LHN - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/07/24	UOB Kay Hian	LHN	0.33	0.4	Buy	PER9x FY24
08/22/24	Lim & Tan	LHN	0.325	0.41	Accumulate
09/05/24	Kim Eng	LHN	0.34	0.43	Buy
09/20/24	UOB Kay Hian	LHN	0.355	0.4	Buy	PER9x FY24
12/03/24	Kim Eng	LHN	0.44	0.55	Buy
12/04/24	Phillip	LHN	0.44	0.56	Buy	PER6.5x FY25
12/31/24	Lim & Tan	LHN	0.51	0.56	Accumulate
03/06/25	Kim Eng	LHN	0.46	0.55	Buy
03/06/25	Lim & Tan	LHN	0.46	0.55	Accumulate
03/12/25	Phillip	LHN	0.46	0.56	Buy	PER6.5x FY25
04/16/25	Lim & Tan	LHN	0.42	0.56	Accumulate
05/16/25	Lim & Tan	LHN	0.495	0.56	Accumulate
05/19/25	Phillip	LHN	0.505	0.61	Buy	PER7x FY25
05/19/25	Kim Eng	LHN	0.505	0.55	Buy
05/26/25	Lim & Tan	LHN	0.505	0	Accumulate on weakness
06/03/25	Lim & Tan	LHN	0.515	0.6	Accumulate on weakness
06/26/25	DBS Vickers	LHN	0.64	0.81	Not Rated	Sum of parts
07/09/25	CIMB	LHN	0.76	1	Add
09/10/25	Lim & Tan	LHN	0.86	0	Accumulate
09/11/25	Phillip	LHN	0.93	1.13	Buy	PER13x FY25
09/25/25	UOB Kay Hian	LHN	0.985	1.12	Buy	PER12x FY26
10/01/25	Lim & Tan	LHN	0.93	1.15	Accumulate

Ley Choon - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/02/25	Lim & Tan	Ley Choon	0.067	0	Accumulate

Stock calls for 19 November 2025

Date	Analyst	Company	Last	Target	Call	Valuation
11/19/25	Lim & Tan	AEM	1.73	1.6	Sell
11/19/25	Amfrasers	Elite ComReit	0.36	0.41	Outperform	DDM
11/19/25	Phillip	Frencken	1.47	1.87	Buy
11/19/25	CIMB	Mermaid Maritime	0.126	0.14	Add
11/19/25	Lim & Tan	SIA	6.48	6.22	Hold
11/19/25	UOB Kay Hian	Yangzijiang Shipping	3.26	4.1	Buy	PER9.3x FY26

Lendlease Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/04/24	UOB Kay Hian	Lendlease Reit	0.55	0.96	Buy
06/24/24	Phillip	Lendlease Reit	0.57	0.83	Buy	DDM
07/02/24	UOB Kay Hian	Lendlease Reit	0.56	0.85	Buy
07/15/24	DBS Vickers	Lendlease Reit	0.605	0.9	Buy
07/22/24	Phillip	Lendlease Reit	0.56	0.83	Buy	DDM
07/29/24	Kim Eng	Lendlease Reit	0.6	0.7	Buy
08/07/24	Phillip	Lendlease Reit	0.565	0.8	Buy	DDM
08/07/24	DBS Vickers	Lendlease Reit	0.565	0.75	Buy
08/13/24	CIMB	Lendlease Reit	0.55	0.74	Add
08/13/24	Citi Research	Lendlease Reit	0.55	0.58	Hold
09/06/24	CIMB	Lendlease Reit	0.595	0.71	Add	DDM
10/03/24	Lim & Tan	Lendlease Reit	0.625	0.73	Accumulate
11/01/24	UOB Kay Hian	Lendlease Reit	0.575	0.73	Buy	DDM
11/12/24	DBS Vickers	Lendlease Reit	0.565	0.75	Buy
11/13/24	Phillip	Lendlease Reit	0.57	0.8	Buy	DDM
11/13/24	UOB Kay Hian	Lendlease Reit	0.57	0.77	Buy	DDM
11/27/24	Phillip	Lendlease Reit	0.565	0.76	Buy	DDM
01/02/25	UOB Kay Hian	Lendlease Reit	0.55	0.77	Buy	DDM
02/05/25	Phillip	Lendlease Reit	0.54	0.74	Buy	DDM
02/05/25	CIMB	Lendlease Reit	0.54	0.69	Add	DDM
02/07/25	UOB Kay Hian	Lendlease Reit	0.53	0.72	Buy	DDM
02/07/25	DBS Vickers	Lendlease Reit	0.53	0.75	Buy
03/06/25	UOB Kay Hian	Lendlease Reit	0.49	0.72	Buy	DDM
04/01/25	UOB Kay Hian	Lendlease Reit	0.51	0.72	Buy	DDM
05/08/25	DBS Vickers	Lendlease Reit	0.515	0.75	Buy
05/09/25	Phillip	Lendlease Reit	0.505	0.69	Buy	DDM
05/21/25	UOB Kay Hian	Lendlease Reit	0.49	0.72	Buy	DDM
05/21/25	Citi Research	Lendlease Reit	0.49	0.49	Hold	DDM
06/20/25	DBS Vickers	Lendlease Reit	0.5	0.75	Buy	DCF
06/27/25	UOB Kay Hian	Lendlease Reit	0.515	0.8	Buy	DDM
07/03/25	UOB Kay Hian	Lendlease Reit	0.53	0.76	Buy	DDM
07/03/25	Kim Eng	Lendlease Reit	0.53	0.57	Hold
08/01/25	UOB Kay Hian	Lendlease Reit	0.55	0.76	Buy	DDM
08/05/25	DBS Vickers	Lendlease Reit	0.565	0.75	Buy	DCF
08/05/25	Lim & Tan	Lendlease Reit	0.565	0.63	Accumulate
08/06/25	Phillip	Lendlease Reit	0.575	0.7	Buy	DDM
08/08/25	CIMB	Lendlease Reit	0.575	0.67	Add	DDM
08/11/25	UOB Kay Hian	Lendlease Reit	0.575	0.79	Buy	DDM
08/26/25	Citi Research	Lendlease Reit	0.595	0.66	Buy	DDM
09/01/25	UOB Kay Hian	Lendlease Reit	0.6	0.79	Buy	DDM
09/23/25	DBS Vickers	Lendlease Reit	0.615	0.75	Buy	DCF
10/06/25	Kim Eng	Lendlease Reit	0.65	0.69	Buy	DDM
11/03/25	UOB Kay Hian	Lendlease Reit	0.64	0.79	Buy	DDM
11/06/25	UOB Kay Hian	Lendlease Reit	0.635	0.81	Buy	DDM

KSH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/15/24	Lim & Tan	KSH	0.2	0	Accumulate
05/30/25	Lim & Tan	KSH	0.235	0	Accumulate
07/17/25	Lim & Tan	KSH	0.28	0	Accumulate on weakness
10/27/25	Lim & Tan	KSH	0.41	0.51	Accumulate	Sum of parts
11/14/25	Lim & Tan	KSH	0.385	0.51	Accumulate	Sum of parts

Kimly - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/22/24	UOB Kay Hian	Kimly	0.31	0.35	Hold
12/09/24	UOB Kay Hian	Kimly	0.32	0.34	Hold	PER12x FY25

Stock calls for 18 November 2025

Date	Analyst	Company	Last	Target	Call	Valuation
11/18/25	CIMB	City Developments	7.31	8.97	Add	RNAV
11/18/25	Lim & Tan	City Developments	7.31	8.51	Hold
11/18/25	DBS Vickers	Digicore Reit	0.5	0.68	Buy	DCF
11/18/25	UOB Kay Hian	Frencken	1.52	1.8	Buy	PER18.8x FY26
11/18/25	DBS Vickers	Frencken	1.52	1.92	Buy	PER20x FY26
11/18/25	CIMB	Frencken	1.52	1.72	Add	PER
11/18/25	Lim & Tan	Frencken	1.52	1.83	Accumulate on weakness
11/18/25	DBS Vickers	Mapletree Industrial	2.03	2.45	Buy	DCF
11/18/25	DBS Vickers	Mapletree Logistics	1.29	1.55	Buy	DCF
11/18/25	Kim Eng	Marco Polo	0.109	0.13	Buy	PER14x FY26
11/18/25	DBS Vickers	Nam Cheong	0.79	1.25	Buy	PER8x FY26
11/18/25	DBS Vickers	SATS	3.48	4	Buy	PER19x & DCF
11/18/25	OCBC	UOL	8.65	10.06	Buy	RNAV
11/18/25	DBS Vickers	Yangzijiang Shipping	3.42	3.8	Buy	PB2.5x FY25, PER11x FY25

Singapore NODX surged by 22.2% in October 2025.

Year-on-year changes:

October 2025: 22.2%

September 2025: 6.9%

August 2025: -11.3%

July 2025: -4.6%

June 2025: 13%

May 2025: -3.5%

April 2025:12.4%

March 2025: 5.4%

February 2025: 7.6%

January 2025: -2.1%

December 2024: 9%

November 2024: 3.4%

October 2024: -4.6%

September 2024: 2.7%

August 2024: 10.7%

July 2024: 15.7%

June 2024: -8.7%

May 2024: -0.1%

April 2024: -9.6%

March 2024: -20.7%

February 2024: -0.1%

January 2024: +16.8%

December 2023: -1.5%

November 2023: 1%

October 2023: -3.4%

September 2023: -13.2%

August 2023: -20.1%

July 2023: -20.2%

June 2023: -15.5%

May 2023: -14.7%

April 2023: -9.8%

March 2023: -8.3%

February 2023: -15.6%

January 2023: -25%