Overseas Edu - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/17/20	Lim & Tan	Overseas Edu	0.365	0	Buy
02/18/20	UOB Kay Hian	Overseas Edu	0.365	0.49	Buy
06/18/20	Lim & Tan	Overseas Edu	0.32	0	Buy on weakness
06/18/20	CIMB	Overseas Edu	0.32	0.423	Add
08/17/20	Lim & Tan	Overseas Edu	0.29	0	Buy
09/02/20	CIMB	Overseas Edu	0.28	0.26	Hold

Stock calls for 5 February 2021

Date	Analyst	Company	Last	Target	Call	Valuation
02/05/21	DBS Vickers	AIMS AMP Cap Ind Reit	1.28	1.5	Buy	DCF, PB1.11x
02/05/21	UOB Kay Hian	BRC Asia	1.6	2	Buy
02/05/21	DMG & Partners	Comfortdelgro	1.59	1.9	Buy
02/05/21	CIMB	Frasers Logistics	1.22	1.57	Add	DDM
02/05/21	OCBC	OUE Commercial	0.385	0.4	Hold
02/05/21	CIMB	SIA	4.17	4.89	Add	PB0.94x FY22
02/05/21	Lim & Tan	SIA	4.17	0	Avoid
02/05/21	UOB Kay Hian	Singapore Post	0.69	0.75	Hold	Buy @ $0.66
02/05/21	DBS Vickers	Singapore Post	0.69	0.74	Hold	DCF
02/05/21	Phillip	Yoma	0.2	0.34	Buy	Sum of parts (20% discount)

China's monetary tightening will impact the USD. Why?

https://sg.news.yahoo.com/china-monetary-tightening-seen-warning-110908760.html

China's monetary tightening will have some impact on the USD and this can be seen on the credit impulse & US DXY chart.

The uptrend in US DXY means USD depreciation (inverse right axis) and vice versa.  The chart is depicted in such a way to show the high correlation.  The 2 lines may have a time lag of 6-12 months but they are still highly correlated to each other.

When China's credit impulse increases, the US DXY will increase too.  However, China's monetary tightening will decrease its credit impulse and will also lead to a decrease in US DXY.

How true is this?  We'll look at the USD index now.

As we can see, the USD index is reacting to China's monetary policy by trending higher recently.  As the USD and the risk-free rate (10y) are highly correlated, we should see the US treasury yields trending up too.

The US treasury yield for 10-year has increased from 0.93% to 1.15% now.

OUE Commercial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/03/20	OCBC	OUE Commercial	0.545	0.55	Hold
02/03/20	DBS Vickers	OUE Commercial	0.545	0.6	Buy	DCF
02/13/20	CIMB	OUE Commercial	0.525	0.53	Hold	DDM
03/30/20	DBS Vickers	OUE Commercial	0.335	0.6	Buy
03/30/20	OCBC	OUE Commercial	0.335	0.4	Hold
06/08/20	DBS Vickers	OUE Commercial	0.4	0.5	Buy	DCF
06/08/20	CIMB	OUE Commercial	0.4	0.482	Hold
07/27/20	Lim & Tan	OUE Commercial	0.395	0	Buy on weakness
07/28/20	CIMB	OUE Commercial	0.39	0.482	Hold
08/04/20	OCBC	OUE Commercial	0.37	0.39	Hold
11/17/20	OCBC	OUE Commercial	0.35	0.39	Buy
12/10/20	DBS Vickers	OUE Commercial	0.38	0.5	Buy
01/29/21	Lim & Tan	OUE Commercial	0.385	0	Accumulate
02/03/21	CIMB	OUE Commercial	0.4	0.415	Hold	DDM

OUE - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/19/20	OCBC	OUE	1.15	1.22	Hold

Olam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/23/20	Lim & Tan	Olam	1.5	0	Buy on weakness

Stock calls for 4 February 2021

Date	Analyst	Company	Last	Target	Call	Valuation
02/04/21	Kim Eng	Comfortdelgro	1.58	1.88	Buy	DCF
02/04/21	phillip	DBS	25.2	22.6	Neutral
02/04/21	phillip	OCBC	10.36	9.68	Neutral
02/04/21	DBS Vickers	Straits Trading	2.33	3.5	Buy	Sum of parts (40% discount)
02/04/21	phillip	UOB	23.52	21.1	Neutral