Venture - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/21/24	CIMB	Venture	14	15.93	Add
07/08/24	DBS Vickers	Venture	14.14	16.4	Buy	PER16x FY24/25
07/25/24	DMG & Partners	Venture	14.9	16.5	Buy	PER16x FY24/25
07/31/24	UOB Kay Hian	Venture	14.96	16.37	Buy	PER17x FY24
08/07/24	DBS Vickers	Venture	14.4	16.4	Buy	PER16x FY24/25
08/07/24	UOB Kay Hian	Venture	14.4	16.17	Buy
08/07/24	Lim & Tan	Venture	14.4	0	Accumulate
08/07/24	CIMB	Venture	14.4	15.93	Add
08/07/24	DMG & Partners	Venture	14.4	16.46	Buy
08/08/24	Phillip	Venture	13.76	13	Neutral	PER14x
09/27/24	Lim & Tan	Venture	14.16	0	Accumulate
09/27/24	Kim Eng	Venture	14.16	14.2	Hold
10/07/24	DBS Vickers	Venture	13.88	16.4	Buy	PER16x FY24/25
10/17/24	UOB Kay Hian	Venture	13.75	16.17	Buy
11/01/24	UOB Kay Hian	Venture	13.3	16.17	Buy	PER17x FY25
11/11/24	Phillip	Venture	13.65	13	Neutral	PER14x FY25
11/11/24	DBS Vickers	Venture	13.65	15.1	Buy	PER17x FY25
11/11/24	Citi Research	Venture	13.65	14	Neutral
11/11/24	CIMB	Venture	13.65	14.34	Add
11/11/24	Kim Eng	Venture	13.65	12.6	Hold
11/12/24	DMG & Partners	Venture	12.9	15.4	Buy	PER16x FY25
12/02/24	UOB Kay Hian	Venture	12.87	15.55	Buy	PER17x FY25
12/16/24	DMG & Partners	Venture	13.05	15.37	Buy	PER16x FY25
01/02/25	UOB Kay Hian	Venture	13.15	15.55	Buy	PER17x FY25
02/19/25	DMG & Partners	Venture	12.95	15.37	Buy	PER16x FY25
02/24/25	DBS Vickers	Venture	12.94	14.7	Buy	PER17x FY25
02/24/25	Phillip	Venture	12.94	11.8	Neutral
02/24/25	Lim & Tan	Venture	12.94	0	Accumulate
02/24/25	Citi Research	Venture	12.94	13.8	Neutral
02/28/25	UOB Kay Hian	Venture	12.78	13.35	Buy
02/28/25	Kim Eng	Venture	12.78	12.4	Hold	PER15x FY25
02/28/25	DMG & Partners	Venture	12.78	14.7	Buy
04/09/25	CIMB	Venture	10.91	10.13	Hold
04/10/25	DBS Vickers	Venture	10.4	14.7	Buy	PER17x FY25
04/16/25	DMG & Partners	Venture	10.84	12.5	Buy
04/22/25	UOB Kay Hian	Venture	10.88	13.35	Hold	PER15.5x FY25
05/06/25	Citi Research	Venture	11	11.8	Neutral
05/15/25	UOB Kay Hian	Venture	11.27	12.01	Hold	PER15.3x FY25
05/15/25	Phillip	Venture	11.27	10.4	Neutral	PER13x FY25
05/15/25	DBS Vickers	Venture	11.27	11.8	Hold	PER15x FY25
05/15/25	Kim Eng	Venture	11.27	9.4	Hold
05/20/25	Lim & Tan	Venture	11.33	11.88	Accumulate on weakness
05/20/25	CIMB	Venture	11.33	10.97	Hold	PER13.1x FY26
06/13/25	DMG & Partners	Venture	11.45	12.61	Buy	PER15x FY26
07/28/25	CIMB	Venture	12.48	12.14	Hold
08/05/25	UOB Kay Hian	Venture	12.7	12.01	Hold	PER15.3x FY25
08/07/25	UOB Kay Hian	Venture	12.72	14.35	Buy	PER17.7x FY26
08/07/25	Phillip	Venture	12.72	11.3	Neutral	PER14x FY25
08/07/25	DBS Vickers	Venture	12.72	13.6	Hold	PER16x FY25/26
08/07/25	CIMB	Venture	12.72	13.45	Add	PER
08/07/25	Citi Research	Venture	12.72	11.8	Neutral	DCF
08/26/25	DMG & Partners	Venture	13.51	15	Buy	PER18x FY25/26

Valuetronics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/03/24	phillip	Valuetronics	0.625	0.76	Buy	PER11x
06/25/24	Lim & Tan	Valuetronics	0.625	0.77	Accumulate
06/28/24	UOB Kay Hian	Valuetronics	0.635	0.78	Buy
07/01/24	phillip	Valuetronics	0.635	0.76	Buy	PER11x
07/03/24	Lim & Tan	Valuetronics	0.64	0.77	Accumulate
08/28/24	UOB Kay Hian	Valuetronics	0.6	0.78	Buy
11/14/24	phillip	Valuetronics	0.635	0.785	Buy	PER11x
11/14/24	UOB Kay Hian	Valuetronics	0.635	0.78	Buy	PER10.8x FY25
11/14/24	Lim & Tan	Valuetronics	0.635	0.77	Accumulate
04/22/25	UOB Kay Hian	Valuetronics	0.615	0.78	Buy	PER10.8x FY25
05/27/25	UOB Kay Hian	Valuetronics	0.68	0.78	Buy	PER10.8x FY25
05/29/25	Lim & Tan	Valuetronics	0.695	0.78	Accumulate on weakness
05/30/25	UOB Kay Hian	Valuetronics	0.685	0.83	Buy	PER11x FY26
06/09/25	phillip	Valuetronics	0.7	0.785	Accumulate	PER11x
07/02/25	UOB Kay Hian	Valuetronics	0.735	0.83	Buy	PER11x FY26
07/02/25	DBS Vickers	Valuetronics	0.735	0.95	Not Rated	PER13x FY27
07/09/25	Lim & Tan	Valuetronics	0.74	0.81	Accumulate on weakness
08/05/25	UOB Kay Hian	Valuetronics	0.79	0.83	Buy	PER11x FY26

Stock calls for 30 September 2025

Date	Analyst	Company	Last	Target	Call	Valuation
09/30/25	DBS Vickers	Ascendas India Trust	1.17	1.5	Buy	DDM
09/30/25	OCBC	CapitaRetail China	0.785	0.705	Hold
09/30/25	Lim & Tan	Dezign Format	0.285	0.37	Buy
09/30/25	UOB Kay Hian	Far East Hospitality	0.6	0.81	Buy	DDM
09/30/25	Lim & Tan	Geo Energy	0.475	0.59	Buy
09/30/25	UOB Kay Hian	Keppel Reit	1.01	1.18	Buy	DDM
09/30/25	Kim Eng	Sanli Env	0.265	0.38	Buy	PER15x FY26/27
09/30/25	Kim Eng	Singtel	4.12	4.62	Buy	Sum of parts

UOL - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/16/24	CIMB	UOL	5.44	8.2	Add	RNAV
07/16/24	Citi Research	UOL	5.44	9.2	Buy	RNAV (40% disc)
08/06/24	OCBC	UOL	5.25	8.11	Buy
08/13/24	Citi Research	UOL	5.31	9.2	Buy	RNAV (40% disc)
08/20/24	Lim & Tan	UOL	5.2	7.47	Accumulate
09/17/24	CIMB	UOL	5.64	8.2	Add	RNAV
10/07/24	Citi Research	UOL	5.59	9.2	Buy	RNAV (40% disc)
10/14/24	DBS Vickers	UOL	5.4	8.4	Buy	RNAV (40% disc)
10/16/24	CIMB	UOL	5.37	8.2	Add	RNAV
02/28/25	DBS Vickers	UOL	5.3	8.4	Buy	RNAV (40% disc)
02/28/25	Lim & Tan	UOL	5.3	7.58	Buy
03/14/25	CIMB	UOL	5.76	8.2	Add	RNAV
03/26/25	DBS Vickers	UOL	5.8	8.5	Buy	RNAV (40% disc)
05/20/25	DBS Vickers	UOL	5.74	8.4	Buy	RNAV (40% disc)
06/05/25	DBS Vickers	UOL	6.02	8.4	Buy	RNAV (40% disc)
07/02/25	CIMB	UOL	6.56	8.2	Add	RNAV
07/02/25	Citi Research	UOL	6.56	9.6	Buy	RNAV (40% disc)
08/14/25	CIMB	UOL	7.16	8.2	Add	RNAV
08/18/25	Lim & Tan	UOL	7.27	8.06	Buy
08/20/25	DBS Vickers	UOL	7.19	8.8	Buy	RNAV (40% disc)
08/20/25	Lim & Tan	UOL	7.19	8.11	Buy
09/05/25	CLSA	UOL	7.25	10.5	Outperform
09/11/25	DBS Vickers	UOL	7.4	8.8	Buy	RNAV (40% disc)
09/11/25	Lim & Tan	UOL	7.4	8.37	Buy
09/11/25	Citi Research	UOL	7.4	9.6	Buy	RNAV (40% disc)