Maintain BUY; TP of S$10.50. Our TP of S$10.50 is based on a 35% discount-to-RNAV which implies a 1x P/NAV, slightly above -0.5SD of its historical range. Our TP upsides are mainly from a potential re-rating from the realization of its RNAV with the completion of development assets and potential asset recycling. $CityDev(C09.SI)$   $BIDU-SW(09888)$   $BYD COMPANY(01211)$   $DBS GROUP HOLDINGS LTD(D05.SI)$  

Donald Trump headlined an event billed as the unveiling of a crypto platform promoted by the Republican nominee and his sons, putting the spotlight on a niche digital-asset sector with a history of controversy. On the goal of becoming the key crypto hub, Donald Trump said: “If we don’t do it, China is going to do it. China is doing it anyway. But if we don’t do it, we’re not going to be the biggest, and we have to be the biggest and the best.” $Coinbase Global, Inc.(COIN)$   $Microsoft(MSFT)$   $Riot Platforms(RIOT)$   $NVIDIA Corp(NVDA)$  

At this agreed purchase price, South Beach has an implied property value of $2.75 billion, which is a 3% premium over the valuation of $2.67 billion accorded by Edmund Tie & Company as of last December. City Developments will be selling its 50.1% stake in South Beach development to joint venture partner IOI Properties Group for $834.2 million and book a gain on disposal of some $465 million in the current FY2025. $CityDev(C09.SI)$   $Meta Platforms, Inc.(META)$   $NVIDIA(NVDA)$   $Tiger Brokers(TIGR)$  

City Developments Limited's (CDL) CEO Sherman Kwek is not ruling out the possibility of continuing share buybacks, considering that its current share price levels is at an over 70% discount to its true value. As at the FY2024 ended Dec 31, 2024, CDL's net asset value (NAV) stood at $10.17 per share while its revalued NAV (RNAV) stood at $17.57 per share or $19.68 per share considering its fair value taken all valuation surpluses on portfolio. $CityDev(C09.SI)$   $DBS Group Holdings(D05.SI)$   $TENCENT(00700)$   $Apple(AAPL)$  

$Mapletree PanAsia Com Tr(N2IU.SI)$  $CapitaLandInvest(9CI.SI)$   we believe with CLI’s ambitious $200 billion AUM target and need for major share price catalyst there is could be an urgency to get this deal done. Mapletree on the other hand has been facing challenges from its overseas markets and thus in our view maybe more open for such a merger. 

Tigers check out the current TA for Alibaba,  tell us what you see ?!!  Seem like now the MACD is going to execute a BULLISH CROSSOVER TODAY !  Share price already above  20 DAYS AND 50 DAYS MOVING AVERAGES CONVINCINGLY !! [Call]  [Call]  [Call]  [Call]  [Call]  [USD]  [USD]  [USD]  [Love]  [Love]   $Alibaba(09988)$   $Amazon.com(AMZN)$   $MEITUAN-W(03690)$   $Coinbase Global, Inc.(COIN)$   $Tesla

Back then,   these 2 biggest telcos of Singapore , used to trade neck to neck at $4+ around a decade ago... So clearly STARHUB is richly undervalued now. Even when the smallest telco was delisted at a value of $2.10 . $Singtel(Z74.SI)$   $StarHub(CC3.SI)$   $DBS Group Holdings(D05.SI)$   $MEITUAN-W(03690)$   $NVIDIA(NVDA)$  

CDG $COMFORTDELGRO CORPORATION LTD(C52.SI)$ has reported earnings of $57.8 million for its 2HFY2022 ended December, 63.3% higher y-o-y compared to $35.4 million for the same period last year. Revenue for 2HFY2022 stood at $1.93 billion, up 9% y-o-y with an increase of $235.8 million coming from underlying businesses Operating profit for the period of $98.9 million was 41.3% higher y-o-y. The operating costs for the full year stood at $3.51 billion, 6.3% higher y-o-y while operating profit for the period was $279 million, 35.1% higher y-o-y. The group has declared a final dividend of 1.76 cents per share and a special dividend of 2.46 cents per share. The special dividend was given to commemorate the group's 20th an

$First Reit(AW9U.SI)$   Maintain BUY with an unchanged DDM-derived target price of S$0.30. First REIT is trading at an attractive 16% discount to NAV and a forward FY24e distribution yield of 9.3%. Organic growth will stem from more Indonesian hospitals achieving performance-based rent. Potential catalysts include the successful divestment of non-core assets such as Imperial Aryaduta Hotel and Country Club (IAHCC) and recycling the proceeds to fund acquisitions in developed markets as part of its First REIT 2.0 growth strategy. Our estimates remained unchanged. $ocbc bank(O39.SI)$   $Meta Platforms, Inc.(META)$  

Alibaba Group Holding (HKG:9988) reported a net income attributable to ordinary shareholders of 43.87 billion yuan for the quarter ended Sept. 30, a 58% jump from 27.71 billion yuan in the year-ago quarter, according to a Friday filing with the Hong Kong bourse. Earnings per share were 2.27 yuan, a 69% increase compared with 1.35 yuan a year ago. $Alibaba(09988)$   $TENCENT(00700)$   $Amazon.com(AMZN)$   $NVIDIA Corp(NVDA)$   @TigerWire   @Success88  

The property group tackled the concerns in a bourse filing on Thursday (Apr 17) night, ahead of its annual general meeting (AGM) on Apr 23. Describing the group’s share price-to-asset value gap as a “chasm”, a shareholder said it reflected the “profound failure” of CDL’s board to “crystallise value”. CDL’s estimated revalued net asset value (RNAV) stands at S$19.86 per share  this giant has to be Revalued towards fair value !! $CityDev(C09.SI)$   $BABA-W(09988)$   $TENCENT(00700)$   $MIXUE GROUP(02097)$   $DBS Group Holdings(D05.SI)$&nb

Chinese e-commerce giant Alibaba released a new version of its artificial intelligence model which it claims surpasses DeepSeek's AI model across various benchmarks. In a statement, Alibaba's cloud unit introduced the new version of its Qwen large language model, known as Qwen2.5 Max. The company stated that Quen2.5 Max "achieves competitive performance against the top-tier models," referencing those from OpenAI, DeepSeek and Meta, based on benchmark tests it conducted $Alibaba(09988)$   $Meta Platforms, Inc.(META)$   $Alphabet(GOOG)$   $Microsoft(MSFT)$  

Alibaba’s Hong Kong-listed shares could be ready for mainland buyers via Stock Connect by September 9, Morgan Stanley says The e-commerce giant is likely to see up to US$12 billion of inflow from mainland investors in the six months after its primary listing in Hong Kong Stock price has been lagging the broader market this year amid intense competition at home $Alibaba(09988)$   $Amazon.com(AMZN)$   $Meta Platforms, Inc.(META)$   $Microsoft(MSFT)$