Stock calls for 14 November 2017

Date	Analyst	Company	Last	Target	Call	Valuation
11/14/17	Phillip	APTV	0.605	0.64	Accumulate
11/14/17	CIMB	Aspen	0.22	0.29	Add	RNAV (45% discount)
11/14/17	DMG & Partners	Avi-Tech	0.525	0.59	Buy	DCF, PER12x FY18
11/14/17	phillip	CNMC	0.28	0.3	Neutral	DCF
11/14/17	DMG & Partners	Comfortdelgro	2.1	2	Neutral	DCF, PER14.5x FY18
11/14/17	Kim Eng	First Resources	1.95	2.04	Hold	PER17x FY17
11/14/17	DMG & Partners	First Resources	1.95	2.13	Neutral	PER13x FY18
11/14/17	CIMB	First Resources	1.95	2.13	Add	PER13x FY19
11/14/17	DBS Vickers	Frasers Centrepoint Ltd	2.05	2.35	Buy	RNAV (20% discount), PB1x
11/14/17	CIMB	Frasers Centrepoint Ltd	2.05	2.37	Add	RNAV (30% discount)
11/14/17	OCBC	Midas	0.215	0.225	Hold
11/14/17	DMG & Partners	Moya Asia	0.101	0.17	Buy	DCF
11/14/17	DMG & Partners	Neo Group	0.66	0.64	Neutral	PER21x FY18
11/14/17	phillip	Old Chang Kee	0.75	0.98	Buy	DCF
11/14/17	DBS Vickers	PACC Offshore	0.345	0.41	Buy	PB0.8x
11/14/17	DBS Vickers	Pan-United	0.575	0.51	Fully Valued
11/14/17	SAC Advisors	Sanli Env	0.3	0.36	Buy
11/14/17	CIMB	Valuetronics	1.01	1.1	Add	PER11x CY19
11/14/17	DBS Vickers	Vard	0.245	0.25	Hold	PB0.78x, P/NTA0.99x, Offer price $0.25
11/14/17	UOB Kay Hian	Wilmar	3.32	4.1	Buy	Sum of parts, PER14x FY18
11/14/17	DMG & Partners	Wilmar	3.32	3.33	Neutral	Sum of parts
11/14/17	CIMB	Wilmar	3.32	4.27	Add	Sum of parts
11/14/17	OCBC	Wilmar	3.32	3.51	Hold
11/14/17	DBS Vickers	Yangzijiang	1.67	1.82	Buy	Sum of parts, PB1.3x