Singtel - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/01/19	Kim Eng	Singtel	3.02	3.39	Hold
04/09/19	DBS Vickers	Singtel	3.06	3.55	Buy	Sum of parts
04/09/19	Citibank	Singtel	3.06	3.48	Buy
05/09/19	DBS Vickers	Singtel	3.11	3.55	Buy	Sum of parts
05/16/19	DMG & Partners	Singtel	3.13	3.35	Neutral	Sum of parts
05/16/19	OCBC	Singtel	3.13	3.59	Buy
05/16/19	CIMB	Singtel	3.13	3.4	Add	Sum of parts
05/16/19	UOB Kay Hian	Singtel	3.13	3.58	Buy
05/16/19	Kim Eng	Singtel	3.13	3.37	Hold	Sum of parts
05/16/19	Citibank	Singtel	3.13	3.62	Buy
05/17/19	Phillip	Singtel	3.14	3.31	Accumulate	Sum of parts, EV/Ebitda7x FY20
06/03/19	Phillip	Singtel	3.2	3.66	Buy	EV/Ebitda7x FY20
06/06/19	DMG & Partners	Singtel	3.21	3.35	Neutral
06/06/19	DBS Vickers	Singtel	3.21	3.55	Buy
06/13/19	UOB Kay Hian	Singtel	3.32	3.58	Buy	DCF
06/13/19	Kim Eng	Singtel	3.32	3.48	Hold	Sum of parts
06/14/19	CIMB	Singtel	3.35	3.5	Add	Sum of parts
06/14/19	Citibank	Singtel	3.35	3.95	Buy
07/08/19	DBS Vickers	Singtel	3.56	3.6	Hold	Sum of parts
07/15/19	Phillip	Singtel	3.54	3.66	Accumulate	Sum of parts
07/23/19	DMG & Partners	Singtel	3.52	3.4	Neutral	Sum of parts
07/23/19	Citibank	Singtel	3.52	3.97	Buy
08/07/19	DBS Vickers	Singtel	3.52	3.4	Hold	Sum of parts
08/08/19	Kim Eng	Singtel	3.29	3.44	Hold	Sum of parts
08/13/19	Phillip	Singtel	3.26	3.45	Accumulate	Sum of parts
08/13/19	DMG & Partners	Singtel	3.26	3.4	Neutral	Sum of parts
08/13/19	CIMB	Singtel	3.26	3.6	Add	Sum of parts
08/13/19	UOB Kay Hian	Singtel	3.26	3.32	Hold	DCF, Buy @ $3
08/13/19	DBS Vickers	Singtel	3.26	3.25	Hold	EV/Ebitda6.3x
08/14/19	OCBC	Singtel	3.18	3.61	Buy
09/27/19	UOB Kay Hian	Singtel	3.13	3.32	Hold	DCF, Buy @ $3
10/10/19	Kim Eng	Singtel	3.14	3.44	Hold	Sum of parts
10/10/19	DBS Vickers	Singtel	3.14	3.12	Hold	EV/Ebitda6x
10/11/19	Phillip	Singtel	3.15	3.45	Accumulate
10/18/19	CIMB	Singtel	3.16	3.6	Add
11/11/19	UOB Kay Hian	Singtel	3.35	3.32	Hold	DCF, Buy @ $3
11/15/19	Lim & Tan	Singtel	3.3	0	Hold
11/18/19	Phillip	Singtel	3.18	3.31	Accumulate	Sum of parts
11/18/19	DMG & Partners	Singtel	3.18	3.5	Neutral	Sum of parts
11/18/19	CIMB	Singtel	3.18	3.6	Add	Sum of parts
11/18/19	DBS Vickers	Singtel	3.18	3.12	Hold
11/18/19	OCBC	Singtel	3.18	3.53	Buy
11/22/19	DBS Vickers	Singtel	3.26	3.6	Buy	Sum of parts
12/03/19	Kim Eng	Singtel	3.46	3.72	Hold	Sum of parts
12/05/19	CIMB	Singtel	3.4	3.7	Add	Sum of parts
12/09/19	UOB Kay Hian	Singtel	3.43	3.32	Hold	DCF, Buy @ $3
12/16/19	Phillip	Singtel	3.39	3.53	Accumulate	Sum of parts
01/03/20	DBS Vickers	Singtel	3.4	3.6	Buy
01/14/20	DMG & Partners	Singtel	3.27	3.5	Neutral
01/15/20	UOB Kay Hian	Singtel	3.25	3.32	Hold	DCF, Buy @ $3
01/15/20	DBS Vickers	Singtel	3.25	3.8	Buy	Sum of parts
02/10/20	DBS Vickers	Singtel	3.32	3.8	Buy
02/10/20	UOB Kay Hian	Singtel	3.32	3.32	Hold	DCF
02/14/20	DMG & Partners	Singtel	3.28	3.45	Neutral	Sum of parts
02/14/20	UOB Kay Hian	Singtel	3.28	3.2	Hold	Buy @ $3
02/14/20	DBS Vickers	Singtel	3.28	3.63	Buy
02/14/20	Lim & Tan	Singtel	3.28	0	Hold
02/17/20	Phillip	Singtel	3.22	3.18	Neutral	Sum of parts
02/19/20	Macquarie	Singtel	3.17	3.77	outperform
02/19/20	OCBC	Singtel	3.17	3.61	Buy
03/05/20	Macquarie	Singtel	2.97	3.77	outperform
03/05/20	DBS Vickers	Singtel	2.97	3.52	Buy	Sum of parts
03/26/20	DBS Vickers	Singtel	2.6	2.8	Buy	Sum of parts
03/30/20	DBS Vickers	Singtel	2.57	2.85	Buy
04/01/20	CIMB	Singtel	2.54	3.4	Add	Sum of parts
04/03/20	UOB Kay Hian	Singtel	2.62	3	Buy	DCF
04/20/20	DBS Vickers	Singtel	2.76	3.02	Buy	Sum of parts
04/24/20	DMG & Partners	Singtel	2.75	3.3	Buy	Sum of parts
05/18/20	CIMB	Singtel	2.66	3.4	Add	Sum of parts
05/22/20	DBS Vickers	Singtel	2.68	3.22	Buy	Sum of parts
05/29/20	DBS Vickers	Singtel	2.51	3.09	Buy
05/29/20	UOB Kay Hian	Singtel	2.51	2.8	Buy	DCF
05/29/20	DMG & Partners	Singtel	2.51	3.4	Buy	Sum of parts
05/29/20	Lim & Tan	Singtel	2.51	2.45	Hold
05/29/20	OCBC	Singtel	2.51	3.24	Buy
06/01/20	Phillip	Singtel	2.49	2.44	Neutral	Sum of parts

Singapore Post - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/04/19	OCBC	Singapore Post	0.995	1	Hold
04/08/19	CIMB	Singapore Post	1.03	1.2	Add	DCF, PER18.2x FY21
05/08/19	OCBC	Singapore Post	1.01	1	Hold
05/08/19	CIMB	Singapore Post	1.01	1.17	Add	DCF
05/08/19	DBS Vickers	Singapore Post	1.01	0.96	Hold	DCF
05/09/19	UOB Kay Hian	Singapore Post	0.99	1.06	Hold	Buy @ $0.95
07/02/19	UOB Kay Hian	Singapore Post	0.965	1.04	Hold	Sum of parts, Buy @ $0.88
08/05/19	UOB Kay Hian	Singapore Post	0.965	1.04	Hold	Sum of parts
08/05/19	DBS Vickers	Singapore Post	0.965	0.96	Hold
08/05/19	Lim & Tan	Singapore Post	0.965	0	Hold
08/07/19	OCBC	Singapore Post	0.945	1	Hold
09/19/19	OCBC	Singapore Post	0.93	1	Hold
09/20/19	UOB Kay Hian	Singapore Post	0.92	1.04	Hold	Sum of parts, Buy @ $0.90
09/20/19	DBS Vickers	Singapore Post	0.92	0.96	Hold
10/31/19	DBS Vickers	Singapore Post	0.96	0.96	Hold
11/04/19	CIMB	Singapore Post	0.965	1.13	Add	DCF
11/05/19	UOB Kay Hian	Singapore Post	0.955	1.04	Hold	Sum of parts, Buy @ $0.88
11/05/19	DBS Vickers	Singapore Post	0.955	0.96	Hold	DCF
11/05/19	OCBC	Singapore Post	0.955	1.02	Hold
02/10/20	UOB Kay Hian	Singapore Post	0.89	0.99	Hold	Sum of parts
02/10/20	DBS Vickers	Singapore Post	0.89	0.85	Hold	PER17x FY21
02/10/20	OCBC	Singapore Post	0.89	0.96	Hold
05/11/20	DBS Vickers	Singapore Post	0.74	0.64	Fully Valued	PER17x FY21

Singapore Medical - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/10/19	UOB Kay Hian	Singapore Medical	0.445	0.62	Buy	PER23x FY19
05/10/19	DMG & Partners	Singapore Medical	0.445	0.48	Neutral	DCF
06/06/19	DMG & Partners	Singapore Medical	0.385	0.48	Neutral	DCF
06/07/19	DMG & Partners	Singapore Medical	0.38	0.48	Buy	DCF
08/08/19	DMG & Partners	Singapore Medical	0.37	0.48	Buy	DCF
10/15/19	DMG & Partners	Singapore Medical	0.305	0.48	Buy
11/13/19	DMG & Partners	Singapore Medical	0.325	0.36	Neutral	DCF, PER13.4x
02/25/20	DMG & Partners	Singapore Medical	0.32	0.35	Neutral	PER11.3x FY20
05/26/20	DMG & Partners	Singapore Medical	0.23	0.25	Neutral	PER9.8x FY21

Stock calls for 12 June 2020

Date	Analyst	Company	Last	Target	Call	Valuation
06/12/20	UOB Kay Hian	ARA Hospitality	0.425	0.69	Buy	DDM
06/12/20	UOB Kay Hian	ARA Logistics	0.54	0.69	Buy
06/12/20	DMG & Partners	China Aviation Oil	1.14	1.25	Buy	PB0.9x, PER3.5x FY21 (ex-cash)
06/12/20	CIMB	Riverstone	2.25	3.12	Add	PER22.7x CY21
06/12/20	Kim Eng	Top Glove	5.56	7.13	Buy	Ringgit target $21.9, PER23x CY21
06/12/20	UOB Kay Hian	Top Glove	5.56	7.13	Buy	Ringgit target $21.90

US will keep its easing monetary policy until 2022.

The US Fed had put its interest rates on hold until 2022 and won't delve into the negative territory as proclaimed in its previous statement.

 http://sg-stock.blogspot.com/2020/05/what-will-us-fed-do-after-rejecting.html

This will be a recipe for a bigger financial crisis in the future because debts will keep ballooning.

Silverlake - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/07/19	DMG & Partners	Silverlake	0.61	0.65	Buy	DCF
05/16/19	DBS Vickers	Silverlake	0.52	0.63	Buy	PER21x FY19
05/16/19	CIMB	Silverlake	0.52	0.58	Add
06/06/19	DMG & Partners	Silverlake	0.53	0.65	Buy	DCF
08/01/19	DMG & Partners	Silverlake	0.52	0.65	Buy	DCF
08/26/19	CIMB	Silverlake	0.51	0.53	Hold
08/26/19	DBS Vickers	Silverlake	0.51	0.6	Buy	PER21x FY20
09/05/19	DMG & Partners	Silverlake	0.455	0.56	Buy	DCF
10/08/19	DMG & Partners	Silverlake	0.44	0.56	Buy
11/15/19	DBS Vickers	Silverlake	0.44	0.57	Buy	PER21x FY20
11/18/19	DMG & Partners	Silverlake	0.43	0.46	Neutral	DCF
12/10/19	DMG & Partners	Silverlake	0.41	0.46	Neutral
02/14/20	DBS Vickers	Silverlake	0.37	0.48	Buy	PER21x FY20
02/14/20	DMG & Partners	Silverlake	0.37	0.41	Neutral	DCF
04/28/20	DMG & Partners	Silverlake	0.24	0.26	Neutral	DCF
05/18/20	DBS Vickers	Silverlake	0.245	0.38	Buy	PER20x
05/20/20	DMG & Partners	Silverlake	0.245	0.24	Neutral	DCF

SIIC - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/13/19	DBS Vickers	SIIC	0.235	0.265	Hold

SIA Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/15/19	Kim Eng	SIA Engineering	2.49	2.85	Buy
05/14/19	Kim Eng	SIA Engineering	2.43	2.85	Buy	DCF
05/14/19	OCBC	SIA Engineering	2.43	2.43	Hold
05/14/19	UOB Kay Hian	SIA Engineering	2.43	2.55	Hold	Buy @ $2.30
05/14/19	DBS Vickers	SIA Engineering	2.43	2.6	Hold	Sum of parts
05/14/19	CIMB	SIA Engineering	2.43	3.11	Add
07/02/19	Kim Eng	SIA Engineering	2.51	2.85	Buy
07/05/19	DBS Vickers	SIA Engineering	2.72	3.01	Buy
07/08/19	CIMB	SIA Engineering	2.89	3.11	Add	DCF
07/29/19	UOB Kay Hian	SIA Engineering	2.65	2.55	Hold	DCF, Buy @ $2.40
07/29/19	OCBC	SIA Engineering	2.65	2.43	Hold
07/30/19	Kim Eng	SIA Engineering	2.68	2.85	Hold
09/02/19	Kim Eng	SIA Engineering	2.43	2.85	Buy	DCF
11/04/19	Lim & Tan	SIA Engineering	2.65	0	Hold
11/05/19	UOB Kay Hian	SIA Engineering	2.77	3.13	Buy
11/05/19	DBS Vickers	SIA Engineering	2.77	3.3	Buy	Sum of parts
11/05/19	OCBC	SIA Engineering	2.77	2.86	Hold
11/05/19	CIMB	SIA Engineering	2.77	3.3	Add	DCF
11/26/19	Kim Eng	SIA Engineering	2.85	3	Buy
12/27/19	CIMB	SIA Engineering	2.82	3.3	Add
02/04/20	UOB Kay Hian	SIA Engineering	2.58	3.13	Buy	DDM
02/10/20	Lim & Tan	SIA Engineering	2.61	0	Hold
02/11/20	OCBC	SIA Engineering	2.59	2.41	Sell
03/20/20	DBS Vickers	SIA Engineering	1.56	1.35	Fully Valued	Sum of parts
05/12/20	UOB Kay Hian	SIA Engineering	1.82	1.57	Sell	DDM
06/08/20	DBS Vickers	SIA Engineering	2.22	2.3	Hold	Sum of parts (15% premium)

Stock calls for 11 June 2020

Date	Analyst	Company	Last	Target	Call	Valuation
06/11/20	DBS Vickers	APAC Realty	0.42	0.41	Hold	PER19x FY21
06/11/20	Macquarie	DBS	23.01	26	outperform
06/11/20	CIMB	Innotek	0.39	0.579	Add
06/11/20	Macquarie	OCBC	9.73	11.2	Outperform
06/11/20	Amfrasers	Sasseur	0.795	0.89	Buy	DDM
06/11/20	DMG & Partners	Unusual	0.133	0.16	Buy	DCF
06/11/20	Macquarie	UOB	23.1	23	Neutral
06/11/20	UOB Kay Hian	Wilmar	4.04	4.8	Buy

SIA - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/16/19	UOB Kay Hian	SIA	9.88	10.1	Hold	Sum of parts
04/16/19	OCBC	SIA	9.88	11.02	Buy
05/17/19	CIMB	SIA	9.4	10.14	Hold	PB0.9x CY19
05/21/19	OCBC	SIA	9.3	11.02	Buy
05/21/19	UOB Kay Hian	SIA	9.3	9.6	Hold	Buy @ $8.80
05/21/19	DBS Vickers	SIA	9.3	10.8	Buy	PB0.95x FY20
06/19/19	UOB Kay Hian	SIA	9.17	9.5	Hold	Sum of parts, Buy @ $8.60
06/19/19	CIMB	SIA	9.17	10.04	Hold
06/19/19	Citi Research	SIA	9.17	7.96	Buy	Ex-rights target price
08/01/19	UOB Kay Hian	SIA	9.67	9.5	Hold	Sum of parts, Buy @ $9.10
08/01/19	DBS Vickers	SIA	9.67	10.8	Buy	PB0.95x FY20
08/01/19	Lim & Tan	SIA	9.67	0	Hold
08/02/19	CIMB	SIA	9.2	10.04	Hold	PB0.9x CY19
09/19/19	UOB Kay Hian	SIA	9.15	9.5	Hold	Sum of parts, Buy @ $8.70
10/17/19	UOB Kay Hian	SIA	9.16	9.5	Hold	Buy @ $9
11/06/19	CIMB	SIA	9.43	10	Hold	PB0.9x CY19
11/06/19	Kim Eng	SIA	9.43	10.7	Buy	PB1x FY21
11/07/19	OCBC	SIA	9.18	10.46	Buy
11/07/19	UOB Kay Hian	SIA	9.18	9.4	Hold	Buy @ $8.70
11/07/19	DBS Vickers	SIA	9.18	10.4	Buy	PB0.95x FY20
01/10/20	UOB Kay Hian	SIA	8.93	9.1	Hold	Sum of parts, Buy @ $8.60
01/14/20	DBS Vickers	SIA	8.95	10.4	Buy
01/14/20	Citi Research	SIA	8.95	7.26	Buy	Ex-rights target price
02/04/20	UOB Kay Hian	SIA	8.49	9.1	Hold	Buy @ $8.40
02/06/20	CIMB	SIA	8.59	8.46	Hold	PB0.86x CY20
02/10/20	DBS Vickers	SIA	8.58	10.4	Buy	PB0.95x FY20
02/18/20	OCBC	SIA	8.66	9.9	Buy
03/13/20	CIMB	SIA	7.34	8	Hold	PB0.86x
03/19/20	DBS Vickers	SIA	6.53	6.6	Hold	PB0.85x
03/20/20	OCBC	SIA	6.12	6.6	Hold
03/23/20	UOB Kay Hian	SIA	6.02	6.6	Hold	Buy @ $5.7 (PB0.5x)
03/30/20	UOB Kay Hian	SIA	6.08	5.8	Hold	Sum of parts, Buy @ $5.2
03/30/20	Citi Research	SIA	6.08	2.82	Sell	Ex-rights target price
04/03/20	CIMB	SIA	5.65	6.27	Hold	Ex-rights price $4.25
04/03/20	DIR	SIA	5.65	5.54	Hold
05/06/20	CIMB	SIA	5.91	4.45	Hold	PB0.84x, Ex-rights
05/15/20	Citi Research	SIA	3.81	4	Sell
05/15/20	CIMB	SIA	3.81	4.6	Add	PB0.84x
05/18/20	UOB Kay Hian	SIA	3.9	4.34	Buy
06/03/20	Lim & Tan	SIA	4.11	0	Take Profit

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