Daiwa House - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/25	DBS Vickers	Daiwa House	0.585	0.65	Buy	DCF
03/25/25	Lim & Tan	Daiwa House	0.56	0.65	Accumulate
05/09/25	DBS Vickers	Daiwa House	0.575	0.65	Buy	DCF
08/08/25	DBS Vickers	Daiwa House	0.575	0.65	Buy	DCF
08/11/25	DBS Vickers	Daiwa House	0.58	0.63	Buy	DCF
03/02/26	DBS Vickers	Daiwa House	0.56	0.63	Buy	DCF

Dairy Farm - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/12/25	UOB Kay Hian	Dairy Farm	2.1	2.8	Buy	PER16.3x
03/12/25	CIMB	Dairy Farm	2.1	2.71	Add
03/14/25	DBS Vickers	Dairy Farm	2.25	3	Buy
03/14/25	DMG & Partners	Dairy Farm	2.25	2.79	Buy	Sum of parts
04/02/25	DMG & Partners	Dairy Farm	2.33	3.03	Buy	Sum of parts
04/08/25	UOB Kay Hian	Dairy Farm	2.11	2.8	Buy	PER16.3x
05/20/25	DBS Vickers	Dairy Farm	2.69	3	Buy
05/20/25	Lim & Tan	Dairy Farm	2.69	2.9	Hold
06/02/25	DBS Vickers	Dairy Farm	2.76	3	Buy
06/02/25	CIMB	Dairy Farm	2.76	3	Add	PER
06/04/25	UOB Kay Hian	Dairy Farm	2.65	3.5	Buy	PER20.3x
06/09/25	DBS Vickers	Dairy Farm	2.66	3.6	Buy	PER16.7x FY26
06/30/25	DMG & Partners	Dairy Farm	3.73	3.09	Buy	Sum of parts
07/23/25	DBS Vickers	Dairy Farm	3.16	3.6	Buy	PER16.7x FY26
07/24/25	UOB Kay Hian	Dairy Farm	3.45	4.3	Buy	PER22.7x
07/24/25	DBS Vickers	Dairy Farm	3.45	4.3	Buy	PER18x
07/24/25	CIMB	Dairy Farm	3.45	3.86	Add
08/07/25	DMG & Partners	Dairy Farm	3.49	4.05	Buy	Sum of parts
08/22/25	DBS Vickers	Dairy Farm	3.16	3.9	Buy	PER18x FY26
08/25/25	UOB Kay Hian	Dairy Farm	3.12	4.3	Buy	PER22.7x
09/23/25	DBS Vickers	Dairy Farm	3.22	3.9	Buy	PER18x FY26
10/30/25	DMG & Partners	Dairy Farm	3.41	4.05	Buy	Sum of parts
10/31/25	DBS Vickers	Dairy Farm	3.39	3.9	Buy	PER18x FY26
10/31/25	CIMB	Dairy Farm	3.39	4	Add	PER
11/26/25	DMG & Partners	Dairy Farm	3.41	4.05	Buy	Sum of parts
12/04/25	DBS Vickers	Dairy Farm	3.67	4.5	Buy	PER21x FY26
01/05/26	UOB Kay Hian	Dairy Farm	3.93	4.3	Buy	PER22.7x
01/19/26	UOB Kay Hian	Dairy Farm	3.94	5.3	Buy	PER25.1x
02/02/26	UOB Kay Hian	Dairy Farm	4.12	5.3	Buy	PER25.1x
03/04/26	DBS Vickers	Dairy Farm	4.14	4.5	Buy	PER21x FY26
03/05/26	UOB Kay Hian	Dairy Farm	4.3	5.6	Buy	PER25.2x
03/05/26	DBS Vickers	Dairy Farm	4.3	5	Buy	PER23x FY26
03/05/26	CIMB	Dairy Farm	4.3	4.9	Add	PER
03/12/26	CIMB	Dairy Farm	4.75	5.5	Add	PER

Stock calls for 17 April 2026

Date	Analyst	Company	Last	Target	Call	Valuation
04/17/26	Lim & Tan	Comfortdelgro	1.48	1.68	Accumulate on weakness
04/17/26	Amfrasers	Info-Tech System	1	1.4	Buy	PER15.5x FY27
04/17/26	UOB Kay Hian	Keppel DC Reit	2.36	2.9	Buy	DDM
04/17/26	Phillip	Keppel DC Reit	2.36	2.37	Accumulate	DDM
04/17/26	Amfrasers	Kin Global	0.23	0.28	outperform	Sum of parts
04/17/26	Lim & Tan	Zixin	0.032	0.066	Buy	PER10x FY26

Singapore minister Vivian has screwed up again! - Part 4

There seemed to be an incestuous discourse and a warped legal principle propaganda being spread among SG ministers and this could be a dangerous political posturing ante by Singapore.  Why? This is because SG doesn't have a solid justification under UNCLOS.

We've stated previously that SG was wrong to cite UNCLOS because UNCLOS was primary for peacetime and not wartime activities.

Let's use AI to explain this.

It is crystal clear that the wartime activities will supersede peacetime rules and regulations, and the peacetime laws will be subjected to different interpretations during a war.  Hormuz is part of a war zone and Iran can cite the maritime blockage as part of self-defence during a war.

How long can SG insist on its warped legal principle when everyone is paying a Hormuz toll after the Iran war?  This is a likely phenomenon or outcome because the US will allow Iran to collect a Hormuz toll for its own reparation since the US won't compensate Iran for the illegal US attack against Iran.

Who is the largest terrorist state-sponsor in the world?

Bessent had embarked on a smearing campaign against Iran on media when the US was the largest terrorista state-sponsor in the world.

To set the record straight, ISIS and Al Qaeda are sponsored by Israel and the US.

The Iran war situation report. - Part 48

The proposed 2-week ceasefire was just a decoy and the truth was that the US used this decoy to get extra time to arrange for more military deployments.

It looks like the world is in the eye of the storm right now with this 2-week ceasefire plan and more military actions will be taken against Iran thereafter.

As usual, Trump likes to start his mlitary actions on weekends because the financial markets are closed.

CSOP iEdge SREIT ETF - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/21/25	phillip	CSOP iEdge SREIT ETF	0.785	0.815	Accumulate
04/08/26	phillip	CSOP iEdge SREIT ETF	0.727	0.755	Accumulate	Sum of parts

CSE Global - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/21/25	Amfrasers	CSE Global	0.465	0.6	Outperform	DCF
03/21/25	Kim Eng	CSE Global	0.465	0.67	Buy
05/06/25	Lim & Tan	CSE Global	0.425	0.62	Accumulate on weakness
05/06/25	Kim Eng	CSE Global	0.425	0.58	Buy
05/16/25	UOB Kay Hian	CSE Global	0.445	0.61	Buy	PER11x FY25
05/22/25	DMG & Partners	CSE Global	0.44	0.63	Buy
05/23/25	CIMB	CSE Global	0.44	0.68	Add
06/30/25	Kim Eng	CSE Global	0.55	0.7	Buy
07/17/25	Kim Eng	CSE Global	0.63	0.7	Buy
08/08/25	UOB Kay Hian	CSE Global	0.695	0.85	Buy	PER15.6x FY25
08/18/25	CIMB	CSE Global	0.645	0.86	Add	PER
09/05/25	DMG & Partners	CSE Global	0.69	0.86	Buy
09/22/25	CIMB	CSE Global	0.725	0.86	Add	PER
10/14/25	UOB Kay Hian	CSE Global	0.73	0.85	Buy	PER15.6x FY25
10/21/25	Kim Eng	CSE Global	0.665	0.84	Buy	PER
11/06/25	Amfrasers	CSE Global	0.85	0.73	Underperform	DCF
11/12/25	UOB Kay Hian	CSE Global	0.88	1.22	Buy	PER21x FY26
11/12/25	CIMB	CSE Global	0.88	1.15	Add	PER
11/12/25	Kim Eng	CSE Global	0.88	1.2	Buy
11/20/25	Lim & Tan	CSE Global	0.97	1.2	Accumulate
11/28/25	DMG & Partners	CSE Global	0.95	1.22	Buy	PER21x FY26
12/10/25	Amfrasers	CSE Global	0.91	1.08	Outperform	DCF
12/16/25	Lim & Tan	CSE Global	0.91	1.2	Accumulate
01/05/26	UOB Kay Hian	CSE Global	1.03	1.22	Buy	PER21x FY26
01/14/26	DMG & Partners	CSE Global	1.07	1.22	Buy	PER21x FY26
01/30/26	Beansprout	CSE Global	1.15	1.4	Buy
02/02/26	UOB Kay Hian	CSE Global	1.12	1.22	Buy	PER21x FY26
02/11/26	CIMB	CSE Global	1.24	1.5	Add	PER
02/19/26	Lim & Tan	CSE Global	1.27	1.3	Hold
03/02/26	CIMB	CSE Global	1.32	1.5	Add	PER
03/03/26	UOB Kay Hian	CSE Global	1.29	1.43	Buy	PER25x FY26
03/10/26	Amfrasers	CSE Global	1.24	1.79	Outperform	DCF
04/10/26	Lim & Tan	CSE Global	1.24	1.54	Accumulate

Cosmosteel - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/04/25	Lim & Tan	Cosmosteel	0.225	0.2	Hold	Offer price $0.20
06/24/25	Lim & Tan	Cosmosteel	0.23	0.25	Accept Offer	Offer price $0.25
07/25/25	Lim & Tan	Cosmosteel	0.25	0.25	Accept Offer	Offer price $0.25

Stock calls for 16 April 2026

Date	Analyst	Company	Last	Target	Call	Valuation
04/16/26	Lim & Tan	Beng Kuang Marine	0.45	0.535	Buy	PER12x FY26/27
04/16/26	UOB Kay Hian	DBS	57.7	67.55	Buy	GGM, PB2.7x FY26
04/16/26	DBS Vickers	Keppel DC Reit	2.33	2.6	Buy
04/16/26	JPM	Keppel DC Reit	2.33	2.55	Buy
04/16/26	DBS Vickers	MoneyMax	0.845	1.13	Unrated	PER11.5x FY26
04/16/26	UOB Kay Hian	OCBC	22.88	25.3	Buy	GGM, PB1.79x FY26
04/16/26	UOB Kay Hian	SIA	6.57	6.64	Hold	PB1.27x FY27
04/16/26	DBS Vickers	SIA	6.65	7.5	Hold	EV/Ebitda4.7x FY26
04/16/26	CIMB	SIA	6.65	6.8	Hold	PB
04/16/26	DBS Vickers	Starhub	1.05	0.94	Fully Valued	Sum of parts
04/16/26	DBS Vickers	Suntec Reit	1.52	1.6	Buy
04/16/26	CIMB	UMS	1.79	2.23	Add
04/16/26	CIMB	UOB	37.59	38.7	Hold	GGM