Singapore Post - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/11/25	OCBC	Singapore Post	0.505	0.59	Buy
08/11/25	Kim Eng	Singapore Post	0.505	0.63	Buy
08/22/25	Lim & Tan	Singapore Post	0.5	0.725	Accumulate
08/22/25	OCBC	Singapore Post	0.5	0.495	Hold
08/25/25	Kim Eng	Singapore Post	0.5	0.51	Hold
09/15/25	OCBC	Singapore Post	0.435	0.44	Hold
09/17/25	Lim & Tan	Singapore Post	0.43	0.725	Accumulate
11/10/25	Lim & Tan	Singapore Post	0.42	1	Accumulate on weakness
11/11/25	Kim Eng	Singapore Post	0.42	0.43	Hold
11/12/25	Lim & Tan	Singapore Post	0.42	0.51	Accumulate on weakness
12/10/25	Lim & Tan	Singapore Post	0.42	0.43	Hold
02/26/26	OCBC	Singapore Post	0.385	0.4	Hold
05/14/26	Lim & Tan	Singapore Post	0.375	0.4	Hold
05/14/26	OCBC	Singapore Post	0.335	0.4	Hold
06/24/26	Lim & Tan	Singapore Post	0.325	0.4	Hold
07/28/26	UOB Kay Hian	Singapore Post	0.355	0.66	Buy
08/27/26	Lim & Tan	Singapore Post	0.34	0.35	Hold
08/31/26	OCBC	Singapore Post	0.34	0.355	Hold

Singapore Land - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/12/26	Lim & Tan	Singland	3.45	0	Accumulate on weakness

Sing Investments & Finance - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/13/26	Kim Eng	Sing Investments & Finance	1.57	2.11	Buy	PB
06/11/26	Kim Eng	Sing Investments & Finance	1.53	2.11	Buy	PB
08/07/26	Kim Eng	Sing Investments & Finance	1.61	2.11	Buy	PB

Stock calls for 21 September 2026

Date	Analyst	Company	Last	Target	Call	Valuation
09/21/26	phillip	Elite ComReit	0.305	0.41	Buy	DDM
09/21/26	CIMB	Food Empire	2.11	3.33	Add	PER
09/21/26	Lim & Tan	Keppel Corp	11.03	13.1	Buy
09/21/26	Amfrasers	Metrocon	0.23	0.28	outperform	PER7x FY27
09/21/26	Amfrasers	Q&M	0.51	0.687	jou	DCF
09/21/26	Phillip	Stoneweg Reit	1.48	1.89	Buy	DDM
09/21/26	DBS Vickers	Suntec Reit	1.38	1.7	Buy
09/21/26	Lim & Tan	Suntec Reit	1.38	1.6	Accumulate
09/21/26	Phillip	United Hampshire	0.48	0.69	Buy	DDM

Red alert: The AI bloodbath is not over yet! - Part 11

Here's the latest updates for our shortlisted 5 sectors in China/HK.

1. AI

China had rejected the US suggestion to slow down the AI developments and it would continue to progress its AI developments at its own pace.  In other words, China will continue to support or expedite its AI developments.

Recently, Z.ai had increased its revenue forecast by 25% and minimax had been included in Singapore government sponsored AI programme (skillsfuture).  As China AI companies continue to expand their AI businesses in the east and west, their market shares and revenues will grow consistently.

2. EV

A major EV company (Xpeng) had decided to licence its car technologies to foreign automakers to boost its revenues.

Moreover, BYD and Xiaomi might join Xi's US visit to seek for US business opportunities.

3. Robot

Besides offering car technologies to foreign competitors, Xpeng had also decided to bring forward its mass production of  humanoid IRON to end of 2026.

Moreover, other EV makers such as BYD and Xiaomi are also developing their own humanoids to ride on this bandwagon.

4. Semiconductor

China's semiconductor industry is flourishing because many china firms are pivoting to domestic chips.  For example, Deepseek had just ordered 160,000 AI chips from Huawei.

Subsequently, Huawei had also decided to expedite its AI chip progress to meet the burgeoning domestic demands.  Furthermore, Huawei will start to use its tau logicfolding technique on its Ascend 960 series chip.

How good is Huawei Ascend 960 series chip?

The Ascend 960 series will be a 3nm class node chip compared to Ascend 950 (5nm class node) chip because the Ascend 960 will be using the Tau logicfolding technique.

The first huawei chip to use the Tau logicfolding technique is the upcoming Kirin 9050 mobile chip and it is used for the Huawei Mate 90 phone.

Therefore, we foresee that SMIC will benefit tremendously from the progressive chip developments because it is the only semiconductor fab that is capable to do mass production for advanced chips (7nm and below).

5. Memory chip

China mobile and technology manufacturers are also pivoting to domestic memory chips from YMTC and CXMT.

Furthermore, CXMT has achieved some breakthrough in its production process to meet the overwhelming demands for memory chips.

Who else will benefit from the overwhelming memory chip demands?

Montage Technology (HK/China) had just been included in Samsung Electronic and SK Hynix supply chains and it is already an existing supplier for CXMT.

In conclusion, the 5 promising sectors that we've shortlisted will have good fundamental and great potential for high returns in the foreseenable future and we hope that our viewers will benefit from our macro analyses.  Cheers!

SIA Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/15/25	phillip	SIA Engineering	3.13	3.83	Buy	PER
10/10/25	DBS Vickers	SIA Engineering	3.61	3.5	Under Review	PER21x FY26
10/17/25	phillip	SIA Engineering	3.43	3.83	Buy
11/05/25	DBS Vickers	SIA Engineering	3.47	3.5	Under Review	PER21x FY26
11/05/25	Lim & Tan	SIA Engineering	3.47	3.66	Accumulate on weakness
11/06/25	UOB Kay Hian	SIA Engineering	3.54	3.92	Buy	PER23.3x FY27
11/06/25	DBS Vickers	SIA Engineering	3.54	4	Buy	PER24x
11/12/25	phillip	SIA Engineering	3.71	4.14	Accumulate
11/12/25	OCBC	SIA Engineering	3.71	3.68	Hold
01/14/26	DBS Vickers	SIA Engineering	3.68	4	Buy	PER24x
02/20/26	DBS Vickers	SIA Engineering	3.57	4	Hold	DCF & PER24x
02/20/26	UOB Kay Hian	SIA Engineering	3.57	3.92	Buy	PER23.3x FY27
02/20/26	Lim & Tan	SIA Engineering	3.57	4	Hold
02/20/26	OCBC	SIA Engineering	3.57	4.05	Buy
02/20/26	CIMB	SIA Engineering	3.57	4	Add
02/25/26	phillip	SIA Engineering	3.61	4.14	Accumulate
04/01/26	phillip	SIA Engineering	3.24	4.14	Accumulate	PER26x
04/30/26	DBS Vickers	SIA Engineering	3.11	3.8	Buy	PER21x FY27 & DCF
05/12/26	Lim & Tan	SIA Engineering	3.18	4	Hold
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
05/18/26	phillip	SIA Engineering	3.15	4.06	Buy	PER25x
05/22/26	OCBC	SIA Engineering	3.16	4	Buy	PER24x FY27
07/13/26	phillip	SIA Engineering	3.35	4.06	Buy	PER25x
07/24/26	UOB Kay Hian	SIA Engineering	3.27	3.75	Buy	PER21.2x FY28
07/24/26	DBS Vickers	SIA Engineering	3.27	3.8	Buy	PER21x FY27 & DCF
07/24/26	CIMB	SIA Engineering	3.27	3.8	Add
08/04/26	UOB Kay Hian	SIA Engineering	3.15	3.75	Buy	PER21.2x FY28
09/01/26	UOB Kay Hian	SIA Engineering	3.11	3.75	Buy	PER21.2x FY28

SIA - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/01/25	Phillip	SIA	6.59	5.94	Reduce	PB1.1x FY25
09/15/25	Phillip	SIA	6.54	5.94	Reduce	PB1.1x FY25
09/16/25	UOB Kay Hian	SIA	6.51	6.05	Sell	PB1.17x FY26
10/17/25	UOB Kay Hian	SIA	6.53	6.03	Sell	PB1.17x FY26
10/17/25	Phillip	SIA	6.53	5.94	Reduce	PB1.1x FY25
11/03/25	DBS Vickers	SIA	6.63	6.5	Hold	EV/Ebitda5x FY26
11/14/25	CIMB	SIA	6.65	5.6	Reduce	PB
11/17/25	UOB Kay Hian	SIA	6.52	6.1	Sell	PB1.17x FY27
11/17/25	Kim Eng	SIA	6.52	6.35	Sell
11/19/25	Lim & Tan	SIA	6.48	6.22	Hold
11/24/25	Phillip	SIA	6.48	6.04	Neutral	PB1.2x FY26
11/24/25	OCBC	SIA	6.48	6.4	Hold
01/13/26	DBS Vickers	SIA	6.43	6.5	Hold	EV/Ebitda5x FY26
01/13/26	Citi Research	SIA	6.43	5.98	Sell
02/03/26	UOB Kay Hian	SIA	6.36	6.16	Hold	PB1.18x FY27
02/11/26	Citi Research	SIA	6.8	6.28	Sell	PB1.15x FY26/27
02/13/26	CIMB	SIA	6.9	7.23	Hold	PB
02/25/26	DBS Vickers	SIA	7.03	6.5	Hold	EV/Ebitda5x FY26
02/26/26	UOB Kay Hian	SIA	7.17	7.18	Hold	PB1.36x FY27
02/26/26	DBS Vickers	SIA	7.17	7.5	Hold	EV/Ebitda4.7x FY26
02/26/26	CIMB	SIA	7.17	7.44	Add	PB
02/26/26	OCBC	SIA	7.17	6.88	Hold
02/26/26	Kim Eng	SIA	7.17	7.03	Hold
03/02/26	Phillip	SIA	7.18	7	Neutral	PB1.3x
03/09/26	DBS Vickers	SIA	6.65	7.5	Hold	EV/Ebitda4.7x FY26
04/02/26	CIMB	SIA	6.66	6.77	Hold	PB
04/16/26	UOB Kay Hian	SIA	6.57	6.64	Hold	PB1.27x FY27
04/16/26	DBS Vickers	SIA	6.65	7.5	Hold	EV/Ebitda4.7x FY26
04/16/26	CIMB	SIA	6.65	6.8	Hold	PB
04/30/26	DBS Vickers	SIA	6.31	6.5	Hold	EV/Ebitda4.7x FY27
05/15/26	DBS Vickers	SIA	6.27	6.5	Hold	EV/Ebitda4.4x FY27
05/18/26	CIMB	SIA	6.42	6.44	Hold	PB
05/19/26	Phillip	SIA	6.41	6.43	Neutral	PB1.1x
06/16/26	UOB Kay Hian	SIA	7.17	6.66	Hold	PB1.27x FY27
06/16/26	Lim & Tan	SIA	7.17	6.7	Hold
06/26/26	Lim & Tan	SIA	7.65	6.7	Take Profit
07/14/26	DBS Vickers	SIA	7.67	6.5	Hold	EV/Ebitda4.4x FY27
07/14/26	CIMB	SIA	7.67	7.65	Hold	PB
07/30/26	UOB Kay Hian	SIA	7.53	6.71	Hold	PB1.28x FY27
07/31/26	Phillip	SIA	7.61	7.35	Neutral	PB2x
08/03/26	DBS Vickers	SIA	7.7	7.7	Hold	EV/Ebitda5x FY27
09/16/26	UOB Kay Hian	SIA	6.61	6.16	Sell	PB1.19x FY27