Japan Foods - Stock calls

Date	Analyst	Company	Last	Target	Call
05/31/21	Amfrasers	Japan Foods	0.33	0.46	Neutral
05/31/21	DMG & Partners	Japan Foods	0.395	0.37	Neutral
06/30/21	Amfrasers	Japan Foods	0.405	0.65	Outperform
07/12/21	DMG & Partners	Japan Foods	0.42	0.5	Buy
11/10/21	Amfrasers	Japan Foods	0.41	0.56	Outperform

Stock calls for 1 April 2022

Date	Analyst	Company	Last	Target	Call	Valuation
04/01/22	DMG & Partners	China Aviation Oil	0.915	1	Neutral	Sum of parts
04/01/22	CIMB	DBS	35.83	39.9	Add
04/01/22	CIMB	Keppel Corp	6.42	7.2	Add	Sum of parts
04/01/22	Lim & Tan	Keppel Corp	6.42	6.85	Buy
04/01/22	CIMB	OCBC	12.38	14.21	Add
04/01/22	Lim & Tan	Singtel	2.64	3.16	Accumulate
04/01/22	UOB Kay Hian	Thai Beverage	0.715	0.9	Buy	Sum of parts
04/01/22	CIMB	UOB	32.02	35.4	Add
04/01/22	UOB Kay Hian	Wilmar	4.71	5.5	Buy	Sum of parts
04/01/22	DBS Vickers	Yangzijiang	1.53	2.15	Buy	Sum of parts

Which countries are on the wrong side of history?

Before we embark on this topic, let's find out the total number of UN members first (193 Member States).

Next, let's find out the total number of countries (48 Member States) that sanctioned Russia over the Ukraine invasion.

Therefore, we can conclude that only 25% of UN member states have sanctioned Russia which means that only a minority of UN members support Ukraine.

However, 3 populous countries such as China (1.44B), India (1.38B) and Indonesia (0.27B) are supporting Russia.  In other words, these 3 populous countries represent close to 40% (3.09B/7.9B) of the world population.

China, India, and Indonesia are supporting Russia by buying Russian oil and the oil transactions are boosting the Russian coffer.

India had imported at least 13m barrels of oil in late February from Russia.

https://sg.news.yahoo.com/us-says-no-red-line-125814636.html

Indonesia is also mulling purchases of Russian oil too.

We can tell from these countries' actions that more countries and politicians are able to discern the truth behind the Ukraine invasion.

If you still don't know the truth, please read our previous post below.

http://sg-stock.blogspot.com/2022/03/the-hard-truth-russia-is-not-wrong-to.html

Ix Biopharma - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/19/21	Phillip	Ix Biopharma	0.255	0.445	Buy	DCF
04/08/21	Phillip	Ix Biopharma	0.255	0.445	Buy	DCF
06/14/21	Phillip	Ix Biopharma	0.24	0.445	Buy	DCF
10/20/21	Phillip	Ix Biopharma	0.235	0.335	Buy	DCF
11/29/21	Phillip	Ix Biopharma	0.23	0.355	Buy	DCF

Isoteam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/24/22	DMG & Partners	Isoteam	0.112	0.12	Neutral	DCF

ISDN - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/21	CIMB	ISDN	0.425	0.65	Add
01/07/21	CIMB	ISDN	0.43	0.72	Add	PER12x FY22
02/08/21	CIMB	ISDN	0.715	0.72	Hold
03/03/21	CIMB	ISDN	0.61	0.72	Add	PER12x FY22
04/29/21	CIMB	ISDN	0.705	0.844	Add	PER12.5x FY22
06/28/21	CIMB	ISDN	0.685	0.844	Add	PER12.5x FY22
07/05/21	Amfrasers	ISDN	0.73	0.85	Outperform	PER14x
07/29/21	CIMB	ISDN	0.71	0.844	Add	PER12.5x CY22
08/17/21	CIMB	ISDN	0.7	0.85	Add
09/14/21	CIMB	ISDN	0.675	0.85	Add
11/15/21	CIMB	ISDN	0.65	1	Add
01/06/22	CIMB	ISDN	0.715	1	Add
02/28/22	CIMB	ISDN	0.65	0.96	Add
03/15/22	CIMB	ISDN	0.57	0.96	Add

Stock calls for 31 March 2022

Date	Analyst	Company	Last	Target	Call	Valuation
03/31/22	Lim & Tan	Comfortdelgro	1.49	1.77	Accumulate
03/31/22	CIMB	Japfa	0.72	0.81	Add	PER13.1x FY22
03/31/22	Lim & Tan	Tianjin Zhongxin	1.08	1.6	Buy
03/31/22	DMG & Partners	Venture	17.81	22.8	Buy	PER19x FY22

The US 2 and 10 years treasury yield spread is narrowing and is on the verge to invert.

The US treasury yield spread (2 & 10 years) is approaching zero and negative territory.

What does this mean?

Historically, whenever there is a yield inversion between 2 and 10 years treasury yield, a recession will happen within 2 years after the yield inversion.

Therefore, the earliest recession year will be in 2023 if this yield inversion happens now.