Singapore Stock Exchange - Equity Investments

Thursday, November 25, 2021

ARA Logistics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/06/21	UOB Kay Hian	ARA Logistics	0.595	0.85	Buy	DDM
01/14/21	DMG & Partners	ARA Logistics	0.67	0.74	Buy
01/27/21	Kim Eng	ARA Logistics	0.675	0.8	Buy	DDM
01/28/21	UOB Kay Hian	ARA Logistics	0.71	0.89	Buy
01/28/21	CIMB	ARA Logistics	0.71	0.749	Add	DDM
01/28/21	DBS Vickers	ARA Logistics	0.71	0.8	Buy
02/23/21	DBS Vickers	ARA Logistics	0.715	0.8	Buy
03/04/21	UOB Kay Hian	ARA Logistics	0.715	0.89	Buy
03/12/21	DMG & Partners	ARA Logistics	0.715	0.78	Buy
04/21/21	DBS Vickers	ARA Logistics	0.735	0.8	Buy
04/26/21	CIMB	ARA Logistics	0.75	0.814	Add	DDM
04/28/21	UOB Kay Hian	ARA Logistics	0.765	0.89	Buy	DDM
05/27/21	DMG & Partners	ARA Logistics	0.77	0.85	Buy
06/10/21	DBS Vickers	ARA Logistics	0.815	0.85	Buy
06/29/21	UOB Kay Hian	ARA Logistics	0.84	0.89	Buy
07/23/21	DBS Vickers	ARA Logistics	0.88	1	Buy	DCF
07/23/21	UOB Kay Hian	ARA Logistics	0.88	1.02	Buy	DDM
07/23/21	DMG & Partners	ARA Logistics	0.88	0.95	Buy
07/23/21	CIMB	ARA Logistics	0.88	0.961	Add	DDM
07/29/21	Kim Eng	ARA Logistics	0.9	0.95	Buy	DDM
09/20/21	UOB Kay Hian	ARA Logistics	0.935	1.02	Buy
10/08/21	UOB Kay Hian	ARA Logistics	0.905	1.07	Buy	DDM
10/18/21	UOB Kay Hian	ARA Logistics	0.89	1.07	Accept Offer	DDM
10/18/21	Lim & Tan	ARA Logistics	0.89	0	Accept Offer
10/18/21	DMG & Partners	ARA Logistics	0.89	0.95	Take Profit
10/27/21	CIMB	ARA Logistics	0.885	0.978	Add	DDM

ARA Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/07/21	DBS Vickers	ARA Hospitality	0.485	0.69	Buy	DCF
03/23/21	DBS Vickers	ARA Hospitality	0.555	0.69	Buy
07/09/21	DBS Vickers	ARA Hospitality	0.555	0.79	Buy	DCF
08/20/21	DBS Vickers	ARA Hospitality	0.495	0.75	Buy	DCF

Stock calls for 25 November 2021

Date	Analyst	Company	Last	Target	Call	Valuation
11/25/21	DBS Vickers	AEM	4.95	6.04	Buy	PER15x FY22
11/25/21	DBS Vickers	CSE Global	0.5	0.6	Buy	PER11.5x FY22
11/25/21	Lim & Tan	Jumbo	0.3	0	Hold
11/25/21	CIMB	Mapletree North Asia	1.05	1.13	Add	DDM
11/25/21	Macquarie	SGX	9.29	12.8	Outperform	DDM
11/25/21	UOB Kay Hian	SGX	9.29	9.41	Hold	PER23.8x FY22

The USD has been trending up. Why?

We had stated as early as Feb 2021 that the USD would be trending up because of impacts from China's credit impulse and we had been proven right again.

http://sg-stock.blogspot.com/2021/02/chinas-monetary-tightening-will-impact.html

As projected, the USD had been trending up recently. We had explained previously that the USD trajectory would lag the credit impulse.

http://sg-stock.blogspot.com/2021/06/why-is-there-discrepancy-in.html

Wednesday, November 24, 2021

Asian Pay TV (APTV) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/21	Phillip	APTV	0.118	0.15	Buy
03/08/21	Phillip	APTV	0.107	0.15	Buy	EV/Ebitda9x FY21
08/16/21	Phillip	APTV	0.131	0.15	Buy	EV/Ebitda9x FY21
11/16/21	Phillip	APTV	0.138	0.15	Accumulate	EV/Ebitda9x FY21

APAC Realty - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/24/21	DMG & Partners	APAC Realty	0.425	0.55	Buy	DCF
02/25/21	DBS Vickers	APAC Realty	0.44	0.61	Buy	PER11.4x FY21
02/25/21	CIMB	APAC Realty	0.44	0.675	Add	DCF
04/22/21	DBS Vickers	APAC Realty	0.51	0.61	Buy
05/14/21	CIMB	APAC Realty	0.49	0.865	Add
05/14/21	DBS Vickers	APAC Realty	0.49	0.74	Buy	PER10x FY21
05/14/21	DMG & Partners	APAC Realty	0.49	0.7	Buy
08/13/21	DBS Vickers	APAC Realty	0.815	1.05	Buy	PER14x FY21
08/13/21	CIMB	APAC Realty	0.815	0.94	Add
08/16/21	CIMB	APAC Realty	0.89	0.96	Add
08/18/21	DMG & Partners	APAC Realty	0.93	0.88	Neutral	PER13x
10/07/21	DBS Vickers	APAC Realty	0.76	1.05	Buy
11/15/21	DBS Vickers	APAC Realty	0.835	0.88	Hold	PER10x
11/16/21	CIMB	APAC Realty	0.835	0.996	Add
11/17/21	DMG & Partners	APAC Realty	0.81	0.9	Neutral