City Developments - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/25	DMG & Partners	City Developments	5.12	4.75	Neutral
03/03/25	Citi Research	City Developments	5.12	9.51	Buy	RNAV (40% disc)
03/03/25	OCBC	City Developments	5.12	6.02	Buy	RNAV (60% disc)
03/03/25	JPM	City Developments	5.12	4.85	Equal-weight	RNAV (60% disc)
03/17/25	phillip	City Developments	5.05	6.02	Buy	RNAV (45% disc)
05/21/25	Lim & Tan	City Developments	4.73	5.91	Accumulate
05/21/25	DMG & Partners	City Developments	4.73	4.7	Neutral
05/22/25	phillip	City Developments	4.79	6.02	Buy	RNAV (45% disc)
05/22/25	CIMB	City Developments	4.79	8.97	Add	RNAV
06/05/25	UOB Kay Hian	City Developments	4.99	4.6	Hold	PB0.72x
06/05/25	Lim & Tan	City Developments	4.99	5.91	Accumulate
06/09/25	DMG & Partners	City Developments	5.25	4.9	Neutral
06/23/25	DBS Vickers	City Developments	4.99	6.7	Buy	RNAV (60% disc)
07/02/25	CIMB	City Developments	5.24	8.97	Add	RNAV
07/16/25	JPM	City Developments	5.57	6.85	Overweight
07/18/25	Citi Research	City Developments	5.87	9.01	Buy
07/25/25	OCBC	City Developments	6.2	6.01	Hold
08/14/25	UOB Kay Hian	City Developments	6.8	8.5	Buy	PB0.8x
08/14/25	DBS Vickers	City Developments	6.8	9	Buy	RNAV (50% disc)
08/14/25	Lim & Tan	City Developments	6.8	6.8	Hold
08/18/25	phillip	City Developments	6.63	8.34	Buy	RNAV (35% disc)
10/08/25	DBS Vickers	City Developments	7.13	9	Buy	RNAV (50% disc)
10/08/25	JPM	City Developments	7.13	8.2	Overweight
11/18/25	CIMB	City Developments	7.31	8.97	Add	RNAV
11/18/25	Lim & Tan	City Developments	7.31	8.51	Hold
11/20/25	phillip	City Developments	7.22	8.34	Buy	RNAV (35% disc)
11/20/25	HSBC	City Developments	7.22	11	Overweight
11/20/25	Citi Research	City Developments	7.22	9.01	Buy	RNAV (40% disc)
11/26/25	DMG & Partners	City Developments	7.09	8.5	Buy
12/04/25	Lim & Tan	City Developments	7.31	8.12	Hold
12/22/25	DMG & Partners	City Developments	7.98	8.5	Buy
01/05/26	UOB Kay Hian	City Developments	8.02	8.5	Buy	PB0.8x
01/05/26	DMG & Partners	City Developments	8.02	9.5	Buy
01/07/26	JPM	City Developments	8.39	10.75	Overweight
01/16/26	DBS Vickers	City Developments	8.95	11.8	Buy	RNAV (35% disc)
01/21/26	UOB Kay Hian	City Developments	9.1	11.5	Buy	RNAV (15% disc)
01/21/26	Lim & Tan	City Developments	9.1	8.69	Hold
02/02/26	UOB Kay Hian	City Developments	9.28	11.5	Buy	RNAV (15% disc)
02/02/26	DBS Vickers	City Developments	9.28	11.8	Buy	RNAV (35% disc)
03/02/26	UOB Kay Hian	City Developments	9.82	11.5	Buy	RNAV (15% disc)
03/02/26	DBS Vickers	City Developments	9.82	12	Buy	RNAV (35% disc)
03/02/26	Lim & Tan	City Developments	9.82	10.22	Accumulate on weakness
03/05/26	phillip	City Developments	9.16	11.32	Buy	RNAV (25% disc)
03/16/26	JPM	City Developments	9.03	8.7	Neutral
04/01/26	Lim & Tan	City Developments	8.21	10.28	Accumulate on weakness

Stock calls for 14 April 2026

Date	Analyst	Company	Last	Target	Call	Valuation
04/14/26	UOB Kay Hian	Delfi	1.19	1.68	Buy	PER
04/14/26	Lim & Tan	Kingsmen Creative	0.6	0	Buy
04/14/26	Lim & Tan	Lum Chang Creations	0.87	1.04	Buy	PER12.9x FY26/27
04/14/26	phillip	NikkoAM-STC Asia Reit	0.801	0.795	Accumulate
04/14/26	Kim Eng	Q&M	0.6	0.64	Hold	PER

China Sunsine - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/04/25	UOB Kay Hian	China Sunsine	0.48	0.58	Buy	PER7.5x FY25
03/26/25	UOB Kay Hian	China Sunsine	0.52	0.63	Buy	PER7.5x FY25
04/10/25	UOB Kay Hian	China Sunsine	0.5	0.63	Buy	PER7.5x FY25
05/27/25	UOB Kay Hian	China Sunsine	0.57	0.63	Buy	PER7.5x FY25
06/03/25	UOB Kay Hian	China Sunsine	0.55	0.63	Buy	PER7.5x FY25
07/02/25	UOB Kay Hian	China Sunsine	0.55	0.63	Buy	PER7.5x FY25
09/03/25	UOB Kay Hian	China Sunsine	0.745	0.75	Buy	PER9.4x FY26
11/05/25	Lim & Tan	China Sunsine	0.7	0.75	Watchlist
11/21/25	UOB Kay Hian	China Sunsine	0.795	0.95	Buy	PER11x FY26
02/02/26	UOB Kay Hian	China Sunsine	0.73	0.95	Buy	PER11x FY26
03/03/26	UOB Kay Hian	China Sunsine	0.705	0.7	Hold	PER9x FY26

China Aviation Oil - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/07/25	Phillip	China Aviation Oil	0.86	0.85	Neutral	DCF
03/07/25	OCBC	China Aviation Oil	0.86	1.1	Buy
03/10/25	Lim & Tan	China Aviation Oil	0.865	1	Accumulate
04/16/25	Phillip	China Aviation Oil	0.83	0.85	Neutral	DCF
05/30/25	Phillip	China Aviation Oil	0.83	0.9	Accumulate	DCF
07/08/25	Lim & Tan	China Aviation Oil	0.915	0	Accumulate
07/16/25	Phillip	China Aviation Oil	0.976	0.9	Accumulate	DCF
07/30/25	OCBC	China Aviation Oil	1.15	1.4	Buy
08/18/25	Phillip	China Aviation Oil	1.23	1.5	Buy	DCF
08/19/25	CIMB	China Aviation Oil	1.22	1.45	Add
09/17/25	Phillip	China Aviation Oil	1.39	1.5	Buy
10/10/25	CIMB	China Aviation Oil	1.33	1.52	Add	PER
10/17/25	Phillip	China Aviation Oil	1.28	1.5	Buy
10/29/25	DBS Vickers	China Aviation Oil	1.32	1.75	Buy	PER10.8x FY26
01/09/26	Lim & Tan	China Aviation Oil	1.65	1.8	Accumulate
01/14/26	UOB Kay Hian	China Aviation Oil	1.74	2.09	Buy	PER14.5x FY26
02/02/26	UOB Kay Hian	China Aviation Oil	1.75	2.09	Buy	PER14.5x FY26
03/09/26	UOB Kay Hian	China Aviation Oil	1.83	2.63	Buy	PER15x FY26
03/12/26	Phillip	China Aviation Oil	1.95	2.53	Buy	PER11.2x FY26
03/18/26	DBS Vickers	China Aviation Oil	2.03	2.5	Buy	PER14x FY26

CH Offshore - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/30/25	Lim & Tan	CH Offshore	0.019	0.02	Take Profit

Stock calls for 13 April 2026

Date	Analyst	Company	Last	Target	Call	Valuation
04/13/26	Lim & Tan	Delfi	1.14	1.02	Accumulate on weakness
04/13/26	DBS Vickers	Far East Orchard	1.21	2	Unrated	RNAV (30% disc)
04/13/26	Kim Eng	Sing Investments & Finance	1.57	2.11	Buy	PB
04/13/26	Kim Eng	Singtel	4.88	5.25	Buy	Sum of parts

The latest US inflation report is really bad.

 US inflation (YOY): 3.3%

The US inflation had spiked to 3.3% due to the energy crisis caused by the Iran war.

Consequently, the US inflation expectation (1-yr) is projected to rise to 4.8%.  This will definitely cause the US consumption to fall in the future.

The US consumer sentiment had declined significant and this might indicate a significant cutback in consumer spending in the future too.  Subsequently, the US GDP growth will be greatly affected because the US derives 2/3 of its economic growth from US consumption.

Singapore minister Vivian has screwed up again! - Part 3

The US has just imposed a blockage of the strait of hormuz.

We hope that FM Vivian will use his warped principle of UNCLOS on the US too to insist on a free sea passage and not just on Iran.

The international law principle is that the international law is only applicable to a country that has signed up for it unless it is directed by the UN.  For example, when a country is not an ICC member, the ICC laws are not applicable to that country.

Both the US and Iran are not UNCLOS members and UNCLOS laws are not applicable to them or legally binding for them.  Let's see if FM Vivian will treat the US and Iran equally or he will have double standards between Iran and the US.

The Iran war situation report. - Part 46

Let's look at what happened over this weekend.

Iran and US delegates arrived in Pakistan on 11 April 2026.

However, the ceasefire talk fell out and both parties left Pakistan on 12 April 2026.

What happened next thereafter?

The US has just imposed the blockade of the strait of hormuz with immediate effect after the failure of the ceasefire talk.

This means Iran and US will block the strait of hormuz individually now.

Singapore minister Vivian has screwed up again! - Part 2

We're proven right when we said that FM Vivian made his 2nd major blunder in his political career.

Malaysia had been deeply offended by FM Vivian's remarks.  Basically, FM Vivian had offended all the UNCLOS members that had negotiated with Iran for the Hormuz passage.

These UNCLOS members were right to fight for the interest of their citizens by negotiating with Iran but FM Vivian preferred to impose his warped legal principle to denigrate others implicitly.

Let us give some simple explanations of UNCLOS and the Laws of War (IHL).

UNCLOS only regulates peacetime maritime navigations and resources but doesn't govern wartime maritime blockages.  Therefore, only the laws of war (IHL) governs maritime blockages in the case of the strait of hormuz as it is located right in front of a war zone (Iran).

In short, FM Vivian was wrong to cite UNCLOS as a legitimate principle to demand for a safe maritime passage in the strait of hormuz during a wartime.  By citing UNCLOS and imposing his warped principle, FM Vivian had offended all the other UNCLOS members that had negotiated with Iran.

https://sg-stock.blogspot.com/2026/04/singapore-minister-vivian-has-screwed.html

It seems that our FM Vivian has to learn more about international laws before he gives his comments in the future.  Singapore (SG) has to be more sensitive towards its neighbour Malaysia because SG is heavily invested in the JB-SG SEZ.  I believe SG doesn't want the CLOB saga 1997 to happen again for the SEZ.  Many SG investors lost a lot of monies when Malaysia terminated CLOB unilaterally.

The Iran war situation report. - Part 45

Iran didn't send its negotiation team to Islamabad to discuss the ceasefire deal with the US today.  This means that there is no ceasefire for the next 2 weeks.

Furthermore, Israel had no real intention of any ceasefire because it had started to bomb the China's BRI route in Iran.

Conversely, Qatar had started to boot out the US military because it was more of a liability than a shield.  Consequently, Saudi also had stated that it won't join the US to attack Iran.  Therefore, there are only 3 gulf states (Kuwait, UAE and Bahrain) that are supporrting the US attacks against Iran.

Last but not least, the truth of the Iranian protestors had come out.

The Iranian protestors were also armed by the US and the Iranian police were right to kill those protestors.

Cenurion Accommodation - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/19/25	Lim & Tan	Cenurion Accommodation	0.88	0	Subscribe
10/28/25	UOB Kay Hian	Cenurion Accommodation	1.08	1.23	Buy	DDM
11/06/25	DBS Vickers	Cenurion Accommodation	1.04	1.3	Buy	DCF
11/27/25	Kim Eng	Cenurion Accommodation	1.19	1.27	Buy	DDM
12/08/25	DBS Vickers	Cenurion Accommodation	1.1	1.3	Buy	DCF
01/05/26	UOB Kay Hian	Cenurion Accommodation	1.12	1.23	Buy	DDM
01/14/26	Lim & Tan	Cenurion Accommodation	1.14	1.25	Accumulate
01/19/26	DBS Vickers	Cenurion Accommodation	1.12	1.3	Buy	DCF
01/22/26	CIMB	Cenurion Accommodation	1.1	1.38	Add	DDM
02/11/26	DBS Vickers	Cenurion Accommodation	1.12	1.3	Buy	DCF
02/25/26	UOB Kay Hian	Cenurion Accommodation	1.13	1.55	Buy	DDM
02/25/26	CIMB	Cenurion Accommodation	1.13	1.39	Add	DDM
03/10/26	UOB Kay Hian	Cenurion Accommodation	1.06	1.55	Buy	DDM