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Monday, February 28, 2011

Baltic Dry Index (BDI) - 1245

Quote:

The index rose 0.24 per cent or three points to 1,245 points, after falling in the four previous sessions. That slump followed 10 days of gains.


End Quote.

ST Engineering - 5 buy calls & 1 hold call.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

08/04/10 CIMB ST Engineering 3.26 3.62 Outperform
11/10/10 CIMB ST Engineering 3.47 3.88 Outperform DCF & PER
01/26/11 CIMB ST Engineering 3.29 3.88 Outperform
02/16/11 CIMB ST Engineering 3.15 3.88 Outperform DCF & PER & Div Yield

08/04/10 DBS Vickers ST Engineering 3.26 3.55 Buy
08/20/10 DBS Vickers ST Engineering 3.15 3.55 Buy
11/10/10 DBS Vickers ST Engineering 3.47 3.85 Buy Sum of parts

08/04/10 Kim Eng ST Engineering 3.26 3.15 Hold PER20x
09/30/10 Kim Eng ST Engineering 3.37 3.15 Hold
11/10/10 Kim Eng ST Engineering 3.47 3.15 Hold
02/16/11 Kim Eng ST Engineering 3.15 3.15 Hold PER17.1x

08/04/10 Macquarie ST Engineering 3.26 3.8 Outperform

09/20/10 OCBC ST Engineering 3.32 3.66 Buy PER20x
11/09/10 OCBC ST Engineering 3.4 3.66 Buy
02/16/11 OCBC ST Engineering 3.15 3.71 Buy PER21x

07/15/10 phillip ST Engineering 3.28 3.64 Buy FCFE Model
08/04/10 phillip ST Engineering 3.26 3.64 Buy
09/21/10 phillip ST Engineering 3.29 3.69 Buy FCFE Model
11/10/10 phillip ST Engineering 3.47 3.88 Buy
02/16/11 phillip ST Engineering 3.15 3.8 Buy DCF & PER20x

Singapore Press Holdings (SPH) - Does monopoly pay well in the business strategy?

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

03/15/10 CIMB SPH 3.8 4.5 Outperform Sum of parts
04/14/10 CIMB SPH 3.93 4.5 Outperform Sum of parts
05/18/10 CIMB SPH 3.84 4.5 Outperform
06/02/10 CIMB SPH 3.69 4.43 Outperform Sum of parts
07/13/10 CIMB SPH 3.93 4.47 Outperform Sum of parts
09/03/10 CIMB SPH 4.15 4.47 Outperform Sum of parts
10/13/10 CIMB SPH 4.22 4.51 Neutral Sum of parts
01/17/11 CIMB SPH 3.98 4.51 Neutral Sum of parts

03/05/10 DBS Vickers SPH 3.77 4.32 Buy Sum of parts
03/08/10 DBS Vickers SPH 3.8 4.32 Buy
04/14/10 DBS Vickers SPH 3.93 4.32 Buy
04/15/10 DBS Vickers SPH 3.97 4.42 Buy Sum of parts
05/27/10 DBS Vickers SPH 3.73 4.42 Buy Sum of parts
06/04/10 DBS Vickers SPH 3.79 4.42 Buy
07/13/10 DBS Vickers SPH 3.93 4.42 Buy Sum of parts
08/23/10 DBS Vickers SPH 3.98 4.42 Buy
09/08/10 DBS Vickers SPH 4.18 4.52 Buy Sum of parts
10/13/10 DBS Vickers SPH 4.22 4.37 Hold Sum of parts
01/17/11 DBS Vickers SPH 3.98 4.37 Hold

04/14/10 DMG & Partners SPH 3.93 3.95 Neutral Sum of parts
07/13/10 DMG & Partners SPH 3.93 4.31 Neutral Sum of parts
10/13/10 DMG & Partners SPH 4.22 4.11 Neutral
01/17/11 DMG & Partners SPH 3.98 4.11 Neutral Sum of parts

04/14/10 Kim Eng SPH 3.93 4.61 Buy
07/13/10 Kim Eng SPH 3.93 4.62 Buy Sum of parts
09/07/10 Kim Eng SPH 4.17 4.62 Buy Sum of parts
10/13/10 Kim Eng SPH 4.22 4.7 Buy Sum of parts
01/17/11 Kim Eng SPH 3.98 4.75 Buy

07/13/10 Lim & Tan SPH 3.93 0 Buy
09/03/10 Lim & Tan SPH 4.15 0 Buy
10/04/10 Lim & Tan SPH 4.24 0 Buy
10/13/10 Lim & Tan SPH 4.22 0 Buy Div Yield 6.4%

04/14/10 OCBC SPH 3.97 4.31 Buy Sum of parts
07/13/10 OCBC SPH 3.93 4.63 Buy Sum of parts
09/02/10 OCBC SPH 4.08 4.63 Buy
01/17/11 OCBC SPH 3.98 4.59 Buy

10/14/10 UOB Kay Hian SPH 4.25 4.35 Hold

Sound Global (Epure) - Mixed calls by analysts.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

08/10/10 CIMB Sound Global 0.78 1.08 Outperform PER14x

07/07/10 Citigroup Sound Global 0.75 0.7 Sell PER13x

08/11/10 DBS Vickers Sound Global 0.765 0.84 Hold PER12x
08/26/10 DBS Vickers Sound Global 0.72 0.84 Hold
09/29/10 DBS Vickers Sound Global 0.81 0.96 Buy PER13.2x
11/15/10 DBS Vickers Sound Global 0.87 0.94 Hold PER14.3x
02/22/11 DBS Vickers Sound Global 0.71 0.8 Hold
06/11/10 DMG & Partners Sound Global 0.85 1.04 Buy
08/11/10 DMG & Partners Sound Global 0.765 0.93 Buy PER14x
11/16/10 DMG & Partners Sound Global 0.84 1.05 Buy PER14x
02/07/11 DMG & Partners Sound Global 0.75 1.05 Buy

06/29/10 phillip Sound Global 0.78 1.1 Buy DCF
07/06/10 phillip Sound Global 0.77 1.04 Buy
08/11/10 phillip Sound Global 0.77 1.06 Buy DCF
09/06/10 phillip Sound Global 0.71 0.82 Hold DCF
11/16/10 phillip Sound Global 0.84 0.82 Hold DCF

Sunday, February 27, 2011

Soilbuild - Accept the offer!

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

06/16/10 OCBC Soilbuild 0.64 0.88 Buy
07/05/10 OCBC Soilbuild 0.59 0.88 Buy
07/16/10 OCBC Soilbuild 0.615 0.88 Buy
08/13/10 OCBC Soilbuild 0.62 1.76 Under Review
09/22/10 OCBC Soilbuild 0.705 0.8 Accept Offer
10/11/10 OCBC Soilbuild 0.795 0 Accept Offer
11/02/10 OCBC Soilbuild 0.79 0 Accept Offer

SMRT - Public transports company is no longer favoured by analysts.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

08/03/10 AmFraser SMRT 2.1 1.99 Hold

05/18/10 CIMB SMRT 2.11 2.35 Neutral
08/02/10 CIMB SMRT 2.22 2.31 Buy DCF
09/17/10 CIMB SMRT 2.09 1.95 Underperform DCF
01/31/11 CIMB SMRT 2.05 2.1 Underperform DCF

07/30/10 Citigroup SMRT 2.1 1.9 Sell

12/15/10 CLSA SMRT 2.04 2.05 Underperform

08/02/10 DBS Vickers SMRT 2.22 1.88 Fully Valued DCF & PER15x
08/17/10 DBS Vickers SMRT 2.1 1.88 Fully Valued
11/01/10 DBS Vickers SMRT 2.05 1.88 Fully Valued PER15x & DCF
01/31/11 DBS Vickers SMRT 2.05 2.15 Hold PER, DCF
02/22/11 DBS Vickers SMRT 2 2.15 Hold

05/17/10 DMG & Partners SMRT 2.11 2 Sell
06/07/10 DMG & Partners SMRT 2.14 2 Sell
06/21/10 DMG & Partners SMRT 2.22 2 Sell
08/02/10 DMG & Partners SMRT 2.22 2 Sell PER20x
08/17/10 DMG & Partners SMRT 2.1 2 Sell
09/03/10 DMG & Partners SMRT 2.06 2 Sell
10/21/10 DMG & Partners SMRT 2.04 2.08 Neutral
01/12/11 DMG & Partners SMRT 2.05 2.08 Neutral PATMI 18x
01/13/11 DMG & Partners SMRT 2.06 2.08 Neutral
01/18/11 DMG & Partners SMRT 2.07 2.08 Neutral PATMI 18x
01/31/11 DMG & Partners SMRT 2.05 2.02 Neutral DCF
02/25/11 DMG & Partners SMRT 1.95 2.02 Neutral

08/02/10 Kim Eng SMRT 2.22 1.57 Sell PER17x
09/28/10 Kim Eng SMRT 2.07 1.71 Sell
11/01/10 Kim Eng SMRT 2.05 1.71 Sell
01/31/11 Kim Eng SMRT 2.05 1.97 Hold PER17x

08/02/10 Lim & Tan SMRT 2.22 2 Buy Buy when hit $2, Div Yield 4.4%
08/10/10 Lim & Tan SMRT 2.04 0 Buy

01/03/11 Macquarie SMRT 2.03 1.75 Underperform

05/27/10 OCBC SMRT 2.11 2.33 Buy
08/02/10 OCBC SMRT 2.22 2.16 Hold DDM
10/18/10 OCBC SMRT 2.06 2.16 Hold
01/14/11 OCBC SMRT 2.06 2.16 Hold DDM

05/21/10 phillip SMRT 2.1 2.36 Hold
07/20/10 phillip SMRT 2.3 2.36 Hold
08/02/10 phillip SMRT 2.22 2.18 Hold
10/25/10 phillip SMRT 2.06 2.18 Hold PER19.6x
11/01/10 phillip SMRT 2.05 2.18 Hold
02/01/11 phillip SMRT 2.04 2.18 Hold

Sinotel - Hold calls by analysts.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

03/02/10 AmFraser Sinotel 0.505 0.89 Accumulate PER8.9x
05/03/10 AmFraser Sinotel 0.455 0.53 Hold

04/14/10 DBS Vickers Sinotel 0.56 0.61 Hold PER7x

05/05/10 DMG & Partners Sinotel 0.44 0.49 Neutral PER6.5x

Saturday, February 26, 2011

Sinopipe - Increase your holdings for this stock.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

01/19/11 SIAS Sinopipe 0.26 0.4 Increase

Sinomem - CIMB loved this stock!

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

03/02/10 CIMB Sinomem 0.51 1.2 Outperform Sum of parts
04/14/10 CIMB Sinomem 0.61 1.2 Outperform Sum of parts
05/17/10 CIMB Sinomem 0.53 1.2 Outperform Sum of parts
08/16/10 CIMB Sinomem 0.485 1.2 Outperform Sum of parts

Sino Grandness Food - Mostly buy calls from analysts for this food company.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

10/26/10 AmFraser Sino Grandness Food 0.415 0.58 Buy PER7.5x
11/03/10 AmFraser Sino Grandness Food 0.42 0.63 Buy PER7.5x
02/17/11 Amfraser Sino Grandness Food 0.58 0.63 Buy
02/24/11 Amfraser Sino Grandness Food 0.51 0.73 Buy PER7.5x

06/29/10 DMG & Partners Sino Grandness Food 0.285 0.4 Buy
07/16/10 DMG & Partners Sino Grandness Food 0.33 0.4 Buy
08/10/10 DMG & Partners Sino Grandness Food 0.355 0.4 Buy
08/16/10 DMG & Partners Sino Grandness Food 0.345 0.5 Buy PER6x
08/17/10 DMG & Partners Sino Grandness Food 0.345 0.5 Buy Sum of parts
08/23/10 DMG & Partners Sino Grandness Food 0.36 0.5 Buy
09/13/10 DMG & Partners Sino Grandness Food 0.355 0.5 Buy
10/06/10 DMG & Partners Sino Grandness Food 0.37 0.46 Buy
10/22/10 DMG & Partners Sino Grandness Food 0.38 0.5 Buy
11/03/10 DMG & Partners Sino Grandness Food 0.42 0.56 Buy PER6x
01/12/11 DMG & Partners Sino Grandness Food 0.475 0.68 Buy PER6x
02/17/11 DMG & Partners Sino Grandness Food 0.58 0.68 Buy PER6x
02/23/11 DMG & Partners Sino Grandness Food 0.53 0.68 Buy PER6x

10/04/10 Lim & Tan Sino Grandness Food 0.37 0 Buy
10/06/10 Lim & Tan Sino Grandness Food 0.37 0 Buy
10/07/10 Lim & Tan Sino Grandness Food 0.415 0 Buy
01/07/11 Lim & Tan Sino Grandness Food 0.455 0 Buy
01/24/11 Lim & Tan Sino Grandness Food 0.515 0 Buy
02/17/11 Lim & Tan Sino Grandness Food 0.58 0 Buy
02/23/11 Lim & Tan Sino Grandness Food 0.53 0 Neutral

07/09/10 phillip Sino Grandness Food 0.31 0.53 Buy PER7x
08/10/10 phillip Sino Grandness Food 0.355 0.58 Buy PER7x
08/16/10 phillip Sino Grandness Food 0.345 0.58 Buy
10/07/10 phillip Sino Grandness Food 0.415 0.57 Buy PER7x
10/27/10 phillip Sino Grandness Food 0.415 0.57 Buy
12/07/10 phillip Sino Grandness Food 0.375 0.59 Buy
12/15/10 phillip Sino Grandness Food 0.405 0.57 Buy
02/24/11 phillip Sino Grandness Food 0.51 0.67 Buy

Friday, February 25, 2011

Singtel - Analysts have reservations for this telecommunication company.

08/13/10 AmFraser Singtel 2.99 2.82 Hold

05/18/10 CIMB Singtel 2.96 3 Underperform
06/21/10 CIMB Singtel 3.1 3 Underperform Sum of parts
06/25/10 CIMB Singtel 3.04 3 Underperform Sum of parts
08/12/10 CIMB Singtel 3.06 3 Underperform Sum of parts
08/30/10 CIMB Singtel 3 3.09 Underperform Sum of parts
09/07/10 CIMB Singtel 3.11 3.09 Underperform Sum of parts
09/13/10 CIMB Singtel 3.08 3.09 Underperform
09/23/10 CIMB Singtel 3.13 3.09 Underperform Sum of parts
10/18/10 CIMB Singtel 3.07 3.09 Underperform Sum of parts
11/09/10 CIMB Singtel 3.28 3.09 Underperform Sum of parts
11/11/10 CIMB Singtel 3.25 3.09 Underperform Sum of parts
11/12/10 CIMB Singtel 3.31 3.29 Underperform Sum of parts
12/03/10 CIMB Singtel 3.13 3.29 Underperform Sum of parts
01/21/11 CIMB Singtel 3.04 3.29 Underperform Sum of parts
02/10/11 CIMB Singtel 3.09 3.29 Underperform Sum of parts

02/25/11 Citigroup Singtel 2.86 3.36 Buy

09/17/10 Credit Suisse Singtel 3.09 3.84 Outperform

07/12/10 DBS Vickers Singtel 3.12 3.45 Buy Sum of parts
07/15/10 DBS Vickers Singtel 3.15 3.45 Buy
07/30/10 DBS Vickers Singtel 3.11 3.45 Buy
08/18/10 DBS Vickers Singtel 2.95 3.45 Buy
09/01/10 DBS Vickers Singtel 3.08 3.45 Buy
09/07/10 DBS Vickers Singtel 3.11 3.45 Buy PER12.1x
12/08/10 DBS Vickers Singtel 3.13 3.55 Buy
01/03/11 DBS Vickers Singtel 3.07 3.5 Buy

05/17/10 DMG & Partners Singtel 2.97 3.01 Neutral
06/09/10 DMG & Partners Singtel 2.88 3.01 Neutral
06/11/10 DMG & Partners Singtel 2.95 3.01 Neutral
07/12/10 DMG & Partners Singtel 3.09 3.01 Neutral Sum of parts
07/22/10 DMG & Partners Singtel 3.06 3.01 Neutral
08/12/10 DMG & Partners Singtel 3.06 3.01 Neutral
08/13/10 DMG & Partners Singtel 3.01 2.98 Neutral Sum of parts
09/01/10 DMG & Partners Singtel 3.08 2.98 Neutral
09/07/10 DMG & Partners Singtel 3.11 2.98 Neutral
11/11/10 DMG & Partners Singtel 3.25 2.98 Under Review
11/15/10 DMG & Partners Singtel 3.31 3.05 Neutral
11/26/10 DMG & Partners Singtel 3.09 3.05 Neutral Sum of parts
12/08/10 DMG & Partners Singtel 3.13 3.05 Neutral
01/03/11 DMG & Partners Singtel 3.05 3.05 Neutral
01/26/11 DMG & Partners Singtel 3.07 3.05 Neutral
02/10/11 DMG & Partners Singtel 3.09 3.05 Neutral

11/09/10 Goldman Sachs Singtel 3.28 3.47 Buy Sum of parts

08/12/10 Kim Eng Singtel 3.06 3.13 Hold
10/06/10 Kim Eng Singtel 3.15 2.88 Hold
11/11/10 Kim Eng Singtel 3.25 0 Under Review
11/12/10 Kim Eng Singtel 3.31 3.11 Hold
02/11/11 Kim Eng Singtel 3.05 3.11 Hold PER12x

11/11/10 Lim & Tan Singtel 3.25 0 Hold
02/10/11 Lim & Tan Singtel 3.09 0 Hold

05/19/10 OCBC Singtel 2.97 3.4 Buy 5.4% Div Yield
06/16/10 OCBC Singtel 2.98 3.4 Buy Div Yield 4.8%
07/28/10 OCBC Singtel 3.1 3.4 Buy Div Yield 4.8%
08/12/10 OCBC Singtel 3.06 3.34 Buy Sum of parts
09/01/10 OCBC Singtel 3.08 3.34 Buy Div Yield 4.2%
10/11/10 OCBC Singtel 3.09 3.34 Buy Div Yield 4.2%
11/11/10 OCBC Singtel 3.25 3.34 Buy Under Review
11/29/10 OCBC Singtel 3.1 3.51 Buy Sum of parts
01/04/11 OCBC Singtel 3.07 3.59 Buy Div Yield 4.3%

08/13/10 phillip Singtel 2.99 3.43 Hold
11/12/10 phillip Singtel 3.31 3.52 Hold
01/18/11 phillip Singtel 3.09 3.32 Hold Sum of parts
02/11/11 phillip Singtel 3.05 3.32 Hold DCF

01/13/11 UBS Singtel 3.09 3.53 Buy

02/11/11 UOB Kay Hian Singtel 3.05 3.07 Sell

Singapore Shipping - Lim & Tan loved this stock.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

03/11/10 Lim & Tan Singapore Shipping 0.265 0 Buy

Singapore Post - Nobody likes to post mail anymore.

Date/Reseach House/Stock/Last Done/Target Price/Call/Valuation Method

07/29/10 CIMB Singapore Post 1.14 1.13 Neutral DDM

10/07/10 CLSA Singapore Post 1.22 0 Underperform

07/29/10 DBS Vickers Singapore Post 1.13 1.17 Hold DDM
11/01/10 DBS Vickers Singapore Post 1.18 1.17 Hold DDM
01/31/11 DBS Vickers Singapore Post 1.17 1.17 Hold DDM

07/29/10 Kim Eng Singapore Post 1.13 1.25 Hold PER15x
11/01/10 Kim Eng Singapore Post 1.18 1.25 Hold PER15x
01/31/11 Kim Eng Singapore Post 1.17 1.29 Hold PER15x

08/13/10 Lim & Tan Singapore Post 1.15 0 Buy
09/08/10 Lim & Tan Singapore Post 1.23 0 Sell

06/25/10 OCBC Singapore Post 1.12 1.16 Hold
07/29/10 OCBC Singapore Post 1.13 1.16 Hold
01/31/11 OCBC Singapore Post 1.17 1.16 Hold DCF

Thursday, February 24, 2011

Singapore Land - Analysts upgraded the target prices.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

08/10/10 AmFraser Singapore Land 6.8 8.8 Buy RNAV
08/30/10 AmFraser Singapore Land 6.78 8.8 Buy
02/21/11 Amfraser Singapore Land 7.29 9.58 Buy RNAV

06/14/10 CIMB Singapore Land 6.58 7.68 Neutral
11/10/10 CIMB Singapore Land 7.17 8.54 Outperform RNAV (15% discount)
11/23/10 CIMB Singapore Land 7.36 9.24 Outperform RNAV (15% discount)
02/21/11 CIMB Singapore Land 7.29 10.18 Outperform RNAV (15% discount)

06/16/10 DBS Vickers Singapore Land 6.58 7.99 Buy
07/16/10 DBS Vickers Singapore Land 6.62 7.99 Buy
08/10/10 DBS Vickers Singapore Land 6.8 7.85 Buy RNAV (15% discount)
08/31/10 DBS Vickers Singapore Land 6.76 7.85 Buy
12/16/10 DBS Vickers Singapore Land 7.41 8.28 Buy
12/20/10 DBS Vickers Singapore Land 7.31 8.3 Buy
02/21/11 DBS Vickers Singapore Land 7.29 8.72 Buy RNAV (10% discount)

01/17/11 DMG & Partners Singapore Land 7.71 9.5 Buy RNAV (20% discount)
01/21/11 DMG & Partners Singapore Land 7.68 9.5 Buy
02/16/11 DMG & Partners Singapore Land 7.33 9.5 Buy

08/10/10 Kim Eng Singapore Land 6.8 6.92 Hold PB0.8x
09/29/10 Kim Eng Singapore Land 7.01 7.38 Hold RNAV (20% discount)
01/12/11 Kim Eng Singapore Land 7.01 7.94 Hold RNAV (20% discount)
02/21/11 Kim Eng Singapore Land 7.29 8.24 Hold RNAV (20% discount)

11/15/10 Nomura Singapore Land 7.43 9.58 Buy

11/16/10 OCBC Singapore Land 7.43 8.3 Buy

Sing Holdings - Phillip has ceased coverage for this stock.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

05/14/10 phillip Sing Holdings 0.35 0.46 Buy RNAV (10% discount)
08/13/10 phillip Sing Holdings 0.33 0.37 Hold RNAV (30% discount)
08/31/10 phillip Sing Holdings 0.32 0.36 Hold RNAV (30% discount)
09/22/10 phillip Sing Holdings 0.335 0.36 Hold RNAV (30% discount)
10/04/10 phillip Sing Holdings 0.33 0.36 Hold RNAV (30% discount), PER25x
11/10/10 phillip Sing Holdings 0.345 0.38 Hold RNAV (25% discount)
12/16/10 phillip Sing Holdings 0.33 0.38 Hold
02/23/11 phillip Sing Holdings 0.325 0 Cease Coverage

Sim Lian - Hold calls from analysts.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

09/22/10 BNP Paribas Sim Lian 0.755 0.8 Hold RNAV (20% discount)

05/12/10 DBS Vickers Sim Lian 0.52 0.56 Hold RNAV (40% discount)

Wednesday, February 23, 2011

Baltic Dry Index (BDI) - 1295

Quote:

The index fell 0.46 per cent or 6 points to 1,295 points after rising for 10 sessions previously.

End Quote.

SIA Engineering - 3 buy calls and 4 hold calls.

03/29/10 CIMB SIA Engineering 3.56 4.12 Outperform DCF & PER15x
05/17/10 CIMB SIA Engineering 3.71 4.48 Outperform DCF, PER15x
05/18/10 CIMB SIA Engineering 3.74 4.48 Outperform
07/26/10 CIMB SIA Engineering 4.13 4.48 Outperform PER15x & DCF
11/03/10 CIMB SIA Engineering 4.42 5.05 Outperform DCF
01/26/11 CIMB SIA Engineering 4.22 5.05 Outperform DCF & PER15x

03/08/10 DBS Vickers SIA Engineering 3.69 3.8 Buy PER17.5x
05/18/10 DBS Vickers SIA Engineering 3.74 4.3 Buy
06/04/10 DBS Vickers SIA Engineering 3.79 4.3 Buy
07/26/10 DBS Vickers SIA Engineering 4.13 4.6 Buy Sum of parts & DCF
08/20/10 DBS Vickers SIA Engineering 4.11 4.6 Buy
10/05/10 DBS Vickers SIA Engineering 4.51 5.1 Buy Sum of parts
11/03/10 DBS Vickers SIA Engineering 4.42 5.1 Buy Sum of parts
01/26/11 DBS Vickers SIA Engineering 4.22 5 Buy DCF & PER

11/09/10 Goldman Sachs SIA Engineering 4.43 5.8 Buy

03/22/10 Kim Eng SIA Engineering 3.63 3.98 Buy PER17x
05/17/10 Kim Eng SIA Engineering 3.71 4.21 Buy PER18x
06/08/10 Kim Eng SIA Engineering 3.8 4.21 Buy
07/26/10 Kim Eng SIA Engineering 4.13 5 Buy PER20x
10/01/10 Kim Eng SIA Engineering 4.6 5 Buy
10/05/10 Kim Eng SIA Engineering 4.51 5 Buy
11/03/10 Kim Eng SIA Engineering 4.42 4.7 Hold PER19x
01/26/11 Kim Eng SIA Engineering 4.22 4.5 Hold PER19x

05/20/10 Lim & Tan SIA Engineering 3.82 0 Buy
06/08/10 Lim & Tan SIA Engineering 3.8 0 Buy
06/30/10 Lim & Tan SIA Engineering 4.02 0 Buy
09/06/10 Lim & Tan SIA Engineering 3.28 0 Hold

04/13/10 OCBC SIA Engineering 3.66 3.66 Hold Sum of parts, PER16.4x
07/26/10 OCBC SIA Engineering 4.13 3.85 Hold
01/26/11 OCBC SIA Engineering 4.22 4.3 Hold DCF & PER16x

04/29/10 phillip SIA Engineering 3.68 3.94 Hold FCFE Model
05/17/10 phillip SIA Engineering 3.71 3.91 Hold FCFE Model, PER15x, PB3.5x
07/26/10 phillip SIA Engineering 4.13 4.37 Hold
11/04/10 phillip SIA Engineering 4.53 4.37 Hold BV & PER
12/17/10 phillip SIA Engineering 4.33 4.37 Hold
01/26/11 phillip SIA Engineering 4.22 4.33 Hold

SIA - How is this airline doing?

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

05/24/10 AmFraser SIA 14.16 18.6 Buy EV/Ebitda 6x

05/24/10 CIMB SIA 14.22 18.6 Outperform PER14x
07/27/10 CIMB SIA 14.76 18.6 Outperform PER14x
07/29/10 CIMB SIA 15.46 18.85 Outperform PER14x
09/16/10 CIMB SIA 16 18.85 Outperform PER14x
11/08/10 CIMB SIA 16 18.85 Outperform PER14x
11/10/10 CIMB SIA 16.32 18.85 Outperform PER14x
11/11/10 CIMB SIA 16.12 20.5 Outperform PER11x
01/04/11 CIMB SIA 15.4 20.5 Outperform PER11x
01/26/11 CIMB SIA 15.12 20.5 Outperform PER11x
01/28/11 CIMB SIA 15.04 20.5 Outperform
01/31/11 CIMB SIA 15.04 20.5 Outperform PER11x

07/27/10 Citigroup SIA 14.76 16 Buy

10/19/10 Credit Suisse SIA 16.02 18.5 Outperform
02/11/11 Credit Suisse SIA 14.12 18.5 Outperform

05/25/10 DBS Vickers SIA 14.22 18.2 Buy PB1.5x
07/27/10 DBS Vickers SIA 14.76 18.2 Buy PB1.5x
07/28/10 DBS Vickers SIA 15.02 18.4 Buy PB1.5x
07/30/10 DBS Vickers SIA 15.68 18.62 Buy PB1.5x
08/20/10 DBS Vickers SIA 15.5 18.62 Buy
09/06/10 DBS Vickers SIA 15.6 18.62 Buy
09/27/10 DBS Vickers SIA 16.2 18.62 Buy
11/10/10 DBS Vickers SIA 16.32 18.74 Buy PB1.5x
11/22/10 DBS Vickers SIA 15.96 18.74 Buy
12/13/10 DBS Vickers SIA 15.78 18.74 Buy
01/31/11 DBS Vickers SIA 15.04 18.56 Buy PB1.5x
02/22/11 DBS Vickers SIA 14.34 18.56 Buy

02/11/11 DIR SIA 14.12 15 Hold

05/19/10 DMG & Partners SIA 14.56 17.82 Buy PER16x
05/24/10 DMG & Partners SIA 14.16 17.82 Buy PER16x
06/16/10 DMG & Partners SIA 14.82 17.82 Buy PER16x
07/16/10 DMG & Partners SIA 15.04 17.82 Buy PER16x
07/27/10 DMG & Partners SIA 14.76 17.82 Buy PER16x
07/30/10 DMG & Partners SIA 15.46 17.9 Buy
09/06/10 DMG & Partners SIA 15.6 17.9 Buy
09/17/10 DMG & Partners SIA 16.04 17.9 Buy
09/22/10 DMG & Partners SIA 16.04 17.9 Buy
11/10/10 DMG & Partners SIA 16.32 18.5 Buy PER13x
11/12/10 DMG & Partners SIA 16.12 18.5 Buy
12/02/10 DMG & Partners SIA 15.84 18.5 Buy PER13x
12/21/10 DMG & Partners SIA 15.18 18.5 Buy PER13x
01/05/11 DMG & Partners SIA 15.18 18.5 Buy
01/31/11 DMG & Partners SIA 15.04 18.5 Buy PER13x
02/02/11 DMG & Partners SIA 14.7 17.2 Buy

07/27/10 JP Morgan SIA 14.76 18 Buy
11/11/10 JP Morgan SIA 16.12 20 Overweight PB1.6x

05/24/10 Kim Eng SIA 14.16 18.9 Buy
05/25/10 Kim Eng SIA 14.22 18.9 Buy PB1.7x
06/16/10 Kim Eng SIA 14.82 18.9 Buy PB1.7x
07/16/10 Kim Eng SIA 15.04 18.9 Buy PB1.7x
07/27/10 Kim Eng SIA 14.76 18.9 Buy PB1.7x
07/29/10 Kim Eng SIA 15.46 18.9 Buy PB1.7x
08/17/10 Kim Eng SIA 15.46 18.9 Buy
09/16/10 Kim Eng SIA 16 18.9 Buy
10/18/10 Kim Eng SIA 16.22 18.9 Buy
11/11/10 Kim Eng SIA 16.12 18.9 Buy
12/16/10 Kim Eng SIA 15.46 18.9 Buy
01/18/11 Kim Eng SIA 15.28 18.9 Buy
01/31/11 Kim Eng SIA 15.04 18.9 Buy PB1.6x
02/16/11 Kim Eng SIA 14.44 18.9 Buy PB1.6x
02/17/11 Kim Eng SIA 14.2 18.9 Buy PB1.6x

09/06/10 Lim & Tan SIA 15.6 0 Buy
12/01/10 Lim & Tan SIA 15.42 0 Buy

12/06/10 OCBC SIA 15.78 18.74 Buy

09/06/10 phillip SIA 15.6 15 Hold
11/11/10 phillip SIA 16.12 16.34 Hold
12/17/10 phillip SIA 15.26 16.34 Hold
12/23/10 phillip SIA 15.22 16.34 Hold PB1.3x
01/19/11 phillip SIA 15.38 16.34 Hold PB1.3x
02/01/11 phillip SIA 14.76 16.59 Buy PB1.3x

07/27/10 UBS SIA 14.76 16.5 Buy

12/16/10 UOB Kay Hian SIA 15.26 15.9 Hold

SGX - Analysts are confused about this stock exchange.

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

03/22/10 CIMB SGX 8.03 8.38 Underperform DDM
04/16/10 CIMB SGX 8.26 8.38 Underperform DDM
05/18/10 CIMB SGX 7.74 8.38 Underperform
06/04/10 CIMB SGX 7.39 8.38 Neutral DDM
08/03/10 CIMB SGX 7.79 8.38 Neutral DDM
09/24/10 CIMB SGX 8.87 9.75 Outperform DDM
09/27/10 CIMB SGX 8.88 9.75 Neutral
10/19/10 CIMB SGX 10.04 10.86 Outperform DDM
01/12/11 CIMB SGX 8.41 8.26 Trading Sell PER19x
01/19/11 CIMB SGX 8.5 8 Trading Sell PER19x
01/28/11 CIMB SGX 8.62 8 Trading Sell
02/16/11 CIMB SGX 8.3 8 Trading Sell PER19x

10/26/10 Credit Suisse SGX 8.95 7.5 Underperform

04/13/10 DBS Vickers SGX 7.96 8 Fully Valued PER20x
04/16/10 DBS Vickers SGX 8.26 8 Fully Valued PER20x
07/02/10 DBS Vickers SGX 7.44 7 Fully Valued PER18x
08/03/10 DBS Vickers SGX 7.79 6.9 Fully Valued PER18x
09/22/10 DBS Vickers SGX 8.5 9.6 Buy DDM
09/27/10 DBS Vickers SGX 8.8 9.6 Buy
10/19/10 DBS Vickers SGX 10.04 11.4 Buy
01/19/11 DBS Vickers SGX 8.5 11.5 Buy DDM

09/15/10 Deutsche SGX 8.2 9.5 Buy
11/19/10 Deutsche SGX 8.94 10.5 Hold

12/01/10 DIR SGX 8.62 9.76 Outperform
01/18/11 DIR SGX 8.43 9.42 Neutral 6-month target

04/06/10 DMG & Partners SGX 7.8 7 Sell PER21x
04/07/10 DMG & Partners SGX 7.88 7 Sell PER21x
04/19/10 DMG & Partners SGX 8.26 7 Sell PER21x
05/21/10 DMG & Partners SGX 7.68 6.5 Sell PER20x
06/01/10 DMG & Partners SGX 7.38 6.5 Sell PER20x
06/07/10 DMG & Partners SGX 7.35 6.5 Sell
07/08/10 DMG & Partners SGX 7.34 6.5 Sell PER20x
08/26/10 DMG & Partners SGX 7.38 6.5 Sell PER20x
10/12/10 DMG & Partners SGX 9.44 7.9 Sell Sum of parts
10/19/10 DMG & Partners SGX 10.12 7.9 Sell
10/26/10 DMG & Partners SGX 8.95 8.33 Neutral PER20x
01/11/11 DMG & Partners SGX 8.41 9.45 Buy PER22x
01/18/11 DMG & Partners SGX 8.43 9.45 Buy PER22x
01/21/11 DMG & Partners SGX 8.55 9.45 Buy PER22x
02/16/11 DMG & Partners SGX 8.3 9.45 Buy

04/08/10 Kim Eng SGX 7.84 7 Hold PER22x
04/19/10 Kim Eng SGX 8.26 7 Sell
06/09/10 Kim Eng SGX 7.32 7.1 Hold
08/03/10 Kim Eng SGX 7.79 7.1 Hold PER22x
10/19/10 Kim Eng SGX 10.04 10 Hold
10/26/10 Kim Eng SGX 8.95 8.33 Hold PER25x
12/02/10 Kim Eng SGX 8.68 11 Buy PER25x
12/14/10 Kim Eng SGX 8.45 11 Buy PER25x
01/19/11 Kim Eng SGX 8.5 10.3 Buy PER30x

03/19/10 Lim & Tan SGX 8.36 0 Neutral
03/22/10 Lim & Tan SGX 8.36 0 Neutral
07/29/10 Lim & Tan SGX 7.68 0 Neutral
08/02/10 Lim & Tan SGX 7.66 0 Neutral
10/07/10 Lim & Tan SGX 9.48 0 Hold
10/18/10 Lim & Tan SGX 10.12 0 Hold
12/02/10 Lim & Tan SGX 8.68 0 Neutral
01/18/11 Lim & Tan SGX 8.43 0 Hold
02/10/11 Lim & Tan SGX 8.34 0 Neutral

09/20/10 Macquarie SGX 8.44 9.5 Outperform

04/16/10 OCBC SGX 8.26 8.35 Hold PER25x
08/03/10 OCBC SGX 7.79 7.93 Hold PER23x
09/14/10 OCBC SGX 7.93 7.5 Hold
10/18/10 OCBC SGX 10.12 8.6 Sell
10/26/10 OCBC SGX 8.95 8.97 Hold PER26x
01/18/11 OCBC SGX 8.43 8.97 Hold
02/16/11 OCBC SGX 8.3 8.97 Hold

06/28/10 phillip SGX 7.57 9 Buy DCF, PER22.5x
08/03/10 phillip SGX 7.79 9 Buy
10/08/10 phillip SGX 9.47 10.5 Buy PER24.1x
10/19/10 phillip SGX 10.04 10.5 Buy
10/27/10 phillip SGX 8.72 10.5 Buy
01/19/11 phillip SGX 8.5 9.88 Buy

10/08/10 UBS SGX 9.47 10.5 Buy