Stock calls for 14 November 2019

Date	Analyst	Company	Last	Target	Call	Valuation
11/14/19	CIMB	APAC Realty	0.515	0.66	Add	DCF
11/14/19	DMG & Partners	APAC Realty	0.515	0.6	Buy	DCF
11/14/19	DBS Vickers	APAC Realty	0.515	0.46	Hold	PER12x FY20
11/14/19	DMG & Partners	Centurion	0.42	0.43	Neutral	DCF
11/14/19	DBS Vickers	Centurion	0.42	0.52	Buy	DCF
11/14/19	DMG & Partners	City Developments	10.47	10.5	Neutral	RNAV (40% discount)
11/14/19	Kim Eng	Comfortdelgro	2.38	2.7	Buy	DCF
11/14/19	DMG & Partners	Comfortdelgro	2.38	2.38	Neutral	DCF
11/14/19	UOB Kay Hian	Comfortdelgro	2.38	2.27	Hold	Buy @ $2
11/14/19	DBS Vickers	Comfortdelgro	2.38	2.48	Hold	Sum of parts, PER17.8x FY20
11/14/19	CIMB	Comfortdelgro	2.38	2.28	Hold	DCF
11/14/19	DBS Vickers	Delfi	0.96	1.51	Buy	PER23.1x FY20
11/14/19	DMG & Partners	Fu Yu	0.225	0.24	Buy	DCF
11/14/19	Lim & Tan	Fu Yu	0.225	0	Buy
11/14/19	DMG & Partners	Golden Agri	0.265	0.25	Neutral	Sum of parts
11/14/19	Amfrasers	IFS Capital	0.225	0.3	Outperform	PB0.6x FY20
11/14/19	DMG & Partners	Oxley	0.345	0.43	Buy	RNAV (45% discount)
11/14/19	DBS Vickers	SATS	4.99	5.06	Hold	DCF & PER22x FY21
11/14/19	DMG & Partners	Sembcorp Marine	1.29	1.6	Buy	PB1.47x FY20
11/14/19	UOB Kay Hian	Sembcorp Marine	1.29	1.17	Sell
11/14/19	CIMB	Sembcorp Marine	1.29	1.26	Hold	PB1.2x CY21
11/14/19	DMG & Partners	Valuetronics	0.725	0.81	Buy	DCF
11/14/19	Kim Eng	Valuetronics	0.725	0.98	Buy	PB2x FY20
11/14/19	UOB Kay Hian	Valuetronics	0.725	0.91	Buy	PER12x
11/14/19	DBS Vickers	Wilmar	3.96	4.35	Buy	Sum of parts, PER16.3x FY20