The fabricated Nvidia saga!

The US had been alleging that China had used a chinese mega lady to get cozy with Nvidia Jensen to spy on Nvidia.  Is there any validity to this allegation?

Our take on this allegation is that this makes no complete sense at all because China has been trying to develop its own domestic chip industry and is trying to wean China firms off the western chips.  This is why China has been restricting western chips imports so that the local semiconductor industry can grow expeditiously without foreign competition.

Therefore, we surmise that the Megaspeed lady is just trying to profit from the Nvidia chip exports to China for her own personal gain and not doing it to serve China's interest because doing so will thwart China's plan to develop its own semiconductor industry.

Literally, it makes no sense for China to block Nvidia chips from Hong Kong but accept Nvidia chips from Singapore.  After all, Hong Kong is part of China but Singapore is not.

Red alert: Iran war is resuming! - Part 10

The final Iran battle is starting soon!

This will be the last battle between the US and Iran and the US will exit the Iran war thereafter.

Just as we've stated before, Trump will declare victorious and exit the war despite being unable to defeat Iran or make Iran surrender.  In the end, Iran will cement its leadership position in the middle east after the US exit and the US won't be able to resume its previous military presence in the middle east because the gulf states know that the US military presence is a liability now.

Frasers Logistics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/01/25	UOB Kay Hian	Frasers Logistics	0.88	1.23	Buy	DDM
08/01/25	DBS Vickers	Frasers Logistics	0.88	1.05	Buy	DCF
08/05/25	UOB Kay Hian	Frasers Logistics	0.87	1.15	Buy	DDM
09/01/25	UOB Kay Hian	Frasers Logistics	0.91	1.15	Buy	DDM
11/10/25	DBS Vickers	Frasers Logistics	0.95	1.05	Buy	DCF
11/10/25	CIMB	Frasers Logistics	0.95	1.1	Add	DDM
11/25/25	UOB Kay Hian	Frasers Logistics	0.95	1.22	Buy	DDM
01/02/26	UOB Kay Hian	Frasers Logistics	0.995	1.22	Buy	DDM
02/03/26	UOB Kay Hian	Frasers Logistics	1.01	1.22	Buy	DDM
02/04/26	DBS Vickers	Frasers Logistics	1.01	1.05	Buy	DCF
03/02/26	UOB Kay Hian	Frasers Logistics	0.99	1.22	Buy	DDM
04/01/26	UOB Kay Hian	Frasers Logistics	0.895	1.22	Buy	DDM
05/04/26	UOB Kay Hian	Frasers Logistics	0.96	1.22	Buy	DDM
05/05/26	DBS Vickers	Frasers Logistics	0.97	1.05	Buy	DCF
05/05/26	Lim & Tan	Frasers Logistics	0.97	1.1	Accumulate
05/06/26	UOB Kay Hian	Frasers Logistics	0.99	1.3	Buy	DDM
05/06/26	CIMB	Frasers Logistics	0.99	1.1	Add	DDM
05/28/26	UOB Kay Hian	Frasers Logistics	0.985	1.33	Buy	DDM
07/06/26	UOB Kay Hian	Frasers Logistics	0.965	1.3	Buy	DDM
07/31/26	DBS Vickers	Frasers Logistics	1	1.05	Buy	DCF
08/03/26	UOB Kay Hian	Frasers Logistics	0.99	1.33	Buy	DDM
09/01/26	UOB Kay Hian	Frasers Logistics	0.935	1.33	Buy	DDM
09/10/26	UOB Kay Hian	Frasers Logistics	0.91	0.96	Buy	DDM
10/01/26	UOB Kay Hian	Frasers Logistics	0.88	0.96	Buy	DDM
10/12/26	Phillip	Frasers Logistics	0.87	1.01	Buy	DDM
11/06/26	DBS Vickers	Frasers Logistics	0.925	1	Buy	DCF, PB0.9x

Frasers Centrepoint Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/01/25	UOB Kay Hian	Frasers Centrepoint Trust	2.22	3.07	Buy	DDM
08/06/25	DMG & Partners	Frasers Centrepoint Trust	2.23	2.5	Buy	DDM
09/02/25	UOB Kay Hian	Frasers Centrepoint Trust	2.33	3.07	Buy	DDM
09/02/25	OCBC	Frasers Centrepoint Trust	2.33	2.58	Buy
10/23/25	DBS Vickers	Frasers Centrepoint Trust	2.44	2.75	Buy	DCF
10/23/25	Lim & Tan	Frasers Centrepoint Trust	2.44	2.56	Hold
10/24/25	UOB Kay Hian	Frasers Centrepoint Trust	2.45	2.9	Buy	DDM
10/27/25	Phillip	Frasers Centrepoint Trust	2.4	2.74	Accumulate	DDM
11/26/25	DMG & Partners	Frasers Centrepoint Trust	2.25	2.7	Buy	DDM
12/26/25	Lim & Tan	Frasers Centrepoint Trust	2.31	2.6	Accumulate on weakness
01/13/26	Kim Eng	Frasers Centrepoint Trust	2.27	2.6	Buy
01/26/26	DBS Vickers	Frasers Centrepoint Trust	2.26	2.75	Buy	DCF
01/27/26	UOB Kay Hian	Frasers Centrepoint Trust	2.26	2.9	Buy	DDM
01/27/26	Phillip	Frasers Centrepoint Trust	2.26	2.74	Buy	DDM
01/27/26	CIMB	Frasers Centrepoint Trust	2.26	2.86	Add	DDM
01/27/26	OCBC	Frasers Centrepoint Trust	2.26	2.74	Buy
04/01/26	UOB Kay Hian	Frasers Centrepoint Trust	2.18	2.9	Buy	DDM
04/07/26	DBS Vickers	Frasers Centrepoint Trust	2.21	2.75	Buy	DCF
04/10/26	DMG & Partners	Frasers Centrepoint Trust	2.23	2.7	Buy	DDM
04/27/26	UOB Kay Hian	Frasers Centrepoint Trust	2.32	3.06	Buy	DDM
04/27/26	Phillip	Frasers Centrepoint Trust	2.32	2.7	Buy	DDM
04/27/26	Lim & Tan	Frasers Centrepoint Trust	2.32	2.6	Accumulate on weakness
07/01/26	DBS Vickers	Frasers Centrepoint Trust	2.26	2.75	Buy	DCF
07/02/26	UOB Kay Hian	Frasers Centrepoint Trust	2.23	2.99	Buy	DDM
07/21/26	DBS Vickers	Frasers Centrepoint Trust	2.27	2.75	Buy	DCF
07/21/26	Lim & Tan	Frasers Centrepoint Trust	2.27	2.6	Accumulate on weakness
07/28/26	CIMB	Frasers Centrepoint Trust	2.26	2.86	Add	DDM
07/30/26	Phillip	Frasers Centrepoint Trust	2.28	2.7	Buy	DDM
09/10/26	UOB Kay Hian	Frasers Centrepoint Trust	2.11	2.93	Buy	DDM
10/01/26	UOB Kay Hian	Frasers Centrepoint Trust	2.09	2.93	Buy	DDM
10/12/26	DMG & Partners	Frasers Centrepoint Trust	2.07	2.7	Buy	DDM
10/22/26	DBS Vickers	Frasers Centrepoint Trust	2.06	2.5	Buy	DCF, PB1.1x
10/22/26	UOB Kay Hian	Frasers Centrepoint Trust	2.06	3	Buy	DDM
10/22/26	Lim & Tan	Frasers Centrepoint Trust	2.06	2.54	Accumulate on weakness
10/23/26	UOB Kay Hian	Frasers Centrepoint Trust	2.11	2.92	Buy	DDM
10/26/26	Phillip	Frasers Centrepoint Trust	2.18	2.5	Buy	DDM

FoundationHealth - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/25/26	OCBC	FoundationHealth	0.715	1.13	Buy	EV/Ebitda14.1x FY27
08/28/26	Jefferies	FoundationHealth	0.725	1.1	Buy
10/19/26	Lim & Tan	FoundationHealth	0.54	0	Hold

Stock calls for 6 November 2026

Date	Analyst	Company	Last	Target	Call	Valuation
11/07/26	Amfrasers	Raffles Education	0.084	0.27	outperform	DCF
11/06/26	Lim & Tan	Centurion Accommodation	1.09	1.31	Accumulate
11/06/26	phillip	DBS	71.2	76	Accumulate	GGM, PB3.04x FY27
11/06/26	UOB Kay Hian	DBS	71.2	84.7	Buy	GGM, PB3.33x FY27
11/06/26	DBS Vickers	Frasers Logistics	0.925	1	Buy	DCF, PB0.9x
11/06/26	OCBC	IX Biopharm	0.47	0.92	Buy	DCF
11/06/26	uSMART	Justco	0.38	0.43	Hold
11/06/26	CIMB	Nanofilm	0.76	1.48	Add	PER
11/06/26	OCBC	Netlink	0.94	1.08	Buy
11/06/26	Lim & Tan	OCBC	27.93	32	Accumulate on weakness
11/06/26	phillip	SIA Engineering	2.89	3.76	Buy	PER18.6x FY27
11/06/26	Kim Eng	UI Boustead	0.785	1	Buy
11/06/26	Aletheia Capital	Wilmar	3.01	5	Buy

Red alert: The AI bloodbath is not over yet! - Part 12

The US democrats' win has caused an AI and crypto bloodbath in the world.  Why?

This is because the democrats have been known to be anti-AI and anti-crypto and they will impose tighter regulations and restrict overzealous investments in AI and crypto.

For example, the democrats will restrict the AI data centre infrastructure, impose harsher AI regulations and they will also undo some of Trump's pro-crypto policies.

How far will they go?  Well, it depends on what will serve their interests as they're preparing for the 2028 US presidential election.  The bottomline is both the republicans and democrats won't try to cause a recession before the US presidential election or else they'll lose.

Whatever it is, Trump will become a lame duck president in January 2027 onwards because many of his policies will be blocked in the congress and he will be busy fighting the democrats over many issues including his own likely impeachment.  There is no better time for the democrats to take revenge after gaining control of both congress houses.  When Trump is busy fighting his own opponents at home, he won't have the time and mood to manage the country or external affairs.  That's the harsh reality now.

That's why it is better to invest in China/HK market as it has more stability than the US.  Cheers!

Fortress Minerals - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/02/25	Amfrasers	Fortress Minerals	0.235	0.27	outperform	Cut from $0.40, Sum of parts
05/13/26	Amfrasers	Fortress Minerals	0.26	0.26	Neutral	Sum of parts
10/19/26	Amfrasers	Fortress Minerals	0.21	0.2	Neutral	DCF

Food Empire - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/15/25	UOB Kay Hian	Food Empire	2.3	2.73	Buy	PER17x FY26
08/15/25	CIMB	Food Empire	2.3	2.94	Add
08/28/25	DBS Vickers	Food Empire	2.37	2.68	Unrated	Sum of parts
09/10/25	DMG & Partners	Food Empire	2.38	2.72	Buy
09/16/25	Kim Eng	Food Empire	2.62	2.92	Buy
09/17/25	UOB Kay Hian	Food Empire	2.59	3	Buy	PER18.7x FY26
09/19/25	CIMB	Food Empire	2.66	3.09	Add
09/25/25	Lim & Tan	Food Empire	2.65	2.99	Buy
09/25/25	DMG & Partners	Food Empire	2.65	2.95	Buy
10/14/25	UOB Kay Hian	Food Empire	2.3	3	Buy	PER18.7x FY26
11/06/25	Amfrasers	Food Empire	2.29	2.69	outperform	DCF
11/06/25	uSMART	Food Empire	2.29	2.97	Buy
11/13/25	UOB Kay Hian	Food Empire	2.35	3	Buy	PER19x FY26
11/13/25	Lim & Tan	Food Empire	2.35	2.99	Buy
11/17/25	CIMB	Food Empire	2.56	3.18	Add
01/05/26	UOB Kay Hian	Food Empire	2.45	3	Buy	PER19x FY26
02/02/26	UOB Kay Hian	Food Empire	2.7	3	Buy	PER19x FY26
02/03/26	DBS Vickers	Food Empire	2.7	3.4	Buy	Sum of parts
02/20/26	CIMB	Food Empire	3.02	4	Add
02/26/26	UOB Kay Hian	Food Empire	3.27	4.21	Buy	PER25x FY26
03/02/26	DBS Vickers	Food Empire	3.25	3.65	Buy	Sum of parts
03/09/26	Amfrasers	Food Empire	3.08	3.7	outperform	DCF
03/10/26	UOB Kay Hian	Food Empire	2.93	4.21	Buy	PER25x FY26
05/04/26	UOB Kay Hian	Food Empire	3.26	4.21	Buy	PER25x FY26
05/12/26	DBS Vickers	Food Empire	2.88	3.65	Buy	Sum of parts
06/03/26	UOB Kay Hian	Food Empire	3.02	4.21	Buy	PER25x FY26
06/03/26	DMG & Partners	Food Empire	3.02	3.87	Buy	Ex-bonus target $3.36
06/04/26	DBS Vickers	Food Empire	2.51	3.05	Buy	Sum of parts, Ex-bonus (1 for 5)
06/19/26	UOB Kay Hian	Food Empire	2.5	3.49	Buy	PER25x FY26, Ex-Bonus (1 for 5)
07/06/26	CLSA	Food Empire	2.53	3.6	outperform
07/13/26	CIMB	Food Empire	2.53	3.33	Add	PER
07/23/26	UOB Kay Hian	Food Empire	2.4	3.49	Buy	PER25x FY26, Ex-Bonus (1 for 5)
07/23/26	DMG & Partners	Food Empire	2.4	3.36	Buy
08/04/26	UOB Kay Hian	Food Empire	2.46	3.49	Buy	PER25x FY26, Ex-Bonus (1 for 5)
08/13/26	DBS Vickers	Food Empire	2.51	3.05	Buy	Sum of parts, Ex-bonus (1 for 5)
08/13/26	Lim & Tan	Food Empire	2.51	3.31	Buy
08/19/26	Amfrasers	Food Empire	2.36	3.186	outperform	DCF
08/24/26	DMG & Partners	Food Empire	2.23	3.08	Buy
09/03/26	UOB Kay Hian	Food Empire	2.21	3.49	Buy	PER25x FY26, Ex-Bonus (1 for 5)
09/21/26	CIMB	Food Empire	2.11	3.33	Add	PER
10/02/26	UOB Kay Hian	Food Empire	1.9	3.49	Buy	PER25x FY26, Ex-Bonus (1 for 5)
11/03/26	UOB Kay Hian	Food Empire	2.04	3.49	Buy	PER25x FY26, Ex-Bonus (1 for 5)