Q&M - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/13/25	phillip	Q&M	0.29	0.4	Buy	PER18x FY25
03/28/25	Amfrasers	Q&M	0.29	0.35	outperform	DCF
04/02/25	CIMB	Q&M	0.3	0.43	Add
06/12/25	CIMB	Q&M	0.4	0.49	Add
08/18/25	CIMB	Q&M	0.43	0.49	Add	PER
08/18/25	Kim Eng	Q&M	0.43	0.31	Hold
08/20/25	phillip	Q&M	0.465	0.545	Buy	PER25x FY26
10/17/25	Lim & Tan	Q&M	0.47	0.49	Buy
03/13/26	CIMB	Q&M	0.555	0.68	Add	PER
03/20/26	Amfrasers	Q&M	0.56	0.65	outperform	DCF
03/25/26	phillip	Q&M	0.53	0.71	Buy	PER25x FY26
04/14/26	Kim Eng	Q&M	0.6	0.64	Hold	PER

Propnex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/04/25	UOB Kay Hian	Propnex	1.12	1.3	Buy	PER17.6x FY25
03/18/25	Lim & Tan	Propnex	1.12	1.25	Accumulate
03/26/25	DBS Vickers	Propnex	1.14	1.25	Buy
04/08/25	UOB Kay Hian	Propnex	1	1.3	Buy	PER17.6x FY25
05/27/25	UOB Kay Hian	Propnex	1.05	1.3	Buy	PER17.6x FY25
06/16/25	phillip	Propnex	1.07	1.33	Buy	DCF
07/14/25	UOB Kay Hian	Propnex	1.21	1.35	Buy	PER17.6x FY25/26
07/16/25	Lim & Tan	Propnex	1.23	1.375	Accumulate on weakness
08/13/25	phillip	Propnex	1.64	2.02	Buy	DCF
08/13/25	UOB Kay Hian	Propnex	1.64	2	Buy	PER19.5x FY25/26
08/13/25	CIMB	Propnex	1.64	1.77	Add	PER
08/18/25	DBS Vickers	Propnex	2.03	2.15	Buy	PER18x FY26/27
01/08/26	UOB Kay Hian	Propnex	1.96	2.52	Buy	PER22.9x FY26
02/02/26	UOB Kay Hian	Propnex	2.19	2.51	Buy	PER22.9x FY26
03/02/26	UOB Kay Hian	Propnex	2.04	2.55	Buy	PER23.8x FY26
03/02/26	DBS Vickers	Propnex	2.04	1.95	Hold	Sum of parts, PER18x
03/03/26	phillip	Propnex	1.94	2.08	Accumulate	DCF
03/17/26	Lim & Tan	Propnex	1.67	2.31	Accumulate

Prime US Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/15/25	phillip	Prime US Reit	0.144	0.2	Buy	DDM
05/15/25	DBS Vickers	Prime US Reit	0.144	0.19	Hold	PB0.3x
05/15/25	DMG & Partners	Prime US Reit	0.144	0.18	Buy	DDM
07/15/25	DMG & Partners	Prime US Reit	0.165	0.23	Buy	DDM
08/15/25	phillip	Prime US Reit	0.174	0.21	Buy	DDM
09/09/25	UOB Kay Hian	Prime US Reit	0.199	0.31	Buy	DDM
09/29/25	phillip	Prime US Reit	0.2	0.3	Buy	DDM
11/03/25	DBS Vickers	Prime US Reit	0.196	0.35	Buy	PB0.65x & DCF
11/13/25	phillip	Prime US Reit	0.2	0.3	Buy	DDM
01/26/26	phillip	Prime US Reit	0.205	0.3	Buy	DDM
02/12/26	DBS Vickers	Prime US Reit	0.23	0.35	Buy	PB0.65x & DCF
02/16/26	phillip	Prime US Reit	0.215	0.32	Buy	DDM
02/16/26	DBS Vickers	Prime US Reit	0.215	0.33	Buy	PB0.65x & DCF
03/23/26	UOB Kay Hian	Prime US Reit	0.168	0.21	Buy	DDM
03/23/26	phillip	Prime US Reit	0.168	0.32	Buy	DDM
04/07/26	DBS Vickers	Prime US Reit	0.173	0.33	Buy	PB0.65x & DCF
04/23/26	DMG & Partners	Prime US Reit	0.18	0.28	Buy	DDM
05/14/26	phillip	Prime US Reit	0.174	0.32	Buy	DDM
05/18/26	DBS Vickers	Prime US Reit	0.167	0.33	Buy	PB0.65x & DCF
05/25/26	phillip	Prime US Reit	0.161	0.32	Buy	DDM

Stock calls for 5 June 2026

Date	Analyst	Company	Last	Target	Call	Valuation
06/05/26	Lim & Tan	Grand Banks Yacht	0.72	1.49	Buy	PER14.8x
06/05/26	Lim & Tan	KSH	0.34	0.5	Accumulate	Sum of parts
06/05/26	CIMB	PanUnited	1.47	1.85	Add	EV/Ebitda
06/05/26	UBS	SATS	3.99	4.1	Buy

Red alert for bitcoin (BTC)! - Part 14

We've been warning about the BTC treasury's sellout and we've been proven right.

Furthermore, some BTC investors are cashing out at huge losses and some of these BTC investors won't jump back into BTC trading again.  Why?

The quantum financial system (QFS) will decimate the cryptocurrency industry because QFS is immutable and doesn't require every computing instance to be replicated across its quantum network. Thus, there is no profligacy of energy compared to the decentralized ledger system because there is no repetitive computing instance.

The current quantum key distribution (QKD) technology allows its key to be changed about 4500 times per second now and this is what makes the QFS immutable and secured.  Furthermore, any interference to a quantum secured network will be notified and blocked.   For example, China HSR is protected by this QKD technology.

Thus, QFS doesn't have to use a decentralized ledger system to record all transactions since the transfer of data between point A and point B is immutable.  Consequently, the QFS makes all transactions reversible via a centralized system compared to a decentralized ledger system and this reversibility makes this QFS very business friendly.

The Iran war situation report. - Part 68

Just as we've stated previously, the Iran-US peace deal is highly unlikely to be achieved unless the US  gives in to Iran's demands.  The current status is a stalemate for the peace deal.

Consequently, Trump is facing some resistance in his country now.  Trump will find it more difficult to continue the Iran war without the congress approval and this hardship will compel Trump to abandon Israel.  Just like what we've projected previously, the anglo-saxons will prevail against the Jews via this war.

Last but not least, Hezbollah has just rejected the truce.  Therefore, a peace deal is impossible now without Hezbollah.

Phillip Sing Income ETF - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/23/25	phillip	Phillip Sing Income ETF	1.422	1.59	Accumulate	Sum of parts

Phil AP Div Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/29/25	phillip	Phil AP Div Reit	1.1	1.095	Accumulate	Sum of parts
11/28/25	phillip	Phil AP Div Reit	1.191	1.29	Accumulate	Sum of parts
04/22/26	phillip	Phil AP Div Reit	0.878	1.14	Accumulate	Sum of parts

PC Partner - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/26	Amfrasers	PC Partner	1.02	1.73	outperform	DCF
02/09/26	Tickrs Financial	PC Partner	1.33	2.2	Buy	Sum of parts
03/18/26	Amfrasers	PC Partner	1.34	2.54	outperform	DCF

Stock calls for 4 June 2026

Date	Analyst	Company	Last	Target	Call	Valuation
06/04/26	DBS Vickers	A-Reit	2.5	3.2	Buy	DCF
06/04/26	Lim & Tan	A-Reit	2.5	3.12	Accumulate
06/04/26	CIMB	CSE Global	1.65	2	Add	PER
06/04/26	Lim & Tan	First Reit	0.235	0.245	Vote Yes
06/04/26	DBS Vickers	Food Empire	2.51	3.05	Buy	Sum of parts, Ex-bonus (1 for 5)
06/04/26	Amfrasers	OKP	0.8	1.31	outperform	DCF
06/04/26	DMG & Partners	Tai Sin Electric	0.54	0.75	Buy

Parkway Life - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/06/25	UOB Kay Hian	Parkway Life	3.85	4.85	Buy	DDM
04/01/25	UOB Kay Hian	Parkway Life	4.15	4.85	Buy	DDM
04/23/25	Kim Eng	Parkway Life	4.23	4.5	Buy	DDM
04/30/25	CIMB	Parkway Life	4.18	4.91	Add
04/30/25	OCBC	Parkway Life	4.18	4.65	Buy
05/21/25	UOB Kay Hian	Parkway Life	4.14	4.85	Buy	DDM
05/28/25	Kim Eng	Parkway Life	4.1	4.5	Buy	DDM
06/27/25	UOB Kay Hian	Parkway Life	4.1	5.33	Buy	DDM
08/01/25	UOB Kay Hian	Parkway Life	4.03	5.33	Buy	DDM
08/06/25	Lim & Tan	Parkway Life	4.06	4.85	Accumulate on weakness
08/07/25	Kim Eng	Parkway Life	4.11	4.5	Buy	DDM
08/07/25	CIMB	Parkway Life	4.11	4.93	Add	DDM
08/08/25	DBS Vickers	Parkway Life	4.1	4.75	Buy	DCF
08/18/25	UOB Kay Hian	Parkway Life	4.03	5.34	Buy	DDM
08/18/25	OCBC	Parkway Life	4.03	4.85	Buy
09/01/25	UOB Kay Hian	Parkway Life	4.22	5.34	Buy	DDM
11/06/25	CIMB	Parkway Life	4.05	4.97	Add	DDM
11/25/25	UOB Kay Hian	Parkway Life	4.02	5.42	Buy	DDM
02/03/26	DBS Vickers	Parkway Life	4.07	4.75	Buy	DCF
02/03/26	Lim & Tan	Parkway Life	4.07	4.8	Accumulate on weakness
02/04/26	UOB Kay Hian	Parkway Life	4.1	5.45	Buy	DDM
02/04/26	CIMB	Parkway Life	4.1	4.97	Add	DDM
04/01/26	UOB Kay Hian	Parkway Life	4	5.45	Buy	DDM
04/15/26	OCBC	Parkway Life	4	4.83	Buy
04/15/26	DBS Vickers	Parkway Life	4.02	4.75	Buy	DCF
05/04/26	DBS Vickers	Parkway Life	4.02	4.75	Buy	DCF
05/04/26	OCBC	Parkway Life	4.02	4.82	Buy
05/04/26	CIMB	Parkway Life	4.02	4.97	Add	DDM
05/04/26	Lim & Tan	Parkway Life	4.02	4.83	Accumulate on weakness
05/13/26	UOB Kay Hian	Parkway Life	3.99	5.45	Buy	DDM