Osim - Do you like massages?

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

09/24/10 DMG & Partners Osim 0.99 1.32 Buy PER17x
10/21/10 DMG & Partners Osim 1.05 1.57 Buy PER17x
10/27/10 DMG & Partners Osim 1.16 1.57 Buy PER17x
12/02/10 DMG & Partners Osim 1.47 1.66 Buy PER18x
12/10/10 DMG & Partners Osim 1.7 1.66 Neutral PER18x
01/27/11 DMG & Partners Osim 1.72 1.66 Neutral PER18x
01/28/11 DMG & Partners Osim 1.72 1.66 Neutral PER18x

12/01/10 IIFL Osim 1.47 1.8 Buy PER21.3x
01/28/11 IIFL Osim 1.67 2.2 Buy

07/21/10 Macquarie Osim 1 1.5 Buy
11/23/10 Macquarie Osim 1.32 2 Outperform

07/01/10 OCBC Osim 0.905 1.22 Buy PER22x
07/21/10 OCBC Osim 1 1.29 Buy PER22x
09/02/10 OCBC Osim 0.97 1.29 Buy
09/27/10 OCBC Osim 0.995 1.29 Buy PER22x
10/20/10 OCBC Osim 1.05 1.52 Buy PER22x
12/02/10 OCBC osim 1.47 1.52 Buy Under Review
12/10/10 OCBC Osim 1.7 1.52 Under Review
12/13/10 OCBC Osim 1.63 1.68 Hold PER22x
01/27/11 OCBC Osim 1.72 1.96 Buy PER22x

Olam - Not everyone loves commodity trader with 1% profit margin.

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

05/14/10 CIMB Olam 2.52 3.45 Outperform PER21.5x
06/08/10 CIMB Olam 2.44 3.45 Outperform PER21.5x
08/27/10 CIMB Olam 2.51 2.7 Neutral PER16.9x
11/12/10 CIMB Olam 3.33 3.3 Neutral PER18.5x
11/15/10 CIMB Olam 3.25 3.3 Neutral PER18.5x
12/16/10 CIMB Olam 3.07 3.3 Neutral PER18.5x
01/31/11 CIMB Olam 3.09 3.3 Neutral PER18.5x

08/27/10 Credit Suisse Olam 2.51 4.25 Outperform
11/02/10 Credit Suisse Olam 3.18 4.25 Outperform

05/14/10 DBS Vickers Olam 2.52 3.29 Buy DCF
05/18/10 DBS Vickers Olam 2.39 3.29 Buy
06/09/10 DBS Vickers Olam 2.47 3.29 Buy DCF
08/18/10 DBS Vickers Olam 2.55 3.29 Buy
08/24/10 DBS Vickers Olam 2.49 3.3 Buy DCF
08/27/10 DBS Vickers Olam 2.51 3.3 Buy
09/24/10 DBS Vickers Olam 3.15 3.3 Buy
10/15/10 DBS Vickers Olam 3.3 3.6 Buy
11/02/10 DBS Vickers Olam 3.18 3.6 Buy
11/16/10 DBS Vickers Olam 3.18 3.6 Buy
12/03/10 DBS Vickers Olam 3.07 3.6 Buy
01/03/11 DBS Vickers Olam 3.14 3.6 Buy
01/28/11 DBS Vickers Olam 3.11 3.7 Buy DCF
02/01/11 DBS Vickers Olam 3.04 3.7 Buy

01/10/11 DIR Olam 3.2 3.72 Buy

04/01/10 DMG & Partners Olam 2.61 3.24 Buy
05/14/10 DMG & Partners Olam 2.52 3.24 Buy DCF, PER20.4x
06/09/10 DMG & Partners Olam 2.47 3.24 Buy DCF
08/18/10 DMG & Partners Olam 2.55 3.24 Buy DCF
08/27/10 DMG & Partners Olam 2.51 3.24 Buy DCF, PER21x
11/12/10 DMG & Partners Olam 3.33 3.24 Neutral DCF
02/02/11 DMG & Partners Olam 3.04 3.24 Neutral DCF, PER19x

09/08/10 HSBC Olam 2.72 3.41 Overweight

05/14/10 Kim Eng Olam 2.52 3 Buy PER25x
08/27/10 Kim Eng Olam 2.51 3.1 Buy PER20x
10/04/10 Kim Eng Olam 3.31 3.23 Hold PER25x
11/12/10 Kim Eng Olam 3.33 3.31 Hold
12/02/10 Kim Eng Olam 3.1 3.88 Buy PER25x
12/06/10 Kim Eng Olam 3.15 3.88 Buy PER25x
02/01/11 Kim Eng Olam 3.04 3.88 Buy PER25x

09/27/10 Lim & Tan Olam 3.15 3.4 Hold

08/27/10 Nomura Olam 2.51 3.4 Buy
10/19/10 Nomura Olam 3.32 3.4 Buy

03/10/10 OCBC Olam 2.54 3.36 Buy
04/06/10 OCBC Olam 2.62 3.36 Buy
04/27/10 OCBC Olam 2.69 3.36 Buy
06/15/10 OCBC Olam 2.56 3.61 Buy
08/27/10 OCBC Olam 2.51 3.38 Buy PER22x
09/02/10 OCBC Olam 2.67 3.38 Buy
09/08/10 OCBC Olam 2.72 3.38 Buy
12/03/10 OCBC Olam 3.1 3.88 Buy Under Review
12/09/10 OCBC Olam 3.2 3.53 Buy
12/14/10 OCBC Olam 3.11 3.53 Buy

12/02/10 UOB Kay Hian Olam 3.1 3.8 Buy

OKP - Analysts like this main contractor.

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

04/01/10 CIMB OKP 0.525 0.85 Outperform PER10x

10/26/10 DBS Vickers OKP 0.565 0.7 Buy
12/01/10 DBS Vickers OKP 0.525 0.7 Buy Sum of parts

10/01/10 OCBC OKP 0.47 0.7 Buy Sum of parts

Market analyses for US market (Dow Jones Industrial Average Index), Japan market (Nikkei 225 Index), Hong Kong market (Hang Seng Index) & Singapore market (Straits Times Index)

The charts above dated 11/02/11 indicate US, Japan & Hong Kong markets have fund inflows unlike Singapore stock market.

Oceanus - Is abalone not as delicious as before?

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

01/31/11 DIR Oceanus 0.295 0.375 Buy

05/19/10 DMG & Partners Oceanus 0.35 0.43 Buy PER12.8x
07/20/10 DMG & Partners Oceanus 0.31 0.43 Buy
07/26/10 DMG & Partners Oceanus 0.305 0.43 Buy
08/16/10 DMG & Partners Oceanus 0.305 0.4 Buy PER7.9x
08/17/10 DMG & Partners Oceanus 0.305 0.4 Buy PER7.9x
10/26/10 DMG & Partners Oceanus 0.325 0.4 Buy
11/09/10 DMG & Partners Oceanus 0.325 0.4 Buy DCF
11/10/10 DMG & Partners Oceanus 0.325 0.4 Buy DCF

05/21/10 OCBC Oceanus 0.335 0.365 Hold
06/18/10 OCBC Oceanus 0.325 0.32 Hold

02/26/10 phillip Oceanus 0.355 0.58 Buy FCFE Model
06/09/10 phillip Oceanus 0.305 0.34 Hold DCF
07/06/10 phillip Oceanus 0.31 0.34 Hold
07/06/10 phillip Oceanus 0.31 0.34 Hold
08/16/10 phillip Oceanus 0.305 0.34 Hold
11/09/10 phillip Oceanus 0.325 0.34 Hold

OCBC - How is this bank doing?

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

11/10/10 BNP Paribas OCBC 9.89 11.4 Buy

02/22/10 CIMB OCBC 8.54 9.38 Neutral
04/30/10 CIMB OCBC 8.69 9.38 Neutral
05/05/10 CIMB OCBC 8.59 10 Outperform Gordon Growth Model, PB1.77x
05/18/10 CIMB OCBC 8.84 10 Outperform
06/03/10 CIMB OCBC 8.25 10 Outperform PB1.9x, Gordon Growth Model
08/03/10 CIMB OCBC 9.08 10.08 Outperform PB1.78x
10/28/10 CIMB OCBC 8.94 10.08 Outperform PB1.78x, Gordon Growth Model
11/02/10 CIMB OCBC 9.22 11.04 Outperform PB1.82x & Gordon Growth Model
11/15/10 CIMB OCBC 9.98 11.04 Neutral PB1.82x & Gordon Growth Model
02/10/11 CIMB OCBC 9.64 11.04 Outperform PB1.82x & GGM

02/22/10 DBS Vickers OCBC 8.54 9.5 Buy Gordon Growth Model
03/04/10 DBS Vickers OCBC 8.45 9.5 Buy Gordon Growth Model
04/08/10 DBS Vickers OCBC 8.91 10.15 Buy BV1.8x
04/15/10 DBS Vickers OCBC 9.16 10.15 Buy PB1.8x
05/03/10 DBS Vickers OCBC 8.8 10.15 Buy PB1.8x
05/06/10 DBS Vickers OCBC 8.59 10.2 Buy Gordon Growth Model
05/19/10 DBS Vickers OCBC 8.84 10.2 Buy Gordon Growth Model, PB1.8x
06/01/10 DBS Vickers OCBC 8.33 10.2 Buy
07/22/10 DBS Vickers OCBC 8.8 10.2 Buy PB1.8x
08/02/10 DBS Vickers OCBC 14.4 16 Buy PB1.4x
08/03/10 DBS Vickers OCBC 9.08 10.7 Buy
09/02/10 DBS Vickers OCBC 8.79 10.7 Buy
11/02/10 DBS Vickers OCBC 9.22 10.7 Buy
11/18/10 DBS Vickers OCBC 9.88 11.3 Buy PB1.9x, PER14x, GGM
01/28/11 DBS Vickers OCBC 9.96 11.3 Buy

02/22/10 DMG & Partners OCBC 8.54 9 Neutral PB1.6x
04/28/10 DMG & Partners OCBC 8.81 9 Neutral PB1.6x
05/06/10 DMG & Partners OCBC 8.59 9 Neutral PB1.6x
05/11/10 DMG & Partners OCBC 8.55 9 Neutral PB1.6x
07/29/10 DMG & Partners OCBC 9.1 9 Neutral PB1.6x
08/03/10 DMG & Partners OCBC 9.08 9 Neutral PB1.6x
10/22/10 DMG & Partners OCBC 9.1 9 Neutral
11/02/10 DMG & Partners OCBC 9.22 9.6 Neutral PB1.54x
02/09/11 DMG & Partners OCBC 9.75 9.6 Neutral PB1.54x
02/10/11 DMG & Partners OCBC 9.75 9.6 Neutral PB1.54x

02/22/10 Kim Eng OCBC 8.54 9.5 Hold PB1.65x
03/08/10 Kim Eng OCBC 8.53 9.5 Hold
05/06/10 Kim Eng OCBC 8.59 9.73 Hold PB1.69x
08/03/10 Kim Eng OCBC 9.08 9.7 Hold PB1.69x
11/02/10 Kim Eng OCBC 9.22 10.5 Buy PB1.65x
11/22/10 Kim Eng OCBC 9.79 11.15 Buy PB1.9x, GGM

02/22/10 phillip OCBC 8.54 8.63 Hold NAV1.54x
05/03/10 phillip OCBC 8.8 8.63 Hold Gordon Growth Model
05/06/10 phillip OCBC 8.59 9.1 Hold Gordon Growth Model, PB1.72x
08/03/10 phillip OCBC 9.08 9.1 Hold Gordon Growth Model
11/02/10 phillip OCBC 9.22 9.1 Hold
12/01/10 phillip OCBC 9.93 9.1 Neutral

01/21/11 RBS OCBC 10 12 Buy

11/03/10 UOB Kay Hian OCBC 9.3 11.98 Buy

NOL - Citigroup and Phillip still don't like shipping liner.

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

05/18/10 CIMB NOL 2.14 2.5 Outperform
05/25/10 CIMB NOL 1.89 2.5 Outperform PB1.8x
06/22/10 CIMB NOL 2.1 2.5 Outperform PB1.8x
07/20/10 CIMB NOL 1.96 2.25 Outperform PB1.5x
07/22/10 CIMB NOL 1.98 2.25 Outperform PB1.5x
08/06/10 CIMB NOL 2.13 2.25 Outperform PB1.4x
08/10/10 CIMB NOL 2.06 2.25 Outperform PB1.4x
09/14/10 CIMB NOL 2.03 2.25 Outperform PB1.5x
10/12/10 CIMB NOL 2.07 2.25 Outperform PB1.5x
10/20/10 CIMB NOL 2.06 2.63 Outperform PB1.4x
10/26/10 CIMB NOL 2.1 2.63 Outperform PB1.4x
12/15/10 CIMB NOL 2.19 2.63 Outperform
01/14/11 CIMB NOL 2.32 2.72 Outperform PB1.5x
02/01/11 CIMB NOL 2.2 2.72 Outperform PB1.5x

08/31/10 Citigroup NOL 1.95 1.6 Sell PB1x
11/24/10 Citigroup NOL 2.1 2.4 Hold

07/28/10 DBS Vickers NOL 2.03 2.4 Buy EV/Ebitda 7x
08/10/10 DBS Vickers NOL 2.06 2.4 Buy
09/27/10 DBS Vickers NOL 2.04 2.4 Buy
10/12/10 DBS Vickers NOL 2.07 2.4 Buy
10/20/10 DBS Vickers NOL 2.06 2.5 Buy EV/Ebitda7x

09/22/10 Macquarie NOL 2 2.5 Outperform

06/29/10 OCBC NOL 2.03 2.35 Buy
08/10/10 OCBC NOL 2.06 2.41 Buy
09/02/10 OCBC NOL 1.91 2.41 Buy
09/09/10 OCBC NOL 1.98 2.41 Buy
10/01/10 OCBC NOL 1.98 2.41 Buy NTA1.46x
10/12/10 OCBC NOL 2.07 2.41 Buy
10/20/10 OCBC NOL 2.06 2.5 Buy

07/01/10 phillip NOL 2 2.03 Hold BV1.3x
08/10/10 phillip NOL 2.06 2.03 Hold
08/10/10 phillip NOL 2.06 2.03 Hold PB1.24x
09/24/10 phillip NOL 2.03 2.06 Hold PB1.24x
10/20/10 phillip NOL 2.06 2.36 Buy
12/17/10 phillip NOL 2.16 2.41 Hold BV1.3x

Noble - Analysts still like commodity trader.

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

02/12/10 CIMB Noble 2.92 3.7 Outperform
03/26/10 CIMB Noble 3.18 3.75 Outperform PER14x
04/07/10 CIMB Noble 3.21 3.75 Outperform PER14x
04/19/10 CIMB Noble 3.13 3.75 Outperform
04/20/10 CIMB Noble 3.1 3.75 Outperform PER14x
05/07/10 CIMB Noble 2.88 3.75 Outperform PER14x
05/14/10 CIMB Noble 2.95 3.75 Outperform
06/02/10 CIMB Noble 1.72 2.42 Outperform PER14x
06/08/10 CIMB Noble 1.78 2.42 Outperform
08/05/10 CIMB Noble 1.66 2.2 Outperform PER12.8x
08/13/10 CIMB Noble 1.59 1.27 Underperform PER12x
09/21/10 CIMB Noble 1.94 1.62 Neutral PER13x
11/10/10 CIMB Noble 2.13 2.45 Outperform PER14x
12/21/10 CIMB Noble 2.04 2.6 Outperform PER14x

11/03/10 CLSA Noble 1.95 2.42 Buy

02/24/10 DBS Vickers Noble 3.12 3.5 Buy DCF
03/24/10 DBS Vickers Noble 3.12 3.5 Buy DCF
04/01/10 DBS Vickers Noble 3.06 3.7 Buy
05/07/10 DBS Vickers Noble 2.88 3.7 Buy
05/18/10 DBS Vickers Noble 1.83 2.37 Buy
08/11/10 DBS Vickers Noble 1.65 2 Buy DCF
08/13/10 DBS Vickers Noble 1.59 1.62 Hold DCF
09/21/10 DBS Vickers Noble 1.94 1.85 Hold
11/10/10 DBS Vickers Noble 2.13 2.6 Buy DCF, PER17.9x

02/25/10 DMG & Partners Noble 3.12 3.57 Buy PER17x
03/24/10 DMG & Partners Noble 3.19 3.57 Buy
04/07/10 DMG & Partners Noble 3.21 3.57 Buy
04/20/10 DMG & Partners Noble 3.1 3.57 Buy
05/07/10 DMG & Partners Noble 2.88 3.57 Buy PER17x
05/18/10 DMG & Partners Noble 1.83 2.31 Buy PER17x, Bonus Issue
06/15/10 DMG & Partners Noble 1.79 2.31 Buy
08/05/10 DMG & Partners Noble 1.66 2.31 Buy
08/16/10 DMG & Partners Noble 1.59 1.92 Buy PER17x
09/21/10 DMG & Partners Noble 1.94 2.24 Buy PER12.6x
10/22/10 DMG & Partners Noble 1.94 2.24 Buy RNAV
11/03/10 DMG & Partners Noble 1.95 2.24 Buy
11/10/10 DMG & Partners Noble 2.13 2.46 Buy PER13.8x
12/21/10 DMG & Partners Noble 2.04 2.58 Buy PER13.8x
01/05/11 DMG & Partners Noble 2.04 2.58 Buy

12/08/10 Goldman Sachs Noble 2.15 2.6 Buy PER16.3x

10/13/10 HSBC Noble 1.95 2.58 Overweight

12/23/10 IIFL Noble 2.08 2.78 Buy

06/01/10 Kim Eng Noble 1.81 2.38 Buy PER15x
06/29/10 Kim Eng Noble 1.78 2.38 Buy PER15x
08/13/10 Kim Eng Noble 1.59 2.06 Buy PER15x
11/10/10 Kim Eng Noble 2.13 2.58 Buy
12/02/10 Kim Eng Noble 2.08 2.58 Buy PER18x
12/07/10 Kim Eng Noble 2.08 2.95 Buy PER20x
01/10/11 Kim Eng Noble 2.29 3 Buy PER20x

02/24/10 Lim & Tan Noble 3.12 0 Buy
04/01/10 Lim & Tan Noble 3.06 0 Hold
04/07/10 Lim & Tan Noble 3.21 0 Buy
04/12/10 Lim & Tan Noble 3.21 0 Hold
04/15/10 Lim & Tan Noble 3.2 0 Buy
04/16/10 Lim & Tan Noble 3.21 0 Buy
04/20/10 Lim & Tan Noble 3.1 0 Buy
06/21/10 Lim & Tan Noble 1.84 0 Buy
08/13/10 Lim & Tan Noble 1.59 0 Buy
12/09/10 Lim & Tan Noble 2.15 0 Overweight

02/08/11 Nomura Noble 2.27 2.76 Buy

03/10/10 OCBC Noble 3.35 3.75 Buy
04/06/10 OCBC Noble 3.19 3.75 Buy
04/08/10 OCBC Noble 3.24 3.75 Buy
04/21/10 OCBC Noble 3.11 3.75 Buy
04/27/10 OCBC Noble 3.08 3.75 Buy
06/07/10 OCBC Noble 1.82 2.42 Buy
06/15/10 OCBC Noble 1.79 2.42 Buy
08/05/10 OCBC Noble 1.66 2.27 Buy
08/13/10 OCBC Noble 1.59 1.87 Buy PER17x
09/02/10 OCBC Noble 1.57 1.87 Buy
09/08/10 OCBC Noble 1.71 1.87 Buy
09/21/10 OCBC Noble 1.89 1.97 Buy
09/28/10 OCBC Noble 1.91 1.97 Hold
11/22/10 OCBC Noble 2.08 2.59 Buy
12/14/10 OCBC Noble 2.11 2.59 Buy

08/23/10 phillip Noble 1.63 1.96 Buy PER13x
09/22/10 phillip Noble 1.94 1.96 Hold PER13x
11/10/10 phillip Noble 2.13 2.33 Buy PER15x
12/15/10 phillip Noble 2.11 2.33 Buy

Nera Telecommunication - Buy call from Lim & Tan.

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

09/03/10 Lim & Tan Nera Telecom 0.325 0 Buy
10/14/10 Lim & Tan Nera Telecom 0.34 0 Buy Div Yield 8.8%

Baltic Dry Index (BDI) - 1064

Quote:

The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, rose for a second day on Tuesday, helped by firmer sentiment and expectation of higher cargo demand.

But brokers said signs that China's economy was overheating could put a dampener on appetite for iron ore and coal.

The index rose 1.82 per cent, or 19 points, to 1,064 points.

End Quote.

Natural Cool - Buy call from Netresearch.

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

12/28/10 NRA Natural Cool 0.18 0.235 Buy

Mun Siong - Buy call from DMG.

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

12/08/10 DMG & Partners Mun Siong 0.18 0.28 Buy DCF, PER7.8x
01/26/11 DMG & Partners Mun Siong 0.205 0.28 Buy DCF

Midas - Some analysts had downgraded the target prices.

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

03/04/10 CIMB Midas 1.01 1.21 Outperform PER15x

04/30/10 CIMB Midas 1.03 1.21 Outperform
06/28/10 CIMB Midas 0.96 1.17 Outperform PER15x
08/16/10 CIMB Midas 0.91 1.14 Outperform PER15x
09/01/10 CIMB Midas 0.87 1.14 Outperform PER15x
09/22/10 CIMB Midas 1.07 1.1 Neutral PER15x
11/15/10 CIMB Midas 0.97 1.14 Outperform PER15x
11/24/10 CIMB Midas 0.93 1.26 Outperform PER15x
01/14/11 CIMB Midas 0.99 1.26 Outperform PER15x

04/06/10 DBS Vickers Midas 1.06 1.3 Buy PER22x
05/07/10 DBS Vickers Midas 0.99 1.3 Buy PER20x
07/22/10 DBS Vickers Midas 0.93 1.3 Buy PER20x
09/06/10 DBS Vickers Midas 0.9 1.21 Buy PER20x
09/27/10 DBS Vickers Midas 1.02 1.21 Buy
10/28/10 DBS Vickers Midas 0.94 1.21 Buy
11/15/10 DBS Vickers Midas 0.97 1.2 Buy PER20x
11/26/10 DBS Vickers Midas 0.935 1.2 Buy PER20x
01/10/11 DBS Vickers Midas 0.99 1.2 Buy PER20x

05/07/10 DMG & Partners Midas 0.97 1.28 Buy PER19.9x
05/10/10 DMG & Partners Midas 0.99 1.28 Buy PER19.9x
05/13/10 DMG & Partners Midas 1 1.28 Buy PER19.9x
07/15/10 DMG & Partners Midas 0.945 1.28 Buy
08/16/10 DMG & Partners Midas 0.91 1.28 Buy
08/19/10 DMG & Partners Midas 0.91 1.28 Buy PER19.9x
09/09/10 DMG & Partners Midas 0.945 1.28 Buy
09/21/10 DMG & Partners Midas 1.05 1.28 Buy
09/29/10 DMG & Partners Midas 0.96 1.2 Buy PER20x
10/06/10 DMG & Partners Midas 1.03 1.2 Buy
10/28/10 DMG & Partners Midas 0.935 1.2 Buy
11/16/10 DMG & Partners Midas 0.97 1.2 Buy PER20x
12/02/10 DMG & Partners Midas 0.935 1.2 Buy PER20x
12/03/10 DMG & Partners Midas 0.94 1.2 Buy
02/08/11 DMG & Partners Midas 0.93 1.2 Buy PER20x

03/11/10 Kim Eng Midas 1.07 1.22 Buy PER22x
03/16/10 Kim Eng Midas 1.05 0 Buy
07/09/10 Kim Eng Midas 0.905 1.22 Buy PER22x
07/22/10 Kim Eng Midas 0.93 1.22 Buy PER22x
08/16/10 Kim Eng Midas 0.91 1.2 Buy
08/26/10 Kim Eng Midas 0.895 1.2 Buy PER22x
09/20/10 Kim Eng Midas 1.02 1.2 Buy
10/11/10 Kim Eng Midas 1.02 1.15 Buy PER25x
11/15/10 Kim Eng Midas 0.97 1.15 Buy
12/01/10 Kim Eng Midas 0.935 1.15 Buy PER22x

03/04/10 Lim & Tan Midas 1.01 0 Buy
03/05/10 Lim & Tan Midas 1.04 0 Buy
04/12/10 Lim & Tan Midas 1.09 0 Buy
05/07/10 Lim & Tan Midas 0.99 0 Buy
07/21/10 Lim & Tan Midas 0.925 0 Buy
08/16/10 Lim & Tan Midas 0.91 0 Buy
08/26/10 Lim & Tan Midas 0.875 0 Buy
09/02/10 Lim & Tan Midas 0.895 0 Buy
09/21/10 Lim & Tan Midas 1.05 0 Buy
11/15/10 Lim & Tan Midas 0.97 0 Buy
11/26/10 Lim & Tan Midas 0.935 0 Buy
02/08/11 Lim & Tan Midas 0.93 0 Buy

03/24/10 OCBC Midas 1.06 1.3 Buy
05/07/10 OCBC Midas 0.99 1.58 Buy
05/31/10 OCBC Midas 0.9 1.58 Buy
06/23/10 OCBC Midas 0.985 1.58 Buy
07/19/10 OCBC Midas 0.935 1.27 Buy PER20x
08/16/10 OCBC Midas 0.91 1.29 Buy
08/30/10 OCBC Midas 0.86 1.29 Buy
09/02/10 OCBC Midas 0.865 1.29 Buy
09/03/10 OCBC Midas 0.895 1.29 Buy
09/16/10 OCBC Midas 0.995 1.29 Buy
09/21/10 OCBC Midas 1.05 1.29 Buy PER20x
10/14/10 OCBC Midas 1 1.05 Hold
01/03/11 OCBC Midas 0.945 1.22 Buy

07/09/10 phillip Midas 0.905 1.16 Buy PER21x
07/29/10 phillip Midas 0.995 1.21 Buy PER21x
08/16/10 phillip Midas 0.91 1.21 Buy
09/02/10 phillip Midas 0.895 1.21 Buy
09/21/10 phillip Midas 1.05 1.21 Buy
10/07/10 phillip Midas 1.01 1.16 Buy PER21x
10/29/10 phillip Midas 0.97 1.16 Buy PER21x
11/15/10 phillip Midas 0.97 1.16 Buy
12/27/10 phillip Midas 0.935 1.16 Buy PER21x

Micro-Mechanics - OCBC is a strong supporter of this stock.

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

04/09/10 OCBC Micro-Mechanics 0.42 0.4 Hold NTA1.5x
04/27/10 OCBC Micro-Mechanics 0.425 0.55 Buy PER12x
05/04/10 OCBC Micro-Mechanics 0.425 0.57 Buy
05/26/10 OCBC Micro-Mechanics 0.4 0.57 Buy PER12x
06/08/10 OCBC Micro-Mechanics 0.4 0.57 Buy PER12x
07/01/10 OCBC Micro-Mechanics 0.39 0.57 Buy
07/08/10 OCBC Micro-Mechanics 0.39 0.57 Buy PER12x
08/31/10 OCBC Micro-Mechanics 0.435 0.58 Buy
09/02/10 OCBC Micro-Mechanics 0.44 0.58 Buy
09/13/10 OCBC Micro-Mechanics 0.44 0.58 Buy PER12x
10/05/10 OCBC Micro-Mechanics 0.445 0.58 Buy PER12x
12/07/10 OCBC Micro-Mechanics 0.44 0.58 Buy PER12x
01/04/11 OCBC Micro-Mechanics 0.45 0.58 Buy PER12x
02/01/11 OCBC Micro-Mechanics 0.495 0.67 Buy PER12x

Mewah - Buy calls from analysts.

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

02/01/11 CIMB Mewah 1.12 1.41 Outperform PER13x

12/10/10 DMG & Partners Mewah 0.995 1.3 Buy

Mermaid - This stock is sinking to the bottom of the sea.

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

06/21/10 CIMB Mermaid 0.54 0.49 Underperform PER10x
07/13/10 CIMB Mermaid 0.475 0.35 Underperform PER10x
08/06/10 CIMB Mermaid 0.49 0.35 Underperform
08/16/10 CIMB Mermaid 0.465 0.31 Underperform PER10x
08/19/10 CIMB Mermaid 0.44 0.31 Underperform
10/25/10 CIMB Mermaid 0.48 0.57 Outperform PER10x
11/09/10 CIMB Mermaid 0.47 0.52 Neutral PER10x
11/29/10 CIMB Mermaid 0.435 0.46 Underperform PB0.7x
01/28/11 CIMB Mermaid 0.42 0.46 Underperform

10/04/10 DBS Vickers Mermaid 0.45 0.52 Hold PB0.8x
10/22/10 DBS Vickers Mermaid 0.455 0.52 Hold
11/29/10 DBS Vickers Mermaid 0.44 0.49 Hold PB0.8x
01/03/11 DBS Vickers Mermaid 0.43 0.49 Hold

Mercator - Hold call from Phillip.

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

07/27/10 phillip Mercator 0.29 0.32 Hold PB0.7x
10/27/10 phillip Mercator 0.285 0.32 Hold PB0.8x
02/02/11 phillip Mercator 0.26 0.28 Hold PB0.7x

Meiban - Hold call from DBS Vickers.

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

07/15/10 DBS Vickers Meiban 0.305 0.3 Hold
08/12/10 DBS Vickers Meiban 0.295 0.3 Hold PER8x

Marco Polo Marine - Buy calls from analysts.

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

08/03/10 DMG & Partners Marco Polo 0.44 0.53 Buy PEG0.46x
08/16/10 DMG & Partners Marco Polo 0.415 0.525 Buy PEG0.45x
08/25/10 DMG & Partners Marco Polo 0.415 0.525 Buy
09/07/10 DMG & Partners Marco Polo 0.425 0.525 Buy
10/06/10 DMG & Partners Marco Polo 0.47 0.505 Neutral PEG0.45
10/15/10 DMG & Partners Marco Polo 0.46 0.505 Neutral
11/26/10 DMG & Partners Marco Polo 0.4 0.585 Buy
01/04/11 DMG & Partners Marco Polo 0.435 0.585 Buy
01/10/11 DMG & Partners Marco Polo 0.455 0.605 Buy PEG0.45x

09/24/10 Kim Eng Marco Polo 0.47 0.62 Buy PER9x
09/27/10 Kim Eng Marco Polo 0.47 0.62 Buy PER9x
10/12/10 Kim Eng Marco Polo 0.455 0.55 Buy
11/26/10 Kim Eng Marco Polo 0.4 0.55 Buy PER9x

Baltic Dry Index (BDI) - 1043

Quote:

The index fell just 0.19 per cent, or two points, to 1,043, staying at its lowest since Jan 29, 2009. It tracks the cost of shipping key commodities such as iron ore, cement, grain, coal and fertiliser.

End Quote.

Mapletree Logistics - Mixed calls from analysts.

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

08/27/10 CIMB Mapletree Logistics 0.84 1.01 Outperform DDM
09/23/10 CIMB Mapletree Logistics 0.85 0.96 Outperform DDM
10/22/10 CIMB Mapletree Logistics 0.905 1.01 Outperform DDM
11/18/10 CIMB Mapletree Logistics 0.91 1.01 Outperform DDM
01/05/11 CIMB Mapletree Logistics 0.96 1.01 Outperform DDM

01/24/11 Citigroup Mapletree Logistics 0.985 1 hold

07/27/10 DBS Vickers Mapletree Logistics 0.885 0.98 Buy DCF
07/29/10 DBS Vickers Mapletree Logistics 0.885 1 Buy Div Yield 7.35%
08/18/10 DBS Vickers Mapletree Logistics 0.86 1 Buy
08/31/10 DBS Vickers Mapletree Logistics 0.85 1 Buy
10/22/10 DBS Vickers Mapletree Logistics 0.905 1.01 Buy
12/17/10 DBS Vickers Mapletree Logistics 0.93 1.01 Buy
01/24/11 DBS Vickers Mapletree Logistics 0.995 1.07 Buy

07/12/10 OCBC Mapletree Logistics 0.85 0.84 Buy
07/27/10 OCBC Mapletree Logistics 0.885 0.86 Hold
07/29/10 OCBC Mapletree Logistics 0.885 0.89 Hold
09/23/10 OCBC Mapletree Logistics 0.85 0.9 Buy
09/30/10 OCBC Mapletree Logistics 0.865 0.9 Buy
10/22/10 OCBC Mapletree Logistics 0.905 0.97 Buy
11/03/10 OCBC Mapletree Logistics 0.895 0.97 Buy
11/23/10 OCBC Mapletree Logistics 0.89 1 Buy RNAV
12/10/10 OCBC Mapletree Logistics 0.93 1 Buy RNAV
01/21/11 OCBC Mapletree Logistics 0.98 1.03 Buy RNAV

Mapletree Industrial - Mixed calls from analysts.

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

01/26/11 Goldman Sachs Mapletree Industrial 1.09 0 Neutral

01/26/11 DBS Vickers Mapletree Industrial 1.09 1.18 Buy

M1 - Mixed calls by analysts.

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

04/19/10 AmFraser M1 2.12 2.29 Hold
07/16/10 AmFraser M1 2.18 2.29 Hold

03/05/10 CIMB M1 2.05 2.07 Neutral DCF
04/15/10 CIMB M1 2.1 2.26 Neutral
07/16/10 CIMB M1 2.16 2.2 Outperform DCF
07/26/10 CIMB M1 2.2 2.2 Outperform
07/28/10 CIMB M1 2.23 2.2 Outperform DCF
08/30/10 CIMB M1 2.15 2.6 Outperform
09/13/10 CIMB M1 2.25 2.6 Outperform
10/18/10 CIMB M1 2.24 2.7 Outperform DCF
10/19/10 CIMB M1 2.25 2.65 Outperform DCF
11/12/10 CIMB M1 2.24 2.65 Outperform DCF
01/20/11 CIMB M1 2.5 2.65 Neutral DCF

03/15/10 DBS Vickers M1 2.1 2.15 Buy
04/19/10 DBS Vickers M1 2.14 2.28 Buy PER13x
06/04/10 DBS Vickers M1 2.11 2.28 Buy
07/16/10 DBS Vickers M1 2.16 2.3 Buy DCF
07/30/10 DBS Vickers M1 2.14 2.3 Buy
08/18/10 DBS Vickers M1 2.1 2.3 Buy
09/01/10 DBS Vickers M1 2.17 2.3 Buy
09/07/10 DBS Vickers M1 2.26 2.3 Buy Div Yield 6.5%
09/30/10 DBS Vickers M1 2.21 2.5 Buy
10/19/10 DBS Vickers M1 2.25 2.5 Buy DCF
01/03/11 DBS Vickers M1 2.37 2.6 Buy
01/20/11 DBS Vickers M1 2.5 2.6 Buy

04/01/10 DMG & Partners M1 2.11 2.3 Buy
04/09/10 DMG & Partners M1 2.08 2.55 Buy DCF
04/19/10 DMG & Partners M1 2.14 2.55 Buy DCF
04/28/10 DMG & Partners M1 2.15 2.55 Buy
05/10/10 DMG & Partners M1 2.05 2.55 Buy
06/01/10 DMG & Partners M1 2.07 2.55 Buy
06/16/10 DMG & Partners M1 2.11 2.55 Buy
07/16/10 DMG & Partners M1 2.16 2.55 Buy DCF
07/22/10 DMG & Partners M1 2.18 2.55 Buy
09/01/10 DMG & Partners M1 2.17 2.55 Buy
09/07/10 DMG & Partners M1 2.26 2.55 Buy
10/19/10 DMG & Partners M1 2.25 2.55 Buy DCF
10/20/10 DMG & Partners M1 2.25 2.55 Buy DCF
11/12/10 DMG & Partners M1 2.24 2.55 Buy
11/23/10 DMG & Partners M1 2.26 2.55 Buy
01/05/11 DMG & Partners M1 2.34 2.55 Buy
01/20/11 DMG & Partners M1 2.5 2.85 Buy
01/26/11 DMG & Partners M1 2.45 2.85 Buy

03/18/10 Kim Eng M1 2.14 2.45 Buy
04/19/10 Kim Eng M1 2.14 2.62 Buy PER15x
07/07/10 Kim Eng M1 2.17 2.62 Buy
07/16/10 Kim Eng M1 2.16 2.22 Hold
10/06/10 Kim Eng M1 2.22 2.62 Buy
10/19/10 Kim Eng M1 2.25 2.62 Buy
11/12/10 Kim Eng M1 2.24 2.62 Buy
11/19/10 Kim Eng M1 2.25 2.63 Buy PER15x
01/14/11 Kim Eng M1 2.48 2.88 Buy PER15x & Div Yield 5%
01/28/11 Kim Eng M1 2.41 2.88 Buy

04/12/10 OCBC M1 2.09 2.28 Buy
05/19/10 OCBC M1 2.15 2.4 Buy 6.5% Div Yield
06/16/10 OCBC M1 2.11 2.4 Buy Div Yield 6.6%
07/28/10 OCBC M1 2.23 2.4 Buy Div Yield 6.6%
09/01/10 OCBC M1 2.17 2.4 Buy Div Yield 5.9%
09/02/10 OCBC M1 2.17 2.4 Buy
10/11/10 OCBC M1 2.23 2.4 Buy Div Yield 5.8%
11/29/10 OCBC M1 2.23 2.7 Buy DCF
01/04/11 OCBC M1 2.35 2.7 Buy Div Yield 6%
01/12/11 OCBC M1 2.43 2.7 Buy DCF
01/20/11 OCBC M1 2.5 2.79 Buy DCF

10/19/10 phillip M1 2.25 2.22 Hold
01/20/11 phillip M1 2.5 2.55 Hold

01/24/11 UBS M1 2.46 2.48 Neutral

Longcheer - Analysts downgraded this stock.

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

09/27/10 DBS Vickers Longcheer 0.78 1.11 Buy
10/22/10 DBS Vickers Longcheer 0.79 1.28 Buy
11/01/10 DBS Vickers Longcheer 0.795 1.11 Buy PER10x
01/20/11 DBS Vickers Longcheer 0.635 0.49 Sell PB1.3x
01/28/11 DBS Vickers Longcheer 0.445 0.49 Hold PB1.3x

11/08/10 Lim & Tan Longcheer 0.81 0 Buy
01/10/11 Lim & Tan Longcheer 0.68 0 Take Profit
01/12/11 Lim & Tan Longcheer 0.66 0 Take Profit
01/28/11 Lim & Tan Longcheer 0.445 0 Sell

Lippo-Mapletree Indonesia - Buy calls from DBS Vickers & OCBC.

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

11/04/10 DBS Vickers Lippo-Mapletree Indo 0.54 0.6 Buy Sum of parts (20% discount)

02/11/10 OCBC Lippo-Mapletree Indo 0.49 0.59 Buy Sum of parts (20% discount), PB0.71x
03/04/10 OCBC Lippo-Mapletree Indo 0.49 0.59 Buy
03/12/10 OCBC Lippo-Mapletree Indo 0.495 0.59 Buy
04/14/10 OCBC Lippo-Mapletree Indo 0.49 0.59 Buy
05/07/10 OCBC Lippo-Mapletree Indo 0.485 0.55 Buy Sum of parts (20% discount)
05/12/10 OCBC Lippo-Mapletree Indo 0.485 0.55 Buy
06/23/10 OCBC Lippo-Mapletree Indo 0.485 0.55 Buy Sum of parts (20% discount)
07/12/10 OCBC Lippo-Mapletree Indo 0.485 0.55 Buy
07/30/10 OCBC Lippo-Mapletree Indo 0.495 0.52 Buy Sum of parts (20% discount)
09/02/10 OCBC Lippo-Mapletree Indo 0.46 0.52 Buy
09/30/10 OCBC Lippo-Mapletree Indo 0.5 0.52 Buy
11/09/10 OCBC Lippo-Mapletree Indo 0.55 0.6 Buy
12/10/10 OCBC Lippo-Mapletree Indo 0.53 0.59 Buy

Li Heng - Downgraded by Kim Eng.

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

02/26/10 Kim Eng Li Heng 0.275 0.37 Buy PER10x
05/17/10 Kim Eng Li Heng 0.24 0.35 Buy PER10x
07/05/10 Kim Eng Li Heng 0.215 0.35 Buy PER10x
11/10/10 Kim Eng Li Heng 0.225 0.24 Hold PER9x

02/25/10 Lim & Tan Li Heng 0.27 0 Buy
02/26/10 Lim & Tan Li Heng 0.275 0 Buy

02/26/10 OCBC Li Heng 0.275 0.34 Buy DCF
04/15/10 OCBC Li Heng 0.3 0.34 Buy DCF
05/17/10 OCBC Li Heng 0.24 0.34 Buy
06/28/10 OCBC Li Heng 0.225 0.32 Buy DCF
08/16/10 OCBC Li Heng 0.215 0.32 Buy DCF
09/02/10 OCBC Li Heng 0.19 0.32 Buy

Leader Environment - A superb stock!

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

01/04/11 DMG & Partners Leader Environment 0.22 0.53 Buy PER8.7x

KSH - DMG is a strong supporter for this stock.

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

08/12/10 DMG & Partners KSH 0.27 0.35 Buy Sum of parts
09/29/10 DMG & Partners KSH 0.26 0.35 Buy
11/10/10 DMG & Partners KSH 0.265 0.33 Buy Sum of parts
11/23/10 DMG & Partners KSH 0.26 0.33 Buy

KS Energy - OCBC is right to dislike this company.

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

11/09/10 DnB Nor KS Energy 1.09 1.4 Buy NAV1.38, EV/Ebitda5.7x

02/17/10 OCBC KS Energy 1.26 1.23 Hold Sum of parts
03/05/10 OCBC KS Energy 1.25 1.2 Hold
05/06/10 OCBC KS Energy 1.29 1.23 Hold
05/17/10 OCBC KS Energy 1.24 1.21 Hold
05/20/10 OCBC KS Energy 1.19 1.21 Hold
06/09/10 OCBC KS Energy 1.15 1.23 Hold
06/18/10 OCBC KS Energy 1.17 1.21 Hold
07/08/10 OCBC KS Energy 1.08 1.21 Hold
07/15/10 OCBC KS Energy 1.11 1.21 Hold
08/13/10 OCBC KS Energy 1.02 1.11 Hold
09/13/10 OCBC KS Energy 1 1.23 Hold
09/27/10 OCBC KS Energy 1.07 1.11 Hold
10/04/10 OCBC KS Energy 1.08 1.11 Hold
11/10/10 OCBC KS Energy 1.08 1.11 Hold
12/02/10 OCBC KS Energy 1.02 1.11 Hold

Kreuz - Buy call from DnB Nor.

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

11/09/10 DnB Nor Kreuz 0.44 0.5 Buy DCF

K-Reit - CIMB doesn't know how to value this reit.

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

07/20/10 CIMB K-Reit 1.21 1.21 Neutral DDM
10/12/10 CIMB K-Reit 1.37 1.26 Underperform DDM
10/19/10 CIMB K-Reit 1.37 1.26 Underperform DDM
11/18/10 CIMB K-Reit 1.38 1.26 Underperform DDM
12/07/10 CIMB K-Reit 1.42 1.43 Neutral DDM
01/05/11 CIMB K-Reit 1.43 1.26 Underperform DDM
01/21/11 CIMB K-Reit 1.44 1.5 Neutral DDM

07/20/10 DBS Vickers K-Reit 1.21 1.2 Hold DCF
10/19/10 DBS Vickers K-Reit 1.37 1.2 Hold DCF
01/21/11 DBS Vickers K-Reit 1.44 1.24 Hold DCF

10/12/10 Lim & Tan K-Reit 1.37 0 Hold
10/19/10 Lim & Tan K-Reit 1.37 0 Buy

Koda - OCBC downgraded the target price from $0.30 to $0.275.

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

07/28/10 OCBC Koda 0.2 0.275 Buy NTA
09/02/10 OCBC Koda 0.195 0.275 Buy

Kingsmen Creatives - Downgraded by OCBC.

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

08/13/10 DMG & Partners Kingsmen Creatives 0.59 0.77 Buy
08/18/10 DMG & Partners Kingsmen Creatives 0.6 0.77 Buy
08/19/10 DMG & Partners Kingsmen Creatives 0.6 0.82 Buy PER9x

08/13/10 Kim Eng Kingsmen Creatives 0.59 0.85 Buy
11/12/10 Kim Eng Kingsmen Creatives 0.6 0.79 Buy
12/07/10 Kim Eng Kingsmen Creatives 0.565 0.79 Buy

09/02/10 OCBC Kingsmen Creatives 0.595 0.82 Buy
01/28/11 OCBC Kingsmen Creatives 0.575 0.665 Hold PER9x
01/31/11 OCBC Kingsmen Creatives 0.565 0.65 Hold

Kian Ann - Only DMG supports this stock.

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

02/18/10 DMG & Partners Kian Ann 0.18 0.17 Neutral DDM
05/19/10 DMG & Partners Kian Ann 0.175 0.22 Buy PER7.1x
05/20/10 DMG & Partners Kian Ann 0.175 0.22 Buy PER7.1x
05/24/10 DMG & Partners Kian Ann 0.175 0.22 Buy PER7.1x
06/17/10 DMG & Partners Kian Ann 0.16 0.22 Buy
07/01/10 DMG & Partners Kian Ann 0.175 0.22 Buy
09/03/10 DMG & Partners Kian Ann 0.195 0.22 Buy PER7.1x
09/29/10 DMG & Partners Kian Ann 0.2 0.22 Buy
11/15/10 DMG & Partners Kian Ann 0.205 0.24 Buy PER7x
11/23/10 DMG & Partners Kian Ann 0.205 0.24 Buy

Baltic Dry Index (BDI) - 1107

Quote:

The index fell 30 points, or 2.6 per cent, to 1,107 points, the lowest since Feb 2, 2009, according to data from the Baltic Exchange here. Rates dropped 38 per cent last month, and 17 per cent last week alone.

End Quote.

K-Green Trust - Hold call from DBS Vickers but Buy call from Lim & Tan.

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

06/25/10 DBS Vickers K-Green Trust 1.13 1.2 Hold Div Yield 6.5%

01/19/11 Lim & Tan K-Green Trust 1.1 0 Buy Div Yield 7.7%

Keppel Land - Mixed calls by analysts, not as good as KepCorp.

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

04/21/10 AmFraser Keppel Land 3.66 3.87 Hold RNAV
07/21/10 AmFraser Keppel Land 4.21 3.88 Hold RNAV
08/30/10 AmFraser Keppel Land 3.93 3.88 Hold
10/21/10 AmFraser Keppel Land 4.49 4.28 Hold RNAV

02/02/10 CIMB Keppel Land 3.3 4.37 Outperform
03/09/10 CIMB Keppel Land 3.47 4.53 Outperform RNAV
04/16/10 CIMB Keppel Land 3.83 4.53 Outperform
04/19/10 CIMB Keppel Land 3.77 4.53 Outperform
04/21/10 CIMB Keppel Land 3.66 4.53 Outperform RNAV
05/05/10 CIMB Keppel Land 3.7 4.51 Outperform RNAV
05/10/10 CIMB Keppel Land 3.53 4.51 Outperform
05/18/10 CIMB Keppel Land 3.69 4.51 Outperform
05/18/10 CIMB Keppel Land 3.65 4.51 Outperform
05/20/10 CIMB Keppel Land 3.57 4.71 Outperform RNAV
06/14/10 CIMB Keppel Land 3.8 4.71 Outperform
06/15/10 CIMB Keppel Land 3.84 4.72 Outperform
07/21/10 CIMB Keppel Land 4.21 4.94 Outperform RNAV
10/12/10 CIMB Keppel Land 4.11 5.09 Outperform RNAV (10% discount)
10/21/10 CIMB Keppel Land 4.5 5.13 Outperform RNAV (10% discount)
11/10/10 CIMB Keppel Land 4.92 5.64 Outperform RNAV
01/04/11 CIMB Keppel Land 4.84 5.88 Outperform RNAV
01/25/11 CIMB Keppel Land 4.57 5.91 Outperform RNAV
01/28/11 CIMB Keppel Land 4.64 5.91 Outperform

07/21/10 Credit Suisse Keppel Land 4.21 4.13 Neutral RNAV (16% discount)

03/08/10 DBS Vickers Keppel Land 3.45 3.69 Hold
04/21/10 DBS Vickers Keppel Land 3.66 4.13 Buy RNAV (10% discount)
04/23/10 DBS Vickers Keppel Land 3.72 4.14 Buy RNAV (10% discount)
06/16/10 DBS Vickers Keppel Land 3.83 4.13 Buy
07/16/10 DBS Vickers Keppel Land 4.05 4.14 Buy
07/21/10 DBS Vickers Keppel Land 4.21 4.53 Buy RNAV (10% discount)
08/17/10 DBS Vickers Keppel Land 3.9 4.53 Buy
08/31/10 DBS Vickers Keppel Land 3.85 4.53 Buy
10/18/10 DBS Vickers Keppel Land 4.28 4.75 Buy
10/21/10 DBS Vickers Keppel Land 4.5 4.89 Buy RNAV (10% discount)
10/28/10 DBS Vickers Keppel Land 4.41 4.91 Buy
12/16/10 DBS Vickers Keppel Land 4.7 4.89 Buy
12/20/10 DBS Vickers Keppel Land 4.54 4.96 Buy
01/25/11 DBS Vickers Keppel Land 4.57 5.09 Buy RNAV (10% discount)

03/15/10 DMG & Partners Keppel Land 3.64 3.84 Neutral
04/06/10 DMG & Partners Keppel Land 3.72 3.84 Buy RNAV
04/16/10 DMG & Partners Keppel Land 3.83 3.84 Neutral
04/21/10 DMG & Partners Keppel Land 3.66 3.84 Neutral RNAV
05/05/10 DMG & Partners Keppel Land 3.7 3.86 Neutral RNAV
07/21/10 DMG & Partners Keppel Land 4.21 4.6 Buy RNAV
07/22/10 DMG & Partners Keppel Land 4.21 4.6 Buy
07/29/10 DMG & Partners Keppel Land 4.07 4.6 Buy
08/12/10 DMG & Partners Keppel Land 3.88 4.6 Buy
09/24/10 DMG & Partners Keppel Land 3.98 4.6 Buy
10/12/10 DMG & Partners Keppel Land 4.11 4.8 Buy RNAV
10/20/10 DMG & Partners Keppel Land 4.5 5 Buy RNAV
10/22/10 DMG & Partners Keppel Land 4.59 5 Buy RNAV
01/25/11 DMG & Partners Keppel Land 4.57 5 Neutral

03/24/10 Kim Eng Keppel Land 3.6 4.68 Buy RNAV (10% premium)
04/21/10 Kim Eng Keppel Land 3.66 4.68 Buy
05/27/10 Kim Eng Keppel Land 3.48 4.71 Buy RNAV (10% premium)
07/12/10 Kim Eng Keppel Land 4 4.71 Buy RNAV (10% premium)
07/21/10 Kim Eng Keppel Land 4.21 4.85 Buy RNAV (10% premium)
09/01/10 Kim Eng Keppel Land 3.88 4.82 Buy PB1.1x
10/21/10 Kim Eng Keppel Land 4.5 5.6 Buy RNAV (10% premium)
12/02/10 Kim Eng Keppel Land 4.84 5.6 Buy RNAV (10% premium)
01/25/11 Kim Eng Keppel Land 4.57 5.82 Buy RNAV (10% premium)

10/12/10 Lim & Tan Keppel Land 4.11 0 Buy
11/09/10 Lim & Tan Keppel Land 5.05 0 Buy

11/24/10 Nomura Keppel Land 4.57 5.5 Buy PB2x

03/03/10 OCBC Keppel Land 3.41 3.82 Hold
03/12/10 OCBC Keppel Land 3.61 3.82 Buy
03/26/10 OCBC Keppel Land 3.67 4.16 Buy RNAV
04/05/10 OCBC Keppel Land 3.71 4.16 Buy
04/21/10 OCBC Keppel Land 3.66 4.18 Buy RNAV
06/03/10 OCBC Keppel Land 3.46 4.18 Buy RNAV
06/07/10 OCBC Keppel Land 3.71 4.18 Buy RNAV
06/16/10 OCBC Keppel Land 3.83 4.18 Buy
07/05/10 OCBC Keppel Land 3.95 4.18 Buy
07/12/10 OCBC Keppel Land 4 4.5 Buy RNAV
07/16/10 OCBC Keppel Land 4.05 4.5 Buy
11/02/10 OCBC Keppel Land 4.61 4.5 Buy Under Review
11/16/10 OCBC Keppel Land 4.94 4.96 Buy
11/25/10 OCBC Keppel Land 4.57 4.5 Under Review RNAV
12/08/10 OCBC Keppel Land 4.84 4.5 Buy Under Review

11/19/10 phillip Keppel Land 4.76 5.04 Hold RNAV
12/16/10 phillip Keppel Land 4.62 5.04 Hold
01/26/11 phillip Keppel Land 4.61 4.99 Hold RNAV

10/18/10 UBS Keppel Land 4.33 5.08 Buy

07/21/10 UOB Kay Hian Keppel Land 4.21 4.9 Buy

Keppel Corporation - Buy calls from all analysts.

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

04/15/10 AmFraser Keppel Corp 9.45 10.65 Buy Sum of parts

02/02/10 CIMB Keppel Corp 8.54 10.9 Outperform Sum of parts
03/19/10 CIMB Keppel Corp 9.16 11.4 Outperform RNAV
03/22/10 CIMB Keppel Corp 9.02 11.4 Outperform Sum of parts
04/23/10 CIMB Keppel Corp 9.97 11.4 Outperform Sum of parts
05/18/10 CIMB Keppel Corp 9.15 12 Outperform
05/31/10 CIMB Keppel Corp 8.72 12 Outperform Sum of parts
06/03/10 CIMB Keppel Corp 8.52 12 Outperform
07/23/10 CIMB Keppel Corp 8.85 10.7 Outperform Sum of parts
09/20/10 CIMB Keppel Corp 9.1 10.7 Outperform Sum of parts
10/22/10 CIMB Keppel Corp 9.71 11.3 Outperform Sum of parts
11/26/10 CIMB Keppel Corp 10.78 13 Outperform Sum of parts
01/04/11 CIMB Keppel Corp 11.5 13 Outperform
01/26/11 CIMB Keppel Corp 11.34 13.9 Outperform Sum of parts
01/28/11 CIMB Keppel Corp 12.12 14.1 Outperform Sum of parts

11/19/10 Citigroup Keppel Corp 10.88 12.8 Buy

07/22/10 Credit Suisse Keppel Corp 8.75 10.4 Overweight
01/17/11 Credit Suisse Keppel Corp 11.58 13.5 Overweight

02/02/10 DBS Vickers Keppel Corp 8.54 8.43 Hold RNAV (10% discount), PER13.4x
04/23/10 DBS Vickers Keppel Corp 9.97 11.5 Buy Sum of parts
06/28/10 DBS Vickers Keppel Corp 8.76 11.5 Buy
07/23/10 DBS Vickers Keppel Corp 8.85 11.05 Buy Sum of parts
10/22/10 DBS Vickers Keppel Corp 9.71 11.3 Buy
11/22/10 DBS Vickers Keppel Corp 10.88 11.3 Buy
11/26/10 DBS Vickers Keppel Corp 10.78 11.3 Buy
11/29/10 DBS Vickers Keppel Corp 10.8 12.2 Buy Sum of parts (10% discount)
12/03/10 DBS Vickers Keppel Corp 10.82 12.2 Buy
12/13/10 DBS Vickers Keppel Corp 3.67 4.95 Buy
01/03/11 DBS Vickers Keppel Corp 10.8 12.5 Buy Sum of parts (10% discount)
01/04/11 DBS Vickers Keppel Corp 11.5 12.5 Buy
01/24/11 DBS Vickers Keppel Corp 11.36 12.5 Under Review
01/26/11 DBS Vickers Keppel Corp 11.34 13.55 Buy Sum of parts
01/27/11 DBS Vickers Keppel Corp 11.92 13.55 Buy

11/22/10 Deutsche Keppel Corp 11.04 12.5 Buy

03/02/10 DMG & Partners Keppel Corp 8.44 9.9 Buy Sum of parts, PER14.6x
03/22/10 DMG & Partners Keppel Corp 9.02 9.9 Buy Sum of parts
04/01/10 DMG & Partners Keppel Corp 9.02 9.9 Buy
04/23/10 DMG & Partners Keppel Corp 9.97 9.9 Neutral Sum of parts, PER16.2x, PB2.7x
05/06/10 DMG & Partners Keppel Corp 9.19 9.9 Buy
06/17/10 DMG & Partners Keppel Corp 8.7 9.9 Neutral
06/30/10 DMG & Partners Keppel Corp 8.6 9.9 Buy Sum of parts
07/23/10 DMG & Partners Keppel Corp 8.85 10.22 Buy
07/30/10 DMG & Partners Keppel Corp 9.26 10.22 Buy Sum of parts
08/10/10 DMG & Partners Keppel Corp 9.08 10.22 Buy Sum of parts
09/13/10 DMG & Partners Keppel Corp 8.99 10.22 Buy Sum of parts
09/30/10 DMG & Partners Keppel Corp 8.98 10.22 Buy PER14x
10/13/10 DMG & Partners Keppel Corp 9.63 10.32 Buy Sum of parts
11/26/10 DMG & Partners Keppel Corp 10.8 11 Buy
12/03/10 DMG & Partners Keppel Corp 10.82 12 Buy PER17.3x
12/15/10 DMG & Partners Keppel Corp 10.88 12 Buy
01/03/11 DMG & Partners Keppel Corp 11.32 12 Buy
01/24/11 DMG & Partners Keppel Corp 11.36 12 Buy
01/25/11 DMG & Partners Keppel Corp 11.36 12 Buy
01/26/11 DMG & Partners Keppel Corp 11.34 13 Buy Sum of parts
01/28/11 DMG & Partners Keppel Corp 11.92 13 Buy Sum of parts

01/06/11 Goldman Sachs Keppel Corp 11.5 13 Buy

04/01/10 Kim Eng Keppel Corp 9.02 11.07 Buy Sum of parts
04/06/10 Kim Eng Keppel Corp 9.56 11.07 Buy Sum of parts
04/15/10 Kim Eng Keppel Corp 9.45 11.7 Buy Sum of parts
04/23/10 Kim Eng Keppel Corp 9.97 11.07 Buy RNAV (10% discount)
06/03/10 Kim Eng Keppel Corp 8.52 11.07 Buy Sum of parts
07/22/10 Kim Eng Keppel Corp 8.75 11.07 Buy
07/23/10 Kim Eng Keppel Corp 8.85 11.07 Buy Sum of parts
09/23/10 Kim Eng Keppel Corp 9 11.07 Buy Sum of parts
10/22/10 Kim Eng Keppel Corp 9.71 11.7 Buy sum of parts
11/26/10 Kim Eng Keppel Corp 10.78 11.7 Buy
12/02/10 Kim Eng Keppel Corp 10.96 12.3 Buy Sum of parts (5% discount)
12/03/10 Kim Eng Keppel Corp 10.82 12.3 Buy Sum of parts (5% discount)
12/09/10 Kim Eng Keppel Corp 10.92 12.3 Buy
01/24/11 Kim Eng Keppel Corp 11.36 12.3 Buy
01/26/11 Kim Eng Keppel Corp 11.36 13.05 Buy Sum of parts

02/02/10 Lim & Tan Keppel Corp 8.54 0 Buy
04/15/10 Lim & Tan Keppel Corp 9.45 0 Buy
04/23/10 Lim & Tan Keppel Corp 9.97 0 Buy
05/31/10 Lim & Tan Keppel Corp 8.72 0 Buy
11/26/10 Lim & Tan Keppel Corp 10.78 0 Buy
12/13/10 Lim & Tan Keppel Corp 10.86 0 Buy
01/26/11 Lim & Tan Keppel Corp 11.34 0 Buy

10/19/10 Nomura Keppel Corp 9.59 11 Buy
12/03/10 Nomura Keppel Corp 10.82 13.1 Buy
01/04/11 Nomura Keppel Corp 11.5 13.1 Buy
01/31/11 Nomura Keppel Corp 12.02 15 Buy

03/05/10 OCBC Keppel Corp 8.47 9.93 Buy
03/11/10 OCBC Keppel Corp 8.59 9.93 Buy
03/29/10 OCBC Keppel Corp 9.15 10.2 Buy Sum of parts
04/05/10 OCBC Keppel Corp 9.44 10.2 Buy
04/23/10 OCBC Keppel Corp 9.97 11.22 Buy
05/06/10 OCBC Keppel Corp 9.19 11.22 Buy
05/20/10 OCBC Keppel Corp 8.9 11.22 Buy
06/02/10 OCBC Keppel Corp 8.56 11.22 Buy
06/09/10 OCBC Keppel Corp 8.5 11.22 Buy
07/08/10 OCBC Keppel Corp 8.45 11.22 Buy
07/15/10 OCBC Keppel Corp 8.9 11.22 Buy
09/02/10 OCBC Keppel Corp 8.95 11.22 Buy
09/08/10 OCBC Keppel Corp 9.15 11.22 Buy
09/13/10 OCBC Keppel Corp 8.99 11.22 Buy
09/27/10 OCBC Keppel Corp 9.04 11.22 Buy
10/04/10 OCBC Keppel Corp 9.11 11.22 Buy
10/25/10 OCBC Keppel Corp 9.89 11.22 Buy
11/26/10 OCBC Keppel Corp 10.78 12.5 Buy Sum of parts
12/02/10 OCBC Keppel Corp 10.96 12.5 Buy
12/03/10 OCBC Keppel Corp 10.82 12.5 Buy
12/06/10 OCBC Keppel Corp 10.82 12.2 Buy
01/24/11 OCBC Keppel Corp 11.36 12.5 Buy
01/26/11 OCBC Keppel Corp 11.34 13.24 Buy Sum of parts

12/06/10 phillip Keppel Corp 10.82 12.52 Buy
12/15/10 phillip Keppel Corp 10.88 12.52 Buy
01/17/11 phillip Keppel Corp 11.58 13.5 Outperform Sum of parts
01/26/11 phillip Keppel Corp 11.34 13.4 Buy

12/22/10 RBS Keppel Corp 10.72 13 Buy

Karin - Buy call from OCBC.

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

08/26/10 OCBC Karin 0.215 0.28 Buy PER8x
09/02/10 OCBC Karin 0.22 0.28 Buy
11/24/10 OCBC Karin 0.215 0.28 Buy PER8x
12/07/10 OCBC Karin 0.21 0.28 Buy PER8x

JES - DBS Vickers likes ships builder.

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

11/09/10 DBS Vickers JES 0.36 0.46 Buy PB1.5x
12/16/10 DBS Vickers JES 0.35 0.5 Buy PB1.5x
01/04/11 DBS Vickers JES 0.38 0.5 Buy
01/31/11 DBS Vickers JES 0.34 0.5 Buy PB1.5x

Jaya - Buy calls from analysts.

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

10/14/10 DBS Vickers Jaya 0.68 1.15 Buy RNAV
11/09/10 DBS Vickers Jaya 0.73 1.15 Buy RNAV
01/03/11 DBS Vickers Jaya 0.72 1.15 Buy

11/09/10 DnB Nor Jaya 0.73 1 Buy NAV 1.09

Innotek - Lim & Tan withdrew buy call for this stock.

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

11/30/10 Lim & Tan Innotek 0.545 0 Withdraw Buy call

Indofood Agri - Mixed calls by analysts.

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

05/03/10 AmFraser Indofood Agri 2.42 2.3 Hold

04/30/10 CIMB Indofood Agri 2.42 2.86 Trading Buy PER18x
08/12/10 CIMB Indofood Agri 2.45 2.25 Underperform PER15x
08/12/10 CIMB Indofood Agri 2.45 2.25 Underperform PER15x
09/13/10 CIMB Indofood Agri 2.35 2.25 Underperform
12/09/10 CIMB Indofood Agri 2.89 3.24 Neutral PER18x

02/26/10 DBS Vickers Indofood Agri 2.15 2.3 Hold
05/03/10 DBS Vickers Indofood Agri 2.4 2.75 Buy
05/17/10 DBS Vickers Indofood Agri 2.22 2.75 Buy
08/13/10 DBS Vickers Indofood Agri 2.34 2.4 Hold DCF
11/01/10 DBS Vickers Indofood Agri 2.6 3.05 Buy
11/22/10 DBS Vickers Indofood Agri 2.66 3.05 Buy
12/13/10 DBS Vickers Indofood Agri 2.84 3.05 Buy

03/03/10 DMG & Partners Indofood Agri 2.09 2.02 Neutral PER15x
05/03/10 DMG & Partners Indofood Agri 2.39 2.19 Neutral PER15x
08/16/10 DMG & Partners Indofood Agri 2.34 2.33 Neutral PER15x
12/09/10 DMG & Partners Indofood Agri 2.89 2.92 Buy Under Review

02/26/10 Kim Eng Indofood Agri 2.11 2.61 Buy PER18x
05/03/10 Kim Eng Indofood Agri 2.4 2.79 Buy PER17x
08/13/10 Kim Eng Indofood Agri 2.34 2.34 Hold PER17x
11/01/10 Kim Eng Indofood Agri 2.6 2.34 Hold

01/04/11 Nomura Indofood Agri 2.89 3.2 Buy

12/06/10 OCBC Indofood Agri 2.84 3.05 Buy

03/25/10 phillip Indofood Agri 2.15 2.51 Buy DCF
05/03/10 phillip Indofood Agri 2.4 2.83 Buy DCF
08/13/10 phillip Indofood Agri 2.34 2.67 Hold DCF
10/18/10 phillip Indofood Agri 2.65 2.78 Hold RNAV
11/01/10 phillip Indofood Agri 2.6 2.78 Hold DCF
01/20/11 phillip Indofood Agri 2.81 2.91 Hold DCF

Hyflux Water Trust - Just accept the offer and move on.

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

08/03/10 DBS Vickers Hyflux Water Trust 0.685 0.78 Accept Offer

Hyflux - Downgraded by analysts.

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

10/08/10 CIMB Hyflux 3.17 4.52 Outperform Sum of parts (5% discount)
11/08/10 CIMB Hyflux 3.18 4.06 Outperform Sum of parts

11/08/10 DBS Vickers Hyflux 3.18 3.2 Hold Sum of parts

11/08/10 Kim Eng Hyflux 3.18 2.81 Hold Sum of parts

09/07/10 OCBC Hyflux 3.03 3.89 Buy
11/08/10 OCBC Hyflux 3.18 3.66 Buy PER25x
11/23/10 OCBC Hyflux 3.28 3.66 Buy PER25x
01/13/11 OCBC Hyflux 2.38 2.7 Buy PER25x

Huan Hsin - Buy call from CIMB.

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

02/24/10 CIMB Huan Hsin 0.26 0.37 Outperform PB0.5x
03/11/10 CIMB Huan Hsin 0.23 0.37 Outperform
04/26/10 CIMB Huan Hsin 0.38 0.53 Outperform PB0.7x

Baltic Dry Index (BDI) - 1137

Quote:

The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 4.13 per cent, or 49 points, to 1,137 points and was at its lowest since Feb 2, 2009.

End Quote.

Hu An Cable - Buy calls from analysts.

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

01/11/11 CIMB Hu An Cable 0.4 0.64 Outperform

10/08/10 phillip Hu An Cable 0.415 0.53 Buy
11/10/10 phillip Hu An Cable 0.365 0.53 Buy PER5.5x

HTL - Furniture making is no longer a good business.

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

05/05/10 CIMB HTL 0.79 1.1 Outperform PER8x
05/12/10 CIMB HTL 0.72 1.1 Outperform PER8x
05/18/10 CIMB HTL 0.66 1.1 Outperform
07/08/10 CIMB HTL 0.6 0.73 Outperform PER6x
08/12/10 CIMB HTL 0.73 0.85 Outperform PER7x

03/22/10 DBS Vickers HTL 0.68 1.09 Buy PER7x
03/26/10 DBS Vickers HTL 0.79 1.09 Buy PER7x
05/10/10 DBS Vickers HTL 0.76 0.8 Hold PER7x
05/13/10 DBS Vickers HTL 0.72 0.8 Hold PER7x
08/13/10 DBS Vickers HTL 0.725 0.8 Hold PER7x

04/08/10 DMG & Partners HTL 0.84 1.1 Buy PER8x
04/12/10 DMG & Partners HTL 0.89 1.1 Buy PER8x
05/13/10 DMG & Partners HTL 0.72 1.1 Buy
05/14/10 DMG & Partners HTL 0.675 0.99 Buy PER8x
05/17/10 DMG & Partners HTL 0.675 0.99 Buy PER8x
07/12/10 DMG & Partners HTL 0.615 0.7 Buy PER8x
08/16/10 DMG & Partners HTL 0.75 0.73 Neutral PER8x
11/11/10 DMG & Partners HTL 0.67 0.65 Neutral PER8x

Hour Glass - Do you like watches?

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

02/11/10 Kim Eng Hour Glass 0.71 0.87 Buy BV
05/26/10 Kim Eng Hour Glass 0.8 0.92 Hold DCF
08/06/10 Kim Eng Hour Glass 0.84 0.92 Hold

Hotel Properties - Buy call from Kim Eng.

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

02/23/10 DBS Vickers Hotel Properties 2.03 2.17 Hold RNAV (20% discount)
05/14/10 DBS Vickers Hotel Properties 2.22 2.3 Hold RNAV (20% discount)

02/23/10 Kim Eng Hotel Properties 2.03 2.4 Buy RNAV (20% discount)
06/02/10 Kim Eng Hotel Properties 2.05 3.33 Buy RNAV (20% discount)
01/05/11 Kim Eng Hotel Properties 2.83 3.38 Buy RNAV (20% discount)

Hong Leong Finance - Mixed calls by analysts.

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

04/26/10 DMG & Partners Hong Leong Finance 3.16 3.5 Buy NTA
11/11/10 DMG & Partners Hong Leong Finance 3.09 3.61 Buy PB1x

11/11/10 Lim & Tan Hong Leong Finance 3.09 0 Hold Buy @ $2.70-2.80
01/25/11 Lim & Tan Hong Leong Finance 3.04 0 Hold

Baltic Dry Index (BDI) - 1292.

Quote:

The Baltic Exchange's main sea freight index , which tracks rates to ship dry commodities, slid to a near two-year low of 1,292 points on Tuesday, as a glut of ships and slow business took their toll.

End Quote.

Hong Leong Asia - Downgraded by some analysts.

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

02/02/10 CIMB Hong Leong Asia 3.52 6.33 Outperform
02/05/10 CIMB Hong Leong Asia 3.35 6.33 Outperform Sum of parts
02/10/10 CIMB Hong Leong Asia 3.4 6.33 Outperform Sum of parts
03/01/10 CIMB Hong Leong Asia 3.68 6.4 Outperform Sum of parts
03/17/10 CIMB Hong Leong Asia 4.01 6 Outperform Sum of parts
04/01/10 CIMB Hong Leong Asia 4.54 6 Outperform Sum of parts
04/19/10 CIMB Hong Leong Asia 4.94 6 Outperform
04/27/10 CIMB Hong Leong Asia 4.85 6 Outperform Sum of parts
05/17/10 CIMB Hong Leong Asia 4.24 5.78 Outperform Sum of parts
05/18/10 CIMB Hong Leong Asia 4 5.78 Outperform
05/31/10 CIMB Hong Leong Asia 3.2 4.88 Outperform Sum of parts
07/14/10 CIMB Hong Leong Asia 3.45 4.86 Outperform Sum of parts
08/16/10 CIMB Hong Leong Asia 3.71 3.21 Underperform Sum of parts
11/15/10 CIMB Hong Leong Asia 3.43 3.23 Underperform Sum of parts

03/01/10 DBS Vickers Hong Leong Asia 3.68 4.36 Buy Sum of parts
03/08/10 DBS Vickers Hong Leong Asia 3.85 4.36 Buy
04/14/10 DBS Vickers Hong Leong Asia 4.7 5.67 Buy Sum of parts
08/12/10 DBS Vickers Hong Leong Asia 3.73 4.54 Hold Under Review

04/01/10 DMG & Partners Hong Leong Asia 4.54 6 Buy Sum of parts
04/06/10 DMG & Partners Hong Leong Asia 4.7 6 Buy Sum of parts
05/14/10 DMG & Partners Hong Leong Asia 4.24 5.48 Buy Sum of parts
05/17/10 DMG & Partners Hong Leong Asia 4.24 5.48 Buy
08/16/10 DMG & Partners Hong Leong Asia 3.71 4.88 Buy Sum of parts
10/22/10 DMG & Partners Hong Leong Asia 3.48 4.88 Buy Sum of parts
11/15/10 DMG & Partners Hong Leong Asia 3.43 4.18 Buy Sum of parts (10% discount)

11/22/10 phillip Hong Leong Asia 3.32 3.62 Hold Sum of parts, PER10x

Ho Bee - Mixed calls by analysts.

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

11/12/10 CIMB Ho Bee 1.68 2.07 Outperform RNAV (25% discount)

08/17/10 DBS Vickers Ho Bee 1.61 2.15 Buy
10/18/10 DBS Vickers Ho Bee 1.67 2.24 Buy
12/16/10 DBS Vickers Ho Bee 1.56 2.2 Buy
12/20/10 DBS Vickers Ho Bee 1.56 2.2 Buy

12/23/10 DIR Ho Bee 1.57 1.92 Hold

09/08/10 Kim Eng Ho Bee 1.51 1.91 Buy RNAV (30% discount)
11/12/10 Kim Eng Ho Bee 1.68 1.91 Buy

11/16/10 OCBC Ho Bee 1.66 2.2 Buy

10/04/10 phillip Ho Bee 1.65 1.91 Buy RNAV (20% discount), PER5.6x
11/12/10 phillip Ho Bee 1.68 1.91 Hold
12/16/10 phillip Ho Bee 1.56 1.91 Hold

Hi-P - Upgraded by analysts.

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

08/04/10 Credit Suisse Hi-P 0.815 0.75 Neutral

02/24/10 DBS Vickers Hi-P 0.71 0.53 Fully Valued PER9x
05/06/10 DBS Vickers Hi-P 0.64 0.49 Fully Valued PER9x
06/21/10 DBS Vickers Hi-P 0.54 0.51 Fully Valued PER9x
08/03/10 DBS Vickers Hi-P 0.75 0.94 Buy PER9x
09/22/10 DBS Vickers Hi-P 0.875 1.26 Buy PER11x + 1SD
09/27/10 DBS Vickers Hi-P 0.98 1.26 Buy
09/28/10 DBS Vickers Hi-P 0.98 1.26 Buy
10/22/10 DBS Vickers Hi-P 1.06 1.26 Buy
11/02/10 DBS Vickers Hi-P 1.07 1.3 Buy PER11x
01/17/11 DBS Vickers Hi-P 1.08 1.43 Buy

02/22/10 DMG & Partners Hi-P 0.71 0.725 Neutral PER10.5x
02/26/10 DMG & Partners Hi-P 0.67 0.66 Neutral PER10.4x
05/05/10 DMG & Partners Hi-P 0.67 0.66 Neutral
05/06/10 DMG & Partners Hi-P 0.64 0.595 Neutral PER11.3x
06/21/10 DMG & Partners Hi-P 0.51 0.595 Neutral
08/06/10 DMG & Partners Hi-P 0.78 0.97 Buy PER11.3x
11/03/10 DMG & Partners Hi-P 0.97 1.25 Buy PER12.9x
11/04/10 DMG & Partners Hi-P 1.11 1.25 Buy PER12.9x

02/24/10 Lim & Tan Hi-P 0.71 0 Sell
05/05/10 Lim & Tan Hi-P 0.67 0 Sell
06/21/10 Lim & Tan Hi-P 0.54 0 Hold
09/17/10 Lim & Tan Hi-P 0.9 0 Neutral
09/22/10 Lim & Tan Hi-P 0.875 0 Buy
09/30/10 Lim & Tan Hi-P 1.01 0 Buy
10/01/10 Lim & Tan Hi-P 1.02 0 Buy
10/04/10 Lim & Tan Hi-P 1.08 0 Buy
10/11/10 Lim & Tan Hi-P 1.05 0 Buy
11/02/10 Lim & Tan Hi-P 1.07 0 Buy
01/17/11 Lim & Tan Hi-P 1.08 0 Buy
01/18/11 Lim & Tan Hi-P 1.18 0 Buy

Hiap Seng - Downgraded by CIMB.

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

04/26/10 CIMB Hiap Seng 0.66 1.15 Outperform PER11x
05/18/10 CIMB Hiap Seng 0.68 1.15 Outperform
08/10/10 CIMB Hiap Seng 0.64 0.89 Outperform PER8.5x
11/10/10 CIMB Hiap Seng 0.7 0.92 Outperform PER8.5x
01/20/11 CIMB Hiap Seng 0.655 0.75 Neutral PER7.5x

02/11/10 DBS Vickers Hiap Seng 0.62 0.94 Buy PER12x
05/25/10 DBS Vickers Hiap Seng 0.64 0.94 Buy PER12x
08/10/10 DBS Vickers Hiap Seng 0.635 0.94 Buy Blended PER10.5x
09/23/10 DBS Vickers Hiap Seng 0.65 0.94 Buy PER12x

Hersing - Buy call from Phillip.

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

09/23/10 phillip Hersing 0.3 0.355 Buy FCFE Model
11/18/10 phillip Hersing 0.28 0.355 Buy FCFE Model

Healthway Medical - Target price was downgraded by DMG despite a buy call.

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

05/26/10 DMG & Partners Healthway Medical 0.14 0.3 Buy
08/23/10 DMG & Partners Healthway Medical 0.18 0.23 Buy DCF

Celestial Nutrifood - Another S-chip goes up in smoke!

Celestial Nutrifood is winding up finally after being suspended for so long.

Beware when you invest in China stock or you will end up losing all your money.

Guocoland - Hold calls from analysts.

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

07/16/10 DBS Vickers Guocoland 2.16 2.08 Hold

11/16/10 OCBC Guocoland 2.25 2.08 Hold

Guangzhao - Don't buy this stock as its shares were placed out so cheaply to 2 investors.

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

09/30/10 Lim & Tan Guangzhao 0.14 0 Sell Shares placed out to 2 investors @$0.04

Goodpack - Downgraded by some analysts.

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

05/24/10 AmFraser Goodpack 1.44 1.5 Accumulate PER15.7x

05/27/10 CIMB Goodpack 1.43 1.89 Outperform PER19x
08/06/10 CIMB Goodpack 1.74 1.89 Outperform
08/30/10 CIMB Goodpack 1.89 1.94 Neutral PER19x
09/08/10 CIMB Goodpack 1.86 2.05 Outperform PER19x
11/12/10 CIMB Goodpack 2.09 2.2 Neutral PER19x

02/10/10 DMG & Partners Goodpack 1.36 1.85 Buy DCF (25% discount)
05/17/10 DMG & Partners Goodpack 1.56 1.85 Buy
05/24/10 DMG & Partners Goodpack 1.44 1.85 Buy PER16.1x
06/21/10 DMG & Partners Goodpack 1.65 1.85 Buy
08/30/10 DMG & Partners Goodpack 1.89 1.82 Neutral DCF
11/12/10 DMG & Partners Goodpack 2.09 1.99 Neutral DCF

02/04/10 Kim Eng Goodpack 1.26 1.98 Buy PER20x
02/11/10 Kim Eng Goodpack 1.33 2.1 Buy PER20x
03/19/10 Kim Eng Goodpack 1.62 2.18 Buy PER20x
05/17/10 Kim Eng Goodpack 1.56 2.18 Buy PER20x
06/04/10 Kim Eng Goodpack 1.64 2.18 Buy PER20x
06/22/10 Kim Eng Goodpack 1.7 2.18 Buy PER20x
08/30/10 Kim Eng Goodpack 1.89 2.4 Buy PER22x
11/12/10 Kim Eng Goodpack 2.09 2.48 Buy PER25x

02/10/10 OCBC Goodpack 1.36 1.51 Buy DCF
05/18/10 OCBC Goodpack 1.54 1.77 Buy DCF
09/02/10 OCBC Goodpack 1.93 2.13 Buy
11/12/10 OCBC Goodpack 2.09 2.28 Buy DDM, PER18.5x

Market analyses for US (Dow Jones Industrial Average Index), Japan (Nikkei 225 Index), Hong Kong (Hang Seng Index) & Singapore (Straits Times Index)

All the charts above are dated 21/01/11.

The 100-day simple moving averages for the daily transacted volumes are usually harbingers of what's to come in the future for the stock market indices.

Golden Agri - Phillips doesn't like plantation stock.

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

02/02/10 CIMB Golden Agri 0.52 0.69 Trading Buy
03/24/10 CIMB Golden Agri 0.56 0.69 Trading Buy PER18x
03/26/10 CIMB Golden Agri 0.54 0.69 Trading Buy
05/13/10 CIMB Golden Agri 0.55 0.72 Outperform PER18x
05/18/10 CIMB Golden Agri 0.54 0.72 Outperform PER18x
06/21/10 CIMB Golden Agri 0.54 0.62 Outperform PER15x
08/11/10 CIMB Golden Agri 0.6 0.62 Trading Buy PER15x
09/28/10 CIMB Golden Agri 0.565 0.62 Trading Buy PER15x
11/12/10 CIMB Golden Agri 0.76 0.88 Outperform PER18x
01/04/11 CIMB Golden Agri 0.82 0.88 Trading Buy

02/03/10 DMG & Partners Golden Agri 0.505 0.635 Buy
02/26/10 DMG & Partners Golden Agri 0.54 0.68 Trading Buy PER15x
05/13/10 DMG & Partners Golden Agri 0.55 0.68 Buy PER12x
08/12/10 DMG & Partners Golden Agri 0.57 0.68 Buy
08/18/10 DMG & Partners Golden Agri 0.575 0.68 Buy
08/23/10 DMG & Partners Golden Agri 0.56 0.5 Neutral PER11x
09/14/10 DMG & Partners Golden Agri 0.585 0.68 Trading Buy PER15x
11/15/10 DMG & Partners Golden Agri 0.76 0.87 Buy

09/06/10 Lim & Tan Golden Agri 0.575 0 Neutral

01/04/11 Nomura Golden Agri 0.82 0.85 Buy

02/26/10 OCBC Golden Agri 0.54 0.66 Buy
03/22/10 OCBC Golden Agri 0.565 0.66 Buy
04/06/10 OCBC Golden Agri 0.61 0.72 Buy PER17x
04/28/10 OCBC Golden Agri 0.6 0.72 Buy
06/21/10 OCBC Golden Agri 0.54 0.72 Buy
07/22/10 OCBC Golden Agri 0.565 0.72 Buy
08/12/10 OCBC Golden Agri 0.57 0.655 Buy PER16x
09/02/10 OCBC Golden Agri 0.56 0.655 Buy
10/26/10 OCBC Golden Agri 0.695 0.78 Buy PER16x
11/12/10 OCBC Golden Agri 0.76 0.78 Hold PER16x
12/14/10 OCBC Golden Agri 0.77 0.91 Buy PER17x

03/02/10 phillip Golden Agri 0.54 0.46 Hold DCF
05/13/10 phillip Golden Agri 0.55 0.66 Buy DCF
08/12/10 phillip Golden Agri 0.57 0.61 Hold DCF
10/06/10 phillip Golden Agri 0.58 0.61 Hold DCF
11/15/10 phillip Golden Agri 0.73 0.72 Hold DCF
01/20/11 phillip Golden Agri 0.76 0.74 Hold DCF

Global Palm Resources - Buy call from Amfraser.

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

01/05/11 Amfraser Global Palm Resources 0.37 0.51 Buy PER12x

Global Logistics - Buy calls from all analysts.

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

11/23/10 Citigroup Global Logistics 2.26 2.78 Buy
12/23/10 Citigroup Global Logistics 2.18 2.8 Buy NAV, PB1.53x
01/07/11 Citigroup Global Logistics 2.19 2.95 Buy NAV

11/24/10 DBS Vickers Global Logistics 2.18 2.76 Buy RNAV
11/30/10 DBS Vickers Global Logistics 2.22 2.76 Buy Sum of parts
12/20/10 DBS Vickers Global Logistics 2.26 2.76 Buy
01/06/11 DBS Vickers Global Logistics 2.16 2.76 Buy Sum of parts

11/19/10 JP Morgan Global Logistics 2.25 2.9 Overweight Sum of parts

11/19/10 Nomura Global Logistics 2.25 2.58 Buy

11/19/10 UBS Global Logistics 2.25 2.65 Buy
11/23/10 UBS Global Logistics 2.26 2.65 Buy

Gentings - HSBC doesn't like casino!

08/13/10 AmFraser Genting 1.28 2.13 Buy

08/25/10 CIMB Genting 1.54 1.88 Outperform Sum of parts
08/25/10 CIMB Genting 1.54 1.88 Outperform Sum of parts
10/11/10 CIMB Genting 1.98 2.45 Outperform Sum of parts
11/12/10 CIMB Genting 2.28 2.7 Outperform Sum of parts
01/04/11 CIMB Genting 2.22 2.7 Outperform

08/13/10 Citigroup Genting 1.46 1.55 Buy EV/Ebitda12.5x
09/15/10 Citigroup Genting 2.03 2.45 Buy Sum of parts & DCF
09/16/10 Citigroup Genting 1.97 2.45 Buy
11/15/10 Citigroup Genting 2.13 2.75 Buy

08/13/10 DBS Vickers Genting 1.28 2 Buy Sum of parts
08/20/10 DBS Vickers Genting 1.55 2 Buy
08/23/10 DBS Vickers Genting 1.5 2 Buy
09/16/10 DBS Vickers Genting 1.97 2.36 Buy EV/Ebitda16.5x
09/27/10 DBS Vickers Genting 2.01 2.36 Buy
11/12/10 DBS Vickers Genting 2.13 2.7 Buy Sum of parts
11/22/10 DBS Vickers Genting 2.04 2.7 Buy
11/23/10 DBS Vickers Genting 2.05 2.7 Buy

08/13/10 DMG & Partners Genting 1.28 2.02 Buy Sum of parts
09/17/10 DMG & Partners Genting 2.03 2.65 Buy Sum of parts
09/20/10 DMG & Partners Genting 2.09 2.65 Buy
09/29/10 DMG & Partners Genting 1.95 2.65 Buy EV/Ebitda16x
10/29/10 DMG & Partners Genting 2.16 2.65 Buy
11/12/10 DMG & Partners Genting 2.28 2.51 Buy Ev/Ebitda 16x
01/05/11 DMG & Partners Genting 2.08 2.51 Buy

11/19/10 HSBC Genting 2.04 2.05 Sell

09/30/10 Macquarie Genting 1.9 1.75 Neutral

08/20/10 Nomura Genting 1.55 1.01 Reduce
09/16/10 Nomura Genting 1.97 1.01 Reduce EV/Ebitda12x

08/13/10 OCBC Genting 1.28 1.66 Buy DCF
08/26/10 OCBC Genting 1.58 1.85 Buy DCF
09/02/10 OCBC Genting 1.69 1.85 Buy
10/01/10 OCBC Genting 1.95 2.38 Buy DCF
11/12/10 OCBC Genting 2.28 2.53 Buy DCF

01/17/11 phillip Genting 2.2 2.74 Buy EV/Ebitda 15x

08/13/10 RHB Genting 1.28 2.4 Outperform EV/Ebitda & DCF

10/22/10 UBS Genting 2.22 2.39 Neutral

08/20/10 UOB Kay Hian Genting 1.55 1.58 Hold

Baltic Dry Index (BDI) - Fell to 1432.

Quote:

The Baltic Dry Index of costs for carrying commodities such as coal and iron ore by sea fell 19 per cent to 1,432 points this year, for a 12-month decline of 57 per cent, data from the Baltic Exchange in London show.

End Quote.

Gallant Venture - Strong buy from Kim Eng.

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

11/23/10 Kim Eng Gallant Venture 0.255 0.75 Buy
12/10/10 Kim Eng Gallant Venture 0.36 0.75 Buy

Fuxing - Buy calls from analysts.

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

08/11/10 DMG & Partners Fuxing 0.155 0.255 Buy Net cash PER6x
09/30/10 DMG & Partners Fuxing 0.17 0.255 Buy Ex-Cash PER6x
10/22/10 DMG & Partners Fuxing 0.16 0.255 Buy
11/10/10 DMG & Partners Fuxing 0.165 0.255 Buy
11/11/10 DMG & Partners Fuxing 0.165 0.255 Buy

12/27/10 NRA Fuxing 0.17 0.28 Buy PER11x

Frasers Commercial Trust - Mixed calls by analysts.

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

07/30/10 DBS Vickers Frasers Commercial Trust 0.15 0.16 Hold
10/25/10 DBS Vickers Frasers Commercial Trust 0.165 0.19 Hold DCF

11/18/10 OCBC Frasers Commercial Trust 0.16 0.17 Buy RNAV (40% discount)
12/10/10 OCBC Frasers Commercial Trust 0.165 0.18 Buy RNAV

07/30/10 phillip Frasers Commercial Trust 0.15 0.17 Hold
10/25/10 phillip Frasers Commercial Trust 0.165 0.18 Hold DDM

Frasers Centrepoint Trust - Downgraded by some analysts.

07/26/10 CIMB Frasers Centrepoint Trust 1.39 1.84 Outperform DDM
11/18/10 CIMB Frasers Centrepoint Trust 1.46 1.86 Outperform DDM
01/05/11 CIMB Frasers Centrepoint Trust 1.5 1.86 Outperform DDM

07/26/10 DBS Vickers Frasers Centrepoint Trust 1.39 1.66 Buy
08/23/10 DBS Vickers Frasers Centrepoint Trust 1.41 1.66 Buy
08/31/10 DBS Vickers Frasers Centrepoint Trust 1.38 1.66 Buy
10/27/10 DBS Vickers Frasers Centrepoint Trust 1.5 1.74 Buy
12/13/10 DBS Vickers Frasers Centrepoint Trust 1.44 1.74 Buy
12/17/10 DBS Vickers Frasers Centrepoint Trust 1.45 1.74 Buy

07/22/10 DMG & Partners Frasers Centrepoint Trust 1.39 1.66 Buy
07/26/10 DMG & Partners Frasers Centrepoint Trust 1.39 1.66 Buy DDM
10/27/10 DMG & Partners Frasers Centrepoint Trust 1.5 1.66 Buy DDM
01/10/11 DMG & Partners Frasers Centrepoint Trust 1.53 1.66 Buy

09/02/10 OCBC Frasers Centrepoint Trust 1.39 1.49 Buy
09/29/10 OCBC Frasers Centrepoint Trust 1.52 1.49 Hold
09/30/10 OCBC Frasers Centrepoint Trust 1.5 1.49 Hold
10/08/10 OCBC Frasers Centrepoint Trust 1.5 1.49 Hold
11/09/10 OCBC Frasers Centrepoint Trust 1.49 1.55 Hold
12/06/10 OCBC Frasers Centrepoint Trust 1.44 1.74 Buy
12/10/10 OCBC Frasers Centrepoint Trust 1.45 1.5 Hold
01/11/11 OCBC Frasers Centrepoint Trust 1.51 1.58 Hold

Foreland Fabritech - CIMB loves this stock!

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

11/29/10 CIMB Foreland Fabritech 0.09 0.16 Outperform

FJ Benjamin - Kim Eng loves fashion!

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

08/24/10 DMG & Partners FJ Benjamin 0.365 0.52 Buy DCF
11/15/10 DMG & Partners FJ Benjamin 0.41 0.52 Buy Under Review

08/24/10 Kim Eng FJ Benjamin 0.34 0.6 Buy DCF
11/15/10 Kim Eng FJ Benjamin 0.41 0.6 Buy DCF

First Ship Lease Trust - Hold calls as not much upside left.

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

06/10/10 DBS Vickers First Ship Lease Trust 0.395 0.36 Fully Valued
07/27/10 DBS Vickers First Ship Lease Trust 0.42 0.4 Fully Valued
10/26/10 DBS Vickers First Ship Lease Trust 0.47 0.45 Fully Valued Target yield 12%

05/19/10 OCBC First Ship Lease Trust 0.48 0.48 Hold FCFE Model (25% discount)

First Resources - Mixed calls by analysts.

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

01/18/10 DBS Vickers First Resources 1.24 1.16 Hold DCF
03/02/10 DBS Vickers First Resources 1.04 1.29 Buy
05/12/10 DBS Vickers First Resources 1.06 1.36 Buy
08/03/10 DBS Vickers First Resources 1.14 1.35 Buy DCF
11/22/10 DBS Vickers First Resources 1.39 1.55 Buy

01/13/10 DMG & Partners First Resources 1.23 1.4 Buy PER15x
03/03/10 DMG & Partners First Resources 1.03 1.4 Buy PER15x
04/09/10 DMG & Partners First Resources 1.17 1.5 Buy PER15x
05/12/10 DMG & Partners First Resources 1.07 1.4 Buy PER15x
05/14/10 DMG & Partners First Resources 1.1 1.4 Buy PER15x
06/15/10 DMG & Partners First Resources 1.07 1.4 Buy PER15x
08/17/10 DMG & Partners First Resources 1.13 1.54 Buy
08/17/10 DMG & Partners First Resources 1.13 1.54 Buy PER15x
11/16/10 DMG & Partners First Resources 1.4 1.87 Buy PER18x
12/09/10 DMG & Partners First Resources 1.54 2.05 Buy
12/13/10 DMG & Partners First Resources 1.53 2.05 Buy
12/23/10 DMG & Partners First Resources 1.48 2.05 Buy PER17.1x
01/05/11 DMG & Partners First Resources 1.41 2.05 Buy

09/28/10 phillip First Resources 1.14 1.33 Buy DCF
11/15/10 phillip First Resources 1.4 1.54 Hold DCF

09/06/10 UOB Kay Hian First Resources 1.13 1.13 Hold Buy @ $1

Wilmar is wrong to dabble in china property market.

For one to be successful in any business, one has to focus on its core competencies.  Wilmar is doing its investors a disservice by going into the property business in China even though it has partnered with local developers.

I would label Wilmar's latest move as wrong move at the wrong time when China is trying to cool down its property market.  Wilmar should not try to outbid other developers when China tries to curb the property market.

I hope Wilmar won't pay a painful lesson in China.

First Reit - OCBC likes this reit.

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

01/07/11 OCBC First Reit 0.74 0.84 Buy RNAV

Falcon Energy - Buy calls from analysts.

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

11/09/10 DnB Nor Falcon Energy 0.5 0.7 Buy NAV 0.68, PER8.6x, EV/Ebitda9.3x

04/12/10 Kim Eng Falcon Energy 0.705 0.99 Buy PER11x, PEG0.4x
05/13/10 Kim Eng Falcon Energy 0.635 0.99 Buy PER11x
08/16/10 Kim Eng Falcon Energy 0.555 0.85 Buy PER10x
11/24/10 Kim Eng Falcon Energy 0.42 0.6 Buy PER10x

F&N - Downgraded by some anlaysts.

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

01/08/10 CIMB F & N 4.37 5.01 Outperform RNAV
03/05/10 CIMB F & N 4.35 5.31 Outperform RNAV
04/16/10 CIMB F & N 4.96 5.31 Outperform
04/19/10 CIMB F & N 4.89 5.31 Outperform
05/10/10 CIMB F & N 4.65 5.31 Outperform
05/17/10 CIMB F & N 4.7 5.9 Outperform Sum of parts
05/18/10 CIMB F & N 4.7 5.9 Outperform
06/14/10 CIMB F & N 4.91 5.9 Outperform
06/23/10 CIMB F & N 5.14 6.15 Outperform Sum of parts, PB1.1x
06/28/10 CIMB F & N 5.2 6.22 Outperform Sum of parts
07/19/10 CIMB F & N 5.47 6.34 Outperform Sum of parts
07/27/10 CIMB F & N 5.67 6.41 Outperform Sum of parts
08/16/10 CIMB F & N 5.7 6.41 Outperform Sum of parts
11/04/10 CIMB F & N 6.69 6.91 Neutral Sum of parts
11/15/10 CIMB F & N 6.58 6.91 Neutral Sum of parts

11/16/10 CLSA F & N 6.51 6.95 Outperform

03/29/10 DBS Vickers F & N 4.66 5.48 Buy RNAV (10% discount)
04/08/10 DBS Vickers F & N 4.97 5.48 Buy
05/17/10 DBS Vickers F & N 4.7 5.49 Buy RNAV (10% discount)
07/19/10 DBS Vickers F & N 5.47 5.9 Buy RNAV (10% discount)
07/27/10 DBS Vickers F & N 5.67 6.6 Buy Sum of parts
08/20/10 DBS Vickers F & N 5.54 6.4 Buy
11/15/10 DBS Vickers F & N 6.58 6.9 Hold RNAV (5% discount)

07/27/10 Deutsche F & N 5.67 6.3 Buy

03/31/10 DMG & Partners F & N 4.72 5.3 Buy Sum of parts
04/06/10 DMG & Partners F & N 5.05 5.3 Buy Sum of parts
04/16/10 DMG & Partners F & N 4.96 5.3 Buy
05/14/10 DMG & Partners F & N 4.7 5.3 Buy Sum of parts
07/27/10 DMG & Partners F & N 5.67 5.3 Neutral RNAV
08/05/10 DMG & Partners F & N 5.66 6 Neutral PER22x
08/16/10 DMG & Partners F & N 5.7 6 Neutral Sum of parts
08/27/10 DMG & Partners F & N 5.55 6 Neutral Sum of parts
10/01/10 DMG & Partners F & N 6.5 6.02 Neutral Sum of parts
11/15/10 DMG & Partners F & N 6.58 6.33 Neutral RNAV

02/12/10 Kim Eng F & N 3.92 4.28 Hold RNAV
05/17/10 Kim Eng F & N 4.7 4.71 Neutral RNAV
08/16/10 Kim Eng F & N 5.7 6.5 Buy
10/08/10 Kim Eng F & N 6.34 6.72 Hold Sum of parts
10/28/10 Kim Eng F & N 6.18 6.72 Hold RNAV (5% discount)
11/15/10 Kim Eng F & N 6.58 7.06 Hold Sum of parts
12/02/10 Kim Eng F & N 6.21 7.08 Buy Sum of parts (5% discount)
12/08/10 Kim Eng F & N 6.21 8.98 Buy Sum of parts

07/27/10 Lim & Tan F & N 5.67 0 Buy
09/17/10 Lim & Tan F & N 6.14 0 Buy

Ezra - DnB Nor hated this stock!

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

10/26/10 BofA Ezra 1.78 0 Underperform

10/25/10 CIMB Ezra 1.82 3 Outperform Sum of parts
01/13/11 CIMB Ezra 1.81 3 Outperform Sum of parts

10/26/10 DMG & Partners Ezra 1.82 2.4 Buy PER15x
11/23/10 DMG & Partners Ezra 1.74 2.4 Buy
12/15/10 DMG & Partners Ezra 1.67 2.4 Buy PER15x
01/04/11 DMG & Partners Ezra 1.85 2.4 Buy
01/13/11 DMG & Partners Ezra 1.81 2.4 Buy PER15x

11/09/10 DnB Nor Ezra 1.77 1.45 Sell NAV 1.42, PER17.8x, EV/Ebitda17.2x

09/27/10 OCBC Ezra 1.76 2.52 Buy
10/04/10 OCBC Ezra 1.8 2.52 Buy
10/25/10 OCBC Ezra 1.82 2.27 Buy
11/22/10 OCBC Ezra 1.72 2.27 Buy
12/02/10 OCBC Ezra 1.66 2.27 Buy
01/13/11 OCBC Ezra 1.81 2.2 Buy

Ezion - Every analyst likes this stock!

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

01/18/10 CIMB Ezion 0.83 1 Outperform PER10x
03/02/10 CIMB Ezion 0.75 0.93 Outperform PER10x
04/28/10 CIMB Ezion 0.74 0.98 Outperform PER12x
05/14/10 CIMB Ezion 0.71 0.98 Outperform
05/18/10 CIMB Ezion 0.71 0.98 Outperform
05/31/10 CIMB Ezion 0.61 0.98 Outperform
06/08/10 CIMB Ezion 0.6 0.98 Outperform
07/21/10 CIMB Ezion 0.71 0.99 Outperform PER12x
07/27/10 CIMB Ezion 0.71 0.97 Outperform PER12x
08/06/10 CIMB Ezion 0.68 0.97 Outperform
08/19/10 CIMB Ezion 0.64 0.98 Outperform
11/12/10 CIMB Ezion 0.735 0.98 Outperform PER12x

02/25/10 DBS Vickers Ezion 0.74 0.92 Buy PER12x
05/14/10 DBS Vickers Ezion 0.71 0.87 Buy PER12x
07/14/10 DBS Vickers Ezion 0.665 0.88 Buy PER12x
07/27/10 DBS Vickers Ezion 0.705 0.86 Buy PER12x
08/13/10 DBS Vickers Ezion 0.64 0.86 Buy PER12x
09/01/10 DBS Vickers Ezion 0.61 0.82 Buy PER12x
09/27/10 DBS Vickers Ezion 0.685 0.82 Buy
01/03/11 DBS Vickers Ezion 0.69 1 Buy

06/16/10 DMG & Partners Ezion 0.635 0.87 Buy PER14x
06/17/10 DMG & Partners Ezion 0.66 0.87 Buy
07/15/10 DMG & Partners Ezion 0.665 0.87 Buy PER14x
07/20/10 DMG & Partners Ezion 0.69 0.87 Buy
07/21/10 DMG & Partners Ezion 0.69 0.87 Buy PER14x
07/27/10 DMG & Partners Ezion 0.705 0.85 Buy PER14x
08/13/10 DMG & Partners Ezion 0.64 0.89 Buy PER14x
10/14/10 DMG & Partners Ezion 0.72 0.89 Buy PER14x
11/12/10 DMG & Partners Ezion 0.735 1 Buy PER12x

09/02/10 Dnb Nor Ezion 0.61 0.9 Buy
11/09/10 DnB Nor Ezion 0.73 0.9 Buy NAV 0.8, DCF 0.92

02/25/10 Kim Eng Ezion 0.74 0.99 Buy PER15x
03/02/10 Kim Eng Ezion 0.75 0.99 Buy
04/06/10 Kim Eng Ezion 0.785 0.99 Buy
04/28/10 Kim Eng Ezion 0.74 0.99 Buy
05/14/10 Kim Eng Ezion 0.71 0.99 Buy PEG0.25x
07/14/10 Kim Eng Ezion 0.665 0.99 Buy PEG0.25x
07/27/10 Kim Eng Ezion 0.705 0.99 Buy PEG0.25x
08/13/10 Kim Eng Ezion 0.64 0.99 Buy PEG0.25x
10/14/10 Kim Eng Ezion 0.72 0.99 Buy
11/12/10 Kim Eng Ezion 0.735 0.99 Buy

06/30/10 OCBC Ezion 0.625 0.81 Buy PER12x
07/08/10 OCBC Ezion 0.63 0.81 Buy
07/14/10 OCBC Ezion 0.665 0.81 Buy
07/15/10 OCBC Ezion 0.7 0.81 Buy
09/02/10 OCBC Ezion 0.61 0.79 Buy
09/13/10 OCBC Ezion 0.655 0.79 Buy
09/27/10 OCBC Ezion 0.685 0.79 Buy
10/04/10 OCBC Ezion 0.69 0.79 Buy
10/15/10 OCBC Ezion 0.72 0.82 Buy PER12x
11/12/10 OCBC Ezion 0.735 0.82 Buy
12/02/10 OCBC Ezion 0.675 0.82 Buy

09/01/10 Pareto Ezion 0.61 0.85 Buy PER8.3x

Epicentre - New kid on the block!

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

01/06/11 DMG & Partners Epicentre 0.3 0.51 Buy PER8x

Baltic Dry Index (BDI) - Drops further to 1446.

Quote:

The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 0.48 per cent, or seven points, to 1,446 points and was at its lowest since Feb 4, 2009.

End Quote.

Elec & Eltek - Buy calls from all analysts.

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

02/26/10 CIMB Elec & Eltek 1.87 2.85 Outperform PER8x
03/11/10 CIMB Elec & Eltek 2.2 2.85 Outperform
04/29/10 CIMB Elec & Eltek 2.22 3.48 Outperform PER8x
05/03/10 CIMB Elec & Eltek 2.39 3.48 Outperform PER8x
05/18/10 CIMB Elec & Eltek 2.35 3.48 Outperform
07/23/10 CIMB Elec & Eltek 2.53 3.48 Outperform PER8x
07/29/10 CIMB Elec & Eltek 2.77 4.04 Outperform PER8x
08/03/10 CIMB Elec & Eltek 2.97 4.04 Outperform PER8x
09/16/10 CIMB Elec & Eltek 2.67 4.04 Outperform PER8x
11/03/10 CIMB Elec & Eltek 3 4.3 Outperform PER8x

02/26/10 Lim & Tan Elec & Eltek 1.87 0 Buy
04/29/10 Lim & Tan Elec & Eltek 2.22 0 Buy
07/29/10 Lim & Tan Elec & Eltek 2.77 0 Buy
11/03/10 Lim & Tan Elec & Eltek 3 0 Buy
11/04/10 Lim & Tan Elec & Eltek 3.03 0 Buy

Design Studio - More MICEs, more profits!

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

02/25/10 Kim Eng Design Studio 0.635 1 Buy PER7.5x
03/15/10 Kim Eng Design Studio 0.605 1 Buy PER7.5x
06/17/10 Kim Eng Design Studio 0.475 0.9 Buy PER7.5x
07/01/10 Kim Eng Design Studio 0.565 0.9 Buy PER7.5x

Delong - Sell call by Lim & Tan.

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

01/26/10 Lim & Tan Delong 0.655 0 Sell

Baltic Dry Index (BDI) - Drops to 1480 due to australia flood.

Quote:

The index, which gauges the cost of shipping commodities, fell one per cent, or 15 points, to 1,480 points and was at its lowest since April 9, 2009.

End Quote.

Debao Property - A good property developer in China?

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

07/02/10 UOB Kay Hian Debao Property 0.295 0.37 Buy RNAV (40% discount)

DBS - How is this bank doing?

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

02/05/10 CIMB DBS 14.2 16.28 Neutral PB1.4x
02/08/10 CIMB DBS 14.04 14.88 Underperform PB1.3x
04/30/10 CIMB DBS 15.3 14.88 Underperform
05/06/10 CIMB DBS 14.64 14.88 Underperform
05/18/10 CIMB DBS 14.36 14.88 Underperform
06/03/10 CIMB DBS 13.52 13.97 Underperform PB1.23x
07/30/10 CIMB DBS 14.5 13.97 Underperform PB1.23x
08/02/10 CIMB DBS 14.4 14.03 Underperform PB1.28x
08/05/10 CIMB DBS 14.5 14.03 Underperform PB1.28x
10/28/10 CIMB DBS 14.02 14.03 Underperform PB1.28x, Gordon Growth Model
11/04/10 CIMB DBS 14.1 17 Outperform PB1.45x & Gordon Growth Model
11/08/10 CIMB DBS 14.22 17 Outperform PB1.45x & Gordon Growth Model
11/16/10 CIMB DBS 14 17 Outperform
01/04/11 CIMB DBS 14.5 17 Outperform

01/27/10 DMG & Partners DBS 14.7 14 Neutral BV1.3x
02/05/10 DMG & Partners DBS 14.2 14 Neutral
03/31/10 DMG & Partners DBS 14.56 14 Neutral
04/30/10 DMG & Partners DBS 15.3 14 Neutral PB1.3x
05/07/10 DMG & Partners DBS 14.36 13.6 Neutral PB1.25x
05/10/10 DMG & Partners DBS 14.36 13.6 Neutral PB1.25x
06/01/10 DMG & Partners DBS 13.78 13.6 Neutral
07/15/10 DMG & Partners DBS 14.78 13.6 Neutral
07/30/10 DMG & Partners DBS 14.5 13.6 Neutral
08/02/10 DMG & Partners DBS 14.4 13.4 Neutral PB1.25x
08/05/10 DMG & Partners DBS 14.4 13.4 Neutral PB1.25x
10/15/10 DMG & Partners DBS 14.6 13.4 Neutral
11/08/10 DMG & Partners DBS 14.22 14.3 Neutral PB1.22x
11/19/10 DMG & Partners DBS 13.94 14.3 Neutral

02/08/10 Kim Eng DBS 14.04 17.4 Buy PB1.5x
03/08/10 Kim Eng DBS 14.06 17.4 Buy PB1.5x
05/10/10 Kim Eng DBS 14.36 17.8 Buy PB1.58x
08/02/10 Kim Eng DBS 14.4 17.4 Buy PB1.58x
11/08/10 Kim Eng DBS 14.22 13.4 Hold PB1.35x
11/22/10 Kim Eng DBS 13.9 13.3 Hold PB1.1x

06/07/10 Lim & Tan DBS 13.78 0 Buy
07/30/10 Lim & Tan DBS 14.5 0 Buy
10/04/10 Lim & Tan DBS 14.22 0 Buy
11/04/10 Lim & Tan DBS 14.1 0 Buy Div Yield 4%

02/02/10 OCBC DBS 14.16 16.6 Buy PB1.5x
02/08/10 OCBC DBS 14.04 16.6 Buy
05/10/10 OCBC DBS 14.36 16.6 Buy
09/02/10 OCBC DBS 13.88 16 Buy
11/08/10 OCBC DBS 14.22 16 Buy

01/19/10 phillip DBS 15.14 14.55 Hold NAV1.31x
02/08/10 phillip DBS 14.04 14.55 Hold NAV1.32x, Gordon Growth Model
05/03/10 phillip DBS 15.3 14.55 Hold Gordon Growth Model
05/10/10 phillip DBS 14.36 14.55 Hold Gordon Growth Model
08/02/10 phillip DBS 14.4 14.55 Hold
11/08/10 phillip DBS 14.22 14.55 Hold

Datapulse - Neutral call by Lim & Tan.

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

03/03/10 Lim & Tan Datapulse 0.235 0 Sell
09/13/10 Lim & Tan Datapulse 0.215 0 Neutral

Dapai - No more coverage for this company.

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

08/13/10 CIMB Dapai 0.23 0.36 Outperform PER5x, Cease coverage

Dairy Farm - Do you like to frequent 7-11 shop?

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

03/29/10 Citigroup Dairy Farm 6.53 6.7 Hold

CWT - A good logistics company!

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

04/13/10 CIMB CWT 1.09 1 Underperform PER14x
05/07/10 CIMB CWT 0.9 1.03 Neutral PER14x
05/18/10 CIMB CWT 0.96 1.03 Neutral
06/11/10 CIMB CWT 0.88 1.03 Outperform PER14x
08/06/10 CIMB CWT 1.01 1.03 Neutral PER14x
10/20/10 CIMB CWT 0.96 1.12 Outperform PER14x
11/09/10 CIMB CWT 0.965 1.12 Outperform PER14x
11/26/10 CIMB CWT 0.915 1.72 Outperform PER19x

01/28/10 DMG & Partners CWT 0.875 1.19 Buy PER16.6x
03/19/10 DMG & Partners CWT 1.04 1.19 Buy
05/10/10 DMG & Partners CWT 0.87 1.1 Buy PER18.1x
07/20/10 DMG & Partners CWT 0.91 1.1 Buy PER18x
08/06/10 DMG & Partners CWT 1.01 1.16 Buy PER16.6x
09/28/10 DMG & Partners CWT 0.98 1.1 Buy
11/10/10 DMG & Partners CWT 0.965 1.16 Buy PER16.6x
11/25/10 DMG & Partners CWT 0.91 1.16 Buy

01/26/10 Kim Eng CWT 0.895 1.08 Buy PER15x
02/02/10 Kim Eng CWT 0.93 1.23 Buy
02/26/10 Kim Eng CWT 0.9 1.32 Buy PER18x
03/25/10 Kim Eng CWT 1.07 1.3 Buy
05/07/10 Kim Eng CWT 0.895 1.25 Buy PER18x
08/06/10 Kim Eng CWT 1.01 1.4 Buy Sum of parts
09/06/10 Kim Eng CWT 0.91 1.34 Buy
11/09/10 Kim Eng CWT 0.965 1.33 Buy Sum of parts

CSE Global - Buy calls from all analysts.

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

02/26/10 CIMB CSE Global 0.88 1.37 Outperform PER11x
03/25/10 CIMB CSE Global 0.97 1.42 Outperform PER11x
04/05/10 CIMB CSE Global 1.02 1.42 Outperform PER11x
04/08/10 CIMB CSE Global 1.16 1.55 Outperform PER12x
04/15/10 CIMB CSE Global 1.19 1.55 Outperform PER12x
05/10/10 CIMB CSE Global 0.95 1.55 Outperform PER12x
05/14/10 CIMB CSE Global 1.01 1.55 Outperform
05/18/10 CIMB CSE Global 0.98 1.55 Outperform
05/31/10 CIMB CSE Global 0.865 1.55 Outperform PER12x
08/12/10 CIMB CSE Global 0.94 1.55 Outperform PER12x
11/12/10 CIMB CSE Global 1.16 1.71 Outperform PER12x
12/02/10 CIMB CSE Global 1.13 1.71 Outperform PER12x
12/29/10 CIMB CSE Global 1.26 1.61 Outperform PER10x

01/04/10 DBS Vickers CSE Global 0.85 1.18 Buy
02/26/10 DBS Vickers CSE Global 0.88 1.18 Buy PER12.5x
03/25/10 DBS Vickers CSE Global 0.97 1.25 Buy PER11x
05/11/10 DBS Vickers CSE Global 0.98 1.27 Buy PER12x
08/12/10 DBS Vickers CSE Global 0.935 1.27 Buy PER12x
09/27/10 DBS Vickers CSE Global 1.07 1.25 Buy
11/01/10 DBS Vickers CSE Global 1.06 1.25 Buy
12/13/10 DBS Vickers CSE Global 1.15 1.45 Buy
12/29/10 DBS Vickers CSE Global 1.25 1.45 Buy
01/04/11 DBS Vickers CSE Global 1.29 1.57 Buy PER12x

12/06/10 OCBC CSE Global 1.15 1.45 Buy

CSC - Target price is downgraded by DMG despite a buy call.

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

02/09/10 DMG & Partners CSC 0.16 0.29 Buy PER12x
04/07/10 DMG & Partners CSC 0.165 0.29 Buy
04/19/10 DMG & Partners CSC 0.175 0.29 Buy PER12x
05/24/10 DMG & Partners CSC 0.155 0.265 Buy PER12x
06/17/10 DMG & Partners CSC 0.16 0.265 Buy
07/01/10 DMG & Partners CSC 0.155 0.265 Buy
08/12/10 DMG & Partners CSC 0.16 0.265 Buy PER12x
09/29/10 DMG & Partners CSC 0.16 0.265 Buy
11/09/10 DMG & Partners CSC 0.17 0.235 Buy PER12x
11/23/10 DMG & Partners CSC 0.17 0.235 Buy

Baltic Dry Index (BDI) - 1519

Quote:

The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 1.62 per cent, or 25 points, to 1,519 points last Friday and was at its lowest since April 14,2009.

End Quote.

Creative Tech - Not creative anymore.

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

02/04/10 DBS Vickers Creative Tech 5.93 5.46 Hold PB1x
08/10/10 DBS Vickers Creative Tech 4.01 3.51 Fully Valued PB0.8x

05/06/10 Lim & Tan Creative Tech 5.03 0 Sell
12/06/10 Lim & Tan Creative Tech 4.06 0 Sell
12/15/10 Lim & Tan Creative Tech 4.03 0 Sell

Cosco - Mixed calls by analysts.

06/03/10 CIMB Cosco 1.33 1.41 Underperform Sum of parts
06/16/10 CIMB Cosco 1.45 1.24 Underperform Sum of parts
07/23/10 CIMB Cosco 1.61 1.24 Underperform Sum of parts
08/03/10 CIMB Cosco 1.68 1.41 Underperform
10/07/10 CIMB Cosco 1.87 2.01 Neutral PER15x
11/04/10 CIMB Cosco 1.94 2.2 Outperform PER15x
12/02/10 CIMB Cosco 2.06 2.63 Outperform PER18x

09/22/10 Citigroup Cosco 1.73 2.3 Buy

06/16/10 DBS Vickers Cosco 1.45 1.8 Buy Sum of parts
06/18/10 DBS Vickers Cosco 1.5 1.8 Buy Sum of parts
07/23/10 DBS Vickers Cosco 1.61 1.8 Buy Sum of parts
08/02/10 DBS Vickers Cosco 1.64 1.8 Buy
08/03/10 DBS Vickers Cosco 1.68 1.88 Buy Sum of parts
09/27/10 DBS Vickers Cosco 1.86 2.35 Buy
11/04/10 DBS Vickers Cosco 1.94 2.35 Buy Sum of parts & PB
11/22/10 DBS Vickers Cosco 2.08 2.35 Buy
12/02/10 DBS Vickers Cosco 2.06 2.35 Buy
12/13/10 DBS Vickers Cosco 2.11 2.35 Buy
12/16/10 DBS Vickers Cosco 2.14 2.76 Buy PER14x
01/03/11 DBS Vickers Cosco 2.11 2.76 Buy Sum of parts & PB4.19x
01/04/11 DBS Vickers Cosco 2.24 2.76 Buy

10/06/10 Deutsche Cosco 1.85 2.25 Buy

11/02/10 DMG & Partners Cosco 1.88 2.15 Neutral

06/16/10 Kim Eng Cosco 1.45 1.44 Hold PB3x
07/06/10 Kim Eng Cosco 1.45 1.44 Hold BV3x
07/23/10 Kim Eng Cosco 1.61 2.1 Buy BV4.2x
08/03/10 Kim Eng Cosco 1.68 2.1 Buy PB4.2x
08/05/10 Kim Eng Cosco 1.63 2.1 Buy
09/27/10 Kim Eng Cosco 1.86 2.1 Buy PB4.2x
11/02/10 Kim Eng Cosco 1.88 2.1 Buy
11/04/10 Kim Eng Cosco 1.94 2.43 Buy
11/04/10 Kim Eng Cosco 1.86 2.43 Buy PB4.8x

12/06/10 OCBC Cosco 2.11 2.35 Buy

07/01/10 phillip Cosco 1.49 1.65 Hold BV3.2x
08/03/10 phillip Cosco 1.68 1.65 Hold
09/24/10 phillip Cosco 1.85 1.65 Hold PB1.32x
11/04/10 phillip Cosco 1.94 2.32 Buy PB3.8x
12/15/10 phillip Cosco 2.14 2.32 Neutral