Stock calls for 16 July 2019

Date	Analyst	Company	Last	Target	Call	Valuation
07/16/19	UOB Kay Hian	ARA Hospitality	0.885	1.15	Buy
07/16/19	DMG & Partners	Avi-Tech	0.28	0.27	Neutral	DCF
07/16/19	DBS Vickers	Bumitama	0.605	0.75	Buy	DCF
07/16/19	DBS Vickers	First Resources	1.55	1.82	Buy	DCF
07/16/19	UOB Kay Hian	Frasers Centrepoint Trust	2.62	2.72	Buy
07/16/19	DBS Vickers	Indofood Agri	0.325	0.33	Hold
07/16/19	DBS Vickers	Keppel Infrastructure	0.505	0.58	Buy	DDM
07/16/19	CIMB	Keppel Reit	1.26	1.41	Add	DDM
07/16/19	DMG & Partners	Keppel Reit	1.26	1.2	Neutral	DDM
07/16/19	UOB Kay Hian	Keppel Reit	1.26	1.37	Buy
07/16/19	DBS Vickers	Keppel Reit	1.26	1.45	Buy	DCF
07/16/19	Lim & Tan	Keppel Reit	1.26	0	Hold
07/16/19	Kim Eng	Sheng Siong	1.09	0.95	Sell	DCF
07/16/19	CIMB	SPH	2.32	2.22	Hold	Sum of parts
07/16/19	DBS Vickers	SPH	2.32	2.22	Hold
07/16/19	Kim Eng	SPH Reit	1.1	1.05	Hold	DDM
07/16/19	CIMB	Venture	15	15.73	Hold	PER125.x CY20
07/16/19	CIMB	Wilmar	3.83	5.54	Add
07/16/19	DBS Vickers	Wilmar	3.83	4.3	Buy	Sum of parts, PER16.2x FY20