Stock calls for 16 March 2022

Date	Analyst	Company	Last	Target	Call	Valuation
03/16/22	Soochow	Cordlife	0.37	0.47	Buy
03/16/22	UOB Kay Hian	First Resources	2.1	2.1	Buy
03/16/22	Lim & Tan	Sembcorp Marine	0.086	0.091	Buy
03/16/22	Kim Eng	Singtel	2.53	2.98	Buy	Sum of parts
03/16/22	Lim & Tan	ST Engineering	4.02	4.43	Buy
03/16/22	UOB Kay Hian	Trans-China Auto	0.235	0.31	Buy	PER6x FY22

First Ship Lease Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/22/21	Phillip	First Ship Lease Trust	0.085	0.105	Buy	PB1x FY22
02/24/21	Phillip	First Ship Lease Trust	0.085	0.105	Accumulate	PB0.9x FY22
05/03/21	Phillip	First Ship Lease Trust	0.09	0.03	Accumulate	PB0.9x FY22
02/08/22	Phillip	First Ship Lease Trust	0.075	0.04	Sell

First Resources - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/06/21	DBS Vickers	First Resources	1.38	1.7	Buy
01/11/21	UOB Kay Hian	First Resources	1.49	1.75	Buy	PER12x FY21
01/14/21	UOB Kay Hian	First Resources	1.69	1.85	Buy
01/15/21	DMG & Partners	First Resources	1.63	1.9	Buy	PER15x FY21
02/02/21	UOB Kay Hian	First Resources	1.55	1.85	Buy
02/03/21	DBS Vickers	First Resources	1.59	1.83	Buy	DCF
03/01/21	Kim Eng	First Resources	1.45	1.88	Buy	PER17x FY21
03/01/21	UOB Kay Hian	First Resources	1.45	1.7	Buy
03/01/21	DMG & Partners	First Resources	1.45	1.6	Neutral	PER14x FY22
03/15/21	DBS Vickers	First Resources	1.44	1.83	Buy
04/22/21	DMG & Partners	First Resources	1.47	1.7	Buy
05/18/21	UOB Kay Hian	First Resources	1.43	1.65	Buy
05/18/21	CIMB	First Resources	1.43	1.69	Add	PER16x
05/18/21	DMG & Partners	First Resources	1.43	1.6	Buy
06/02/21	DBS Vickers	First Resources	1.29	1.83	Buy
07/19/21	UOB Kay Hian	First Resources	1.33	1.65	Buy
08/02/21	DMG & Partners	First Resources	1.36	1.5	Buy
08/16/21	Kim Eng	First Resources	1.4	1.81	Buy	PER14x FY22
08/16/21	UOB Kay Hian	First Resources	1.4	1.4	High-Risk
10/08/21	DMG & Partners	First Resources	1.84	1.7	Neutral	PER12x FY22
10/08/21	Kim Eng	First Resources	1.84	1.68	Hold
11/02/21	DBS Vickers	First Resources	1.74	1.83	Hold	DCF, PER15x FY22
11/10/21	DMG & Partners	First Resources	1.63	1.7	Neutral
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
12/08/21	DBS Vickers	First Resources	1.51	1.83	Buy	DCF
01/11/22	DMG & Partners	First Resources	1.6	1.6	Neutral
02/28/22	CIMB	First Resources	1.84	2.12	Add
02/28/22	DMG & Partners	First Resources	1.84	1.6	Neutral
03/01/22	Kim Eng	First Resources	1.84	1.88	Hold
03/01/22	DMG & Partners	First Resources	1.84	2	Neutral	PER10x FY22

First Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/24/22	SAC Capital	First Reit	0.305	0.32	Hold	DDM