| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/05/18 | DBS Vickers | Genting | 1.34 | 1.51 | Buy | |
| 02/07/18 | CIMB | Genting | 1.27 | 1.45 | Add | |
| 02/26/18 | Kim Eng | Genting | 1.3 | 1.46 | Buy | EV/Ebitda 12x FY18 |
| 02/26/18 | UOB Kay Hian | Genting | 1.3 | 1.3 | Hold | EV/Ebitda10.4x FY18, Buy @ $1.15 |
| 02/26/18 | DBS Vickers | Genting | 1.3 | 1.49 | Buy | DCF |
| 02/26/18 | DMG & Partners | Genting | 1.3 | 1.34 | Neutral | DCF |
| 02/26/18 | OCBC | Genting | 1.3 | 1.45 | Buy | FCFE |
| 02/26/18 | CIMB | Genting | 1.3 | 1.49 | Add | EV/Ebitda12x FY19 |
| 02/26/18 | Nomura | Genting | 1.3 | 1.52 | Buy | |
| 03/05/18 | CIMB | Genting | 1.15 | 1.49 | Add | EV/Ebitda12x FY19 |
| 04/05/18 | UOB Kay Hian | Genting | 1.03 | 1.3 | Buy | EV/Ebitda10.4x FY18 |
| 04/06/18 | CIMB | Genting | 1.08 | 1.4 | Add | EV/Ebitda11.5x FY19 |
| 04/10/18 | Kim Eng | Genting | 1.14 | 1.46 | Buy | EV/Ebitda 12x FY18 |
| 05/11/18 | CIMB | Genting | 1.16 | 1.4 | Add | EV/Ebitda11.5x FY19 |
| 05/11/18 | UOB Kay Hian | Genting | 1.16 | 1.38 | Buy | Sum of parts, EV/Ebitda10.3x FY18 |
| 05/11/18 | DBS Vickers | Genting | 1.16 | 1.49 | Buy | DCF |
| 05/11/18 | OCBC | Genting | 1.16 | 1.45 | Buy | FCFE |
| 05/11/18 | Nomura | Genting | 1.16 | 1.52 | Buy | |
| 05/14/18 | DMG & Partners | Genting | 1.28 | 1.42 | Buy | DCF |
| 06/05/18 | DBS Vickers | Genting | 1.26 | 1.49 | Buy | |
| 06/08/18 | CIMB | Genting | 1.25 | 1.4 | Add | |
| 07/03/18 | UOB Kay Hian | Genting | 1.21 | 1.38 | Buy | |
| 07/03/18 | DBS Vickers | Genting | 1.21 | 1.49 | Buy | |
| 07/23/18 | Kim Eng | Genting | 1.28 | 1.46 | Buy | EV/Ebitda 12x FY18 |
| 07/26/18 | CIMB | Genting | 1.29 | 1.44 | Add | EV/Ebitda11.5x FY19 |
| 08/06/18 | UOB Kay Hian | Genting | 1.23 | 1.38 | Buy | EV/Ebitda10.5x FY18 |
| 08/06/18 | OCBC | Genting | 1.23 | 1.39 | Buy | FCFE |
| 08/06/18 | CIMB | Genting | 1.23 | 1.44 | Add | EV/Ebitda15.5x FY19 |
| 08/07/18 | DBS Vickers | Genting | 1.13 | 1.55 | Buy | DCF |
| 10/25/18 | UOB Kay Hian | Genting | 0.91 | 1.38 | Buy | EV/Ebitda10.5x FY18 |
| 11/05/18 | DBS Vickers | Genting | 0.945 | 1.55 | Buy | DCF, EV/Ebitda12x FY19 |
| 11/08/18 | UOB Kay Hian | Genting | 0.915 | 1.38 | Buy | EV/Ebitda10.5x FY18 |
| 11/09/18 | Kim Eng | Genting | 0.89 | 1.29 | Buy | EV/Ebitda10x FY18 |
| 11/09/18 | DMG & Partners | Genting | 0.89 | 1.42 | Buy | |
| 11/09/18 | CIMB | Genting | 0.89 | 1.28 | Add | EV/Ebitda10x FY19 |
| 11/09/18 | OCBC | Genting | 0.89 | 1.39 | Buy | FCFE |
| 11/15/18 | DMG & Partners | Genting | 0.925 | 1.23 | Buy | DCF, EV/Ebitda9x |
| 12/14/18 | DMG & Partners | Genting | 1.01 | 1.23 | Buy | |
| 01/02/19 | DMG & Partners | Genting | 0.975 | 1.23 | Buy | DCF |
| 01/15/19 | Kim Eng | Genting | 1.03 | 1.26 | Buy | EV/Ebitda9x FY19 |
| 01/28/19 | UOB Kay Hian | Genting | 1.06 | 1.38 | Buy | EV/Ebitda10x FY19 |
Friday, February 1, 2019
Genting - Stock calls
Fu Yu - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 05/16/18 | DMG & Partners | Fu Yu | 0.186 | 0.2 | Neutral | DCF |
| 06/27/18 | DMG & Partners | Fu Yu | 0.171 | 0.2 | Neutral | |
| 08/15/18 | DMG & Partners | Fu Yu | 0.174 | 0.22 | Buy | DCF |
| 09/28/18 | CIMB | Fu Yu | 0.176 | 0.17 | Hold | PB0.8x |
| 11/15/18 | CIMB | Fu Yu | 0.17 | 0.17 | Hold | PB0.8x |
| 11/20/18 | DMG & Partners | Fu Yu | 0.182 | 0.23 | Buy | |
| 11/27/18 | UOB Kay Hian | Fu Yu | 0.189 | 0.27 | Buy | EV/Ebitda5.3x FY19 |
| 12/04/18 | UOB Kay Hian | Fu Yu | 0.194 | 0.27 | Buy | |
| 12/14/18 | DMG & Partners | Fu Yu | 0.189 | 0.23 | Buy | |
| 01/02/19 | DMG & Partners | Fu Yu | 0.19 | 0.23 | Buy | DCF |
| 01/04/19 | UOB Kay Hian | Fu Yu | 0.186 | 0.27 | Buy | EV/Ebitda 5.3x FY19 |
| 01/15/19 | CIMB | Fu Yu | 0.2 | 0.2 | Hold | PB0.9x |
Frencken - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 02/26/18 | Amfrasers | Frencken | 0.67 | 0.72 | Hold | PER12x FY18 |
| 03/07/18 | Amfrasers | Frencken | 0.63 | 0.72 | Buy | PER12x FY18 |
| 05/11/18 | UOB Kay Hian | Frencken | 0.54 | 0.79 | Buy |
Stock calls for 1 February 2019
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 02/01/19 | CIMB | Comfortdelgro | 2.33 | 2.74 | Add | DCF |
| 02/01/19 | phillip | DBS | 23.92 | 29.02 | Buy | |
| 02/01/19 | Kim Eng | Frasers Hospitality Trust | 0.735 | 0.8 | Buy | DDM |
| 02/01/19 | DBS Vickers | Frasers Hospitality Trust | 0.735 | 0.78 | Buy | |
| 02/01/19 | phillip | OCBC | 11.51 | 13.7 | Buy | |
| 02/01/19 | UOB Kay Hian | Sembcorp Industries | 2.59 | 3.2 | Buy | |
| 02/01/19 | UOB Kay Hian | Sembcorp Marine | 1.6 | 1.83 | Hold | |
| 02/01/19 | DMG & Partners | Silverlake | 0.485 | 0.65 | Buy | DCF |
| 02/01/19 | OCBC | Starhill | 0.715 | 0.75 | Buy | |
| 02/01/19 | phillip | UOB | 25.19 | 32.52 | Buy |
First company to delist from SGX in 2019. More to come!
https://www.businesstimes.com.sg/companies-markets/cityneon-to-delist-on-feb-1-9am
Goodbye Cityneon!
There will be more to come!
This is because SGX is fast becoming a derivatives market instead of a securities market. As the securities' liquidity dwindles, companies will become less interested to list on SGX as a low liquidity market always gives a low valuation for the IPOs and listed companies.
Goodbye Cityneon!
There will be more to come!
This is because SGX is fast becoming a derivatives market instead of a securities market. As the securities' liquidity dwindles, companies will become less interested to list on SGX as a low liquidity market always gives a low valuation for the IPOs and listed companies.
Indonesia has declared overtly that it wants to snag Singapore transshipment businesses.
https://sg.finance.yahoo.com/news/indonesia-eyes-60-billion-investment-singapore-backyard-025404112.html
Indonesia is investing 60B to boost its Batam's infrastructure and size to snag SG's transshipment businesses.
Sigh! We are really under-siege from Malaysia and Indonesia.
What can we do to protect ourselves? We need to develop a cozy relationship with China for our own economic benefits or else we'll run into economic repressions caused by our unfriendly neighbours.
Indonesia is investing 60B to boost its Batam's infrastructure and size to snag SG's transshipment businesses.
Sigh! We are really under-siege from Malaysia and Indonesia.
What can we do to protect ourselves? We need to develop a cozy relationship with China for our own economic benefits or else we'll run into economic repressions caused by our unfriendly neighbours.
US and China proclaim major progress in trade talk but nothing is revealed.
https://sg.news.yahoo.com/trump-says-us-china-trade-talks-going-well-150055209.html
Both countries (US & China) try to sugarcoat their trade talk communiques by stating major progress. However, both countries have not released the progress details. This makes me wonder whether there is real progress between the 2 countries or not. Maybe this is a delaying tactic to appease the financial markets and to arrange for the 2 presidents to meet to renegotiate the deal.
Both countries (US & China) try to sugarcoat their trade talk communiques by stating major progress. However, both countries have not released the progress details. This makes me wonder whether there is real progress between the 2 countries or not. Maybe this is a delaying tactic to appease the financial markets and to arrange for the 2 presidents to meet to renegotiate the deal.
Thursday, January 31, 2019
The truth behind the ECRL cancellation.
https://www.channelnewsasia.com/news/asia/china-cccc-ecrl-malaysia-rail-project-negotiate-cost-20-billion-11189898
The china construction cost for the ECRL was already the lowest under the OBR initiative because of China's expertise and technology. There is no way another country can build the ECRL at a much lower cost than China. Therefore, the Malaysian government is disseminating fake news about China offering close to 50% discount for the ECRL construction. If China really did offer close to 50% discount, there would be no reason for Malaysia not to accept it.
The real reason the Malaysian government cancelled the ECRL project was that China bypassed the Malaysia government and paid directly to its construction firms offshore. The fund never reached the Malaysian shore because China knew that the fund would go missing and its construction firms would not be able to receive the full construction costs.
The Chinese know how corrupted the Malaysian government officials are and refuse to transfer the fund to Malaysia but choose to pay directly offshore. This offshore payment arrangement annoys Mahathir because he and his lackeys cannot touch the fund at all.
The china construction cost for the ECRL was already the lowest under the OBR initiative because of China's expertise and technology. There is no way another country can build the ECRL at a much lower cost than China. Therefore, the Malaysian government is disseminating fake news about China offering close to 50% discount for the ECRL construction. If China really did offer close to 50% discount, there would be no reason for Malaysia not to accept it.
The real reason the Malaysian government cancelled the ECRL project was that China bypassed the Malaysia government and paid directly to its construction firms offshore. The fund never reached the Malaysian shore because China knew that the fund would go missing and its construction firms would not be able to receive the full construction costs.
The Chinese know how corrupted the Malaysian government officials are and refuse to transfer the fund to Malaysia but choose to pay directly offshore. This offshore payment arrangement annoys Mahathir because he and his lackeys cannot touch the fund at all.
Frasers Property - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/02/18 | Lim & Tan | Frasers Property | 2.08 | 0 | Buy | |
| 02/12/18 | CIMB | Frasers Property | 1.96 | 2.4 | Add | RNAV (30% discount) |
| 02/12/18 | DBS Vickers | Frasers Property | 1.96 | 2.35 | Buy | RNAV (20% discount), PB1x |
| 04/13/18 | DBS Vickers | Frasers Property | 1.96 | 2.35 | Buy | |
| 05/11/18 | CIMB | Frasers Property | 1.95 | 2.4 | Add | |
| 07/06/18 | DBS Vickers | Frasers Property | 1.67 | 2.35 | Buy | |
| 07/09/18 | DBS Vickers | Frasers Property | 1.58 | 1.9 | Buy | RNAV (35% discount) |
| 08/13/18 | DBS Vickers | Frasers Property | 1.71 | 1.98 | Buy | RNAV (35% discount) |
| 08/13/18 | CIMB | Frasers Property | 1.71 | 2.02 | Add | RNAV (35% discount) |
| 11/12/18 | CIMB | Frasers Property | 1.62 | 2.08 | Add | RNAV (35% discount) |
| 11/13/18 | DBS Vickers | Frasers Property | 1.63 | 1.98 | Buy | RNAV (35% discount) |
| 01/17/19 | DBS Vickers | Frasers Property | 1.74 | 1.98 | Buy | RNAV (35% discount) |
Frasers Logistics - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/10/18 | OCBC | Frasers Logistics | 1.19 | 1.25 | Buy | |
| 01/29/18 | CIMB | Frasers Logistics | 1.15 | 1.24 | Add | DDM |
| 01/29/18 | DBS Vickers | Frasers Logistics | 1.15 | 1.24 | Buy | |
| 03/06/18 | OCBC | Frasers Logistics | 1.07 | 1.25 | Buy | |
| 04/13/18 | DBS Vickers | Frasers Logistics | 1.07 | 1.24 | Buy | |
| 04/23/18 | CIMB | Frasers Logistics | 1.08 | 1.24 | Add | DDM |
| 04/23/18 | OCBC | Frasers Logistics | 1.08 | 1.25 | Buy | |
| 05/08/18 | OCBC | Frasers Logistics | 1.02 | 1.25 | Buy | |
| 05/09/18 | CIMB | Frasers Logistics | 1.03 | 1.24 | Add | DDM |
| 05/09/18 | OCBC | Frasers Logistics | 1.03 | 1.21 | Buy | |
| 06/26/18 | DBS Vickers | Frasers Logistics | 1.03 | 1.2 | Buy | DCF |
| 07/05/18 | DBS Vickers | Frasers Logistics | 1.04 | 1.2 | Buy | DCF |
| 07/31/18 | OCBC | Frasers Logistics | 1.05 | 1.21 | Buy | |
| 08/03/18 | CIMB | Frasers Logistics | 1.05 | 1.24 | Add | DDM |
| 09/03/18 | OCBC | Frasers Logistics | 1.1 | 1.18 | Buy | |
| 09/03/18 | DBS Vickers | Frasers Logistics | 1.1 | 1.2 | Buy | |
| 09/03/18 | Lim & Tan | Frasers Logistics | 1.1 | 0 | Hold | |
| 09/07/18 | OCBC | Frasers Logistics | 1.08 | 1.19 | Buy | |
| 10/25/18 | UOB Kay Hian | Frasers Logistics | 1.03 | 1.16 | Buy | |
| 11/05/18 | DBS Vickers | Frasers Logistics | 1.04 | 1.2 | Buy | DCF |
| 11/08/18 | CIMB | Frasers Logistics | 1.05 | 1.19 | Add | DDM |
| 11/08/18 | OCBC | Frasers Logistics | 1.05 | 1.19 | Buy | |
| 12/03/18 | OCBC | Frasers Logistics | 1.06 | 1.19 | Buy | |
| 01/28/19 | DBS Vickers | Frasers Logistics | 1.06 | 1.2 | Buy | DCF |
| 01/28/19 | OCBC | Frasers Logistics | 1.06 | 1.19 | Buy | |
| 01/28/19 | CIMB | Frasers Logistics | 1.06 | 1.19 | Add |
Frasers Hospitality Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/26/18 | UOB Kay Hian | Frasers Hospitality Trust | 0.81 | 0.9 | Buy | DDM |
| 02/20/18 | DBS Vickers | Frasers Hospitality Trust | 0.79 | 0.89 | Buy | |
| 03/15/18 | UOB Kay Hian | Frasers Hospitality Trust | 0.78 | 0.9 | Buy | |
| 04/13/18 | DBS Vickers | Frasers Hospitality Trust | 0.75 | 0.89 | Buy | |
| 04/27/18 | UOB Kay Hian | Frasers Hospitality Trust | 0.745 | 0.9 | Buy | |
| 04/27/18 | DBS Vickers | Frasers Hospitality Trust | 0.745 | 0.83 | Buy | DCF |
| 07/06/18 | DBS Vickers | Frasers Hospitality Trust | 0.675 | 0.83 | Buy | |
| 07/30/18 | DBS Vickers | Frasers Hospitality Trust | 0.7 | 0.8 | Buy | DCF |
| 07/30/18 | UOB Kay Hian | Frasers Hospitality Trust | 0.7 | 0.82 | Buy | DDM |
| 09/17/18 | Kim Eng | Frasers Hospitality Trust | 0.69 | 0.8 | Buy | DDM |
| 10/25/18 | UOB Kay Hian | Frasers Hospitality Trust | 0.7 | 0.82 | Buy | |
| 10/29/18 | Kim Eng | Frasers Hospitality Trust | 0.7 | 0.8 | Buy | DDM |
| 10/29/18 | DBS Vickers | Frasers Hospitality Trust | 0.7 | 0.78 | Buy | DCF |
Stock calls for 31 January 2019
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/31/19 | Phillip | A-Reit | 2.72 | 2.88 | Accumulate | DDM, PB1.34x FY19 |
| 01/31/19 | CIMB | A-Reit | 2.72 | 2.83 | Add | DDM |
| 01/31/19 | OCBC | A-Reit | 2.72 | 2.64 | Hold | |
| 01/31/19 | DBS Vickers | A-Reit | 2.72 | 2.95 | Buy | |
| 01/31/19 | CIMB | CDL Hospitality | 1.63 | 1.64 | Add | DDM |
| 01/31/19 | Kim Eng | CDL Hospitality | 1.63 | 1.8 | Buy | DDM |
| 01/31/19 | OCBC | CDL Hospitality | 1.63 | 1.56 | Hold | |
| 01/31/19 | DBS Vickers | CDL Hospitality | 1.63 | 1.85 | Buy | DCF |
| 01/31/19 | Kim Eng | DBS | 23.94 | 30.18 | Buy | DDM |
| 01/31/19 | Kim Eng | OCBC | 11.39 | 10.95 | Hold | DDM |
| 01/31/19 | OCBC | OUE Commercial | 0.49 | 0.5 | Hold | |
| 01/31/19 | DBS Vickers | OUE Commercial | 0.49 | 0.6 | Buy | DCF |
| 01/31/19 | OCBC | OUE Hospitality | 0.725 | 0.82 | Buy | |
| 01/31/19 | UOB Kay Hian | ST Engineering | 3.66 | 4.06 | Buy | |
| 01/31/19 | CIMB | Starhill | 0.72 | 0.75 | Add | DDM |
| 01/31/19 | DBS Vickers | Starhill | 0.72 | 0.75 | Buy | |
| 01/31/19 | Kim Eng | UOB | 25.3 | 30.5 | Buy | DDM |
Renminbi (RMB) is appreciating abnormally! - Part 2
https://www.thestreet.com/markets/fed-chair-powell-faces-task-of-saying-something-about-nothing-14850526?puc=yahoo&cm_ven=YAHOO&yptr=yahoo
The US FED is confirmed being dovish now!
What has changed so far?
The "gradual increases" in US interest rates path has been removed and replaced with a "wait-and-see" approach. This may mean a rate hike or reduction in the future depending on the economic data.
The economic repercussion is a depreciating USD versus an appreciating RMB.
We hit the head of the nail when we took cognizant of an appreciating RMB recently and attributed it to the US FED previously. Our analysis has become more pronounced now with a further appreciation in RMB after the US FED statement.
https://sg-stock.blogspot.com/2019/01/reminbi-rmb-is-appreciating-abnormally.html
An appreciating RMB means that there is an influx of foreign capital and this will disrupt China's economic developments.
The US FED is confirmed being dovish now!
What has changed so far?
The "gradual increases" in US interest rates path has been removed and replaced with a "wait-and-see" approach. This may mean a rate hike or reduction in the future depending on the economic data.
The economic repercussion is a depreciating USD versus an appreciating RMB.
We hit the head of the nail when we took cognizant of an appreciating RMB recently and attributed it to the US FED previously. Our analysis has become more pronounced now with a further appreciation in RMB after the US FED statement.
https://sg-stock.blogspot.com/2019/01/reminbi-rmb-is-appreciating-abnormally.html
An appreciating RMB means that there is an influx of foreign capital and this will disrupt China's economic developments.
Wednesday, January 30, 2019
Frasers Commercial Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/05/18 | DMG & Partners | Frasers Commercial Trust | 1.53 | 1.39 | Neutral | |
| 01/19/18 | DBS Vickers | Frasers Commercial Trust | 1.51 | 1.71 | Buy | DCF |
| 01/23/18 | OCBC | Frasers Commercial Trust | 1.55 | 1.51 | Hold | |
| 01/23/18 | DMG & Partners | Frasers Commercial Trust | 1.55 | 1.55 | Neutral | DDM |
| 01/24/18 | CIMB | Frasers Commercial Trust | 1.52 | 1.55 | Hold | DDM |
| 02/20/18 | DBS Vickers | Frasers Commercial Trust | 1.44 | 1.71 | Buy | |
| 04/05/18 | OCBC | Frasers Commercial Trust | 1.41 | 1.51 | Buy | |
| 04/13/18 | DBS Vickers | Frasers Commercial Trust | 1.46 | 1.71 | Buy | DCF |
| 04/23/18 | CIMB | Frasers Commercial Trust | 1.46 | 1.5 | Hold | DDM |
| 04/23/18 | OCBC | Frasers Commercial Trust | 1.46 | 1.54 | Buy | |
| 04/23/18 | DMG & Partners | Frasers Commercial Trust | 1.46 | 1.49 | Neutral | DDM |
| 04/23/18 | DBS Vickers | Frasers Commercial Trust | 1.46 | 1.65 | Buy | DCF |
| 04/23/18 | Kim Eng | Frasers Commercial Trust | 1.46 | 2.55 | Buy | |
| 05/17/18 | DMG & Partners | Frasers Commercial Trust | 1.36 | 1.49 | Neutral | |
| 05/31/18 | DBS Vickers | Frasers Commercial Trust | 1.36 | 1.65 | Buy | |
| 07/02/18 | OCBC | Frasers Commercial Trust | 1.38 | 1.53 | Buy | |
| 07/11/18 | DBS Vickers | Frasers Commercial Trust | 1.39 | 1.65 | Buy | |
| 07/26/18 | CIMB | Frasers Commercial Trust | 1.46 | 1.5 | Hold | DDM |
| 08/02/18 | DBS Vickers | Frasers Commercial Trust | 1.42 | 1.65 | Buy | |
| 09/25/18 | DBS Vickers | Frasers Commercial Trust | 1.43 | 1.65 | Buy | DCF |
| 09/27/18 | OCBC | Frasers Commercial Trust | 1.45 | 1.53 | Buy | |
| 10/16/18 | DMG & Partners | Frasers Commercial Trust | 1.4 | 1.5 | Neutral | DDM |
| 10/19/18 | Lim & Tan | Frasers Commercial Trust | 1.41 | 0 | Hold | |
| 10/22/18 | DBS Vickers | Frasers Commercial Trust | 1.43 | 1.7 | Buy | DCF |
| 10/22/18 | OCBC | Frasers Commercial Trust | 1.43 | 1.56 | Buy | |
| 10/22/18 | CIMB | Frasers Commercial Trust | 1.43 | 1.5 | Hold | DDM |
| 12/11/18 | DMG & Partners | Frasers Commercial Trust | 1.39 | 1.43 | Neutral | |
| 01/18/19 | DBS Vickers | Frasers Commercial Trust | 1.47 | 1.7 | Buy | |
| 01/21/19 | OCBC | Frasers Commercial Trust | 1.45 | 1.56 | Buy | |
| 01/21/19 | CIMB | Frasers Commercial Trust | 1.45 | 1.5 | Hold | DDM |
| 01/21/19 | Lim & Tan | Frasers Commercial Trust | 1.45 | 0 | Hold |
Frasers Centrepoint Trust - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/02/18 | Kim Eng | Frasers Centrepoint Trust | 2.24 | 2.45 | Buy | DDM |
| 01/05/18 | DMG & Partners | Frasers Centrepoint Trust | 2.29 | 2.24 | Neutral | |
| 01/15/18 | OCBC | Frasers Centrepoint Trust | 2.26 | 2.4 | Buy | |
| 01/24/18 | Phillip | Frasers Centrepoint Trust | 2.3 | 2.14 | Neutral | DDM, PB1.06x |
| 01/24/18 | UOB Kay Hian | Frasers Centrepoint Trust | 2.3 | 2.43 | Buy | DDM |
| 01/24/18 | Credit Suisse | Frasers Centrepoint Trust | 2.3 | 2.26 | Neutral | |
| 01/24/18 | OCBC | Frasers Centrepoint Trust | 2.3 | 2.49 | Buy | |
| 01/24/18 | CIMB | Frasers Centrepoint Trust | 2.3 | 2.41 | Add | DDM |
| 01/24/18 | Lim & Tan | Frasers Centrepoint Trust | 2.3 | 0 | Buy | |
| 01/24/18 | DBS Vickers | Frasers Centrepoint Trust | 2.3 | 2.48 | Buy | |
| 02/20/18 | DBS Vickers | Frasers Centrepoint Trust | 2.15 | 2.48 | Buy | |
| 03/06/18 | OCBC | Frasers Centrepoint Trust | 2.18 | 2.49 | Buy | |
| 04/12/18 | Kim Eng | Frasers Centrepoint Trust | 2.25 | 2.55 | Buy | |
| 04/13/18 | DBS Vickers | Frasers Centrepoint Trust | 2.24 | 2.48 | Buy | |
| 04/25/18 | OCBC | Frasers Centrepoint Trust | 2.22 | 2.49 | Buy | |
| 04/26/18 | Phillip | Frasers Centrepoint Trust | 2.21 | 2.14 | Neutral | DDM, PB1.06x |
| 04/26/18 | UOB Kay Hian | Frasers Centrepoint Trust | 2.21 | 2.43 | Buy | DDM |
| 04/26/18 | DBS Vickers | Frasers Centrepoint Trust | 2.21 | 2.45 | Buy | |
| 04/26/18 | CIMB | Frasers Centrepoint Trust | 2.21 | 2.41 | Add | DDM |
| 05/08/18 | DBS Vickers | Frasers Centrepoint Trust | 2.21 | 2.45 | Buy | |
| 05/17/18 | DMG & Partners | Frasers Centrepoint Trust | 2.16 | 2.24 | Neutral | |
| 05/23/18 | OCBC | Frasers Centrepoint Trust | 2.2 | 2.49 | Buy | |
| 06/26/18 | DBS Vickers | Frasers Centrepoint Trust | 2.17 | 2.45 | Buy | |
| 07/06/18 | DBS Vickers | Frasers Centrepoint Trust | 2.2 | 2.45 | Buy | |
| 07/25/18 | Kim Eng | Frasers Centrepoint Trust | 2.27 | 2.55 | Buy | DDM |
| 07/25/18 | UOB Kay Hian | Frasers Centrepoint Trust | 2.27 | 2.32 | Buy | DDM |
| 07/25/18 | OCBC | Frasers Centrepoint Trust | 2.27 | 2.49 | Buy | |
| 07/25/18 | CIMB | Frasers Centrepoint Trust | 2.27 | 2.41 | Add | DDM |
| 07/25/18 | Lim & Tan | Frasers Centrepoint Trust | 2.27 | 0 | Hold | |
| 07/27/18 | Phillip | Frasers Centrepoint Trust | 2.24 | 2.15 | Neutral | DDM, PB1.11x FY18 |
| 08/24/18 | DBS Vickers | Frasers Centrepoint Trust | 2.28 | 2.45 | Buy | |
| 09/04/18 | OCBC | Frasers Centrepoint Trust | 2.27 | 2.49 | Buy | |
| 09/05/18 | CIMB | Frasers Centrepoint Trust | 2.29 | 2.49 | Add | DDM |
| 10/10/18 | CIMB | Frasers Centrepoint Trust | 2.23 | 2.49 | Add | |
| 10/16/18 | DMG & Partners | Frasers Centrepoint Trust | 2.23 | 2.24 | Neutral | DDM |
| 10/17/18 | Phillip | Frasers Centrepoint Trust | 2.23 | 2.15 | Neutral | |
| 10/25/18 | OCBC | Frasers Centrepoint Trust | 2.23 | 2.5 | Buy | |
| 10/25/18 | UOB Kay Hian | Frasers Centrepoint Trust | 2.23 | 2.32 | Buy | DDM |
| 10/25/18 | DBS Vickers | Frasers Centrepoint Trust | 2.23 | 2.35 | Buy | |
| 10/25/18 | CIMB | Frasers Centrepoint Trust | 2.23 | 2.4 | Add | DDM |
| 10/25/18 | Lim & Tan | Frasers Centrepoint Trust | 2.23 | 0 | Hold | |
| 10/26/18 | DMG & Partners | Frasers Centrepoint Trust | 2.22 | 2.19 | Neutral | |
| 11/16/18 | CIMB | Frasers Centrepoint Trust | 2.15 | 2.35 | Add | DDM |
| 11/21/18 | Phillip | Frasers Centrepoint Trust | 2.15 | 2.21 | Neutral | |
| 11/29/18 | Kim Eng | Frasers Centrepoint Trust | 2.17 | 2.55 | Buy | |
| 12/03/18 | OCBC | Frasers Centrepoint Trust | 2.16 | 2.5 | Buy | |
| 12/11/18 | DMG & Partners | Frasers Centrepoint Trust | 2.17 | 2.19 | Neutral | |
| 01/17/19 | Kim Eng | Frasers Centrepoint Trust | 2.27 | 2.55 | Buy | DDM |
| 01/22/19 | Lim & Tan | Frasers Centrepoint Trust | 2.26 | 0 | Hold | |
| 01/22/19 | OCBC | Frasers Centrepoint Trust | 2.26 | 2.5 | Buy | |
| 01/23/19 | Phillip | Frasers Centrepoint Trust | 2.27 | 2.21 | Neutral | DDM, PB1.09x FY19 |
| 01/23/19 | DBS Vickers | Frasers Centrepoint Trust | 2.27 | 2.4 | Buy | |
| 01/28/19 | UOB Kay Hian | Frasers Centrepoint Trust | 2.29 | 2.32 | Buy | |
| 01/28/19 | CIMB | Frasers Centrepoint Trust | 2.29 | 2.35 | Add | DDM |
Fortune Reit - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/29/19 | DBS Vickers | Fortune Reit | 9.7 | 10.68 | Buy |
Stock calls for 30 January 2019
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/30/19 | Kim Eng | AEM | 0.905 | 1.21 | Buy | PB2.9x FY19/20, EV/Ebitda5.2x FY20 |
| 01/30/19 | OCBC | ART | 1.19 | 1.25 | Buy | |
| 01/30/19 | DBS Vickers | ART | 1.19 | 1.35 | buy | DCF |
| 01/30/19 | DBS Vickers | Ascendas Hospitality Trust | 0.835 | 0.98 | Buy | DCF |
| 01/30/19 | Kim Eng | Japfa | 0.81 | 0.99 | Buy | |
| 01/30/19 | Phillip | Micro-Mechanics | 1.67 | 1.7 | Accumulate | PER15x FY19 |
| 01/30/19 | DBS Vickers | OUE Hospitality | 0.695 | 0.85 | Buy | DCF |
| 01/30/19 | DBS Vickers | Parkway Life | 2.8 | 3.1 | Buy |
Tuesday, January 29, 2019
Food Empire - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/04/18 | DMG & Partners | Food Empire | 0.705 | 1 | Buy | PER12x FY18 |
| 02/20/18 | DMG & Partners | Food Empire | 0.67 | 1 | Buy | |
| 03/02/18 | DMG & Partners | Food Empire | 0.7 | 1.07 | Buy | PER18x FY18 |
| 05/14/18 | DMG & Partners | Food Empire | 0.67 | 1.07 | Buy | PER18x FY18 |
| 06/22/18 | DMG & Partners | Food Empire | 0.65 | 1.07 | Buy | |
| 08/15/18 | DMG & Partners | Food Empire | 0.56 | 0.6 | Neutral | PER14x FY18 |
| 11/19/18 | DMG & Partners | Food Empire | 0.54 | 0.66 | Buy | PER13x FY19 |
First Sponsor - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 02/09/18 | Lim & Tan | First Sponsor | 1.41 | 0 | Buy | |
| 07/24/18 | DBS Vickers | First Sponsor | 1.25 | 1.62 | Buy | |
| 11/01/18 | DBS Vickers | First Sponsor | 1.27 | 1.62 | Buy | RNAV (35% discount) |
First Ship Lease Trust (FSLT) - Stock calls
| Date | Analyst | Code | Company | Last | Target | Call | Percent | Valuation |
| 01/17/18 | Amfrasers | D8DU | First Ship Lease Trust | 0.093 | 0.15 | Buy | 61.29 |
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