Stock calls for 5 May 2021

Date	Analyst	Company	Last	Target	Call	Valuation
05/05/21	CIMB	AEM	3.79	4.63	Add
05/05/21	DBS Vickers	AEM	3.79	4.73	Buy	PER13.7x FY21
05/05/21	CIMB	Keppel Corp	5.33	6.4	Add
05/05/21	DBS Vickers	Sembcorp Marine	0.2	0.2	Hold	PB0.7x
05/05/21	Lim & Tan	Starhub	1.3	0	Hold
05/05/21	DBS Vickers	Starhub	1.3	1.12	Fully Valued	DCF
05/05/21	DBS Vickers	Tuan Sing	0.405	0.54	Buy	Sum of parts
05/05/21	CIMB	Venture	19.53	22.51	Add	PER17.1x FY22

US ISM PMI declined to 60.7 in April 2021.

 

The prices had accelerated again to 89.6(+4) because of the persistent high freight costs, container shortages and rising material prices which still maintained the supplier’s deliveries at a high level of 75 as a higher number indicated slower deliveries.  Simultaneously, these factors impacted inventories (45.6, -4.3) and import (52.2, - 4.5) too.

Consequently, the producers were left with no choice but to reduce their production (62.5, -5.6) and employment (55.1, -4.5).  The customers’ inventories (28.4, - 1.5) continued to be depleted as the producers fulfilled fewer new orders (64.3, -3.7) which were caused by a decline in new local order (-4.1) because of rising prices.  This denoted higher inflation which was present and caused consumers to rein in their spendings.

The backlog of order continued to trend higher (68.2, +0.7) because the producers couldn’t fulfill all the orders in time.  Therefore, all these caused the PMI to decline to 60.7 (-4).  This latest PMI was not a cause of concern yet as the customers’ inventories were extremely low but another month of declining PMI would indicate that the recovery would be weakening due to higher inflation.

Sasseur - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/15/20	UOB Kay Hian	Sasseur	0.72	0.96	Buy	DDM
06/03/20	DBS Vickers	Sasseur	0.8	0.8	Buy
06/11/20	Amfrasers	Sasseur	0.795	0.89	Outperform	DDM
08/17/20	UOB Kay Hian	Sasseur	0.775	0.99	Buy	DDM
08/18/20	CIMB	Sasseur	0.78	0.84	Add
10/12/20	Amfrasers	Sasseur	0.785	0.89	Outperform
11/16/20	DBS Vickers	Sasseur	0.795	0.9	Buy	DCF
11/19/20	CIMB	Sasseur	0.795	0.845	Add
11/19/20	Kim Eng	Sasseur	0.795	1	Buy
11/19/20	Amfrasers	Sasseur	0.795	0.89	Outperform	DDM
03/01/21	Kim Eng	Sasseur	0.84	1.05	Buy	DDM
03/02/21	CIMB	Sasseur	0.86	0.909	Add

Samudera - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/21	Lim & Tan	Samudera	0.28	0.49	Buy	PB1x FY21

Sabana - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/17/20	DBS Vickers	Sabana	0.36	0.4	Buy	PB0.94x ESR-Reit
01/22/21	Lim & Tan	Sabana	0.375	0	Accumulate
01/25/21	DBS Vickers	Sabana	0.395	0.45	Buy	DCF

Stock calls for 4 May 2021

Date	Analyst	Company	Last	Target	Call	Valuation
05/04/21	Lim & Tan	AEM	4.08	0	Take Profit
05/04/21	UOB Kay Hian	Far East Hospitality	0.61	0.72	Buy	DDM
05/04/21	DBS Vickers	Frasers Hospitality Trust	0.54	0.65	Buy	DCF
05/04/21	DMG & Partners	Golden Agri	0.25	0.3	Trading Buy
05/04/21	DBS Vickers	Mapletree Industrial	2.81	3.25	Buy
05/04/21	UOB Kay Hian	Sembcorp Marine	0.205	0.18	Hold	PB0.7x
05/04/21	CIMB	Sembcorp Marine	0.205	0.226	Hold
05/04/21	CIMB	Wilmar	5.01	6.15	Add
05/04/21	OCBC	Wilmar	5.01	6.21	Buy
05/04/21	DMG & Partners	Wilmar	5.01	6.45	Buy
05/04/21	DBS Vickers	Yangzijiang	1.47	1.8	Buy	Sum of parts
05/04/21	CIMB	Yangzijiang	1.47	1.63	Add