Forecast the next five years of dividends for the two companies(any Singapore company). Justify your forecasts.

Assume the dividends after the next five years (from year 6 onwards) is the same as the average of the forecasted five-year dividends above, use the Dividend Discount Model to estimate the value of one share for each company and using Excel

Provide the recommendation to the share investors based on the results of the estimated value of each share.