Thai Beverage - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/19	UOB Kay Hian	Thai Beverage	0.59	0.8	Buy	Sum of parts
01/18/19	DMG & Partners	Thai Beverage	0.715	0.85	Buy	Sum of parts
02/13/19	CIMB	Thai Beverage	0.72	0.83	Add	Sum of parts
02/15/19	DBS Vickers	Thai Beverage	0.72	0.87	Buy
02/18/19	UOB Kay Hian	Thai Beverage	0.815	0.86	Hold	Sum of parts, buy @ $0.76
02/18/19	DMG & Partners	Thai Beverage	0.815	0.92	Buy	Sum of parts
02/18/19	JP Morgan	Thai Beverage	0.815	0.86	Overweight
02/18/19	CIMB	Thai Beverage	0.815	0.9	Add	Sum of parts
02/18/19	OCBC	Thai Beverage	0.815	0.91	Buy
02/18/19	Nomura	Thai Beverage	0.815	0.98	Buy
02/19/19	Phillip	Thai Beverage	0.82	0.81	Neutral	Sum of parts
02/19/19	Amfrasers	Thai Beverage	0.82	0.75	Hold
02/27/19	DBS Vickers	Thai Beverage	0.81	0.94	Buy
03/14/19	UOB Kay Hian	Thai Beverage	0.805	0.86	Hold	Sum of parts, Buy @ $0.78
04/05/19	DMG & Partners	Thai Beverage	0.825	0.92	Buy
05/13/19	Phillip	Thai Beverage	0.825	0.83	Neutral	Sum of parts
05/13/19	CIMB	Thai Beverage	0.825	0.94	Add
05/13/19	UOB Kay Hian	Thai Beverage	0.825	0.85	Hold	Sum of parts, Buy @ $0.76
05/13/19	DMG & Partners	Thai Beverage	0.825	0.92	Buy	Sum of parts
05/13/19	OCBC	Thai Beverage	0.825	0.88	Hold
05/13/19	DBS Vickers	Thai Beverage	0.825	0.91	Buy	Sum of parts
05/14/19	Amfrasers	Thai Beverage	0.765	0.75	Hold
05/28/19	OCBC	Thai Beverage	0.805	0.86	Hold
06/06/19	DMG & Partners	Thai Beverage	0.84	0.92	Buy	Sum of parts, PER23x
06/06/19	JP Morgan	Thai Beverage	0.84	0.88	Overweight
06/06/19	DBS Vickers	Thai Beverage	0.84	0.91	Buy
08/15/19	DBS Vickers	Thai Beverage	0.83	0.91	Buy
08/15/19	JP Morgan	Thai Beverage	0.83	0.96	Overweight
08/16/19	CIMB	Thai Beverage	0.905	1	Add	Sum of parts
08/16/19	DMG & Partners	Thai Beverage	0.905	0.92	Take Profit	Sum of parts, PER19x FY20
06/06/19	Amfrasers	Thai Beverage	0.885	0.8	Neutral
08/22/19	Phillip	Thai Beverage	0.925	0.83	Neutral	Sum of parts
09/02/19	UOB Kay Hian	Thai Beverage	0.9	0.87	Hold	Sum of parts, Buy @ $0.76
10/01/19	DBS Vickers	Thai Beverage	0.885	0.91	Buy
10/03/19	CIMB	Thai Beverage	0.88	1	Add	Sum of parts
10/03/19	UOB Kay Hian	Thai Beverage	0.88	0.87	Hold	Sum of parts, Buy @ $0.76
11/25/19	UOB Kay Hian	Thai Beverage	0.89	0.9	Hold	Buy @ $0.78
11/25/19	DMG & Partners	Thai Beverage	0.89	0.95	Neutral	Sum of parts
11/25/19	CIMB	Thai Beverage	0.89	1.02	Add	Sum of parts
11/25/19	DBS Vickers	Thai Beverage	0.89	1.04	Buy	Sum of parts
11/26/19	Phillip	Thai Beverage	0.89	0.8	Reduce	Sum of parts
11/26/19	OCBC	Thai Beverage	0.89	0.91	Hold
11/29/19	Morgan Stanley	Thai Beverage	0.865	1.08	Overweight
11/29/19	Nomura	Thai Beverage	0.865	1.04	Buy
11/29/19	JP Morgan	Thai Beverage	0.865	1	Overweight
11/29/19	Credit Suisse	Thai Beverage	0.865	0.9	Neutral
12/03/19	UOB Kay Hian	Thai Beverage	0.89	0.9	Hold	Sum of parts, Buy @ $0.78
12/11/19	DMG & Partners	Thai Beverage	0.89	0.95	Neutral

Talkmed - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/07/19	DMG & Partners	Talkmed	0.59	0.64	Neutral
02/21/19	DMG & Partners	Talkmed	0.58	0.62	Neutral	DCF
04/29/19	DMG & Partners	Talkmed	0.51	0.62	Buy	DCF
10/15/19	DMG & Partners	Talkmed	0.515	0.62	Buy
11/15/19	DMG & Partners	Talkmed	0.505	0.62	Buy	DCF

Suntec Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/19	OCBC	Suntec Reit	1.86	1.83	Hold
01/24/19	DBS Vickers	Suntec Reit	1.87	2.12	Buy	DCF
01/24/19	OCBC	Suntec Reit	1.87	1.84	Hold
01/24/19	DMG & Partners	Suntec Reit	1.87	1.9	Neutral	DDM
01/24/19	Jefferies	Suntec Reit	1.87	1.85	Hold	Up from $1.80
01/28/19	UOB Kay Hian	Suntec Reit	1.93	2.01	Hold	Buy @ $1.83
01/28/19	CIMB	Suntec Reit	1.93	2.06	Add
03/18/19	DMG & Partners	Suntec Reit	1.93	1.9	Neutral
04/02/19	DBS Vickers	Suntec Reit	1.96	2.12	Buy
04/24/19	OCBC	Suntec Reit	1.86	1.84	Hold
04/25/19	OCBC	Suntec Reit	1.89	1.83	Hold	DDM
05/28/19	CIMB	Suntec Reit	1.82	2.06	Add
05/30/19	OCBC	Suntec Reit	1.82	1.99	Hold	Buy @ $1.81
06/20/19	DMG & Partners	Suntec Reit	1.92	1.9	Neutral	DDM
07/02/19	CIMB	Suntec Reit	1.95	2.15	Add	DDM
07/02/19	DBS Vickers	Suntec Reit	1.95	2.2	Buy	DCF
07/04/19	DMG & Partners	Suntec Reit	1.97	1.9	Neutral
07/10/19	UOB Kay Hian	Suntec Reit	1.95	2	Hold	DDM, Buy @ $1.82
07/29/19	DMG & Partners	Suntec Reit	1.92	2.08	Buy	DDM
07/29/19	OCBC	Suntec Reit	1.92	2.07	Hold
07/30/19	UOB Kay Hian	Suntec Reit	1.93	2.02	Hold	Buy @ $1.84
07/30/19	DBS Vickers	Suntec Reit	1.93	2.15	Buy	DCF
08/27/19	UOB Kay Hian	Suntec Reit	1.89	1.96	Hold	Buy @ $1.79
09/11/19	DMG & Partners	Suntec Reit	1.94	2.08	Buy
10/02/19	DMG & Partners	Suntec Reit	1.91	2.08	Buy
10/04/19	DBS Vickers	Suntec Reit	1.9	2.15	Buy
10/24/19	OCBC	Suntec Reit	1.85	2.05	Hold
10/25/19	UOB Kay Hian	Suntec Reit	1.89	1.99	Hold	Buy @ $1.82
12/04/19	DBS Vickers	Suntec Reit	1.83	2.15	Buy
12/10/19	DMG & Partners	Suntec Reit	1.84	2.08	Buy

Sunpower - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/10/19	UOB Kay Hian	Sunpower	0.385	0.76	Buy	Sum of parts
03/01/19	UOB Kay Hian	Sunpower	0.585	0.88	Buy	Sum of parts
08/16/19	UOB Kay Hian	Sunpower	0.44	0.83	Buy
12/06/19	Amfrasers	Sunpower	0.55	0.91	outperform	Sum of parts
12/16/19	DBS Vickers	Sunpower	0.59	0.81	Buy	DCF

Cathy Pacific is reaping what it had sowed in the past.

https://www.scmp.com/news/hong-kong/transport/article/3042540/cathay-pacific-staff-leaving-new-round-employee-exits

Cathy Pacific has no choice but to streamline its human resources to cut costs now.  Cathy Pacific encouraged its employees to protest against the HK government without thinking of its consequences.  In the end, it is reaping what it has sowed as its employees are facing job securities now.

http://sg-stock.blogspot.com/2019/09/cathy-pacific-is-high-risk-airliner-fly.html

http://sg-stock.blogspot.com/2019/09/cathy-pacific-to-cut-capacity-because.html

I hope that Cathy Pacific will use this job cutting exercise to eradicate the 3,000 terrorists in its company for the sake of passengers' safety.

The wall street analysts are starting to share my viewpoints now.

https://www.marketwatch.com/story/why-wall-street-sees-the-stock-market-on-the-verge-of-a-melt-up-2019-12-16?siteid=yhoof2&yptr=yahoo

I've stated in September 2019 that the US economy would be in a precarious situation after March 2020 (after Q1 2020).  The wall street analysts are starting to share my viewpoints now.

http://sg-stock.blogspot.com/2019/09/ecb-cut-rates-and-restart-qe.html

Thus, the end of Q1 2020 will also be the end of the stock market euphoria and I've stated this much earlier than other analysts.

Sunningdale - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/01/19	UOB Kay Hian	Sunningdale	1.56	1.3	Hold	PER11x FY19, Buy @ $1.20
03/01/19	Lim & Tan	Sunningdale	1.56	0	Hold
03/05/19	CIMB	Sunningdale	1.4	1.38	Reduce	PB0.69x FY19
04/11/19	Lim & Tan	Sunningdale	1.39	0	Hold
05/07/19	Lim & Tan	Sunningdale	1.35	0	Hold
05/09/19	UOB Kay Hian	Sunningdale	1.32	1.22	Hold	PER11x FY20, Buy @ $1.10
05/09/19	CIMB	Sunningdale	1.32	1.38	Hold	PB0.69x FY19
08/07/19	UOB Kay Hian	Sunningdale	1.28	1.01	Sell
11/08/19	UOB Kay Hian	Sunningdale	1.27	1.13	Hold	PER12.3x FY20, Buy @ $1.05
12/13/19	Lim & Tan	Sunningdale	1.28	0	Buy

Starhub - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	UOB Kay Hian	Starhub	1.75	1.6	Sell
01/02/19	Kim Eng	Starhub	1.75	2.21	Buy
01/04/19	Phillip	Starhub	1.71	1.88	Accumlate	EV/Ebitda6x FY19
01/14/19	DMG & Partners	Starhub	1.77	1.9	Neutral
01/15/19	DBS Vickers	Starhub	1.77	2.45	Buy	DCF
02/07/19	Kim Eng	Starhub	1.82	2.21	Buy
02/08/19	DBS Vickers	Starhub	1.89	2.45	Buy
02/15/19	OCBC	Starhub	1.9	1.64	Sell
02/15/19	DMG & Partners	Starhub	1.9	2.02	Neutral	DCF
02/15/19	DBS Vickers	Starhub	1.9	1.92	Hold	DCF
02/15/19	Lim & Tan	Starhub	1.9	0	Sell
02/18/19	Phillip	Starhub	1.67	1.58	Neutral	EV/Ebitda
02/18/19	Kim Eng	Starhub	1.67	2.18	Buy	DCF
02/18/19	UOB Kay Hian	Starhub	1.67	1.45	Sell	DCF
02/19/19	CIMB	Starhub	1.61	2	Hold	DCF
03/26/19	CIMB	Starhub	1.51	1.65	Hold	DCF (10% discount)
04/01/19	Kim Eng	Starhub	1.49	2.18	Buy
05/06/19	Phillip	Starhub	1.58	1.62	Neutral
05/06/19	UOB Kay Hian	Starhub	1.58	1.45	Sell	DCF
05/06/19	CIMB	Starhub	1.58	1.65	Hold	DCF (10% discount)
05/06/19	DMG & Partners	Starhub	1.58	1.72	Neutral	DCF
05/06/19	OCBC	Starhub	1.58	1.64	Hold
05/06/19	Kim Eng	Starhub	1.58	2	buy	DCF
06/03/19	Phillip	Starhub	1.49	1.62	Accumlate	EV/Ebitda6x FY19
06/06/19	DMG & Partners	Starhub	1.49	1.72	Neutral
07/17/19	UOB Kay Hian	Starhub	1.54	1.45	Sell	DCF
08/07/19	Phillip	Starhub	1.48	1.58	Accumlate	EV/Ebitda6x
08/07/19	DMG & Partners	Starhub	1.48	1.52	Neutral	DCF
08/07/19	OCBC	Starhub	1.48	1.52	Hold
08/07/19	UOB Kay Hian	Starhub	1.48	1.45	Sell
08/07/19	DBS Vickers	Starhub	1.48	1.55	Hold	EV/Ebitda 6.6x FY19
08/13/19	CIMB	Starhub	1.45	1.65	Hold	DCF
10/18/19	DBS Vickers	Starhub	1.28	1.55	Hold
10/24/19	DBS Vickers	Starhub	1.32	1.3	Hold	EV/Ebitda6x FY20
10/24/19	CIMB	Starhub	1.32	1.65	Hold
10/24/19	Kim Eng	Starhub	1.32	2	Buy
11/06/19	CIMB	Starhub	1.32	1.65	Add	DCF
11/06/19	Kim Eng	Starhub	1.32	2	Buy	DCF
11/06/19	DMG & Partners	Starhub	1.32	1.44	Neutral	DCF
11/06/19	UOB Kay Hian	Starhub	1.32	1.45	Hold	EV/Ebitda5.4x, Buy @ $1.25
11/07/19	Phillip	Starhub	1.43	1.58	Accumlate	EV/Ebitda6x
11/07/19	OCBC	Starhub	1.43	1.32	Hold
11/07/19	DBS Vickers	Starhub	1.43	1.43	Buy	EV/Ebitda6x

Starhill - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	DMG & Partners	Starhill	0.68	0.8	Buy	DDM
01/31/19	CIMB	Starhill	0.72	0.75	Add	DDM
01/31/19	DBS Vickers	Starhill	0.72	0.75	Buy
02/01/19	OCBC	Starhill	0.715	0.75	Buy
03/13/19	DMG & Partners	Starhill	0.7	0.8	Buy
03/19/19	OCBC	Starhill	0.7	0.75	Buy
03/20/19	DBS Vickers	Starhill	0.695	0.75	Buy
03/21/19	DMG & Partners	Starhill	0.705	0.78	Buy	DDM
03/22/19	CIMB	Starhill	0.7	0.74	Add	DDM
04/29/19	OCBC	Starhill	0.75	0.8	Buy
04/29/19	DMG & Partners	Starhill	0.75	0.78	Buy	DDM
04/29/19	DBS Vickers	Starhill	0.75	0.8	Buy
04/29/19	CIMB	Starhill	0.75	0.77	Add
04/29/19	Kim Eng	Starhill	0.75	0.7	Hold
04/30/19	UOB Kay Hian	Starhill	0.755	0.9	Buy	DDM
05/07/19	DMG & Partners	Starhill	0.74	0.78	Buy	DDM
06/06/19	DMG & Partners	Starhill	0.735	0.78	Buy
06/17/19	OCBC	Starhill	0.755	0.8	Buy
07/04/19	DMG & Partners	Starhill	0.78	0.78	Buy
07/31/19	CIMB	Starhill	0.8	0.79	Hold
08/02/19	DMG & Partners	Starhill	0.78	0.78	Neutral	DDM
08/06/19	OCBC	Starhill	0.775	0.81	Buy
10/07/19	CIMB	Starhill	0.74	0.75	Hold	DDM
12/10/19	DMG & Partners	Starhill	0.725	0.8	Neutral

Stock calls for 19 December 2019

Date	Analyst	Company	Last	Target	Call	Valuation
12/19/19	DBS Vickers	A-Reit	2.92	3.4	Buy
12/19/19	Kim Eng	ART	1.35	1.4	Hold	DDM
12/19/19	DBS Vickers	Ascendas India Trust	1.53	1.65	Buy
12/19/19	DBS Vickers	Far East Hospitality	0.72	0.8	Buy
12/19/19	DBS Vickers	Frasers Centrepoint Trust	2.7	2.95	Buy
12/19/19	DMG & Partners	Keppel Corp	6.75	7.8	Buy
12/19/19	DBS Vickers	Mapletree Industrial	2.52	2.75	Buy
12/19/19	DBS Vickers	Mapletree Logistics	1.67	1.9	Buy
12/19/19	Lim & Tan	Overseas Edu	0.32	0	Buy
12/19/19	DMG & Partners	ST Engineering	3.9	4.55	Buy
12/19/19	DMG & Partners	Wilmar	4.08	4.75	Buy

Stamford Land - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/23/19	Lim & Tan	Stamford Land	0.49	0	Hold

ST Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	DMG & Partners	ST Engineering	3.51	3.97	Buy
01/23/19	CIMB	ST Engineering	3.66	3.94	Add
01/31/19	UOB Kay Hian	ST Engineering	3.66	4.06	Buy
02/08/19	DBS Vickers	ST Engineering	3.75	4.15	Buy	Sum of parts
02/21/19	Lim & Tan	ST Engineering	3.77	0	Hold
02/22/19	OCBC	ST Engineering	3.71	4.01	Buy	FCFE
02/22/19	DMG & Partners	ST Engineering	3.71	4.1	Buy
02/22/19	UOB Kay Hian	ST Engineering	3.71	4.06	Buy
02/22/19	Kim Eng	ST Engineering	3.71	4.25	Buy	DCF
03/13/19	DMG & Partners	ST Engineering	3.74	4.1	Buy
03/26/19	CIMB	ST Engineering	3.75	4.08	Add
03/28/19	UOB Kay Hian	ST Engineering	3.75	4.06	Buy
03/28/19	Lim & Tan	ST Engineering	3.75	0	Hold
03/29/19	UOB Kay Hian	ST Engineering	3.73	4.4	Buy	EV/Invested capital basis
03/29/19	OCBC	ST Engineering	3.73	4.07	Buy
03/29/19	DBS Vickers	ST Engineering	3.73	4.15	Buy
04/15/19	Kim Eng	ST Engineering	3.82	4.25	Buy
04/25/19	UOB Kay Hian	ST Engineering	3.9	4.7	Buy	EV/Invested capital basis
04/25/19	DMG & Partners	ST Engineering	3.9	4.1	Buy
04/25/19	Kim Eng	ST Engineering	3.9	4.3	Buy	DCF
04/26/19	DBS Vickers	ST Engineering	3.89	4.15	Buy
05/13/19	UOB Kay Hian	ST Engineering	4.02	4.7	Buy
05/16/19	OCBC	ST Engineering	3.9	4.22	Buy
05/16/19	DBS Vickers	ST Engineering	3.9	4.5	Buy	Sum of parts
05/16/19	CIMB	ST Engineering	3.9	4.43	Add	PER22x FY20
05/22/19	DMG & Partners	ST Engineering	3.96	4.45	Buy	DCF & PER20.5x FY20 & PB5.5x FY20 & EV/Ebitda11x FY20
06/06/19	DMG & Partners	ST Engineering	4	4.45	Buy
06/06/19	DBS Vickers	ST Engineering	4	4.5	Buy
06/13/19	OCBC	ST Engineering	4.09	4.38	Buy
06/13/19	UOB Kay Hian	ST Engineering	4.09	4.7	Buy
07/05/19	DMG & Partners	ST Engineering	4.24	4.45	Buy	PER20.5x FY20 & PB5.5x FY20 & EV/Ebitda11x FY20 & DCF
07/15/19	UOB Kay Hian	ST Engineering	4.29	4.7	Buy
08/15/19	UOB Kay Hian	ST Engineering	4.22	4.36	Hold
08/15/19	DMG & Partners	ST Engineering	4.22	4.7	Buy	Sum of parts
08/15/19	OCBC	ST Engineering	4.22	4.64	Buy	DCF
08/16/19	CIMB	ST Engineering	4.07	4.36	Add	Sum of parts
08/16/19	DBS Vickers	ST Engineering	4.07	4.64	Buy	Sum of parts
08/16/19	Lim & Tan	ST Engineering	4.07	0	Hold
09/11/19	DMG & Partners	ST Engineering	3.9	4.7	Buy
09/18/19	UOB Kay Hian	ST Engineering	3.9	4.34	Buy
09/20/19	Kim Eng	ST Engineering	3.92	4.3	Hold
10/01/19	DBS Vickers	ST Engineering	3.84	4.64	Buy
10/02/19	DMG & Partners	ST Engineering	3.85	4.7	Buy	Sum of parts
10/08/19	Kim Eng	ST Engineering	3.91	4.5	Buy	DCF
10/09/19	UOB Kay Hian	ST Engineering	3.92	4.34	Buy
10/14/19	CIMB	ST Engineering	4.02	4.36	Add
11/11/19	DMG & Partners	ST Engineering	4.12	4.7	Buy	Sum of parts
11/12/19	DBS Vickers	ST Engineering	4	4.64	Buy
11/12/19	CIMB	ST Engineering	4	4.47	Add
11/12/19	Kim Eng	ST Engineering	4	4.5	Buy
11/12/19	OCBC	ST Engineering	4	4.64	Buy
11/12/19	DMG & Partners	ST Engineering	4	4.55	Buy	Sum of parts
11/12/19	UOB Kay Hian	ST Engineering	4	4.32	Buy

SPH Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/07/19	OCBC	SPH Reit	1.01	0.99	Hold
01/07/19	Kim Eng	SPH Reit	1.01	1.02	Hold	DDM
01/07/19	DBS Vickers	SPH Reit	1.01	1.05	Buy	DCF
01/07/19	Lim & Tan	SPH Reit	1.01	0	Hold
01/07/19	CIMB	SPH Reit	1.01	1.02	Hold	DDM
04/08/19	Kim Eng	SPH Reit	1.06	1.05	Hold	DDM
04/08/19	CIMB	SPH Reit	1.06	1.08	Hold	DDM
04/08/19	OCBC	SPH Reit	1.06	1	Hold
04/08/19	DBS Vickers	SPH Reit	1.06	1.15	Buy	DCF
07/12/19	CIMB	SPH Reit	1.12	1.11	Hold	DDM
07/12/19	Lim & Tan	SPH Reit	1.12	0	Hold
07/15/19	OCBC	SPH Reit	1.1	1.05	Hold
07/16/19	Kim Eng	SPH Reit	1.1	1.05	Hold	DDM
07/17/19	DBS Vickers	SPH Reit	1.11	1.2	Buy	DCF
10/11/19	CIMB	SPH Reit	1.11	1.09	Hold	DDM
10/11/19	DBS Vickers	SPH Reit	1.11	1.25	Buy	DCF
10/11/19	Kim Eng	SPH Reit	1.11	1.1	Hold	DDM
10/14/19	OCBC	SPH Reit	1.13	1.05	Hold
10/15/19	OCBC	SPH Reit	1.15	1.1	Hold
11/08/19	DBS Vickers	SPH Reit	1.14	1.25	Buy
11/08/19	CIMB	SPH Reit	1.14	1.16	Hold	DDM

Stock calls for 18 December 2019

Date	Analyst	Company	Last	Target	Call	Valuation
12/18/19	Lim & Tan	Capitaland	3.67	0	Hold
12/18/19	DBS Vickers	Keppel DC Reit	1.97	2.23	Buy	DCF

Economic fissures are starting to show up in Hong Kong now.

https://www.channelnewsasia.com/news/business/seven-hong-kong-airlines-planes-impounded-by-authority-12190534

HK airlines are struggling now.

https://www.chinadaily.com.cn/a/201911/18/WS5dd2a0efa310cf3e355782e4.html

HK unemployment rate is rising and looks set to increase further.

More bad economic statistics will show up soon.

SPH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/14/19	CIMB	SPH	2.49	2.64	Hold	Sum of parts
01/14/19	Lim & Tan	SPH	2.49	0	Hold
01/15/19	OCBC	SPH	2.47	2.55	Hold
04/03/19	UOB Kay Hian	SPH	2.43	2.82	Buy
04/10/19	Lim & Tan	SPH	2.53	0	Hold
04/10/19	CIMB	SPH	2.53	2.64	Hold	Sum of parts
04/18/19	UOB Kay Hian	SPH	2.46	2.86	Buy	Sum of parts
04/18/19	OCBC	SPH	2.46	2.55	Hold
05/13/19	UOB Kay Hian	SPH	2.39	2.86	Buy
06/06/19	UOB Kay Hian	SPH	2.31	2.86	Buy	Sum of parts
07/15/19	UOB Kay Hian	SPH	2.49	2.33	Hold	Sum of parts, Buy @ $2.10
07/16/19	CIMB	SPH	2.32	2.22	Hold	Sum of parts
07/16/19	DBS Vickers	SPH	2.32	2.22	Hold	Sum of parts
09/10/19	Lim & Tan	SPH	1.99	0	Hold
10/21/19	UOB Kay Hian	SPH	2.15	2.25	Hold	Sum of parts, Buy @ $2
10/21/19	DBS Vickers	SPH	2.15	2.19	Hold	Sum of parts

Soilbuild Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/19	DBS Vickers	Soilbuild Reit	0.62	0.65	Buy	DCF
01/23/19	OCBC	Soilbuild Reit	0.62	0.62	Hold
01/23/19	Jefferies	Soilbuild Reit	0.62	0.62	Hold
04/22/19	OCBC	Soilbuild Reit	0.63	0.62	Hold
04/22/19	DBS Vickers	Soilbuild Reit	0.63	0.63	Hold	DCF
05/31/19	OCBC	Soilbuild Reit	0.6	0.62	Hold
07/17/19	Amfrasers	Soilbuild Reit	0.615	0.609	Neutral	DDM
07/18/19	Lim & Tan	Soilbuild Reit	0.61	0	Hold
07/19/19	UOB Kay Hian	Soilbuild Reit	0.615	0.6	Hold
07/19/19	DBS Vickers	Soilbuild Reit	0.615	0.63	Hold	DCF
09/03/19	OCBC	Soilbuild Reit	0.55	0.58	Accept offer
10/18/19	DBS Vickers	Soilbuild Reit	0.525	0.55	Hold	DCF
10/18/19	OCBC	Soilbuild Reit	0.525	0.52	Hold
10/18/19	Amfrasers	Soilbuild Reit	0.525	0.58	Neutral