/19	DBS Vickers	Frasers Logistics	1.09	1.2	Buy
04/03/19	DBS Vickers	Frasers Logistics	1.16	1.2	Buy
04/30/19	OCBC	Frasers Logistics	1.18	1.2	Hold
05/02/19	CIMB	Frasers Logistics	1.18	1.21	Hold	DDM
06/28/19	OCBC	Frasers Logistics	1.19	1.2	Hold
07/04/19	OCBC	Frasers Logistics	1.23	1.2	Hold
07/04/19	Lim & Tan	Frasers Logistics	1.23	0	Hold
07/04/19	CIMB	Frasers Logistics	1.23	1.25	Hold
08/21/19	CIMB	Frasers Logistics	1.2	1.27	Add
08/21/19	OCBC	Frasers Logistics	1.2	1.22	Hold
11/06/19	Lim & Tan	Frasers Logistics	1.25	0	Hold
11/07/19	OCBC	Frasers Logistics	1.26	1.28	Hold
11/07/19	DBS Vickers	Frasers Logistics	1.26	1.4	Buy	DCF
11/07/19	CIMB	Frasers Logistics	1.26	1.31	Add
12/03/19	CIMB	Frasers Logistics	1.24	1.31	Add

Stock calls for 31 January 2020

Date	Analyst	Company	Last	Target	Call	Valuation
01/31/20	Lim & Tan	AIMS AMP Cap Ind Reit	1.43	0	Hold
01/31/20	Kim Eng	ART	1.27	1.4	Hold	DDM
01/31/20	DBS Vickers	ART	1.27	1.5	Buy
01/31/20	OCBC	Cache Logistics	0.715	0.74	Hold
01/31/20	DMG & Partners	CDL Hospitality	1.56	1.62	Neutral	DDM
01/31/20	DBS Vickers	CDL Hospitality	1.56	1.75	Buy	DCF
01/31/20	CIMB	First Reit	1.02	1.15	Add	DDM
01/31/20	CIMB	Japfa	0.56	0.69	Add
01/31/20	Kim Eng	Japfa	0.56	0.72	Buy
01/31/20	CIMB	Mapletree Logistics	1.85	1.59	Hold
01/31/20	phillip	SGX	8.7	8.52	Neutral	PER21.5x

The US GDP growth exceeds expectations.

https://www.whitehouse.gov/articles/united-states-gdp-growth-continues-exceeding-expectations/

Just as we expected, the US 4th quarter GDP growth came out well at 2.1% but it was just an illusion because consumer spending declined significantly.

http://sg-stock.blogspot.com/2020/01/the-upcoming-us-gdp-will-be-better.html

WHO declares international emergency over Wuhan virus.

https://www.channelnewsasia.com/news/world/wuhan-virus-who-international-emergency-declare-12372372?cid=emarsys-cna_20200130_2359_FINAL+CNA+Mon+to+Sat+newsletter+%280740%29_newsletter_31012020_cna&sc_customer=8c11b763-c6a4-4499-a650-cf4c2c3d82d8&sc_src=email&sc_llid=47345&sc_lid=102252522&sc_uid=iU1UgaxgzQ

WHO declares an international emergency over Wuhan virus after we reported the lockdown in Hainan.  Hainan is so far away from Wuhan but it is in lockdown.  This shows that the virus situation is very bad in China.

http://sg-stock.blogspot.com/2020/01/the-real-coronavirus-situation-in-china.html

The real coronavirus situation in China.

The situation is very dire in China now.

I've just checked with my China relative from Hainan.  He told me that Hainan island was in lockdown as MRT and shops were mostly closed.

China has not reached the virus peak period yet and the situation will get worse before it gets better.

China's coronavirus has mutated.

https://www3.nhk.or.jp/nhkworld/en/news/20200130_37/

Japan has detected 3 cases of the new coronavirus without symptoms.

It will be harder to contain the new virus if there is no symptom because normal temperature screening at the customs won't be able to detect sick people.

Frasers Hospitality Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/01/19	Kim Eng	Frasers Hospitality Trust	0.735	0.8	Buy	DDM
02/01/19	DBS Vickers	Frasers Hospitality Trust	0.735	0.78	Buy
02/04/19	UOB Kay Hian	Frasers Hospitality Trust	0.74	0.82	Buy
05/03/19	Kim Eng	Frasers Hospitality Trust	0.745	0.85	Buy
05/03/19	DBS Vickers	Frasers Hospitality Trust	0.745	0.77	Hold	DCF
07/12/19	DBS Vickers	Frasers Hospitality Trust	0.72	0.77	Hold	DCF
10/09/19	DBS Vickers	Frasers Hospitality Trust	0.715	0.77	Hold
10/31/19	DBS Vickers	Frasers Hospitality Trust	0.735	0.78	Hold	DCF
11/01/19	Kim Eng	Frasers Hospitality Trust	0.735	0.8	Buy	DDM
01/28/20	DBS Vickers	Frasers Hospitality Trust	0.715	0.78	Hold	DCF

Frasers Commercial Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/18/19	DBS Vickers	Frasers Commercial Trust	1.47	1.7	Buy
01/21/19	OCBC	Frasers Commercial Trust	1.45	1.56	Buy
01/21/19	CIMB	Frasers Commercial Trust	1.45	1.5	Hold	DDM
01/21/19	Lim & Tan	Frasers Commercial Trust	1.45	0	Hold
03/18/19	DMG & Partners	Frasers Commercial Trust	1.47	1.5	Neutral
04/08/19	DBS Vickers	Frasers Commercial Trust	1.47	1.7	Buy
04/24/19	DMG & Partners	Frasers Commercial Trust	1.49	1.5	Neutral	DDM
04/24/19	OCBC	Frasers Commercial Trust	1.49	1.58	Buy
04/24/19	CIMB	Frasers Commercial Trust	1.49	1.5	Hold	DDM
06/06/19	DBS Vickers	Frasers Commercial Trust	1.51	1.7	Buy
06/26/19	OCBC	Frasers Commercial Trust	1.58	1.69	Buy
06/26/19	CIMB	Frasers Commercial Trust	1.58	1.64	Add	DDM
06/27/19	DMG & Partners	Frasers Commercial Trust	1.66	1.65	Neutral	DDM
07/04/19	DMG & Partners	Frasers Commercial Trust	1.68	1.65	Neutral
07/12/19	DBS Vickers	Frasers Commercial Trust	1.65	1.7	Hold	DCF
07/22/19	OCBC	Frasers Commercial Trust	1.64	1.7	Hold
10/04/19	DBS Vickers	Frasers Commercial Trust	1.6	1.7	Hold	DCF
10/23/19	DMG & Partners	Frasers Commercial Trust	1.64	1.65	Neutral	DDM
10/24/19	OCBC	Frasers Commercial Trust	1.65	1.76	Hold
10/24/19	CIMB	Frasers Commercial Trust	1.65	1.71	Add	DDM
12/03/19	DMG & Partners	Frasers Commercial Trust	1.71	1.68	Take Profit	PB1.05x
12/03/19	CIMB	Frasers Commercial Trust	1.71	1.71	Add

Frasers Centrepoint Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/17/19	Kim Eng	Frasers Centrepoint Trust	2.27	2.55	Buy	DDM
01/17/19	Citibank	Frasers Centrepoint Trust	2.27	2.23	Hold
01/22/19	Lim & Tan	Frasers Centrepoint Trust	2.26	0	Hold
01/22/19	OCBC	Frasers Centrepoint Trust	2.26	2.5	Buy
01/23/19	Phillip	Frasers Centrepoint Trust	2.27	2.21	Neutral	DDM, PB1.09x FY19
01/23/19	DBS Vickers	Frasers Centrepoint Trust	2.27	2.4	Buy
01/28/19	UOB Kay Hian	Frasers Centrepoint Trust	2.29	2.32	Buy
01/28/19	CIMB	Frasers Centrepoint Trust	2.29	2.35	Add	DDM
02/15/19	Phillip	Frasers Centrepoint Trust	2.24	2.21	Neutral
02/28/19	Kim Eng	Frasers Centrepoint Trust	2.3	2.55	Buy
03/01/19	OCBC	Frasers Centrepoint Trust	2.29	2.5	Buy
03/01/19	DBS Vickers	Frasers Centrepoint Trust	2.29	2.4	Buy	DCF
03/14/19	DBS Vickers	Frasers Centrepoint Trust	2.26	2.6	Buy
03/18/19	DMG & Partners	Frasers Centrepoint Trust	2.28	2.19	Neutral
04/03/19	DBS Vickers	Frasers Centrepoint Trust	2.38	2.6	Buy
04/04/19	Kim Eng	Frasers Centrepoint Trust	2.36	2.6	Buy
04/24/19	Lim & Tan	Frasers Centrepoint Trust	2.36	0	Buy
04/25/19	DMG & Partners	Frasers Centrepoint Trust	2.36	2.19	Neutral	DDM
04/25/19	OCBC	Frasers Centrepoint Trust	2.36	2.61	Buy	DDM
04/26/19	Phillip	Frasers Centrepoint Trust	2.37	2.31	Neutral	DDM
05/17/19	OCBC	Frasers Centrepoint Trust	2.45	2.61	Buy
05/17/19	DMG & Partners	Frasers Centrepoint Trust	2.45	2.25	Neutral
05/17/19	CIMB	Frasers Centrepoint Trust	2.45	2.55	Add	DDM
05/21/19	Kim Eng	Frasers Centrepoint Trust	2.4	2.6	Buy
05/23/19	UOB Kay Hian	Frasers Centrepoint Trust	2.41	2.71	Buy
05/24/19	Phillip	Frasers Centrepoint Trust	2.44	2.36	Neutral	DDM
06/06/19	DMG & Partners	Frasers Centrepoint Trust	2.52	2.25	Neutral
06/10/19	UOB Kay Hian	Frasers Centrepoint Trust	2.52	2.71	Buy
06/19/19	Phillip	Frasers Centrepoint Trust	2.61	2.36	Neutral
06/21/19	UOB Kay Hian	Frasers Centrepoint Trust	2.55	2.72	Buy
06/24/19	DBS Vickers	Frasers Centrepoint Trust	2.54	2.85	Buy
06/24/19	Amfrasers	Frasers Centrepoint Trust	2.54	2.33	Neutral	DDM
06/24/19	Citibank	Frasers Centrepoint Trust	2.54	2.43	Hold
06/25/19	Kim Eng	Frasers Centrepoint Trust	2.59	2.6	Buy
07/04/19	DMG & Partners	Frasers Centrepoint Trust	2.64	2.25	Neutral
07/12/19	DBS Vickers	Frasers Centrepoint Trust	2.64	2.95	Buy
07/16/19	UOB Kay Hian	Frasers Centrepoint Trust	2.62	2.72	Buy
07/22/19	Phillip	Frasers Centrepoint Trust	2.65	2.36	Neutral
07/24/19	UOB Kay Hian	Frasers Centrepoint Trust	2.65	2.66	Hold	DDM, Buy @ $2.42
07/24/19	Kim Eng	Frasers Centrepoint Trust	2.65	2.8	Buy	DDM
07/24/19	OCBC	Frasers Centrepoint Trust	2.65	2.69	Hold
07/24/19	CIMB	Frasers Centrepoint Trust	2.65	2.79	Add	DDM
07/24/19	Lim & Tan	Frasers Centrepoint Trust	2.65	0	Hold
07/26/19	Amfrasers	Frasers Centrepoint Trust	2.63	2.51	Neutral
07/29/19	Phillip	Frasers Centrepoint Trust	2.68	2.77	Accumulate	DDM
08/22/19	CIMB	Frasers Centrepoint Trust	2.68	2.79	Add
08/26/19	Phillip	Frasers Centrepoint Trust	2.68	2.77	Accumulate
08/30/19	CIMB	Frasers Centrepoint Trust	2.74	2.9	Add	DDM
08/30/19	DMG & Partners	Frasers Centrepoint Trust	2.74	2.55	Neutral	DDM
09/19/19	Kim Eng	Frasers Centrepoint Trust	2.7	2.8	Buy
09/24/19	Phillip	Frasers Centrepoint Trust	2.71	2.77	Accumulate
10/02/19	DBS Vickers	Frasers Centrepoint Trust	2.7	2.95	Buy
10/18/19	Phillip	Frasers Centrepoint Trust	2.77	2.77	Accumulate
10/24/19	DMG & Partners	Frasers Centrepoint Trust	2.72	2.55	Neutral	DDM
10/24/19	OCBC	Frasers Centrepoint Trust	2.72	2.75	Hold
10/24/19	UOB Kay Hian	Frasers Centrepoint Trust	2.72	3.05	Buy
10/24/19	Lim & Tan	Frasers Centrepoint Trust	2.72	0	Hold
10/25/19	Phillip	Frasers Centrepoint Trust	2.75	3.11	Accumulate	DDM
11/18/19	Citibank	Frasers Centrepoint Trust	2.72	3	Buy
11/25/19	Phillip	Frasers Centrepoint Trust	2.76	3.11	Accumulate
11/25/19	CIMB	Frasers Centrepoint Trust	2.76	2.89	Add
12/10/19	DMG & Partners	Frasers Centrepoint Trust	2.74	2.55	Neutral
12/16/19	Phillip	Frasers Centrepoint Trust	2.67	3.11	Buy
12/19/19	DBS Vickers	Frasers Centrepoint Trust	2.7	2.95	Buy
01/23/20	Kim Eng	Frasers Centrepoint Trust	2.8	2.85	Hold	DDM
01/23/20	Lim & Tan	Frasers Centrepoint Trust	2.8	0	Hold
01/23/20	UOB Kay Hian	Frasers Centrepoint Trust	2.8	3.05	Buy
01/24/20	DBS Vickers	Frasers Centrepoint Trust	2.86	2.95	Buy
01/29/20	Phillip	Frasers Centrepoint Trust	2.86	3.11	Accumulate	DDM

Stock calls for 30 January 2020

Date	Analyst	Company	Last	Target	Call	Valuation
01/30/20	DBS Vickers	ESR-Reit	0.555	0.48	Hold	DCF
01/30/20	Lim & Tan	First Reit	0.995	0	Buy on weakness
01/30/20	UOB Kay Hian	Netlink	1	1.05	Buy	DCF
01/30/20	DBS Vickers	Sabana	0.46	0.48	Hold	DCF
01/30/20	DMG & Partners	Starhill	0.71	0.76	Neutral	DDM
01/30/20	Kim Eng	Venture	16.14	18.23	Buy
01/30/20	UOB Kay Hian	Wilmar	3.99	4.75	Buy

The US FED kept its rates hold just as we had projected.

https://edition.cnn.com/2020/01/29/economy/federal-reserve-interest-rates-january-decision/index.html

Our FED's projection had materialized again.

http://sg-stock.blogspot.com/2020/01/what-will-fed-do-for-upcoming-meeting.html

Please read our analysis above to understand our methodology better.

Fortune Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/25/19	DBS Vickers	Fortune Reit	9.8	10.68	Buy
01/29/19	DBS Vickers	Fortune Reit	9.7	10.76	Buy
03/06/19	DBS Vickers	Fortune Reit	9.8	10.76	Buy
06/21/19	DBS Vickers	Fortune Reit	10.66	11.8	Buy	DDM

Food Empire - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/04/19	DMG & Partners	Food Empire	0.58	0.69	Buy
04/05/19	DMG & Partners	Food Empire	0.56	0.69	Buy
08/13/19	DMG & Partners	Food Empire	0.525	0.73	Buy	PER13x FY19
11/12/19	DMG & Partners	Food Empire	0.54	0.73	Buy
11/21/19	DMG & Partners	Food Empire	0.6	0.83	Buy	PER12x FY20
12/11/19	DMG & Partners	Food Empire	0.6	0.73	Buy
01/17/20	DMG & Partners	Food Empire	0.705	0.83	Buy	PER12x FY20

First Sponsor - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/22/19	DBS Vickers	First Sponsor	1.27	1.62	Buy	RNAV (35% discount)
07/26/19	DBS Vickers	First Sponsor	1.31	1.62	Buy	RNAV (35% discount)

Stock calls for 29 January 2020

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Date	Analyst	Company	Last	Target	Call	Valuation
01/29/20	Lim & Tan	Capitaland	3.7	0	Hold
01/29/20	Phillip	Frasers Centrepoint Trust	2.86	3.11	Accumulate	DDM
01/29/20	UOB Kay Hian	Parkway Life	3.6	3.78	Buy	DDM

What will the FED do for the upcoming meeting?

Let's analyze the 4 US interest rates to find out.

Iorr: 1.55% (Same as Dec 2019), Max limit is 1.75% as set by the US FED.

Effr: 1.55% (Same as Dec 2019)

Ioer: 1.55% (Same as Dec 2019)

On RRP: 1.45% (Same as Dec 2019), Min limit is 1.5% as set by the US FED.

Effr: 1.55%
Ioer: 1.55%

The Effr-Ioer spread is zero which means there is no monetary tightening condition.  However, the On RRP (1.45%) is below the minimum limit set by the US FED because of the repo market intervention.  Since the 4 US rates are the same as the previous month, we can project with the confidence that the US FED will stay put.

http://sg-stock.blogspot.com/2019/12/will-us-fed-cut-its-rates-in-december.html