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Monday, February 22, 2021

Stock calls for 22 February 2021

Date

Analyst

Company

Last

Target

Call

Valuation

02/22/21

Phillip

BRC Asia

1.59

1.87

Buy

PER11x FY21

02/22/21

Lim & Tan

Bumitama

0.54

0

Accumulate


02/22/21

phillip

Comfortdelgro

1.58

1.83

Buy

DCF

02/22/21

phillip

Dasin Retail

0.73

0.91

Accumulate


02/22/21

Phillip

First Ship Lease Trust

0.085

0.105

Buy

PB1x FY22

02/22/21

Phillip

Frasers Centrepoint Trust

2.52

2.93

Buy


02/22/21

Phillip

Ireit

0.645

0.68

Accumulate


02/22/21

DBS Vickers

MM2 Asia

0.083

0.089

Hold

Sum of parts

02/22/21

phillip

Prime US Reit

0.825

0.94

Buy


02/22/21

Lim & Tan

Raffles Medical

0.985

0

Hold


02/22/21

UOB Kay Hian

ST Engineering

3.75

4

Buy


02/22/21

OCBC

ST Engineering

3.75

4.3

Buy


02/22/21

DMG & Partners

ST Engineering

3.75

4.25

Buy


02/22/21

CIMB

ST Engineering

3.75

4

Add


02/22/21

DBS Vickers

Straits Trading

2.77

3.9

Buy

Sum of parts (40% discount)

02/22/21

Phillip

Starhub

1.28

1.24

Neutral

Ev/Ebitda 6x

02/22/21

UOB Kay Hian

Starhub

1.28

1.35

Hold


02/22/21

DMG & Partners

Starhub

1.28

1.38

Neutral


Sunday, February 21, 2021

Will the Quad Alliance (QA) have any impact?

Before we can comment on this Quad Alliance (QA), we need to first know the countries involved in this alliance. The QA comprises the US, Australia, Japan and India. However, the QA will have lesser influence because it is much smaller than the Indo-Pacific Alliance (IPA).

Therefore, the QA will not be able to do much except to make some noise. What can the QA do that the IPA cannot accomplish? Nothing! The IPA which is much bigger than the QA also cannot do much because it has many weak links.

Let's try to understand the IPA now.

The US established the IPA without any careful consideration about the internal conflicts amongst its alliance members.  For a start, the IPA will embolden India to take a tougher stance against its neighbours such as Pakistan and China and this will force Pakistan to strike closer strategic relationships with China and Russia.  Thus, this IPA will diminish India's neighbouring relationships.  We can see this outcome from the recent incident below.

https://www.businesstoday.in/current/economy-politics/sri-lanka-scraps-port-deal-as-indian-firm-rejected-terms/story/431179.html

Let's not forget that India is buying a lot of Russian weapons and it doesn't want to see a cozy relationship between Pakistan and Russia.

Japan is also part of this IPA and it has historical feuds with the IPA's 2nd tier member (South Korea).  Historical feuds (WW2 issues) are difficult to resolve and these will disrupt any cooperation between Japan and South Korea.  We can see this from the recent SK defence whitepaper publication that downgraded the SK-JP status below.

http://english.hani.co.kr/arti/english_edition/e_international/981657.html

Furthermore, Japan has a Kuril Islands dispute with Russia.  Therefore, Japan doesn't want to jeopardize JP-Ru relationship further with any potential IPA conflict with Russia.

http://sg-stock.blogspot.com/2019/07/putin-rejected-abes-request-in-g20.html

Australia is a member of RCEP and will be ostracized if it uses IPA or QA to contain China.  Thus, Australia is stuck in a fissure and is facing a conundrum.

As we can see, the IPA has many weak links and it won't be able to function properly.  Needless to say, the QA cannot do anything too.

Friday, February 19, 2021

SPH Reit - Stock calls

Date

Analyst

Company

Last

Target

Call

Valuation

01/13/20

Kim Eng

SPH Reit

1.08

1.15

Buy

DDM

01/13/20

OCBC

SPH Reit

1.08

1.13

Hold


01/13/20

Lim & Tan

SPH Reit

1.08

0

Buy on weakness


01/13/20

CIMB

SPH Reit

1.08

1.16

Add


01/13/20

DBS Vickers

SPH Reit

1.08

1.2

Buy


03/17/20

Kim Eng

SPH Reit

0.87

1.15

Buy


03/17/20

OCBC

SPH Reit

0.87

0.77

Hold


04/02/20

DBS Vickers

SPH Reit

0.75

0.7

Fully Valued


04/02/20

Kim Eng

SPH Reit

0.75

0.8

Hold

DDM

04/02/20

CIMB

SPH Reit

0.75

1.12

Add


05/29/20

DBS Vickers

SPH Reit

0.825

0.8

Hold


05/29/20

CIMB

SPH Reit

0.825

1.13

Add


06/03/20

DBS Vickers

SPH Reit

0.88

0.8

Hold


07/03/20

Kim Eng

SPH Reit

0.885

0.8

Hold

DDM

07/03/20

Lim & Tan

SPH Reit

0.885

0

Hold


07/06/20

CIMB

SPH Reit

0.875

1.1

Add


07/06/20

OCBC

SPH Reit

0.875

0.81

Hold


09/11/20

DBS Vickers

SPH Reit

0.885

0.8

Hold


10/07/20

CIMB

SPH Reit

0.885

1.07

Add

DDM

10/07/20

Lim & Tan

SPH Reit

0.885

0

Hold


10/07/20

DBS Vickers

SPH Reit

0.885

0.8

Hold


10/07/20

OCBC

SPH Reit

0.885

0.82

Hold


01/15/21

Kim Eng

SPH Reit

0.86

0.8

Hold

DDM

01/18/21

CIMB

SPH Reit

0.87

1.06

Add


01/18/21

OCBC

SPH Reit

0.87

0.88

Hold


02/02/21

DBS Vickers

SPH Reit

0.83

0.8

Hold