Stock calls for 14 April 2022

Date	Analyst	Company	Last	Target	Call	Valuation
04/14/22	DMG & Partners	Comfortdelgro	1.5	1.77	Buy	DCF
04/14/22	Lim & Tan	Excelpoint	1.78	0	Vote in favour	$1.93 cash
04/14/22	OCBC	Frasers Centrepoint Trust	2.39	2.67	Buy
04/14/22	DBS Vickers	Grand Venture	0.965	1.5	Buy	PER18x FY23
04/14/22	Lim & Tan	Q&M	0.525	0.74	Accumulate
04/14/22	UOB Kay Hian	Sembcorp Marine	0.116	0.13	Buy	PB1x FY22/23

US inflation had hit 40 years high!

CPI: 8.5% and Core CPI:6.5%

Where was the inflation found? Mostly in energy!

Let's look at the inflation breakdown.  Most of the inflation factors were caused by supply, logistic, and labour shortages and not demand-side issues.

The existing monetary policies are only effective in solving demand-side issues and ineffective in resolving supply-side issues.  Therefore, the continual rate hikes will reduce consumer demand without resolving the supply and logistic issues.  This brings to mind the next question: Slow growth and high inflation = Stagflation?

Let's take a look at the global fund manager survey again.  Stagflation expectations are rising!

The global growth optimism is at its trough.

The biggest risk to investors: Global recession!

Responses against US economic and military coercion.

Let's watch how South Africa and India responded to the US economic and military coercion.

South Africa:

India:

The US will lose more support if it continues its aggression and coercion.

Megachem - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/24/21	SAC Capital	Megachem	0.39	0.55	Buy	PER11.4x FY21, PB1.3x, Up from $0.5
03/14/22	SAC Capital	Megachem	0.48	0.58	Buy	PER10.3x FY22, PB1.2x

Medtecs - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/21	DBS Vickers	Medtecs	0.955	1.25	Buy	PER9.5x FY21/22
05/07/21	DBS Vickers	Medtecs	1.03	0.92	Hold	PER10x FY22, Cut from $1.05
03/23/22	DBS Vickers	Medtecs	0.24	0.225	Hold	DCF

Marco Polo - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/16/21	DMG & Partners	Marco Polo	0.02	0.041	Buy
07/14/21	UOB Kay Hian	Marco Polo	0.029	0.036	Buy	PB1.1x FY22
08/31/21	DMG & Partners	Marco Polo	0.026	0.041	Buy
11/29/21	DMG & Partners	Marco Polo	0.029	0.04	Buy
12/09/21	UOB Kay Hian	Marco Polo	0.028	0.038	Buy	PB1.1x FY22
01/05/22	SAC Capital	Marco Polo	0.028	0.032	Buy	PER8x FY22
03/25/22	DMG & Partners	Marco Polo	0.029	0.04	Buy

Stock calls for 13 April 2022

Date	Analyst	Company	Last	Target	Call	Valuation
04/13/22	DMG & Partners	City Developments	8.2	9.75	Buy
04/13/22	CIMB	Comfortdelgro	1.48	1.8	Add
04/13/22	UOB Kay Hian	Parkway Life	4.81	4.82	Hold	DDM

Mapletree North Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/01/21	CIMB	Mapletree North Asia	0.98	1.15	Add	DDM
02/03/21	OCBC	Mapletree North Asia	0.99	1.06	Buy
03/17/21	OCBC	Mapletree North Asia	0.995	1.06	Buy
03/17/21	DBS Vickers	Mapletree North Asia	0.995	1.2	Buy	DCF
04/05/21	DBS Vickers	Mapletree North Asia	1.06	1.2	Buy
04/27/21	CIMB	Mapletree North Asia	1.1	1.15	Add
05/18/21	OCBC	Mapletree North Asia	1.04	1.18	Buy
05/31/21	CIMB	Mapletree North Asia	1.03	1.15	Add
07/28/21	CIMB	Mapletree North Asia	1.04	1.12	Add	DDM
07/28/21	OCBC	Mapletree North Asia	1.04	1.18	Buy
10/12/21	DBS Vickers	Mapletree North Asia	0.96	1.3	Buy	DCF
11/01/21	OCBC	Mapletree North Asia	1.02	1.15	Buy
11/01/21	CIMB	Mapletree North Asia	1.02	1.12	Add
11/25/21	CIMB	Mapletree North Asia	1.05	1.13	Add	DDM
01/03/22	Lim & Tan	Mapletree North Asia	1.11	0	Accept Offer
01/06/22	CIMB	Mapletree North Asia	1.09	1.13	Add	DDM
01/06/22	OCBC	Mapletree North Asia	1.09	1.15	Hold
03/21/22	Lim & Tan	Mapletree North Asia	1.12	0	Accept Offer