Stock calls for 16 August 2023

Date	Analyst	Company	Last	Target	Call	Valuation
08/16/23	DBS Vickers	APAC Realty	0.57	0.54	Hold	PER11x FY24
08/16/23	CIMB	APAC Realty	0.57	0.7	Add	DCF
08/16/23	phillip	City Developments	6.79	8.22	Buy	RNAV (45% disc)
08/16/23	UOB Kay Hian	Comfortdelgro	1.27	1.53	Buy	PER15x FY24
08/16/23	DBS Vickers	Comfortdelgro	1.27	1.65	Buy	PB1.3x & EV/Ebitda5x
08/16/23	DMG & Partners	Cromwell EUR	1.54	2.15	Buy	DDM
08/16/23	Lim & Tan	Manulife US Reit	0.089	0	Avoid
08/16/23	CIMB	Manulife US Reit	0.089	0.25	Add
08/16/23	DBS Vickers	Q&M	0.29	0.36	Hold
08/16/23	DBS Vickers	Sarine	0.355	0.3	Fully Valued	PER21x FY24
08/16/23	UOB Kay Hian	SATS	2.62	2.99	Buy	PER9.7x FY25
08/16/23	DBS Vickers	SATS	2.62	3.2	Buy
08/16/23	Lim & Tan	UMS	1.12	1.11	Hold
08/16/23	Kim Eng	UMS	1.12	1.16	Hold	PER9x FY24
08/16/23	UOB Kay Hian	Wilmar	3.64	4.3	Buy	Sum of parts
08/16/23	OCBC	Wilmar	3.64	4.42	Buy
08/16/23	DMG & Partners	Wilmar	3.64	4.25	Buy
08/16/23	CIMB	Wilmar	3.64	4.05	Add	Sum of parts
08/16/23	Citi Research	Wilmar	3.64	4.38	Buy	PER12x FY24