Ascott Residence Trust (ART) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/01/25	UOB Kay Hian	ART	0.895	1.56	Buy	DDM
08/04/25	Kim Eng	ART	0.89	1.05	Buy	DDM
08/05/25	DBS Vickers	ART	0.905	1.15	Buy	DCF
08/28/25	Lim & Tan	ART	0.875	1.08	Accumulate
09/01/25	UOB Kay Hian	ART	0.885	1.56	Buy	DDM
10/29/25	DBS Vickers	ART	0.955	1.15	Buy	DCF
10/29/25	Lim & Tan	ART	0.955	1.06	Accumulate
10/30/25	UOB Kay Hian	ART	0.96	1.56	Buy	DDM
10/30/25	Phillip	ART	0.96	1.05	Buy	DDM
12/01/25	UOB Kay Hian	ART	0.945	1.56	Buy	DDM
12/08/25	DBS Vickers	ART	0.935	1.15	Buy	DCF
01/30/26	DBS Vickers	ART	0.965	1.15	Buy	DCF
01/30/26	Lim & Tan	ART	0.965	1.11	Accumulate
01/30/26	CIMB	ART	0.965	1.18	Add
02/02/26	Phillip	ART	0.98	1.08	Accumulate	DDM
02/03/26	UOB Kay Hian	ART	0.98	1.42	Buy	DDM
02/09/26	Kim Eng	ART	0.97	1.05	Buy	DDM
02/09/26	OCBC	ART	0.97	1.01	Buy
02/09/26	CIMB	ART	0.97	1.18	Add
02/09/26	DBS Vickers	ART	0.97	1.15	Buy
04/01/26	UOB Kay Hian	ART	0.88	1.42	Buy	DDM
04/27/26	OCBC	ART	0.905	0.95	Buy
04/28/26	Phillip	ART	0.9	1.08	Buy	DDM
04/28/26	Lim & Tan	ART	0.9	1.08	Accumulate
04/28/26	CIMB	ART	0.9	1.13	Add	DDM
05/29/26	OCBC	ART	0.895	0.95	Buy
05/29/26	Lim & Tan	ART	0.895	1.08	Accumulate
07/06/26	UOB Kay Hian	ART	0.895	1.42	Buy	DDM

ARA Hospitality (Acrophyte) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/29/26	Lim & Tan	ARA Hospitality (Acrophyte)	0.2	0	Accumulate

Stock calls for 10 July 2026

Date	Analyst	Company	Last	Target	Call	Valuation
07/10/26	Kim Eng	Centurion	1.48	1.69	Buy
07/10/26	CIMB	China Aviation Oil	1.77	2.68	add	Sum of parts
07/10/26	Lim & Tan	CNMC	1.17	1.9	Buy	PER
07/10/26	UOB Kay Hian	DBS	70.23	76.85	Buy	GGM, PB3.03x FY27
07/10/26	CIMB	Frencken	2.79	3.25	Add	PER
07/10/26	CIMB	Keppel Corp	10.89	13.52	Add	Sum of parts
07/10/26	Lim & Tan	Marco Polo	0.129	0.21	Buy
07/10/26	UOB Kay Hian	OCBC	27.32	31.6	Buy	GGM, PB2.12x FY27
07/10/26	Kim Eng	Singtel	4.39	5	Buy

APAC Realty - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/05/25	Lim & Tan	APAC Realty	0.565	0.66	Accumulate
08/11/25	DBS Vickers	APAC Realty	0.635	0.8	Buy	PER13x FY25/26
08/12/25	Lim & Tan	APAC Realty	0.705	0.8	Accumulate
09/01/25	Lim & Tan	APAC Realty	0.735	0.82	Accumulate	PER15.5x FY25/26
09/15/25	DMG & Partners	APAC Realty	0.88	0.8	Neutral
10/10/25	DBS Vickers	APAC Realty	0.695	0.8	Buy	PER13x FY25/26
02/24/26	DBS Vickers	APAC Realty	0.665	0.7	Hold	Sum of parts
02/24/26	Lim & Tan	APAC Realty	0.665	0	Accumulate on weakness
03/12/26	Lim & Tan	APAC Realty	0.58	0.66	Accumulate	PER15.5x FY26
03/17/26	Lim & Tan	APAC Realty	0.56	0.71	Accumulate
04/23/26	DMG & Partners	APAC Realty	0.61	0.7	Neutral
06/08/26	DMG & Partners	APAC Realty	0.55	0.7	Buy

Aoxin Q&M - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/08/26	UOB Kay Hian	Aoxin Q&M	0.26	0.36	Buy	PER52.5x FY27
07/09/26	UOB Kay Hian	Aoxin Q&M	0.23	0.36	Buy	PER52.5x FY27

Alpina - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/04/25	Lim & Tan	Alpina	0.31	0.38	Wait	Offer $0.38

Stock calls for 9 July 2026

Date	Analyst	Company	Last	Target	Call	Valuation
07/09/26	CIMB	A-Reit	2.49	3.12	Add	DDM
07/09/26	UOB Kay Hian	Aoxin Q&M	0.23	0.36	Buy	PER52.5x FY27
07/09/26	CIMB	Capitaland Integrated Commercial Trust	2.41	2.74	Add	DDM
07/09/26	Macquarie	DBS	69.1	70.86	Outperform
07/09/26	CIMB	Keppel DC Reit	2.21	2.64	Add	DDM
07/09/26	UOB Kay Hian	OCBC	26.79	30	Buy	GGM, PB1.9x FY27
07/09/26	Macquarie	OCBC	26.79	27.76	outperform
07/09/26	Lim & Tan	Skylink	0.215	0.58	Watchlist
07/09/26	Macquarie	UOB	43.33	45.16	Outperform

The Iran war situation report. - Part 83

Just as we were expecting Trump to wrap up the illegal Iran war, he had launched some strikes against Iran suddenly.

Thereafter, Iran retaliated by attacking Bahrain and Kuwait.

Then, Trump announced the US-Iran ceasefire was over after Iran's retaliation.

What's our take on the latest developments?

We believe that Trump is just manipulating the markets for his personal gains and he will do his TACO thing again in the future because he is running out of time.  If he really wants to win his mid-term election, he has to end the Iran and Ukraine wars or else he has nothing to boast about his political achievements.

AIMS AMP Cap Ind Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/05/25	Kim Eng	AIMS AMP Cap Ind Reit	1.36	1.25	Hold	DDM
08/06/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.35	1.52	Buy	DDM
10/30/25	DMG & Partners	AIMS AMP Cap Ind Reit	1.39	1.52	Buy	DDM
11/06/25	DBS Vickers	AIMS AMP Cap Ind Reit	1.39	1.6	Buy
11/10/25	Kim Eng	AIMS AMP Cap Ind Reit	1.41	1.44	Buy	DDM
02/05/26	DBS Vickers	AIMS AMP Cap Ind Reit	1.49	1.6	Buy	DCF
02/05/26	Lim & Tan	AIMS AMP Cap Ind Reit	1.49	1.52	Accumulate
02/05/26	Kim Eng	AIMS AMP Cap Ind Reit	1.54	1.65	Buy	DDM
04/23/26	DMG & Partners	AIMS AMP Cap Ind Reit	1.52	1.62	Buy	DDM
05/07/26	Lim & Tan	AIMS AMP Cap Ind Reit	1.52	1.65	Accumulate on weakness
05/08/26	DBS Vickers	AIMS AMP Cap Ind Reit	1.58	1.66	Buy	DCF
05/08/26	Kim Eng	AIMS AMP Cap Ind Reit	1.58	1.68	Buy	DDM
05/12/26	DMG & Partners	AIMS AMP Cap Ind Reit	1.56	1.7	Buy	DDM

AEM - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/05/25	UOB Kay Hian	AEM	1.62	1.09	Sell	PER15x FY25
08/14/25	DBS Vickers	AEM	1.53	2.1	Buy	PER25x FY26
08/21/25	CIMB	AEM	1.41	1.44	Hold	PER
08/29/25	UOB Kay Hian	AEM	1.52	1.25	Sell	PER19x FY26
09/19/25	DBS Vickers	AEM	1.57	2.1	Buy	PER25x FY26
09/23/25	Amfrasers	AEM	1.92	2	Buy
10/06/25	DBS Vickers	AEM	2.04	2.1	Buy	PER25x FY26
11/13/25	DBS Vickers	AEM	1.8	2.1	Buy	PER25x FY26
11/14/25	UOB Kay Hian	AEM	1.83	1.51	Sell	PER23x FY26
11/19/25	Lim & Tan	AEM	1.73	1.6	Sell
11/19/25	Kim Eng	AEM	1.73	1.49	Sell
02/10/26	DBS Vickers	AEM	1.9	2.1	Buy	PER25x FY26
02/27/26	UOB Kay Hian	AEM	2.47	2.65	Buy	PER25x FY26
02/27/26	DBS Vickers	AEM	2.47	3.3	Buy	PER30x FY26
02/27/26	CIMB	AEM	2.47	3.14	Add	PER
02/27/26	Kim Eng	AEM	2.47	2.84	Buy
03/05/26	DBS Vickers	AEM	3.05	3.3	Buy	PER30x FY26
03/20/26	DBS Vickers	AEM	3.78	4.6	Buy	PER32x FY27
03/24/26	UOB Kay Hian	AEM	3.96	4.7	Buy	PER33x FY27
04/02/26	DBS Vickers	AEM	4.32	4.6	Buy	PER32x FY27
04/27/26	CIMB	AEM	6.06	10.15	Add	PER
04/29/26	DBS Vickers	AEM	7.15	8.9	Buy	PER42x FY27
05/05/26	CIMB	AEM	7.42	10.15	Add	PER41x
05/14/26	DBS Vickers	AEM	8.35	11.8	Buy	PER42x FY27
05/14/26	Kim Eng	AEM	8.35	11.48	Buy	PER
05/15/26	UOB Kay Hian	AEM	9.91	12.99	Buy	PER40x FY27
05/15/26	CIMB	AEM	9.91	14.79	Add	PER43x FY27