CDL Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/01/25	Kim Eng	CDL Hospitality	0.8	0.7	Hold	DDM
09/24/25	DMG & Partners	CDL Hospitality	0.815	0.88	Neutral	DDM
10/31/25	CIMB	CDL Hospitality	0.82	0.87	Add	DDM
11/25/25	Lim & Tan	CDL Hospitality	0.825	0.83	Hold
12/08/25	DBS Vickers	CDL Hospitality	0.81	1	Buy
12/08/25	Citi Research	CDL Hospitality	0.81	0.8	Sell
02/02/26	DBS Vickers	CDL Hospitality	0.865	1	Buy	DCF
02/02/26	DMG & Partners	CDL Hospitality	0.865	1	Buy	DDM
02/02/26	Kim Eng	CDL Hospitality	0.865	1	Buy
02/02/26	Citi Research	CDL Hospitality	0.865	0.6	Sell	DDM & RNAV
02/03/26	Lim & Tan	CDL Hospitality	0.875	0.88	Hold
05/04/26	CIMB	CDL Hospitality	0.81	0.9	Add	DDM
06/29/26	JPM	CDL Hospitality	0.775	0.85	Neutral
07/30/26	DBS Vickers	CDL Hospitality	0.795	1	Buy	DCF
07/31/26	CIMB	CDL Hospitality	0.795	0.89	Add	DDM

CapitaRetail China - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/01/25	DBS Vickers	CapitaRetail China	0.76	0.75	Hold	DCF
09/30/25	OCBC	CapitaRetail China	0.785	0.705	Hold
10/31/25	DBS Vickers	CapitaRetail China	0.79	0.75	Hold	DCF
02/05/26	JPM	CapitaRetail China	0.79	0.78	Neutral
02/05/26	DBS Vickers	CapitaRetail China	0.785	0.75	Hold	DCF
02/06/26	OCBC	CapitaRetail China	0.78	0.655	Sell
03/25/26	OCBC	CapitaRetail China	0.635	0.655	Hold
04/15/26	JPM	CapitaRetail China	0.67	0.66	Neutral
06/29/26	JPM	CapitaRetail China	0.635	0.66	Neutral
08/06/26	DBS Vickers	CapitaRetail China	0.67	0.75	Hold	DCF

Capitaland Investment - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/13/25	Lim & Tan	Capitaland Investment	2.75	3.42	Buy
08/13/25	Citi Research	Capitaland Investment	2.75	3.4	Buy
08/15/25	Uob Kay Hian	Capitaland Investment	2.72	3.49	Buy	Sum of parts
08/15/25	DBS Vickers	Capitaland Investment	2.72	3.65	Buy	Sum of parts
08/15/25	CIMB	Capitaland Investment	2.72	4.3	Add	RNAV
08/15/25	Lim & Tan	Capitaland Investment	2.72	3.38	Buy
08/18/25	Phillip	Capitaland Investment	2.7	3.65	Buy	Sum of parts
09/25/25	Lim & Tan	Capitaland Investment	2.68	3.4	Buy
10/17/25	Lim & Tan	Capitaland Investment	2.65	3.39	Buy
11/04/25	DBS Vickers	Capitaland Investment	2.66	3.65	Buy	Sum of parts
11/07/25	CIMB	Capitaland Investment	2.65	4.3	Add	RNAV
11/07/25	Lim & Tan	Capitaland Investment	2.65	3.41	Buy
11/10/25	Phillip	Capitaland Investment	2.68	3.65	Buy	Sum of parts
11/14/25	Kim Eng	Capitaland Investment	2.69	3.3	Buy	Sum of parts
11/25/25	Lim & Tan	Capitaland Investment	2.63	3.39	Buy
12/08/25	Lim & Tan	Capitaland Investment	2.61	3.39	Buy
12/23/25	Lim & Tan	Capitaland Investment	2.67	3.5	Accumulate
01/05/26	Uob Kay Hian	Capitaland Investment	2.74	3.49	Buy	Sum of parts
01/07/26	Lim & Tan	Capitaland Investment	2.76	3.39	Accumulate
01/08/26	DBS Vickers	Capitaland Investment	2.78	3.65	Buy	Sum of parts
02/10/26	Lim & Tan	Capitaland Investment	3.16	3.3	Hold
02/11/26	Uob Kay Hian	Capitaland Investment	3.17	3.49	Buy	Sum of parts
02/11/26	DBS Vickers	Capitaland Investment	3.17	3.65	Buy	Sum of parts
02/12/26	Uob Kay Hian	Capitaland Investment	3.06	4.05	Buy	Sum of parts
02/12/26	CIMB	Capitaland Investment	3.06	4.19	Add	RNAV
02/12/26	CIMB	Capitaland Investment	3.06	3.4	Buy	RNAV (20% disc)
02/16/26	Phillip	Capitaland Investment	3.12	3.69	Buy	Sum of parts
03/10/26	Uob Kay Hian	Capitaland Investment	2.82	4.05	Buy	Sum of parts
04/20/26	Lim & Tan	Capitaland Investment	2.85	3.5	Accumulate
04/29/26	DBS Vickers	Capitaland Investment	2.81	3.4	Buy	Sum of parts
04/30/26	Phillip	Capitaland Investment	2.8	3.69	Buy	Sum of parts
04/30/26	Uob Kay Hian	Capitaland Investment	2.8	3.93	Buy	Sum of parts
06/25/26	DBS Vickers	Capitaland Investment	2.51	3.4	Buy	Sum of parts
06/25/26	JPM	Capitaland Investment	2.51	4	Overweight
08/05/26	DBS Vickers	Capitaland Investment	2.73	3.4	Buy	Sum of parts
08/13/26	OCBC	Capitaland Investment	2.73	3.58	Buy
08/14/26	Lim & Tan	Capitaland Investment	2.75	3.39	Accumulate
08/17/26	Phillip	Capitaland Investment	2.74	3.69	Buy	Sum of parts
09/16/26	Lim & Tan	Capitaland Investment	2.65	3.45	Accumulate
09/17/26	Uob Kay Hian	Capitaland Investment	2.64	3.93	Buy	Sum of parts
09/25/26	DBS Vickers	Capitaland Investment	2.6	3.4	Buy	Sum of parts
09/25/26	Lim & Tan	Capitaland Investment	2.6	3.47	Accumulate
10/16/26	Uob Kay Hian	Capitaland Investment	2.38	3.93	Buy	Sum of parts

Stock calls for 22 October 2026

Date	Analyst	Company	Last	Target	Call	Valuation
10/22/26	UOB Kay Hian	ART	0.805	1	Buy	DDM
10/22/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.23	3.11	Buy	DDM
10/22/26	UOB Kay Hian	Centurion	1.28	2.05	Buy	Sum of parts & PER12.5x FY27
10/22/26	UOB Kay Hian	Far East Hospitality	0.51	0.8	Buy	DDM
10/22/26	DBS Vickers	Frasers Centrepoint Trust	2.06	2.5	Buy	DCF, PB1.1x
10/22/26	UOB Kay Hian	Frasers Centrepoint Trust	2.06	3	Buy	DDM
10/22/26	Lim & Tan	Frasers Centrepoint Trust	2.06	2.54	Accumulate on weakness
10/22/26	DBS Vickers	Genting	0.605	0.67	Hold	EV/Ebitda6.9x FY26
10/22/26	Kim Eng	Keppel Corp	10.15	13	Buy	Sum of parts
10/22/26	DBS Vickers	Keppel DC Reit	2.04	2.55	Buy	PB1.5x
10/22/26	UOB Kay Hian	Keppel DC Reit	2.04	2.83	Buy	DDM
10/22/26	UOB Kay Hian	Lendlease Reit	0.525	0.8	Buy	DCF
10/22/26	UOB Kay Hian	Mapletree Commercial	1.14	1.67	Buy	DDM
10/22/26	UOB Kay Hian	Mapletree Industrial	1.74	1.72	Sell	DDM
10/22/26	UOB Kay Hian	Mapletree Logistics	1.07	1.13	Hold	DDM
10/22/26	UOB Kay Hian	NTT DC Reit	0.885	1.29	Buy	DDM
10/22/26	Lim & Tan	OUE Commercial	0.33	0.43	Accumulate
10/22/26	UOB Kay Hian	Parkway Life	4.04	5.02	Buy	DDM
10/22/26	UOB Kay Hian	Suntec Reit	1.36	1.67	Buy	DDM
10/22/26	DBS Vickers	UOL	7.9	13	Buy	RNAV (25% disc)

Trump is likely to lose his mid-term election! - Part 2

Trump is doing badly for the mid-term election as his latest poll is at a record low just before the election on 3 Novomber 2026.  Historical facts show that any US president with a poll of around 30% will lose any election.

He is fighting a losing battle as oil prices, particulary diesel prices, stay sky high (around $112 now) because oil prices affect the main street such as long haul transportation and farming costs (farming equipment use diesel).

Furthermore, Trump and his cronies are likely to get impeached if they lose control of both congress houses.

Hot news: Russia has won the Ukraine war!

As we've projected previously, Ukraine would lose the war.  We are correct on the outcome but wrong on the timeline.

https://sg-stock.blogspot.com/2024/04/ukraine-will-lose-war-in-2024.html

As stated previously, this Ukraine war was orchestrated by the US to raid Ukraine.  Who are winners and losers?  The US, Russia and China are the winners and the EU and Ukraine are the losers.  Why?

Winner:

1. US had taken Ukraine's black soil lands (fertile) and minerals.

2. Russia had occupied at least 20% of Ukraine.

3. China had conquered Russia consumer market and also got cheap Russian oil supplies.

Loser:

1. EU had lost cheap Russian oil and gas.

2. Ukraine had accumulated a few hundreds billions in debts from the EU that it couldn't repay for decades.

3. Ukraine had lost many ukrainian lives.

4. Ukraine had lost fertile lands and minerals to the US.

https://sg-stock.blogspot.com/2025/03/how-did-west-raid-ukraine.html

Russia has won the Ukraine war because Ukraine is willing to cede about 25% of its territory to Russia in exchange for a peace deal with Russia.

Zelensky has put himself in a dangerous position now because he has lost about 25% of Urkaine under his rein, ceded fertile lands and minerals to the US, accumulated a few hundreds billions debts and also caused the losses of many ukrainian lives.  He has to seek political asylum from the US if he wants to stay alive after signing the peace deal because his opposition will try to exterminate a traitor like him.

We've never wavered in our confidence about Russia's ability and capability to win the Ukraine war despite the misinformation campaigns conducted by the US and EU.  Although we're wrong on the timing, we've been vindicated by the outcome.  Cheers!

Capitaland Integrated Commercial Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/01/25	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.2	2.72	Buy	DDM
08/06/25	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.24	2.79	Buy	DDM
08/06/25	CIMB	Capitaland Integrated Commercial Trust	2.24	2.45	Add	DDM
08/06/25	DMG & Partners	Capitaland Integrated Commercial Trust	2.24	2.44	Buy	DDM
08/26/25	DBS Vickers	Capitaland Integrated Commercial Trust	2.26	2.5	Buy
09/01/25	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.28	2.79	Buy	DDM
10/13/25	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.34	2.79	Buy	DDM
10/28/25	DBS Vickers	Capitaland Integrated Commercial Trust	2.41	2.5	Buy
10/29/25	CIMB	Capitaland Integrated Commercial Trust	2.4	2.71	Add	DDM
10/30/25	DMG & Partners	Capitaland Integrated Commercial Trust	2.41	2.44	Buy	DDM
11/25/25	DBS Vickers	Capitaland Integrated Commercial Trust	2.36	2.5	Buy
11/26/25	DMG & Partners	Capitaland Integrated Commercial Trust	2.37	2.69	Buy	DDM
12/17/25	Lim & Tan	Capitaland Integrated Commercial Trust	2.33	0	Accumulate
12/22/25	DMG & Partners	Capitaland Integrated Commercial Trust	2.34	2.69	Buy	DDM
01/07/26	Lim & Tan	Capitaland Integrated Commercial Trust	2.39	2.54	Accumulate
01/15/26	DBS Vickers	Capitaland Integrated Commercial Trust	2.42	2.5	Buy
01/19/26	Lim & Tan	Capitaland Integrated Commercial Trust	2.42	2.56	Accumulate
02/06/26	DBS Vickers	Capitaland Integrated Commercial Trust	2.38	2.5	Buy
02/06/26	Lim & Tan	Capitaland Integrated Commercial Trust	2.38	2.84	Accumulate
02/09/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.45	2.95	Buy	DDM
02/09/26	DBS Vickers	Capitaland Integrated Commercial Trust	2.45	2.8	Buy
02/09/26	Kim Eng	Capitaland Integrated Commercial Trust	2.45	2.6	Buy
02/09/26	DMG & Partners	Capitaland Integrated Commercial Trust	2.45	2.69	Buy	DDM
02/13/26	DMG & Partners	Capitaland Integrated Commercial Trust	2.47	2.73	Buy	DDM
02/23/26	JPM	Capitaland Integrated Commercial Trust	2.42	2.75	Buy	Up from $2.60
03/05/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.4	2.95	Buy	DDM
04/01/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.35	2.95	Buy	DDM
04/10/26	DMG & Partners	Capitaland Integrated Commercial Trust	2.34	2.73	Buy	DDM
04/21/26	CIMB	Capitaland Integrated Commercial Trust	2.39	2.74	Add	DDM
04/21/26	Lim & Tan	Capitaland Integrated Commercial Trust	2.39	2.67	Accumulate
04/21/26	Citi Research	Capitaland Integrated Commercial Trust	2.39	2.81	Buy	Sum of parts
05/04/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.36	2.95	Buy	DDM
05/19/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.25	3.06	Buy	DDM
06/02/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.27	3.06	Buy	DDM
06/11/26	Lim & Tan	Capitaland Integrated Commercial Trust	2.33	2.7	Accumulate on weakness
06/29/26	DMG & Partners	Capitaland Integrated Commercial Trust	2.4	2.75	Buy	DDM
07/01/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.37	3.06	Buy	DDM
07/01/26	Lim & Tan	Capitaland Integrated Commercial Trust	2.37	0	Buy
07/09/26	CIMB	Capitaland Integrated Commercial Trust	2.41	2.74	Add	DDM
07/15/26	DMG & Partners	Capitaland Integrated Commercial Trust	2.43	2.75	Buy	DDM
07/21/26	DBS Vickers	Capitaland Integrated Commercial Trust	2.45	2.8	Buy
08/12/26	OCBC	Capitaland Integrated Commercial Trust	2.59	2.69	Buy
08/13/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.49	3.06	Buy	DDM
08/25/26	Kim Eng	Capitaland Integrated Commercial Trust	2.41	2.7	Buy
09/01/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.37	3.06	Buy	DDM
10/01/26	Uob Kay Hian	Capitaland Integrated Commercial Trust	2.23	3.06	Buy	DDM
10/14/26	DMG & Partners	Capitaland Integrated Commercial Trust	2.22	2.75	Buy	DDM