Sheng Siong - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/19	DMG & Partners	Sheng Siong	1.04	1.25	Buy
04/16/19	Kim Eng	Sheng Siong	1.06	0.95	Sell	DCF
04/29/19	UOB Kay Hian	Sheng Siong	1.04	1.11	Hold	Buy @ $1
04/29/19	DBS Vickers	Sheng Siong	1.04	1.25	Buy	PER5x FY19
04/30/19	DMG & Partners	Sheng Siong	1.04	1.23	Buy	DCF & PER21x
04/30/19	CIMB	Sheng Siong	1.04	1.1	Hold	PER20.5x CY20
04/30/19	Amfrasers	Sheng Siong	1.04	1.24	Buy	DCF
04/30/19	OCBC	Sheng Siong	1.04	1.19	Buy
05/02/19	phillip	Sheng Siong	1.03	1.3	Buy	PER25x
06/06/19	DMG & Partners	Sheng Siong	1.1	1.23	Buy
06/06/19	DBS Vickers	Sheng Siong	1.1	1.25	Buy
06/14/19	Kim Eng	Sheng Siong	1.09	0.95	Sell	DCF
07/02/19	DMG & Partners	Sheng Siong	1.1	1.23	Buy
07/15/19	phillip	Sheng Siong	1.1	1.3	Buy	PER25x
07/16/19	Kim Eng	Sheng Siong	1.09	0.95	Sell	DCF
07/30/19	DMG & Partners	Sheng Siong	1.11	1.32	Buy	DCF
07/30/19	DBS Vickers	Sheng Siong	1.11	1.32	Buy	PER25x FY20
07/31/19	Kim Eng	Sheng Siong	1.15	0.96	Sell	DCF
07/31/19	OCBC	Sheng Siong	1.15	1.19	Buy
07/31/19	CIMB	Sheng Siong	1.15	1.25	Add
08/01/19	phillip	Sheng Siong	1.16	1.3	Accumulate	PER25x FY19
08/06/19	Amfrasers	Sheng Siong	1.16	1.27	Outperform
08/13/19	Kim Eng	Sheng Siong	1.18	0.96	Sell	DCF
08/23/19	DMG & Partners	Sheng Siong	1.16	1.32	Buy
09/11/19	DMG & Partners	Sheng Siong	1.2	1.32	Buy
10/01/19	DBS Vickers	Sheng Siong	1.11	1.32	Buy	PER25x FY20
10/02/19	DMG & Partners	Sheng Siong	1.13	1.32	Buy	DCF
10/11/19	phillip	Sheng Siong	1.16	1.3	Accumulate
10/14/19	Kim Eng	Sheng Siong	1.15	0.96	Sell	DCF
11/01/19	UOB Kay Hian	Sheng Siong	1.17	1.27	Hold	Buy @ $1.14
11/01/19	DMG & Partners	Sheng Siong	1.17	1.32	Buy
11/01/19	Kim Eng	Sheng Siong	1.17	1	Sell	DCF
11/01/19	DBS Vickers	Sheng Siong	1.17	1.32	Buy
11/04/19	phillip	Sheng Siong	1.18	1.32	Accumulate	PER25x
11/04/19	Amfrasers	Sheng Siong	1.18	1.35	Outperform
11/04/19	CIMB	Sheng Siong	1.18	1.3	Add	PER22.5x CY20
11/04/19	OCBC	Sheng Siong	1.18	1.21	Hold
12/10/19	DMG & Partners	Sheng Siong	1.24	1.39	Buy	DCF
01/06/20	DBS Vickers	Sheng Siong	1.3	1.32	Buy
01/08/20	DMG & Partners	Sheng Siong	1.26	1.39	Buy
01/13/20	UOB Kay Hian	Sheng Siong	1.27	1.29	Hold	Buy @ $1.19
01/23/20	DBS Vickers	Sheng Siong	1.26	1.41	Buy	PER25x FY20
02/19/20	CIMB	Sheng Siong	1.29	1.46	Add	PER24x
02/24/20	phillip	Sheng Siong	1.29	1.41	Accumulate	PER25x FY20
02/24/20	DMG & Partners	Sheng Siong	1.29	1.42	Buy	DCF & PER22x
02/24/20	DBS Vickers	Sheng Siong	1.29	1.45	Buy	PER25x FY20
02/25/20	OCBC	Sheng Siong	1.29	1.45	Buy
03/10/20	Amfrasers	Sheng Siong	1.21	1.4	Outperform
03/18/20	DMG & Partners	Sheng Siong	1.05	1.42	Buy	DCF
04/06/20	DBS Vickers	Sheng Siong	1.22	1.45	Buy
04/06/20	CIMB	Sheng Siong	1.22	1.42	Add
04/09/20	DMG & Partners	Sheng Siong	1.31	1.42	Buy	DCF
04/15/20	DBS Vickers	Sheng Siong	1.35	1.5	Buy
04/22/20	DBS Vickers	Sheng Siong	1.45	1.56	Buy
04/29/20	DMG & Partners	Sheng Siong	1.46	1.63	Buy	DCF
04/29/20	DBS Vickers	Sheng Siong	1.46	1.58	Buy	PER25x FY20
04/29/20	Lim & Tan	Sheng Siong	1.46	0	Hold
04/30/20	phillip	Sheng Siong	1.49	1.58	Accumlate	PER25x
04/30/20	UOB Kay Hian	Sheng Siong	1.49	1.5	Hold	Buy @ $1.35
04/30/20	OCBC	Sheng Siong	1.49	1.64	Buy
05/01/20	Amfrasers	Sheng Siong	1.49	1.46	Neutral
05/19/20	DBS Vickers	Sheng Siong	1.56	1.66	Buy	PER25x FY21
05/29/20	DMG & Partners	Sheng Siong	1.52	1.72	Buy	DCF
06/08/20	DMG & Partners	Sheng Siong	1.56	1.72	Buy	DCF

Shangri-La Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/26/19	OCBC	Shangri-La Asia	8.3	13.9	Buy

Stock calls for 10 June 2020

Date	Analyst	Company	Last	Target	Call	Valuation
06/10/20	CIMB	Dairy Farm	5	5.45	Hold	PER20x CY21
06/10/20	Lim & Tan	DBS	22.95	0	Hold
06/10/20	UOB Kay Hian	Penguin	0.52	0.6	Buy
06/10/20	Kim Eng	Top Glove	5.7	6.52	Buy	Ringgit target $20, PER23x CY21
06/10/20	CIMB	Top Glove	5.7	8.14	Add	Ringgit target $25, PER22x CY21

SGX - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/19	DMG & Partners	SGX	7.42	8.1	Buy	PER23x FY20
04/05/19	Credit Suisse	SGX	7.42	6.8	Underperform
04/26/19	OCBC	SGX	7.26	7.6	Hold	PER21x FY20
04/26/19	DBS Vickers	SGX	7.26	7.05	Hold	DDM, PER20x FY20
04/26/19	Kim Eng	SGX	7.26	8.79	Buy	PER23x FY19
04/29/19	phillip	SGX	7.4	8.09	Accumulate	PER21.4x
04/29/19	CIMB	SGX	7.4	7.9	Add	PER22.1x FY20
06/28/19	DBS Vickers	SGX	7.95	7.05	Hold	DDM, PER20x FY20
07/15/19	phillip	SGX	7.99	8.09	Accumulate	PER21.4x
07/15/19	Credit Suisse	SGX	7.99	7.1	Underperform
07/15/19	Citi Research	SGX	7.99	7.23	Sell
08/01/19	DMG & Partners	SGX	7.92	8.1	Neutral	PER23x FY20
08/01/19	DBS Vickers	SGX	7.92	8.3	Buy	DDM
08/02/19	phillip	SGX	7.78	8.09	Accumulate	PER21x
08/05/19	CIMB	SGX	7.98	8.1	Hold	PER21.5x
08/05/19	Jefferies	SGX	7.98	9	Buy
10/02/19	phillip	SGX	8.5	8.6	Accumulate	PER22x
10/02/19	Jefferies	SGX	8.5	9	Hold
10/02/19	Citi Research	SGX	8.5	8	Sell
10/02/19	OCBC	SGX	8.5	7.6	Hold
10/09/19	DMG & Partners	SGX	8.4	8.1	Neutral	PER23x FY20
10/09/19	Credit Suisse	SGX	8.4	7.2	Underperform
10/25/19	DMG & Partners	SGX	8.28	8.3	Neutral	PER23x FY20
10/25/19	CIMB	SGX	8.28	9	Add	PER22.4x FY20
10/25/19	OCBC	SGX	8.28	8.6	Hold	PER22x FY20
10/25/19	DBS Vickers	SGX	8.28	8.9	Buy	DDM, PER21x FY20
11/25/19	phillip	SGX	8.97	8.6	Neutral	PER22x
11/25/19	Credit Suisse	SGX	8.97	7.7	Underperform
11/25/19	Citi Research	SGX	8.97	8.75	Hold
01/02/20	DMG & Partners	SGX	8.86	8.8	Neutral	PER23x FY21
01/24/20	DBS Vickers	SGX	8.82	9.6	Buy	DDM, PER21x FY21
01/31/20	phillip	SGX	8.7	8.52	Neutral	PER21.5x
02/19/20	Macquarie	SGX	9.15	10	Outperform
02/19/20	Jefferies	SGX	9.15	9.2	Hold
03/05/20	Macquarie	SGX	9.05	10	Outperform
03/05/20	CIMB	SGX	9.05	9.4	Add
03/05/20	Citi Research	SGX	9.05	9.6	Buy
03/13/20	Credit Suisse	SGX	8.69	8.7	Neutral
04/07/20	DMG & Partners	SGX	9.33	9.1	Neutral	PER23x FY21
04/07/20	Citi Research	SGX	9.33	10.8	Buy
04/07/20	CIMB	SGX	9.33	10.5	Add
04/07/20	Jefferies	SGX	9.33	9.3	Hold
04/24/20	Citi Research	SGX	10.16	10	Hold
04/24/20	DMG & Partners	SGX	10.16	9.7	Neutral	PER24x FY21
04/24/20	Lim & Tan	SGX	10.16	0	Sell
04/27/20	phillip	SGX	9.64	9.28	Neutral	PER21.4x
04/27/20	DBS Vickers	SGX	9.64	10	Hold	DDM
04/27/20	OCBC	SGX	9.64	9.3	Hold	PER23.3x FY21
04/27/20	Jefferies	SGX	9.64	9.1	Hold
05/28/20	Macquarie	SGX	8.75	11	Outperform
05/28/20	DMG & Partners	SGX	8.75	8.6	Hold	PER24x FY21
05/28/20	DBS Vickers	SGX	8.75	7.4	Fully Valued	DDM
05/28/20	CIMB	SGX	8.75	8	Reduce
05/28/20	OCBC	SGX	8.75	8	Sell	PER21.6x FY21
05/28/20	Jefferies	SGX	8.75	8.5	Hold	PER23.5x
05/28/20	Lim & Tan	SGX	8.75	0	Buy on weakness

Sembcorp Marine - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/09/19	Amfrasers	Sembcorp Marine	1.7	2.48	Buy
04/09/19	DBS Vickers	Sembcorp Marine	1.7	2.4	Buy
05/03/19	CIMB	Sembcorp Marine	1.69	2.21	Add	PB2x
05/06/19	phillip	Sembcorp Marine	1.67	1.76	Neutral	PB1.6x
05/06/19	OCBC	Sembcorp Marine	1.67	1.77	Hold
05/06/19	Amfrasers	Sembcorp Marine	1.67	2.48	Buy
05/06/19	DBS Vickers	Sembcorp Marine	1.67	2.4	Buy	PB2.1x FY19
05/30/19	OCBC	Sembcorp Marine	1.45	1.6	Hold	PB1.45x
06/04/19	DMG & Partners	Sembcorp Marine	1.39	1.99	Buy	PB1.8x FY20
07/03/19	CIMB	Sembcorp Marine	1.54	1.75	Add	PB1.6x CY19
07/03/19	OCBC	Sembcorp Marine	1.54	1.6	Hold
07/04/19	Macquarie	Sembcorp Marine	1.41	1.57	Neutral
07/04/19	DBS Vickers	Sembcorp Marine	1.41	2.4	Buy
07/31/19	DBS Vickers	Sembcorp Marine	1.36	1.9	Buy	PB1.8x FY19
07/31/19	Amfrasers	Sembcorp Marine	1.36	1.59	Neutral	PB1.6x FY19
07/31/19	DMG & Partners	Sembcorp Marine	1.36	1.8	Buy	PB1.64x FY20
07/31/19	CIMB	Sembcorp Marine	1.36	1.16	Reduce	PB1.1x
07/31/19	UOB Kay Hian	Sembcorp Marine	1.36	1.32	Hold	DCF, Buy @ $1.25
08/06/19	Macquarie	Sembcorp Marine	1.28	1.4	Neutral	PB
09/03/19	UOB Kay Hian	Sembcorp Marine	1.16	1.22	Hold	Buy @ $1.10
09/03/19	DMG & Partners	Sembcorp Marine	1.16	1.63	Buy	PB1.48x FY20
09/09/19	CIMB	Sembcorp Marine	1.19	1.26	Hold	PB1.2x CY19
10/09/19	CIMB	Sembcorp Marine	1.2	1.26	Hold	PB1.2x CY19
10/09/19	OCBC	Sembcorp Marine	1.2	1.29	Hold
10/09/19	DBS Vickers	Sembcorp Marine	1.2	1.9	Buy
10/25/19	DBS Vickers	Sembcorp Marine	1.4	1.45	Hold
11/12/19	UOB Kay Hian	Sembcorp Marine	1.33	1.22	Sell
11/13/19	OCBC	Sembcorp Marine	1.34	1.24	Sell
11/14/19	DMG & Partners	Sembcorp Marine	1.29	1.6	Buy	PB1.47x FY20
11/14/19	UOB Kay Hian	Sembcorp Marine	1.29	1.17	Sell
11/14/19	CIMB	Sembcorp Marine	1.29	1.26	Hold	PB1.2x CY21
11/15/19	Macquarie	Sembcorp Marine	1.28	1.4	Neutral	DCF
11/15/19	DBS Vickers	Sembcorp Marine	1.28	1.4	Hold	PB1.3x FY20
12/26/19	Lim & Tan	Sembcorp Marine	1.28	0	Hold
01/21/20	UOB Kay Hian	Sembcorp Marine	1.28	1.4	Hold
02/20/20	OCBC	Sembcorp Marine	1.24	1.23	Hold
02/21/20	UOB Kay Hian	Sembcorp Marine	1.2	1.21	Hold	Buy @ $1.05
02/21/20	DMG & Partners	Sembcorp Marine	1.2	1.45	Buy
02/21/20	DBS Vickers	Sembcorp Marine	1.2	1.35	Hold	PB1.3x FY20
02/21/20	CIMB	Sembcorp Marine	1.2	1.2	Hold
03/10/20	Amfrasers	Sembcorp Marine	0.895	1.19	Neutral
04/29/20	HSBC	Sembcorp Marine	0.74	0.79	Hold	Cut from $1.31
05/13/20	DMG & Partners	Sembcorp Marine	0.735	1.28	Buy	PB1.26x FY20
05/14/20	UOB Kay Hian	Sembcorp Marine	0.71	0.81	Hold	Buy @ $0.65
05/14/20	DBS Vickers	Sembcorp Marine	0.71	0.72	Hold	PB0.7x
05/14/20	CIMB	Sembcorp Marine	0.71	0.8	Hold	PB0.8x CY20
06/05/20	Lim & Tan	Sembcorp Marine	0.85	0	Hold
06/09/20	DMG & Partners	Sembcorp Marine	0.85	1.13	Buy	PB1.1x
06/09/20	Lim & Tan	Sembcorp Marine	0.85	0	Sell

Sembcorp Industries - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/09/19	DBS Vickers	Sembcorp Industries	2.75	3.9	Buy
05/16/19	OCBC	Sembcorp Industries	2.54	3.13	Buy	Sum of parts
05/16/19	DBS Vickers	Sembcorp Industries	2.54	3.9	Buy	Sum of parts, PB1x
05/16/19	CIMB	Sembcorp Industries	2.54	3.41	Add	Sum of parts
05/17/19	phillip	Sembcorp Industries	2.55	3.75	Buy	Sum of parts
06/04/19	OCBC	Sembcorp Industries	2.38	3.03	Buy	Sum of parts
06/04/19	Citi Research	Sembcorp Industries	2.38	3.15	Buy
07/03/19	OCBC	Sembcorp Industries	2.47	3.03	Buy
07/04/19	Macquarie	Sembcorp Industries	2.41	2.84	Outperform
08/15/19	CIMB	Sembcorp Industries	2.26	2.83	Add	Sum of parts
08/15/19	UOB Kay Hian	Sembcorp Industries	2.26	2.34	Hold
08/15/19	Citi Research	Sembcorp Industries	2.26	3.05	Buy
08/16/19	DBS Vickers	Sembcorp Industries	2.26	3.2	Buy	Sum of parts (10% discount), PER16x FY19, PB0.8x FY19
09/12/19	DBS Vickers	Sembcorp Industries	2.21	3.2	Buy	Sum of parts (10% discount), PER16x FY19, PB0.8x FY19
09/12/19	Lim & Tan	Sembcorp Industries	2.21	0	Buy
09/18/19	DMG & Partners	Sembcorp Industries	2.22	2.68	Buy	Sum of parts, PER9.9x FY20
09/18/19	OCBC	Sembcorp Industries	2.22	2.79	Buy
10/07/19	UOB Kay Hian	Sembcorp Industries	2.06	2.22	Hold	Buy @ $2
10/08/19	CIMB	Sembcorp Industries	2.08	2.83	Add	Sum of parts
10/09/19	DBS Vickers	Sembcorp Industries	2.11	3.2	Buy
10/25/19	DBS Vickers	Sembcorp Industries	2.28	2.9	Buy
11/15/19	OCBC	Sembcorp Industries	2.29	2.51	Hold	Sum of parts
11/15/19	DMG & Partners	Sembcorp Industries	2.29	2.68	Buy	Sum of parts (20% discount), PER10x FY20
11/18/19	UOB Kay Hian	Sembcorp Industries	2.26	2.19	Hold	Buy @ $2
11/18/19	DBS Vickers	Sembcorp Industries	2.26	2.9	Buy	RNAV (10% discount), PB0.7x
11/18/19	Citi Research	Sembcorp Industries	2.26	2.8	Buy
12/27/19	CIMB	Sembcorp Industries	2.28	2.78	Add
01/21/20	CIMB	Sembcorp Industries	2.28	2.78	Add
02/07/20	DBS Vickers	Sembcorp Industries	2.16	2.21	Hold	Sum of parts (10% discount), PER10.1x FY20, PB0.5x FY20
02/07/20	Citi Research	Sembcorp Industries	2.16	2.8	Buy
02/07/20	OCBC	Sembcorp Industries	2.16	2.13	Hold
02/07/20	UOB Kay Hian	Sembcorp Industries	2.16	2.17	Hold	Buy @ $2.05
02/07/20	Lim & Tan	Sembcorp Industries	2.16	0	Hold
02/07/20	DMG & Partners	Sembcorp Industries	2.16	2.68	Buy	Sum of parts, PER10x FY20
02/24/20	DMG & Partners	Sembcorp Industries	2.01	2.33	Buy	Sum of parts, PER10x FY20
04/29/20	HSBC	Sembcorp Industries	1.57	2.21	Buy	Cut from $2.68
05/19/20	DBS Vickers	Sembcorp Industries	1.55	1.7	Hold	Sum of parts, PB0.5x
05/19/20	Lim & Tan	Sembcorp Industries	1.55	0	Hold
05/19/20	UOB Kay Hian	Sembcorp Industries	1.55	1.7	Hold	Buy @ $1.50
05/19/20	CIMB	Sembcorp Industries	1.55	1.76	Hold
05/20/20	DMG & Partners	Sembcorp Industries	1.55	2	Buy	Sum of parts
06/01/20	DBS Vickers	Sembcorp Industries	1.36	1.7	Buy	Sum of parts (10% discount)
06/09/20	DMG & Partners	Sembcorp Industries	1.53	2.11	Buy	Sum of parts
06/09/20	CIMB	Sembcorp Industries	1.53	2.49	Add	Sum of parts
06/09/20	Lim & Tan	Sembcorp Industries	1.53	0	Buy

Stock calls for 9 June 2020

Date	Analyst	Company	Last	Target	Call	Valuation
06/09/20	OCBC	A-Reit	3.26	3.52	Buy
06/09/20	CIMB	CDL Hospitality	1.19	1.31	Add
06/09/20	CIMB	Far East Hospitality	0.57	0.59	Add
06/09/20	DMG & Partners	Food Empire	0.55	0.75	Buy	PER12x FY20
06/09/20	Lim & Tan	Keppel Corp	6.23	0	Buy
06/09/20	OCBC	Mapletree Industrial	2.82	2.84	Buy
06/09/20	OCBC	Mapletree North Asia	0.98	1.13	Buy
06/09/20	DMG & Partners	Sembcorp Industries	1.53	2.11	Buy	Sum of parts
06/09/20	CIMB	Sembcorp Industries	1.53	2.49	Add	Sum of parts
06/09/20	Lim & Tan	Sembcorp Industries	1.53	0	Buy
06/09/20	DMG & Partners	Sembcorp Marine	0.85	1.13	Buy	PB1.1x
06/09/20	Lim & Tan	Sembcorp Marine	0.85	0	Sell