Singapore Paincare - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/05/25	SIAS	Singapore Paincare	0.157	0.365	Hold	Offer @ $0.16

Singapore Land - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/04/25	DBS Vickers	Singapore Land	2.12	2.6	Buy

Stock calls for 11 December 2025

Date	Analyst	Company	Last	Target	Call	Valuation
12/11/25	DMG & Partners	Delfi	0.82	0.94	Buy	PER13x FY26
12/11/25	phillip	OCBC	18.95	20	Accumulate
12/11/25	UOB Kay Hian	Valuetronics	0.865	1.03	Buy	PER13x FY27

The US Fed reduced its rates by 25bps as expected.

The latest Fed dot plot chart is shown below.

The economic projections show that the US core PCE inflation will only fall to its neutral rate of 2% in 2028.  However, this is a low possibility because the 5-year inflation expectation is way above 3%.

Sinarmas - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/28/25	Lim & Tan	Sinarmas	0.275	0.31	Reject Offer	Cash offer $0.31

Sin Heng - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/21/25	SIAS	Sin Heng	0.58	0	Reject Offer	Offer @ $0.58

SIA Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/17/25	UOB Kay Hian	SIA Engineering	2.35	2.7	Buy	DCF
02/17/25	Lim & Tan	SIA Engineering	2.35	2.6	Hold
04/08/25	UOB Kay Hian	SIA Engineering	1.96	2.7	Buy	DCF
05/13/25	DBS Vickers	SIA Engineering	2.28	2.5	Hold
05/13/25	Lim & Tan	SIA Engineering	2.28	2.6	Accumulate
05/14/25	UOB Kay Hian	SIA Engineering	2.32	2.7	Buy	DCF
05/14/25	CIMB	SIA Engineering	2.32	2.7	Add	PER
05/15/25	DBS Vickers	SIA Engineering	2.35	2.8	Buy	DCF & PER19x FY26
05/22/25	CIMB	SIA Engineering	2.55	3.1	Add	PER
05/23/25	Amfrasers	SIA Engineering	2.57	2.83	Outperform	DCF
05/30/25	OCBC	SIA Engineering	2.72	3	Buy
06/13/25	DBS Vickers	SIA Engineering	3.07	3.5	Buy	PER21x FY26
06/16/25	OCBC	SIA Engineering	3.08	3.5	Buy
07/23/25	UOB Kay Hian	SIA Engineering	3.35	3.41	Hold	PER20.9x FY27
07/23/25	DBS Vickers	SIA Engineering	3.35	3.5	Buy	PER21x FY26
07/24/25	CIMB	SIA Engineering	3.27	3.1	Reduce
07/25/25	OCBC	SIA Engineering	3.3	3.5	Hold
09/15/25	phillip	SIA Engineering	3.13	3.83	Buy	PER
10/10/25	DBS Vickers	SIA Engineering	3.61	3.5	Under Review	PER21x FY26
10/17/25	phillip	SIA Engineering	3.43	3.83	Buy
11/05/25	DBS Vickers	SIA Engineering	3.47	3.5	Under Review	PER21x FY26
11/05/25	Lim & Tan	SIA Engineering	3.47	3.66	Accumulate on weakness
11/06/25	UOB Kay Hian	SIA Engineering	3.54	3.92	Buy	PER23.3x FY27
11/06/25	DBS Vickers	SIA Engineering	3.54	4	Buy	PER24x
11/12/25	phillip	SIA Engineering	3.71	4.14	Accumulate

Stock calls for 10 December 2025

Date	Analyst	Company	Last	Target	Call	Valuation
12/10/25	Amfrasers	CSE Global	0.91	1.08	Outperform	DCF
12/10/25	Lim & Tan	Singapore Post	0.42	0.43	Hold

Hot news: PM Sanae is corrupted! - Part 2

Japanese PM Sanae had acknowledged her LDP party did receive illegal donation.  Hahaha!

Japan has provoked China again! - Part 2

The axis of calumny (US & Japan) is at work again by provoking and smearing China.

China aircraft carrier had sent a message to a Japanese warship (116) that it was conducting a flight exercise but Japan still sent 2 F15s to breach China's exercise zone at 52km and 148km away from China J15s.

China had released the radio call message that Japanese 116 warship had acknowledged.

By backing Japan, the US was acknowledging that it was not provocative to breach an aircraft carrier's exercise zone.  Thus, the US must not complain or protest when China breaches the US exercise zone in the future.

SIA - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/16/25	UOB Kay Hian	SIA	6.27	5.8	Sell	PB1.1x FY26
02/18/25	DBS Vickers	SIA	6.42	6	Hold
02/18/25	Citi Research	SIA	6.42	6.34	Hold
02/19/25	Phillip	SIA	6.45	5.25	Reduce	PB1x FY25
02/24/25	Phillip	SIA	6.55	5.73	Neutral	PB1.1x FY25
02/24/25	DBS Vickers	SIA	6.55	6.3	Hold	EV/Ebitda5x FY25/26
02/24/25	OCBC	SIA	6.55	6.5	Hold	PB1.09x FY25
02/25/25	UOB Kay Hian	SIA	6.65	6.09	Hold
03/19/25	Phillip	SIA	6.74	5.74	Neutral	PB1.1x FY25
04/16/25	Phillip	SIA	6.3	5.74	Neutral	PB1.1x FY25
04/17/25	UOB Kay Hian	SIA	6.35	6.22	Hold	PB1.16x FY26
04/24/25	CIMB	SIA	6.59	6	Hold
05/16/25	DBS Vickers	SIA	6.88	6.3	Hold	EV/Ebitda5x FY25/26
05/16/25	CIMB	SIA	6.88	6.88	Hold	PB
05/16/25	Kim Eng	SIA	6.88	6.85	Hold
05/19/25	UOB Kay Hian	SIA	6.9	6.63	Hold	PB1.25x FY26
05/19/25	Phillip	SIA	6.9	6.08	Reduce	PB1.1x FY25
06/12/25	DBS Vickers	SIA	7.06	6.4	Hold	EV/Ebitda5x FY26
06/12/25	Citi Research	SIA	7.06	6.15	Sell
06/16/25	Kim Eng	SIA	6.94	6.85	Hold
06/17/25	UOB Kay Hian	SIA	6.87	6.63	Hold	PB1.25x FY26
06/17/25	Lim & Tan	SIA	6.87	6.73	Hold
07/16/25	Phillip	SIA	7.36	6.08	Reduce	PB1.1x FY25
07/29/25	Kim Eng	SIA	7.6	6.75	Sell
07/29/25	CIMB	SIA	7.6	6.8	Reduce
07/29/25	DBS Vickers	SIA	7.6	6.4	Hold	EV/Ebitda5x FY26
07/29/25	Lim & Tan	SIA	7.6	6.85	Hold
07/29/25	Citi Research	SIA	7.6	6.15	Sell	PB1.15x FY26
07/30/25	UOB Kay Hian	SIA	7.04	6.03	Sell	PB1.17x FY26
07/30/25	Phillip	SIA	7.04	5.94	Reduce	PB1.1x FY25
07/31/25	DBS Vickers	SIA	6.9	6.5	Hold
08/01/25	Phillip	SIA	6.59	5.94	Reduce	PB1.1x FY25
09/15/25	Phillip	SIA	6.54	5.94	Reduce	PB1.1x FY25
09/16/25	UOB Kay Hian	SIA	6.51	6.05	Sell	PB1.17x FY26
10/17/25	UOB Kay Hian	SIA	6.53	6.03	Sell	PB1.17x FY26
10/17/25	Phillip	SIA	6.53	5.94	Reduce	PB1.1x FY25
11/03/25	DBS Vickers	SIA	6.63	6.5	Hold	EV/Ebitda5x FY26
11/14/25	CIMB	SIA	6.65	5.6	Reduce	PB
11/17/25	UOB Kay Hian	SIA	6.52	6.1	Sell	PB1.17x FY27
11/19/25	Lim & Tan	SIA	6.48	6.22	Hold
11/24/25	Phillip	SIA	6.48	6.04	Neutral	PB1.2x FY26

Sheng Siong - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/25	phillip	Sheng Siong	1.64	1.76	Accumulate	PER18x FY25
03/03/25	DBS Vickers	Sheng Siong	1.64	1.9	Buy	PER19x FY25
03/18/25	UOB Kay Hian	Sheng Siong	1.63	1.92	Buy	PER20x FY25
03/18/25	Citi Research	Sheng Siong	1.63	1.9	Buy
04/07/25	Lim & Tan	Sheng Siong	1.65	1.89	Hold
04/08/25	UOB Kay Hian	Sheng Siong	1.59	1.92	Buy	PER20x FY25
04/24/25	DMG & Partners	Sheng Siong	1.76	1.98	Buy
04/30/25	DBS Vickers	Sheng Siong	1.74	1.9	Buy	PER19x FY25
05/02/25	phillip	Sheng Siong	1.76	1.89	Accumulate	PER18x FY25
05/02/25	DBS Vickers	Sheng Siong	1.76	2	Buy	PER19x FY25/26
05/02/25	Citi Research	Sheng Siong	1.76	2.05	Buy	PER20x FY26
05/05/25	UOB Kay Hian	Sheng Siong	1.76	1.97	Buy	PER20x FY25
06/03/25	UOB Kay Hian	Sheng Siong	1.83	1.97	Buy	PER20x FY25
06/10/25	DBS Vickers	Sheng Siong	1.83	2.3	Buy	PER20.9x FY26
06/23/25	OCBC	Sheng Siong	1.89	1.99	Hold
07/03/25	DMG & Partners	Sheng Siong	1.93	2.12	Buy
07/07/25	CIMB	Sheng Siong	1.97	2.21	Add
07/21/25	Kim Eng	Sheng Siong	2.08	2.3	Buy
07/31/25	DBS Vickers	Sheng Siong	2.13	2.3	Buy	PER20.9x FY26
08/01/25	UOB Kay Hian	Sheng Siong	2.1	2.4	Buy	PER23x FY26
08/01/25	phillip	Sheng Siong	2.1	2.3	Accumulate	PER23x FY26
08/01/25	CIMB	Sheng Siong	2.1	2.21	Add
08/06/25	DMG & Partners	Sheng Siong	2.13	2.41	Buy
08/29/25	DBS Vickers	Sheng Siong	2.02	2.3	Buy	PER20.9x FY26
09/26/25	DBS Vickers	Sheng Siong	2.11	2.3	Buy	PER20.9x FY26
10/13/25	Kim Eng	Sheng Siong	2.14	2.3	Buy	PER
10/22/25	DBS Vickers	Sheng Siong	2.18	2.6	Buy	PER23.7x FY26
11/03/25	UOB Kay Hian	Sheng Siong	2.32	2.5	Buy	PER23x FY26
11/03/25	Kim Eng	Sheng Siong	2.32	2.55	Buy
12/05/25	DBS Vickers	Sheng Siong	2.62	2.6	Hold	PER23.7x FY26