Ascendas Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/16/24	DMG & Partners	A-Reit	2.55	3.2	Buy	DDM
12/17/24	DBS Vickers	A-Reit	2.55	3.25	Buy	DCF
12/18/24	Lim & Tan	A-Reit	2.55	3.19	Accumulate
12/19/24	OCBC	A-Reit	2.55	3.32	Buy
01/02/25	UOB Kay Hian	A-Reit	2.57	3.74	Buy	DDM
01/10/25	DMG & Partners	A-Reit	2.58	3.2	Buy	DDM
02/07/25	DBS Vickers	A-Reit	2.59	3.2	Buy	DCF
02/07/25	CIMB	A-Reit	2.59	3.1	Add	DDM
02/07/25	Lim & Tan	A-Reit	2.59	3.19	Accumulate
02/10/25	UOB Kay Hian	A-Reit	2.64	3.51	Buy	DDM
02/10/25	DMG & Partners	A-Reit	2.64	3.2	Buy	DDM
02/10/25	MorningStar	A-Reit	2.64	2.9	4-Star
02/10/25	OCBC	A-Reit	2.64	3.3	Buy
03/06/25	UOB Kay Hian	A-Reit	2.55	3.51	Buy	DDM
04/01/25	UOB Kay Hian	A-Reit	2.67	3.51	Buy	DDM
04/17/25	DMG & Partners	A-Reit	2.62	3.2	Buy	DDM
04/29/25	DBS Vickers	A-Reit	2.68	3.2	Buy	DCF
04/29/25	OCBC	A-Reit	2.68	3.21	Buy
05/21/25	UOB Kay Hian	A-Reit	2.58	3.51	Buy	DDM
05/28/25	Lim & Tan	A-Reit	2.61	3.12	Accumulate
05/29/25	CIMB	A-Reit	2.61	3.1	Add	DDM
06/13/25	DBS Vickers	A-Reit	2.6	3.2	Buy	DCF
06/18/25	UOB Kay Hian	A-Reit	2.64	3.58	Buy	DDM
06/27/25	UOB Kay Hian	A-Reit	2.66	4.02	Buy	DDM
07/16/25	CIMB	A-Reit	2.75	3.1	Add	DDM
08/01/25	UOB Kay Hian	A-Reit	2.79	4.02	Buy	DDM
08/05/25	CIMB	A-Reit	2.88	3.15	Add	DDM
08/05/25	Lim & Tan	A-Reit	2.88	3.15	Accumulate on weakness
08/06/25	DMG & Partners	A-Reit	2.75	3.2	Buy	DDM
09/01/25	UOB Kay Hian	A-Reit	2.72	4.02	Buy	DDM
10/01/25	UOB Kay Hian	A-Reit	2.79	4.02	Buy	DDM
10/07/25	DBS Vickers	A-Reit	2.85	3.2	Buy	DCF
10/07/25	Lim & Tan	A-Reit	2.85	3.15	Accumulate on weakness
10/30/25	DMG & Partners	A-Reit	2.87	3.2	Buy	DDM
11/03/25	UOB Kay Hian	A-Reit	2.82	4.02	Buy	DDM
11/03/25	DBS Vickers	A-Reit	2.82	3.2	Buy	DCF
11/03/25	CIMB	A-Reit	2.82	3.27	Add	DDM
11/03/25	Lim & Tan	A-Reit	2.82	3.18	Accumulate on weakness
12/22/25	DMG & Partners	A-Reit	2.79	3.2	Buy	DDM
12/01/25	UOB Kay Hian	A-Reit	2.81	4.02	Buy	DDM
12/30/25	Lim & Tan	A-Reit	2.82	3.27	Accumulate on weakness

17Live Group - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/06/25	Lim & Tan	17Live Group	0.94	1.8	Accumulate
03/04/25	Phillip	17Live Group	0.845	1.28	Buy	DCF
03/05/25	Lim & Tan	17Live Group	0.83	1.28	Accumulate
07/11/25	Lim & Tan	17Live Group	1.09	1.3	Accumulate
08/14/25	Phillip	17Live Group	1.05	1.28	Buy	DCF
10/13/25	Phillip	17Live Group	0.96	1.45	Buy	DCF

Zixin - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/13/25	phillip	Zixin	0.03	0.056	Buy	DCF
05/08/25	Amfrasers	Zixin	0.028	0.06	Outperform	DCF
06/03/25	phillip	Zixin	0.034	0.06	Buy	DCF
06/10/25	Amfrasers	Zixin	0.033	0.06	Outperform	DCF
09/22/25	phillip	Zixin	0.031	0.06	Buy	DCF
11/11/25	Lim & Tan	Zixin	0.036	0.066	Buy	PER10x FY26
11/28/25	phillip	Zixin	0.034	0.055	Buy	DCF
12/01/25	Amfrasers	Zixin	0.034	0.048	Outperform	DCF
12/02/25	Lim & Tan	Zixin	0.033	0.066	Buy	PER10x FY26

Stock calls for 30 December 2025

Date	Analyst	Company	Last	Target	Call	Valuation
12/30/25	Lim & Tan	A-Reit	2.82	3.27	Accumulate on weakness

Yanlord - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/05/25	DBS Vickers	Yanlord	0.485	0.5	Hold	PB0.17x
08/15/25	DBS Vickers	Yanlord	0.585	0.5	Hold	PB0.17x
08/19/25	DBS Vickers	Yanlord	0.62	0.58	Hold	PB0.2x

Yangzijiang Shipping - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/03/24	DBS Vickers	Yangzijiang Shipping	2.43	2.88	Buy
12/03/24	Lim & Tan	Yangzijiang Shipping	2.43	3.25	Accumulate
01/02/25	UOB Kay Hian	Yangzijiang Shipping	2.99	3.6	Buy	PER9.7x
01/08/25	CIMB	Yangzijiang Shipping	2.95	3.62	Add
02/03/25	UOB Kay Hian	Yangzijiang Shipping	3.05	3.6	Buy	PER9.7x
02/04/25	DBS Vickers	Yangzijiang Shipping	3.03	3.8	Buy	PB2.5x FY25, PER11x FY25
02/28/25	UOB Kay Hian	Yangzijiang Shipping	2.44	3.5	Buy	PER9.5x
03/05/25	Lim & Tan	Yangzijiang Shipping	2.34	3.36	Accumulate
03/25/25	DBS Vickers	Yangzijiang Shipping	2.4	3.8	Buy	PB2.5x FY25, PER11x FY25
04/09/25	Lim & Tan	Yangzijiang Shipping	1.9	3.3	Accumulate on weakness
04/21/25	DBS Vickers	Yangzijiang Shipping	2.06	3.8	Buy	PB2.5x FY25, PER11x FY25
05/07/25	UOB Kay Hian	Yangzijiang Shipping	2.06	3.5	Buy	PER9.6x
05/23/25	DBS Vickers	Yangzijiang Shipping	2.14	3.8	Buy	PB2.5x FY25, PER11x FY25
05/26/25	UOB Kay Hian	Yangzijiang Shipping	2.05	3.29	Buy	PER9.1x
05/26/25	CIMB	Yangzijiang Shipping	2.05	2.72	Add	PER
08/07/25	UOB Kay Hian	Yangzijiang Shipping	2.63	3.45	Buy	PER8.6x
08/07/25	DBS Vickers	Yangzijiang Shipping	2.63	3.8	Buy	PB2.5x FY25, PER11x FY25
08/07/25	CIMB	Yangzijiang Shipping	2.63	3.9	Add	PER
09/01/25	DBS Vickers	Yangzijiang Shipping	2.91	3.8	Buy	PB2.5x FY25, PER11x FY25
09/04/25	UOB Kay Hian	Yangzijiang Shipping	3.06	3.6	Buy	PER8.5x
09/29/25	Lim & Tan	Yangzijiang Shipping	3.28	3.73	Accumulate on weakness
10/10/25	DBS Vickers	Yangzijiang Shipping	3.44	3.8	Buy	PB2.5x FY25, PER11x FY25
10/27/25	UOB Kay Hian	Yangzijiang Shipping	3.47	3.9	Buy	PER9.3x FY26
11/18/25	DBS Vickers	Yangzijiang Shipping	3.42	3.8	Buy	PB2.5x FY25, PER11x FY25
11/19/25	UOB Kay Hian	Yangzijiang Shipping	3.26	4.1	Buy	PER9.3x FY26
11/20/25	CIMB	Yangzijiang Shipping	3.35	4.51	Add	PER
12/08/25	UOB Kay Hian	Yangzijiang Shipping	3.43	4.1	Buy	PER9.3x FY26

Yangzijiang Maritime - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/21/25	DBS Vickers	Yangzijiang Maritime	0.695	0.85	Buy	PB1.4x

Stock calls for 29 December 2025

Date	Analyst	Company	Last	Target	Call	Valuation
12/29/25	Amfrasers	Centurion	1.34	1.8	Outperform	DCF

Chinese citizens bashed PM Wong over Sino-Japan spat. - Part 11

PM Wong continued to infuriate and antagonize China!

We need to hang on for a rough ride under PM Wong's leadership because he will keep offending China.  A big economy like China won't just tolerate any nonsensical attack from a small country like Singapore.  Singapore will become a sunset country if we keep offending China because the US will abandon Singapore in the end.

https://inf.news/en/world/45714017d2e5ca88269b24a2e211471a.html

Baltic dry index - 1877

 
Related stock: Seatrium, Cosco & Pan Ocean.

US rig count (weekly) - 545

Related stock: Seatrium & Cosco.

Yangzijiang Financial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/27/24	Lim & Tan	Yangzijiang Financial	0.4	0	Buy
04/01/25	CIMB	Yangzijiang Financial	0.795	1.09	Add
04/01/25	Lim & Tan	Yangzijiang Financial	0.795	0.66	Hold
09/09/25	CIMB	Yangzijiang Financial	1.09	1.25	Add	Sum of parts
10/02/25	Lim & Tan	Yangzijiang Financial	1.18	1.25	Hold
11/21/25	DBS Vickers	Yangzijiang Financial	0.5	0.48	Hold	PB0.9x (ex-maritime)

XMH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/13/24	Lim & Tan	XMH	0.365	0	Accumulate
12/16/25	Lim & Tan	XMH	0.153	0	Accumulate

Winking - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/25/25	Amfrasers	Winking	0.255	0.31	Outperform	DCF

Stock calls for 26 December 2025

Date	Analyst	Company	Last	Target	Call	Valuation
12/26/25	Lim & Tan	Frasers Centrepoint Trust	2.31	2.6	Accumulate on weakness

The quarterly core PCE inflation is rearing its head again.

The US government is struggling to bring down its inflation to the Fed's target of 2%.

The latest US GDP figure is severely skewed by the government shutdown.

Let's break down the GDP numbers to see what had happened.

GDP growth = G + I + C + NE

Q2 GDP (Final estimate) = (-0.01) + (-2.66) + 1.68 + 4.83 = 3.84 (3.8)

Q3 GDP (First estimate) = 0.39 + (-0.02) + 2.39 + 1.59 = 4.35 (4.3)

We can ignore this fantastic GDP headline figure because it is heavily skewed by the US government shutdown.  Many micro GDP component data had been skewed and these skewed data had caused the headline GDP figure to spike.  The next GDP figure will crash because of this skewed effect.

Wing Tai - Stock calls

 

Date	Analyst	Company	Last	Target	Call	Valuation
08/27/25	Lim & Tan	Wing Tai	1.4	0	Hold