Hot news: SG foreign minister asked China not to bypass the straits of Malacca and was retorted by Indonesia.

SG foreign minister was retorted by Indonesia for telling China not to bypass the straits of Malacca and use Indonesia's port.

https://inf.news/en/world/44570ea6b38ed90881981a06e85ea281.html

Ascott Residence Trust (ART)

Date	Analyst	Company	Last	Target	Call	Valuation
12/17/24	DBS Vickers	ART	0.875	1.15	Buy	DCF
12/19/24	OCBC	ART	0.875	1.06	Buy
01/02/25	UOB Kay Hian	ART	0.87	1.38	Buy	DDM
01/03/25	Phillip	ART	0.89	1.03	Buy	DDM
01/09/25	Kim Eng	ART	0.895	1.15	Buy
01/27/25	Lim & Tan	ART	0.88	1.08	Accumulate
01/28/25	Phillip	ART	0.89	1.05	Buy	DDM
01/28/25	Citi Research	ART	0.89	1.12	Buy	DDM & RNAV
02/04/25	OCBC	ART	0.895	0.99	Buy
02/17/25	Phillip	ART	0.875	1.05	Buy	DDM
03/06/25	UOB Kay Hian	ART	0.86	1.38	Buy	DDM
03/13/25	CIMB	ART	0.88	1.13	Add	DDM
03/24/25	Phillip	ART	0.87	1.05	Buy	DDM
04/01/25	UOB Kay Hian	ART	0.87	1.38	Buy	DDM
04/21/25	Phillip	ART	0.845	1.05	Buy	DDM
04/28/25	DBS Vickers	ART	0.855	1.15	Buy	DCF
05/21/25	UOB Kay Hian	ART	0.86	1.38	Buy	DDM
05/28/25	Kim Eng	ART	0.86	1.1	Buy
06/27/25	UOB Kay Hian	ART	0.875	1.56	Buy	DDM
07/03/25	Phillip	ART	0.885	1.05	Buy	DDM
07/29/25	DBS Vickers	ART	0.905	1.15	Buy	DCF
07/29/25	Lim & Tan	ART	0.905	1.11	Accumulate
07/30/25	OCBC	ART	0.91	1.02	Buy
07/31/25	Phillip	ART	0.905	1.05	Buy	DDM
08/01/25	UOB Kay Hian	ART	0.895	1.56	Buy	DDM
08/04/25	Kim Eng	ART	0.89	1.05	Buy	DDM
08/05/25	DBS Vickers	ART	0.905	1.15	Buy	DCF
08/28/25	Lim & Tan	ART	0.875	1.08	Accumulate
09/01/25	UOB Kay Hian	ART	0.885	1.56	Buy	DDM
10/29/25	DBS Vickers	ART	0.955	1.15	Buy	DCF
10/29/25	Lim & Tan	ART	0.955	1.06	Accumulate
10/30/25	UOB Kay Hian	ART	0.96	1.56	Buy	DDM
10/30/25	Phillip	ART	0.96	1.05	Buy	DDM
12/01/25	UOB Kay Hian	ART	0.945	1.56	Buy	DDM
12/08/25	DBS Vickers	ART	0.935	1.15	Buy	DCF

ARA Hospitality (Acrophyte) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/25	DBS Vickers	ARA Hospitality (Acrophyte)	0.215	0.25	Buy	DCF

APAC Realty - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/09/24	DBS Vickers	APAC Realty	0.395	0.48	Hold	PER11x
12/16/24	DMG & Partners	APAC Realty	0.39	0.42	Buy	DCF
01/07/25	DBS Vickers	APAC Realty	0.385	0.5	Buy	PER13x
01/17/25	DMG & Partners	APAC Realty	0.405	0.42	Buy	DCF
02/19/25	DMG & Partners	APAC Realty	0.455	0.42	Buy	DCF
03/03/25	DBS Vickers	APAC Realty	0.415	0.5	Buy	PER13x
03/17/25	DMG & Partners	APAC Realty	0.42	0.48	Buy	DCF
03/18/25	Lim & Tan	APAC Realty	0.415	0.49	Accumulate
07/02/25	DMG & Partners	APAC Realty	0.48	0.54	Buy	DCF
08/05/25	Lim & Tan	APAC Realty	0.565	0.66	Accumulate
08/11/25	DBS Vickers	APAC Realty	0.635	0.8	Buy	PER13x FY25/26
08/12/25	Lim & Tan	APAC Realty	0.705	0.8	Accumulate
09/01/25	Lim & Tan	APAC Realty	0.735	0.82	Accumulate	PER15.5x FY25/26
09/15/25	DMG & Partners	APAC Realty	0.88	0.8	Neutral
10/10/25	DBS Vickers	APAC Realty	0.695	0.8	Buy	PER13x FY25/26

Stock calls for 2 January 2026

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/26	UOB Kay Hian	A-Reit	2.83	4.02	Buy	DDM
01/02/26	DBS Vickers	Ascendas India Trust	1.22	1.5	Buy	DDM
01/02/26	UOB Kay Hian	Frasers Logistics	0.995	1.22	Buy	DDM
01/02/26	Lim & Tan	Keppel Corp	10.35	11.4	Accumulate
01/02/26	UOB Kay Hian	Keppel Reit	0.975	1.12	Buy	DDM
01/02/26	Lim & Tan	Keppel Reit	0.975	1.05	Hold
01/02/26	DMG & Partners	Keppel Reit	0.975	0.98	Neutral
01/02/26	UOB Kay Hian	Lendlease Reit	0.62	0.81	Buy	DDM
01/02/26	UOB Kay Hian	Mapletree Commercial	1.47	1.84	Buy	DDM
01/02/26	DBS Vickers	Nam Cheong	0.94	1.25	Buy	PER8x FY26

Alpina - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/04/25	Lim & Tan	Alpina	0.31	0.38	Wait	Offer $0.38

AIMS AMP Cap Ind Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/11/24	Lim & Tan	AIMS AMP Cap Ind Reit	1.26	1.47	Accumulate
12/16/24	DMG & Partners	AIMS AMP Cap Ind Reit	1.24	1.46	Buy	DDM
01/10/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.29	1.46	Buy	DDM
01/31/25	Lim & Tan	AIMS AMP Cap Ind Reit	1.28	1.47	Accumulate
02/19/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.26	1.46	Buy	DDM
03/03/25	Kim Eng	AIMS AMP Cap Ind Reit	1.23	1.39	Buy	DDM
03/24/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.26	1.48	Buy	DDM
05/07/25	DBS Vickers	AIMS AMP Cap Ind Reit	1.27	1.55	Buy	DCF
05/07/25	Lim & Tan	AIMS AMP Cap Ind Reit	1.27	1.43	Accumulate
05/08/25	Kim Eng	AIMS AMP Cap Ind Reit	1.27	1.2	Hold	DDM
06/27/25	Lim & Tan	AIMS AMP Cap Ind Reit	1.31	1.41	Hold
07/14/25	Lim & Tan	AIMS AMP Cap Ind Reit	1.33	1.5	Accumulate
07/23/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.4	1.52	Buy	DDM
08/05/25	Kim Eng	AIMS AMP Cap Ind Reit	1.36	1.25	Hold	DDM
08/06/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.35	1.52	Buy	DDM
10/30/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.39	1.52	Buy	DDM
11/06/25	DBS Vickers	AIMS AMP Cap Ind Reit	1.39	1.6	Buy
11/10/25	Kim Eng	AIMS AMP Cap Ind Reit	1.41	1.44	Buy	DDM

AEM - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/28/25	DBS Vickers	AEM	1.43	1.72	Buy	PER20x FY25
03/03/25	UOB Kay Hian	AEM	1.32	1.09	Sell	PER15x FY25
03/03/25	DBS Vickers	AEM	1.32	1.69	Buy	PER20x FY25/26
04/22/25	UOB Kay Hian	AEM	1.1	1.09	Sell	PER15x FY25
05/14/25	DBS Vickers	AEM	1.21	1.69	Buy	PER20x FY25/26
05/15/25	UOB Kay Hian	AEM	1.29	1.09	Sell	PER15x FY25
05/15/25	DBS Vickers	AEM	1.29	1.5	Buy	PER20x FY25/26
06/26/25	DBS Vickers	AEM	1.24	1.5	Buy	PER20x FY25/26
07/25/25	DBS Vickers	AEM	1.69	2.1	Buy	PER25x FY26
08/05/25	UOB Kay Hian	AEM	1.62	1.09	Sell	PER15x FY25
08/14/25	DBS Vickers	AEM	1.53	2.1	Buy	PER25x FY26
08/21/25	CIMB	AEM	1.41	1.44	Hold	PER
08/29/25	UOB Kay Hian	AEM	1.52	1.25	Sell	PER19x FY26
09/19/25	DBS Vickers	AEM	1.57	2.1	Buy	PER25x FY26
09/23/25	Amfrasers	AEM	1.92	2	Buy
10/06/25	DBS Vickers	AEM	2.04	2.1	Buy	PER25x FY26
11/13/25	DBS Vickers	AEM	1.8	2.1	Buy	PER25x FY26
11/14/25	UOB Kay Hian	AEM	1.83	1.51	Sell	PER23x FY26
11/19/25	Lim & Tan	AEM	1.73	1.6	Sell