Stock calls for 25 February 2021

Date	Analyst	Company	Last	Target	Call	Valuation
02/25/21	DBS Vickers	APAC Realty	0.44	0.61	Buy	PER11.4x FY21
02/25/21	CIMB	APAC Realty	0.44	0.675	Add	DCF
02/25/21	CIMB	Capitaland	3.15	3.42	Add	RNAV
02/25/21	OCBC	Capitaland	3.15	3.79	Buy	RNAV (20% discount)
02/25/21	UOB Kay Hian	Capitaland	3.15	3.1	Hold
02/25/21	Macquarie	City Developments	7.33	8.2	Outperform	RNAV (40% discount)
02/25/21	CIMB	CSE Global	0.49	0.63	Add	PER12x CY22
02/25/21	DBS Vickers	CSE Global	0.49	0.64	Buy	PER9.9x
02/25/21	DBS Vickers	EC World Reit	0.72	0.8	Buy	DCF
02/25/21	Lim & Tan	Fu Yu	0.28	0	Hold
02/25/21	CIMB	Jiutian	0.096	0.135	Add	PER5.7x FY22
02/25/21	UOB Kay Hian	Koufu	0.665	0.77	Buy
02/25/21	DBS Vickers	Koufu	0.665	0.77	Buy	PER17x FY21
02/25/21	UOB Kay Hian	OCBC	10.85	14.68	Buy
02/25/21	DBS Vickers	OCBC	10.85	11.9	Buy	GGM, PB1.03x FY21
02/25/21	DMG & Partners	OCBC	10.85	12.5	Buy
02/25/21	Kim Eng	OCBC	10.85	12.74	Buy	DDM
02/25/21	Jefferies	OCBC	10.85	12.5	Buy
02/25/21	CIMB	OCBC	10.85	12.52	Add	GGM
02/25/21	phillip	Sembcorp Industries	1.62	1.77	Accumulate	PB0.85x FY21
02/25/21	DBS Vickers	Sheng Siong	1.57	1.77	Buy	PER25x FY21
02/25/21	DBS Vickers	UOB	23.88	26.8	Buy	GGM, PB1.04x FY21
02/25/21	Lim & Tan	UOB	23.88	0	Accumulate
02/25/21	UOB Kay Hian	Venture	19.48	23.76	Buy	PER19.4x FY21

What happened after G7 Summit?

http://sg-stock.blogspot.com/2021/02/the-g7-summit-was-non-event.html

The outcome of the G7 Summit showed that the world had changed and some smarter politicians had detected that.

UK PM Boris was the first to sense it because he proclaimed that he was a sinophile immediately after the G7 Summit.  Thereafter, India settled the India-China border issue with China by removing all its troops and also approving 45 China investments.

https://www.reuters.com/article/india-china-investment-idCNL4N2KN1HJ

However, Canada is very stupid not to notice this and still continues to smear China by accusing China of Xinjiang's genocide.

https://edition.cnn.com/2021/02/22/americas/canada-china-xinjiang-genocide-intl-hnk/index.html

Canada's allegation is totally false and invalid because we can debunk this false accusation by looking at Xinjiang's population growth.

https://www.globaltimes.cn/page/202101/1212073.shtml

A genocide will show a decrease in population and also its growth but Xinjiang exhibits the exact opposite signs of genocide.

Canada's smearing has prompted China to denounce Canada for being anti-China.

https://www.cbc.ca/news/politics/china-response-uighur-genocide-motion-1.5924222

From this false allegation by Canada, we can see that Canada is neither a rule of law nor a rule by law country.

Shame on you, Canada!

Why did US FED say the unemployment rate was more likely to be 10% instead of the official 6.3%?

https://www.nytimes.com/2021/02/22/business/economy/unemployment-rate-covid.html

We had already explained the paradox of the unemployment rate below.

http://sg-stock.blogspot.com/2017/08/economic-101-dont-let-unemployment-rate.html

Therefore, we always tell our viewers not to look at the headline number per se but to look at the details (sub-components) because the devil always lies in the details.

The real purpose of a digital Renminbi (E-CNY).

There are tell-tale signs from China's actions that we can garner to determine the real intention of the E-CNY.  The real intention is not to supersede the USD because a currency per se is incapable to do that as shown by the Euro developments.  Euro has not yet superseded the USD after so many years.  In order to replace the USD as the reserve currency, a holistic approach must be taken.  Let's not delve into that now.

Conversely, the EU and China are trying to reduce their reliance on USD because they don't want to be held hostage by a single currency.  No country will want to be held hostage by a communist currency either.  Therefore, it is very difficult for CNY to replace USD.

http://sg-stock.blogspot.com/2021/01/what-did-trump-do-for-us-during-his.html

What actions has China done insofar?

China has partnered with SWIFT to work on its digital currency.

https://www.coindesk.com/chinas-central-bank-is-partnering-with-swift-on-a-new-joint-venture

China has also partnered with other nations to work on cross-border payments using CBDCs.

https://finance.yahoo.com/news/central-banks-china-uae-join-155435796.html

All the Chinese actions are showing that it is trying to create a non-USD financial system so that the US cannot do any financial sanction against China.  This is of great strategic importance to China, particularly in the reunification of Taiwan by military force.

The EU, US and China know that the US will lose in a South China Sea (SCS) war.  

http://sg-stock.blogspot.com/2020/07/whats-my-take-on-possible-us-china.html

Therefore, the only leverage that the US can use against China is to impose a USD ban to thwart and cripple China's overseas banking and financial businesses.  This is Achille's heel of China and we can see it in HK when the Chief Executive is sanctioned by the US and China cannot help her at all.

Once China has created a non-USD financial system, China will be emboldened to have a military face-off with the US in SCS.

Comparative side effects between BioNtech and Sinovac vaccines.

I hope my viewers will benefit from these comparative side effects so that they can make the best choice for themselves.

Sunpower - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/02/20	UOB Kay Hian	Sunpower	0.525	0.88	Buy	Sum of parts
03/03/20	DBS Vickers	Sunpower	0.53	0.84	Buy
03/10/20	Amfrasers	Sunpower	0.47	0.91	outperform	Sum of parts
04/20/20	DBS Vickers	Sunpower	0.425	0.49	Hold	DCF
05/18/20	Amfrasers	Sunpower	0.43	0.91	Buy	Sum of parts
05/18/20	DBS Vickers	Sunpower	0.43	0.49	Hold	DCF
05/20/20	UOB Kay Hian	Sunpower	0.445	0.88	Buy
08/14/20	DBS Vickers	Sunpower	0.58	0.69	Buy	DCF
08/14/20	UOB Kay Hian	Sunpower	0.58	0.92	Buy	Sum of parts
08/17/20	Amfrasers	Sunpower	0.575	0.91	outperform	Sum of parts
11/16/20	DBS Vickers	Sunpower	0.62	0.76	Buy	DCF
11/17/20	UOB Kay Hian	Sunpower	0.625	0.92	Buy	Sum of parts
11/18/20	Amfrasers	Sunpower	0.64	0.91	outperform	Sum of parts
01/07/21	UOB Kay Hian	Sunpower	0.775	1.1	Buy
01/12/21	Amfrasers	Sunpower	0.855	1.45	outperform	DCF
01/12/21	DBS Vickers	Sunpower	0.855	0.94	Buy	DCF

Sunningdale - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/02/20	UOB Kay Hian	Sunningdale	1.21	1.06	Hold	Buy @ $1
03/04/20	CIMB	Sunningdale	1.2	1.1	Hold
03/20/20	Lim & Tan	Sunningdale	0.82	0	Buy
04/09/20	CIMB	Sunningdale	0.875	1.09	Add
05/08/20	UOB Kay Hian	Sunningdale	0.98	1.02	Hold	PB0.54x FY20, Buy @ $0.90
05/08/20	CIMB	Sunningdale	0.98	0.917	Hold
05/11/20	Lim & Tan	Sunningdale	1	0	Hold
08/11/20	Lim & Tan	Sunningdale	1.18	0	Buy
09/10/20	Lim & Tan	Sunningdale	1.25	0	Buy
10/08/20	Lim & Tan	Sunningdale	1.53	0	Buy
11/10/20	CIMB	Sunningdale	1.68	1.55	Hold	PB0.77x
11/10/20	Lim & Tan	Sunningdale	1.68	0	Reject offer	$1.55 offer