SPH Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/13/21	Lim & Tan	SPH Reit	0.925	1.03	Accumulate
07/16/21	CIMB	SPH Reit	0.945	1.06	Add
07/16/21	Kim Eng	SPH Reit	0.945	0.8	Hold	DDM
08/03/21	DBS Vickers	SPH Reit	0.905	0.92	Hold	DCF
08/03/21	Lim & Tan	SPH Reit	0.905	0	Hold
08/27/21	CIMB	SPH Reit	0.89	1.04	Add	DDM
08/27/21	OCBC	SPH Reit	0.89	0.92	Hold
10/05/21	DBS Vickers	SPH Reit	0.93	0.92	Hold
10/05/21	Lim & Tan	SPH Reit	0.93	0.95	Hold
10/06/21	CIMB	SPH Reit	0.94	1.03	Add	DDM
01/10/22	CIMB	SPH Reit	0.98	1.03	Add	DDM
01/10/22	DBS Vickers	SPH Reit	0.98	0.92	Hold
01/11/22	Lim & Tan	SPH Reit	0.965	0	Neutral
01/12/22	Kim Eng	SPH Reit	0.975	0.95	Hold
01/12/22	OCBC	SPH Reit	0.975	0.95	Hold
04/04/22	CIMB	SPH Reit	0.97	0.95	Hold
04/04/22	DBS Vickers	SPH Reit	0.97	0.964	Hold
04/04/22	Kim Eng	SPH Reit	0.97	0.95	Hold
04/04/22	Lim & Tan	SPH Reit	0.97	0.96	Hold
07/08/22	Lim & Tan	SPH Reit	0.905	0.94	Hold

Stock calls for 12 August 2022

Date	Analyst	Company	Last	Target	Call	Valuation
08/12/22	DBS Vickers	Capitaland Integrated Commercial Trust	2.11	2.7	Buy
08/12/22	Uob Kay Hian	Capitaland Investment	3.92	4.28	Buy	Sum of parts
08/12/22	DBS Vickers	Capitaland Investment	3.92	4.3	Buy
08/12/22	UOB Kay Hian	City Developments	8.24	9.87	Buy	RNAV (30% discount)
08/12/22	DMG & Partners	City Developments	8.24	9.75	Buy	RNAV (45% discount)
08/12/22	CIMB	City Developments	8.24	8.97	Add
08/12/22	Citi Research	City Developments	8.24	10.29	Buy
08/12/22	DBS Vickers	Delfi	0.79	1.31	Buy	PER17x FY22/23
08/12/22	CIMB	Delfi	0.79	1.28	Add
08/12/22	DBS Vickers	Frencken	1.28	1.36	Hold
08/12/22	CIMB	Grand Venture	0.7	0.85	Add
08/12/22	DBS Vickers	Ho Bee	2.81	3.8	Buy
08/12/22	Kim Eng	HRnetGroup	0.775	1.07	Buy
08/12/22	CIMB	Jiutian	0.096	0.18	Add
08/12/22	phillip	PanUnited	0.45	0.54	Buy	PER12x FY22
08/12/22	CIMB	Propnex	1.67	2.07	Add
08/12/22	DBS Vickers	Sarine	0.395	0.5	Buy
08/12/22	CIMB	Thai Beverage	0.68	0.88	Add	Sum of parts

SPH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/18/21	CIMB	SPH	1.83	2.19	Add	PB
07/21/21	Lim & Tan	SPH	1.8	0	Accumulate
07/21/21	UOB Kay Hian	SPH	1.8	2	Buy	Sum of parts
08/03/21	CIMB	SPH	1.88	2.19	Buy	Sum of parts
08/03/21	DBS Vickers	SPH	1.88	2.1	Accept offer	offer price $2.099
08/03/21	Lim & Tan	SPH	1.88	0	Accept offer	offer price $2.099
08/05/21	OCBC	SPH	1.92	1.92	Hold
08/05/21	UOB Kay Hian	SPH	1.92	2.1	Buy	Sum of parts (5% disc)
10/06/21	Lim & Tan	SPH	1.98	0	Hold
10/07/21	UOB Kay Hian	SPH	1.98	2.1	Accept offer	Sum of parts
11/02/21	UOB Kay Hian	SPH	2.12	2.15	Accept offer
11/11/21	UOB Kay Hian	SPH	2.16	2.35	Accept offer	offer price $2.35
11/16/21	UOB Kay Hian	SPH	2.33	2.4	Accept offer
12/23/21	Lim & Tan	SPH	2.34	0	Accept offer	Accept Cuscaden & Reject Keppel
02/10/22	CIMB	SPH	2.33	2.11	Hold
02/11/22	DBS Vickers	SPH	2.33	2.1	Hold
03/24/22	UOB Kay Hian	SPH	2.35	2.4	Accept offer