Singapore Stock Exchange - Equity Investments

Monday, March 15, 2021

Stock calls for 15 March 2021

Date	Analyst	Company	Last	Target	Call	Valuation
03/15/21	Amfrasers	AEM	3.86	5.05	Outperform	PER14x FY21
03/15/21	DBS Vickers	Bumitama	0.475	0.66	Buy
03/15/21	CIMB	Dairy Farm	4.51	5.4	Add	PER22x FY22
03/15/21	DBS Vickers	Dairy Farm	4.51	5.02	Buy	Sum of parts
03/15/21	DMG & Partners	Dairy Farm	4.51	4.78	Neutral	PER21x FY21
03/15/21	DBS Vickers	First Resources	1.44	1.83	Buy
03/15/21	Kim Eng	Frencken	1.39	1.74	Buy	PER14.5x FY21
03/15/21	UOB Kay Hian	Koufu	0.665	0.77	Buy
03/15/21	Lim & Tan	Oceanus	0.036	0	Caution
03/15/21	CIMB	Sembcorp Industries	1.82	1.97	Add	PB1x CY21
03/15/21	Kim Eng	UMS	1.16	1.57	Buy	PER15x FY21
03/15/21	DMG & Partners	Wilmar	5.34	6.3	Buy
03/15/21	DBS Vickers	Wilmar	5.34	6.67	Buy

New lockdowns are coming in Europe!

https://sg.news.yahoo.com/third-covid-wave-sweeps-across-104529369.html

EU is contemplating new lockdowns now because of resurging covid infections which are probably due to the new variants.

We had already warned about the resurging infections last week!

http://sg-stock.blogspot.com/2021/03/covid-cases-are-rising-in-europe-and.html

The West is behind the Myanmar's protests again!

I've been observing Myanmar's situation and I will share my observations here.

Myanmar's generals did a military coup to wrestle control from Aung San Suu Kyi after suffering a major defeat in its election. Thereafter, huge protests manifested in Myanmar.

Then, the Myanmar junta leader sought advice from Thailand because the current Thailand PM had done a successful military coup before and continue to stay in power. The junta leader hoped that he could learn from the Thai's lesson too.

https://www.channelnewsasia.com/news/asia/myanmar-junta-min-aung-hlaing-prayut-chan-o-cha-help-14161958

Instead of protesting outside Thailand's embassy, the Myanmarese protested outside China's embassy for supporting the junta leader. The Myanmarese ignored the fact that the Thai PM was providing advice to the junta leader and singled out China. This raised an alarming uncanny feeling in me as the Myanmarese are barking up the wrong tree.

https://www.channelnewsasia.com/news/asia/myanmar-anti-coup-protesters-rally-at-chinese-embassy-14171132

Next, China, Russia, Vietnam and India vetoed a UN condemnation for Myanmar's military coup. However, only China was singled out again as a reprehensible member by the Western media.

https://sg.news.yahoo.com/child-screams-myanmar-china-pretends-073025346.html

It looks like whenever something happens, the west will label China as a heinous culprit. I think this has gone too far and too much. It's like whenever you have constipation, you can blame it on China too.

Sunday, March 14, 2021

The US is facing rising rates pressure in 2021. - Part 4

The 10-year yield (risk-free rate) had crossed 1.6% already.

The 10-year note price had continued its downward trend because of its inverse relationship to the yield.

If you want to know the proximate cause of the spike in bond yield, please read our previous post below.

http://sg-stock.blogspot.com/2021/02/the-us-is-facing-rising-rates-pressure.html

Baltic dry index = 1960

Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count (weekly) = 402

Related stock: Sembcorp Marine & Cosco.

Friday, March 12, 2021

Boustead - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/08/20	Lim & Tan	Boustead	0.645	0	Accumulate
07/15/20	CIMB	Boustead	0.705	1	Add
11/17/20	CIMB	Boustead	0.78	1.2	Add	Sum of parts

Avi-Tech - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/02/20	CIMB	Avi-Tech	0.39	0.422	Add
06/24/20	Lim & Tan	Avi-Tech	0.385	0	Buy
06/26/20	UOB Kay Hian	Avi-Tech	0.39	0.57	Buy
07/03/20	DMG & Partners	Avi-Tech	0.41	0.5	Buy	DCF
08/31/20	CIMB	Avi-Tech	0.43	0.492	Add
08/31/20	UOB Kay Hian	Avi-Tech	0.43	0.495	Buy
09/18/20	DMG & Partners	Avi-Tech	0.42	0.52	Buy	DCF
09/21/20	Lim & Tan	Avi-Tech	0.42	0.505	Buy	PER13.9x FY21
10/08/20	Lim & Tan	Avi-Tech	0.425	0	Buy
01/20/21	Lim & Tan	Avi-Tech	0.485	0	Take Profit
02/10/21	Lim & Tan	Avi-Tech	0.475	0	Take Profit
02/15/21	DMG & Partners	Avi-Tech	0.42	0.42	Neutral

Ascendas India Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/29/20	DBS Vickers	Ascendas India Trust	1.33	1.85	Buy	DDM
01/29/21	DBS Vickers	Ascendas India Trust	1.55	1.85	Buy	DDM
02/23/21	DBS Vickers	Ascendas India Trust	1.51	1.85	Buy
03/09/21	DBS Vickers	Ascendas India Trust	1.49	1.85	Buy	DDM

Stock calls for 12 March 2021

Date	Analyst	Company	Last	Target	Call	Valuation
03/12/21	DMG & Partners	ARA Logistics	0.715	0.78	Buy
03/12/21	Soochow	Cordlife	0.37	0.52	Buy
03/12/21	UOB Kay Hian	Elite ComReit	0.655	0.95	Buy	DDM
03/12/21	DBS Vickers	Keppel Pacific	0.69	0.85	Buy
03/12/21	DBS Vickers	Prime US Reit	0.795	1	Buy	DDM
03/12/21	CIMB	SGX	10.05	11.61	Add	PER25x FY22