Stock calls for 13 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/13/17	Kim Eng	Bumitama	0.76	0.95	Buy	PER11x FY18
12/13/17	DMG & Partners	Bumitama	0.76	0.95	Buy
12/13/17	DBS Vickers	CapitaRetail China	1.6	1.75	Buy	DCF
12/13/17	OCBC	DBS	25.2	27.4	Buy	GGM, PB1.4x
12/13/17	Kim Eng	First Resources	1.88	2.04	Hold
12/13/17	DMG & Partners	First Resources	1.88	2.03	Neutral	PER12x FY18
12/13/17	Amfrasers	First Ship Lease Trust	0.082	0.15	Buy	DCF
12/13/17	DBS Vickers	Jumbo	0.585	0.7	Buy	DCF
12/13/17	Kim Eng	Jumbo	0.585	0.7	Buy	DCF
12/13/17	OCBC	Lippo-Malls Indo	0.415	0.46	Buy
12/13/17	DBS Vickers	SPH Reit	1.04	1.07	Hold	DCF
12/13/17	Phillip	Thai Beverage	0.955	1.18	Buy	Sum of parts
12/13/17	CIMB	Thai Beverage	0.955	1.15	Add	Sum of parts
12/13/17	DMG & Partners	Wilmar	3.11	3.31	Neutral	Sum of parts