Mapletree Industrial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/14/24	UOB Kay Hian	Mapletree Industrial	2.18	2.93	Buy	DDM
07/02/24	UOB Kay Hian	Mapletree Industrial	2.11	2.78	Buy	DDM
07/15/24	DBS Vickers	Mapletree Industrial	2.25	2.6	Buy
07/29/24	Kim Eng	Mapletree Industrial	2.27	2.15	Hold
07/29/24	OCBC	Mapletree Industrial	2.27	2.71	Buy
07/29/24	DBS Vickers	Mapletree Industrial	2.27	2.6	Buy
09/26/24	UOB Kay Hian	Mapletree Industrial	2.44	3.03	Buy	DDM
10/01/24	DBS Vickers	Mapletree Industrial	2.43	2.6	Buy	DCF
10/03/24	UOB Kay Hian	Mapletree Industrial	2.5	3.05	Buy	DDM
10/04/24	Kim Eng	Mapletree Industrial	2.53	2.6	Buy
10/30/24	DBS Vickers	Mapletree Industrial	2.39	2.75	Buy	DCF
11/01/24	UOB Kay Hian	Mapletree Industrial	2.4	3.05	Buy	DDM
11/04/24	CIMB	Mapletree Industrial	2.4	2.82	Add	DDM
11/04/24	MorningStar	Mapletree Industrial	2.4	2.3	Hold
11/11/24	DBS Vickers	Mapletree Industrial	2.27	2.75	Buy	DCF
01/02/25	UOB Kay Hian	Mapletree Industrial	2.21	3.05	Buy	DDM
01/23/25	Lim & Tan	Mapletree Industrial	2.21	2.62	Accumulate
01/24/25	CIMB	Mapletree Industrial	2.21	2.82	Add	DDM
01/27/25	UOB Kay Hian	Mapletree Industrial	2.21	2.89	Buy	DDM
02/12/25	UOB Kay Hian	Mapletree Industrial	2.06	2.7	Buy	DDM
02/12/25	Kim Eng	Mapletree Industrial	2.06	2.3	Buy
03/06/25	UOB Kay Hian	Mapletree Industrial	2.01	2.7	Buy	DDM
03/17/25	DBS Vickers	Mapletree Industrial	2.08	2.6	Buy	DCF
04/01/25	UOB Kay Hian	Mapletree Industrial	2.1	2.7	Buy	DDM
04/24/25	Lim & Tan	Mapletree Industrial	2.05	2.45	Buy
05/02/25	DBS Vickers	Mapletree Industrial	2.02	2.6	Buy	DCF
05/02/25	Lim & Tan	Mapletree Industrial	2.02	2.42	Buy
05/05/25	UOB Kay Hian	Mapletree Industrial	2.02	2.73	Buy	DDM
05/05/25	CIMB	Mapletree Industrial	2.02	2.56	Add	DDM
05/07/25	Kim Eng	Mapletree Industrial	2.02	2.2	Buy
05/07/25	OCBC	Mapletree Industrial	2.02	2.46	Buy
06/13/25	DBS Vickers	Mapletree Industrial	1.95	2.6	Buy	DCF
06/20/25	UOB Kay Hian	Mapletree Industrial	1.97	2.73	Buy	DDM
06/25/25	Lim & Tan	Mapletree Industrial	1.97	2.28	Buy
06/27/25	UOB Kay Hian	Mapletree Industrial	2	3.04	Buy	DDM
07/29/25	DBS Vickers	Mapletree Industrial	2.07	2.6	Buy	DCF
08/01/25	UOB Kay Hian	Mapletree Industrial	2.03	3.04	Buy	DDM
08/11/25	DBS Vickers	Mapletree Industrial	1.99	2.6	Buy	DCF
08/29/25	UOB Kay Hian	Mapletree Industrial	2.05	2.3	Hold	DDM
10/30/25	DBS Vickers	Mapletree Industrial	2.22	2.6	Buy	DCF
10/31/25	DBS Vickers	Mapletree Industrial	2.16	2.45	Buy	DCF
10/31/25	Lim & Tan	Mapletree Industrial	2.16	2.29	Accumulate
11/03/25	UOB Kay Hian	Mapletree Industrial	2.13	2.22	Hold	DDM
11/18/25	DBS Vickers	Mapletree Industrial	2.03	2.45	Buy	DCF

Stock calls for 21 November 2025

Date	Analyst	Company	Last	Target	Call	Valuation
11/21/25	UOB Kay Hian	China Sunsine	0.795	0.95	Buy
11/21/25	phillip	CSOP iEdge SREIT ETF	0.785	0.815	Accumulate
11/21/25	Lim & Tan	Grand Banks Yacht	0.785	0	Buy
11/21/25	Lim & Tan	Hongkong Land	6.3	7.5	Accumulate
11/21/25	DBS Vickers	Hongkong Land	6.3	7.7	Buy	RNAV (31% disc)
11/21/25	DBS Vickers	Yangzijiang Financial	0.5	0.48	Hold	PB0.9x (ex-maritime)
11/21/25	DBS Vickers	Yangzijiang Maritime	0.695	0.85	Buy	PB1.4x

Mapletree Commercial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/03/24	UOB Kay Hian	Mapletree Commercial	1.22	1.9	Buy	PB
06/04/24	CIMB	Mapletree Commercial	1.25	1.59	Add	DDM
06/28/24	Lim & Tan	Mapletree Commercial	1.22	1.55	Accumulate
06/28/24	Citi Research	Mapletree Commercial	1.22	1.47	Buy
07/01/24	DBS Vickers	Mapletree Commercial	1.22	1.75	Buy	DCF
07/02/24	UOB Kay Hian	Mapletree Commercial	1.24	1.73	Buy
07/08/24	CIMB	Mapletree Commercial	1.23	1.58	Add	DDM
07/09/24	UOB Kay Hian	Mapletree Commercial	1.23	1.68	Buy	DDM
07/29/24	Kim Eng	Mapletree Commercial	1.28	1.3	Hold
09/10/24	DBS Vickers	Mapletree Commercial	1.41	1.75	Buy	DCF
10/07/24	DBS Vickers	Mapletree Commercial	1.51	1.75	Buy	DCF
10/25/24	DBS Vickers	Mapletree Commercial	1.41	1.8	Buy	DCF
10/25/24	Lim & Tan	Mapletree Commercial	1.41	1.52	Accumulate
10/25/24	Citi Research	Mapletree Commercial	1.41	1.47	Buy	DDM & RNAV
10/29/24	UOB Kay Hian	Mapletree Commercial	1.33	1.71	Buy	DDM
11/26/24	Macquarie	Mapletree Commercial	1.23	1.6	Buy
11/26/24	OCBC	Mapletree Commercial	1.23	1.54	Buy
01/02/25	UOB Kay Hian	Mapletree Commercial	1.21	1.71	Buy	DDM
01/24/25	DBS Vickers	Mapletree Commercial	1.19	1.8	Buy	DCF
01/27/25	UOB Kay Hian	Mapletree Commercial	1.2	1.6	Buy	DDM
01/27/25	OCBC	Mapletree Commercial	1.2	1.48	Buy
01/27/25	Citi Research	Mapletree Commercial	1.2	1.47	Buy
03/06/25	UOB Kay Hian	Mapletree Commercial	1.19	1.6	Buy	DDM
04/01/25	UOB Kay Hian	Mapletree Commercial	1.25	1.6	Buy	DDM
04/25/25	DBS Vickers	Mapletree Commercial	1.22	1.8	Buy	DCF
04/28/25	UOB Kay Hian	Mapletree Commercial	1.22	1.62	Buy	DDM
04/28/25	CIMB	Mapletree Commercial	1.22	1.48	Add	DDM
04/29/25	DBS Vickers	Mapletree Commercial	1.21	1.5	Buy	DCF
04/30/25	Kim Eng	Mapletree Commercial	1.22	1.3	Buy
04/30/25	OCBC	Mapletree Commercial	1.22	1.45	Buy
04/30/25	JPM	Mapletree Commercial	1.22	1.2	Neutral
05/21/25	UOB Kay Hian	Mapletree Commercial	1.18	1.62	Buy	DDM
06/27/25	UOB Kay Hian	Mapletree Commercial	1.25	1.8	Buy	DDM
07/31/25	DBS Vickers	Mapletree Commercial	1.31	1.5	Buy	DCF
07/31/25	Kim Eng	Mapletree Commercial	1.31	1.35	Buy	DDM
08/01/25	UOB Kay Hian	Mapletree Commercial	1.29	1.8	Buy	DDM
08/04/25	UOB Kay Hian	Mapletree Commercial	1.28	1.86	Buy	DDM
08/05/25	JPM	Mapletree Commercial	1.32	1.5	Overweight
09/01/25	UOB Kay Hian	Mapletree Commercial	1.38	1.86	Buy	DDM
09/25/25	DBS Vickers	Mapletree Commercial	1.42	1.6	Buy	Sum of parts
10/01/25	CIMB	Mapletree Commercial	1.43	1.51	Add	DDM
10/23/25	UOB Kay Hian	Mapletree Commercial	1.46	1.84	Buy	DDM
10/23/25	DBS Vickers	Mapletree Commercial	1.46	1.65	Buy	Sum of parts
10/23/25	CIMB	Mapletree Commercial	1.46	1.52	Add	DDM
10/23/25	Lim & Tan	Mapletree Commercial	1.46	1.52	Hold
10/27/25	MorningStar	Mapletree Commercial	1.47	1.52	Hold
10/27/25	OCBC	Mapletree Commercial	1.47	1.45	Hold
11/04/25	DBS Vickers	Mapletree Commercial	1.48	1.65	Buy	Sum of parts

Manulife US Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/26/24	DMG & Partners	Manulife US Reit	0.066	0.12	Trading Buy
08/06/24	DMG & Partners	Manulife US Reit	0.07	0.12	Trading Buy	DDM
08/07/24	CIMB	Manulife US Reit	0.073	0.22	Add	DDM
09/30/24	DBS Vickers	Manulife US Reit	0.124	0.1	Hold
09/30/24	Lim & Tan	Manulife US Reit	0.124	0.15	No Rating
10/01/24	DMG & Partners	Manulife US Reit	0.124	0.12	Neutral	DDM
01/10/25	DMG & Partners	Manulife US Reit	0.093	0.12	Neutral	DDM
05/13/25	DBS Vickers	Manulife US Reit	0.063	0.1	Hold
05/28/25	DMG & Partners	Manulife US Reit	0.062	0.7	Neutral	DDM

Lum Chang Creations - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/11/25	Lim & Tan	Lum Chang Creations	0.25	0.38	Subscribe	IPO $0.25
07/18/25	UOB Kay Hian	Lum Chang Creations	0.25	0.39	Buy	PER9.5x FY26
08/20/25	Lim & Tan	Lum Chang Creations	0.445	0.49	Accumulate	PER9.6x FY26
08/27/25	CIMB	Lum Chang Creations	0.55	0.81	Add	PER

Stock calls for 20 November 2025

Date	Analyst	Company	Last	Target	Call	Valuation
11/20/25	UOB Kay Hian	Centurion	1.36	1.9	Buy	PER
11/20/25	phillip	City Developments	7.22	8.34	Buy	RNAV (35% disc)
11/20/25	HSBC	City Developments	7.22	11	Overweight
11/20/25	Citi Research	City Developments	7.22	9.01	Buy	RNAV (40% disc)
11/20/25	Lim & Tan	CSE Global	0.97	1.2	Accumulate
11/20/25	CIMB	Ever Gloy Uinited Holdings	0.7	0.87	Add
11/20/25	Lim & Tan	Innotek	0.72	0	Accumulate
11/20/25	Phillip	Telechoice	0.18	0.215	Buy	PER15x FY25
11/20/25	CIMB	Yangzijiang Shipping	3.35	4.51	Add	PER

The latest BOA FMS survey shows that investors are worried about market overvaluation, overinvestment and AI bubble.

The low cash level (below 4%) usually denotes impending market selloff.

The FMS survey shows that there's overinvestments caused by the AI hype.

The fund managers are worried about the AI bubble now.

Lion-Phillip - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/18/24	Phillip	Lion-Phillip	0.882	0.91	Accumulate
02/05/25	Phillip	Lion-Phillip	0.775	0.86	Accumulate
10/31/25	Phillip	Lion-Phillip	0.88	0.965	Accumulate