Golden Agri - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/16/18	OCBC	Golden Agri	0.39	0.37	Hold
02/28/18	CIMB	Golden Agri	0.36	0.31	Reduce	PER15x FY19
02/28/18	OCBC	Golden Agri	0.36	0.37	Hold
02/28/18	Credit Suisse	Golden Agri	0.36	0.35	Underperform
03/07/18	UOB Kay Hian	Golden Agri	0.345	0.31	Hold
03/08/18	OCBC	Golden Agri	0.36	0.37	Hold
04/06/18	CIMB	Golden Agri	0.345	0.31	Reduce	PER15x
04/13/18	DBS Vickers	Golden Agri	0.34	0.39	Not Rated
05/16/18	UOB Kay Hian	Golden Agri	0.35	0.26	Sell	PER14x FY18
05/16/18	CIMB	Golden Agri	0.35	0.31	Reduce	Sum of parts (10% discount)
05/16/18	OCBC	Golden Agri	0.35	0.34	Hold
06/21/18	UOB Kay Hian	Golden Agri	0.33	0.26	Sell
06/27/18	OCBC	Golden Agri	0.315	0.34	Hold
07/03/18	UOB Kay Hian	Golden Agri	0.305	0.26	Sell
07/11/18	OCBC	Golden Agri	0.29	0.3	Hold	PER17x FY19
08/15/18	OCBC	Golden Agri	0.28	0.26	Hold	PER17.5x FY19
08/16/18	UOB Kay Hian	Golden Agri	0.28	0.16	Sell
08/16/18	CIMB	Golden Agri	0.28	0.25	Reduce	Sum of parts (20% discount)
09/26/18	OCBC	Golden Agri	0.24	0.24	Hold	PER16x FY19
10/08/18	UOB Kay Hian	Golden Agri	0.265	0.16	Sell
10/11/18	DBS Vickers	Golden Agri	0.255	0.33	Not Rated	DCF
10/29/18	OCBC	Golden Agri	0.255	0.24	Hold
11/08/18	UOB Kay Hian	Golden Agri	0.26	0.16	Sell
11/13/18	OCBC	Golden Agri	0.245	0.24	Hold
11/14/18	UOB Kay Hian	Golden Agri	0.245	0.2	Sell	PER11x FY19
11/14/18	CIMB	Golden Agri	0.245	0.23	Reduce	Sum of parts (20% discount)
12/10/18	UOB Kay Hian	Golden Agri	0.255	0.2	Sell
01/03/19	UOB Kay Hian	Golden Agri	0.245	0.2	Sell
01/28/19	DMG & Partners	Golden Agri	0.27	0.23	Sell	Sum of parts, PER10x, cut from $0.39