Baltic dry index - 3199

 Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count (weekly) - 491

 Related stock: Sembcorp Marine & Cosco.

Pfizer's vaccine is only 39% effective against delta variant.

https://www.cnbc.com/2021/07/23/delta-variant-pfizer-covid-vaccine-39percent-effective-in-israel-prevents-severe-illness.html

We had stated previously that Israel's proclamation of 64% efficacy for Pfizer was an overstatement and we've been proven right again.

http://sg-stock.blogspot.com/2021/07/delta-variant-is-infecting-fully.html

What does this mean? This means that the delta variant will continue to spread in a fully vaccinated nation and vaccination is an untenable solution because a fully vaccinated and infected person can still spread the virus in the community.

We will continue to have multiple lockdowns whenever there is a covid resurgence unless we can find another way or a newly improved vaccine to deal with this virus.

Delta variant is infecting fully vaccinated people in Singapore.

https://sg.news.yahoo.com/vaccinated-people-singapore-three-quarters-071043455.html

Quote:

"It reported 1,096 locally transmitted cases in the last 28 days, of which 484, or 44%, were fully vaccinated people, while 30% were partially vaccinated and the remaining 25% were unvaccinated."

The statistics in Israel, UK, and Singapore are debunking the high efficacy rates for the US vaccines.

Pan-United - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/18/20	Lim & Tan	PanUnited	0.31	0	Buy
06/23/20	Lim & Tan	PanUnited	0.315	0	Hold
08/04/20	Lim & Tan	PanUnited	0.29	0.31	Hold	PB1x FY20
09/11/20	Lim & Tan	PanUnited	0.29	0.31	Hold	PB1x FY20
03/29/21	phillip	PanUnited	0.295	0.4	Buy	EV/Ebitda7.8x FY21

Oxley - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/27/20	DMG & Partners	Oxley	0.23	0.29	Buy	RNAV (55% discount)
07/14/20	DMG & Partners	Oxley	0.235	0.29	Buy
09/01/20	UOB Kay Hian	Oxley	0.225	0.37	Buy	RNAV (30% discount)
09/28/20	DMG & Partners	Oxley	0.215	0.27	Buy
01/13/21	DMG & Partners	Oxley	0.235	0.27	Buy
02/15/21	DMG & Partners	Oxley	0.23	0.27	Buy
02/15/21	Lim & Tan	Oxley	0.23	0	Buy
02/18/21	UOB Kay Hian	Oxley	0.235	0.37	Buy
04/27/21	UOB Kay Hian	Oxley	0.26	0.37	Buy	RNAV (30% discount)

Overseas Education - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/18/20	Lim & Tan	Overseas Edu	0.32	0	Buy on weakness
06/18/20	CIMB	Overseas Edu	0.32	0.423	Add
08/17/20	Lim & Tan	Overseas Edu	0.29	0	Buy
09/02/20	CIMB	Overseas Edu	0.28	0.26	Hold
04/07/21	Lim & Tan	Overseas Edu	0.315	0	Accumulate on weakness

Stock calls for 23 July 2021

Date	Analyst	Company	Last	Target	Call	Valuation
07/23/21	DBS Vickers	ARA Logistics	0.88	1	Buy	DCF
07/23/21	UOB Kay Hian	ARA Logistics	0.88	1.02	Buy	DDM
07/23/21	DMG & Partners	ARA Logistics	0.88	0.95	Buy
07/23/21	CIMB	ARA Logistics	0.88	0.961	Add
07/23/21	Amfrasers	Don Agro	0.39	0.64	Buy	DCF
07/23/21	Lim & Tan	ESR-Reit	0.44	0	Hold
07/23/21	SAC Capital	Grand Venture	1.02	1.18	Buy	DCF, PER21.2x FY22
07/23/21	Phillip	Koda	0.8	1.32	Buy	PER7x FY21, Ex-cash
07/23/21	DBS Vickers	OCBC	12.12	14	Buy	PB
07/23/21	DBS Vickers	Sabana	0.44	0.49	Buy
07/23/21	CIMB	SATS	3.87	4.3	Add	DCF
07/23/21	Lim & Tan	SATS	3.87	0	Hold
07/23/21	UOB Kay Hian	Suntec Reit	1.49	1.78	Buy	DDM
07/23/21	Jefferies	Suntec Reit	1.49	1.7	Buy
07/23/21	DBS Vickers	UOB	25.92	29.2	Buy	PB

Fully vaccinated white house members are getting infected with delta variant.

https://news.yahoo.com/delta-variant-house-white-house-053045247.html

White house speaker, Nancy Pelosi, and other congressmen who are fully vaccinated are infected with the delta variant.  The infections occurred among these fully vaccinated people despite the proclamation of high efficacy rates for the US vaccines.

OUE Commercial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/08/20	DBS Vickers	OUE Commercial	0.4	0.5	Hold	DCF
06/08/20	CIMB	OUE Commercial	0.4	0.482	Hold
07/27/20	Lim & Tan	OUE Commercial	0.395	0	Buy on weakness
07/28/20	CIMB	OUE Commercial	0.39	0.482	Hold
08/04/20	OCBC	OUE Commercial	0.37	0.39	Hold
11/17/20	OCBC	OUE Commercial	0.35	0.39	Buy
12/10/20	DBS Vickers	OUE Commercial	0.38	0.5	Buy
01/29/21	Lim & Tan	OUE Commercial	0.385	0	Accumulate
02/03/21	CIMB	OUE Commercial	0.4	0.415	Hold	DDM
02/05/21	OCBC	OUE Commercial	0.385	0.4	Hold