The Iran war situation report. - Part 94

Why did the US halt its strikes first?

The US halted its strikes against Iran because it was running out of missiles and also is suffering massive military losses (fighter jets, drones, weaponry) that are caused by Iran strikes.  Furthermore, there's no strategic targets to hit anymore in Iran as most of the strategic assets are deep underground and the US can't reach them.

Conversely, Iran also stopped its retaliation to preserve its weaponry for future strikes against the US.

Just as we've projected, the US couldn't defeat Iran just by some airstrikes and bombings, and Iran won't relent until justic is served.

Consequently, the underdog, Houthis (Yemen), has participated in the Iran war by bombing Saudi Arabia's oil refinery in addition to its red sea blockage.

It looks like the gulf situation is escalating and getting out of control.  If the US doesn't stop this illegal war, things may go south in a fast and furious manner.

The Iran war situation report. - Part 93

Trump has carried out his threats (wider Iranian attacks) by bombing Iran from south to north.

Despite the incessant US bombings and missile strikes, Iran has rejected the US peace deal propositon because Iran knows that it can outlast the US and the US allies in the Gulf.  This proves that Iran is adamant and has a strong resolve to degrade the US military power in the Gulf.  Thereafter, the US will stop when it runs out of its missiles and bombs.

CNMC - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/15/25	phillip	CNMC	0.64	0.7	Buy	DCF, PER9.1x FY25
09/04/25	SAC Capital	CNMC	0.775	1.13	Buy	PER
10/03/25	phillip	CNMC	1.15	1.34	Buy	DCF, PER12.2x FY25
01/19/26	phillip	CNMC	1.16	1.47	Buy	PER11.2x
01/21/26	Lim & Tan	CNMC	1.24	1.53	Buy	PER12.2x FY26
03/03/26	phillip	CNMC	1.99	2.34	Buy
03/16/26	SAC Capital	CNMC	1.71	2.41	Buy
07/10/26	Lim & Tan	CNMC	1.17	1.9	Buy	PER

Civmec - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/29/25	Lim & Tan	Civmec	0.945	0	Accumulate on weakness
10/07/25	Lim & Tan	Civmec	1.14	0	Accumulate
01/05/26	Lim & Tan	Civmec	1.16	1.35	Accumulate
02/13/26	Lim & Tan	Civmec	1.36	0	Accumulate on weakness
05/18/26	Lim & Tan	Civmec	1.47	0	Accumulate on weakness
06/08/26	Lim & Tan	Civmec	1.56	1.61	Accumulate on weakness

City Developments - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/14/25	UOB Kay Hian	City Developments	6.8	8.5	Buy	PB0.8x
08/14/25	DBS Vickers	City Developments	6.8	9	Buy	RNAV (50% disc)
08/14/25	Lim & Tan	City Developments	6.8	6.8	Hold
08/18/25	phillip	City Developments	6.63	8.34	Buy	RNAV (35% disc)
10/08/25	DBS Vickers	City Developments	7.13	9	Buy	RNAV (50% disc)
10/08/25	JPM	City Developments	7.13	8.2	Overweight
11/18/25	CIMB	City Developments	7.31	8.97	Add	RNAV
11/18/25	Lim & Tan	City Developments	7.31	8.51	Hold
11/20/25	phillip	City Developments	7.22	8.34	Buy	RNAV (35% disc)
11/20/25	HSBC	City Developments	7.22	11	Overweight
11/20/25	Citi Research	City Developments	7.22	9.01	Buy	RNAV (40% disc)
11/26/25	DMG & Partners	City Developments	7.09	8.5	Buy
12/04/25	Lim & Tan	City Developments	7.31	8.12	Hold
12/22/25	DMG & Partners	City Developments	7.98	8.5	Buy
01/05/26	UOB Kay Hian	City Developments	8.02	8.5	Buy	PB0.8x
01/05/26	DMG & Partners	City Developments	8.02	9.5	Buy
01/07/26	JPM	City Developments	8.39	10.75	Overweight
01/16/26	DBS Vickers	City Developments	8.95	11.8	Buy	RNAV (35% disc)
01/21/26	UOB Kay Hian	City Developments	9.1	11.5	Buy	RNAV (15% disc)
01/21/26	Lim & Tan	City Developments	9.1	8.69	Hold
02/02/26	UOB Kay Hian	City Developments	9.28	11.5	Buy	RNAV (15% disc)
02/02/26	DBS Vickers	City Developments	9.28	11.8	Buy	RNAV (35% disc)
02/02/26	Citi Research	City Developments	9.28	12.63	Buy
03/02/26	UOB Kay Hian	City Developments	9.82	11.5	Buy	RNAV (15% disc)
03/02/26	DBS Vickers	City Developments	9.82	12	Buy	RNAV (35% disc)
03/02/26	Lim & Tan	City Developments	9.82	10.22	Accumulate on weakness
03/05/26	phillip	City Developments	9.16	11.32	Buy	RNAV (25% disc)
03/16/26	JPM	City Developments	9.03	8.7	Neutral
04/01/26	Lim & Tan	City Developments	8.21	10.28	Accumulate on weakness
04/23/26	DMG & Partners	City Developments	8.77	11.2	Buy
04/23/26	Citi Research	City Developments	8.77	11.53	Buy	RNAV (17% disc)
05/04/26	UOB Kay Hian	City Developments	8.16	11.5	Buy	RNAV (15% disc)
05/19/26	DBS Vickers	City Developments	7.84	12	Buy	RNAV (35% disc)
05/25/26	phillip	City Developments	8.17	11.32	Buy	RNAV (25% disc)
06/02/26	DMG & Partners	City Developments	8.58	11.2	Buy
06/03/26	UOB Kay Hian	City Developments	8.44	11.5	Buy	RNAV (15% disc)
06/16/26	JPM	City Developments	8.63	10.45	Overweight

Stock calls for 24 July 2026

Date	Analyst	Company	Last	Target	Call	Valuation
07/24/26	DMG & Partners	CSE Global	1.24	1.94	Buy
07/24/26	UOB Kay Hian	Keppel DC Reit	2.3	2.95	Buy	DDM
07/24/26	DBS Vickers	Keppel DC Reit	2.3	2.8	Buy
07/24/26	DBS Vickers	Mapletree Industrial	1.93	2.05	Hold	DCF
07/24/26	Lim & Tan	Mapletree Industrial	1.93	2.02	Hold
07/24/26	phillip	OUE Commercial	0.38	0.45	Buy	DDM
07/24/26	DBS Vickers	SGX	23.7	26.4	Buy	PER34x FY27
07/24/26	UOB Kay Hian	SIA Engineering	3.27	3.75	Buy	PER21.2x FY28
07/24/26	DBS Vickers	SIA Engineering	3.27	3.8	Buy	PER21x FY27 & DCF
07/24/26	CIMB	SIA Engineering	3.27	3.8	Add
07/24/26	DBS Vickers	Suntec Reit	1.51	1.6	Buy
07/24/26	OCBC	Suntec Reit	1.51	1.46	Hold
07/24/26	Lim & Tan	Suntec Reit	1.51	1.7	Accumulate

The Iran war situation report. - Part 92

Initially, there was only a blockage of the red sea but this had escalated to real attacks because some shippers were ignoring the Houthis' threats.

Then, Trump vowed to punish Iran for the Houthi attacks but this would only cause a stronger Iran response.

Both the Houthi attacks and Trump's threat have pushed the crude oil above $100 (see below) now.

China Sunsine - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/03/25	UOB Kay Hian	China Sunsine	0.745	0.75	Buy	PER9.4x FY26
11/05/25	Lim & Tan	China Sunsine	0.7	0.75	Watchlist
11/21/25	UOB Kay Hian	China Sunsine	0.795	0.95	Buy	PER11x FY26
02/02/26	UOB Kay Hian	China Sunsine	0.73	0.95	Buy	PER11x FY26
03/03/26	UOB Kay Hian	China Sunsine	0.705	0.7	Hold	PER9x FY26
07/03/26	Amfrasers	China Sunsine	0.68	1.145	Outperform	DCF

China Aviation Oil - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/18/25	Phillip	China Aviation Oil	1.23	1.5	Buy	DCF
08/19/25	CIMB	China Aviation Oil	1.22	1.45	Add
09/17/25	Phillip	China Aviation Oil	1.39	1.5	Buy
10/10/25	CIMB	China Aviation Oil	1.33	1.52	Add	PER
10/17/25	Phillip	China Aviation Oil	1.28	1.5	Buy
10/29/25	DBS Vickers	China Aviation Oil	1.32	1.75	Buy	PER10.8x FY26
01/09/26	Lim & Tan	China Aviation Oil	1.65	1.8	Accumulate
01/14/26	UOB Kay Hian	China Aviation Oil	1.74	2.09	Buy	PER14.5x FY26
02/02/26	UOB Kay Hian	China Aviation Oil	1.75	2.09	Buy	PER14.5x FY26
03/09/26	UOB Kay Hian	China Aviation Oil	1.83	2.63	Buy	PER15x FY26
03/12/26	Phillip	China Aviation Oil	1.95	2.53	Buy	PER11.2x FY26
03/18/26	DBS Vickers	China Aviation Oil	2.03	2.5	Buy	PER14x FY26
05/04/26	UOB Kay Hian	China Aviation Oil	2.12	2.63	Buy	PER15x FY26
06/03/26	UOB Kay Hian	China Aviation Oil	1.85	2.63	Buy	PER15x FY26
06/03/26	OCBC	China Aviation Oil	1.85	2.48	Buy
07/10/26	CIMB	China Aviation Oil	1.77	2.68	Add	Sum of parts
07/13/26	Phillip	China Aviation Oil	1.72	2.53	Buy	PER11.2x FY26