Sanli Environment - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/11/25	SAC Capital	Sanli Env	0.157	0.228	Buy
08/18/25	Kim Eng	Sanli Env	0.21	0.38	Buy	PER15x FY26/27
09/04/25	CIMB	Sanli Env	0.275	0.51	Add	PER
09/30/25	Kim Eng	Sanli Env	0.265	0.38	Buy	PER15x FY26/27
10/21/25	Kim Eng	Sanli Env	0.285	0.38	Buy	PER15x FY26/27
10/22/25	Lim & Tan	Sanli Env	0.31	0.44	Buy
10/23/25	Kim Eng	Sanli Env	0.311	0.5	Buy
11/11/25	Kim Eng	Sanli Env	0.34	0.53	Buy	PER
11/17/25	Kim Eng	Sanli Env	0.315	0.5	Buy	PER
11/25/25	CIMB	Sanli Env	0.29	0.47	Add	PER
01/23/26	Kim Eng	Sanli Env	0.32	0.45	Buy	PER
04/24/26	CIMB	Sanli Env	0.205	0.33	Add	PER
04/27/26	Kim Eng	Sanli Env	0.196	0.31	Buy	PER
06/08/26	CIMB	Sanli Env	0.176	0.22	Add	PER
06/08/26	Kim Eng	Sanli Env	0.176	0.26	Buy

Samudera - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/26	Lim & Tan	Samudera	1.06	0	Hold

Stock calls for 10 June 2026

Date	Analyst	Company	Last	Target	Call	Valuation
06/10/26	UOB Kay Hian	DBS	63.76	65.2	Buy	GGM, PB2.62x FY26
06/10/26	JPM	DBS	63.76	63	Neutral
06/10/26	Lim & Tan	Manulife US Reit	0.053	0.0615	Hold
06/10/26	Lim & Tan	PanUnited	1.47	1.6	Hold
06/10/26	DMG & Partners	Thai Beverage	0.44	0.56	Buy
06/10/26	UOB Kay Hian	Wee Hur	0.64	0.9	Buy	Sum of parts

The Iran war situation report. - Part 71

The Iran war has resumed!

The US had begun its airstrikes against Iran.

Iran had retaliated against the US airstrikes by attacking US bases in the Gulf.

Like what we've projected earlier, this Iran war won't end so soon until the US gave in to Iran's demands because Iran won't relent since it was not losing.  The cold hard fact is Iran is having the upper hand in this war and the US is at the losing end.  The longer this war drags on, the worse it is for the US because anti-Iran war sentiment is rising in the US now.

Sabana - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/13/25	Lim & Tan	Sabana	0.365	0	Hold

Riverstone - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/08/25	DMG & Partners	Riverstone	0.935	1.08	Buy
05/09/25	UOB Kay Hian	Riverstone	0.855	0.82	Hold	PER18x FY25
05/13/25	DMG & Partners	Riverstone	0.765	0.95	Buy	DCF
06/19/25	UOB Kay Hian	Riverstone	0.675	0.71	Hold	PER16x FY25
07/01/25	DMG & Partners	Riverstone	0.67	0.95	Buy	DCF
10/08/25	UOB Kay Hian	Riverstone	0.755	0.98	Buy	PER20x FY26
10/14/25	CIMB	Riverstone	0.82	0.91	Add	PER
11/12/25	UOB Kay Hian	Riverstone	0.81	1.05	Buy	PER22x FY26
11/12/25	CIMB	Riverstone	0.81	0.91	Add	PER
01/16/26	UOB Kay Hian	Riverstone	0.9	1.05	Buy	PER22x FY26
03/03/26	CIMB	Riverstone	0.765	0.78	Add
03/03/26	UOB Kay Hian	Riverstone	0.765	0.77	Hold	PER20x FY26
04/23/26	DMG & Partners	Riverstone	0.765	0.87	Neutral
05/12/26	UOB Kay Hian	Riverstone	0.82	1.1	Buy	PER25x FY27
05/12/26	CIMB	Riverstone	0.82	1	Add	PER
06/03/26	UOB Kay Hian	Riverstone	0.88	1.1	Buy	PER25x FY27

RH Petrogas - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/05/25	UOB Kay Hian	RH Petrogas	0.156	0.254	Buy	Sum of parts
08/19/25	UOB Kay Hian	RH Petrogas	0.178	0.245	Buy	Sum of parts
03/13/26	UOB Kay Hian	RH Petrogas	0.245	0.263	Buy	Sum of parts

Stock calls for 9 June 2026

Date	Analyst	Company	Last	Target	Call	Valuation
06/09/26	UOB Kay Hian	Addvalue	0.169	0.36	Buy
06/09/26	UOB Kay Hian	CSE Global	1.33	1.79	Buy	PER29x FY27
06/09/26	Lim & Tan	Wee Hur	0.63	0.9	Accumulate on weakness

The Iran war situation report. - Part 70

Iran and Israel have started their fight again!

Conversely, the US and Israel have started to doubt each other.  The US has raised Israel spying level to critical and Israel has stopped consultting the US by atttacking Iran.

Iran has declared in public that the hormuz toll or transit fee will be implemented when the strait is open.

How much will be the transit fee (hormuz toll)?  The existing fee is $1.5-2m.  However, we are expecting that this fee will be much lower in the future and will be similar to other transit fees such as the suez canal or panama fee.

The other bad news is Houthis has just joined in the maritime blockage for Israel in the red sea and this will make life very difficult for Israel because Israel has to import many things.

Reclaims Global - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/28/25	SAC Capital	Reclaims Global	0.39	0.497	Buy
01/12/26	UOB Kay Hian	Reclaims Global	0.405	0.56	Buy	PER12x FY27
02/02/26	UOB Kay Hian	Reclaims Global	0.48	0.56	Buy	PER12x FY27
02/12/26	Lim & Tan	Reclaims Global	0.47	0.6	Buy	PER
03/11/26	Lim & Tan	Reclaims Global	0.47	0.6	Accumulate
04/01/26	Lim & Tan	Reclaims Global	0.215	0.29	Accumulate	Ex-bonus
04/20/26	UOB Kay Hian	Reclaims Global	0.22	0.27	Buy	PER12x FY27

Raffles Medical - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/08/25	UOB Kay Hian	Raffles Medical	0.92	1.06	Buy	PER28x FY25
04/08/25	DMG & Partners	Raffles Medical	0.92	1.08	Buy	Sum of parts
04/24/25	Kim Eng	Raffles Medical	1.01	1.13	Buy	DCF
06/11/25	Lim & Tan	Raffles Medical	0.975	1.11	Accumulate on weakness
06/23/25	DMG & Partners	Raffles Medical	0.955	1.08	Buy	Sum of parts
06/30/25	UOB Kay Hian	Raffles Medical	0.965	1.06	Buy	PER28x FY25
07/08/25	UOB Kay Hian	Raffles Medical	1	1.18	Buy	PER31x FY25
07/28/25	DBS Vickers	Raffles Medical	1.05	1.12	Buy	Sum of parts, PER25x
07/28/25	Lim & Tan	Raffles Medical	1.05	1.13	Hold
07/29/25	UOB Kay Hian	Raffles Medical	1.07	1.25	Buy	PER31x FY25
07/29/25	DBS Vickers	Raffles Medical	1.07	1.32	Buy	PER30x FY26
07/31/25	phillip	Raffles Medical	1.02	1.02	Neutral	DCF
08/06/25	DMG & Partners	Raffles Medical	1.01	1.1	Neutral	Sum of parts
10/01/25	DBS Vickers	Raffles Medical	0.98	1.32	Buy	PER30x FY26
11/26/25	DMG & Partners	Raffles Medical	0.975	1.15	Buy	Sum of parts
12/22/25	DMG & Partners	Raffles Medical	1.02	1.15	Buy	Sum of parts
01/06/26	CIMB	Raffles Medical	1.01	1.23	Add	Up from $1.20
01/23/26	DMG & Partners	Raffles Medical	1.01	1.15	Buy	Sum of parts
02/13/26	DMG & Partners	Raffles Medical	1.02	1.15	Buy	Sum of parts
02/23/26	DBS Vickers	Raffles Medical	1.02	1.32	Buy	PER30x FY26
02/23/26	Lim & Tan	Raffles Medical	1.02	1.2	Accumulate on weakness
02/24/26	UOB Kay Hian	Raffles Medical	1.07	1.25	Buy	PER29.8x FY27
02/24/26	DBS Vickers	Raffles Medical	1.07	1.25	Buy	PER30x FY26
02/25/26	phillip	Raffles Medical	1.07	1.02	Neutral	DCF
04/23/26	DMG & Partners	Raffles Medical	1.02	1.3	Buy

Raffles Education - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/15/25	Amfrasers	Raffles Education	0.107	0.34	outperform	DCF
05/19/26	Amfrasers	Raffles Education	0.13	0.32	outperform	DCF