Stock calls for 2 September 2025

Date	Analyst	Company	Last	Target	Call	Valuation
09/02/25	DBS Vickers	Comfortdelgro	1.47	1.8	Buy	PB1.3x & EV/Ebitda5.4x
09/02/25	CIMB	Comfortdelgro	1.47	1.7	Add	PER
09/02/25	Lim & Tan	Comfortdelgro	1.47	1.73	Accumulate
09/02/25	UOB Kay Hian	Frasers Centrepoint Trust	2.33	3.07	Buy	DDM
09/02/25	DBS Vickers	IHH Healthcare	2.08	2.61	Buy	Ringgit $8.60 target price, Sum of parts
09/02/25	Lim & Tan	Oxley	0.106	0	Hold
09/02/25	CIMB	Singtel	4.33	4.8	Add
09/02/25	HSBC	Singtel	4.33	4.75	Buy
09/02/25	DMG & Partners	Thai Beverage	0.465	0.65	Buy	Sum of parts
09/02/25	UOB Kay Hian	Tiong Woon	0.785	0.73	Hold	PB0.5x FY26
09/02/25	DBS Vickers	Wilmar	2.96	3	Hold	PER11.7x FY26

Shanghai Cooperation Organization (SCO) versus the west - Who will win?

SCO may set the world order in the future as the west degenerates into an axis of calumny.

Mermaid Maritime - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/03/24	Lim & Tan	Mermaid Maritime	0.19	0.3	Buy
09/30/24	CIMB	Mermaid Maritime	0.158	0.2	Add
10/08/24	CIMB	Mermaid Maritime	0.18	0.2	Add
11/18/24	CIMB	Mermaid Maritime	0.128	0.16	Add

Marco Polo - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/04/24	UOB Kay Hian	Marco Polo	0.058	0.086	Buy	PER11x FY24
07/05/24	Kim Eng	Marco Polo	0.06	0.09	Buy
08/23/24	Lim & Tan	Marco Polo	0.054	0.083	Accumulate
08/28/24	Kim Eng	Marco Polo	0.052	0.08	Buy
08/29/24	UOB Kay Hian	Marco Polo	0.051	0.061	Buy
09/17/24	Kim Eng	Marco Polo	0.054	0.08	Buy
09/20/24	Lim & Tan	Marco Polo	0.055	0.074	Buy
10/07/24	Lim & Tan	Marco Polo	0.058	0.074	Overweight
10/18/24	DMG & Partners	Marco Polo	0.053	0.08	Buy	DCF
11/01/24	UOB Kay Hian	Marco Polo	0.056	0.061	Buy	PER9.5x FY24
11/04/24	Kim Eng	Marco Polo	0.057	0.08	Buy
11/29/24	Lim & Tan	Marco Polo	0.052	0.065	Accumulate on weakness
12/04/24	Kim Eng	Marco Polo	0.053	0.08	Buy
12/06/24	UOB Kay Hian	Marco Polo	0.055	0.072	Buy	PER9.5x FY25
12/13/24	CIMB	Marco Polo	0.054	0.08	Add
01/03/25	Lim & Tan	Marco Polo	0.053	0	Accumulate on weakness
01/14/25	DMG & Partners	Marco Polo	0.054	0.08	Buy	DCF
01/20/25	Lim & Tan	Marco Polo	0.055	0.078	Accumulate on weakness
02/03/25	UOB Kay Hian	Marco Polo	0.055	0.072	Buy	PER9.5x FY25
03/04/25	UOB Kay Hian	Marco Polo	0.05	0.072	Buy	PER9.5x FY25
03/11/25	Lim & Tan	Marco Polo	0.05	0.0755	Buy
04/30/25	UOB Kay Hian	Marco Polo	0.042	0.066	Buy	PER9.5x FY25
05/07/25	UOB Kay Hian	Marco Polo	0.041	0.072	Buy	PER9.5x FY25
05/15/25	CIMB	Marco Polo	0.044	0.072	Add
05/16/25	CIMB	Marco Polo	0.043	0.06	Add
06/09/25	DMG & Partners	Marco Polo	0.045	0.07	Buy
07/24/25	Kim Eng	Marco Polo	0.056	0.07	Buy
08/06/25	DMG & Partners	Marco Polo	0.058	0.07	Buy
08/19/25	Lim & Tan	Marco Polo	0.065	0.065	Hold
08/20/25	UOB Kay Hian	Marco Polo	0.063	0.076	Buy
08/22/25	Lim & Tan	Marco Polo	0.069	0.082	Buy	PER10x FY26
08/27/25	UOB Kay Hian	Marco Polo	0.067	0.088	Buy
08/27/25	Kim Eng	Marco Polo	0.067	0.09	Buy	PER11x FY26

Mapletree Logistics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/13/24	Citi Research	Mapletree Logistics	1.32	1.58	Buy	DDM & RNAV
06/14/24	Lim & Tan	Mapletree Logistics	1.33	1.61	Accumulate
06/26/24	DBS Vickers	Mapletree Logistics	1.32	1.75	Buy
06/26/24	Kim Eng	Mapletree Logistics	1.32	1.5	Buy
06/26/24	UOB Kay Hian	Mapletree Logistics	1.32	1.59	Buy
07/12/24	DBS Vickers	Mapletree Logistics	1.32	1.75	Buy	DCF
07/26/24	OCBC	Mapletree Logistics	1.28	1.65	Buy
07/26/24	Citi Research	Mapletree Logistics	1.28	1.58	Buy	DDM & RNAV
07/26/24	CIMB	Mapletree Logistics	1.28	1.63	Add
07/29/24	Kim Eng	Mapletree Logistics	1.3	1.32	Buy
07/30/24	UOB Kay Hian	Mapletree Logistics	1.3	1.58	Buy
09/11/24	DBS Vickers	Mapletree Logistics	1.43	1.75	Buy	PB1x
09/11/24	Lim & Tan	Mapletree Logistics	1.43	1.6	Accumulate
10/17/24	Kim Eng	Mapletree Logistics	1.42	1.6	Buy	DDM
10/23/24	DBS Vickers	Mapletree Logistics	1.41	1.75	Buy	PB1x
10/24/24	UOB Kay Hian	Mapletree Logistics	1.4	1.45	Hold	DDM
11/26/24	Macquarie	Mapletree Logistics	1.29	1.65	Buy
11/28/24	DBS Vickers	Mapletree Logistics	1.28	1.75	Buy	PB1x
11/28/24	Lim & Tan	Mapletree Logistics	1.28	1.63	Accumulate
12/16/24	Kim Eng	Mapletree Logistics	1.27	1.6	Buy	DDM
01/02/25	UOB Kay Hian	Mapletree Logistics	1.27	1.45	Hold	DDM
01/02/25	JPM	Mapletree Logistics	1.27	2.5	Overweight
01/02/25	CIMB	Mapletree Logistics	1.27	1.73	Add
01/03/25	UOB Kay Hian	Mapletree Logistics	1.29	1.41	Hold	DDM
01/17/25	Lim & Tan	Mapletree Logistics	1.27	1.56	Accumulate
01/22/25	DBS Vickers	Mapletree Logistics	1.27	1.75	Buy	PB1x
01/23/25	UOB Kay Hian	Mapletree Logistics	1.27	1.35	Hold	DDM
01/23/25	MorningStar	Mapletree Logistics	1.27	1.54	Buy
03/06/25	UOB Kay Hian	Mapletree Logistics	1.25	1.35	Hold	DDM
03/06/25	JPM	Mapletree Logistics	1.25	1.9	Underweight
04/01/25	UOB Kay Hian	Mapletree Logistics	1.31	1.35	Hold	DDM
04/24/25	DBS Vickers	Mapletree Logistics	1.21	1.55	Buy	DCF
04/25/25	UOB Kay Hian	Mapletree Logistics	1.16	1.31	Hold	DDM
04/25/25	CIMB	Mapletree Logistics	1.16	1.63	Add
05/13/25	DBS Vickers	Mapletree Logistics	1.08	1.55	Buy	DCF
05/21/25	UOB Kay Hian	Mapletree Logistics	1.09	1.31	Hold	DDM
06/27/25	UOB Kay Hian	Mapletree Logistics	1.16	1.43	Hold	DDM
07/24/25	DBS Vickers	Mapletree Logistics	1.21	1.55	Buy	DCF
07/24/25	OCBC	Mapletree Logistics	1.21	1.46	Buy
07/25/25	UOB Kay Hian	Mapletree Logistics	1.19	1.33	Hold	DDM
09/01/25	UOB Kay Hian	Mapletree Logistics	1.22	1.33	Hold	DDM

Stock calls for 1 September 2025

Date	Analyst	Company	Last	Target	Call	Valuation
09/02/25	UOB Kay Hian	Frasers Centrepoint Trust	2.33	3.07	Buy	DDM
09/01/25	UOB Kay Hian	A-Reit	2.72	4.02	Buy	DDM
09/01/25	Lim & Tan	APAC Realty	0.735	0.82	Accumulate	PER15.5x FY25/26
09/01/25	UOB Kay Hian	ART	0.885	1.56	Buy	DDM
09/01/25	Lim & Tan	ASL Marine	0.083	0	Accumulate
09/01/25	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.28	2.79	Buy	DDM
09/01/25	UOB Kay Hian	Frasers Logistics	0.91	1.15	Buy	DDM
09/01/25	DBS Vickers	GuocoLand	1.86	2.5	Buy	RNAV (45% disc)
09/01/25	UOB Kay Hian	Keppel DC Reit	2.36	2.69	Buy	DDM
09/01/25	UOB Kay Hian	Lendlease Reit	0.6	0.79	Buy	DDM
09/01/25	UOB Kay Hian	Mapletree Commercial	1.38	1.86	Buy	DDM
09/01/25	UOB Kay Hian	Mapletree Logistics	1.22	1.33	Hold	DDM
09/01/25	UOB Kay Hian	Parkway Life	4.22	5.34	Buy	DDM
09/01/25	Phillip	Singtel	4.31	4.86	Accumulate	Ev/Ebitda8x
09/01/25	OCBC	ST Engineering	7.68	8.9	Buy
09/01/25	UOB Kay Hian	Suntec Reit	1.32	1.31	Hold	DDM
09/01/25	DBS Vickers	Yangzijiang Shipping	2.91	3.8	Buy	PB2.5x FY25, PER11x FY25