Keppel Pacific - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/12/19	DMG & Partners	Keppel Pacific	0.79	0.88	Buy	DDM
07/18/19	DBS Vickers	Keppel Pacific	0.82	0.9	Buy
09/06/19	DMG & Partners	Keppel Pacific	0.74	0.88	Buy	DDM
09/09/19	DBS Vickers	Keppel Pacific	0.75	0.9	Buy
10/16/19	DBS Vickers	Keppel Pacific	0.76	0.9	Buy	DCF
10/16/19	DMG & Partners	Keppel Pacific	0.76	0.88	Buy	DDM
12/10/19	DMG & Partners	Keppel Pacific	0.775	0.88	Buy
01/22/20	DMG & Partners	Keppel Pacific	0.765	0.88	Buy	DDM
01/24/20	DBS Vickers	Keppel Pacific	0.785	0.9	Buy	DCF
03/20/20	DBS Vickers	Keppel Pacific	0.395	0.9	Buy
04/14/20	DMG & Partners	Keppel Pacific	0.54	0.76	Buy	DDM
06/08/20	DMG & Partners	Keppel Pacific	0.725	0.8	Buy	DDM
06/26/20	DBS Vickers	Keppel Pacific	0.68	0.85	Buy
07/24/20	DMG & Partners	Keppel Pacific	0.715	0.8	Buy	DDM

Stock calls for 14 August 2020

Date	Analyst	Company	Last	Target	Call	Valuation
08/14/20	DBS Vickers	APAC Realty	0.38	0.4	Hold	PER11.4x FY21
08/14/20	DBS Vickers	China Everbright	0.235	0.33	Buy
08/14/20	CIMB	China Sunsine	0.32	0.38	Add
08/14/20	OCBC	City Developments	8.46	10.64	Buy
08/14/20	CIMB	City Developments	8.46	10.1	Add
08/14/20	DMG & Partners	City Developments	8.46	9.5	Buy	RNAV (45% discount)
08/14/20	UOB Kay Hian	City Developments	8.46	9.2	Buy
08/14/20	DBS Vickers	Delfi	0.725	0.98	Buy	PER18x FY21
08/14/20	DMG & Partners	Food Empire	0.62	0.75	Buy	PER12x FY20
08/14/20	UOB Kay Hian	Frencken	1.24	1.37	Buy
08/14/20	DBS Vickers	Frencken	1.24	1.43	Buy	PER13.2x FY21
08/14/20	CIMB	Frencken	1.24	1.06	Reduce
08/14/20	UOB Kay Hian	Propnex	0.585	0.69	Buy
08/14/20	DBS Vickers	Sunpower	0.58	0.69	Buy	DCF
08/14/20	UOB Kay Hian	Sunpower	0.58	0.92	Buy	Sum of parts
08/14/20	DBS Vickers	UMS	1.18	1.37	Buy	PER15x FY21
08/14/20	CIMB	UOL	6.64	7.29	Add
08/14/20	OCBC	Wilmar	4.87	5.4	Buy

Keppel Infrastructure - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/16/19	DBS Vickers	Keppel Infrastructure	0.505	0.58	Buy	DDM
10/15/19	DBS Vickers	Keppel Infrastructure	0.545	0.58	Buy
01/22/20	DBS Vickers	Keppel Infrastructure	0.55	0.58	Buy	DDM
04/21/20	Lim & Tan	Keppel Infrastructure	0.475	0	Buy
04/22/20	DBS Vickers	Keppel Infrastructure	0.48	0.54	Buy	DDM
04/24/20	Credit Suisse	Keppel Infrastructure	0.49	0.57	Outperform
07/23/20	DBS Vickers	Keppel Infrastructure	0.535	0.57	Buy	DDM
07/23/20	Lim & Tan	Keppel Infrastructure	0.535	0	Hold

Keppel DC Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/10/19	CIMB	Keppel DC Reit	1.67	1.54	Add
07/17/19	OCBC	Keppel DC Reit	1.71	1.93	Buy
07/17/19	DBS Vickers	Keppel DC Reit	1.71	1.9	Buy	DCF
07/18/19	Phillip	Keppel DC Reit	1.73	1.71	Hold	DDM
07/18/19	CIMB	Keppel DC Reit	1.73	1.67	Hold	DDM
07/23/19	Amfrasers	Keppel DC Reit	1.75	1.71	Neutral
07/26/19	OCBC	Keppel DC Reit	1.71	1.93	Hold
08/26/19	Phillip	Keppel DC Reit	1.74	1.71	Neutral
09/17/19	OCBC	Keppel DC Reit	1.8	2.08	Buy	DDM
09/17/19	Amfrasers	Keppel DC Reit	1.8	1.95	Outperform
09/18/19	CIMB	Keppel DC Reit	1.93	1.82	Hold	DDM
09/19/19	Phillip	Keppel DC Reit	1.97	2	Accumulate	DDM
10/08/19	DBS Vickers	Keppel DC Reit	1.9	2.2	Buy	DCF
10/16/19	CIMB	Keppel DC Reit	1.99	1.88	Hold	DDM
10/16/19	Phillip	Keppel DC Reit	1.99	2.06	Accumulate	DDM
10/16/19	Lim & Tan	Keppel DC Reit	1.99	0	Hold
10/17/19	Amfrasers	Keppel DC Reit	2	2.11	Outperform
10/17/19	OCBC	Keppel DC Reit	2	2.08	Hold
11/25/19	Phillip	Keppel DC Reit	2.01	2.06	Accumulate
12/18/19	DBS Vickers	Keppel DC Reit	1.97	2.23	Buy	DCF
01/22/20	CIMB	Keppel DC Reit	2.25	2.03	Hold	DDM
01/23/20	DBS Vickers	Keppel DC Reit	2.22	2.4	Buy	DCF
02/04/20	DBS Vickers	Keppel DC Reit	2.27	2.4	Buy
02/25/20	DBS Vickers	Keppel DC Reit	2.5	2.55	Hold	DCF
03/02/20	DBS Vickers	Keppel DC Reit	2.32	2.55	Hold	DCF
03/11/20	Amfrasers	Keppel DC Reit	2.38	2.19	Neutral
03/13/20	Phillip	Keppel DC Reit	2.14	2.06	Accumulate
03/19/20	CIMB	Keppel DC Reit	1.86	2.17	Add
04/22/20	CIMB	Keppel DC Reit	2.44	2.17	Hold
04/22/20	OCBC	Keppel DC Reit	2.44	2.54	Hold
04/24/20	Phillip	Keppel DC Reit	2.45	2.2	Hold	DDM
07/22/20	Phillip	Keppel DC Reit	2.75	2.57	Neutral	DDM, Up from $2.31
07/22/20	DBS Vickers	Keppel DC Reit	2.75	2.8	Hold	DCF
07/22/20	CIMB	Keppel DC Reit	2.75	2.88	Hold	DDM
07/22/20	Lim & Tan	Keppel DC Reit	2.75	0	Hold
07/22/20	OCBC	Keppel DC Reit	2.75	2.86	Hold

Keppel Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/03/19	DBS Vickers	Keppel Corp	6.77	9.2	Buy
07/03/19	OCBC	Keppel Corp	6.77	7.83	Buy
07/19/19	DMG & Partners	Keppel Corp	6.59	7.3	Buy	Sum of parts
07/19/19	CIMB	Keppel Corp	6.59	8.41	Add	Sum of parts
07/19/19	UOB Kay Hian	Keppel Corp	6.59	7.61	Buy	Sum of parts
07/19/19	Lim & Tan	Keppel Corp	6.59	0	Hold
07/22/19	Amfrasers	Keppel Corp	6.57	7.43	Neutral	Sum of parts
07/22/19	DBS Vickers	Keppel Corp	6.57	8.5	Buy	Sum of parts
08/22/19	Lim & Tan	Keppel Corp	5.9	0	Buy
08/26/19	UOB Kay Hian	Keppel Corp	5.88	7.61	Buy	Sum of parts
09/24/19	Lim & Tan	Keppel Corp	6.04	0	Buy
09/30/19	CIMB	Keppel Corp	5.98	8.41	Add	Sum of parts
10/01/19	UOB Kay Hian	Keppel Corp	5.93	7.61	Buy	Sum of parts
10/08/19	CIMB	Keppel Corp	5.91	8.41	Add
10/08/19	DMG & Partners	Keppel Corp	5.91	7.3	Buy
10/09/19	OCBC	Keppel Corp	5.93	7.58	Buy
10/09/19	DBS Vickers	Keppel Corp	5.93	8.5	Buy
10/17/19	Macquarie	Keppel Corp	5.98	7.5	Outperform	Sum of parts
10/18/19	CIMB	Keppel Corp	5.96	8.36	Add	Sum of parts
10/18/19	DMG & Partners	Keppel Corp	5.96	7.18	Buy	Sum of parts (20% disc)
10/18/19	Lim & Tan	Keppel Corp	5.96	0	Hold
10/18/19	DBS Vickers	Keppel Corp	5.96	7.5	Buy	Sum of parts, PB1.2x FY19
10/21/19	Amfrasers	Keppel Corp	5.84	7.44	Overweight	Sum of parts
10/21/19	OCBC	Keppel Corp	5.84	7.58	Buy
10/22/19	DMG & Partners	Keppel Corp	5.84	7.8	Buy	Sum of parts (13% disc)
11/12/19	UOB Kay Hian	Keppel Corp	6.86	7.61	Buy
12/17/19	Lim & Tan	Keppel Corp	6.72	0	Buy
12/19/19	DMG & Partners	Keppel Corp	6.75	7.8	Buy
01/08/20	CIMB	Keppel Corp	6.84	7.76	Add
01/08/20	DMG & Partners	Keppel Corp	6.84	7.8	Buy	Sum of parts
01/20/20	UOB Kay Hian	Keppel Corp	6.84	7.61	Buy
01/24/20	UOB Kay Hian	Keppel Corp	6.74	7.75	Buy	Sum of parts
01/28/20	DBS Vickers	Keppel Corp	6.75	7.5	Buy	Sum of parts
03/11/20	DMG & Partners	Keppel Corp	5.7	7.6	Buy	Sum of parts
03/11/20	OCBC	Keppel Corp	5.7	7.16	Buy
03/26/20	Macquarie	Keppel Corp	5.4	7	Outperform	Sum of parts
04/07/20	DMG & Partners	Keppel Corp	5.51	7.6	Buy
04/23/20	CIMB	Keppel Corp	5.7	7.48	Add	Sum of parts
04/29/20	HSBC	Keppel Corp	6.03	6.74	Buy	Cut from $7.80
04/30/20	DMG & Partners	Keppel Corp	5.97	7.4	Buy	Sum of parts
04/30/20	UOB Kay Hian	Keppel Corp	5.97	7.15	Buy	Sum of parts
04/30/20	Lim & Tan	Keppel Corp	5.97	0	Hold
04/30/20	DBS Vickers	Keppel Corp	5.97	6.8	Buy	Sum of parts
05/28/20	Macquarie	Keppel Corp	6.03	7	Outperform
05/29/20	DBS Vickers	Keppel Corp	5.97	6.8	Buy
05/29/20	CIMB	Keppel Corp	5.97	7.48	Add	Sum of parts
05/29/20	DMG & Partners	Keppel Corp	5.97	7.3	Buy
06/02/20	UOB Kay Hian	Keppel Corp	5.96	7.15	Buy
06/09/20	Lim & Tan	Keppel Corp	6.23	0	Buy
07/07/20	DMG & Partners	Keppel Corp	6.16	7.3	Buy
07/14/20	Macquarie	Keppel Corp	6.01	7	Outperform	Sum of parts
07/27/20	Lim & Tan	Keppel Corp	5.71	0	Buy on weakness
08/03/20	UOB Kay Hian	Keppel Corp	5.4	7.1	Buy	Sum of parts
08/03/20	DMG & Partners	Keppel Corp	5.4	7.3	Buy	Sum of parts
08/03/20	DBS Vickers	Keppel Corp	5.4	6.4	Buy	sum of parts, PB1x
08/03/20	CIMB	Keppel Corp	5.4	6.46	Add	Sum of parts
08/03/20	OCBC	Keppel Corp	5.4	6.4	Buy
08/11/20	Amfrasers	Keppel Corp	5.4	6.34	Outperform	Sum of parts
08/11/20	DBS Vickers	Keppel Corp	5.4	5.5	Hold	Sum of parts, PB1x
08/11/20	Lim & Tan	Keppel Corp	5.4	0	Hold
08/11/20	UOB Kay Hian	Keppel Corp	5.4	6.7	Buy

Stock calls for 13 August 2020

Date	Analyst	Company	Last	Target	Call	Valuation
08/13/20	DBS Vickers	Centurion	0.355	0.39	Hold	DCF
08/13/20	DMG & Partners	China Aviation Oil	0.93	0.95	Neutral	Sum of parts
08/13/20	Lim & Tan	City Developments	8.34	0	Buy on weakness
08/13/20	DMG & Partners	Delfi	0.74	0.8	Neutral	DCF
08/13/20	UOB Kay Hian	Food Empire	0.56	0.85	Buy	PER12.3x FY21
08/13/20	DBS Vickers	HRnetGroup	0.48	0.5	Hold	PER7.5x FY20, Ex-cash
08/13/20	DMG & Partners	HRnetGroup	0.48	0.52	Neutral	DCF
08/13/20	Phillip	Ireit	0.72	0.68	Neutral
08/13/20	UOB Kay Hian	Koufu	0.675	0.78	Buy
08/13/20	Lim & Tan	Koufu	0.675	0	Buy on weakness
08/13/20	CIMB	Netlink	0.965	1.1	Add
08/13/20	phillip	OCBC	8.86	8.92	Accumulate	GGM, PB0.84x
08/13/20	UOB Kay Hian	Singapore Post	0.71	0.76	Hold	Buy @ $0.66
08/13/20	Phillip	UG Healthcare	2.98	4.15	Buy	PER15x FY21
08/13/20	Kim Eng	Wilmar	4.79	5.24	Buy	DCF & PER20.1x
08/13/20	DBS Vickers	Wilmar	4.79	5.28	Buy	Sum of parts, PER20.2x FY20

Jumbo - Stock calls

 

Date	Analyst	Company	Last	Target	Call	Valuation
08/07/19	DBS Vickers	Jumbo	0.38	0.47	Buy	PER23x FY20
08/08/19	DMG & Partners	Jumbo	0.375	0.47	Buy	DCF
08/08/19	UOB Kay Hian	Jumbo	0.375	0.37	Hold
08/27/19	CIMB	Jumbo	0.37	0.47	Add
09/26/19	UOB Kay Hian	Jumbo	0.38	0.37	Hold	Buy @ $0.33
10/01/19	DBS Vickers	Jumbo	0.375	0.47	Buy
11/27/19	DBS Vickers	Jumbo	0.37	0.47	Buy	PER23x FY20
11/27/19	CIMB	Jumbo	0.37	0.47	Add
11/28/19	UOB Kay Hian	Jumbo	0.375	0.44	Buy	PER20.3x FY20
12/03/19	DMG & Partners	Jumbo	0.37	0.44	Buy	DCF
01/14/20	DBS Vickers	Jumbo	0.385	0.47	Buy
02/07/20	DBS Vickers	Jumbo	0.335	0.38	Buy	PER23x FY20
02/13/20	UOB Kay Hian	Jumbo	0.335	0.32	Hold	PER21x FY20, Buy @ $0.29
03/25/20	DBS Vickers	Jumbo	0.198	0.18	Hold	PER18x FY20/21
03/26/20	DMG & Partners	Jumbo	0.21	0.2	Neutral	DCF
03/26/20	CIMB	Jumbo	0.21	0.218	Hold
04/22/20	DBS Vickers	Jumbo	0.245	0.18	Hold
04/23/20	UOB Kay Hian	Jumbo	0.245	0.23	Hold	Buy @ $0.20
05/18/20	DMG & Partners	Jumbo	0.25	0.19	Sell	DCF
05/18/20	DBS Vickers	Jumbo	0.25	0.21	Fully Valued	PER18x FY21
05/18/20	CIMB	Jumbo	0.25	0.2	Reduce
06/16/20	DMG & Partners	Jumbo	0.29	0.19	Sell

JEP - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/21/19	Phillip	JEP	0.162	0.2	Buy	PER10x FY19
03/04/20	Phillip	JEP	0.205	0.25	Buy	PER14x FY20

Jardine Matheson - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/10/20	CIMB	Jardine Matheson	50.12	52.53	Hold	Cut from $61.66
08/03/20	CIMB	Jardine Matheson	40.92	48.61	Add	PB0.78x FY20

Stock calls for 12 August 2020

Date	Analyst	Company	Last	Target	Call	Valuation
08/12/20	DBS Vickers	AIMS AMP Cap Ind Reit	1.17	1.4	Buy	DCF
08/12/20	Phillip	Capitaland	2.75	3.82	Buy	RNAV (20% discount)
08/12/20	Macquarie	DBS	20.85	24.1	outperform
08/12/20	Amfrasers	EC World Reit	0.655	0.73	outperform
08/12/20	DMG & Partners	EC World Reit	0.655	0.76	Buy	DDM
08/12/20	CIMB	Frasers Property	1.19	1.7	Add
08/12/20	CIMB	Grand Venture	0.26	0.36	Add
08/12/20	DBS Vickers	Koufu	0.68	0.77	Buy	PER17x FY21
08/12/20	Macquarie	OCBC	8.76	8.85	Neutral
08/12/20	UOB Kay Hian	Penguin	0.43	0.42	Hold	Buy @ $0.34
08/12/20	DBS Vickers	Singapore Post	0.7	0.64	Fully Valued	DCF, PER17x FY21
08/12/20	CIMB	Singtel	2.36	3.4	Add
08/12/20	Macquarie	UOB	19.65	20.85	Neutral
08/12/20	phillip	UOB	19.65	20.4	Accumulate	GGM, PB0.87x
08/12/20	CIMB	Venture	20	20.14	Add

Japfa - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/31/19	UOB Kay Hian	Japfa	0.515	0.48	Hold	Sum of parts, Buy @ $0.42
08/01/19	Kim Eng	Japfa	0.51	0.73	Buy	Sum of parts
08/05/19	DBS Vickers	Japfa	0.5	0.53	Hold	Sum of parts (10% discount), PER12.5x FY19
09/13/19	Kim Eng	Japfa	0.485	0.73	Buy	Sum of parts
11/01/19	UOB Kay Hian	Japfa	0.49	0.5	Hold	Sum of parts, Buy @ $0.44
11/01/19	DBS Vickers	Japfa	0.49	0.53	Hold
11/01/19	CIMB	Japfa	0.49	0.56	Add
11/20/19	CIMB	Japfa	0.61	0.7	Add	PER12x FY21
01/20/20	UOB Kay Hian	Japfa	0.64	0.8	Buy
01/31/20	CIMB	Japfa	0.56	0.69	Add
01/31/20	Kim Eng	Japfa	0.56	0.72	Buy
03/03/20	UOB Kay Hian	Japfa	0.59	0.88	Buy	Sum of parts
03/04/20	DBS Vickers	Japfa	0.575	0.84	Buy	Sum of parts, PER11x
04/16/20	CIMB	Japfa	0.51	0.95	Add	PER12x CY21
04/16/20	UOB Kay Hian	Japfa	0.51	0.9	Buy	Sum of parts
04/16/20	DBS Vickers	Japfa	0.51	0.84	Buy
05/18/20	UOB Kay Hian	Japfa	0.635	0.98	Buy	Sum of parts
05/18/20	DBS Vickers	Japfa	0.635	0.86	Buy	Sum of parts, PER10x FY21
06/30/20	DBS Vickers	Japfa	0.67	0.82	Buy	Sum of parts, PER10.5x FY21
08/03/20	UOB Kay Hian	Japfa	0.66	0.98	Buy	Sum of parts
08/03/20	DBS Vickers	Japfa	0.66	0.82	Buy	Sum of parts
08/03/20	CIMB	Japfa	0.66	0.96	Add

Japan Foods - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/22/19	DMG & Partners	Japan Foods	0.435	0.4	Neutral	Sum of parts
11/08/19	DMG & Partners	Japan Foods	0.435	0.4	Neutral	Sum of parts
11/11/19	Amfrasers	Japan Foods	0.425	0.46	Neutral
12/02/19	Amfrasers	Japan Foods	0.43	0.46	Neutral
12/11/19	DMG & Partners	Japan Foods	0.425	0.4	Neutral
05/06/20	DMG & Partners	Japan Foods	0.35	0.35	Neutral	Sum of parts
06/16/20	DMG & Partners	Japan Foods	0.33	0.35	Neutral
07/22/20	DMG & Partners	Japan Foods	0.325	0.33	Neutral	Sum of parts