Stock calls for 5 May 2025

Date	Analyst	Company	Last	Target	Call	Valuation
05/05/25	Uob Kay Hian	Capitaland Investment	2.53	3.42	Buy	Sum of parts
05/05/25	CIMB	CDL Hospitality	0.775	0.87	Add	DDM
05/05/25	Lim & Tan	Elite ComReit	0.29	0.35	Accumulate
05/05/25	Lim & Tan	Ifast Corp	6.3	7	Hold
05/05/25	UOB Kay Hian	Mapletree Industrial	2.02	2.73	Buy	DDM
05/05/25	CIMB	Mapletree Industrial	2.02	2.56	Add	DDM
05/05/25	UOB Kay Hian	Sheng Siong	1.76	1.97	Buy	PER20x FY25
05/05/25	DBS Vickers	Singtel	3.8	3.93	Buy	Sum of parts
05/05/25	Kim Eng	Wilmar	3.06	4.05	Buy

Baltic dry index - 1421

Related stock: Seatrium, Cosco & Pan Ocean.

US rig count (weekly) - 584

Related stock: Seatrium & Cosco.

OMG! PAP Ng Chee Meng had a dining session with a money launderer before his arrest!

This old picture between PAP Ng Chee Meng and the money launderer (Mr Su) had gone viral on the internet.  Mr Su (right) was arrested for $3B money laundering in Singapore.

Why did the former NTUC chief have a dining session with Mr Su?

Who paid for the dining session?

The ISM PMI had weakened because of the Trump's tariffs.

Missing parameter:

Estimated Local New Orders: New orders - New Export Orders = +2 - (-6.5) = +8.5

Estimated Local Material: Inventories - Imports = -2.6 - (-3) = 0.4

This April PMI report had been affected by the Trump's tariffs but its full effect would only be reflected in May 2025.

As we could see from the above table, the prices had increased marginally and the local consumption had spiked significantly (est'd +8.5) due to front-loading.  However, the producers had reduced their production in anticipation of weakening consumer demand.  Thus, the net result was a decline in the PMI to 48.7 and this won't be the worst report for 2025.

Yangzijiang Financial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/01/24	CIMB	Yangzijiang Financial	0.345	0.45	Add	Sum of parts
03/12/24	Lim & Tan	Yangzijiang Financial	0.32	0.45	Buy
06/06/24	Lim & Tan	Yangzijiang Financial	0.325	0.45	Accumulate
08/19/24	CIMB	Yangzijiang Financial	0.345	0.42	Add
12/27/24	Lim & Tan	Yangzijiang Financial	0.4	0	Buy
04/01/25	Lim & Tan	Yangzijiang Financial	0.795	0.66	Hold

XMH - Stock calls

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

Winking - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/04/24	UOB Kay Hian	Winking	0.265	0.35	Buy	PER17x FY24
04/29/24	Amfrasers	Winking	0.25	0.34	Outperform	DCF
08/23/24	UOB Kay Hian	Winking	0.29	0.38	Buy
08/26/24	Amfrasers	Winking	0.29	0.35	Outperform	DCF