Singapore Stock Exchange - Equity Investments

Friday, April 29, 2022

Sasseur - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/01/21	Kim Eng	Sasseur	0.84	1.05	Buy	DDM
03/02/21	CIMB	Sasseur	0.86	0.909	Add
06/14/21	DBS Vickers	Sasseur	0.925	1.1	Buy	DCF
08/16/21	CIMB	Sasseur	0.95	1.03	Add	DDM
08/18/21	Kim Eng	Sasseur	0.925	1.05	Buy
08/19/21	Amfrasers	Sasseur	0.935	0.97	Neutral	DDM
11/16/21	Kim Eng	Sasseur	0.895	1.05	Buy	DDM
11/23/21	UOB Kay Hian	Sasseur	0.895	1.05	Buy
02/18/22	DBS Vickers	Sasseur	0.83	1.1	Buy	DCF
02/21/22	DBS Vickers	Sasseur	0.85	1.15	Buy	DCF
02/21/22	Kim Eng	Sasseur	0.85	1.1	Buy	DDM
02/21/22	CIMB	Sasseur	0.85	1.06	Add

Sarine - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/06/21	Amfrasers	Sarine	0.565	0.49	Underperform	PER25x FY22
05/07/21	Amfrasers	Sarine	0.575	0.65	Buy	PER25x FY22
05/14/21	Amfrasers	Sarine	0.57	0.82	Outperform
05/31/21	Kim Eng	Sarine	0.605	0.7	Buy	DCF, PER14.4x FY22
08/06/21	Kim Eng	Sarine	0.825	0.94	Buy	DCF
03/11/22	DBS Vickers	Sarine	0.515	0.45	Fully Valued	PER15.5x FY22

Stock calls for 28 April 2022

Date	Analyst	Company	Last	Target	Call	Valuation
04/28/22	Kim Eng	AEM	4.77	6.34	Buy
04/28/22	DBS Vickers	AIMS AMP Cap Ind Reit	1.42	1.55	Buy	DCF
04/28/22	DMG & Partners	AIMS AMP Cap Ind Reit	1.42	1.66	Buy	DDM
04/28/22	UOB Kay Hian	Choo Chiang	0.375	0.56	Buy	PER12x FY22
04/28/22	Lim & Tan	Far East Hospitality	0.68	0.78	Buy
04/28/22	CIMB	Frasers Centrepoint Trust	2.43	2.75	Add	DDM
04/28/22	UOB Kay Hian	Frasers Centrepoint Trust	2.43	2.96	Buy
04/28/22	OCBC	Frasers Centrepoint Trust	2.43	2.73	Buy
04/28/22	UOB Kay Hian	Keppel Corp	6.66	10.11	Buy
04/28/22	CIMB	Keppel Corp	6.66	7.2	Add	Sum of parts
04/28/22	CIMB	Mapletree Industrial	2.63	3.08	Add	DDM
04/28/22	UOB Kay Hian	Sembcorp Marine	0.131	0.156	Buy	PB1x FY22/23
04/28/22	CIMB	Sembcorp Marine	0.131	0.09	Hold
04/28/22	Lim & Tan	Sembcorp Marine	0.131	0	Neutral
04/28/22	CIMB	Sheng Siong	1.52	1.6	Hold
04/28/22	Citi Research	Sheng Siong	1.52	1.34	Sell
04/28/22	Lim & Tan	Singapore Medical	0.33	0.5	Buy
04/28/22	UOB Kay Hian	UMS	1.18	1.45	Buy

Thursday, April 28, 2022

Is the US consumer demand collapsing?

The chart below is showing that the delivery delays are getting longer which only will mean inflation will stay high and consumers cut back on their spending.

Furthermore, the US transportation industry is having a downward trajectory as explained below.

http://sg-stock.blogspot.com/2022/04/former-treasury-secretary-larry-summer.html

The latest trucker rejection rate has reached a doldrum (9.92) compared to the previous year (25.76). The trucker rejection rate is a very important indicator of the US economic growth because trucking represents more than 70% of all freights in the US. The general rule of thumb is that a high trucker rejection rate indicates good economic growth and vice versa.

The low rejection rate means that truckers are unwilling to reject the freight orders because they can see that the freight orders are dwindling in the US. Therefore, they're no longer as picky as the previous year since beggars cannot be choosers.