Monday, April 20, 2026
The Iran war situation report. - Part 52
Iran has rejected US request for a 2nd peace talk in Pakistan.
Conversely, Iran has started to retaliate against the US and Israel. In short, the Iran war has resumed and the detente has broken.
Digicore Reit - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
03/06/25 | UOB Kay Hian | Digicore Reit | 0.55 | 0.88 | Buy | DDM |
04/01/25 | UOB Kay Hian | Digicore Reit | 0.53 | 0.88 | Buy | DDM |
04/24/25 | DBS Vickers | Digicore Reit | 0.475 | 0.7 | Buy | DCF |
05/02/25 | phillip | Digicore Reit | 0.5 | 0.9 | Buy | DDM |
05/21/25 | UOB Kay Hian | Digicore Reit | 0.515 | 0.88 | Buy | DDM |
06/27/25 | UOB Kay Hian | Digicore Reit | 0.515 | 0.88 | Buy | DDM |
07/24/25 | UOB Kay Hian | Digicore Reit | 0.555 | 0.88 | Buy | DDM |
07/24/25 | DBS Vickers | Digicore Reit | 0.555 | 0.68 | Buy | DCF |
08/29/25 | UOB Kay Hian | Digicore Reit | 0.515 | 0.88 | Buy | DDM |
10/23/25 | DBS Vickers | Digicore Reit | 0.485 | 0.68 | Buy | DCF |
11/18/25 | DBS Vickers | Digicore Reit | 0.5 | 0.68 | Buy | DCF |
01/05/26 | DBS Vickers | Digicore Reit | 0.51 | 0.68 | Buy | DCF |
01/06/26 | UOB Kay Hian | Digicore Reit | 0.545 | 0.92 | Buy | DDM |
02/05/26 | DBS Vickers | Digicore Reit | 0.53 | 0.7 | Buy | DCF |
03/16/26 | UOB Kay Hian | Digicore Reit | 0.485 | 0.93 | Buy | DDM |
Dezign Format - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
08/20/25 | UOB Kay Hian | Dezign Format | 0.305 | 0.37 | Buy | PER10.5x FY26 |
09/30/25 | Lim & Tan | Dezign Format | 0.285 | 0.37 | Buy |
Delfi - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
03/11/25 | UOB Kay Hian | Delfi | 0.755 | 0.82 | Hold | PER12x FY25 |
04/14/25 | Lim & Tan | Delfi | 0.69 | 0.83 | Accumulate on weakness | |
05/21/25 | DBS Vickers | Delfi | 0.71 | 0.8 | Hold | |
05/21/25 | Lim & Tan | Delfi | 0.71 | 0.83 | Accumulate on weakness | |
05/22/25 | Lim & Tan | Delfi | 0.715 | 0.82 | Hold | PER12x FY25 |
05/22/25 | CIMB | Delfi | 0.715 | 0.71 | Hold | PER |
08/13/25 | Lim & Tan | Delfi | 0.85 | 0.78 | Hold | |
08/13/25 | DBS Vickers | Delfi | 0.85 | 0.7 | Fully Valued | |
08/19/25 | UOB Kay Hian | Delfi | 1.29 | 1.71 | Buy | |
08/19/25 | DMG & Partners | Delfi | 1.29 | 1.33 | Buy | |
11/14/25 | DBS Vickers | Delfi | 0.835 | 0.7 | Fully Valued | PER12.4x FY26 |
11/14/25 | CIMB | Delfi | 0.835 | 0.81 | Hold | PER |
11/17/25 | DBS Vickers | Delfi | 0.82 | 0.8 | Hold | PER12x FY26 |
12/11/25 | DMG & Partners | Delfi | 0.82 | 0.94 | Buy | PER13x FY26 |
01/22/26 | UOB Kay Hian | Delfi | 0.845 | 0.82 | Hold | |
02/25/26 | DBS Vickers | Delfi | 0.99 | 0.8 | Hold | PER12x FY26 |
02/25/26 | Lim & Tan | Delfi | 0.99 | 0.85 | Accumulate on weakness | |
02/26/26 | UOB Kay Hian | Delfi | 0.945 | 1.12 | Buy | PER14x FY26 |
02/26/26 | DBS Vickers | Delfi | 0.945 | 1 | Hold | PER14x FY26 |
03/06/26 | DMG & Partners | Delfi | 0.995 | 1.2 | Buy | |
03/10/26 | UOB Kay Hian | Delfi | 0.935 | 1.12 | Buy | PER14x FY26 |
03/20/26 | CIMB | Delfi | 0.93 | 0.91 | Hold | PER |
04/13/26 | Lim & Tan | Delfi | 1.14 | 1.02 | Accumulate on weakness | |
04/14/26 | UOB Kay Hian | Delfi | 1.19 | 1.68 | Buy | PER |
Stock calls for 20 April 2026
Date | Analyst | Company | Last | Target | Call | Valuation |
04/20/26 | UOB Kay Hian | Beng Kuang Marine | 0.48 | 0.64 | Buy | PER |
04/20/26 | Lim & Tan | Capitaland Investment | 2.85 | 3.5 | Accumulate | |
04/20/26 | Lim & Tan | Centurion | 1.68 | 1.83 | Accumulate | |
04/20/26 | DBS Vickers | Dairy Farm | 4.07 | 5 | Buy | PER23x FY26 |
04/20/26 | Kim Eng | HRnetGroup | 0.76 | 0.87 | Buy | |
04/20/26 | UOB Kay Hian | Keppel Pacific | 0.189 | 0.25 | Buy | DDM |
04/20/26 | UOB Kay Hian | Reclaims Global | 0.22 | 0.27 | Buy | PER12x FY27 |
04/20/26 | JPM | UOL | 10.16 | 12 | Overweight |
Sunday, April 19, 2026
Singapore NODX increased by 15.3% In March 2026 despite of the Iran war.
https://tradingeconomics.com/singapore/domestic-exports-of-non-oil-nodx-pctyoy/news/542642
Year-on-year changes:
March 2026: 15.3%
February 2026: 4%
January 2026: 9.3%
December 2025: 6.1%
November 2025: 11.5%
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%
The Iran war situation report. - Part 51
Tensions are rising in the strait of hormuz between the US and China.
Moreover, China has beefed up its military strength by sending type 052DL to the strait of hormuz. China still has its most powerful destroyer type 055 nearby awaiting for any frontline operation.
The US tried to intercept china oil tankers but failed in its operation because china sent its type 054A to escort 4 China oil tankers out of hormuz. It was reported that there was some minor skirmish between the US and China frigates.
This incident has proven that the US is incapable to block the strait of hormuz when china is around. Well done, China!
The Iran war situation report. - Part 50
Iran has announced that the strait of hormuz is closed officially.
There's another bad news for the US aircraft carrier operating in the Middle East. The US aircraft carrier is running out of food supplies and it is on a food ration exercise now.
Let's take a look at the food quantity from the US ship. Do you think the one person portion is enough for a normal size American soldier?
The US can't last long with the food ration exercise. What's gonna happen next then?
The US only has 2 options: Either attack Iran soon or retreat to the US to end this war soon. However, retreating doesn't seem to be a good idea for the US. Therefore, the US has to attack Iran soon before the US runs out of its food supplies.
No matter what, the US is facing a dire strait now.
Saturday, April 18, 2026
The Iran war situation report. - Part 49
Trump had successfully talked up the financial markets and trapped many investors that bought into his false claims.
Iran had rejected Trump's claims on the handover of its nuclear material and the complete opening of the strait of hormuz.
What's Trump's true intentions?
1. Talk up the financial markets so that he and his cronies can execute their "pump and dump" scheme.
2. Make Iran let down its guard and get more time to regroup and re-strategize for the next US military action.
Friday, April 17, 2026
DBS Bank - Stock calls
Date | Analyst | Company | Last | Target | Call | Valuation |
03/07/25 | Lim & Tan | DBS | 45.96 | 49 | Accumulate | |
03/07/25 | Jefferies | DBS | 45.96 | 52 | Buy | |
03/07/25 | Jefferies | DBS | 45.96 | 52 | Buy | |
03/12/25 | Citi Research | DBS | 44.23 | 49.3 | Buy | GGM, PB2x FY25 |
03/21/25 | phillip | DBS | 45.4 | 46.9 | Accumulate | GGM, PB1.88x FY25 |
03/25/25 | Lim & Tan | DBS | 45.49 | 48.63 | Accumulate | |
04/01/25 | Jefferies | DBS | 46.47 | 52 | Buy | |
04/07/25 | UOB Kay Hian | DBS | 43.3 | 40 | Sell | GGM, PB1.68x FY25 |
04/07/25 | Lim & Tan | DBS | 43.3 | 0 | Hold | |
04/07/25 | Citi Research | DBS | 43.3 | 47 | Buy | |
04/10/25 | Kim Eng | DBS | 37.16 | 38.48 | Hold | |
04/14/25 | UOB Kay Hian | DBS | 38.13 | 40 | Hold | GGM, PB1.68x FY25 |
04/22/25 | DMG & Partners | DBS | 41.42 | 47 | Buy | |
04/28/25 | Lim & Tan | DBS | 42.35 | 45.3 | Accumulate | |
05/08/25 | Lim & Tan | DBS | 42.76 | 45 | Accumulate | |
05/08/25 | MorningStar | DBS | 42.76 | 48 | Buy | GGM, PB1.9x FY25 |
05/09/25 | UOB Kay Hian | DBS | 43.09 | 40.9 | Hold | GGM, PB1.78x FY25 |
05/09/25 | phillip | DBS | 43.09 | 44.5 | Accumulate | GGM, PB1.79x FY25 |
05/09/25 | Citi Research | DBS | 43.09 | 48.1 | Buy | |
05/13/25 | UOB Kay Hian | DBS | 43.71 | 45.45 | Hold | GGM, PB1.92x FY26 |
05/19/25 | Jefferies | DBS | 44.6 | 50 | Buy | |
06/06/25 | Citi Research | DBS | 45.02 | 48.1 | Buy | GGM, PB2x |
06/10/25 | CIMB | DBS | 45.49 | 47.9 | Add | |
06/12/25 | phillip | DBS | 44.87 | 46.9 | Accumulate | |
06/19/25 | Lim & Tan | DBS | 44.23 | 46.77 | Accumulate | |
07/07/25 | phillip | DBS | 45.21 | 46.9 | Accumulate | |
07/15/25 | CIMB | DBS | 46.29 | 47.9 | Add | |
07/18/25 | UOB Kay Hian | DBS | 46.68 | 47 | Hold | GGM, PB1.96x FY26 |
08/05/25 | MorningStar | DBS | 47.89 | 48 | Neutral | |
08/06/25 | DMG & Partners | DBS | 48.24 | 47 | Buy | |
08/07/25 | Lim & Tan | DBS | 48.85 | 50 | Accumulate | |
08/07/25 | Citi Research | DBS | 48.85 | 56.5 | Buy | |
08/08/25 | UOB Kay Hian | DBS | 49.75 | 52.8 | Hold | GGM, PB2.14x FY26 |
08/08/25 | CIMB | DBS | 49.75 | 54.9 | Add | GGM |
08/11/25 | phillip | DBS | 50.75 | 52 | Accumulate | GGM, PB2.09x FY25 |
08/11/25 | Lim & Tan | DBS | 50.75 | 55 | Accumulate | |
08/19/25 | DMG & Partners | DBS | 49.6 | 52.8 | Buy | GGM, PB2x FY25 |
09/10/25 | UOB Kay Hian | DBS | 50.88 | 54.4 | Hold | GGM, PB2.21x FY26 |
10/10/25 | DMG & Partners | DBS | 53.91 | 57.1 | Buy | GGM, PB2.2x FY26 |
10/13/25 | OCBC | DBS | 53.85 | 54 | Hold | |
10/17/25 | CIMB | DBS | 52.51 | 54.9 | Add | GGM |
10/21/25 | UOB Kay Hian | DBS | 52 | 55.25 | Hold | GGM, PB2.25x FY26 |
10/21/25 | Citi Research | DBS | 52 | 57.1 | Buy | |
11/06/25 | Lim & Tan | DBS | 53.5 | 57 | Accumulate | |
11/07/25 | phillip | DBS | 55.54 | 58 | Accumulate | GGM, PB2.34x FY25 |
11/07/25 | UOB Kay Hian | DBS | 55.54 | 55.5 | Hold | GGM, PB2.26x FY26 |
11/07/25 | CIMB | DBS | 55.54 | 60.5 | Add | GGM |
11/10/25 | Kim Eng | DBS | 54.98 | 62.79 | Buy | Up from $56.15 |
11/10/25 | Citi Research | DBS | 54.98 | 61.1 | Buy | GGM, PB2.5x |
11/10/25 | DMG & Partners | DBS | 54.98 | 59 | Buy | |
11/28/25 | JPM | DBS | 54 | 70 | Overweight | |
01/06/26 | Macquarie | DBS | 56.65 | 46 | Underperform | |
01/06/26 | JPM | DBS | 56.65 | 70 | Overweight | |
01/07/26 | UOB Kay Hian | DBS | 57.93 | 68.95 | Buy | GGM, PB2.81x FY26 |
01/19/26 | CIMB | DBS | 59.12 | 60.5 | Hold | GGM |
02/09/26 | Lim & Tan | DBS | 59.3 | 60 | Hold | |
02/10/26 | UOB Kay Hian | DBS | 58.19 | 66.75 | Buy | GGM, PB2.7x FY26 |
02/11/26 | phillip | DBS | 57.8 | 60 | Accumulate | GGM, PB2.47x FY26 |
02/16/26 | Citi Research | DBS | 57.06 | 63.6 | Buy | GGM, PB2.6x |
03/10/26 | UOB Kay Hian | DBS | 54.31 | 66.75 | Buy | GGM, PB2.7x FY26 |
03/23/26 | JPM | DBS | 57.14 | 70 | Overweight | |
03/30/26 | UOB Kay Hian | DBS | 57.15 | 67.55 | Buy | GGM, PB2.73x FY26 |
04/06/26 | phillip | DBS | 57.55 | 60 | Accumulate | GGM, PB2.47x FY26 |
04/06/26 | JPM | DBS | 57.55 | 63 | Overweight | |
04/10/26 | DMG & Partners | DBS | 57.2 | 63.5 | Buy | |
04/16/26 | UOB Kay Hian | DBS | 57.7 | 67.55 | Buy | GGM, PB2.7x FY26 |
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