Singapore Strategy - CGS-CIMB Research 2021-05-04: Rinse And Repeat

Singapore Strategy - CGS-CIMB Research | SGinvestors.io SHENG SIONG GROUP LTD (SGX:OV8) UG HEALTHCARE CORPORATIONLTD (SGX:8K7) DAIRY FARM INT'L HOLDINGS LTD (SGX:D01) RIVERSTONE HOLDINGS LIMITED (SGX:AP4)

Singapore Strategy - Rinse & Repeat




Pre-emptive phase 2 to avoid CB but not ruling out the possibility

  • Singapore is re-entering phase 2 with tightening measures to be implemented from 8 May to 30 May to avoid a circuit breaker (CB), although the government is not ruling out the possibility. Some of the reinstated measures include
    • Capping social gatherings to 5 per group (from 8) and workplace capacity at < 50% (from 75%).
    • Stay-at home notice for inbound travellers from most countries will be extended to 21 days (from 14 days).
    • Pre-event testing will be required for more than 100 attendees at any time, capped at 250 attendees. These include cinemas and worship services.
    • Border closure started on 1 May for travelers from Bangladesh, Nepal, Pakistan and Sri Lanka.


More variant cases, better testing and contact tracing today

  • The number of locally transmitted COVID-19 cases and unlinked community cases has increased in recent weeks, with 60 new cases and more variants detected from South Africa, UK, India and Brazil. There were also re-infection cases with the South African variant. Relative to the onset of COVID-19 in Feb/Mar 20, Singapore now has far better testing and contact tracing capabilities.
  • As of 18 Apr, 2.2m people have been vaccinated with the first dose and 849k are fully vaccinated.


Temporary no to reopening plays


SEA Limited, supermarkets and selected REITs could hold up






LIM Siew Khee CGS-CIMB Research | https://www.cgs-cimb.com 2021-05-04
SGX Stock Analyst Report HOLD MAINTAIN HOLD 1.600 SAME 1.600
ADD MAINTAIN ADD 1.700 SAME 1.700
ADD MAINTAIN ADD 5.400 SAME 5.400
ADD MAINTAIN ADD 2.300 SAME 2.300



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