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
06/22/22	SAC Capital	Megachem	0.47	0.58	Buy

Stock calls for 21 July 2022

Date	Analyst	Company	Last	Target	Call	Valuation
07/21/22	UOB Kay Hian	DBS	30.85	39.5	Buy	GGM, PB1.72x FY23
07/21/22	CIMB	DBS	30.85	40.2	Add
07/21/22	Citi Research	Genting	0.77	0.81	Buy
07/21/22	UOB Kay Hian	OCBC	11.55	14.75	Buy	GGM, PB1.19x FY23
07/21/22	Lim & Tan	Sabana	0.445	0.48	Buy

Medtecs - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
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
06/03/22	DMG & Partners	Marco Polo	0.03	0.04	Buy	DCF
06/17/22	UOB Kay Hian	Marco Polo	0.028	0.043	Buy	PB1.1x FY22

Mapletree North Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/28/21	CIMB	Mapletree North Asia	1.04	1.12	Add	DDM
07/28/21	Citi Research	Mapletree North Asia	1.04	1.17	Buy
07/28/21	OCBC	Mapletree North Asia	1.04	1.18	Buy
10/12/21	Citi Research	Mapletree North Asia	0.96	1.14	Buy
10/12/21	DBS Vickers	Mapletree North Asia	0.96	1.3	Buy	DCF
11/01/21	CIMB	Mapletree North Asia	1.02	1.12	Add
11/01/21	OCBC	Mapletree North Asia	1.02	1.15	Buy
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
04/20/22	Lim & Tan	Mapletree North Asia	1.23	0	Accept Offer
04/21/22	CIMB	Mapletree North Asia	1.23	1.13	Hold
04/21/22	Citi Research	Mapletree North Asia	1.23	1.2	Hold

Stock calls for 20 July 2022

Date	Analyst	Company	Last	Target	Call	Valuation
07/20/22	DBS Vickers	Hongkong Land	4.91	5.95	Buy	RNAV (50% disc)
07/20/22	Citi Research	Ifast Corp	4.12	3.8	Sell
07/20/22	UOB Kay Hian	SGX	9.8	11.09	Buy	PER23.5x FY23
07/20/22	DBS Vickers	SIA Engineering	2.43	2.65	Buy	Sum of parts

China is holding less than US$1T treasuries now!

China has cut its US treasuries below US$1T and Japan is the only country that possesses more than US$1T of US treasuries.