| Date | Analyst | Company | Last | Target | Call | Valuation |
| 08/27/18 | Lim & Tan | GL Ltd | 0.77 | 0 | Buy | |
| 08/27/18 | Kim Eng | Oxley | 0.35 | 0.36 | Hold | |
| 08/27/18 | CIMB | Silverlake | 0.455 | 0.56 | Add | DCF |
| 08/27/18 | UOB Kay Hian | Synagie | 0.27 | 0.45 | Buy | Price-to-Sales 4.2x FY19 |
| 08/27/18 | DMG & Partners | UG Healthcare | 0.22 | 0.32 | Buy | PER12x FY19 |
Monday, August 27, 2018
Stock calls for 27 August 2018
Saturday, August 25, 2018
Is a HDB really the same as a leasehold private property?
http://www.asiaone.com/singapore/pm-lee-hsien-loong-refutes-notion-99-year-hdb-lease-extended-rental-not-sale
Quote:
"HDB lessees have all the rights over their flats that owners of such leasehold private properties have. You can live in it, you can transact it, you can bequeath it to your children - it is yours," said Mr Lee, at a book launch held at the National University of Singapore.
End Quote.
If a HDB has the same property right as a leasehold private property, why does the HDB address a HDB owner as lessee instead of property owner whilst the URA addresses the leasehold private property owner as owner?
This shows that the HDB doesn't recognise the HDB as the true owner of the flat but just a lessee whilst URA recognises the leasehold property owner as the true owner.
Quote:
"HDB lessees have all the rights over their flats that owners of such leasehold private properties have. You can live in it, you can transact it, you can bequeath it to your children - it is yours," said Mr Lee, at a book launch held at the National University of Singapore.
End Quote.
If a HDB has the same property right as a leasehold private property, why does the HDB address a HDB owner as lessee instead of property owner whilst the URA addresses the leasehold private property owner as owner?
This shows that the HDB doesn't recognise the HDB as the true owner of the flat but just a lessee whilst URA recognises the leasehold property owner as the true owner.
Baltic dry index - 1697
Today, Friday, August 24 2018, the Baltic Dry Index decreased by 12 points, reaching 1697 points.
Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points.
=====================
Related stocks: Sembcorp Marine, Cosco & Pan Ocean.
US rig count - 1044
HOUSTON, Aug. 24 (Xinhua) -- The number of active drilling rigs in the United States decreased by 13 to 1044 this week, showed weekly data released by Baker Hughes on Friday.
The Houston-based oilfield services company reported that the U.S. state of Louisiana led the drop with reducing by seven rigs, while Texas gained three rigs and increased its overall rig count to 528.
The number of rigs operating in U.S. oil fields fell by nine to a total of 860 rigs this week, which is the biggest reduction since May 2016. More than half of the U.S. oil rigs were located in the Permian Basin region of western Texas and southeastern New Mexico.
The West Texas Intermediate (WTI) for October delivery rose 0.89 U.S. dollar to settle at 68.72 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery added 1.09 dollars to 75.82 dollars a barrel on the London ICE Futures Exchange.
==================
Related stocks: Keppel Corp, Sembcorp Marine & Cosco.
Friday, August 24, 2018
Wing Tai - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/11/17 | Kim Eng | Wing Tai | 1.64 | 1.67 | Hold | |
| 01/11/17 | Jefferies | Wing Tai | 1.64 | 2.88 | Buy | Up from $2.40 |
| 02/07/17 | OCBC | Wing Tai | 1.785 | 2.37 | Buy | |
| 03/10/17 | CIMB | Wing Tai | 1.79 | 2.05 | Add | RNAV (35% discount) |
| 03/13/17 | Deutsche | Wing Tai | 1.935 | 2 | Buy | |
| 03/13/17 | Kim Eng | Wing Tai | 1.935 | 1.67 | Hold | |
| 03/13/17 | OCBC | Wing Tai | 1.935 | 2.37 | Buy | |
| 03/13/17 | UOB Kay Hian | Wing Tai | 1.935 | 2.54 | Buy | |
| 03/16/17 | Kim Eng | Wing Tai | 1.9 | 1.8 | Hold | |
| 05/12/17 | Deutsche | Wing Tai | 1.86 | 2.4 | Buy | |
| 05/12/17 | Kim Eng | Wing Tai | 1.86 | 1.85 | Hold | |
| 05/24/17 | CIMB | Wing Tai | 1.845 | 2.05 | Add | RNAV (35% discount) |
| 05/24/17 | Lim & Tan | Wing Tai | 1.845 | 0 | Buy on weakness | |
| 05/24/17 | OCBC | Wing Tai | 1.845 | 2.37 | Buy | |
| 05/24/17 | UOB Kay Hian | Wing Tai | 1.845 | 2.61 | Buy | RNAV (25% discount) |
| 06/05/17 | OCBC | Wing Tai | 1.91 | 2.37 | Buy | |
| 06/14/17 | DBS Vickers | Wing Tai | 2.01 | 2.37 | Buy | |
| 06/22/17 | Deutsche | Wing Tai | 2.02 | 2.93 | Buy | |
| 07/18/17 | CIMB | Wing Tai | 2.02 | 2.05 | Add | |
| 08/25/17 | CIMB | Wing Tai | 2.13 | 2.32 | Add | RNAV (35% discount) |
| 08/25/17 | Lim & Tan | Wing Tai | 2.13 | 0 | Buy | |
| 08/29/17 | OCBC | Wing Tai | 2.12 | 2.37 | Buy | |
| 09/05/17 | UOB Kay Hian | Wing Tai | 2.11 | 2.61 | Buy | RNAV (25% discount) |
| 10/04/17 | UOB Kay Hian | Wing Tai | 2.18 | 2.61 | Buy | RNAV (25% discount) |
| 10/06/17 | Lim & Tan | Wing Tai | 2.24 | 0 | Buy | |
| 10/20/17 | Deutsche | Wing Tai | 2.24 | 2.6 | Buy | |
| 10/24/17 | Lim & Tan | Wing Tai | 2.32 | 0 | Buy | |
| 10/25/17 | OCBC | Wing Tai | 2.33 | 2.77 | Buy | |
| 10/25/17 | DBS Vickers | Wing Tai | 2.33 | 2.77 | Buy | |
| 11/02/17 | UOB Kay Hian | Wing Tai | 2.42 | 2.61 | Buy | RNAV (25% discount) |
| 12/01/17 | UOB Kay Hian | Wing Tai | 2.17 | 2.78 | Buy | |
| 12/14/17 | OCBC | Wing Tai | 2.3 | 2.77 | Buy | |
| 01/04/18 | UOB Kay Hian | Wing Tai | 2.29 | 2.78 | Buy | RNAV (20% discount) |
| 01/04/18 | Deutsche | Wing Tai | 2.29 | 2.6 | Buy | |
| 01/19/18 | UOB Kay Hian | Wing Tai | 2.34 | 2.78 | Buy | |
| 02/13/18 | OCBC | Wing Tai | 2.13 | 2.64 | Buy | |
| 02/13/18 | UOB Kay Hian | Wing Tai | 2.13 | 2.78 | Buy | |
| 03/02/18 | UOB Kay Hian | Wing Tai | 2.2 | 2.78 | Buy | |
| 04/03/18 | UOB Kay Hian | Wing Tai | 2.06 | 2.78 | Buy | |
| 05/03/18 | UOB Kay Hian | Wing Tai | 2.05 | 2.78 | Buy | RNAV (20% discount) |
| 06/05/18 | UOB Kay Hian | Wing Tai | 2.05 | 2.78 | Buy | RNAV (20% discount) |
| 07/04/18 | UOB Kay Hian | Wing Tai | 1.99 | 2.78 | Buy | RNAV (20% discount) |
| 07/24/18 | Jefferies | Wing Tai | 2.11 | 2.4 | Buy |
Wilmar - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/03/17 | DMG & Partners | Wilmar | 3.59 | 3.28 | Neutral | |
| 01/11/17 | DBS Vickers | Wilmar | 3.67 | 3.39 | Hold | |
| 02/01/17 | UOB Kay Hian | Wilmar | 3.88 | 3.5 | Sell | Sum of parts, PER12.1x FY17 |
| 02/13/17 | DBS Vickers | Wilmar | 3.93 | 3.39 | Hold | |
| 02/21/17 | CIMB | Wilmar | 3.9 | 3.93 | Hold | Sum of parts |
| 02/21/17 | Credit Suisse | Wilmar | 3.9 | 3.73 | Neutral | |
| 02/22/17 | DMG & Partners | Wilmar | 3.78 | 3.56 | Neutral | Sum of parts |
| 02/22/17 | OCBC | Wilmar | 3.78 | 3.7 | Hold | PER14x FY17 |
| 03/02/17 | UOB Kay Hian | Wilmar | 3.65 | 3.5 | Sell | Sum of parts, PER12.1x FY17, Buy @ $3.20 |
| 03/13/17 | DBS Vickers | Wilmar | 3.58 | 3.9 | Hold | |
| 04/11/17 | DBS Vickers | Wilmar | 3.52 | 3.9 | Hold | |
| 04/11/17 | DMG & Partners | Wilmar | 3.52 | 3.62 | Neutral | |
| 04/13/17 | Credit Suisse | Wilmar | 3.52 | 3.5 | Neutral | |
| 05/05/17 | UOB Kay Hian | Wilmar | 3.47 | 3.5 | Hold | Sum of parts, PER12.1x FY17, Buy @ $3.20 |
| 05/12/17 | CIMB | Wilmar | 3.43 | 3.93 | Add | Sum of parts |
| 05/12/17 | Credit Suisse | Wilmar | 3.43 | 3.5 | Neutral | |
| 05/12/17 | OCBC | Wilmar | 3.43 | 3.7 | Hold | |
| 05/15/17 | CIMB | Wilmar | 3.76 | 4.52 | Add | Sum of parts |
| 05/15/17 | DMG & Partners | Wilmar | 3.76 | 3.62 | Neutral | DCF, PER13x |
| 05/15/17 | Macquarie | Wilmar | 3.76 | 3.7 | Neutral | |
| 05/15/17 | UOB Kay Hian | Wilmar | 3.76 | 4.4 | Buy | Sum of parts, PER20x |
| 05/16/17 | Credit Suisse | Wilmar | 3.82 | 3.9 | Neutral | Sum of parts |
| 05/16/17 | DBS Vickers | Wilmar | 3.82 | 3.9 | Hold | DCF |
| 06/14/17 | UOB Kay Hian | Wilmar | 3.51 | 4.4 | Buy | Sum of parts |
| 07/11/17 | DBS Vickers | Wilmar | 3.32 | 3.9 | Hold | |
| 08/11/17 | CIMB | Wilmar | 3.42 | 4.52 | Add | Sum of parts |
| 08/11/17 | DMG & Partners | Wilmar | 3.42 | 3.43 | Neutral | Sum of parts |
| 08/11/17 | OCBC | Wilmar | 3.42 | 3.66 | Hold | |
| 08/14/17 | DBS Vickers | Wilmar | 3.2 | 3.52 | Hold | DCF |
| 08/15/17 | Credit Suisse | Wilmar | 3.2 | 3.5 | Neutral | PER15x FY17 |
| 08/28/17 | DIR | Wilmar | 3.22 | 3.82 | Buy | PER15x FY17/18 |
| 09/05/17 | DBS Vickers | Wilmar | 3.25 | 3.52 | Hold | DCF |
| 09/07/17 | OCBC | Wilmar | 3.27 | 3.68 | Hold | |
| 10/31/17 | UOB Kay Hian | Wilmar | 3.4 | 4.1 | Buy | Sum of parts, PER14x FY18 |
| 11/13/17 | DBS Vickers | Wilmar | 3.31 | 3.52 | Hold | |
| 11/14/17 | UOB Kay Hian | Wilmar | 3.32 | 4.1 | Buy | Sum of parts, PER14x FY18 |
| 11/14/17 | DMG & Partners | Wilmar | 3.32 | 3.33 | Neutral | Sum of parts |
| 11/14/17 | CIMB | Wilmar | 3.32 | 4.27 | Add | Sum of parts |
| 11/14/17 | OCBC | Wilmar | 3.32 | 3.51 | Hold | |
| 11/16/17 | DBS Vickers | Wilmar | 3.22 | 3.5 | Hold | DCF, PER15x FY18 |
| 12/13/17 | DMG & Partners | Wilmar | 3.11 | 3.31 | Neutral | Sum of parts |
| 12/20/17 | CIMB | Wilmar | 3.1 | 4.27 | Add | |
| 01/04/18 | CIMB | Wilmar | 3.16 | 4.27 | Add | |
| 01/15/18 | DBS Vickers | Wilmar | 3.16 | 3.5 | Hold | |
| 01/16/18 | UOB Kay Hian | Wilmar | 3.19 | 4.1 | Buy | Sum of parts, PER14x FY18 |
| 02/23/18 | CIMB | Wilmar | 3.04 | 4.1 | Add | Sum of parts |
| 02/23/18 | UOB Kay Hian | Wilmar | 3.04 | 4.1 | Buy | Sum of parts, PER14x FY18 |
| 02/23/18 | OCBC | Wilmar | 3.04 | 3.51 | Hold | PER13.5x FY18/19 |
| 02/26/18 | DBS Vickers | Wilmar | 3.13 | 3.65 | Buy | DCF |
| 02/26/18 | DMG & Partners | Wilmar | 3.13 | 3.45 | Buy | Sum of parts |
| 03/05/18 | CIMB | Wilmar | 3.18 | 4.1 | Add | Sum of parts |
| 03/07/18 | UOB Kay Hian | Wilmar | 3.16 | 4.1 | Buy | Sum of parts |
| 03/08/18 | OCBC | Wilmar | 3.18 | 3.51 | Buy | |
| 03/14/18 | DBS Vickers | Wilmar | 3.23 | 3.65 | Buy | |
| 04/03/18 | DBS Vickers | Wilmar | 3.21 | 3.65 | Buy | |
| 04/05/18 | DMG & Partners | Wilmar | 3.08 | 3.45 | Buy | |
| 04/06/18 | CIMB | Wilmar | 3.1 | 4.1 | Add | |
| 04/30/18 | UOB Kay Hian | Wilmar | 3.26 | 4.1 | Buy | Sum of parts, PER14x FY18 |
| 05/11/18 | CIMB | Wilmar | 3.21 | 4.1 | Add | Sum of parts |
| 05/11/18 | UOB Kay Hian | Wilmar | 3.21 | 4.1 | Buy | Sum of parts, PER14x FY18 |
| 05/11/18 | DMG & Partners | Wilmar | 3.21 | 3.45 | Buy | |
| 05/14/18 | UOB Kay Hian | Wilmar | 3.16 | 3.9 | Buy | Sum of parts, PER14.5x FY18 |
| 05/14/18 | DBS Vickers | Wilmar | 3.16 | 3.65 | Buy | DCF, PER14.4x FY18 |
| 05/14/18 | OCBC | Wilmar | 3.16 | 3.51 | Buy | |
| 05/14/18 | DMG & Partners | Wilmar | 3.16 | 3.59 | Buy | Sum of parts |
| 06/05/18 | DBS Vickers | Wilmar | 3.28 | 3.65 | Buy | |
| 06/21/18 | UOB Kay Hian | Wilmar | 3.12 | 3.9 | Buy | |
| 06/27/18 | OCBC | Wilmar | 3.06 | 3.51 | Buy | |
| 07/03/18 | UOB Kay Hian | Wilmar | 3.04 | 3.9 | Buy | PER14.5x FY18 |
| 07/03/18 | DBS Vickers | Wilmar | 3.04 | 3.5 | Buy | DCF |
| 07/04/18 | DMG & Partners | Wilmar | 3.07 | 3.59 | Buy | Sum of parts |
| 08/02/18 | DMG & Partners | Wilmar | 3.15 | 3.51 | Buy | Sum of parts |
| 08/14/18 | UOB Kay Hian | Wilmar | 3.13 | 3.9 | Buy | PER14.5x FY18 |
| 08/14/18 | CIMB | Wilmar | 3.13 | 4.1 | Add | Sum of parts |
| 08/15/18 | DBS Vickers | Wilmar | 3.25 | 3.61 | Buy | DCF |
| 08/15/18 | DMG & Partners | Wilmar | 3.25 | 3.69 | Buy | Sum of parts |
Stock calls for 24 August 2018
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 08/24/18 | DBS Vickers | A-Reit | 2.73 | 3 | Buy | |
| 08/24/18 | phillip | Banyan Tree | 0.54 | 0.73 | Accumulate | Sum of parts, PB0.94x FY18 |
| 08/24/18 | DBS Vickers | CDL Hospitality | 1.52 | 1.95 | Buy | |
| 08/24/18 | DBS Vickers | Frasers Centrepoint Trust | 2.28 | 2.45 | Buy | |
| 08/24/18 | CIMB | Ho Bee | 2.65 | 3 | Add | RNAV (40% discount) |
| 08/24/18 | UOB Kay Hian | Keppel Corp | 6.81 | 7.37 | Hold | Sum of parts, Buy @ $6.6 |
| 08/24/18 | DBS Vickers | Mapletree Logistics | 1.25 | 1.53 | Buy | |
| 08/24/18 | Kim Eng | Singtel | 3.28 | 3.46 | Hold | DCF |
| 08/24/18 | Lim & Tan | UG Healthcare | 0.23 | 0 | Buy |
Yeah! The current Australian PM is ousted!
https://sg.news.yahoo.com/australian-pms-rival-cleared-remain-parliament-ahead-expected-012503157--business.html
The anti-China Aussie PM is ousted!
The relationship between China & Australia will turn for the better with the new Aussie PM in place.
The anti-China Aussie PM is ousted!
The relationship between China & Australia will turn for the better with the new Aussie PM in place.
Thursday, August 23, 2018
Wheelock Properties - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 03/01/17 | Lim & Tan | Wheelock Properties | 1.82 | 0 | Hold | |
| 03/13/17 | OCBC | Wheelock Properties | 1.88 | 2.27 | Buy | |
| 06/02/17 | Phillip | Wheelock Properties | 1.74 | 2.28 | Trading Buy | RNAV (15% discount) |
| 06/05/17 | OCBC | Wheelock Properties | 1.82 | 2.27 | Buy | |
| 06/14/17 | DBS Vickers | Wheelock Properties | 1.895 | 2.27 | Buy | |
| 08/15/17 | OCBC | Wheelock Properties | 1.805 | 2.27 | Buy | |
| 09/06/17 | UOB Kay Hian | Wheelock Properties | 1.84 | 2.33 | Buy | RNAV (15% discount) |
| 09/28/17 | OCBC | Wheelock Properties | 1.865 | 2.27 | Buy | |
| 10/06/17 | Lim & Tan | Wheelock Properties | 1.905 | 0 | Buy | |
| 11/15/17 | UOB Kay Hian | Wheelock Properties | 1.95 | 2.33 | Buy | RNAV (15% discount) |
| 11/24/17 | OCBC | Wheelock Properties | 1.91 | 2.27 | Buy | |
| 12/01/17 | UOB Kay Hian | Wheelock Properties | 1.9 | 2.33 | Buy | |
| 12/14/17 | OCBC | Wheelock Properties | 1.89 | 2.27 | Buy | |
| 03/01/18 | OCBC | Wheelock Properties | 1.87 | 2.34 | Buy | |
| 05/22/18 | Lim & Tan | Wheelock Properties | 1.81 | 0 | Buy | |
| 06/05/18 | UOB Kay Hian | Wheelock Properties | 1.74 | 2.33 | Buy | |
| 07/16/18 | Lim & Tan | Wheelock Properties | 1.74 | 0 | Buy | |
| 07/19/18 | Lim & Tan | Wheelock Properties | 1.74 | 2.1 | Reject offer | Offer $2.1 |
| 07/19/18 | OCBC | Wheelock Properties | 1.74 | 2.34 | Reject offer | Offer $2.1 |
| 08/14/18 | OCBC | Wheelock Properties | 2.19 | 2.34 | Reject offer | Offer $2.1 |
Viva Industrial - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/10/17 | CIMB | Viva Industrial | 0.755 | 0.83 | Not Rated | Bloomberg consensus |
| 01/20/17 | OCBC | Viva Industrial | 0.765 | 0.78 | Buy | |
| 01/27/17 | DMG & Partners | Viva Industrial | 0.765 | 0.85 | Buy | DDM |
| 01/27/17 | OCBC | Viva Industrial | 0.765 | 0.8 | Buy | |
| 02/03/17 | Religare | Viva Industrial | 0.765 | 0.9 | Buy | |
| 03/10/17 | DMG & Partners | Viva Industrial | 0.78 | 0.85 | Buy | |
| 04/07/17 | DMG & Partners | Viva Industrial | 0.79 | 0.85 | Buy | DDM |
| 04/18/17 | Kim Eng | Viva Industrial | 0.795 | 0.95 | Buy | DDM |
| 04/26/17 | OCBC | Viva Industrial | 0.79 | 0.795 | Buy | |
| 05/02/17 | DMG & Partners | Viva Industrial | 0.815 | 0.85 | Buy | DDM |
| 05/02/17 | OCBC | Viva Industrial | 0.815 | 0.825 | Buy | |
| 05/23/17 | OCBC | Viva Industrial | 0.805 | 0.83 | Buy | |
| 06/14/17 | Amfrasers | Viva Industrial | 0.84 | 0.88 | Hold | Consensus target |
| 06/22/17 | Kim Eng | Viva Industrial | 0.86 | 0.95 | Buy | |
| 07/03/17 | Kim Eng | Viva Industrial | 0.89 | 0.95 | Buy | |
| 07/12/17 | DMG & Partners | Viva Industrial | 0.905 | 0.85 | Buy | |
| 07/18/17 | DMG & Partners | Viva Industrial | 0.915 | 0.97 | Buy | DDM |
| 07/27/17 | OCBC | Viva Industrial | 0.92 | 0.895 | Hold | |
| 07/27/17 | Kim Eng | Viva Industrial | 0.92 | 1 | Buy | DDM |
| 08/03/17 | Kim Eng | Viva Industrial | 0.82 | 1 | Buy | |
| 08/07/17 | Amfrasers | Viva Industrial | 0.925 | 0.97 | Buy | DDM |
| 08/21/17 | CIMB | Viva Industrial | 0.925 | 0.96 | Not Rated | Bloomberg consensus |
| 09/21/17 | DMG & Partners | Viva Industrial | 0.945 | 0.97 | Buy | |
| 10/10/17 | DMG & Partners | Viva Industrial | 0.94 | 0.97 | Buy | DDM |
| 10/30/17 | OCBC | Viva Industrial | 0.96 | 0.9 | Hold | |
| 10/30/17 | DMG & Partners | Viva Industrial | 0.96 | 1.02 | Buy | DDM |
| 01/29/18 | Kim Eng | Viva Industrial | 0.94 | 1.05 | Buy | DDM |
| 01/29/18 | OCBC | Viva Industrial | 0.94 | 0.93 | Hold | |
| 03/23/18 | OCBC | Viva Industrial | 0.75 | 0.93 | Buy | |
| 04/02/18 | OCBC | Viva Industrial | 0.885 | 0.93 | Buy | |
| 04/16/18 | Kim Eng | Viva Industrial | 0.88 | 1.05 | Buy | |
| 05/16/18 | Kim Eng | Viva Industrial | 0.89 | 1.05 | Buy | DDM |
| 05/17/18 | OCBC | Viva Industrial | 0.89 | 0.9 | Hold | |
| 05/21/18 | Kim Eng | Viva Industrial | 0.89 | 1.05 | Hold | |
| 05/21/18 | OCBC | Viva Industrial | 0.89 | 0.942 | Accept Offer | $0.096 cash & 1.6 ESR-Reit share (New value $0.53) |
| 08/08/18 | OCBC | Viva Industrial | 0.895 | 0.942 | Accept Offer | $0.096 cash & 1.6 ESR-Reit share (New value $0.53) |
Venture - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/03/17 | UOB Kay Hian | Venture | 9.88 | 11 | Buy | |
| 01/19/17 | DBS Vickers | Venture | 9.84 | 10.9 | Buy | |
| 01/20/17 | CIMB | Venture | 9.8 | 10.94 | Add | |
| 01/23/17 | Credit Suisse | Venture | 9.74 | 11.6 | Outperform | |
| 02/08/17 | UOB Kay Hian | Venture | 10.28 | 11 | Buy | |
| 02/10/17 | CIMB | Venture | 10.37 | 10.94 | Add | PER14.4x FY18 |
| 02/10/17 | Credit Suisse | Venture | 10.37 | 11.6 | Outperform | |
| 02/27/17 | CIMB | Venture | 10.32 | 11.5 | Add | PER14.4x CY18 |
| 02/27/17 | Credit Suisse | Venture | 10.32 | 11.9 | Outperform | |
| 02/27/17 | DBS Vickers | Venture | 10.32 | 11.37 | Buy | PER16x FY17 |
| 02/27/17 | DMG & Partners | Venture | 10.32 | 11.2 | Buy | DCF, PER16x FY17 |
| 02/27/17 | Kim Eng | Venture | 10.32 | 11.5 | Buy | PER15x FY17 |
| 02/27/17 | OCBC | Venture | 10.32 | 11 | Buy | |
| 02/27/17 | UOB Kay Hian | Venture | 10.32 | 12.4 | Buy | PER16x FY17 |
| 02/27/17 | Citibank | Venture | 10.32 | 11.43 | Buy | |
| 03/02/17 | UOB Kay Hian | Venture | 10.71 | 12.4 | Buy | |
| 05/02/17 | CIMB | Venture | 12.2 | 12.01 | Hold | PER14.4x FY18 |
| 05/02/17 | DMG & Partners | Venture | 12.2 | 14.1 | Buy | DCF, PER17x FY17 |
| 05/02/17 | Kim Eng | Venture | 12.2 | 13.35 | Buy | PER16x FY17 |
| 05/02/17 | Lim & Tan | Venture | 12.2 | 0 | Buy | |
| 05/02/17 | OCBC | Venture | 12.2 | 13 | Buy | DCF |
| 05/02/17 | UOB Kay Hian | Venture | 12.2 | 13.6 | Buy | PER16x FY17 |
| 05/02/17 | Citibank | Venture | 12.2 | 13.58 | Buy | |
| 05/03/17 | DBS Vickers | Venture | 12.9 | 14.3 | Buy | PER18.6x FY17/18 |
| 06/02/17 | UOB Kay Hian | Venture | 13 | 13.3 | Hold | PER16.2x FY17, Buy @ $12 |
| 07/05/17 | CIMB | Venture | 11.89 | 12.01 | Hold | PER14.4x FY18 |
| 07/05/17 | UOB Kay Hian | Venture | 11.89 | 13.3 | Hold | |
| 07/10/17 | OCBC | Venture | 11.8 | 13 | Buy | |
| 08/07/17 | UOB Kay Hian | Venture | 13.85 | 15.15 | Buy | PER16x FY18 |
| 08/07/17 | DMG & Partners | Venture | 13.85 | 14.7 | Buy | DCF, PER17x FY17 |
| 08/07/17 | OCBC | Venture | 13.85 | 14.8 | Buy | DCF |
| 08/07/17 | CIMB | Venture | 13.85 | 15.8 | Add | PER15.2x FY18 |
| 08/07/17 | Lim & Tan | Venture | 13.85 | 0 | Buy | |
| 08/07/17 | Citibank | Venture | 13.85 | 17.3 | Buy | |
| 08/08/17 | DBS Vickers | Venture | 14.89 | 16.6 | Buy | PER18.2x FY18 |
| 08/10/17 | Credit Suisse | Venture | 15.7 | 16.4 | Outperform | |
| 09/13/17 | Lim & Tan | Venture | 15.25 | 0 | Buy | |
| 09/15/17 | Credit Suisse | Venture | 16.2 | 20 | Outperform | |
| 09/26/17 | DMG & Partners | Venture | 17.29 | 19.7 | Buy | DCF, PER19x FY18 |
| 10/03/17 | CIMB | Venture | 18.06 | 20.87 | Add | PER17.3x FY18 |
| 10/06/17 | DBS Vickers | Venture | 18.6 | 21 | Buy | PER20x FY18/19 |
| 10/12/17 | OCBC | Venture | 18.55 | 20.33 | Buy | |
| 11/06/17 | UOB Kay Hian | Venture | 19.29 | 23.5 | Buy | PER18x FY18 |
| 11/06/17 | DMG & Partners | Venture | 19.29 | 24.1 | Buy | DCF, PER18x FY18 |
| 11/06/17 | OCBC | Venture | 19.29 | 23 | Buy | |
| 11/06/17 | CIMB | Venture | 19.29 | 24.74 | Add | PER17.3x FY19 |
| 11/06/17 | Lim & Tan | Venture | 19.29 | 0 | Buy | |
| 11/06/17 | DBS Vickers | Venture | 19.29 | 26 | Buy | PER19.5x FY18/19 |
| 11/06/17 | Credit Suisse | Venture | 19.29 | 22.1 | Outperform | |
| 11/06/17 | Citibank | Venture | 19.29 | 21.75 | Buy | |
| 12/06/17 | DBS Vickers | Venture | 20.54 | 26 | Buy | |
| 12/20/17 | CIMB | Venture | 20.2 | 24.74 | Add | |
| 01/05/18 | DBS Vickers | Venture | 21.97 | 26 | Buy | |
| 01/10/18 | Kim Eng | Venture | 21.57 | 27.5 | Buy | PER18.8x FY18 |
| 01/15/18 | UOB Kay Hian | Venture | 22.65 | 23.5 | Buy | |
| 01/19/18 | Lim & Tan | Venture | 23.15 | 0 | Buy | |
| 01/24/18 | DMG & Partners | Venture | 23.9 | 24.1 | Buy | |
| 01/24/18 | Credit Suisse | Venture | 23.9 | 27.2 | Outperform | |
| 02/07/18 | CIMB | Venture | 22.48 | 24.74 | Add | |
| 02/08/18 | CIMB | Venture | 22.29 | 29.13 | Add | |
| 02/13/18 | UOB Kay Hian | Venture | 21.92 | 23.5 | Buy | |
| 02/20/18 | DMG & Partners | Venture | 23.53 | 24.1 | Buy | |
| 02/23/18 | UOB Kay Hian | Venture | 25.03 | 31.88 | Buy | PER19x FY18 |
| 02/23/18 | Citibank | Venture | 25.03 | 31.74 | Buy | |
| 03/01/18 | OCBC | Venture | 27.56 | 34 | Buy | |
| 03/01/18 | UOB Kay Hian | Venture | 27.56 | 31.88 | Buy | PER19x FY18 |
| 03/01/18 | DMG & Partners | Venture | 27.56 | 30.5 | Buy | DCF, PER19x FY18 |
| 03/01/18 | Kim Eng | Venture | 27.56 | 31.2 | Buy | PB3.7x FY18 |
| 03/01/18 | CIMB | Venture | 27.56 | 30.81 | Add | PER17.7x FY19 |
| 03/01/18 | Lim & Tan | Venture | 27.56 | 0 | Buy | |
| 03/01/18 | DBS Vickers | Venture | 27.56 | 32.2 | Buy | PER19.5x FY18/19 |
| 03/05/18 | Credit Suisse | Venture | 26.84 | 32 | Outperform | |
| 04/03/18 | DBS Vickers | Venture | 28.14 | 32.2 | Buy | |
| 04/06/18 | CIMB | Venture | 27.73 | 30.81 | Add | PER17.7x FY19 |
| 04/20/18 | Lim & Tan | Venture | 28.82 | 0 | Hold | |
| 04/23/18 | UOB Kay Hian | Venture | 25.29 | 30.6 | Buy | PER19x FY18 |
| 04/26/18 | UOB Kay Hian | Venture | 22.57 | 25 | Buy | PER16.1x FY18 |
| 04/26/18 | Credit Suisse | Venture | 22.57 | 24 | Neutral | |
| 04/26/18 | OCBC | Venture | 22.57 | 30 | Buy | DCF |
| 04/26/18 | CIMB | Venture | 22.57 | 25.64 | Add | PER15.4x |
| 04/26/18 | Lim & Tan | Venture | 22.57 | 23.4 | Hold | PER16x FY18 |
| 04/26/18 | DMG & Partners | Venture | 22.57 | 26 | Buy | DCF, PER17.2x FY18 |
| 04/26/18 | Kim Eng | Venture | 22.57 | 28.83 | Buy | |
| 04/26/18 | DBS Vickers | Venture | 22.57 | 27.2 | Buy | PER17.5x FY18/19 |
| 05/08/18 | Lim & Tan | Venture | 20.65 | 0 | Buy on weakness | |
| 05/08/18 | Citibank | Venture | 20.65 | 31.74 | Buy | |
| 05/25/18 | CIMB | Venture | 20.55 | 25.64 | Add | |
| 06/06/18 | Kim Eng | Venture | 21.63 | 28.83 | Buy | PB3.4x |
| 06/11/18 | CIMB | Venture | 21.13 | 25.64 | Add | PER15.4x |
| 06/13/18 | Lim & Tan | Venture | 20.65 | 0 | Accumulate | |
| 07/03/18 | UOB Kay Hian | Venture | 17.66 | 25 | Buy | |
| 07/05/18 | UOB Kay Hian | Venture | 17.5 | 18.2 | Hold | PER14x FY18, Buy @ $14 |
| 07/12/18 | CIMB | Venture | 16.67 | 17.83 | Hold | PER12.3x |
| 07/19/18 | Credit Suisse | Venture | 16.89 | 14.5 | Underperform | PER11x |
| 08/06/18 | UOB Kay Hian | Venture | 16.85 | 18.2 | Hold | PER14x FY18, Buy @ $16 |
| 08/06/18 | DMG & Partners | Venture | 16.85 | 22.2 | Buy | PER15.5x FY18 |
| 08/06/18 | OCBC | Venture | 16.85 | 23.23 | Buy | PER15x |
| 08/06/18 | CIMB | Venture | 16.85 | 17.83 | Hold | PER12.3x |
| 08/06/18 | Lim & Tan | Venture | 16.85 | 0 | Buy | |
| 08/07/18 | DBS Vickers | Venture | 18.6 | 22.9 | Buy | PER15.8x FY18/19 |
Stock calls for 23 August 2018
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 08/23/18 | DMG & Partners | Capitaland | 3.34 | 4 | Buy | RNAV (20% discount) |
| 08/23/18 | NRA | Regal | 0.11 | 0.3 | Overweight | |
| 08/23/18 | phillip | SHS | 0.24 | 0.29 | Buy | |
| 08/23/18 | NRA | Uni-Asia | 1.38 | 1.99 | Overweight | PB0.5x |
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