Stock calls for 30 March 2020.

Date	Analyst	Company	Last	Target	Call	Valuation
03/30/20	DMG & Partners	Avi-Tech	0.325	0.5	Buy
03/30/20	DMG & Partners	Capitaland	2.95	4.2	Buy
03/30/20	DBS Vickers	Centurion	0.395	0.41	Hold	DCF
03/30/20	DMG & Partners	CSE Global	0.36	0.73	Buy
03/30/20	Kim Eng	Hi-P	0.83	0.78	Hold	Roe-g/Coe-g, PB1x FY20
03/30/20	DBS Vickers	OUE Commercial	0.335	0.6	Buy
03/30/20	UOB Kay Hian	SIA	6.08	5.8	Hold	Sum of parts, Buy @ $5.2
03/30/20	DBS Vickers	Singtel	2.57	2.85	Buy
03/30/20	DMG & Partners	Suntec Reit	1.33	2.08	Buy
03/30/20	Kim Eng	UMS	0.635	0.96	Buy	PB2x FY20
03/30/20	Kim Eng	Valuetronics	0.505	0.82	Buy	PB1.5x FY21
03/30/20	Kim Eng	Venture	13.96	13.9	Hold	PB1.5x FY20
03/30/20	DMG & Partners	Venture	13.96	19.3	Buy
03/30/20	UOB Kay Hian	Wilmar	3.22	4	Buy

Japan is announcing more reliable covid-19 statistics after olympics postponement.

https://sg.news.yahoo.com/tokyos-infection-spike-olympic-delay-013509490.html

We had stated previously that Japan was fudging its covid-19 statistics.

http://sg-stock.blogspot.com/2020/02/omg-japan-is-fudging-its-covid-19.html

We had also stated previously that Japan would report truer covid-19 statistics after the cancellation of the Olympics.  Japan is doing exactly what we've predicted.

The 2021 Olympics may still be cancelled next year because there are some international competitions next year that will clash with the 2021 Olympics.

The US is trying to keep the US death toll below 100k.

https://www.cnbc.com/2020/03/29/president-trump-extends-national-social-distancing-guidelines-through-april-30.html

The US death toll is just 2500 now as we speak and Trump is trying to keep it under 100k.  This just goes to show that Trump is expecting the death toll to hit the high of double digits.  The US still has a long way to go and has not reached its peak yet.

The US stock markets have not factored in such a high death toll yet.

IMF declares global recession.

https://www.euronews.com/2020/03/28/imf-declares-global-recession-and-doubles-the-size-if-its-financial-war-chest

We had already warned about a recession on numerous occasions and as early as in August 2019.

https://sg-stock.blogspot.com/2019/08/a-billion-dollar-question-will-us-enter.html

http://sg-stock.blogspot.com/2019/09/ecb-cut-rates-and-restart-qe.html

http://sg-stock.blogspot.com/2020/03/weve-correctly-predicted-end-of-good-us.html

Some people laughed at us and some scorned at us for our ridiculous prediction.  Who is having the last laugh now? Hahaha!

Fitch cut UK credit rating.

https://www.theguardian.com/business/2020/mar/28/fitch-cuts-uk-credit-rating-to-aa-

We are not surprised at all.  Why?  This is because we've predicted it.

http://sg-stock.blogspot.com/2020/03/weve-correctly-predicted-end-of-good-us.html

We've stated that credit rating firms would start to downgrade the credit ratings of countries and companies, be it for economic and/or political reasons.

http://sg-stock.blogspot.com/2020/03/s-has-started-to-downgrade-its-credit.html

How many analysts will tell you this in advance?  Only we did!

Baltic dry index - 556

Today, Friday, March 27 2020, the Baltic Dry Index decreased by 13 points, reaching 556 points.

Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points.

========================

Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count - 728

Related stock: Keppe Corp, Sembcorp Marine & Cosco.

The US repo market has no bids. Hahaha!

https://sg.finance.yahoo.com/news/feds-term-repo-operation-receives-154356407.html

Nobody wants to borrow overnight money. Hahaha!

The financial market in the US had no serious liquidity problem in the first place but the US government chose to inject more than US$1T into the repo market.  We had stated this below previously.

http://sg-stock.blogspot.com/2020/03/no-us-monetary-and-fiscal-policy-can.html

People won't borrow cheap or free money to fund their businesses when there are no customers.

What's the FED going to do when people don't want to borrow cheap or free money?  I can tell you that the US FED has no idea how to deal with this predicament.

Valuetronics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/19	UOB Kay Hian	Valuetronics	0.66	0.87	Buy
01/07/19	DMG & Partners	Valuetronics	0.675	0.82	Buy
01/08/19	Kim Eng	Valuetronics	0.69	0.9	Buy	PB1.9x FY19
02/14/19	Kim Eng	Valuetronics	0.74	1.05	Buy	ROE-g/COE-g, PB2.1x FY20
02/14/19	DMG & Partners	Valuetronics	0.74	0.78	Neutral	DCF
02/14/19	CIMB	Valuetronics	0.74	0.73	Hold	PER8.5x CY19
02/15/19	UOB Kay Hian	Valuetronics	0.71	0.87	Buy
03/19/19	DMG & Partners	Valuetronics	0.69	0.78	Neutral
03/21/19	Kim Eng	Valuetronics	0.685	1.05	Buy	PB2.1x FY20
04/09/19	Kim Eng	Valuetronics	0.7	1.05	Buy
05/27/19	DMG & Partners	Valuetronics	0.61	0.67	Neutral	DCF
05/31/19	DMG & Partners	Valuetronics	0.625	0.61	Neutral	DCF
05/31/19	UOB Kay Hian	Valuetronics	0.625	0.8	Buy
06/03/19	CIMB	Valuetronics	0.605	0.63	Hold	PER8x CY20
06/11/19	Kim Eng	Valuetronics	0.64	0.99	Buy	PB2x FY20
08/16/19	Kim Eng	Valuetronics	0.62	0.94	Buy	ROE-g/COE-g, PB1.9x FY20
08/16/19	DMG & Partners	Valuetronics	0.62	0.61	Neutral	DCF
08/16/19	UOB Kay Hian	Valuetronics	0.62	0.8	Buy
10/08/19	DMG & Partners	Valuetronics	0.615	0.61	Neutral
10/11/19	UOB Kay Hian	Valuetronics	0.615	0.8	Buy	PER11x FY20
11/14/19	DMG & Partners	Valuetronics	0.725	0.81	Buy	DCF
11/14/19	Kim Eng	Valuetronics	0.725	0.98	Buy	PB2x FY20
11/14/19	UOB Kay Hian	Valuetronics	0.725	0.91	Buy	PER12x
12/10/19	DMG & Partners	Valuetronics	0.785	0.81	Buy
12/10/19	CIMB	Valuetronics	0.785	0.72	Hold
02/18/20	DMG & Partners	Valuetronics	0.735	0.76	Neutral	DCF
02/21/20	UOB Kay Hian	Valuetronics	0.71	0.85	Buy
03/11/20	CIMB	Valuetronics	0.605	0.62	Hold

UOL - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/19	OCBC	UOL	6.07	8.41	Buy
01/04/19	Lim & Tan	UOL	6	0	Buy
01/17/19	DBS Vickers	UOL	6.65	7.15	Hold
02/12/19	Lim & Tan	UOL	6.57	0	Buy
02/27/19	CIMB	UOL	6.77	8.45	Add	RNAV
02/27/19	OCBC	UOL	6.77	8.45	Buy	RNAV
02/27/19	Lim & Tan	UOL	6.77	0	Buy
02/28/19	DBS Vickers	UOL	6.75	7.15	Hold	RNAV (40% discount)
03/18/19	OCBC	UOL	6.45	8.45	Buy	RNAV
03/28/19	CIMB	UOL	6.78	8.45	Add
04/02/19	OCBC	UOL	7.11	8.45	Buy	RNAV
04/16/19	DBS Vickers	UOL	7.36	8.53	Buy	RNAV (35% discount)
05/13/19	Lim & Tan	UOL	7.26	0	Buy
05/13/19	CIMB	UOL	7.26	8.45	Add	RNAV (30% discount)
05/13/19	OCBC	UOL	7.26	8.5	Buy
05/14/19	DBS Vickers	UOL	7.08	8.53	Buy	RNAV (35% discount)
06/07/19	CIMB	UOL	6.8	8.45	Add
07/15/19	OCBC	UOL	7.61	8.5	Buy
08/13/19	OCBC	UOL	7.2	8.5	Buy
08/13/19	DBS Vickers	UOL	7.2	8.53	Buy	PB0.8x
08/13/19	Lim & Tan	UOL	7.2	0	Buy on weakness
09/10/19	DBS Vickers	UOL	7.47	8.53	Buy	RNAV (35% discount)
11/13/19	OCBC	UOL	7.91	9.25	Buy
11/13/19	Lim & Tan	UOL	7.91	0	Buy on weakness
12/03/19	Lim & Tan	UOL	7.79	0	Buy
01/02/20	DBS Vickers	UOL	8.32	9.5	Buy	RNAV (28% discount), PB0.8x
02/19/20	Macquarie	UOL	8.12	10.1	Outperform
03/02/20	OCBC	UOL	7.37	9.6	Buy	RNAV (30% discount)
03/02/20	DBS Vickers	UOL	7.37	9.5	Buy	RNAV (28% discount)
03/02/20	Lim & Tan	UOL	7.37	0	Buy on weakness
03/05/20	Macquarie	UOL	7.4	10.1	Outperform