SIA - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/05/24	Lim & Tan	SIA	6.8	6.88	Accumulate
06/05/24	Citi Research	SIA	6.8	6.76	Hold
07/02/24	Lim & Tan	SIA	6.88	0	Accumulate
07/15/24	Kim Eng	SIA	7.03	7.1	Hold	PB1.34x FY25
07/17/24	UOB Kay Hian	SIA	7.09	6.43	Hold
07/17/24	CIMB	SIA	7.09	6.78	Hold
07/24/24	DBS Vickers	SIA	7.06	6.5	Hold	EV/Ebitda5x FY24/25
08/01/24	Citi Research	SIA	6.97	6.76	Hold	PB1.25x FY25
08/01/24	CIMB	SIA	6.97	5.88	Hold
08/02/24	Kim Eng	SIA	6.24	6.55	Hold
08/02/24	Phillip	SIA	6.24	5.3	Reduce
08/05/24	DBS Vickers	SIA	6.11	6.4	Hold	EV/Ebitda5x FY25/26
08/16/24	UOB Kay Hian	SIA	6.12	5.71	Sell	PB
09/02/24	Kim Eng	SIA	6.28	6.55	Hold
09/17/24	DBS Vickers	SIA	6.5	6.4	Hold	EV/Ebitda5x FY25/26
09/17/24	UOB Kay Hian	SIA	6.5	5.83	Sell	PB
09/19/24	OCBC	SIA	6.6	6.84	Hold
10/16/24	DBS Vickers	SIA	6.39	6.4	Hold
10/22/24	CIMB	SIA	6.5	5.88	Reduce	PB
11/11/24	DBS Vickers	SIA	6.45	6.4	Hold
11/12/24	UOB Kay Hian	SIA	6.29	5.72	Sell	PB1.09x FY26
11/12/24	Phillip	SIA	6.29	5.25	Reduce	PB1x FY25
11/13/24	DBS Vickers	SIA	6.28	6	Hold	EV/Ebitda5x FY25
11/13/24	OCBC	SIA	6.28	6.3	Hold
01/16/25	UOB Kay Hian	SIA	6.27	5.8	Sell	PB1.1x FY26
02/18/25	DBS Vickers	SIA	6.42	6	Hold
02/19/25	Phillip	SIA	6.45	5.25	Reduce	PB1x FY25
02/24/25	Phillip	SIA	6.55	5.73	Neutral	PB1.1x FY25
02/24/25	DBS Vickers	SIA	6.55	6.3	Hold	EV/Ebitda5x FY25/26
02/24/25	OCBC	SIA	6.55	6.5	Hold	PB1.09x FY25
02/25/25	UOB Kay Hian	SIA	6.65	6.09	Hold
03/19/25	Phillip	SIA	6.74	5.74	Neutral	PB1.1x FY25
04/16/25	Phillip	SIA	6.3	5.74	Neutral	PB1.1x FY25
04/17/25	UOB Kay Hian	SIA	6.35	6.22	Hold	PB1.16x FY26
04/24/25	CIMB	SIA	6.59	6	Hold
05/16/25	DBS Vickers	SIA	6.88	6.3	Hold	EV/Ebitda5x FY25/26
05/16/25	CIMB	SIA	6.88	6.88	Hold	PB
05/16/25	Kim Eng	SIA	6.88	6.85	Hold
05/19/25	UOB Kay Hian	SIA	6.9	6.63	Hold	PB1.25x FY26
05/19/25	Phillip	SIA	6.9	6.08	Reduce	PB1.1x FY25
06/12/25	DBS Vickers	SIA	7.06	6.4	Hold	EV/Ebitda5x FY26
06/16/25	Kim Eng	SIA	6.94	6.85	Hold
06/17/25	UOB Kay Hian	SIA	6.87	6.63	Hold	PB1.25x FY26
06/17/25	Lim & Tan	SIA	6.87	6.73	Hold

Sheng Siong - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/19/24	DMG & Partners	Sheng Siong	1.5	1.96	Buy
07/22/24	Citi Research	Sheng Siong	1.47	1.68	Buy
07/30/24	DBS Vickers	Sheng Siong	1.5	1.62	Hold
07/30/24	Lim & Tan	Sheng Siong	1.5	1.8	Accumulate
07/31/24	CIMB	Sheng Siong	1.54	1.9	Add
07/31/24	DMG & Partners	Sheng Siong	1.54	1.86	Buy	PER21x FY24/25
08/02/24	phillip	Sheng Siong	1.53	1.66	Accumulate	PER18x
08/20/24	UOB Kay Hian	Sheng Siong	1.52	1.88	Accumulate
09/30/24	DBS Vickers	Sheng Siong	1.5	1.62	Hold
10/01/24	DBS Vickers	Sheng Siong	1.53	1.8	Buy	PER18x FY25
10/02/24	DMG & Partners	Sheng Siong	1.54	1.86	Buy	PER21x FY24/25
10/03/24	DMG & Partners	Sheng Siong	1.55	1.88	Buy	PER21x FY24/25
10/10/24	Citi Research	Sheng Siong	1.55	1.74	Buy
10/30/24	Lim & Tan	Sheng Siong	1.58	1.81	Accumulate
11/01/24	DMG & Partners	Sheng Siong	1.59	2	Buy	PER21x FY25
11/04/24	phillip	Sheng Siong	1.6	1.74	Accumulate	PER18x FY25
11/29/24	UOB Kay Hian	Sheng Siong	1.62	1.93	Buy	PER20x FY25
03/03/25	phillip	Sheng Siong	1.64	1.76	Accumulate	PER18x FY25
03/03/25	DBS Vickers	Sheng Siong	1.64	1.9	Buy	PER19x FY25
03/18/25	UOB Kay Hian	Sheng Siong	1.63	1.92	Buy	PER20x FY25
03/18/25	Citi Research	Sheng Siong	1.63	1.9	Buy
04/07/25	Lim & Tan	Sheng Siong	1.65	1.89	Hold
04/08/25	UOB Kay Hian	Sheng Siong	1.59	1.92	Buy	PER20x FY25
04/24/25	DMG & Partners	Sheng Siong	1.76	1.98	Buy
04/30/25	DBS Vickers	Sheng Siong	1.74	1.9	Buy	PER19x FY25
05/02/25	phillip	Sheng Siong	1.76	1.89	Accumulate	PER18x FY25
05/02/25	DBS Vickers	Sheng Siong	1.76	2	Buy	PER19x FY25/26
05/02/25	Citi Research	Sheng Siong	1.76	2.05	Buy	PER20x FY26
05/05/25	UOB Kay Hian	Sheng Siong	1.76	1.97	Buy	PER20x FY25
06/03/25	UOB Kay Hian	Sheng Siong	1.83	1.97	Buy	PER20x FY25
06/10/25	DBS Vickers	Sheng Siong	1.83	2.3	Buy	PER20.9x FY26
06/23/25	OCBC	Sheng Siong	1.89	1.99	Hold

SGX - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/10/24	CIMB	SGX	9.67	10.7	Add
06/12/24	DMG & Partners	SGX	9.57	10.4	Neutral	PER21x
06/12/24	UOB Kay Hian	SGX	9.57	10.65	Hold
07/10/24	DMG & Partners	SGX	9.68	10.4	Neutral	PER21x
07/10/24	Citi Research	SGX	9.68	10.9	Buy
08/08/24	Lim & Tan	SGX	9.79	10.49	Hold
08/12/24	phillip	SGX	9.82	10.78	Accumulate	PER18.6x FY25
08/12/24	DBS Vickers	SGX	9.82	10.2	Hold	PER23x FY24
08/12/24	DMG & Partners	SGX	9.82	10.8	Neutral	PER21x
09/10/24	DMG & Partners	SGX	10.98	11.7	Neutral	PER21x
09/10/24	Citi Research	SGX	10.98	12.7	Buy
09/16/24	UOB Kay Hian	SGX	11.23	11.62	Hold
09/16/24	Citi Research	SGX	11.23	12.7	Buy	DDM
09/16/24	CIMB	SGX	11.23	12.5	Hold
09/23/24	Lim & Tan	SGX	11.25	11.26	Hold
09/23/24	Morgan Stanley	SGX	11.25	10.01	Underweight
10/11/24	DBS Vickers	SGX	11.58	12.8	Buy
10/16/24	UOB Kay Hian	SGX	11.71	11.83	Hold	PER22x FY25
10/17/24	DMG & Partners	SGX	11.7	11.4	Neutral
11/05/24	Citi Research	SGX	11.35	13.1	Buy
11/18/24	Morgan Stanley	SGX	11.42	14.31	Overweight
11/21/24	DMG & Partners	SGX	12.16	12.8	Neutral	PER21x
12/10/24	DMG & Partners	SGX	12.57	12.8	Neutral	PER21x
12/11/24	MorningStar	SGX	12.51	13.1	3-Star
01/14/25	UOB Kay Hian	SGX	12.12	11.83	Hold	PER22x FY25
01/15/25	DMG & Partners	SGX	12.13	12.8	Neutral
02/07/25	UOB Kay Hian	SGX	12.71	12.58	Hold	PER22x FY25
02/07/25	phillip	SGX	12.71	13.9	Accumulate	PER21x
02/07/25	DMG & Partners	SGX	12.71	12.8	Neutral	PER21x
02/10/25	DBS Vickers	SGX	13.99	14	Buy	DDM, PER24x FY25
02/14/25	Citi Research	SGX	13.47	11.9	Sell	DDM
02/24/25	DMG & Partners	SGX	12.8	13.6	Neutral	PER22x FY25
04/10/25	OCBC	SGX	12.12	14.09	Buy
04/30/25	OCBC	SGX	14.15	14.78	Hold
05/21/25	DMG & Partners	SGX	14.11	14.1	Neutral
06/13/25	UOB Kay Hian	SGX	13.86	14.08	Hold	PER23x FY26
06/13/25	Lim & Tan	SGX	13.86	13.48	Hold
06/20/25	Kim Eng	SGX	13.85	16.09	Buy	DCF
06/25/25	DBS Vickers	SGX	13.9	14	Buy

Stock calls for 1 July 2025

Date	Analyst	Company	Last	Target	Call	Valuation
07/01/25	Lim & Tan	Food Empire	1.84	1.98	Accumulate on weakness
07/01/25	DMG & Partners	Riverstone	0.67	0.95	Buy	DCF
07/01/25	CIMB	Seatrium	2.01	2.8	Add	PB
07/01/25	Lim & Tan	Singtel	3.82	4.4	Accumulate