For 2013's remainder, UOB KayHian tips being selective
on blue-chips and seeking alpha in undervalued mid-caps. With the top-15 STI
stocks at an only 3.3% average discount to long-term P/B means, stocks with
capitalisations below $1.5 billion may offer deeper value, it says, with its
top-five segment picks Silverlake (5CP.SG), Kreuz(5RK.SG), Triyards (RC5.SG), Ying Li (5DM.SG)
and Sino Grandness (JS5.SG).
Its large-cap buy list includes DBS (D05.SG), M1 (B2F.SG), Keppel (BN4.SG), OUE(LJ3.SG) and SIA Engineering (S59.SG). Singapore's overall market valuation
is inexpensive at 15.1x 2013 P/E, a 7.5% discount to long-term means, it says;
"The next one to two quarters could see a mixed performance given
uninspiring macro ...
...