Ascott Residence Trust (ART) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/07/21	CIMB	ART	1.04	1.2	Add
07/27/21	Lim & Tan	ART	1.01	0	Hold
07/28/21	CIMB	ART	1.03	1.22	Add	DDM
07/28/21	Kim Eng	ART	1.03	1.3	Buy	DDM
07/29/21	OCBC	ART	1.03	1.21	Buy
07/30/21	Phillip	ART	1.03	1.19	Buy	DDM
08/25/21	Phillip	ART	1	1.19	Accumulate
09/10/21	Lim & Tan	ART	1.04	0	Hold
09/16/21	UOB Kay Hian	ART	0.98	1.16	Buy	DDM
09/30/21	Phillip	ART	0.935	1.19	Accumulate
10/04/21	UOB Kay Hian	ART	0.92	1.16	Buy
10/12/21	DBS Vickers	ART	0.995	1.2	Buy
11/02/21	UOB Kay Hian	ART	1.06	1.2	Buy	DDM
11/05/21	Phillip	ART	1.05	1.19	Accumulate	DDM
11/17/21	UOB Kay Hian	ART	1.07	1.2	Buy
12/06/21	DBS Vickers	ART	0.975	1.3	Buy
12/27/21	Lim & Tan	ART	1	1.15	Accumulate
01/06/22	UOB Kay Hian	ART	1.04	1.29	Buy	DDM
01/07/22	CIMB	ART	1.03	1.22	Add
01/31/22	Kim Eng	ART	1.01	1.3	Buy	DDM
02/03/22	UOB Kay Hian	ART	1.02	1.29	Buy	DDM
02/11/22	Phillip	ART	1.06	1.22	Accumulate	DDM
03/03/22	OCBC	ART	1.04	1.22	Buy
03/03/22	CIMB	ART	1.04	1.21	Add
03/09/22	DBS Vickers	ART	1.03	1.3	Buy
03/09/22	Lim & Tan	ART	1.03	1.17	Buy
03/17/22	UOB Kay Hian	ART	1.03	1.29	Buy
04/05/22	Phillip	ART	1.12	1.23	Accumulate
04/05/22	UOB Kay Hian	ART	1.12	1.29	Buy	DDM
05/03/22	DBS Vickers	ART	1.16	1.3	Buy
05/04/22	Phillip	ART	1.16	1.24	Accumulate	DDM
05/05/22	UOB Kay Hian	ART	1.16	1.32	Buy	DDM
05/05/22	DBS Vickers	ART	1.16	1.4	Buy	DCF, PB1.18x
05/06/22	CIMB	ART	1.16	1.24	Add
05/06/22	OCBC	ART	1.16	1.3	Buy

ARA Logistics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/10/21	DBS Vickers	ARA Logistics	0.815	0.85	Buy
06/29/21	UOB Kay Hian	ARA Logistics	0.84	0.89	Buy
07/23/21	CIMB	ARA Logistics	0.88	0.961	Add	DDM
07/23/21	DBS Vickers	ARA Logistics	0.88	1	Buy	DCF
07/23/21	DMG & Partners	ARA Logistics	0.88	0.95	Buy
07/23/21	UOB Kay Hian	ARA Logistics	0.88	1.02	Buy	DDM
07/29/21	Kim Eng	ARA Logistics	0.9	0.95	Buy	DDM
09/20/21	UOB Kay Hian	ARA Logistics	0.935	1.02	Buy
10/08/21	UOB Kay Hian	ARA Logistics	0.905	1.07	Buy	DDM
10/18/21	DMG & Partners	ARA Logistics	0.89	0.95	Take Profit
10/18/21	Lim & Tan	ARA Logistics	0.89	0	Accept Offer
10/18/21	UOB Kay Hian	ARA Logistics	0.89	1.07	Accept Offer	DDM
10/27/21	CIMB	ARA Logistics	0.885	0.978	Add	DDM
01/24/22	Lim & Tan	ARA Logistics	0.895	0.933	Accept Offer
01/27/22	CIMB	ARA Logistics	0.87	0.987	Add	DDM
03/08/22	CIMB	ARA Logistics	0.815	0.92	Add	DDM

ARA Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/09/21	DBS Vickers	ARA Hospitality	0.555	0.79	Buy	DCF
08/20/21	DBS Vickers	ARA Hospitality	0.495	0.75	Buy	DCF
02/28/22	DBS Vickers	ARA Hospitality	0.5	0.7	Buy	DCF
05/05/22	DBS Vickers	ARA Hospitality	0.505	0.7	Buy

Stock calls for 27 May 2022

Date	Analyst	Company	Last	Target	Call	Valuation
05/27/22	UOB Kay Hian	BRC Asia	1.7	2.15	Buy	PER7x FY22
05/27/22	DBS Vickers	IHH Healthcare	2.01	2.55	Buy	Ringgit $7.90 target price
05/27/22	DMG & Partners	Japan Foods	0.42	0.55	Buy	Sum of parts
05/27/22	DMG & Partners	SGX	9.8	10.4	Neutral
05/27/22	Lim & Tan	Singtel	2.73	0	Buy
05/27/22	DBS Vickers	Valuetronics	0.52	0.51	Hold	PER11x FY22
05/27/22	Lim & Tan	Valuetronics	0.52	0.52	Neutral

Will the US be heading for a soft or hard landing? - Part 8

It looks increasingly probable that the US can't contain its sky-high inflation because the US Fed has no strong conviction to do so.  The swap market is indicating that the US Fed won't hike its fed rate beyond 3%.

No wonder CBO is projecting that the high inflation will last into 2023.

Furthermore, IIF has cut its global GDP growth forecast by half for 2022.

All these gloomy projections don't bode well for 2022.

China had been reducing its US treasuries since November 2021.

What's happening here? Is China taking revenge by selling its US treasuries?  No, China is not being vindictive by selling its US treasuries.  Actually, we had explained this in our post in 2018.

http://sg-stock.blogspot.com/2018/11/the-more-us-tries-to-hurt-china-more-it.html

APTV - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/16/21	Phillip	APTV	0.131	0.15	Buy	EV/Ebitda9x FY21
11/16/21	Phillip	APTV	0.138	0.15	Accumulate	EV/Ebitda9x FY21
03/09/22	Phillip	APTV	0.134	0.15	Accumulate	EV/Ebitda9x FY21