Stock calls for 25 August 2025

Date	Analyst	Company	Last	Target	Call	Valuation
08/25/25	Lim & Tan	BRC Asia	3.92	3.92	Hold
08/25/25	UOB Kay Hian	Dairy Farm	3.12	4.3	Buy	PER22.7x
08/25/25	UOB Kay Hian	First Resources	0.76	1.85	Buy
08/25/25	OCBC	Hong Leong Asia	2.4	3.4	Buy
08/25/25	Phillip	Hyphens Pharma	0.315	0.4	Buy	DCF
08/25/25	CIMB	ISDN	0.385	0.44	Add
08/25/25	UOB Kay Hian	Keppel Reit	0.965	1.18	Buy	DDM
08/25/25	DBS Vickers	SATS	3.26	3.8	Buy
08/25/25	CIMB	SATS	3.26	3.83	Add	DCF
08/25/25	Kim Eng	Singapore Post	0.5	0.51	Hold
08/25/25	Phillip	Thakral	1.43	2.12	Buy	Sum of parts
08/25/25	CIMB	UMS	1.38	1.87	Add	Up from $1.06
08/25/25	phillip	Wee Hur	0.715	0.9	Buy	Sum of parts

Baltic dry index - 1944

Related stock: Seatrium, Cosco & Pan Ocean.

US rig count (weekly) - 538

 Related stock: Seatrium & Cosco.

Jiutian - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/11/24	UOB Kay Hian	Jiutian	0.031	0.18	Buy

Jardine Matheson - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/07/24	Citi Research	Jardine Matheson	34.65	40.5	Buy

Japfa - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/07/24	CIMB	Japfa	0.32	0.37	Add	PB
07/29/24	DBS Vickers	Japfa	0.33	0.45	Buy	PER6.5x FY25
08/02/24	CIMB	Japfa	0.335	0.43	Add	PB
08/20/24	DBS Vickers	Japfa	0.335	0.45	Buy	PER6.5x FY25
08/23/24	DBS Vickers	Japfa	0.345	0.49	Buy	PER6.5x FY25
11/04/24	DBS Vickers	Japfa	0.39	0.56	Buy
01/20/25	DBS Vickers	Japfa	0.515	0.56	Buy
01/28/25	CIMB	Japfa	0.61	0.62	Accept Offer

Stock calls for 22 August 2025

Date	Analyst	Company	Last	Target	Call	Valuation
08/22/25	Phillip	BRC Asia	3.76	4.1	Accumulate	DCF
08/22/25	CIMB	BRC Asia	3.76	4.3	Add
08/22/25	DBS Vickers	Dairy Farm	3.16	3.9	Buy	PER18x FY26
08/22/25	Lim & Tan	Marco Polo	0.069	0.082	Buy	PER10x FY26
08/22/25	UOB Kay Hian	SATS	3.26	3.52	Buy	PER18.4x FY27
08/22/25	phillip	SATS	3.26	3.66	Accumulate	DCF
08/22/25	Lim & Tan	Singapore Post	0.5	0.725	Accumulate
08/22/25	OCBC	Singapore Post	0.5	0.495	Hold
08/22/25	DBS Vickers	Singtel	4.11	5.04	Buy	PER18.5x FY26

Isoteam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/21/24	SAC Capital	Isoteam	0.059	0.073	Buy
07/25/24	SAC Capital	Isoteam	0.06	0.073	Buy	PER6.3x
09/02/24	SAC Capital	Isoteam	0.065	0.084	Buy
10/25/24	DMG & Partners	Isoteam	0.057	0.07	Buy	PER6x FY25
02/12/25	Kim Eng	Isoteam	0.065	0.09	Buy
02/14/25	DMG & Partners	Isoteam	0.06	0.07	Buy	PER6x FY25
03/21/25	DMG & Partners	Isoteam	0.077	0.08	Buy
03/25/25	Kim Eng	Isoteam	0.078	0.104	Buy
04/16/25	CIMB	Isoteam	0.069	0.096	Add
05/08/25	Amfrasers	Isoteam	0.077	0.1	outperform	DCF
05/23/25	Kim Eng	Isoteam	0.075	0.104	Buy
07/03/25	CIMB	Isoteam	0.077	0.1	Add
07/07/25	Kim Eng	Isoteam	0.074	0.104	Buy

ISDN - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/29/24	CIMB	ISDN	0.275	0.28	Hold
02/12/25	CIMB	ISDN	0.305	0.35	Add
03/11/25	CIMB	ISDN	0.35	0.4	Add	PER
04/22/25	CIMB	ISDN	0.315	0.28	Hold
07/31/25	CIMB	ISDN	0.365	0.44	Add

Ireit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/26/24	DMG & Partners	Ireit	0.3	0.47	Buy
07/12/24	DMG & Partners	Ireit	0.29	0.4	Buy	DDM
08/08/24	DBS Vickers	Ireit	0.305	0.33	Hold	DCF
09/25/24	Lim & Tan	Ireit	0.31	0.37	Accumulate
11/13/24	DBS Vickers	Ireit	0.29	0.33	Hold	DDM
01/02/25	DMG & Partners	Ireit	0.285	0.34	Buy	DDM
02/18/25	DBS Vickers	Ireit	0.265	0.25	Hold	DDM
04/07/25	DMG & Partners	Ireit	0.245	0.34	Buy	DDM
08/11/25	DBS Vickers	Ireit	0.295	0.3	Hold	DCF

Stock calls for 21 August 2025

Date	Analyst	Company	Last	Target	Call	Valuation
08/21/25	CIMB	AEM	1.41	1.44	Hold	PER
08/21/25	CIMB3.64	BRC Asia	3.64	4	Add	PER
08/21/25	CIMB	Hyphens Pharma	0.29	0.43	Add	DCF
08/21/25	DBS Vickers	SATS	3.18	3.5	Buy	DCF & PER19x FY26
08/21/25	Lim & Tan	SATS	3.18	3.74	Accumulate
08/21/25	Phillip	Starhub	1.16	1.08	Neutral	EV/Ebitda6x FY25
08/21/25	JPM	Suntec Reit	1.23	1.45	Overweight

Innotek - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/14/24	Lim & Tan	Innotek	0.515	0	Accumulate
12/04/24	Lim & Tan	Innotek	0.44	0	Accumulate on weakness
01/13/25	Lim & Tan	Innotek	0.445	0	Accumulate on weakness
02/03/25	Lim & Tan	Innotek	0.43	0	Accumulate on weakness
03/03/25	Lim & Tan	Innotek	0.43	0	Accumulate
04/15/25	Lim & Tan	Innotek	0.36	0	Accumulate
08/14/25	Lim & Tan	Innotek	0.395	0	Hold

Info-Tech System - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/12/25	CIMB	Info-Tech System	0.83	1.1	Add	PER

IHH Healthcare - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/30/24	DBS Vickers	IHH Healthcare	1.9	2.18	Buy
08/30/24	Kim Eng	IHH Healthcare	1.9	2.05	Buy	Ringgit $7.13, Sum of parts
12/02/24	DBS Vickers	IHH Healthcare	2.19	2.58	Buy	Ringgit $8.50 target price, Sum of parts
12/02/24	Lim & Tan	IHH Healthcare	2.19	2.4	Hold
12/30/24	Kim Eng	IHH Healthcare	2.19	2.43	Buy	Ringgit $7.97, Sum of parts
01/22/25	DBS Vickers	IHH Healthcare	2.15	2.58	Buy	Ringgit $8.50 target price, Sum of parts
02/28/25	DBS Vickers	IHH Healthcare	2.15	2.58	Buy	Ringgit $8.50 target price, Sum of parts
03/21/25	DBS Vickers	IHH Healthcare	2.04	2.48	Buy	Ringgit $8.20 target price, Sum of parts
06/02/25	DBS Vickers	IHH Healthcare	2.1	2.48	Buy	Ringgit $8.20 target price, Sum of parts

Stock calls for 20 August 2025

Date	Analyst	Company	Last	Target	Call	Valuation
08/20/25	UOB Kay Hian	Dezign Format	0.305	0.37	Buy
08/20/25	Phillip	Frencken	1.45	1.76	Buy	PER18x FY25
08/20/25	Lim & Tan	Lum Chang Creations	0.445	0.49	Accumulate	PER9.6x FY26
08/20/25	UOB Kay Hian	Marco Polo	0.063	0.076	Buy
08/20/25	CIMB	Pacific Radiance	0.05	0.09	Add	PER
08/20/25	phillip	Q&M	0.465	0.545	Buy	PER25x FY26
08/20/25	DMG & Partners	SGX	16.25	15.9	Neutral
08/20/25	DBS Vickers	UOL	7.19	8.8	Buy	RNAV (40% disc)
08/20/25	Lim & Tan	UOL	7.19	8.11	Buy