Japfa - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/20/20	UOB Kay Hian	Japfa	0.64	0.8	Buy
01/31/20	CIMB	Japfa	0.56	0.69	Add
01/31/20	Kim Eng	Japfa	0.56	0.72	Buy
03/03/20	UOB Kay Hian	Japfa	0.59	0.88	Buy	Sum of parts
03/04/20	DBS Vickers	Japfa	0.575	0.84	Buy	Sum of parts, PER11x
04/16/20	CIMB	Japfa	0.51	0.95	Add	PER12x CY21
04/16/20	UOB Kay Hian	Japfa	0.51	0.9	Buy	Sum of parts
04/16/20	DBS Vickers	Japfa	0.51	0.84	Buy
05/18/20	UOB Kay Hian	Japfa	0.635	0.98	Buy	Sum of parts
05/18/20	DBS Vickers	Japfa	0.635	0.86	Buy	Sum of parts, PER10x FY21
06/30/20	DBS Vickers	Japfa	0.67	0.82	Buy	Sum of parts, PER10.5x FY21
08/03/20	UOB Kay Hian	Japfa	0.66	0.98	Buy	Sum of parts
08/03/20	DBS Vickers	Japfa	0.66	0.82	Buy	Sum of parts
08/03/20	CIMB	Japfa	0.66	0.96	Add
10/13/20	CIMB	Japfa	0.65	0.96	Add
11/02/20	UOB Kay Hian	Japfa	0.645	0.98	Buy	Sum of parts
11/02/20	DBS Vickers	Japfa	0.645	1.03	Buy	sum of parts, PER11.3x FY21
12/08/20	UOB Kay Hian	Japfa	0.805	1	Buy	Sum of parts
12/08/20	DBS Vickers	Japfa	0.805	1.03	Buy	sum of parts, PER11.3x FY21
12/10/20	CIMB	Japfa	0.825	1	Add

Stock calls for 21 January 2021

Date	Analyst	Company	Last	Target	Call	Valuation
01/21/21	Lim & Tan	Capitaland Integrated Commercial Trust	2.35	0	Hold
01/21/21	Jefferies	Capitaland Integrated Commercial Trust	2.35	2.55	Buy	DDM
01/21/21	Jefferies	City Developments	7.64	11	Buy
01/21/21	DBS Vickers	ESR-Reit	0.41	0.45	Buy	DCF
01/21/21	DMG & Partners	ESR-Reit	0.41	0.48	Buy
01/21/21	OCBC	ESR-Reit	0.41	0.47	Buy
01/21/21	UOB Kay Hian	SPH	1.22	1.22	Hold	Buy @ $1.05
01/21/21	UOB Kay Hian	ST Engineering	3.86	3.65	Hold	Buy @ $3.40-3.45
01/21/21	DBS Vickers	Wilmar	5.34	6.67	Buy	Sum of parts, PER21x FY21
01/21/21	Jefferies	Wing Tai	1.98	2.4	Buy

China has sanctioned 28 Americans including Mike Pence and Pompeo.

https://www.cnbc.com/2021/01/20/china-sanctions-pompeo-obrien-azar-and-other-trump-administration-officials.html

The China sanction is long overdue but it is just a symbolic move to show the world that China is no pushover.  The China sanction is not as serious as the US sanction because it doesn't prevent companies from doing business with these 28 Americans.  This means that these 28 Americans can still use Visa and Mastercards compared to the HK Chief Executive.

Let's not forget that Visa and Mastercards need licences to operate in China, HK and Macau, and China still can force them to ban these sanctioned Americans if necessary.

However, China's sanction will make Mike Pence and Pompeo lose their candidacies in the next US presidential election even when this sanction doesn't affect their daily lives.

Japan Foods - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/06/20	DMG & Partners	Japan Foods	0.35	0.35	Neutral	Sum of parts
06/16/20	DMG & Partners	Japan Foods	0.33	0.35	Neutral
07/22/20	DMG & Partners	Japan Foods	0.325	0.33	Neutral	Sum of parts
08/28/20	DMG & Partners	Japan Foods	0.33	0.33	Neutral

Ix Biopharma - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/02/20	Phillip	Ix Biopharma	0.235	0.455	Buy	DCF

ISOTeam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/28/20	DMG & Partners	ISOTeam	0.23	0.31	Buy	DCF
02/18/20	DMG & Partners	ISOTeam	0.22	0.31	Buy	DCF
03/23/20	DMG & Partners	ISOTeam	0.122	0.24	Buy	DCF, PER8.7x FY20
11/05/20	DMG & Partners	ISOTeam	0.147	0.21	Buy	PER11x FY21

Stock calls for 20 January 2021

Date	Analyst	Company	Last	Target	Call	Valuation
01/20/21	Lim & Tan	Avi-Tech	0.485	0	Take Profit
01/20/21	Macquarie	Capitaland	3.46	3.95	Outperform
01/20/21	Lim & Tan	Fu Yu	0.285	0	Take Profit
01/20/21	UOB Kay Hian	GHY	0.785	1.08	Buy	PB18.5x FY21
01/20/21	UOB Kay Hian	Ifast Corp	4.86	5.12	Hold	Buy @ $4.65
01/20/21	UOB Kay Hian	Oceanus	0.041	0	Not Rated
01/20/21	DMG & Partners	Sheng Siong	1.56	1.87	Buy
01/20/21	CIMB	SPH	1.21	1.31	Hold	Sum of parts
01/20/21	Macquarie	UOL	7.83	8.85	Outperform

Hot news! mRNA vaccines may cause non-stop body spasm!

I'm surprised that Pfizer and Moderna didn't document the body spasm as a side effect in their trials.  The Americans who took the vaccinations posted their own videos on FB to show the world what they had experienced.

This will definitely dissuade many Americans from taking the mRNA vaccinations.

What did Trump do for the US during his presidency?

Since Trump is stepping down soon, let's do a recap on his political achievements.

Well, there was no question that he did more harm than good for the US. The Americans who voted for him had to pay the price for their mistakes.

Unbeknownst to him, he created a losing US-China trade war for the Americans.

https://www.straitstimes.com/business/economy/how-china-won-trumps-trade-war-and-got-americans-to-foot-the-bill

Thus, USCBC is trying to persuade President Biden to change course by commissioning a study with oxford economics to prove that the US-China trade war harms the US.

https://www.reuters.com/article/us-usa-trade-china-jobs/us-china-trade-war-has-cost-up-to-245000-us-jobs-business-group-study-idUSKBN29J2O9

Trump also broke the US-EU relationship which caused the EU to lose faith in the US and also compelled the EU to reduce its reliance on the USD.

https://www.ft.com/content/20f39e33-e360-479e-82e2-5441d24f0e0b

This will greatly reduce the USD demand and make it harder for the US to raise debts to pay for its US$2.8T ($1.9T + $0.9T) stimulus package. The US has to print more USD to pay for its stimulus aids but doing so will exacerbate the USD depreciation. Moreover, Yellen doesn't want a weaker USD.

https://www.reuters.com/article/us-usa-biden-yellen/treasury-nominee-janet-yellen-to-say-us-does-not-seek-weaker-dollar-wsj-idUSKBN29M0O7

Therefore, the US interest rates will have to rise to attract USD demand but this is a conundrum for the US Fed because the US FED wants to maintain status quo until 2023.

The US FED and Treasury Secretary will have to work together to maintain US interest rates and USD but this will be a very difficult task. You cannot have the best of both worlds because US interest rates and USD are positively correlated.

Israel’s virus czar says 1st dose proving less effective than Pfizer indicated.

https://www.timesofisrael.com/liveblog_entry/virus-czar-says-1st-dose-less-effective-than-pfizer-suggested-report/

Many people got infected after getting their first shot but before getting their 2nd shot.  However, not much information is being released by this virus czar......I wonder why?

Let's see how Pfizer's vaccine will perform in the real world as we also order the same vaccine.