Nanofilm - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/26/24	DBS Vickers	Nanofilm	0.735	0.63	Hold	PER18x FY24
02/28/24	UOB Kay Hian	Nanofilm	0.82	0.6	Sell	PER16x FY24
04/23/24	DBS Vickers	Nanofilm	0.61	0.63	Hold	PER18x FY24
04/24/24	UOB Kay Hian	Nanofilm	0.64	0.56	Sell	PER16x FY24
06/03/24	DBS Vickers	Nanofilm	0.77	0.63	Fully Valued	PER18x FY24
06/03/24	CIMB	Nanofilm	0.77	0.7	Hold
06/03/24	UOB Kay Hian	Nanofilm	0.77	0.5	Sell	PER16x FY24
07/11/24	DBS Vickers	Nanofilm	0.91	0.63	Hold	PER18x FY24
07/11/24	Lim & Tan	Nanofilm	0.91	0.64	Sell
08/14/24	DBS Vickers	Nanofilm	0.785	0.63	Hold
08/15/24	DBS Vickers	Nanofilm	0.72	0.75	Hold	PER18x FY25
08/19/24	CIMB	Nanofilm	0.715	0.59	Reduce
09/17/24	Lim & Tan	Nanofilm	0.82	0.6	Sell
10/08/24	Lim & Tan	Nanofilm	0.88	0.54	Sell
10/29/24	DBS Vickers	Nanofilm	0.825	0.75	Hold
10/30/24	UOB Kay Hian	Nanofilm	0.85	0.68	Sell	PER18x FY25
11/27/24	OCBC	Nanofilm	0.785	0.76	Hold
01/20/25	DBS Vickers	Nanofilm	0.77	0.75	Hold
01/22/25	CIMB	Nanofilm	0.77	0.63	Reduce
02/27/25	DBS Vickers	Nanofilm	0.705	0.72	Hold	PER22x FY25
02/27/25	CIMB	Nanofilm	0.705	0.63	Reduce
02/28/25	UOB Kay Hian	Nanofilm	0.7	0.5	Sell
03/14/25	Lim & Tan	Nanofilm	0.66	0.55	Sell

Mermaid Maritime - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/03/24	Lim & Tan	Mermaid Maritime	0.19	0.3	Buy
09/30/24	CIMB	Mermaid Maritime	0.158	0.2	Add
10/08/24	CIMB	Mermaid Maritime	0.18	0.2	Add
11/18/24	CIMB	Mermaid Maritime	0.128	0.16	Add

Stock calls for 2 April 2025

Date	Analyst	Company	Last	Target	Call	Valuation
04/02/25	DMG & Partners	Dairy Farm	2.33	3.03	Buy	Sum of parts
04/02/25	OCBC	Keppel Infrastructure	0.42	0.5	Buy
04/02/25	UOB Kay Hian	Keppel Pacific	0.2	0.24	Buy	DDM
04/02/25	CIMB	Q&M	0.3	0.43	Add
04/02/25	DBS Vickers	Sembcorp Industries	6.42	8	Buy	PER13x FY25
04/02/25	Lim & Tan	Sembcorp Industries	6.42	7.3	Accumulate
04/02/25	Lim & Tan	Singapore Post	0.615	0.75	Buy

The US ISM PMI dipped into contractionary zone again (49) and this might just be the beginning.

Missing parameter:

Estimated Local New Orders: New orders - New Export Orders = -3.4 - (-1.8) = -1.6

Estimated Local Material: Inventories - Imports = 3.5 - 2.5 = 1

Although the latest ISM PMI was rather meaningless because it didn't fully factored in Trump's tariffs, we'll still do a simple analysis to perform a health check on the US manufacturing industry that was in a contractionary zone (below 50).

The PMI prices were rising despite the US consumers cutting back on their spendings (Local New Orders were -1.6).  The US producers also cut back on their production and employment to prepare for the economic slowdown induced by Trump's tariffs.

All these didn't bode well for the US economic growth because the subcomponents were depicting a stagflation (economic slowdown with rising inflation).