Stock calls for 16 November 2021

Date	Analyst	Company	Last	Target	Call	Valuation
11/16/21	DBS Vickers	A-Reit	3.1	4	Buy	DCF
11/16/21	Kim Eng	A-Reit	3.1	3.65	Buy	DDM
11/16/21	CIMB	APAC Realty	0.835	0.996	Add
11/16/21	Phillip	APTV	0.138	0.15	Accumulate	EV/Ebitda9x FY21
11/16/21	CIMB	Boustead	1.02	1.4	Add	Sum of parts (20% discount)
11/16/21	CIMB	Boustead Projects	0.99	1.4	Add
11/16/21	Lim & Tan	Bukit Sembawang	5.14	5.92	Accumulate
11/16/21	DMG & Partners	Bumitama	0.565	0.57	Neutral
11/16/21	CIMB	DBS	32.19	34.9	Add	PB1.5x FY22
11/16/21	UOB Kay Hian	First Resources	1.58	1.65	Hold	PER11x FY22
11/16/21	CIMB	First Resources	1.58	1.76	Add
11/16/21	DBS Vickers	Hongkong Land	5.73	6.55	Buy	RNAV (45% discount)
11/16/21	Amfrasers	Oxpay	0.29	0.42	Buy	PER25x FY22
11/16/21	Kim Eng	Sasseur	0.895	1.05	Buy	DDM
11/16/21	DBS Vickers	SATS	4.1	4.9	Buy	DCF
11/16/21	OCBC	Sembcorp Industries	2.04	2.5	Buy
11/16/21	UOB Kay Hian	SPH	2.33	2.4	Accept offer
11/16/21	Kim Eng	UMS	1.41	1.71	Buy
11/16/21	UOB Kay Hian	Uni-Asia	1.32	2.34	Buy	PER8x FY21