Keppel DC Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/06/25	UOB Kay Hian	Keppel DC Reit	2.11	2.53	Buy	DDM
03/14/25	CIMB	Keppel DC Reit	2.21	2.48	Add
03/20/25	UOB Kay Hian	Keppel DC Reit	2.17	2.55	Buy	DDM
04/04/25	UOB Kay Hian	Keppel DC Reit	2.13	2.55	Buy	DDM
04/17/25	DBS Vickers	Keppel DC Reit	2.05	2.5	Buy
04/21/25	Phillip	Keppel DC Reit	2.03	2.25	Accumulate	DDM
05/21/25	UOB Kay Hian	Keppel DC Reit	2.14	2.55	Buy	DDM
06/27/25	UOB Kay Hian	Keppel DC Reit	2.3	2.87	Buy	DDM
07/09/25	UOB Kay Hian	Keppel DC Reit	2.22	2.69	Buy
07/16/25	CIMB	Keppel DC Reit	2.24	2.48	Add
07/18/25	Kim Eng	Keppel DC Reit	2.25	2.4	Buy	DDM
07/25/25	Lim & Tan	Keppel DC Reit	2.26	2.46	Accumulate on weakness
07/28/25	Phillip	Keppel DC Reit	2.32	2.33	Neutral	DDM
07/28/25	DBS Vickers	Keppel DC Reit	2.32	2.6	Buy
08/01/25	UOB Kay Hian	Keppel DC Reit	2.37	2.69	Buy	DDM
09/01/25	UOB Kay Hian	Keppel DC Reit	2.36	2.69	Buy	DDM
09/23/25	UOB Kay Hian	Keppel DC Reit	2.37	2.64	Buy	DDM
09/23/25	Lim & Tan	Keppel DC Reit	2.37	2.51	Accumulate
09/24/25	UOB Kay Hian	Keppel DC Reit	2.39	2.69	Buy	DDM
10/13/25	UOB Kay Hian	Keppel DC Reit	2.39	2.69	Buy	DDM
10/27/25	Phillip	Keppel DC Reit	2.4	2.4	Neutral	DDM
10/27/25	CIMB	Keppel DC Reit	2.4	2.59	Add	DDM
11/03/25	UOB Kay Hian	Keppel DC Reit	2.39	2.65	Buy	DDM
12/01/25	UOB Kay Hian	Keppel DC Reit	2.31	2.65	Buy	DDM
12/17/25	Lim & Tan	Keppel DC Reit	2.2	2.61	Accumulate on weakness
01/13/26	Kim Eng	Keppel DC Reit	2.24	2.6	Buy	DDM
02/02/26	UOB Kay Hian	Keppel DC Reit	2.28	2.82	Buy	DDM
02/02/26	Phillip	Keppel DC Reit	2.28	2.37	Accumulate	DDM
02/02/26	DBS Vickers	Keppel DC Reit	2.28	2.6	Buy
02/02/26	Lim & Tan	Keppel DC Reit	2.28	2.63	Accumulate on weakness
04/01/26	UOB Kay Hian	Keppel DC Reit	2.18	2.82	Buy	DDM
04/16/26	DBS Vickers	Keppel DC Reit	2.33	2.6	Buy
04/16/26	JPM	Keppel DC Reit	2.33	2.55	Buy
04/17/26	UOB Kay Hian	Keppel DC Reit	2.36	2.9	Buy	DDM
04/17/26	Phillip	Keppel DC Reit	2.36	2.37	Accumulate	DDM

Keppel Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/10/25	DBS Vickers	Keppel Corp	5.66	9	Buy
04/24/25	Lim & Tan	Keppel Corp	6.4	8.22	Buy
04/25/25	UOB Kay Hian	Keppel Corp	6.59	9.25	Buy	Sum of parts
04/25/25	Phillip	Keppel Corp	6.59	8	Buy	Sum of parts
04/28/25	MorningStar	Keppel Corp	6.64	8.6	4-Star
04/28/25	CIMB	Keppel Corp	6.64	9.28	Add
06/06/25	DBS Vickers	Keppel Corp	6.97	9	Buy
06/26/25	Lim & Tan	Keppel Corp	7.4	0	Accumulate
07/17/25	CIMB	Keppel Corp	8.01	9.28	Add
08/01/25	UOB Kay Hian	Keppel Corp	8.47	9.51	Buy	Sum of parts
08/01/25	CIMB	Keppel Corp	8.47	10.23	Add	Sum of parts
08/01/25	Lim & Tan	Keppel Corp	8.47	8.89	Accumulate
08/04/25	Phillip	Keppel Corp	8.31	10.5	Buy	Sum of parts
08/06/25	Lim & Tan	Keppel Corp	8.42	9.37	Accumulate
08/12/25	UOB Kay Hian	Keppel Corp	8.58	10.46	Buy	Sum of parts
08/12/25	Phillip	Keppel Corp	8.58	10.7	Buy	Sum of parts
08/12/25	Lim & Tan	Keppel Corp	8.58	9.7	Accumulate
09/04/25	Lim & Tan	Keppel Corp	8.64	9.76	Accumulate
09/24/25	Lim & Tan	Keppel Corp	8.91	10	Accumulate
09/26/25	Lim & Tan	Keppel Corp	8.87	9.94	Accumulate
10/03/25	CIMB	Keppel Corp	9.14	10.23	Add	Sum of parts
10/10/25	JPM	Keppel Corp	9.17	12.5	Overweight
10/15/25	UOB Kay Hian	Keppel Corp	9.01	10.85	Buy	Sum of parts
10/30/25	Lim & Tan	Keppel Corp	9.89	10.14	Accumulate on weakness
10/31/25	UOB Kay Hian	Keppel Corp	10.05	11.7	Buy	PER16.8x FY26
10/31/25	CIMB	Keppel Corp	10.05	12.71	Add	PER
10/31/25	Lim & Tan	Keppel Corp	10.05	10.35	Accumulate on weakness
11/03/25	Phillip	Keppel Corp	10.19	12.2	Buy	Sum of parts
01/02/26	Lim & Tan	Keppel Corp	10.35	11.4	Accumulate
01/02/26	JPM	Keppel Corp	10.35	13.1	Overweight
01/05/26	UOB Kay Hian	Keppel Corp	10.37	11.7	Buy	PER16.8x FY26
02/05/26	Lim & Tan	Keppel Corp	10.95	11.97	Accumulate
02/06/26	UOB Kay Hian	Keppel Corp	11.62	13.23	Buy	PER18x
02/09/26	Phillip	Keppel Corp	11.64	13.8	Buy	Sum of parts
02/09/26	Lim & Tan	Keppel Corp	11.64	12.3	Accumulate
03/10/26	UOB Kay Hian	Keppel Corp	11.82	13.23	Buy	PER18x
03/26/26	Lim & Tan	Keppel Corp	12.45	14	Accumulate
03/27/26	CIMB	Keppel Corp	12.27	13.52	Add	Sum of parts
03/27/26	JPM	Keppel Corp	12.27	12	Neutral
04/21/26	Lim & Tan	Keppel Corp	11.86	13.38	Accumulate
04/24/26	UOB Kay Hian	Keppel Corp	11.62	13.23	Buy	PER18x
04/24/26	CIMB	Keppel Corp	11.62	13.52	Add	Sum of parts
04/27/26	Phillip	Keppel Corp	11.55	13.8	Buy	Sum of parts
04/27/26	JPM	Keppel Corp	11.55	12	Neutral
05/04/26	UOB Kay Hian	Keppel Corp	10.87	13.23	Buy	PER18x
05/05/26	Lim & Tan	Keppel Corp	10.87	12.94	Accumulate

Jumbo - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/19/25	uSMART	Jumbo	0.28	0.34	Buy
01/12/26	Lim & Tan	Jumbo	0.29	0.35	Accumulate on weakness

Stock calls for 13 May 2026

Date	Analyst	Company	Last	Target	Call	Valuation
05/13/26	UOB Kay Hian	BRC Asia	4.49	5.3	Buy	PER14x FY26
05/13/26	CIMB	BRC Asia	4.49	5.5	Add	EV/Ebitda
05/13/26	UOB Kay Hian	Bumitama	1.82	2.01	Buy	PER14x FY26
05/13/26	DBS Vickers	Bumitama	1.82	2.3	Buy	PER20.4x FY26
05/13/26	OCBC	Bumitama	1.82	2.2	Buy	PER
05/13/26	Amfrasers	Fortress Minerals	0.26	0.26	Neutral	Sum of parts
05/13/26	UOB Kay Hian	Genting	0.69	0.75	Hold	EV/Ebitda7.7x FY26
05/13/26	DBS Vickers	Genting	0.69	0.67	Hold	EV/Ebitda7.3x FY26
05/13/26	CIMB	Genting	0.69	0.67	Hold	EV/Ebitda
05/13/26	DBS Vickers	NTT DC Reit	1.01	1.2	Buy	DCF
05/13/26	Lim & Tan	NTT DC Reit	1.01	1.27	Accumulate
05/13/26	UOB Kay Hian	Parkway Life	3.99	5.45	Buy	DDM
05/13/26	UOB Kay Hian	SIA Engineering	3.28	3.85	Buy	PER21.2x FY28
05/13/26	CIMB	SIA Engineering	3.28	3.8	Add
05/13/26	UOB Kay Hian	UMS	2.6	4.01	Buy	PER37.5x FY28
05/13/26	Lim & Tan	Valuetronics	1.18	1	Sell

US inflation has spiked beyond expectations!

US inflations: 3.8% (YOY) and 0.6% (MOM)

Core inflation: 2.8% (YOY) and 0.4% (MOM)

The US inflation will continue to remain high until next year and the US may not ease its rates this year because of the Iran war.  The longer the Iran war drags, the more the US and the world will suffer.

Jardine Matheson - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/24/25	Lim & Tan	Jardine Matheson	62.15	70.38	Accumulate on weakness

Jardine C&C - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/16/25	Lim & Tan	Jardine C&C	29.28	24.5	Hold
02/23/26	DBS Vickers	Jardine C&C	34.2	38.5	Buy	Sum of parts
03/02/26	DBS Vickers	Jardine C&C	35.36	38.5	Buy	Sum of parts
03/04/26	DBS Vickers	Jardine C&C	34.56	39	Buy	Sum of parts
03/31/26	UOB Kay Hian	Jardine C&C	35.34	37.1	Buy
05/04/26	DBS Vickers	Jardine C&C	32.58	38.5	Buy	Sum of parts (5% disc)
05/11/26	DBS Vickers	Jardine C&C	32.88	39	Buy	Sum of parts (5% disc)

IX Biopharm - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/10/26	Phillip	IX Biopharm	0.2	1	Buy	Sum of parts