Bukit Sembawang - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/02/21	Lim & Tan	Bukit Sembawang	4.12	5.57	Buy	RNAV
04/22/21	DBS Vickers	Bukit Sembawang	4.67	5.44	Buy
05/27/21	Lim & Tan	Bukit Sembawang	4.61	5.57	Buy	RNAV
06/08/21	DBS Vickers	Bukit Sembawang	4.95	5.44	Buy
06/10/21	DBS Vickers	Bukit Sembawang	5.16	5.92	Buy	RNAV (45% discount)
06/25/21	Lim & Tan	Bukit Sembawang	5.22	6	Buy	RNAV (58% disc)
07/06/21	Lim & Tan	Bukit Sembawang	5.26	6	Buy	RNAV (58% disc)
10/01/21	DBS Vickers	Bukit Sembawang	4.84	5.92	Buy
11/16/21	Lim & Tan	Bukit Sembawang	5.14	5.92	Accumulate

BRC Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/05/21	UOB Kay Hian	BRC Asia	1.6	2	Buy
02/08/21	Lim & Tan	BRC Asia	1.59	1.9	Accumulate
02/22/21	Phillip	BRC Asia	1.59	1.87	Buy	PER11x FY21
03/11/21	CIMB	BRC Asia	1.58	1.9	Add	PB1.57x FY21
05/11/21	UOB Kay Hian	BRC Asia	1.54	2	Buy
05/12/21	Phillip	BRC Asia	1.54	1.87	Buy	PER11x FY21
06/24/21	Lim & Tan	BRC Asia	1.48	1.9	Accumulate
08/06/21	CIMB	BRC Asia	1.46	1.9	Add
08/06/21	Lim & Tan	BRC Asia	1.46	1.9	Accumulate
08/11/21	UOB Kay Hian	BRC Asia	1.51	2	Buy
08/30/21	Phillip	BRC Asia	1.52	1.79	Buy	PER11x FY22
09/21/21	UOB Kay Hian	BRC Asia	1.48	1.76	Buy

Stock calls for 30 November 2021

Date	Analyst	Company	Last	Target	Call	Valuation
11/30/21	DBS Vickers	Keppel Reit	1.11	1.4	Buy
11/30/21	Lim & Tan	Keppel Reit	1.11	0	Hold
11/30/21	DMG & Partners	Singtel	2.41	3.37	Buy
11/30/21	SAC Capital	ST Group Food	0.15	0.26	Buy	DCF
11/30/21	UOB Kay Hian	Yangzijiang	1.3	2	Buy

The world economic conditions have deteriorated further. - Part 3

https://sg.finance.yahoo.com/news/china-factory-activity-edges-november-015502713.html

China manufacturing PMI has rebounded to 50.1 in November which is in the expansion territory.  This was just what we had expected in our previous projection.

http://sg-stock.blogspot.com/2021/11/the-world-economic-conditions-have.html

"Furthermore, China's GDP has also declined to 4.9% but we believe that this figure will be the trough for China since its GDP growth will rebound in Q4 due to the upcoming festive season (CNY)."

We continue to have our optimism as the manufacturing sector has to meet consumer demands for the upcoming CNY festival.

If you would like to know the relationship between PMI and GDP, please read our previous post below.

http://sg-stock.blogspot.com/2019/04/the-us-economy-has-flipped-and-fissures.html

Boustead Projects - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/21	CIMB	Boustead Projects	0.805	1.33	Add	RNAV (30% discount)
05/27/21	CIMB	Boustead Projects	1.11	1.4	Add
11/16/21	CIMB	Boustead Projects	0.99	1.4	Add

Boustead - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/18/21	CIMB	Boustead	0.905	1.4	Add	Sum of parts
06/01/21	CIMB	Boustead	1.22	1.4	Add	Sum of parts (20% discount)
11/16/21	CIMB	Boustead	1.02	1.4	Add	Sum of parts (20% discount)

BHG Retail - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/30/21	DBS Vickers	BHG Retail	0.55	0.6	Buy	DCF
08/30/21	DBS Vickers	BHG Retail	0.58	0.57	Hold