Pan-United - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/10/21	phillip	PanUnited	0.33	0.44	Buy	EV/Ebitda7.8x FY21
01/06/22	Lim & Tan	PanUnited	0.335	0.5	Buy
03/14/22	Lim & Tan	PanUnited	0.35	0	Buy
03/14/22	phillip	PanUnited	0.35	0.46	Buy	PER16x FY22
03/21/22	Lim & Tan	PanUnited	0.35	0.54	Buy	EV/Ebitda5.6x
03/30/22	CIMB	PanUnited	0.385	0.53	Add	PER12.3x
03/30/22	SAC Capital	PanUnited	0.385	0.56	Buy	EV/Ebitda6.6x FY23
04/07/22	CIMB	PanUnited	0.41	0.56	Add
05/05/22	CIMB	PanUnited	0.4	0.56	Add
06/13/22	phillip	PanUnited	0.43	0.68	Buy	PER12x FY22
06/13/22	SAC Capital	PanUnited	0.43	0.53	Buy
07/15/21	Lim & Tan	PanUnited	0.465	0.68	Accumulate
08/05/22	CIMB	PanUnited	0.45	0.57	Add
08/11/22	SAC Capital	PanUnited	0.445	0.53	Buy
08/12/22	phillip	PanUnited	0.45	0.54	Buy	PER12x FY22
08/22/22	Lim & Tan	PanUnited	0.44	0.54	Buy
09/22/22	CIMB	PanUnited	0.43	0.57	Add
09/23/22	Lim & Tan	PanUnited	0.43	0.54	Buy	EV/Ebitda6.9x

Oxpay - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/16/21	Amfrasers	Oxpay	0.29	0.42	Outperform	PER25x FY22
03/15/22	Amfrasers	Oxpay	0.153	0.3	Outperform	PER18x FY22

Oxley - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/31/21	UOB Kay Hian	Oxley	0.22	0.28	Buy	RNAV (40% discount)
12/17/21	Lim & Tan	Oxley	0.183	0.28	Buy

Stock calls for 2 November 2022

Date	Analyst	Company	Last	Target	Call	Valuation
11/02/22	UOB Kay Hian	ART	0.96	1.27	Buy	DDM
11/02/22	Kim Eng	Aztech	0.8	0.83	Hold
11/02/22	Phillip	First Sponsor	1.24	1.39	Accumulate	Sum of parts
11/02/22	Kim Eng	Frencken	0.875	1.05	Hold
11/02/22	UOB Kay Hian	Japfa	0.53	0.57	Hold	Sum of parts, PER10.3x FY23
11/02/22	CIMB	Japfa	0.53	0.72	Add	Sum of parts
11/02/22	CIMB	LHN	0.145	0.16	Add
11/02/22	DBS Vickers	Manulife US Reit	0.355	0.7	Buy
11/02/22	Lim & Tan	Parkway Life	3.97	4.7	Hold
11/02/22	DMG & Partners	Raffles Medical	1.34	1.65	Buy	DCF
11/02/22	Citi Research	SIA	5.31	5.19	Neutral	PB1.2x FY24
11/02/22	CIMB	SIA	5.31	6.1	Add	PB0.9x FY24
11/02/22	DBS Vickers	SIA Engineering	2.22	2.65	Hold
11/02/22	Lim & Tan	SIA Engineering	2.22	0	Hold
11/02/22	Kim Eng	Venture	16.2	19.55	Buy

The FED is expected to raise another 75bp in November 2022.

As projected by the Fedwatch tool, the FED is expected to raise its rates to 3.75-4% (75bp) in November 2022.  The issue is not the Fed's 75bp hike but rather its continual aggressive hike path in the future.  The Fed's outlook will be very important to watch out for this upcoming meeting.

Overseas Edu - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/19/21	Lim & Tan	Overseas Edu	0.26	0	Hold
02/03/22	Lim & Tan	Overseas Edu	0.255	0	Hold
04/12/22	Lim & Tan	Overseas Edu	0.255	0	Hold