Sabana - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/13/25	Lim & Tan	Sabana	0.365	0	Hold

Riverstone - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/08/25	DMG & Partners	Riverstone	0.935	1.08	Buy
05/09/25	UOB Kay Hian	Riverstone	0.855	0.82	Hold	PER18x FY25
05/13/25	DMG & Partners	Riverstone	0.765	0.95	Buy	DCF
06/19/25	UOB Kay Hian	Riverstone	0.675	0.71	Hold	PER16x FY25
07/01/25	DMG & Partners	Riverstone	0.67	0.95	Buy	DCF
10/08/25	UOB Kay Hian	Riverstone	0.755	0.98	Buy	PER20x FY26
10/14/25	CIMB	Riverstone	0.82	0.91	Add	PER
11/12/25	UOB Kay Hian	Riverstone	0.81	1.05	Buy	PER22x FY26
11/12/25	CIMB	Riverstone	0.81	0.91	Add	PER
01/16/26	UOB Kay Hian	Riverstone	0.9	1.05	Buy	PER22x FY26
03/03/26	CIMB	Riverstone	0.765	0.78	Add
03/03/26	UOB Kay Hian	Riverstone	0.765	0.77	Hold	PER20x FY26
04/23/26	DMG & Partners	Riverstone	0.765	0.87	Neutral
05/12/26	UOB Kay Hian	Riverstone	0.82	1.1	Buy	PER25x FY27
05/12/26	CIMB	Riverstone	0.82	1	Add	PER
06/03/26	UOB Kay Hian	Riverstone	0.88	1.1	Buy	PER25x FY27

RH Petrogas - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/05/25	UOB Kay Hian	RH Petrogas	0.156	0.254	Buy	Sum of parts
08/19/25	UOB Kay Hian	RH Petrogas	0.178	0.245	Buy	Sum of parts
03/13/26	UOB Kay Hian	RH Petrogas	0.245	0.263	Buy	Sum of parts

Stock calls for 9 June 2026

Date	Analyst	Company	Last	Target	Call	Valuation
06/09/26	UOB Kay Hian	Addvalue	0.169	0.36	Buy
06/09/26	UOB Kay Hian	CSE Global	1.33	1.79	Buy	PER29x FY27
06/09/26	Lim & Tan	Wee Hur	0.63	0.9	Accumulate on weakness

The Iran war situation report. - Part 70

Iran and Israel have started their fight again!

Conversely, the US and Israel have started to doubt each other.  The US has raised Israel spying level to critical and Israel has stopped consultting the US by atttacking Iran.

Iran has declared in public that the hormuz toll or transit fee will be implemented when the strait is open.

How much will be the transit fee (hormuz toll)?  The existing fee is $1.5-2m.  However, we are expecting that this fee will be much lower in the future and will be similar to other transit fees such as the suez canal or panama fee.

The other bad news is Houthis has just joined in the maritime blockage for Israel in the red sea and this will make life very difficult for Israel because Israel has to import many things.

Reclaims Global - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/28/25	SAC Capital	Reclaims Global	0.39	0.497	Buy
01/12/26	UOB Kay Hian	Reclaims Global	0.405	0.56	Buy	PER12x FY27
02/02/26	UOB Kay Hian	Reclaims Global	0.48	0.56	Buy	PER12x FY27
02/12/26	Lim & Tan	Reclaims Global	0.47	0.6	Buy	PER
03/11/26	Lim & Tan	Reclaims Global	0.47	0.6	Accumulate
04/01/26	Lim & Tan	Reclaims Global	0.215	0.29	Accumulate	Ex-bonus
04/20/26	UOB Kay Hian	Reclaims Global	0.22	0.27	Buy	PER12x FY27

Raffles Medical - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/08/25	UOB Kay Hian	Raffles Medical	0.92	1.06	Buy	PER28x FY25
04/08/25	DMG & Partners	Raffles Medical	0.92	1.08	Buy	Sum of parts
04/24/25	Kim Eng	Raffles Medical	1.01	1.13	Buy	DCF
06/11/25	Lim & Tan	Raffles Medical	0.975	1.11	Accumulate on weakness
06/23/25	DMG & Partners	Raffles Medical	0.955	1.08	Buy	Sum of parts
06/30/25	UOB Kay Hian	Raffles Medical	0.965	1.06	Buy	PER28x FY25
07/08/25	UOB Kay Hian	Raffles Medical	1	1.18	Buy	PER31x FY25
07/28/25	DBS Vickers	Raffles Medical	1.05	1.12	Buy	Sum of parts, PER25x
07/28/25	Lim & Tan	Raffles Medical	1.05	1.13	Hold
07/29/25	UOB Kay Hian	Raffles Medical	1.07	1.25	Buy	PER31x FY25
07/29/25	DBS Vickers	Raffles Medical	1.07	1.32	Buy	PER30x FY26
07/31/25	phillip	Raffles Medical	1.02	1.02	Neutral	DCF
08/06/25	DMG & Partners	Raffles Medical	1.01	1.1	Neutral	Sum of parts
10/01/25	DBS Vickers	Raffles Medical	0.98	1.32	Buy	PER30x FY26
11/26/25	DMG & Partners	Raffles Medical	0.975	1.15	Buy	Sum of parts
12/22/25	DMG & Partners	Raffles Medical	1.02	1.15	Buy	Sum of parts
01/06/26	CIMB	Raffles Medical	1.01	1.23	Add	Up from $1.20
01/23/26	DMG & Partners	Raffles Medical	1.01	1.15	Buy	Sum of parts
02/13/26	DMG & Partners	Raffles Medical	1.02	1.15	Buy	Sum of parts
02/23/26	DBS Vickers	Raffles Medical	1.02	1.32	Buy	PER30x FY26
02/23/26	Lim & Tan	Raffles Medical	1.02	1.2	Accumulate on weakness
02/24/26	UOB Kay Hian	Raffles Medical	1.07	1.25	Buy	PER29.8x FY27
02/24/26	DBS Vickers	Raffles Medical	1.07	1.25	Buy	PER30x FY26
02/25/26	phillip	Raffles Medical	1.07	1.02	Neutral	DCF
04/23/26	DMG & Partners	Raffles Medical	1.02	1.3	Buy

Raffles Education - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/15/25	Amfrasers	Raffles Education	0.107	0.34	outperform	DCF
05/19/26	Amfrasers	Raffles Education	0.13	0.32	outperform	DCF

Stock calls for 8 June 2026

Date	Analyst	Company	Last	Target	Call	Valuation
06/08/26	DMG & Partners	APAC Realty	0.55	0.7	Buy
06/08/26	Lim & Tan	Civmec	1.56	1.61	Accumulate on weakness
06/08/26	phillip	DBS	61.74	67.5	Accumulate
06/08/26	UOB Kay Hian	Delfi	0.94	1.68	Buy	PER25.5x FY27
06/08/26	Kim Eng	Elite ComReit	0.34	0.41	Buy
06/08/26	Lim & Tan	Lum Chang Creations	0.84	1	Accumulate on weakness
06/08/26	phillip	OCBC	23.94	24	Neutral
06/08/26	CIMB	Sanli Env	0.176	0.22	Add	PER
06/08/26	Kim Eng	Sanli Env	0.176	0.26	Buy
06/08/26	Kim Eng	Sembcorp Industries	6.13	6	Hold
06/08/26	Phillip	Thakral	1.88	2.56	Buy	Sum of parts (50% disc)
06/08/26	DBS Vickers	UMS	2.53	3.17	Buy	PER38x FY27
06/08/26	phillip	UOB	38.55	39	Neutral

Red alert for bitcoin (BTC)! - Part 15

After introducing QFS to our viewers in Part 14, we'll be introducing the concept of Quantum Currency  (Qucurrency) today.

What's the advantages of Qucurrency over Cryptocurrency?

1. Qucurrency will eradicate the double spending problem in Cryptocurrency.

2. Qucurrency is faster and energy friendlier than Cryptocurrency.

3. Qucurrency can do offline transaction but Cryptocurrency can't because Cryptocurrency is internet network dependent.

4. Qucurrency is business friendly because Qu-transactions are reversible.

The other financial technology that shares the same Qucurrency advantages is China CBDC (E-CNY).

What's going to happen in the future?

The future technological trend is to move towards a quantum technological infrastructure.  Thus, countries that are quantum-ready in the future will use Qucurrency and countries that are non-quantum-ready will adopt CBDC.

In conclusion, we do not see cryptocurrency playing any role in the mainstream financial system in the future.

The Iran war situation report. - Part 69

The US has been conducting its misinformation campaign since the inception of the illegal Iran war till now.

Let's set the records straight now.

There is no uranium transfer to China or Russia by Iran to secure a peace deal with the US.

The ceasefire has broken down already but both parties refuse to acknowledge it.

The US and Iran are still fighting with each other and Israel is still attacking Lebanon.

Last but not least, the anglo-saxons in the US are trying to destroy Israel (Jews) so that they can take control of the US by forcing Trump to abandon Israel.

Baltic dry index - 2981

Related stock: Seatrium, Cosco & Pan Ocean

US rig count (weekly) - 563

Related stock: Seatrium & Cosco

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