Singapore Stock Exchange - Equity Investments

Monday, May 3, 2021

Raffles Medical - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/28/20	DMG & Partners	Raffles Medical	0.92	0.91	Neutral	DCF
07/28/20	UOB Kay Hian	Raffles Medical	0.92	1.07	Buy	DCF
07/28/20	CIMB	Raffles Medical	0.92	0.96	Hold
07/28/20	Kim Eng	Raffles Medical	0.92	0.99	Hold	DCF
07/28/20	OCBC	Raffles Medical	0.92	0.96	Hold
07/28/20	DBS Vickers	Raffles Medical	0.92	0.95	Hold	Sum of parts
07/28/20	Lim & Tan	Raffles Medical	0.92	0	Hold
07/29/20	phillip	Raffles Medical	0.92	0.94	Neutral	DCF
10/01/20	Kim Eng	Raffles Medical	0.81	0.99	Buy	DCF
12/11/20	UOB Kay Hian	Raffles Medical	0.855	1.07	Buy	DCF
02/22/21	Lim & Tan	Raffles Medical	0.985	0	Hold
02/23/21	Kim Eng	Raffles Medical	1.02	1.1	Buy	DCF
02/23/21	UOB Kay Hian	Raffles Medical	1.02	1.12	Buy
02/24/21	OCBC	Raffles Medical	1.04	1.15	Buy	DCF, PER30.7x FY21
02/26/21	phillip	Raffles Medical	1.07	1.18	Accumulate	DCF
04/07/21	DMG & Partners	Raffles Medical	1.17	1.29	Buy

Stock calls for 3 May 2021

Date	Analyst	Company	Last	Target	Call	Valuation
05/03/21	CIMB	ART	1.06	1.2	Add
05/03/21	OCBC	CDL Hospitality	1.25	1.38	Buy
05/03/21	CIMB	CDL Hospitality	1.25	1.43	Add
05/03/21	DMG & Partners	CDL Hospitality	1.25	1.25	Neutral
05/03/21	Kim Eng	CDL Hospitality	1.25	1.3	Hold
05/03/21	CIMB	China Sunsine	0.565	0.66	Add
05/03/21	DBS Vickers	Cromwell EUR	0.475	0.6	Buy	DCF
05/03/21	phillip	DBS	29.91	31.4	Accumulate	GGM, PB1.36x FY21
05/03/21	UOB Kay Hian	DBS	29.91	35.45	Buy
05/03/21	DMG & Partners	DBS	29.91	34	Buy
05/03/21	Jefferies	DBS	29.91	33.5	Buy
05/03/21	CIMB	Far East Hospitality	0.63	0.745	Add	DDM
05/03/21	Phillip	First Ship Lease Trust	0.09	0.03	Accumulate	PB0.9x FY22
05/03/21	CIMB	Japfa	0.915	1.22	Add
05/03/21	UOB Kay Hian	Japfa	0.915	1.17	Buy
05/03/21	CIMB	Mapletree Commercial	2.19	2.32	Hold
05/03/21	OCBC	Mapletree Commercial	2.19	2.2	Hold
05/03/21	CIMB	Mapletree Industrial	2.83	3.05	Add	DDM
05/03/21	UOB Kay Hian	Mapletree Industrial	2.83	3.55	Buy
05/03/21	Phillip	Micro-Mechanics	3.33	3.02	Neutral	PER21x FY21, Ex-cash
05/03/21	Lim & Tan	Sembcorp Marine	0.21	0	Hold
05/03/21	Phillip	Venture	20.15	19.2	Neutral	PER16x FY21
05/03/21	DBS Vickers	Venture	20.15	22.7	Buy	PER20.5x FY21
05/03/21	UOB Kay Hian	Venture	20.15	23.47	Buy
05/03/21	Lim & Tan	Venture	20.15	0	Hold
05/03/21	UOB Kay Hian	Yangzijiang	1.43	1.76	Buy

Sunday, May 2, 2021

The real motive behind the US green technology movement. - Part 2.

Which country is more likely to cut down its carbon emissions more successfully?

Although the US is a service-based economy with less than 15% manufacturing sector, its energy generation structure is worse than China.

Let's break down the energy sectors in the US and China.

US:

Fossil fuel (gas=38%, coal=23%): 61%

Nuclear: 20%

Green energy (Wind and solar): 17%

China:

Fossil fuel: 57.7%

Nuclear: 2.03%

Green energy (Wind=11.7% and solar=11.1%): 22.8%

Hydroelectricity: 17.2%

In order for the US to reduce its carbon emissions, the US has to reclassify nuclear energy as a source of green energy despite it producing radioactive waste. Therefore, the US is replacing one type of pollution with another.

This will allow China to ramp up its nuclear power stations since it has a low percentage (2.03%) in its energy infrastructure. China is also able to reduce its carbon emissions by reducing its internal flights as it has about 38,000km of high-speed railway.

https://en.wikipedia.org/wiki/High-speed_rail_in_China

However, the US is unable to reduce its internal flights because it has no high-speed railway for its citizens to move around.

Therefore, we can see that China has a more diversified energy infrastructure than the US. Furthermore, China wants to commercialize its nuclear fusions in 2050 which will allow China to be a carbon-neutral country in 2060 as stipulated by President Xi.

http://epaper.chinadaily.com.cn/a/202101/08/WS5ff796a0a31099a2343531ab.html