Stock calls for 11 January 2021

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/21	UOB Kay Hian	Far East Hospitality	0.62	0.74	Buy
01/11/21	UOB Kay Hian	First Resources	1.49	1.75	Buy	PER12x FY21
01/11/21	UOB Kay Hian	Frasers Centrepoint Trust	2.57	3.15	Buy	DDM
01/11/21	UOB Kay Hian	Lendlease Reit	0.775	0.97	Buy
01/11/21	UOB Kay Hian	OCBC	10.73	13.48	Buy	GGM, PB1.19x FY21
01/11/21	DBS Vickers	Riverstone	1.35	1.85	Buy	PER12.8x FY21/22
01/11/21	UOB Kay Hian	Riverstone	1.35	2.99	Buy	PER15.9x FY21
01/11/21	UOB Kay Hian	Singapore Medical	0.33	0.46	Buy	Up from $0.37
01/11/21	UOB Kay Hian	Singtel	2.46	2.8	Buy	DCF
01/11/21	UOB Kay Hian	Suntec Reit	1.51	1.75	Buy
01/11/21	CIMB	Top Glove	2.11	2.93	Add	PER16x CY22
01/11/21	UOB Kay Hian	United Hamspire	0.645	0.92	Buy

The US and UK hospitals are running out of beds!

https://sg.finance.yahoo.com/news/coronavirus-crisis-covid-19-austin-hospital-icu-vaccine-142903794.html

https://www.irishtimes.com/news/world/uk/coronavirus-london-hospitals-set-to-run-out-of-beds-in-a-fortnight-1.4452701

The US and UK hospitals are running out of beds because of the massive spikes in covid infections and many operations have to be delayed.  Furthermore, it is expected that the new 3 infectious variants will overtake their predecessors to become the dominant viruses across the globe.  These 3 variants will stress the global healthcare system because they target younger people.

God bless us all!

Pharmaceutical companies will make false claims just to sell their drugs.

Let's take a look at some examples.

https://www.cbsnews.com/news/covid-vaccine-last-years-moderna-ceo/

Moderna CEO proclaimed that his covid vaccine may last for years without any concrete proof.  However, scientific research showed otherwise and Moderna had only a small research size.

https://www.forbes.com/sites/williamhaseltine/2020/12/22/the-moderna-vaccines-antibodies-may-not-last-as-long-as-we-hoped/?sh=680bcbd45674

The Imperil college research also showed that covid antibodies only lasted a few months and we had stated this on numerous postings too.

https://www.healthline.com/health-news/new-evidence-that-coronavirus-antibodies-only-last-a-few-months

http://sg-stock.blogspot.com/2020/12/modernas-vaccination-can-last-at-least.html

Gilead also made some false claims about its drug that WHO disputed after its scientific review.

https://www.reuters.com/article/health-coronavirus-remdesivir/who-study-says-remdesivir-did-not-reduce-mortality-in-covid-19-patients-ft-idINL4N2H63XG.

Omg! Another covid variant is detected!

https://www.channelnewsasia.com/news/asia/new-coronavirus-variant-found-in-travellers-from-brazil--japan-government-13931378

This is the 3rd variant being detected in a very short span of time.  This brazil variant is different from the UK and South African variants.

It looks like the covid virus is mutating faster now.

Wow! Taiwan was involved in the white house's invasion!

 A picture can tell a thousand words.

I knew that Taiwan was a staunch pro-Trump supporter but I’ve never expected Taiwan to back Trump up by involving in the white house’s invasion.  The white house rioter brandished a big Taiwan's flag during the invasion to show Taiwan’s support for Trump.

Baltic dry index - 1606

 Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count (week) - 360

 Related stock: Keppel Corp, Sembcorp Marine & Cosco.

Fu Yu - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/20	DMG & Partners	Fu Yu	0.255	0.27	Buy
01/15/20	DBS Vickers	Fu Yu	0.25	0.35	Buy	PER16x FY20
01/15/20	DMG & Partners	Fu Yu	0.25	0.29	Buy	DCF
02/26/20	UOB Kay Hian	Fu Yu	0.26	0.3	Buy
02/26/20	DBS Vickers	Fu Yu	0.26	0.35	Buy	PER11.8x FY20
02/27/20	Lim & Tan	Fu Yu	0.25	0	Hold
02/28/20	DMG & Partners	Fu Yu	0.25	0.32	Buy	DCF
03/16/20	DMG & Partners	Fu Yu	0.2	0.32	Buy	DCF
04/01/20	DBS Vickers	Fu Yu	0.198	0.21	Hold
04/06/20	CIMB	Fu Yu	0.196	0.21	Add
04/07/20	DMG & Partners	Fu Yu	0.199	0.32	Buy
04/13/20	DMG & Partners	Fu Yu	0.215	0.28	Buy	DCF
05/13/20	DBS Vickers	Fu Yu	0.22	0.21	Hold	PER13.6x FY20
05/13/20	Lim & Tan	Fu Yu	0.22	0	Buy on weakness
05/14/20	CIMB	Fu Yu	0.22	0.21	Hold
05/15/20	UOB Kay Hian	Fu Yu	0.22	0.25	Buy	PER12.4x FY20
06/16/20	DMG & Partners	Fu Yu	0.23	0.28	Buy	DCF
06/24/20	Lim & Tan	Fu Yu	0.24	0	Buy
07/03/20	DMG & Partners	Fu Yu	0.235	0.28	Buy
08/17/20	DMG & Partners	Fu Yu	0.24	0.3	Buy	DCF
08/17/20	DBS Vickers	Fu Yu	0.24	0.27	Hold	PER12.6x FY21
08/17/20	Lim & Tan	Fu Yu	0.24	0	Buy
08/18/20	UOB Kay Hian	Fu Yu	0.245	0.29	Buy
09/14/20	CIMB	Fu Yu	0.24	0.24	Hold	GGM, PB1.1x
11/12/20	DBS Vickers	Fu Yu	0.235	0.31	Buy
11/16/20	DMG & Partners	Fu Yu	0.245	0.3	Buy
11/16/20	CIMB	Fu Yu	0.245	0.288	Add
12/28/20	DMG & Partners	Fu Yu	0.255	0.3	Buy

Frencken - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/24/20	DBS Vickers	Frencken	0.91	1.06	Buy	PER10x FY20
02/28/20	DBS Vickers	Frencken	0.865	1.06	Buy	PER10x FY20
02/28/20	Amfrasers	Frencken	0.865	1.01	outperform
03/02/20	CIMB	Frencken	0.83	1.06	Add
03/09/20	DMG & Partners	Frencken	0.83	1.05	Buy	DCF
03/10/20	Amfrasers	Frencken	0.75	1.01	outperform	PER10x FY20
04/02/20	DBS Vickers	Frencken	0.565	0.74	Buy
04/15/20	DMG & Partners	Frencken	0.71	0.9	Buy	DCF
05/15/20	DBS Vickers	Frencken	0.82	0.92	Buy	PER10.4x FY20
06/02/20	Amfrasers	Frencken	0.81	1.01	outperform	PER10x FY20
06/22/20	UOB Kay Hian	Frencken	0.86	1.15	Buy
07/01/20	DBS Vickers	Frencken	0.88	1.02	Buy	PER10.4x FY21
07/03/20	DMG & Partners	Frencken	0.91	0.9	Buy
07/13/20	Kim Eng	Frencken	0.915	1.2	Buy	Roe-g/Coe-g, PB1.6x FY20
08/11/20	Kim Eng	Frencken	1.15	1.2	Buy
08/14/20	UOB Kay Hian	Frencken	1.24	1.37	Buy
08/14/20	DBS Vickers	Frencken	1.24	1.43	Buy	PER13.2x FY21
08/14/20	CIMB	Frencken	1.24	1.06	Reduce
08/17/20	Amfrasers	Frencken	1.04	1.21	outperform	PER12x FY21
08/20/20	Kim Eng	Frencken	0.98	1.33	Buy	PB1.6x FY21
08/24/20	Lim & Tan	Frencken	0.96	1.26	Accumulate
08/31/20	CIMB	Frencken	0.94	1.06	Add	PER10x FY21
08/31/20	DMG & Partners	Frencken	0.94	1.16	Buy
09/01/20	UOB Kay Hian	Frencken	0.94	1.37	Buy
09/07/20	DBS Vickers	Frencken	1	1.43	Buy
09/30/20	Kim Eng	Frencken	0.96	1.33	Buy
10/15/20	DMG & Partners	Frencken	1.07	1.16	Buy	DCF
10/15/20	CIMB	Frencken	1.07	1.25	Add
11/13/20	Lim & Tan	Frencken	0.97	0	Buy
11/13/20	DMG & Partners	Frencken	0.97	1.22	Buy
11/13/20	CIMB	Frencken	0.97	1.27	Add
11/13/20	Kim Eng	Frencken	0.97	1.39	Buy	PB1.6x FY21
11/13/20	DBS Vickers	Frencken	0.97	1.51	Buy	PER13.2x FY21
11/17/20	UOB Kay Hian	Frencken	1.05	1.42	Buy
12/23/20	Kim Eng	Frencken	1.2	1.39	Buy	PB1.6x FY21
12/23/20	CIMB	Frencken	1.2	1.39	Add
12/24/20	DMG & Partners	Frencken	1.24	1.37	Buy
01/06/21	DBS Vickers	Frencken	1.32	1.51	Buy

Frasers Property - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/14/20	DBS Vickers	Frasers Property	1.19	1.7	Buy	RNAV (50% discount)
05/14/20	CIMB	Frasers Property	1.19	1.7	Add	RNAV (45% discount)
07/30/20	DBS Vickers	Frasers Property	1.18	1.7	Buy
08/06/20	DBS Vickers	Frasers Property	1.17	1.7	Buy	RNAV (50% discount)
08/12/20	CIMB	Frasers Property	1.19	1.7	Add
09/07/20	CIMB	Frasers Property	1.17	1.7	Add
11/11/20	Lim & Tan	Frasers Property	1.14	0	Accumulate
11/12/20	CIMB	Frasers Property	1.15	1.7	Add

Stock calls for 8 January 2021

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/21	CIMB	Dairy Farm	4.27	5.5	Add	PER22x FY21
01/08/21	Lim & Tan	Sembcorp Industries	1.77	0	Neutral

It is a beautiful sight to behold the true democracy at work in the white house's invasion.

The US government had shown the world that a government must act tough against rioters because it used real bullets and not rubber bullets for its first response.

No wonder the western world criticized HK police for using rubber bullets to wound the rioters because HK should use real bullets instead.

The US has taught the world the true meaning of democracy because a government can kill at will to defend its democratic value.

No wonder HK is not a democratic entity in the eyes of the western world because it doesn't defend its democratic value by allowing the rioters to invade its parliamentary house.

We must give thanks to the US for teaching us true democracy.  It is indeed a beautiful sight to behold the process of true democracy.

The US risk-free rate has breached 1%.

The US 10-year yield (risk-free) has breached 1% and is expected to reach 2% in 2021.  The US FED had stated clearly that it won't raise its rates until 2023.

http://sg-stock.blogspot.com/2020/09/the-us-fed-is-expected-to-remain-on_17.html

If the US continues to print USD and doesn't raise interest rates, there will be runaway inflation in the US by 2023.

Let's see how this will pan out.

The US inflation is coming - Part 6

The US will face rising inflation in 2021 because of a confluence of factors.

Let's take a look at these factors.

The oil price has been rising and is above US$50 now.

The USD index has been declining which is making imports more expensive.

The PMI prices and freight costs have been rising and this will impact PPI and CPI in the foreseeable future.

http://sg-stock.blogspot.com/2021/01/the-us-ism-pmi-improved-to-607-in.html

Frasers Logistics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/10/20	OCBC	Frasers Logistics	1.27	1.37	Hold
02/10/20	CIMB	Frasers Logistics	1.27	1.32	Add
05/04/20	CIMB	Frasers Logistics	1.06	1.3	Add
06/02/20	DBS Vickers	Frasers Logistics	1.15	1.4	Buy
07/03/20	DBS Vickers	Frasers Logistics	1.21	1.4	Buy
07/14/20	CIMB	Frasers Logistics	1.23	1.43	Add	DDM
08/05/20	DBS Vickers	Frasers Logistics	1.37	1.6	Buy	DCF
08/05/20	CIMB	Frasers Logistics	1.37	1.43	Add
08/05/20	Lim & Tan	Frasers Logistics	1.37	0	Hold
08/19/20	Macquarie	Frasers Logistics	1.39	1.6	outperform
08/24/20	OCBC	Frasers Logistics	1.38	1.59	Buy
09/02/20	DBS Vickers	Frasers Logistics	1.36	1.6	Buy	DCF
09/28/20	DBS Vickers	Frasers Logistics	1.42	1.85	Buy	DCF
10/16/20	OCBC	Frasers Logistics	1.4	1.59	Buy
11/09/20	CIMB	Frasers Logistics	1.33	1.5	Add	DDM
11/09/20	DBS Vickers	Frasers Logistics	1.33	1.85	Buy	DCF
11/17/20	OCBC	Frasers Logistics	1.28	1.59	Buy

Frasers Hospitality Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/28/20	DBS Vickers	Frasers Hospitality Trust	0.715	0.78	Hold	DCF
02/17/20	Kim Eng	Frasers Hospitality Trust	0.69	0.8	Buy
04/21/20	DBS Vickers	Frasers Hospitality Trust	0.5	0.65	Buy
05/12/20	DBS Vickers	Frasers Hospitality Trust	0.475	0.65	Buy	PB0.9x
07/17/20	UOB Kay Hian	Frasers Hospitality Trust	0.47	0.58	Buy	DDM
08/11/20	Kim Eng	Frasers Hospitality Trust	0.43	0.45	Hold
08/26/20	UOB Kay Hian	Frasers Hospitality Trust	0.44	0.54	Buy
11/03/20	UOB Kay Hian	Frasers Hospitality Trust	0.4	0.55	Buy	DDM
11/26/20	DBS Vickers	Frasers Hospitality Trust	0.475	0.7	Buy	DCF

Frasers Centrepoint Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/20	Kim Eng	Frasers Centrepoint Trust	2.8	2.85	Hold	DDM
01/23/20	Lim & Tan	Frasers Centrepoint Trust	2.8	0	Hold
01/23/20	UOB Kay Hian	Frasers Centrepoint Trust	2.8	3.05	Buy
01/24/20	DBS Vickers	Frasers Centrepoint Trust	2.86	2.95	Buy
01/29/20	Phillip	Frasers Centrepoint Trust	2.86	3.11	Accumulate	DDM
02/03/20	OCBC	Frasers Centrepoint Trust	2.88	2.93	Hold
02/04/20	DBS Vickers	Frasers Centrepoint Trust	2.84	2.95	Buy
03/09/20	DBS Vickers	Frasers Centrepoint Trust	2.97	3.35	Buy
03/13/20	Phillip	Frasers Centrepoint Trust	2.73	3.11	Accumulate
03/16/20	OCBC	Frasers Centrepoint Trust	2.56	3.07	Buy
03/31/20	CIMB	Frasers Centrepoint Trust	2.18	3.1	Add
04/02/20	DBS Vickers	Frasers Centrepoint Trust	2.1	2.05	Hold
04/14/20	OCBC	Frasers Centrepoint Trust	1.93	2.23	Buy
04/23/20	DMG & Partners	Frasers Centrepoint Trust	2.1	2.55	Neutral
04/24/20	UOB Kay Hian	Frasers Centrepoint Trust	2.06	2	Hold	Buy @ $1.82
04/27/20	Phillip	Frasers Centrepoint Trust	1.98	2.24	Accumulate
04/27/20	DMG & Partners	Frasers Centrepoint Trust	1.98	2.07	Neutral	DDM
04/27/20	Kim Eng	Frasers Centrepoint Trust	1.98	2.3	Buy	DDM
05/11/20	Amfrasers	Frasers Centrepoint Trust	2.08	2.39	outperform
05/11/20	OCBC	Frasers Centrepoint Trust	2.08	2.22	Hold
05/11/20	Citi Research	Frasers Centrepoint Trust	2.08	2.23	Hold
05/27/20	UOB Kay Hian	Frasers Centrepoint Trust	2.25	2.85	Buy
06/01/20	DBS Vickers	Frasers Centrepoint Trust	2.43	2.65	Buy	PB1.2x
06/08/20	UOB Kay Hian	Frasers Centrepoint Trust	2.58	2.85	Buy
06/23/20	DMG & Partners	Frasers Centrepoint Trust	2.39	2.07	Neutral
07/01/20	CIMB	Frasers Centrepoint Trust	2.31	2.49	Add	DDM
07/02/20	DBS Vickers	Frasers Centrepoint Trust	2.32	2.95	Buy	Sum of parts, PB1.45x
07/02/20	UOB Kay Hian	Frasers Centrepoint Trust	2.32	2.85	Buy
07/03/20	DBS Vickers	Frasers Centrepoint Trust	2.34	2.95	Buy	PB1.45x FY21
07/03/20	Citi Research	Frasers Centrepoint Trust	2.34	2.29	Hold
07/27/20	Phillip	Frasers Centrepoint Trust	2.39	2.69	Accumulate	DDM
07/27/20	UOB Kay Hian	Frasers Centrepoint Trust	2.39	2.9	Buy	DDM
07/27/20	DMG & Partners	Frasers Centrepoint Trust	2.39	2.16	Neutral	DDM
07/27/20	CIMB	Frasers Centrepoint Trust	2.39	2.78	Add
07/27/20	Kim Eng	Frasers Centrepoint Trust	2.39	2.45	Hold
08/04/20	OCBC	Frasers Centrepoint Trust	2.36	2.44	Hold
08/07/20	DBS Vickers	Frasers Centrepoint Trust	2.39	2.95	Buy	PB1.45x FY21
08/21/20	CIMB	Frasers Centrepoint Trust	2.37	2.78	Add	DDM
09/02/20	DBS Vickers	Frasers Centrepoint Trust	2.55	2.95	Buy	PB1.45x FY21
09/02/20	UOB Kay Hian	Frasers Centrepoint Trust	2.55	2.9	Buy
09/04/20	CIMB	Frasers Centrepoint Trust	2.54	2.83	Add	DDM
09/04/20	Lim & Tan	Frasers Centrepoint Trust	2.54	0	Hold
09/07/20	Phillip	Frasers Centrepoint Trust	2.64	2.79	Accumulate	DDM
09/07/20	UOB Kay Hian	Frasers Centrepoint Trust	2.64	3.1	Buy	DDM
09/07/20	Kim Eng	Frasers Centrepoint Trust	2.64	2.54	Hold
09/14/20	Phillip	Frasers Centrepoint Trust	2.67	2.61	Accumulate
09/14/20	Kim Eng	Frasers Centrepoint Trust	2.67	2.78	Buy
09/30/20	CIMB	Frasers Centrepoint Trust	2.37	2.83	Add	DDM
10/05/20	Phillip	Frasers Centrepoint Trust	2.41	2.79	Accumulate
11/03/20	DBS Vickers	Frasers Centrepoint Trust	2.08	2.94	Buy
11/03/20	Lim & Tan	Frasers Centrepoint Trust	2.08	0	Hold
11/04/20	UOB Kay Hian	Frasers Centrepoint Trust	2.11	3.15	Buy	DDM
11/04/20	DBS Vickers	Frasers Centrepoint Trust	2.11	3	Buy
11/04/20	CIMB	Frasers Centrepoint Trust	2.11	2.89	Add
11/04/20	Kim Eng	Frasers Centrepoint Trust	2.11	2.9	Buy
11/09/20	Phillip	Frasers Centrepoint Trust	2.26	2.79	Buy	DDM
11/12/20	OCBC	Frasers Centrepoint Trust	2.33	2.75	Buy
12/03/20	Lim & Tan	Frasers Centrepoint Trust	2.32	0	Accumulate
12/09/20	UOB Kay Hian	Frasers Centrepoint Trust	2.42	3.15	Buy
12/18/20	DMG & Partners	Frasers Centrepoint Trust	2.5	2.4	Neutral
01/05/21	Phillip	Frasers Centrepoint Trust	2.48	2.79	Buy

Stock calls for 7 January 2021

Date	Analyst	Company	Last	Target	Call	Valuation
01/07/21	DBS Vickers	ARA Hospitality	0.485	0.69	Buy	DCF
01/07/21	CIMB	GKE	0.138	0.18	Add	Sum of parts
01/07/21	Lim & Tan	Ifast Corp	3.31	0	Hold
01/07/21	CIMB	ISDN	0.43	0.72	Add
01/07/21	CIMB	SPH	1.13	1.1	Hold
01/07/21	UOB Kay Hian	Sunpower	0.775	1.1	Buy
01/07/21	DMG & Partners	Wilmar	4.95	6	Buy

The Washington riot is not a precursor to a civil war in the US. - Part 2

https://sg.news.yahoo.com/congress-certify-biden-win-democrats-152255261.html

This is not a surprise to us because we've been expecting Trump to up his ante as stated below.

http://sg-stock.blogspot.com/2020/12/the-washington-riot-is-not-precursor-to.html

We just need to sit back and watch how Biden will handle this.  Will Biden reach an agreement with Trump or let Trump continue his petulant actions until the handover so that Biden can teach him a lesson later.  Let's see.