Spindex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/29/25	Lim & Tan	Spinidex	1.34	1.43	Wait	Offer @ $1.43

Stock calls for 19 June 2026

Date	Analyst	Company	Last	Target	Call	Valuation
06/19/26	Lim & Tan	ASL Marine	0.315	0.47	Buy	PER12x FY27
06/19/26	Kim Eng	CSE Global	1.43	2.25	Buy
06/19/26	UOB Kay Hian	Food Empire	2.5	3.49	Buy	PER25x FY26, Ex-Bonus (1 for 5)
06/19/26	Kim Eng	Olam	1.28	1.6	Buy	EV/Ebitda
06/19/26	Kim Eng	SGX	24.5	25.25	Buy
06/19/26	CIMB	Soilbuild Construction	0.79	1.1	Add	Sum of parts

Soon Hock - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/27/25	UOB Kay Hian	Soon Hock	0.59	0.68	Buy	PB1x FY26
01/14/26	Kim Eng	Soon Hock	0.63	0.75	Buy
01/14/26	UOB Kay Hian	Soon Hock	0.63	0.65	Buy	PB0.9x FY26
01/20/26	UOB Kay Hian	Soon Hock	0.635	0.71	Buy	PB1.2x FY26
02/11/26	UOB Kay Hian	Soon Hock	0.645	0.71	Buy	PB1.2x FY26
02/25/26	Kim Eng	Soon Hock	0.665	0.75	Buy
03/05/26	Kim Eng	Soon Hock	0.62	0.78	Buy	RNAV
03/12/26	UOB Kay Hian	Soon Hock	0.61	0.71	Buy	PB1.2x FY26
04/22/26	uSMART	Soon Hock	0.635	0.72	Buy

Soilbuild Construction - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/17/25	Lim & Tan	Soilbuild Construction	0.77	0	Accumulate on weakness
04/14/25	Phillip	Soilbuild Construction	0.83	0.97	Accumulate	PER3.5x FY26
05/07/25	SAC Capital	Soilbuild Construction	0.81	1.1	Buy
07/03/25	Lim & Tan	Soilbuild Construction	0.865	0.97	Accumulate
08/15/25	Phillip	Soilbuild Construction	1.86	2.68	Buy	PER5.9x FY26
09/29/25	Phillip	Soilbuild Construction	2.73	3.41	Buy	PER7.5x FY26
10/07/25	CIMB	Soilbuild Construction	3.19	4.21	Add	PER
10/15/25	DBS Vickers	Soilbuild Construction	3.33	4.7	Unrated	PER12x FY26
10/31/25	Phillip	Soilbuild Construction	3.49	3.41	Neutral	PER13x FY26
01/16/26	CIMB	Soilbuild Construction	0.88	1.2	Add	Stock split 1 for 4
02/12/26	Phillip	Soilbuild Construction	1	1.4	Buy	PER
03/02/26	CIMB	Soilbuild Construction	1.02	1.2	Add	PER
03/04/26	Phillip	Soilbuild Construction	0.96	1.4	Buy	PER10.5x FY26
03/12/26	DBS Vickers	Soilbuild Construction	0.985	1.25	Unrated	PER10.1x FY27

Skylink - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/18/25	DMG & Partners	Skylink	0.295	0.44	Buy
02/26/26	Amfrasers	Skylink	0.295	0.44	Outperform	DCF
04/08/26	Lim & Tan	Skylink	0.24	0.47	Accumulate
05/26/26	Lim & Tan	Skylink	0.265	0.36	Buy

Stock calls for 18 June 2026

Date	Analyst	Company	Last	Target	Call	Valuation
06/18/26	Lim & Tan	Centurion	1.51	1.81	Accumulate
06/18/26	Lim & Tan	Keppel Corp	11.37	12.66	Buy
06/18/26	CIMB	SATS	4.18	5.2	Add

What will the US Fed do for its June FOMC meeting? - Part 2

 
The US Fed has hold its rates as expected but 50% of its members are expecting a hike this year (as shown on dot plot).  In other words, there won't be any easing for this year anymore.

Singapore NODX spiked significantly in May 2026.

https://tradingeconomics.com/singapore/domestic-exports-of-non-oil-nodx-pctyoy/news/559485

Year-on-year changes:

May 2026: 38.4%

April 2026: 24.4%

March 2026: 15.3%

February 2026: 4%

January  2026: 9.3%

December 2025: 6.1%

November 2025: 11.5%

October 2025: 22.2%

September 2025: 6.9%

August 2025: -11.3%

July 2025: -4.6%

June 2025: 13%

May 2025: -3.5%

April 2025:12.4%

March 2025: 5.4%

February 2025: 7.6%

January 2025: -2.1%

December 2024: 9%

November 2024: 3.4%

October 2024: -4.6%

September 2024: 2.7%

August 2024: 10.7%

July 2024: 15.7%

June 2024: -8.7%

May 2024: -0.1%

April 2024: -9.6%

March 2024: -20.7%

February 2024: -0.1%

January 2024: +16.8%

Singtel - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/28/25	UOB Kay Hian	Singtel	3.4	3.6	Buy	DCF
04/21/25	Kim Eng	Singtel	3.75	3.96	Buy	Sum of parts
04/24/25	DMG & Partners	Singtel	3.76	3.8	Buy	Sum of parts
05/05/25	DBS Vickers	Singtel	3.8	3.93	Buy	Sum of parts (20% disc)
05/14/25	CIMB	Singtel	3.71	4	Hold
05/20/25	DBS Vickers	Singtel	3.79	4.27	Buy	Sum of parts (15% disc)
05/22/25	Lim & Tan	Singtel	3.85	4	Accumulate on weakness
05/23/25	UOB Kay Hian	Singtel	3.95	4.58	Buy	Sum of parts
05/23/25	DBS Vickers	Singtel	3.95	4.4	Buy	Sum of parts
05/23/25	Citi Research	Singtel	3.95	4.3	Buy
05/26/25	Phillip	Singtel	3.88	4.4	Accumulate	EV/Ebitda7x
05/26/25	DMG & Partners	Singtel	3.88	4.5	Buy
05/26/25	OCBC	Singtel	3.88	4.51	Buy	Up from $4
06/17/25	CIMB	Singtel	3.95	4.1	Hold
06/19/25	DBS Vickers	Singtel	3.97	4.3	Buy	Sum of parts
06/19/25	Kim Eng	Singtel	3.97	4.3	Buy
06/20/25	DBS Vickers	Singtel	3.91	4.58	Buy	EV/Ebitda18.5x
06/20/25	HSBC	Singtel	3.91	4.45	Buy
07/01/25	Lim & Tan	Singtel	3.82	4.4	Accumulate
07/11/25	UOB Kay Hian	Singtel	4.01	4.58	Buy	Sum of parts
07/11/25	Citi Research	Singtel	4.01	4.46	Buy
07/22/25	DMG & Partners	Singtel	4.15	4.7	Buy
08/06/25	DMG & Partners	Singtel	4	4.7	Buy
08/07/25	Kim Eng	Singtel	4.01	4.3	Buy
08/14/25	UOB Kay Hian	Singtel	4.06	4.56	Buy	Sum of parts
08/14/25	Phillip	Singtel	4.06	4.4	Accumulate	Ev/Ebitda7x
08/14/25	DBS Vickers	Singtel	4.06	4.58	Buy	Sum of parts (15% disc)
08/15/25	Lim & Tan	Singtel	4.07	4.4	Accumulate
08/15/25	DMG & Partners	Singtel	4.07	4.7	Buy
08/22/25	DBS Vickers	Singtel	4.11	5.04	Buy	Sum of parts (10% disc)
09/01/25	Phillip	Singtel	4.31	4.86	Accumulate	Ev/Ebitda8x
09/02/25	CIMB	Singtel	4.33	4.8	Add
09/02/25	HSBC	Singtel	4.33	4.75	Buy
09/08/25	DMG & Partners	Singtel	4.39	4.9	Buy
09/10/25	Kim Eng	Singtel	4.31	4.75	Buy
09/19/25	OCBC	Singtel	4.35	5.1	Buy
09/30/25	Kim Eng	Singtel	4.12	4.62	Buy	Sum of parts
09/30/25	Citi Research	Singtel	4.12	4.92	Buy
10/30/25	DMG & Partners	Singtel	4.31	4.9	Buy
11/07/25	DBS Vickers	Singtel	4.5	5.04	Buy	Sum of parts (10% disc)
11/07/25	Kim Eng	Singtel	4.5	4.62	Buy	Sum of parts
11/10/25	Lim & Tan	Singtel	4.63	4.73	Accumulate on weakness
11/12/25	Lim & Tan	Singtel	4.62	5	Accumulate on weakness
11/13/25	UOB Kay Hian	Singtel	4.72	5.2	Buy	Sum of parts
11/13/25	CIMB	Singtel	4.72	5.2	Add	PER
11/17/25	Phillip	Singtel	4.86	5.35	Accumulate
12/09/25	Citi Research	Singtel	4.56	5.08	Buy	Sum of parts
12/12/25	DBS Vickers	Singtel	4.56	5.71	Buy	Sum of parts
12/19/25	Lim & Tan	Singtel	4.53	5.18	Accumulate on weakness
12/22/25	DMG & Partners	Singtel	4.54	5.2	Buy
01/14/26	DBS Vickers	Singtel	4.5	5.71	Buy	Sum of parts (10% disc)
01/14/26	JPM	Singtel	4.5	5.2	Overweight
02/02/26	DMG & Partners	Singtel	4.59	5.2	Buy
02/04/26	DBS Vickers	Singtel	4.86	5.71	Buy	Sum of parts (10% disc)
02/05/26	UOB Kay Hian	Singtel	4.91	5.2	Buy	Sum of parts
02/05/26	Phillip	Singtel	4.91	5.35	Accumulate
02/05/26	CIMB	Singtel	4.91	5.34	Add	RNAV
02/13/26	UOB Kay Hian	Singtel	5	5.5	Buy	Sum of parts
02/13/26	DMG & Partners	Singtel	5	5.5	Buy
02/13/26	HSBC	Singtel	5	5.2	Buy	Up from $5.15
02/16/26	Phillip	Singtel	4.91	5.35	Accumulate
03/09/26	JPM	Singtel	5	5.8	Overweight
03/10/26	UOB Kay Hian	Singtel	4.95	5.5	Buy	Sum of parts
03/19/26	DBS Vickers	Singtel	5.13	5.71	Buy	Sum of parts (10% disc)
03/23/26	DBS Vickers	Singtel	5.21	5.36	Hold	Sum of parts (10% disc)
04/13/26	Kim Eng	Singtel	4.88	5.25	Buy	Sum of parts
04/23/26	DMG & Partners	Singtel	4.78	5.5	Buy
05/21/26	DBS Vickers	Singtel	5.02	5.36	Hold	Sum of parts (10% disc)
05/21/26	Lim & Tan	Singtel	5.02	5.5	Buy
05/22/26	UOB Kay Hian	Singtel	4.7	5.5	Buy	Sum of parts
05/25/26	Phillip	Singtel	4.59	5.2	Accumulate	Sum of parts
05/26/26	DBS Vickers	Singtel	4.54	5.46	Buy	Sum of parts (10% disc)