Sembcorp Industries - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/03/24	Lim & Tan	Sembcorp Industries	5.09	7.16	Accumulate
06/03/24	OCBC	Sembcorp Industries	5.09	6.73	Buy
06/07/24	Lim & Tan	Sembcorp Industries	5.06	7	Accumulate
06/07/24	Citi Research	Sembcorp Industries	5.06	6.68	Buy
07/04/24	UOB Kay Hian	Sembcorp Industries	4.65	7.49	Buy	PER13.6x
07/12/24	CIMB	Sembcorp Industries	4.77	7.49	Add
08/07/24	DBS Vickers	Sembcorp Industries	4.45	7.35	Buy	PER14x FY24
08/07/24	CIMB	Sembcorp Industries	4.45	7.32	Add
08/12/24	phillip	Sembcorp Industries	4.75	6.27	Buy	EV/Ebitda8x FY24
08/12/24	Kim Eng	Sembcorp Industries	4.75	5.5	Buy
08/22/24	Lim & Tan	Sembcorp Industries	4.76	4.8	Accumulate
09/02/24	DBS Vickers	Sembcorp Industries	4.93	7.35	Buy	PER14x FY24
09/02/24	Lim & Tan	Sembcorp Industries	4.93	6.75	Accumulate
09/18/24	CIMB	Sembcorp Industries	5.19	7.32	Add	PER
09/19/24	Kim Eng	Sembcorp Industries	5.3	6	Buy
10/08/24	UOB Kay Hian	Sembcorp Industries	5.56	7.47	Buy
11/01/24	UOB Kay Hian	Sembcorp Industries	5.04	7.47	Buy	PER12.8x FY24
11/12/24	Kim Eng	Sembcorp Industries	5.02	6	Buy
11/15/24	CIMB	Sembcorp Industries	5.02	7.32	Add
11/15/24	Kim Eng	Sembcorp Industries	5.02	6	Buy
11/26/24	Lim & Tan	Sembcorp Industries	5.23	6.82	Accumulate
12/03/24	DBS Vickers	Sembcorp Industries	5.28	7.35	Buy	PER14x FY25
12/03/24	Lim & Tan	Sembcorp Industries	5.28	6.82	Accumulate
12/11/24	Kim Eng	Sembcorp Industries	5.67	6.2	Buy	Sum of parts
12/18/24	Lim & Tan	Sembcorp Industries	5.4	6.84	Accumulate
01/02/25	UOB Kay Hian	Sembcorp Industries	5.52	7.47	Buy	PER12.8x FY25
01/20/25	Lim & Tan	Sembcorp Industries	5.63	6.8	Accumulate
02/03/25	UOB Kay Hian	Sembcorp Industries	5.58	7.47	Buy	PER12.8x FY25
02/03/25	Lim & Tan	Sembcorp Industries	5.58	6.8	Accumulate
02/03/25	Citi Research	Sembcorp Industries	5.58	6.68	Buy	Sum of parts
02/21/25	DBS Vickers	Sembcorp Industries	5.54	7.38	Buy	PER12x FY25
02/28/25	UOB Kay Hian	Sembcorp Industries	6.03	8	Buy	PER12.6x FY25
02/28/25	OCBC	Sembcorp Industries	6.03	7.4	Buy
03/03/25	DBS Vickers	Sembcorp Industries	6.09	8	Buy	PER13x FY25
03/04/25	Kim Eng	Sembcorp Industries	6.32	7.1	Buy	Sum of parts
03/06/25	phillip	Sembcorp Industries	6.35	7.1	Accumulate	EV/Ebitda8x FY25
03/13/25	Lim & Tan	Sembcorp Industries	6.05	7.25	Accumulate
03/17/25	UOB Kay Hian	Sembcorp Industries	5.96	8	Buy	PER12.6x FY25
03/17/25	CIMB	Sembcorp Industries	5.96	7.81	Add
03/19/25	Lim & Tan	Sembcorp Industries	6.2	7.3	Accumulate
04/02/25	DBS Vickers	Sembcorp Industries	6.42	8	Buy	PER13x FY25
04/02/25	Lim & Tan	Sembcorp Industries	6.42	7.3	Accumulate
04/03/25	CIMB	Sembcorp Industries	6.58	8.14	Add	PER
05/26/25	Lim & Tan	Sembcorp Industries	6.56	7.46	Accumulate on weakness
06/06/25	UOB Kay Hian	Sembcorp Industries	6.65	8	Buy	PER12.6x FY25
06/16/25	Lim & Tan	Sembcorp Industries	6.89	7.79	Accumulate on weakness
06/30/25	phillip	Sembcorp Industries	6.83	8.1	Buy	EV/Ebitda9x FY25
07/15/25	OCBC	Sembcorp Industries	7.51	8.45	Buy
07/17/25	CIMB	Sembcorp Industries	7.71	8.54	Add
08/08/25	DBS Vickers	Sembcorp Industries	7.8	8	Buy	PER13x FY25
08/11/25	UOB Kay Hian	Sembcorp Industries	6.72	7.9	Buy	PER12.8x
08/11/25	phillip	Sembcorp Industries	6.72	7.9	Buy	EV/Ebitda9x FY25

Stock calls for 16 September 2025

Date	Analyst	Company	Last	Target	Call	Valuation
09/16/25	Kim Eng	Food Empire	2.62	2.92	Buy
09/16/25	Lim & Tan	Jardine C&C	29.28	24.5	Hold
09/16/25	Lim & Tan	SGX	17.05	16.06	Hold
09/16/25	UOB Kay Hian	SIA	6.51	6.05	Sell	PB1.17x FY26

The Fed vs Trump for September FOMC meeting.

Trump is expecting the US Fed to cut at least 50bp this week.

What will the US fed do?

The Fedwatch tool is only projecting a 25bp cut this week just to get Trump off the Fed's back.

Seatrium - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/05/24	DBS Vickers	Seatrium	1.78	3	Buy
06/06/24	CIMB	Seatrium	1.72	2.62	Add
06/10/24	Lim & Tan	Seatrium	1.7	2.83	Accumulate
06/18/24	Citi Research	Seatrium	1.67	1.96	Buy
06/26/24	UOB Kay Hian	Seatrium	1.49	2.35	Buy	PB
07/15/24	DBS Vickers	Seatrium	1.48	3	Buy	PB1.5x FY24
07/23/24	Lim & Tan	Seatrium	1.45	2.71	Accumulate
08/05/24	DBS Vickers	Seatrium	1.49	3	Buy
08/05/24	UOB Kay Hian	Seatrium	1.49	2.31	Buy
08/05/24	Lim & Tan	Seatrium	1.49	2.66	Accumulate
09/04/24	CIMB	Seatrium	1.57	2.69	Add
09/09/24	UOB Kay Hian	Seatrium	1.56	2.31	Buy	PB
09/24/24	DBS Vickers	Seatrium	1.72	3	Buy
10/04/24	Lim & Tan	Seatrium	1.77	2.57	Overweight
10/04/24	Citi Research	Seatrium	1.77	2.1	Buy
10/08/24	DBS Vickers	Seatrium	2.1	3	Buy
10/22/24	Lim & Tan	Seatrium	1.97	0	Hold
11/01/24	UOB Kay Hian	Seatrium	1.9	2.8	Buy	PB1.4x
11/11/24	Lim & Tan	Seatrium	2	0	Hold
11/19/24	CIMB	Seatrium	1.84	2.69	Add
11/25/24	DBS Vickers	Seatrium	1.91	3	Buy
12/24/24	Lim & Tan	Seatrium	1.93	0	Hold
12/24/24	DBS Vickers	Seatrium	1.93	3	Buy
01/02/25	UOB Kay Hian	Seatrium	2.07	2.8	Buy	PB1.4x
01/02/25	OCBC	Seatrium	2.07	2.64	Buy
01/21/25	CIMB	Seatrium	2.23	2.9	Add
01/28/25	DBS Vickers	Seatrium	2.22	3	Buy
01/28/25	Lim & Tan	Seatrium	2.22	0	Hold
02/03/25	UOB Kay Hian	Seatrium	2.23	2.8	Buy	PB1.4x
02/14/25	Lim & Tan	Seatrium	2.55	0	Hold
02/14/25	CIMB	Seatrium	2.55	2.9	Add
02/18/25	OCBC	Seatrium	2.57	2.82	Buy
02/20/25	DBS Vickers	Seatrium	2.55	3	Buy
02/21/25	Lim & Tan	Seatrium	2.5	0	Sell
02/21/25	Citi Research	Seatrium	2.5	2.65	Hold
02/24/25	UOB Kay Hian	Seatrium	2.38	2.96	Buy	PB1.5x
02/24/25	CIMB	Seatrium	2.38	2.8	Add	PB
03/04/25	UOB Kay Hian	Seatrium	2.15	2.96	Buy	PB1.5x
03/04/25	Citi Research	Seatrium	2.15	2.65	Buy
04/10/25	DBS Vickers	Seatrium	1.68	3	Buy
05/07/25	UOB Kay Hian	Seatrium	1.92	2.96	Buy	PB1.5x
05/29/25	DBS Vickers	Seatrium	2.06	3	Buy
05/29/25	Lim & Tan	Seatrium	2.06	2.72	Accumulate on weakness
05/29/25	OCBC	Seatrium	2.06	2.76	Buy
05/30/25	CIMB	Seatrium	2.07	2.8	Add
06/02/25	UOB Kay Hian	Seatrium	2.05	2.96	Buy	PB1.5x
06/02/25	MorningStar	Seatrium	2.05	2.92	4-Star
07/01/25	CIMB	Seatrium	2.01	2.8	Add	PB
07/07/25	UOB Kay Hian	Seatrium	2.07	2.96	Buy	PB1.5x
08/01/25	UOB Kay Hian	Seatrium	2.27	2.96	Buy	PB1.5x
08/01/25	DBS Vickers	Seatrium	2.27	2.96	Buy	PB1.5x FY25
08/01/25	CIMB	Seatrium	2.27	2.8	Add	PB
08/28/25	Lim & Tan	Seatrium	2.29	2.75	Accumulate on weakness
08/28/25	Citi Research	Seatrium	2.29	2.65	Buy