Sunningdale - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/11/19	Lim & Tan	Sunningdale	1.39	0	Hold
05/07/19	Lim & Tan	Sunningdale	1.35	0	Hold
05/09/19	UOB Kay Hian	Sunningdale	1.32	1.22	Hold	PER11x FY20, Buy @ $1.10
05/09/19	CIMB	Sunningdale	1.32	1.38	Hold	PB0.69x FY19
08/07/19	UOB Kay Hian	Sunningdale	1.28	1.01	Sell
11/08/19	UOB Kay Hian	Sunningdale	1.27	1.13	Hold	PER12.3x FY20, Buy @ $1.05
12/13/19	Lim & Tan	Sunningdale	1.28	0	Buy
12/13/19	CIMB	Sunningdale	1.28	1.14	Reduce
03/02/20	UOB Kay Hian	Sunningdale	1.21	1.06	Hold	Buy @ $1
03/04/20	CIMB	Sunningdale	1.2	1.1	Hold
03/20/20	Lim & Tan	Sunningdale	0.82	0	Buy
04/09/20	CIMB	Sunningdale	0.875	1.09	Add
05/08/20	UOB Kay Hian	Sunningdale	0.98	1.02	Hold	PB0.54x FY20, Buy @ $0.90
05/08/20	CIMB	Sunningdale	0.98	0.917	Hold
05/11/20	Lim & Tan	Sunningdale	1	0	Hold

Stock calls for 17 June 2020

Date	Analyst	Company	Last	Target	Call	Valuation
06/17/20	UOB Kay Hian	Riverstone	2.37	3.15	Buy	PER23.1x FY20

Singapore's May export resumes its decline again.

https://sg.finance.yahoo.com/news/singapore-exports-drop-may-three-003000238.html

Year on year changes (YOY):

May 2020: -4.5%

April 2020: 9.7%

March 2020: 17.6%

February 2020: 3% (Revised to 3.1%)

January 2020: - 3.3%

December 2019: 2.4%

November 2019: - 5.9%

October 2019: - 12.3%

September 2019: -8.1%

August 2019: - 8.9%

July 2019: -11.2%

June 2019: -17.3%

May 2019: -15.9%

April 2019: -10%

March 2019: -11.7%

February 2019: 4.9%

January 2019: -10.1%

December 2018: -8.5%

November 2018: -2.6%

October 2018: 8.3%

September 2018: 8.3%

August 2018: 5%

July 2018: 11.8% (Corrected)

June 2018: 1.1%

May 2018: 15.5%

April 2018: 11.8%

March 2018: -2.7%

February 2018: -5.9%

January 2018: 13%

December 2017: 3.1%

November 2017: 9.1%

October 2017: 20.9%

September 2017: -1.1%

August 2017: 16.7%

July 2017: 8.5%

June 2017: 8.2%
May 2017: -1.2%
Apr 2017: -0.7%
Mar 2017: 16.5%
Feb 2017: 21.1%
Jan 2017: 8.6%

Starhub - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/01/19	Kim Eng	Starhub	1.49	2.18	Buy
05/06/19	Phillip	Starhub	1.58	1.62	Neutral
05/06/19	UOB Kay Hian	Starhub	1.58	1.45	Sell	DCF
05/06/19	CIMB	Starhub	1.58	1.65	Hold	DCF (10% discount)
05/06/19	DMG & Partners	Starhub	1.58	1.72	Neutral	DCF
05/06/19	OCBC	Starhub	1.58	1.64	Hold
05/06/19	Kim Eng	Starhub	1.58	2	buy	DCF
06/03/19	Phillip	Starhub	1.49	1.62	Accumlate	EV/Ebitda6x FY19
06/06/19	DMG & Partners	Starhub	1.49	1.72	Neutral
07/17/19	UOB Kay Hian	Starhub	1.54	1.45	Sell	DCF
08/07/19	Phillip	Starhub	1.48	1.58	Accumlate	EV/Ebitda6x
08/07/19	DMG & Partners	Starhub	1.48	1.52	Neutral	DCF
08/07/19	OCBC	Starhub	1.48	1.52	Hold
08/07/19	UOB Kay Hian	Starhub	1.48	1.45	Sell
08/07/19	DBS Vickers	Starhub	1.48	1.55	Hold	EV/Ebitda 6.6x FY19
08/13/19	CIMB	Starhub	1.45	1.65	Hold	DCF
08/13/19	Citibank	Starhub	1.45	1.22	Sell
10/18/19	DBS Vickers	Starhub	1.28	1.55	Hold
10/24/19	DBS Vickers	Starhub	1.32	1.3	Hold	EV/Ebitda6x FY20
10/24/19	CIMB	Starhub	1.32	1.65	Hold
10/24/19	Kim Eng	Starhub	1.32	2	Buy
11/06/19	CIMB	Starhub	1.32	1.65	Add	DCF
11/06/19	Kim Eng	Starhub	1.32	2	Buy	DCF
11/06/19	DMG & Partners	Starhub	1.32	1.44	Neutral	DCF
11/06/19	UOB Kay Hian	Starhub	1.32	1.45	Hold	EV/Ebitda5.4x, Buy @ $1.25
11/07/19	Phillip	Starhub	1.43	1.58	Accumlate	EV/Ebitda6x
11/07/19	OCBC	Starhub	1.43	1.32	Hold
11/07/19	DBS Vickers	Starhub	1.43	1.43	Buy	EV/Ebitda6x
01/03/20	DBS Vickers	Starhub	1.42	1.43	Buy	EV/Ebitda6x
01/14/20	DMG & Partners	Starhub	1.46	1.44	Neutral
01/21/20	UOB Kay Hian	Starhub	1.48	1.45	Hold	DCF, Buy @ $1.25
01/24/20	DBS Vickers	Starhub	1.49	1.72	Buy	DCF
01/24/20	Citibank	Starhub	1.49	1.22	Sell
02/21/20	UOB Kay Hian	Starhub	1.5	1.45	Hold	Buy @ $1.25
02/21/20	DMG & Partners	Starhub	1.5	1.63	Neutral	DCF
02/21/20	DBS Vickers	Starhub	1.5	1.72	Buy
02/21/20	CIMB	Starhub	1.5	1.8	Add	DCF
02/24/20	Phillip	Starhub	1.52	1.7	Accumlate	EV/Ebitda6.5x FY20
02/24/20	OCBC	Starhub	1.52	1.53	Hold
03/13/20	CIMB	Starhub	1.43	1.8	Add	DCF, EV/Ebitda7x FY20
03/13/20	DBS Vickers	Starhub	1.43	1.72	Buy	DCF
03/26/20	DBS Vickers	Starhub	1.27	1.4	Buy	DCF
04/30/20	DBS Vickers	Starhub	1.45	1.75	Buy	DCF
04/30/20	DMG & Partners	Starhub	1.45	1.63	Neutral
05/08/20	Phillip	Starhub	1.49	1.45	Neutral	EV/Ebitda 6x FY20
05/08/20	DMG & Partners	Starhub	1.49	1.51	Neutral	DCF
05/08/20	UOB Kay Hian	Starhub	1.49	1.4	Hold	Buy @ $1.20
05/08/20	DBS Vickers	Starhub	1.49	1.75	Buy	DCF
05/08/20	Lim & Tan	Starhub	1.49	0	Take Profit
05/08/20	OCBC	Starhub	1.49	1.39	Hold
05/08/20	CIMB	Starhub	1.49	1.7	Add	DCF

Starhill - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/29/19	OCBC	Starhill	0.75	0.8	Buy
04/29/19	DMG & Partners	Starhill	0.75	0.78	Buy	DDM
04/29/19	DBS Vickers	Starhill	0.75	0.8	Buy
04/29/19	CIMB	Starhill	0.75	0.77	Add
04/29/19	Kim Eng	Starhill	0.75	0.7	Hold
04/30/19	UOB Kay Hian	Starhill	0.755	0.9	Buy	DDM
05/07/19	DMG & Partners	Starhill	0.74	0.78	Buy	DDM
06/06/19	DMG & Partners	Starhill	0.735	0.78	Buy
06/17/19	OCBC	Starhill	0.755	0.8	Buy
07/04/19	DMG & Partners	Starhill	0.78	0.78	Buy
07/31/19	CIMB	Starhill	0.8	0.79	Hold
08/02/19	DMG & Partners	Starhill	0.78	0.78	Neutral	DDM
08/06/19	OCBC	Starhill	0.775	0.81	Buy
10/07/19	CIMB	Starhill	0.74	0.75	Hold	DDM
12/10/19	DMG & Partners	Starhill	0.725	0.8	Neutral
01/30/20	DMG & Partners	Starhill	0.71	0.76	Neutral	DDM
02/04/20	DBS Vickers	Starhill	0.715	0.8	Buy	DCF
04/02/20	DBS Vickers	Starhill	0.41	0.45	Hold
04/15/20	CIMB	Starhill	0.485	0.71	Buy
04/23/20	DMG & Partners	Starhill	0.49	0.76	Buy
05/05/20	Lim & Tan	Starhill	0.48	0	Hold
05/29/20	DBS Vickers	Starhill	0.46	0.5	Hold
06/03/20	DMG & Partners	Starhill	0.535	0.63	Buy	DDM

ST Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/15/19	Kim Eng	ST Engineering	3.82	4.25	Buy
04/25/19	UOB Kay Hian	ST Engineering	3.9	4.7	Buy	EV/Invested capital basis
04/25/19	DMG & Partners	ST Engineering	3.9	4.1	Buy
04/25/19	Kim Eng	ST Engineering	3.9	4.3	Buy	DCF
04/26/19	DBS Vickers	ST Engineering	3.89	4.15	Buy
05/13/19	UOB Kay Hian	ST Engineering	4.02	4.7	Buy
05/16/19	OCBC	ST Engineering	3.9	4.22	Buy
05/16/19	DBS Vickers	ST Engineering	3.9	4.5	Buy	Sum of parts
05/16/19	CIMB	ST Engineering	3.9	4.43	Add	PER22x FY20
05/22/19	DMG & Partners	ST Engineering	3.96	4.45	Buy	DCF & PER20.5x FY20 & PB5.5x FY20 & EV/Ebitda11x FY20
06/06/19	DMG & Partners	ST Engineering	4	4.45	Buy
06/06/19	DBS Vickers	ST Engineering	4	4.5	Buy
06/13/19	OCBC	ST Engineering	4.09	4.38	Buy
06/13/19	UOB Kay Hian	ST Engineering	4.09	4.7	Buy
07/05/19	DMG & Partners	ST Engineering	4.24	4.45	Buy	PER20.5x FY20 & PB5.5x FY20 & EV/Ebitda11x FY20 & DCF
07/15/19	UOB Kay Hian	ST Engineering	4.29	4.7	Buy
08/15/19	UOB Kay Hian	ST Engineering	4.22	4.36	Hold
08/15/19	DMG & Partners	ST Engineering	4.22	4.7	Buy	Sum of parts
08/15/19	OCBC	ST Engineering	4.22	4.64	Buy	DCF
08/16/19	CIMB	ST Engineering	4.07	4.36	Add	Sum of parts
08/16/19	DBS Vickers	ST Engineering	4.07	4.64	Buy	Sum of parts
08/16/19	Lim & Tan	ST Engineering	4.07	0	Hold
09/11/19	DMG & Partners	ST Engineering	3.9	4.7	Buy
09/18/19	UOB Kay Hian	ST Engineering	3.9	4.34	Buy
09/20/19	Kim Eng	ST Engineering	3.92	4.3	Hold
10/01/19	DBS Vickers	ST Engineering	3.84	4.64	Buy
10/02/19	DMG & Partners	ST Engineering	3.85	4.7	Buy	Sum of parts
10/08/19	Kim Eng	ST Engineering	3.91	4.5	Buy	DCF
10/09/19	UOB Kay Hian	ST Engineering	3.92	4.34	Buy
10/14/19	CIMB	ST Engineering	4.02	4.36	Add
11/11/19	DMG & Partners	ST Engineering	4.12	4.7	Buy	Sum of parts
11/12/19	DBS Vickers	ST Engineering	4	4.64	Buy
11/12/19	CIMB	ST Engineering	4	4.47	Add
11/12/19	Kim Eng	ST Engineering	4	4.5	Buy
11/12/19	OCBC	ST Engineering	4	4.64	Buy
11/12/19	DMG & Partners	ST Engineering	4	4.55	Buy	Sum of parts
11/12/19	UOB Kay Hian	ST Engineering	4	4.32	Buy
12/19/19	DMG & Partners	ST Engineering	3.9	4.55	Buy
01/08/20	DMG & Partners	ST Engineering	4.02	4.55	Buy	PER22x FY20 & PB5.8x & EV/Ebitda11x
02/19/20	Macquarie	ST Engineering	4.3	5	outperform
02/24/20	Lim & Tan	ST Engineering	4.24	0	Hold
02/25/20	DMG & Partners	ST Engineering	4.2	4.9	Buy	Sum of parts
02/25/20	UOB Kay Hian	ST Engineering	4.2	4.46	Buy
02/25/20	DBS Vickers	ST Engineering	4.2	4.6	Buy
02/25/20	CIMB	ST Engineering	4.2	4.66	Add
03/05/20	Macquarie	ST Engineering	4.36	5	outperform
03/17/20	DMG & Partners	ST Engineering	3.36	4.9	Buy	Sum of parts
04/07/20	DMG & Partners	ST Engineering	3.03	4.9	Buy
04/17/20	DMG & Partners	ST Engineering	3.44	4.65	Buy	Sum of parts
04/22/20	UOB Kay Hian	ST Engineering	3.33	3.6	Hold	EV/Invested capital basis, Buy @ $3.10
04/22/20	CIMB	ST Engineering	3.33	3.86	Add	Sum of parts
04/28/20	DMG & Partners	ST Engineering	3.24	4.15	Buy	Sum of parts
05/18/20	DMG & Partners	ST Engineering	3.27	3.9	Buy	Sum of parts
05/18/20	UOB Kay Hian	ST Engineering	3.27	3.5	Hold	Buy @ $3-3.10
05/18/20	DBS Vickers	ST Engineering	3.27	3.4	Hold	Sum of parts

Stock calls for 16 June 2020

Date	Analyst	Company	Last	Target	Call	Valuation
06/16/20	DBS Vickers	ARA Logistics	0.525	0.7	Buy	DCF
06/16/20	DMG & Partners	Fu Yu	0.23	0.28	Buy	DCF
06/16/20	DMG & Partners	Japan Foods	0.33	0.35	Neutral
06/16/20	DMG & Partners	Jumbo	0.29	0.19	Sell
06/16/20	DMG & Partners	Kimly	0.22	0.24	Neutral
06/16/20	CIMB	Perennial Reit	0.94	0.994	Accept offer	Offer $0.95
06/16/20	DBS Vickers	Tuan Sing	0.235	0.38	Buy	Sum of parts

SPH Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/08/19	Kim Eng	SPH Reit	1.06	1.05	Hold	DDM
04/08/19	CIMB	SPH Reit	1.06	1.08	Hold	DDM
04/08/19	OCBC	SPH Reit	1.06	1	Hold
04/08/19	DBS Vickers	SPH Reit	1.06	1.15	Buy	DCF
07/12/19	CIMB	SPH Reit	1.12	1.11	Hold	DDM
07/12/19	Lim & Tan	SPH Reit	1.12	0	Hold
07/15/19	OCBC	SPH Reit	1.1	1.05	Hold
07/16/19	Kim Eng	SPH Reit	1.1	1.05	Hold	DDM
07/17/19	DBS Vickers	SPH Reit	1.11	1.2	Buy	DCF
10/11/19	CIMB	SPH Reit	1.11	1.09	Hold	DDM
10/11/19	DBS Vickers	SPH Reit	1.11	1.25	Buy	DCF
10/11/19	Kim Eng	SPH Reit	1.11	1.1	Hold	DDM
10/14/19	OCBC	SPH Reit	1.13	1.05	Hold
10/15/19	OCBC	SPH Reit	1.15	1.1	Hold
11/08/19	DBS Vickers	SPH Reit	1.14	1.25	Buy
11/08/19	CIMB	SPH Reit	1.14	1.16	Hold	DDM
01/13/20	Kim Eng	SPH Reit	1.08	1.15	Buy	DDM
01/13/20	OCBC	SPH Reit	1.08	1.13	Hold
01/13/20	Lim & Tan	SPH Reit	1.08	0	Buy on weakness
01/13/20	CIMB	SPH Reit	1.08	1.16	Add
01/13/20	DBS Vickers	SPH Reit	1.08	1.2	Buy
03/17/20	Kim Eng	SPH Reit	0.87	1.15	Buy
04/02/20	DBS Vickers	SPH Reit	0.75	0.7	Fully Valued
04/02/20	Kim Eng	SPH Reit	0.75	0.8	Hold	DDM
04/02/20	CIMB	SPH Reit	0.75	1.12	Add
05/29/20	DBS Vickers	SPH Reit	0.825	0.8	Hold
06/03/20	DBS Vickers	SPH Reit	0.88	0.8	Hold

SPH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/03/19	UOB Kay Hian	SPH	2.43	2.82	Buy
04/10/19	Lim & Tan	SPH	2.53	0	Hold
04/10/19	CIMB	SPH	2.53	2.64	Hold	Sum of parts
04/18/19	UOB Kay Hian	SPH	2.46	2.86	Buy	Sum of parts
04/18/19	OCBC	SPH	2.46	2.55	Hold
05/13/19	UOB Kay Hian	SPH	2.39	2.86	Buy
06/06/19	UOB Kay Hian	SPH	2.31	2.86	Buy	Sum of parts
07/15/19	UOB Kay Hian	SPH	2.49	2.33	Hold	Sum of parts, Buy @ $2.10
07/16/19	CIMB	SPH	2.32	2.22	Hold	Sum of parts
07/16/19	DBS Vickers	SPH	2.32	2.22	Hold	Sum of parts
09/10/19	Lim & Tan	SPH	1.99	0	Hold
10/21/19	UOB Kay Hian	SPH	2.15	2.25	Hold	Sum of parts, Buy @ $2
10/21/19	DBS Vickers	SPH	2.15	2.19	Hold	Sum of parts
12/23/19	Lim & Tan	SPH	2.16	0	Hold
01/06/20	UOB Kay Hian	SPH	2.15	2.3	Hold	Sum of parts, Buy @ $2
01/14/20	UOB Kay Hian	SPH	2.18	2.22	Hold	Sum of parts, Buy @ $2
01/14/20	CIMB	SPH	2.18	2.11	Hold	Sum of parts
01/14/20	DBS Vickers	SPH	2.18	2.12	Hold
01/15/20	Lim & Tan	SPH	2.14	0	Hold
01/15/20	OCBC	SPH	2.14	2.28	Hold
03/06/20	UOB Kay Hian	SPH	1.88	2.22	Hold
03/09/20	UOB Kay Hian	SPH	1.89	2.25	Buy	Sum of parts
03/19/20	Lim & Tan	SPH	1.83	0	Hold
03/26/20	UOB Kay Hian	SPH	1.74	2.04	Buy
04/02/20	UOB Kay Hian	SPH	1.78	1.61	Hold	Sum of parts, Buy @ $1.40
04/08/20	CIMB	SPH	1.6	1.57	Hold	Sum of parts
04/08/20	Lim & Tan	SPH	1.6	0	Sell
04/08/20	DBS Vickers	SPH	1.6	1.56	Hold	Sum of parts
04/09/20	UOB Kay Hian	SPH	1.53	1.39	Hold	Sum of parts, Buy @ $1.20
04/28/20	UOB Kay Hian	SPH	1.49	1.5	Hold	Buy @ $1.3
05/21/20	UOB Kay Hian	SPH	1.5	1.52	Hold	Sum of parts, Buy @ $1.30
05/21/20	Lim & Tan	SPH	1.5	0	Hold
05/22/20	DBS Vickers	SPH	1.56	1.57	Hold