Trump is likely to lose his mid-term election! - Part 5

The polymarket statistics for Trump have worsen and Trump has a high chance of losing both congress houses.  Trump has threatened to veto every US policy if he can't win this election.

However, we don't think his threat will work and the tide won't turn in his favour after his threat.  Let's  watch how this will pan out.

The underlying factors for the ISM PMI are not as optimistic as the headline number.

Missing parameter:

Estimated Local New Orders: New orders - New Export Orders = 0.2 - 0.3 = (-0.1)

Estimated Local Material: Inventories - Imports = 2.8 - 1.9 = +0.9

The new orders (+0.2) and new export orders (+0.3) increased marginally but the local new orders (Est'd -0.1) eased a bit.  This showed that the US consumer spendings were relatively stagnant even though the prices declined (-2.7).

Although the producers increased their inventories (+2.8), imports (+1.9), local material (+0.9) and production (+2.3) for the upcoming festivals, they didn't increase their employment (-0.3) because they had not confidence in the US consumption as the customers' inventories remained the same.  The producers only boosted their production to clear some backlog of orders (-1.8).

The above factors caused the PMI to increase to 55.5 (+1) but the weak US consumer spending would continue to dictate the trajectory of the PMI in the future.

Far East Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/04/25	CIMB	Far East Hospitality	0.595	0.74	Add	DDM
09/30/25	UOB Kay Hian	Far East Hospitality	0.6	0.81	Buy	DDM
10/06/25	Lim & Tan	Far East Hospitality	0.61	0.66	Accumulate
10/30/25	DBS Vickers	Far East Hospitality	0.615	0.7	Buy	DCF
10/31/25	CIMB	Far East Hospitality	0.615	0.76	Add	DDM
12/08/25	DBS Vickers	Far East Hospitality	0.61	0.7	Buy	DCF
02/12/26	DBS Vickers	Far East Hospitality	0.625	0.7	Buy	DCF
02/12/26	Lim & Tan	Far East Hospitality	0.625	0.71	Accumulate
02/13/26	CIMB	Far East Hospitality	0.62	0.72	Add	DDM
02/16/26	UOB Kay Hian	Far East Hospitality	0.625	0.85	Buy	DDM
03/17/26	DBS Vickers	Far East Hospitality	0.565	0.75	Buy	RNAV (15% disc)
05/04/26	Kim Eng	Far East Hospitality	0.575	0.65	Buy	DDM
05/04/26	Lim & Tan	Far East Hospitality	0.575	0.71	Accumulate
06/29/26	JPM	Far East Hospitality	0.57	0.69	Neutral
07/30/26	DBS Vickers	Far East Hospitality	0.59	0.75	Buy	RNAV (15% disc)
07/30/26	Lim & Tan	Far East Hospitality	0.59	0.73	Accumulate
09/10/26	UOB Kay Hian	Far East Hospitality	0.545	0.79	Buy	DDM
10/21/26	Lim & Tan	Far East Hospitality	0.505	0.645	Buy
10/22/26	UOB Kay Hian	Far East Hospitality	0.51	0.8	Buy	DDM
10/30/26	Kim Eng	Far East Hospitality	0.505	0.65	Buy	DDM

F&N - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/26	Lim & Tan	F&N	1.5	1.5	Hold
02/09/26	uSMART	F&N	1.5	1.91	Hold

Ever Glory Uinited Holdings - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/12/25	phillip	Ever Glory Uinited Holdings	0.57	0.81	Buy	PER
09/03/25	Lim & Tan	Ever Glory Uinited Holdings	0.74	0.81	Watchlist
11/20/25	CIMB	Ever Glory Uinited Holdings	0.7	0.87	Add
12/17/25	Amfrasers	Ever Glory Uinited Holdings	0.7	1.2	Outperform	DCF
02/05/26	CIMB	Ever Glory Uinited Holdings	0.685	0.87	Add	PER
03/03/26	CIMB	Ever Glory Uinited Holdings	0.76	0.9	Add	PER
03/09/26	phillip	Ever Glory Uinited Holdings	0.77	1.05	Buy	PER18x FY27
03/17/26	Amfrasers	Ever Glory Uinited Holdings	0.745	1.28	Outperform	DCF ($1.02 – ex-bonus)
04/24/26	CIMB	Ever Glory Uinited Holdings	0.955	1.13	Add	PER
05/06/26	phillip	Ever Glory Uinited Holdings	0.8	1.05	Buy	PER18x FY27
05/22/26	CIMB	Ever Glory Uinited Holdings	0.845	0.9	Add	PER, Ex-bonus
07/08/26	CIMB	Ever Glory Uinited Holdings	0.775	0.9	Add	PER, Ex-bonus
08/11/26	CIMB	Ever Glory Uinited Holdings	0.86	1.1	Add	PER
08/27/26	phillip	Ever Glory Uinited Holdings	0.84	1.2	Buy	PER
10/16/26	Amfrasers	Ever Glory Uinited Holdings	0.77	1.17	Outperform	DCF

Stock calls for 3 November 2026

Date	Analyst	Company	Last	Target	Call	Valuation
11/03/26	Kim Eng	Addvalue	0.106	0.34	Buy	P/S
11/03/26	CIMB	AEM	7.62	12.92	Add
11/03/26	Lim & Tan	APAC Realty	0.455	0.73	Accumulate
11/03/26	UOB Kay Hian	Beng Kuang Marine	0.33	0.75	Buy	PER14x FY27
11/03/26	Lim & Tan	Beng Kuang Marine	0.33	0.72	Buy
11/03/26	DBS Vickers	Capitaland Integrated Commercial Trust	2.29	2.6	Buy	PB1.2x
11/03/26	DBS Vickers	City Developments	7.29	12	Buy	RNAV (35% disc)
11/03/26	Kim Eng	Elite ComReit	0.3	0.44	Buy	DDM
11/03/26	DMG & Partners	Elite ComReit	0.3	0.4	Buy
11/03/26	DBS Vickers	First Resources	3.08	6.3	Buy	PER14x FY27
11/03/26	UOB Kay Hian	Food Empire	2.04	3.49	Buy	PER25x FY26, Ex-Bonus (1 for 5)
11/03/26	UOB Kay Hian	Huationg Global	0.485	0.88	Buy	PER10x FY26
11/03/26	Phillip	Lendlease Reit	0.555	0.73	Buy	DDM
11/03/26	CIMB	Mapletree Commercial	1.15	1.17	Hold	DDM
11/03/26	UOB Kay Hian	Oiltek	1.05	2.78	Buy	PER28x FY27
11/03/26	OCBC	Parkway Life	4	4.5	Buy
11/03/26	Lim & Tan	Propnex	1.65	2.15	Accumulate
11/03/26	UOB Kay Hian	Riverstone	0.73	1.21	Buy	PER24x FY27
11/03/26	DBS Vickers	SATS	3.66	5	Buy	DCF
11/03/26	UOB Kay Hian	SATS	3.66	5	Buy	PER19.7x FY28
11/03/26	DBS Vickers	Seatrium	1.84	3	Buy	PB1.35x FY26
11/03/26	DBS Vickers	SGX	20.32	20	Hold	PER25x FY28
11/03/26	DBS Vickers	Singtel	4.11	5.46	Buy	Sum of parts (10% disc)
11/03/26	CIMB	Singtel	4.11	5.16	Add
11/03/26	DBS Vickers	UOB Kay Hian	3.13	4.8	Buy	PER15x FY27
11/03/26	DBS Vickers	UOL	7.89	13	Buy	RNAV (25% disc)
11/03/26	UOB Kay Hian	Valuetronics	0.94	1.88	Buy	PER19x FY28, Ex-cash
11/03/26	DBS Vickers	Venture	14.75	22.9	Buy	PER24x FY27
11/03/26	UOB Kay Hian	Venture	14.75	21.1	Buy	PER23.7x FY27
11/03/26	DBS Vickers	Yangzijiang Maritime	0.575	0.88	Buy	PB1.4x, PER16x FY27
11/03/26	DBS Vickers	Yangzijiang Shipping	4.63	6.6	Buy	PB3x FY27, PER11.5x FY27
11/03/26	UOB Kay Hian	Yangzijiang Shipping	4.63	5.9	Buy	PER10.1x FY28

Red alert: Iran war is resuming! - Part 9

Just as we've expected, the US has resumed the Iran war by striking Iran just before the mid-term election.

How bad will this impact the financial market?

Well, it depends on the intensity of Iran's retaliation.  If Iran is limiting its retaliation for this latest US strike, then the financial market will only have a knee-jerk reaction and not a prolonged repercussion.  Let's hope for the best because we don't want to cross the rubicon and face the Gulf armageddon.

Apple Iphone Duo has a flawed hinge design that causes its screen to crack! - Part 2

 After our 1st warning about Iphone Duo hinge design problem, another major hardware defect has been detected.  There is an usual gap between the frame and the hinge when the Iphone Duo is folded and this gap can expose the internal components to dust and water.

There is a high chance that Apple will face a high pre-order cancellation wave soon as more defective problems are being detected by users.

Hot news: Russia has won the Ukraine war! - Part 2

It looks like Ukraine is the only sore loser in this war.

The US wants to resolve the EU high energy prices by resuming the Russian gas sales to Europe via Ukriane so that Ukraine can earn some fees to rebuild its country.

What does this mean?

This means that businesses will be back to the previous stage between the EU and Russia while Ukraine will lose up to 25% of its territory to Russia.

If this doesn't mean that Russia has won the Ukriane war, what else can it be?  Justice is served!

ESR Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/04/25	CIMB	ESR-Reit	2.74	3.55	Add	DDM
10/28/25	DBS Vickers	ESR-Reit	2.87	3.2	Buy	DCF
10/30/25	CIMB	ESR-Reit	2.91	3.64	Add	DDM
10/30/25	DMG & Partners	ESR-Reit	2.91	3.15	Buy
11/06/25	Kim Eng	ESR-Reit	2.82	3	Buy	DDM
12/15/25	Lim & Tan	ESR-Reit	2.74	3.3	Accumulate
02/04/26	DBS Vickers	ESR-Reit	2.71	3.2	Buy	DCF
02/05/26	CIMB	ESR-Reit	2.75	3.43	Add	DDM
02/05/26	Kim Eng	ESR-Reit	2.75	3	Buy	DDM
04/29/26	CIMB	ESR-Reit	2.47	3.43	Add	DDM
07/08/26	DBS Vickers	ESR-Reit	2.34	3.2	Buy	DCF
07/08/26	DMG & Partners	ESR-Reit	2.34	3.05	Buy	DDM
07/28/26	DBS Vickers	ESR-Reit	2.48	3.1	Buy	DCF
07/29/26	CIMB	ESR-Reit	2.57	3.43	Add	DDM
08/11/26	DBS Vickers	ESR-Reit	2.45	3.2	Buy	DCF
09/07/26	DMG & Partners	ESR-Reit	2.27	2.48	Neutral	DDM
09/07/26	DBS Vickers	ESR-Reit	2.27	2.8	Hold	DCF
10/27/26	DBS Vickers	ESR-Reit	1.97	2.3	Hold	DCF, PB0.9x
10/28/26	Kim Eng	ESR-Reit	1.9	2.78	Buy	DDM