Stock calls for 28 April 2022

Date	Analyst	Company	Last	Target	Call	Valuation
04/28/22	Kim Eng	AEM	4.77	6.34	Buy
04/28/22	DBS Vickers	AIMS AMP Cap Ind Reit	1.42	1.55	Buy	DCF
04/28/22	DMG & Partners	AIMS AMP Cap Ind Reit	1.42	1.66	Buy	DDM
04/28/22	UOB Kay Hian	Choo Chiang	0.375	0.56	Buy	PER12x FY22
04/28/22	Lim & Tan	Far East Hospitality	0.68	0.78	Buy
04/28/22	CIMB	Frasers Centrepoint Trust	2.43	2.75	Add	DDM
04/28/22	UOB Kay Hian	Frasers Centrepoint Trust	2.43	2.96	Buy
04/28/22	OCBC	Frasers Centrepoint Trust	2.43	2.73	Buy
04/28/22	UOB Kay Hian	Keppel Corp	6.66	10.11	Buy
04/28/22	CIMB	Keppel Corp	6.66	7.2	Add	Sum of parts
04/28/22	CIMB	Mapletree Industrial	2.63	3.08	Add	DDM
04/28/22	UOB Kay Hian	Sembcorp Marine	0.131	0.156	Buy	PB1x FY22/23
04/28/22	CIMB	Sembcorp Marine	0.131	0.09	Hold
04/28/22	Lim & Tan	Sembcorp Marine	0.131	0	Neutral
04/28/22	CIMB	Sheng Siong	1.52	1.6	Hold
04/28/22	Citi Research	Sheng Siong	1.52	1.34	Sell
04/28/22	Lim & Tan	Singapore Medical	0.33	0.5	Buy
04/28/22	UOB Kay Hian	UMS	1.18	1.45	Buy

Is the US consumer demand collapsing?

The chart below is showing that the delivery delays are getting longer which only will mean inflation will stay high and consumers cut back on their spending.

Furthermore, the US transportation industry is having a downward trajectory as explained below.

http://sg-stock.blogspot.com/2022/04/former-treasury-secretary-larry-summer.html

The latest trucker rejection rate has reached a doldrum (9.92) compared to the previous year (25.76).  The trucker rejection rate is a very important indicator of the US economic growth because trucking represents more than 70% of all freights in the US.  The general rule of thumb is that a high trucker rejection rate indicates good economic growth and vice versa.

The low rejection rate means that truckers are unwilling to reject the freight orders because they can see that the freight orders are dwindling in the US.  Therefore, they're no longer as picky as the previous year since beggars cannot be choosers.

Sanli - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/29/21	SAC Capital	Sanli	0.148	0.249	Buy	EV/Ebitda14.3x, PER10.8x FY22/23

Samudera - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/21	Lim & Tan	Samudera	0.28	0.49	Buy	PB1x FY21
07/29/21	Lim & Tan	Samudera	0.425	0	Hold

Sabana - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/22/21	Lim & Tan	Sabana	0.375	0	Accumulate
01/25/21	DBS Vickers	Sabana	0.395	0.45	Buy	DCF
07/23/21	DBS Vickers	Sabana	0.44	0.49	Buy
01/20/22	DBS Vickers	Sabana	0.45	0.49	Buy
01/21/22	DBS Vickers	Sabana	0.455	0.48	Buy	DCF
01/20/22	Lim & Tan	Sabana	0.45	0	Hold

Stock calls for 27 April 2022

Date	Analyst	Company	Last	Target	Call	Valuation
04/27/22	DBS Vickers	CapitaRetail China	1.18	1.55	Buy
04/27/22	DBS Vickers	Frasers Centrepoint Trust	2.44	2.9	Buy
04/27/22	Lim & Tan	Frasers Centrepoint Trust	2.44	2.69	Hold
04/27/22	DBS Vickers	Mapletree Industrial	2.63	3.05	Buy	DCF
04/27/22	Citi Research	Mapletree Industrial	2.63	3.15	Buy
04/27/22	DBS Vickers	Sheng Siong	1.53	1.76	Buy
04/27/22	Lim & Tan	Sheng Siong	1.53	0	Hold
04/27/22	CIMB	SIA Engineering	2.71	2.92	Add
04/27/22	CIMB	Singapore Post	0.715	0.9	Add
04/27/22	CIMB	Singtel	2.77	3.3	Add
04/27/22	Lim & Tan	Suntec Reit	1.84	0	Neutral
04/27/22	UOB Kay Hian	Suntec Reit	1.84	1.9	Hold	DDM
04/27/22	DBS Vickers	Suntec Reit	1.84	1.9	Buy
04/27/22	DMG & Partners	Suntec Reit	1.84	2	Buy	DDM
04/27/22	CIMB	Suntec Reit	1.84	1.79	Hold
04/27/22	Citi Research	Suntec Reit	1.84	1.56	Neutral
04/27/22	Kim Eng	Suntec Reit	1.84	2	Buy

Roxy Pacific - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/20/21	Lim & Tan	Roxy Pacific	0.405	0.485	Accept offer	offer price $0.485