Stock calls for 13 August 2019

Date	Analyst	Company	Last	Target	Call	Valuation
08/13/19	CIMB	APAC Realty	0.51	0.6	Add	PER10x FY20
08/13/19	CIMB	CEI	0.985	0.9	Hold	PER10x FY20
08/13/19	phillip	China Aviation Oil	1.18	1.52	Buy	PER10.5x FY20
08/13/19	DMG & Partners	China Aviation Oil	1.18	1.5	Buy	Sum of parts
08/13/19	DBS Vickers	China Aviation Oil	1.18	1.85	Buy
08/13/19	OCBC	City Developments	9.04	10.68	Buy
08/13/19	DMG & Partners	City Developments	9.04	9.2	Neutral	RNAV (40% discount)
08/13/19	DBS Vickers	City Developments	9.04	11	Buy	RNAV (30% discount)
08/13/19	CIMB	Dairy Farm	6.98	7.29	Hold
08/13/19	CIMB	First Reit	1.06	1.23	Add
08/13/19	DMG & Partners	Food Empire	0.525	0.73	Buy	PER13x FY19
08/13/19	DBS Vickers	Frencken	0.66	0.8	Buy
08/13/19	CIMB	Frencken	0.66	0.9	Add
08/13/19	DMG & Partners	Frencken	0.66	0.82	Buy	DCF
08/13/19	DBS Vickers	Frencken	0.66	0.8	Buy	PER8.5x
08/13/19	DMG & Partners	Kimly	0.235	0.23	Neutral	DCF
08/13/19	DBS Vickers	Riverstone	0.9	1.16	Buy	PER14.5x FY20
08/13/19	CIMB	Sasseur	0.805	0.94	Add	DDM
08/13/19	Kim Eng	Sheng Siong	1.18	0.96	Sell	DCF
08/13/19	DBS Vickers	SIIC	0.235	0.265	Hold
08/13/19	Phillip	Singtel	3.26	3.45	Accumulate	Sum of parts
08/13/19	DMG & Partners	Singtel	3.26	3.4	Neutral	Sum of parts
08/13/19	CIMB	Singtel	3.26	3.6	Add	Sum of parts
08/13/19	UOB Kay Hian	Singtel	3.26	3.32	Hold
08/13/19	DBS Vickers	Singtel	3.26	3.25	Hold	EV/Ebitda6.3x
08/13/19	CIMB	Starhub	1.45	1.65	Hold	DCF
08/13/19	OCBC	UOL	7.2	8.5	Buy
08/13/19	DBS Vickers	UOL	7.2	8.53	Buy	PB0.8x
08/13/19	Lim & Tan	UOL	7.2	0	Buy on weakness
08/13/19	Kim Eng	Venture	14.76	18.88	Buy	Roe-g/Coe-g, PB2.2x FY19
08/13/19	DMG & Partners	Venture	14.76	16.3	Buy	PER13x FY19
08/13/19	CIMB	Venture	14.76	16.28	Add	PER12,5x
08/13/19	UOB Kay Hian	Venture	14.76	17.7	Buy
08/13/19	DBS Vickers	Venture	14.76	18.6	Buy	PER13.7x FY20
08/13/19	Lim & Tan	Venture	14.76	0	Hold
08/13/19	CIMB	Yangzijiang	1.04	1.61	Hold	Sum of parts