Stock calls for 15 November 2018

Date	Analyst	Company	Last	Target	Call	Valuation
11/15/18	Amfrasers	Accordia Golf Trust	0.49	0.61	Hold
11/15/18	OCBC	Capitaland	3.08	3.96	Buy	RNAV (20% discount)
11/15/18	DBS Vickers	Capitaland	3.08	3.62	Buy	RNAV (25% discount)
11/15/18	DMG & Partners	Capitaland	3.08	4	Buy	RNAV (20% discount)
11/15/18	CIMB	Capitaland	3.08	3.55	Add	RNAV (35% discount)
11/15/18	CIMB	Fu Yu	0.17	0.17	Hold	PB0.8x
11/15/18	DMG & Partners	Genting	0.925	1.23	Buy	DCF, EV/Ebitda9x
11/15/18	UOB Kay Hian	HMI	0.550	0.77	Buy	DCF
11/15/18	CIMB	HMI	0.550	0.73	Add	DCF, EV/Ebitda15.2x FY20
11/15/18	DBS Vickers	Hong Leong Finance	2.57	3.2	buy	GGM, PB0.7x FY19
11/15/18	CIMB	Jadason	0.03	0.073	Add	PB1x FY18
11/15/18	DBS Vickers	Mermaid Maritime	0.094	0.1	Hold	PB0.5x
11/15/18	DBS Vickers	MM2 Asia	0.37	0.5	Buy	Sum of parts, PER16x FY19
11/15/18	UOB Kay Hian	Propnex	0.56	0.65	Buy	DCF, PER10x FY19
11/15/18	OCBC	SIA	9.41	10.71	Buy	PB0.85x FY19
11/15/18	Lim & Tan	SIA	9.41	0	Hold
11/15/18	DBS Vickers	SIIC	0.28	0.32	Hold
11/15/18	DBS Vickers	ST Engineering	3.5	4.15	Buy	Sum of parts
11/15/18	Kim Eng	ST Engineering	3.5	4.35	Buy	DCF
11/15/18	CIMB	ST Engineering	3.5	3.94	Add	Sum of parts
11/15/18	DMG & Partners	Wilmar	3.19	3.59	Buy