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

Contel - Will the reserve takeover save this company?

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

06/17/10 Lim & Tan Contel 0.01 0 Sell Insolvent

Lim & Tan deemed this company to be insolvent after looking through its financial statement in June but this company maybe magically revived by the reverse takeover if this really materializes.

ConscienceFood - Buy call from DBS Vickers.

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

12/09/10 DBS Vickers ConscienceFood 0.225 0.38 Buy PER7x

Comfortdelgro - Buy calls from all analysts.

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

05/18/10 AmFraser Comfortdelgro 1.5 1.89 Buy
08/16/10 AmFraser Comfortdelgro 1.57 1.89 Buy

05/18/10 CIMB Comfortdelgro 1.49 1.73 Underperform
08/16/10 CIMB Comfortdelgro 1.55 1.83 Outperform DCF
10/01/10 CIMB Comfortdelgro 1.52 1.9 Outperform DCF
11/15/10 CIMB Comfortdelgro 1.46 1.9 Outperform DCF

08/17/10 DBS Vickers Comfortdelgro 1.55 1.65 Hold
11/15/10 DBS Vickers Comfortdelgro 1.46 1.79 Buy DCF & PER15x

06/01/10 DMG & Partners Comfortdelgro 1.45 1.78 Buy
06/21/10 DMG & Partners Comfortdelgro 1.45 1.78 Buy
08/02/10 DMG & Partners Comfortdelgro 1.6 1.78 Buy
08/16/10 DMG & Partners Comfortdelgro 1.55 1.78 Buy DCF
08/17/10 DMG & Partners Comfortdelgro 1.55 1.78 Buy
09/03/10 DMG & Partners Comfortdelgro 1.53 1.78 Buy
10/21/10 DMG & Partners Comfortdelgro 1.49 1.74 Buy
10/22/10 DMG & Partners Comfortdelgro 1.5 1.74 Buy
11/15/10 DMG & Partners Comfortdelgro 1.46 1.85 Buy DCF
01/05/11 DMG & Partners Comfortdelgro 1.54 1.85 Buy

07/19/10 Kim Eng Comfortdelgro 1.51 1.87 Buy PER17x
08/16/10 Kim Eng Comfortdelgro 1.55 1.87 Buy PER17x
11/15/10 Kim Eng Comfortdelgro 1.46 1.87 Buy PER17x
12/17/10 Kim Eng Comfortdelgro 1.55 2.08 Buy PER17x

12/10/10 Macquarie Comfortdelgro 1.54 2 Outperform

06/04/10 phillip Comfortdelgro 1.41 1.73 Buy
08/12/10 phillip Comfortdelgro 1.58 1.73 Hold
08/16/10 phillip Comfortdelgro 1.55 1.75 Buy
11/15/10 phillip Comfortdelgro 1.46 1.75 Buy

Combine Will - Buy call from Phillip.

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

11/15/10 phillip Combine Will 0.32 0.4 Buy

CitySpring - No prospect!

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

02/17/10 DBS Vickers CitySpring 0.62 0.62 Hold DDM
05/25/10 DBS Vickers CitySpring 0.595 0.67 Buy DDM

02/17/10 Kim Eng CitySpring 0.615 0.69 Buy
11/15/10 Kim Eng CitySpring 0.605 0.62 Hold
11/30/10 Kim Eng CitySpring 0.595 0.52 Sell FCFE Model

01/05/10 OCBC CitySpring 0.595 0.68 Buy DDM
02/12/10 OCBC CitySpring 0.61 0.68 Buy DDM
05/25/10 OCBC CitySpring 0.595 0.6 Hold DDM
06/24/10 OCBC CitySpring 0.595 0.6 Hold DDM
10/05/10 OCBC CitySpring 0.6 0 Cease Coverage No Prospect

City Developments - Mixed calls by analysts.

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

08/13/10 AmFraser City Developments 12 13.82 Buy RNAV
08/30/10 AmFraser City Developments 11.96 13.82 Buy

05/18/10 CIMB City Developments 10.48 12.09 neutral
05/20/10 CIMB City Developments 10.4 11.46 Neutral RNAV
06/14/10 CIMB City Developments 10.82 11.46 Neutral
06/15/10 CIMB City Developments 10.9 11.46 Neutral
10/18/10 CIMB City Developments 13.56 11.27 Underperform RNAV (10% discount)
11/11/10 CIMB City Developments 13.48 12.89 Underperform RNAV

07/20/10 Credit Suisse City Developments 11.4 13.18 Outperform
12/16/10 Credit Suisse City Developments 13 17.16 Outperform

06/16/10 DBS Vickers City Developments 10.9 12.04 Hold
07/16/10 DBS Vickers City Developments 11.34 12.04 Buy
08/13/10 DBS Vickers City Developments 12 12.52 Hold RNAV (15% premium)
12/20/10 DBS Vickers City Developments 12.92 13.26 Fully Valued

06/01/10 DMG & Partners City Developments 10.28 12.48 Buy
08/12/10 DMG & Partners City Developments 11.92 10.6 Neutral RNAV
08/13/10 DMG & Partners City Developments 11.92 10.6 Neutral RNAV
11/11/10 DMG & Partners City Developments 13.48 11.07 Neutral RNAV
12/03/10 DMG & Partners City Developments 12.32 11.07 Neutral RNAV
12/20/10 DMG & Partners City Developments 12.92 11.07 Neutral

06/23/10 Kim Eng City Developments 10.9 13.2 Buy RNAV (15% premium)
08/13/10 Kim Eng City Developments 12 13.8 Buy RNAV (15% premium)
09/15/10 Kim Eng City Developments 11.62 13.4 Buy RNAV (10% premium)
10/06/10 Kim Eng City Developments 12.3 13.95 Buy RNAV (10% premium)
11/12/10 Kim Eng City Developments 13.5 14.2 Hold

07/14/10 Lim & Tan City Developments 10.88 0 Buy
08/12/10 Lim & Tan City Developments 11.92 0 Buy
10/01/10 Lim & Tan City Developments 12.76 0 Buy
11/11/10 Lim & Tan City Developments 13.48 0 Buy

06/03/10 OCBC City Developments 10.24 11.11 Hold RNAV
06/07/10 OCBC City Developments 10.64 11.11 Hold RNAV
06/16/10 OCBC City Developments 10.9 11.11 Hold
07/05/10 OCBC City Developments 11.02 11.11 Hold
07/15/10 OCBC City Developments 11.04 11.16 Hold RNAV
07/16/10 OCBC City Developments 11.34 11.16 Hold
08/12/10 OCBC City Developments 11.92 11.16 Hold, Under Review RNAV
11/02/10 OCBC City Developments 12.86 11.16 Hold Under Review
11/11/10 OCBC City Developments 13.48 12.35 Hold RNAV
11/16/10 OCBC City Developments 13.04 13.26 Fully Valued

09/14/10 UBS City Developments 11.76 10.96 Sell

China Zaino - Outperform call by CIMB.

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

02/25/10 CIMB China Zaino 0.24 0.34 Outperform PER4x
04/26/10 CIMB China Zaino 0.29 0.36 Outperform PER5x
04/29/10 CIMB China Zaino 0.27 0.36 Outperform PER5x

China XLX Fertiliser - Buy calls from analysts.

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

01/08/10 CIMB China XLX Fertiliser 0.67 0.72 Neutral PER12x
02/24/10 CIMB China XLX Fertiliser 0.52 0.72 Outperform PER12x
03/18/10 CIMB China XLX Fertiliser 0.58 0.72 Outperform PER7x
03/29/10 CIMB China XLX Fertiliser 0.575 0.72 Outperform
04/28/10 CIMB China XLX Fertiliser 0.58 0.72 Outperform PER7x
04/30/10 CIMB China XLX Fertiliser 0.6 0.72 Outperform
05/21/10 CIMB China XLX Fertiliser 0.52 0.72 Outperform PER7x
06/10/10 CIMB China XLX Fertiliser 0.495 0.72 Outperform PER7x
07/29/10 CIMB China XLX Fertiliser 0.53 0.72 Outperform PER7x
09/14/10 CIMB China XLX Fertiliser 0.555 0.72 Outperform PER7x
09/27/10 CIMB China XLX Fertiliser 0.58 0.72 Outperform PER7x
10/27/10 CIMB China XLX Fertiliser 0.59 0.71 Outperform PER7x
10/28/10 CIMB China XLX Fertiliser 0.58 0.71 Outperform PER7x
12/01/10 CIMB China XLX Fertiliser 0.59 0.71 Outperform PER7x

01/04/10 DBS Vickers China XLX Fertiliser 0.68 0.35 Fully Valued
01/08/10 DBS Vickers China XLX Fertiliser 0.67 0.35 Fully Valued
02/24/10 DBS Vickers China XLX Fertiliser 0.52 0.54 Hold PER12x
07/30/10 DBS Vickers China XLX Fertiliser 0.53 0.68 Buy PER14x
09/14/10 DBS Vickers China XLX Fertiliser 0.555 0.66 Buy PER14x
09/27/10 DBS Vickers China XLX Fertiliser 0.58 0.66 Buy
10/28/10 DBS Vickers China XLX Fertiliser 0.58 0.66 Buy PER14x
11/25/10 DBS Vickers China XLX Fertiliser 0.59 0.66 Buy

China Sunsine - Buy calls from analysts.

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

05/03/10 AmFraser China Sunsine 0.245 0.405 Buy
08/02/10 AmFraser China Sunsine 0.255 0.46 Buy

01/07/10 phillip China Sunsine 0.235 0.34 Buy PER7.5x
03/01/10 phillip China Sunsine 0.235 0.34 Buy PER7.5x
04/30/10 phillip China Sunsine 0.25 0.34 Buy PER7.5x
08/04/10 phillip China Sunsine 0.245 0.35 Buy PER7.5x
09/29/10 phillip China Sunsine 0.245 0.35 Buy
11/02/10 phillip China Sunsine 0.275 0.36 Buy PER7.5x
12/15/10 phillip China Sunsine 0.275 0.36 Buy

China Sports - Avoid call by Lim & Tan.

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

01/08/10 DBS Vickers China Sports 0.175 0.26 Buy PER8x
01/25/10 DBS Vickers China Sports 0.21 0.3 Buy PER8x
03/01/10 DBS Vickers China Sports 0.16 0.18 Hold PER6x
05/21/10 DBS Vickers China Sports 0.12 0.11 Fully Valued PER5x

11/24/10 Lim & Tan China Sports 0.11 0 Avoid

China Sky - Falling from the sky!

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

01/08/10 DBS Vickers China Sky 0.2 0.14 Fully Valued
03/02/10 DBS Vickers China Sky 0.19 0.14 Fully Valued PB0.2x, PER6.6x
05/17/10 DBS Vickers China Sky 0.18 0.14 Fully Valued PER6.6x, PB0.2x

China Minzhong - Buy calls from analysts.

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

11/15/10 CIMB China Minzhong 1.24 1.65 Outperform PER6.3x

09/07/10 DBS Vickers China Minzhong 1.37 1.58 Buy DCF
09/27/10 DBS Vickers China Minzhong 1.39 1.58 Buy
11/19/10 DBS Vickers China Minzhong 1.25 1.6 Buy PER10.3x

07/13/10 DMG & Partners China Minzhong 1.2 1.68 Buy PER9x
07/14/10 DMG & Partners China Minzhong 1.2 1.68 Buy
08/23/10 DMG & Partners China Minzhong 1.3 1.68 Buy
08/25/10 DMG & Partners China Minzhong 1.27 1.68 Buy Under Review
09/01/10 DMG & Partners China Minzhong 1.28 1.78 Buy PER9x
09/13/10 DMG & Partners China Minzhong 1.38 1.78 Buy
10/22/10 DMG & Partners China Minzhong 1.37 1.78 Buy
11/16/10 DMG & Partners China Minzhong 1.24 1.78 Buy

09/08/10 Lim & Tan China Minzhong 1.38 0 Buy
10/04/10 Lim & Tan China Minzhong 1.37 0 Buy
11/12/10 Lim & Tan China Minzhong 1.25 0 Buy Near IPO price of $1.20
11/15/10 Lim & Tan China Minzhong 1.24 0 Buy PER7x

11/24/10 Macquarie China Minzhong 1.27 1.8 Buy

China Merchant - Buy call from DBS Vickers.

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

01/08/10 DBS Vickers China Merchant 0.61 0.81 Buy
02/26/10 DBS Vickers China Merchant 0.64 0.81 Buy

China Hongxing - Lim & Tan is very concerned about this stock.

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

01/08/10 DBS Vickers China Hongxing 0.2 0.22 Hold
03/02/10 DBS Vickers China Hongxing 0.175 0.13 Fully Valued PER15x

04/16/10 DMG & Partners China Hongxing 0.155 0.22 Buy PB0.7x
04/19/10 DMG & Partners China Hongxing 0.155 0.22 Buy PB0.7x
07/29/10 DMG & Partners China Hongxing 0.155 0.22 Buy
08/12/10 DMG & Partners China Hongxing 0.155 0.22 Buy
09/09/10 DMG & Partners China Hongxing 0.2 0.22 Buy
10/15/10 DMG & Partners China Hongxing 0.19 0.22 Buy

02/05/10 Lim & Tan China Hongxing 0.175 0 Buy
02/18/10 Lim & Tan China Hongxing 0.175 0 Buy
03/02/10 Lim & Tan China Hongxing 0.175 0 Sell
03/18/10 Lim & Tan China Hongxing 0.15 0 Sell
05/13/10 Lim & Tan China Hongxing 0.135 0 Sell
05/27/10 Lim & Tan China Hongxing 0.12 0 Sell
08/11/10 Lim & Tan China Hongxing 0.155 0 Sell
09/09/10 Lim & Tan China Hongxing 0.2 0 Sell Receivables & Prepayments Risks

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 chart dated 01/01/11 above indicated declining trading volumes due to end of the year festivals and there were not much window dressings done by the funds as DJIA was only moving sideways.

The chart dated 01/01/11 above indicated the same phemonemon in Japan.

The chart dated 01/01/11 indicated the same phemonemon in Hong Kong market.

The chart dated 01/01/11 indicated the same phemonemon in Singapore market.

China Fishery - Not everyone likes fishing.

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

01/21/10 CIMB China Fishery 1.86 2.3 Outperform PER11x
02/11/10 CIMB China Fishery 1.7 2.3 Outperform PER11x
04/30/10 CIMB China Fishery 2.16 2.3 Outperform
06/22/10 CIMB China Fishery 1.94 1.6 Underperform PER7.6x
06/30/10 CIMB China Fishery 1.83 1.7 Neutral PER9.4x
08/11/10 CIMB China Fishery 1.87 1.75 Neutral PER9.4x
09/22/10 CIMB China Fishery 1.94 1.75 Neutral PER9.4x
11/26/10 CIMB China Fishery 2.18 2.55 Outperform PER12.5x
12/21/10 CIMB China Fishery 2.27 2.55 Outperform PER12.5x

01/04/10 DBS Vickers China Fishery 1.32 1.63 Buy PER8x
01/08/10 DBS Vickers China Fishery 1.41 1.63 Buy
02/11/10 DBS Vickers China Fishery 1.7 2.5 Buy PER10x
05/13/10 DBS Vickers China Fishery 2.15 2.5 Buy PER10x
06/30/10 DBS Vickers China Fishery 1.83 2.2 Buy PER10x
07/12/10 DBS Vickers China Fishery 2 2.12 Hold PER10x
08/11/10 DBS Vickers China Fishery 1.87 2.12 Hold PER10x
11/26/10 DBS Vickers China Fishery 2.18 1.83 Fully Valued PER10x
12/20/10 DBS Vickers China Fishery 2.26 2.38 Fully Valued PER13x

10/08/10 Deutsche China Fishery 2.1 2.6 Buy PER11x

01/14/10 DMG & Partners China Fishery 1.88 1.84 Neutral PER7.1x
01/22/10 DMG & Partners China Fishery 1.87 2.4 Buy PER9.3x
02/11/10 DMG & Partners China Fishery 1.7 2.4 Buy PER9.3x
02/18/10 DMG & Partners China Fishery 1.8 2.4 Buy
04/20/10 DMG & Partners China Fishery 2.15 2.4 Buy
05/14/10 DMG & Partners China Fishery 2.15 2.4 Buy PER8.6x
05/19/10 DMG & Partners China Fishery 2.05 2.4 Buy PER8.6x
06/03/10 DMG & Partners China Fishery 1.83 2.4 Buy PER8.6x
06/30/10 DMG & Partners China Fishery 1.83 2.1 Buy PER8.6x
07/21/10 DMG & Partners China Fishery 1.97 1.98 Neutral PER8.6x
08/11/10 DMG & Partners China Fishery 1.87 1.98 Neutral PER8.6x
11/26/10 DMG & Partners China Fishery 2.18 2 Neutral PER9.2x
12/21/10 DMG & Partners China Fishery 2.26 2 Neutral PER9.2x

China Essence - Downgraded by Lim & Tan.

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

02/10/10 Lim & Tan China Essence 0.39 0 Buy
06/03/10 Lim & Tan China Essence 0.42 0 Hold

China Environment - Buy call from DMG.

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

10/22/10 DMG & Partners China Environment 0.255 0.32 Buy PATMI

China Animal - Downgraded by AmFraser.

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

07/06/10 AmFraser China Animal 0.32 0.39 Buy
08/13/10 AmFraser China Animal 0.3 0.39 Buy Under Review
11/15/10 AmFraser China Animal 0.365 0.34 Hold

07/02/10 DBS Vickers China Animal 0.32 0.39 Buy PER13x
08/13/10 DBS Vickers China Animal 0.3 0.41 Buy PER13x
09/27/10 DBS Vickers China Animal 0.34 0.41 Buy

10/29/10 DMG & Partners China Animal 0.345 0.48 Buy EV/Ebitda7x
11/15/10 DMG & Partners China Animal 0.375 0.48 Buy
12/01/10 DMG & Partners China Animal 0.36 0.48 Buy
12/07/10 DMG & Partners China Animal 0.365 0.48 Buy
12/15/10 DMG & Partners China Animal 0.405 0.48 Buy

11/18/10 Kim Eng China Animal 0.355 0.48 Buy PER15x
12/13/10 Kim Eng China Animal 0.41 0.48 Buy

CH Offshore - Downgraded by DBS Vickers.

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

01/04/10 DBS Vickers CH Offshore 0.68 0.89 Buy
02/05/10 DBS Vickers CH Offshore 0.65 0.87 Buy PER9x
02/08/10 DBS Vickers CH Offshore 0.645 0.87 Buy
05/20/10 DBS Vickers CH Offshore 0.605 0.7 Hold PER9x
11/04/10 DBS Vickers CH offshore 0.535 0.6 Hold PER9x

11/09/10 DnB Nor CH offshore 0.54 0.7 Buy NAV 0.66, PER7.6x, EV/Ebitda6x

Cerebos - Target price was upgraded by CIMB.

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

06/01/10 CIMB Cerebos 3.91 5.34 Outperform Sum of parts
08/16/10 CIMB Cerebos 4.15 5.98 Outperform Sum of parts
11/15/10 CIMB Cerebos 4.97 6.91 Outperform Sum of parts

CDL Hospitality - Downgraded by analysts recently.

01/29/10 CIMB CDL Hospitality 1.76 2.01 Outperform DDM
03/25/10 CIMB CDL Hospitality 1.76 2.01 Outperform
04/19/10 CIMB CDL Hospitality 1.95 2.01 Outperform
05/03/10 CIMB CDL Hospitality 1.93 2.2 Outperform DDM
05/18/10 CIMB CDL Hospitality 1.92 2.2 Outperform
07/09/10 CIMB CDL Hospitality 1.77 2.04 Outperform DDM
09/27/10 CIMB CDL Hospitality 2.04 2.3 Outperform DDM
10/29/10 CIMB CDL Hospitality 2.15 2.21 Neutral DDM
11/18/10 CIMB CDL Hospitality 2.06 2.21 Neutral DDM

06/23/10 Citigroup CDL Hospitality 1.75 1.63 Sell

01/04/10 DBS Vickers CDL Hospitality 1.65 1.77 Buy
01/28/10 DBS Vickers CDL Hospitality 1.66 2 Buy DDM
01/29/10 DBS Vickers CDL Hospitality 1.76 2.11 Buy
02/22/10 DBS Vickers CDL Hospitality 1.67 2.11 Buy
03/08/10 DBS Vickers CDL Hospitality 1.68 2.11 Buy DDM
04/09/10 DBS Vickers CDL Hospitality 1.84 2.11 Buy
04/15/10 DBS Vickers CDL Hospitality 1.89 2.11 Buy
04/30/10 DBS Vickers CDL Hospitality 1.9 2.11 Buy
05/03/10 DBS Vickers CDL Hospitality 1.93 2.2 Buy
07/01/10 DBS Vickers CDL Hospitality 1.75 2.03 Buy
07/28/10 DBS Vickers CDL Hospitality 1.94 2.14 Buy Div Yield 6.5%
08/18/10 DBS Vickers CDL Hospitality 2.01 2.14 Buy
08/20/10 DBS Vickers CDL Hospitality 2.01 2.14 Buy
08/23/10 DBS Vickers CDL Hospitality 2.07 2.14 Buy
08/31/10 DBS Vickers CDL Hospitality 2.01 2.14 Buy
09/27/10 DBS Vickers CDL Hospitality 2.04 2.28 Buy
11/22/10 DBS Vickers CDL Hospitality 2.06 2.28 Buy
11/23/10 DBS Vickers CDL Hospitality 2.07 2.28 Buy
12/13/10 DBS Vickers CDL Hospitality 2.01 2.28 Buy
12/17/10 DBS Vickers CDL Hospitality 2.07 2.28 Buy

01/27/10 DMG & Partners CDL Hospitality 1.62 2.15 Buy DDM
01/29/10 DMG & Partners CDL Hospitality 1.76 2.3 Buy DDM
03/29/10 DMG & Partners CDL Hospitality 1.73 2.3 Buy
04/01/10 DMG & Partners CDL Hospitality 1.76 2.3 Buy
04/06/10 DMG & Partners CDL Hospitality 1.87 2.3 Buy 5% yield
04/28/10 DMG & Partners CDL Hospitality 1.89 2.3 Buy
05/03/10 DMG & Partners CDL Hospitality 1.93 2.3 Buy DDM
06/22/10 DMG & Partners CDL Hospitality 1.89 2.3 Buy DDM
07/28/10 DMG & Partners CDL Hospitality 1.94 2.3 Buy DDM
07/29/10 DMG & Partners CDL Hospitality 1.94 2.3 Buy DDM
10/29/10 DMG & Partners CDL Hospitality 2.15 2.3 Under Review DDM

01/29/10 Lim & Tan CDL Hospitality 1.76 0 Buy
06/23/10 Lim & Tan CDL Hospitality 1.89 0 Buy

12/06/10 OCBC CDL Hospitality 2.01 2.28 Buy
12/08/10 OCBC CDL Hospitality 12.46 12.35 Neutral RNAV

02/01/10 phillip CDL Hospitality 1.8 1.96 Hold
05/03/10 phillip CDL Hospitality 1.93 1.96 Hold
05/03/10 phillip CDL Hospitality 1.93 1.96 Hold
06/24/10 phillip CDL Hospitality 1.77 1.92 Hold
06/24/10 phillip CDL Hospitality 1.77 1.92 Hold
07/29/10 phillip CDL Hospitality 2 1.93 Hold

Capitamalls Asia - Mostly buy calls from analysts.

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

10/29/10 CIMB Capitamalls Asia 2.14 2.13 Underperform

08/04/10 DBS Vickers Capitamalls Asia 2.16 2.58 Buy RNAV (10% premium)
10/29/10 DBS Vickers Capitamalls Asia 2.14 2.59 Buy RNAV (10% premium)
11/01/10 DBS Vickers Capitamalls Asia 2.14 2.59 Buy
11/08/10 DBS Vickers Capitamalls Asia 2.12 2.59 Buy

09/09/10 DIR Capitamalls Asia 2.2 2.65 Outperform RNAV

12/23/10 IIFL Capitamalls Asia 1.88 2.21 Add

07/05/10 OCBC Capitamalls Asia 2.05 2.4 Buy
07/16/10 OCBC Capitamalls Asia 2.07 2.4 Buy
08/04/10 OCBC Capitamalls Asia 2.16 2.4 Buy Under Review
09/14/10 OCBC Capitamalls Asia 2.25 2.4 Buy RNAV, Under Review
10/29/10 OCBC Capitamalls Asia 2.14 2.4 Under Review RNAV
11/02/10 OCBC Capitamalls Asia 1.98 2.4 Buy Under Review
12/08/10 OCBC Capitamalls Asia 2 2.4 Buy Under Review

Capitamall Trust - Mixed calls from analysts.

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

07/23/10 CIMB Capitamall Trust 1.98 1.93 Neutral DDM
10/25/10 CIMB Capitamall Trust 2.02 1.98 Underperform DDM
11/18/10 CIMB Capitamall Trust 1.94 1.98 Underperform DDM

08/23/10 DBS Vickers Capitamall Trust 1.97 2.09 Buy
10/25/10 DBS Vickers Capitamall Trust 2.02 2.09 Buy DCF
12/17/10 DBS Vickers Capitamall Trust 1.92 2.09 Buy

10/22/10 DMG & Partners Capitamall Trust 2.01 2.05 Neutral DDM

12/10/10 HSBC Capitamall Trust 1.94 2.22 Overweight

07/23/10 JP Morgan Capitamall Trust 1.98 2.15 Overweight

07/23/10 Kim Eng Capitamall Trust 1.98 2.23 Buy DDM
10/25/10 Kim Eng Capitamall Trust 2.02 2.27 Buy DDM

09/24/10 OCBC Capitamall Trust 2.06 2.01 Hold RNAV
09/30/10 OCBC Capitamall Trust 2.07 2.01 Hold
10/08/10 OCBC Capitamall Trust 2.14 2.01 Hold
11/09/10 OCBC Capitamall Trust 2 2.05 Hold Under Review
12/10/10 OCBC Capitamall Trust 1.94 2.05 Hold RNAV

Capitaland - 4 buy calls, 1 sell call & 3 neutral calls for this property developer.

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

08/30/10 AmFraser Capitaland 4 4.84 Buy
11/03/10 AmFraser Capitaland 3.85 4.84 Buy RNAV

08/05/10 CIMB Capitaland 4.08 4.11 Neutral RNAV
08/23/10 CIMB Capitaland 4.05 4.15 Neutral RNAV

06/16/10 DBS Vickers Capitaland 3.75 5.03 Buy
07/16/10 DBS Vickers Capitaland 3.78 5.03 Buy
08/05/10 DBS Vickers Capitaland 4.08 4.93 Buy RNAV (10% discount)
08/17/10 DBS Vickers Capitaland 3.95 4.93 Buy
10/28/10 DBS Vickers Capitaland 3.92 4.94 Buy
11/01/10 DBS Vickers Capitaland 3.89 4.96 Buy RNAV (10% discount)
12/16/10 DBS Vickers Capitaland 3.68 4.95 Buy
12/20/10 DBS Vickers Capitaland 3.62 4.96 Buy

06/16/10 DMG & Partners Capitaland 3.75 4.32 Neutral RNAV
06/17/10 DMG & Partners Capitaland 3.75 4.32 Neutral RNAV
08/05/10 DMG & Partners Capitaland 4.08 4.32 Neutral RNAV
08/23/10 DMG & Partners Capitaland 4.05 4.33 Neutral
10/22/10 DMG & Partners Capitaland 4.06 4.33 Neutral

06/11/10 Kim Eng Capitaland 3.54 5.15 Buy RNAV (15% premium)
08/05/10 Kim Eng Capitaland 4.08 5 Buy PB1.15x
08/23/10 Kim Eng Capitaland 4.05 5 Buy PB1.15x
09/09/10 Kim Eng Capitaland 3.94 5.08 Buy RNAV (15% discount)
11/01/10 Kim Eng Capitaland 3.89 4.88 Buy RNAV (10% premium)
12/15/10 Kim Eng Capitaland 3.68 4.74 Buy RNAV (10% premium)

11/23/10 Lim & Tan Capitaland 3.77 0 Neutral
11/26/10 Lim & Tan Capitaland 3.73 0 Neutral

06/03/10 OCBC Capitaland 3.51 4.97 Buy RNAV
06/07/10 OCBC Capitaland 3.6 4.97 Buy RNAV
06/16/10 OCBC Capitaland 3.75 4.97 Buy
07/05/10 OCBC Capitaland 3.62 4.97 Buy
07/16/10 OCBC Capitaland 3.78 4.97 Buy
11/02/10 OCBC Capitaland 3.84 4.54 Buy
11/16/10 OCBC Capitaland 3.8 4.96 Buy
12/06/10 OCBC Capitaland 3.67 4.95 Buy
12/08/10 OCBC Capitaland 3.69 4.54 Buy RNAV

12/14/10 RBS Capitaland 3.66 3.2 Sell

Capitacommercial - Hold calls from most analysts.

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

06/15/10 CIMB CapitaCommercial 1.17 1.37 Outperform
07/19/10 CIMB CapitaCommercial 1.32 1.37 Outperform DDM
07/22/10 CIMB CapitaCommercial 1.35 1.27 Neutral DDM
10/21/10 CIMB CapitaCommercial 1.44 1.41 Neutral DDM
10/22/10 CIMB CapitaCommercial 1.45 1.41 Neutral DDM
11/18/10 CIMB CapitaCommercial 1.46 1.41 Neutral DDM

07/22/10 Citigroup CapitaCommercial 1.35 1.42 Hold

07/19/10 DBS Vickers CapitaCommercial 1.32 1.3 Hold DCF
07/22/10 DBS Vickers CapitaCommercial 1.33 1.33 Hold
10/22/10 DBS Vickers CapitaCommercial 1.45 1.47 Hold DCF

07/16/10 DMG & Partners CapitaCommercial 1.32 1.24 Neutral
07/20/10 DMG & Partners CapitaCommercial 1.32 1.24 Neutral
07/22/10 DMG & Partners CapitaCommercial 1.33 1.24 Neutral DDM
08/12/10 DMG & Partners CapitaCommercial 1.36 1.24 Neutral
09/24/10 DMG & Partners CapitaCommercial 1.48 1.24 Neutral
10/22/10 DMG & Partners CapitaCommercial 1.44 1.55 Neutral

07/22/10 Kim Eng CapitaCommercial 1.35 1.2 Hold DDM
09/22/10 Kim Eng CapitaCommercial 1.41 1.2 Hold DDM
10/22/10 Kim Eng CapitaCommercial 1.45 1.25 Hold

06/24/10 Lim & Tan CapitaCommercial 1.18 0 Buy
06/29/10 Lim & Tan CapitaCommercial 1.22 0 Buy

06/01/10 OCBC CapitaCommercial 1.14 1.26 Buy RNAV
07/07/10 OCBC CapitaCommercial 1.23 1.26 Hold RNAV
07/12/10 OCBC CapitaCommercial 1.33 1.26 Hold
09/30/10 OCBC CapitaCommercial 1.46 1.26 Hold
10/07/10 OCBC CapitaCommercial 1.44 1.5 Hold RNAV
10/28/10 OCBC CapitaCommercial 1.46 1.52 Hold
12/10/10 OCBC CapitaCommercial 1.48 1.52 Hold RNAV

Cambridge Industrial - Analysts are confused about this reit.

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

07/16/10 DBS Vickers Cambridge Industrial 0.51 0.54 Buy
09/30/10 DBS Vickers Cambridge Industrial 0.545 0.54 Hold
10/25/10 DBS Vickers Cambridge Industrial 0.55 0.58 Buy

07/16/10 DMG & Partners Cambridge Industrial 0.51 0.64 Buy
08/13/10 DMG & Partners Cambridge Industrial 0.505 0.62 Buy DCF
10/21/10 DMG & Partners Cambridge Industrial 0.565 0.62 Buy DDM

07/19/10 phillip Cambridge Industrial 0.515 0.51 Hold
08/16/10 phillip Cambridge Industrial 0.51 0.52 Hold DCF
10/25/10 phillip Cambridge Industrial 0.55 0.61 Hold

Cache Logistics - Everyone likes this stock.

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

04/12/10 CIMB Cache Logistics 0.88 1.23 Outperform DDM
05/18/10 CIMB Cache Logistics 0.96 1.23 Outperform
07/30/10 CIMB Cache Logistics 1.01 1.26 Outperform DDM
10/29/10 CIMB Cache Logistics 0.99 1.3 Outperform DDM
11/18/10 CIMB Cache Logistics 0.95 1.3 Outperform DDM

06/09/10 DBS Vickers Cache Logistics 0.95 1.05 Buy DDM
07/30/10 DBS Vickers Cache Logistics 1.01 1.08 Buy
10/29/10 DBS Vickers Cache Logistics 0.99 1.11 Buy
12/17/10 DBS Vickers Cache Logistics 0.94 1.11 Buy

04/12/10 DMG & Partners Cache Logistics 0.88 1.0225 Buy IPO

C&O Pharm - Buy calls from analysts.

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

09/02/10 DMG & Partners C&O Pharm 0.47 0.62 Buy PER13x
10/22/10 DMG & Partners C&O Pharm 0.49 0.62 Buy PER13x
11/16/10 DMG & Partners C&O Pharm 0.475 0.62 Buy PER13x

11/15/10 phillip C&O Pharm 0.475 0.65 Buy DCF, PER13.7x
12/03/10 phillip C&O Pharm 0.495 0.65 Buy DCF, PER13.7x

CNA - DMG downgraded this stock!

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

07/01/10 DMG & Partners CNA 0.235 0.26 Neutral PER3.7x
08/23/10 DMG & Partners CNA 0.23 0.23 Neutral PER7x
12/03/10 DMG & Partners CNA 0.215 0.19 Sell
12/07/10 DMG & Partners CNA 0.2 0.19 Sell PER7x

Bukit Sembawang - A lousy property developer?

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

07/02/10 CIMB Bukit Sembawang 4.76 4.8 Underperform RNAV (30% discount)
11/15/10 CIMB Bukit Sembawang 4.89 4.8 Underperform RNAV (30% discount)

07/16/10 DBS Vickers Bukit Sembawang 4.8 5.25 Hold
08/10/10 DBS Vickers Bukit Sembawang 4.83 5.25 Hold RNAV (40% discount)
12/20/10 DBS Vickers Bukit Sembawang 4.62 5.25 Hold

11/16/10 OCBC Bukit Sembawang 4.82 5.21 Hold

Baltic Dry Index (BDI) - 1830

Quote:

The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal, and fertiliser, fell 2.97 per cent, or 56 points, to 1,830 points and was at its lowest since July 23.


End Quote.

Broadway - Target prices were downgraded by analysts.

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

06/24/10 CIMB Broadway 1.12 1.86 Outperform PER8x
07/23/10 CIMB Broadway 1.14 1.86 Outperform PER8x
07/29/10 CIMB Broadway 1.23 1.86 Outperform PER8x
09/06/10 CIMB Broadway 1.15 1.86 Outperform PER8x
10/26/10 CIMB Broadway 1.23 1.86 Outperform PER8x
10/28/10 CIMB Broadway 1.21 1.82 Outperform PER8x

07/15/10 DBS Vickers Broadway 1.17 1.5 Buy PER7x
07/29/10 DBS Vickers Broadway 1.23 1.5 Buy PER7x
10/22/10 DBS Vickers Broadway 1.22 1.5 Buy
10/28/10 DBS Vickers Broadway 1.21 1.34 Hold PER6x

07/29/10 DMG & Partners Broadway 1.23 1.46 Buy
08/03/10 DMG & Partners Broadway 1.15 1.46 Buy PER6.9x
09/27/10 DMG & Partners Broadway 1.18 1.46 Buy
10/28/10 DMG & Partners Broadway 1.21 1.39 Buy PER7x

07/29/10 Lim & Tan Broadway 1.23 0 Buy
10/28/10 Lim & Tan Broadway 1.21 0 Neutral

Breadtalk - Nobody likes bread anymore.

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

09/15/10 JP Morgan Breadtalk 0.58 0.7 Overweight PER7x

01/29/10 Kim Eng Breadtalk 0.645 1 Buy
02/26/10 Kim Eng Breadtalk 0.705 1 Buy
05/26/10 Kim Eng Breadtalk 0.49 0.7 Buy
08/12/10 Kim Eng Breadtalk 0.56 0.66 Hold DCF
11/15/10 Kim Eng Breadtalk 0.65 0.66 Hold

Boustead - Downgraded by DBS Vickers.

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

01/05/10 DBS Vickers Boustead 0.79 1 Buy Sum of parts
02/09/10 DBS Vickers Boustead 0.79 1 Buy Sum of parts
05/27/10 DBS Vickers Boustead 0.78 1 Buy Sum of parts
06/21/10 DBS Vickers Boustead 0.875 1.1 Buy
06/30/10 DBS Vickers Boustead 0.85 1.1 Buy
09/27/10 DBS Vickers Boustead 1 1.1 Buy
12/02/10 DBS Vickers Boustead 1.12 1 Hold Sum of parts

Biosensors - A good bio-tech firm!

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

09/16/10 DBS Vickers Biosensors 0.84 1.2 Buy Sum of parts
09/27/10 DBS Vickers Biosensors 1.01 1.2 Buy
10/14/10 DBS Vickers Biosensors 1.06 1.2 Buy

10/15/10 OCBC Biosensors 1.04 1.3 Outperform FCFE Model
11/04/10 OCBC Biosensors 1.16 1.3 Buy
11/10/10 OCBC Biosensors 1.22 1.35 Buy DCF
12/01/10 OCBC Biosensors 1.18 1.35 Buy DCF
12/06/10 OCBC Biosensors 1.19 1.35 Buy

Beyonics - Sell call by Lim & Tan.

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

06/07/10 Lim & Tan Beyonics 0.23 0 Sell
09/29/10 Lim & Tan Beyonics 0.24 0 Sell

Baltic Dry Index (BDI) - 1955

Quote:

The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell to its lowest in over four months on Monday as weaker activity on the smaller panamaxes weighed on sentiment. The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal as well as fertiliser, fell 2.2 per cent, or 44 points, to 1,955 points in a tenth straight drop - falling to its lowest since July 29.

End Quote.

Berlian Laju - A different kind of shipper!

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

05/27/10 CIMB Berlian Laju 0.06 0.15 Outperform Sum of parts (15% discount)
07/15/10 CIMB Berlian Laju 0.045 0.11 Outperform Sum of parts

BBR - DMG loves this stock very much!

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

03/03/10 DMG & Partners BBR 0.255 0.33 Buy PER7.1x
04/07/10 DMG & Partners BBR 0.25 0.33 Buy
05/10/10 DMG & Partners BBR 0.225 0.33 Buy PER7.1x
05/13/10 DMG & Partners BBR 0.235 0.33 Buy PER7.1x
05/14/10 DMG & Partners BBR 0.235 0.33 Buy PER7.1x
06/17/10 DMG & Partners BBR 0.225 0.33 Buy
07/01/10 DMG & Partners BBR 0.215 0.33 Buy
08/13/10 DMG & Partners BBR 0.23 0.33 Buy PER7.1x
09/29/10 DMG & Partners BBR 0.24 0.33 Buy
11/11/10 DMG & Partners BBR 0.25 0.33 Buy PER6.5x
11/23/10 DMG & Partners BBR 0.26 0.33 Buy

Banyan Tree - Analysts don't like this resort!

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

03/01/10 CIMB Banyan Tree 0.69 0.86 Outperform EV/Ebita 12x
05/18/10 CIMB Banyan Tree 0.83 0.8 Underperform
08/16/10 CIMB Banyan Tree 0.85 0.86 Underperform Sum of parts, Cease coverage

03/03/10 DBS Vickers Banyan Tree 0.71 1.04 Buy Sum of parts, EV/Ebita 15x
05/14/10 DBS Vickers Banyan Tree 0.82 0.96 Hold Sum of parts
08/12/10 DBS Vickers Banyan Tree 0.86 0.98 Hold Sum of parts

Avi-Tech - OCBC loves this stock so much.

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

01/21/10 OCBC Avi-Tech 0.19 0.24 Buy NTA1.2x
02/10/10 OCBC Avi-Tech 0.16 0.24 Buy NTA1.2x
04/09/10 OCBC Avi-Tech 0.18 0.24 Buy NTA1.2x
05/10/10 OCBC Avi-Tech 0.18 0.24 Buy NTA1.2x
05/26/10 OCBC Avi-Tech 0.165 0.24 Buy NTA1.2x
06/08/10 OCBC Avi-Tech 0.175 0.24 Buy NTA1.2x
06/22/10 OCBC Avi-Tech 0.19 0.24 Buy Div Yield 6.1%
07/08/10 OCBC Avi-Tech 0.19 0.24 Buy NTA1.2x
08/31/10 OCBC Avi-Tech 0.19 0.24 Buy NTA1.2x
09/02/10 OCBC Avi-Tech 0.19 0.24 Buy
09/13/10 OCBC Avi-Tech 0.19 0.24 Buy NTA1.2x
10/05/10 OCBC Avi-Tech 0.21 0.24 Buy NTA1.2x
10/08/10 OCBC Avi-Tech 0.215 0.28 Buy NTA1.5x
11/12/10 OCBC Avi-Tech 0.205 0.28 Buy Under Review
11/18/10 OCBC Avi-Tech 0.19 0.28 Buy NTA
12/07/10 OCBC Avi-Tech 0.19 0.28 Buy NTA1.5x

Ausgroup - A lousy stock!

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

08/11/10 CIMB Ausgroup 0.51 0.47 Underperform PER8.5x
11/15/10 CIMB Ausgroup 0.47 0.46 Underperform PER8.5x


06/28/10 OCBC Ausgroup 0.515 0.45 Hold PER11x
08/24/10 OCBC Ausgroup 0.485 0.45 Hold Cease coverage

ASL Marine - Downgraded by CIMB & OCBC.

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

05/31/10 CIMB ASL Marine 0.78 1.1 Outperform
06/08/10 CIMB ASL Marine 0.8 1.1 Outperform
08/06/10 CIMB ASL Marine 0.87 1.1 Outperform
08/19/10 CIMB ASL Marine 0.9 1.03 Outperform PER7.5x
11/11/10 CIMB ASL Marine 0.9 0.98 Neutral PER7.5x

11/09/10 DnB Nor ASL Marine 0.9 1.35 Buy NAV 1.37, PER4.9x, EV/Ebitda3.4x

08/19/10 Kim Eng ASL Marine 0.895 1.53 Buy
09/13/10 Kim Eng ASL Marine 0.9 1.12 Buy PB1x
11/11/10 Kim Eng ASL Marine 0.9 1.12 Buy
11/26/10 Kim Eng ASL Marine 0.85 1.12 Buy

06/09/10 OCBC ASL Marine 0.8 1.09 Buy
07/08/10 OCBC ASL Marine 0.82 1.09 Buy
07/15/10 OCBC ASL Marine 0.85 1.09 Buy
08/19/10 OCBC ASL Marine 0.895 1.04 Buy
08/25/10 OCBC ASL Marine 0.87 1.04 Buy
09/02/10 OCBC ASL Marine 0.865 1.04 Buy
09/06/10 OCBC ASL Marine 0.88 1.04 Buy
09/13/10 OCBC ASL Marine 0.9 1.09 Buy
09/27/10 OCBC ASL Marine 0.94 1.04 Buy
09/30/10 OCBC ASL Marine 0.93 1.04 Buy
10/04/10 OCBC ASL Marine 0.93 1.04 Buy
11/11/10 OCBC ASL Marine 0.9 0.94 Hold PER9x
12/02/10 OCBC ASL Marine 0.9 0.94 Hold Bonus Issue

Asia Travel - Bad time to travel?

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

07/28/10 DBS Vickers Asiatravel 0.48 0.42 Hold
08/17/10 DBS Vickers Asiatravel 0.46 0.53 Hold DCF
10/13/10 DBS Vickers Asiatravel 0.47 0.63 Hold PER20x
11/23/10 DBS Vickers Asiatravel 0.45 0.63 Buy
11/30/10 DBS Vickers Asiatravel 0.42 0.4 Hold

06/09/10 DMG & Partners Asiatravel 0.35 0.56 Buy
08/03/10 DMG & Partners Asiatravel 0.48 0.56 Buy
08/18/10 DMG & Partners Asiatravel 0.46 0.56 Buy PER23x
10/28/10 DMG & Partners Asiatravel 0.45 0.56 Buy DCF, PER22x

08/16/10 Kim Eng Asiatravel 0.45 0.53 Hold
11/29/10 Kim Eng Asiatravel 0.45 0.47 Hold

Ascendas India Trust - Can we trust the indians?

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

07/26/10 DBS Vickers Ascendas India Trust 0.985 1.06 Buy
10/25/10 DBS Vickers Ascendas India Trust 1.04 1.08 Hold

07/27/10 JP Morgan Ascendas India Trust 0.96 1.1 Overweight

Ascott Residences Trust (ART) - Some analysts downgraded this ART.

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

07/26/10 CIMB ART 1.23 1.35 Outperform DDM
08/23/10 CIMB ART 1.2 1.35 Outperform
10/25/10 CIMB ART 1.24 1.24 Underperform DDM
11/18/10 CIMB ART 1.2 1.24 Underperform DDM

12/13/10 Credit Suisse ART 1.21 1.3 Neutral

07/26/10 DBS Vickers ART 1.23 1.44 Buy
07/28/10 DBS Vickers ART 1.23 1.44 Buy
08/18/10 DBS Vickers ART 1.23 1.44 Buy
08/20/10 DBS Vickers ART 1.23 1.44 Buy
10/25/10 DBS Vickers ART 1.24 1.38 Buy
11/23/10 DBS Vickers ART 1.2 1.38 Buy
12/17/10 DBS Vickers ART 1.22 1.38 Buy

09/06/10 DIR ART 1.16 1.38 Outperform

07/26/10 Kim Eng ART 1.23 1.35 Buy
08/10/10 Kim Eng ART 1.19 1.35
08/10/10 Kim Eng ART 1.18 1.35 Buy DDM
08/11/10 Kim Eng ART 1.18 1.35 Buy DDM
08/23/10 Kim Eng ART 1.2 1.45 Buy
10/26/10 Kim Eng ART 1.25 1.38 Buy

09/15/10 Lim & Tan ART 1.15 0 Buy
11/25/10 Lim & Tan ART 1.19 0 Buy

07/12/10 OCBC ART 1.17 1.32 Buy
07/23/10 OCBC ART 1.24 1.32 Buy
08/06/10 OCBC ART 1.18 1.33 Buy
09/02/10 OCBC ART 1.12 1.33 Buy
09/30/10 OCBC ART 1.15 1.33 Buy
10/12/10 OCBC ART 1.16 1.38 Buy
10/25/10 OCBC ART 1.24 1.38 Buy
12/10/10 OCBC ART 1.23 1.38 Buy

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

The chart above dated 15/12/10 shows that the 100-day SMA for trading volume has stopped deteriortating which will bode well for the US market.  Coincidentally, US market also responded positively recently.  If the rally is to be sustainable, the 100-day SMA has to keep on improving and I urge investors to be vigilant about this.

The chart above dated 15/12/10 indicates that there is renewed confidence in the japan market which is supported by increasing 100-day SMA for trading volume.  Nikkei also responded very well during this period.

The chart above dated 15/12/10 depicts strong inflow of funds into Singapore with the property and stock markets moving in tandem.  Although STI has fallen from its high, it has not fallen below its low due to strong investor confidence in Singapore.  However, investors have to be beware once the 100-day SMA for trading volume starts to fall.

The chart above dated 15/12/10 indicates the same phemomenon of STI happening to HSI.

Armstrong - This stock is super strong!

06/07/10 CIMB Armstrong 0.39 0.56 Outperform PER9x
06/18/10 CIMB Armstrong 0.43 0.555 Outperform PER9x
08/13/10 CIMB Armstrong 0.42 0.55 Outperform PER9x

05/18/10 DMG & Partners Armstrong 0.39 0.49 Buy PER9.8x
05/19/10 DMG & Partners Armstrong 0.39 0.49 Buy PER9.8x
05/24/10 DMG & Partners Armstrong 0.355 0.49 Buy PER9.8x
06/11/10 DMG & Partners Armstrong 0.45 0.49 Buy
08/16/10 DMG & Partners Armstrong 0.415 0.545 Buy PER10x
11/10/10 DMG & Partners Armstrong 0.44 0.545 Buy PER10x

05/17/10 Kim Eng Armstrong 0.38 0.48 Buy PER11x
06/21/10 Kim Eng Armstrong 0.455 0.57 Buy PER10x
08/13/10 Kim Eng Armstrong 0.415 0.57 Buy PER10x
10/15/10 Kim Eng Armstrong 0.435 0.53 Buy PER10x
11/09/10 Kim Eng Armstrong 0.455 0.53 Buy

05/17/10 Lim & Tan Armstrong 0.38 0 Buy
06/11/10 Lim & Tan Armstrong 0.45 0 Buy
08/13/10 Lim & Tan Armstrong 0.415 0 Buy
09/29/10 Lim & Tan Armstrong 0.435 0 Buy

Ascendas Reit (A-reit) - More hold calls than buy calls.

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

07/19/10 CIMB A-Reit 2 2.02 Neutral DDM
10/19/10 CIMB A-Reit 2.11 2.13 Neutral DDM
11/18/10 CIMB A-Reit 2.05 2.13 Neutral DDM

07/19/10 Credit Suisse A-Reit 2 2.33 Outperform

07/01/10 DBS Vickers A-Reit 1.86 2.11 Buy
07/19/10 DBS Vickers A-Reit 2 2.11 Buy
08/18/10 DBS Vickers A-Reit 2.04 2.11 Hold
10/19/10 DBS Vickers A-Reit 2.11 2.19 Hold

07/16/10 DMG & Partners A-Reit 2 2.11 Neutral DDM
07/20/10 DMG & Partners A-Reit 2 2.11 Neutral Div Yield 6.5%
10/19/10 DMG & Partners A-Reit 2.11 2.11 Neutral

07/20/10 Kim Eng A-Reit 2 2.32 Buy
09/14/10 Kim Eng A-Reit 2.29 2.4 Hold
10/20/10 Kim Eng A-Reit 2.1 2.3 Hold

07/12/10 OCBC A-Reit 1.93 1.85 Hold
09/30/10 OCBC A-Reit 2.2 1.85 Hold
11/03/10 OCBC A-Reit 2.1 2.11 Hold
12/10/10 OCBC A-Reit 2.12 2.21 Hold RNAV

09/02/10 RBS A-Reit 2.12 2.55 Buy

ARA Asset Management - Downgraded by CIMB.

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

08/13/10 CIMB ARA Asset Management 1.12 1.35 Outperform Sum of parts
10/27/10 CIMB ARA Asset Management 1.29 1.57 Outperform PER18x
11/11/10 CIMB ARA Asset Management 1.56 1.58 Neutral Sum of parts

07/09/10 DBS Vickers ARA Asset Management 1.12 1.3 Buy Sum of parts
08/13/10 DBS Vickers ARA Asset Management 1.12 1.3 Buy Sum of parts

Anwell - Is everything going well?

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

04/09/10 DMG & Partners Anwell 0.585 0.78 Buy PER8x, PB0.8x
04/12/10 DMG & Partners Anwell 0.635 0.78 Buy PER8x

Allgreen - Downgraded by analysts.

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

08/13/10 AmFraser Allgreen 1.12 1.45 Buy RNAV
08/30/10 AmFraser Allgreen 1.14 1.45 Hold

08/13/10 CIMB Allgreen 1.12 1.16 Neutral RNAV (25% discount)
11/11/10 CIMB Allgreen 1.21 1.25 Neutral RNAV (25% discount)

07/16/10 DBS Vickers Allgreen 1.1 1.32 Hold

09/07/10 Nomura Allgreen 1.08 1.38 Buy PB0.8x

11/16/10 OCBC Allgreen 1.19 1.34 Hold

09/14/10 UBS Allgreen 1.13 1.13 Neutral

AIM AMP Cap Ind Reit - Hold call by Phillip.

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

02/09/10 phillip AIM AMP Cap Ind Reit 0.215 0.22 Hold
05/14/10 phillip AIM AMP Cap Ind Reit 0.22 0.23 Hold
05/14/10 phillip AIM AMP Cap Ind Reit 0.22 0.23 Hold DCF
08/03/10 phillip AIM AMP Cap Ind Reit 0.225 0.23 Hold
11/01/10 phillip AIM AMP Cap Ind Reit 0.225 0.24 Hold

Adampak - Buy calls from analysts.

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

02/18/10 DMG & Partners Adampak 0.23 0.295 Buy
03/05/10 DMG & Partners Adampak 0.245 0.31 Buy DDM
05/21/10 DMG & Partners Adampak 0.265 0.35 Buy DDM, PER7.2x
05/24/10 DMG & Partners Adampak 0.26 0.35 Buy DDM, PER7.2x
08/23/10 DMG & Partners Adampak 0.295 0.375 Buy DDM

05/04/10 Lim & Tan Adampak 0.3 0 Buy
05/14/10 Lim & Tan Adampak 0.28 0 Buy
05/20/10 Lim & Tan Adampak 0.265 0 Buy
08/19/10 Lim & Tan Adampak 0.3 0 Buy
11/23/10 Lim & Tan Adampak 0.31 0 Buy

Baltic Dry Index (BDI) - 2095

Quote:

The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell last week 0.76 per cent, or 16 points, to 2,095 points.

End Quote.

Second Chance - Worth to give a 2nd chance?

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

05/24/10 DMG & Partners 2nd Chance 0.3 0.41 Buy
08/27/10 DMG & Partners 2nd Chance 0.38 0.53 Buy DDM

Ziwo - Buy call by Phillip.

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

11/25/10 phillip Ziwo 0.335 0.47 Buy PER6x

Yongnam - Buy calls by analysts

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

03/01/10 CIMB Yongnam 0.26 0.46 Outperform PER10x
03/15/10 CIMB Yongnam 0.27 0.46 Outperform PER10x
03/24/10 CIMB Yongnam 0.26 0.46 Outperform PER10x
04/01/10 CIMB Yongnam 0.27 0.46 Outperform PER10x
05/17/10 CIMB Yongnam 0.25 0.46 Outperform PER10x
08/16/10 CIMB Yongnam 0.235 0.39 Outperform PER8x
10/04/10 CIMB Yongnam 0.27 0.41 Outperform PER8x
10/07/10 CIMB Yongnam 0.31 0.41 Outperform PER8x
11/11/10 CIMB Yongnam 0.305 0.41 Outperform PER8x

10/05/10 DBS Vickers Yongnam 0.27 0.45 Buy PER10x
11/11/10 DBS Vickers Yongnam 0.305 0.47 Buy
12/01/10 DBS Vickers Yongnam 0.28 0.47 Buy PER10x

Yong Xin - Buy call by Phillip.

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

02/04/10 phillip Yong Xin 0.165 0.29 Buy

02/19/10 phillip Yong Xin 0.18 0.29 Buy DCF, PER6.6x
03/09/10 phillip Yong Xin 0.175 0.29 Buy

Ying Li - DMG hates this stock.

01/08/10 DBS Vickers Ying Li 0.67 1.17 Buy
01/19/10 DBS Vickers Ying Li 0.62 1.08 Buy RNAV (10% discount)

01/26/10 DBS Vickers Ying Li 0.59 1.06 Buy RNAV (20% discount)
05/18/10 DBS Vickers Ying Li 0.42 0.67 Buy RNAV (40% discount)
08/23/10 DBS Vickers Ying Li 0.395 0.52 Buy RNAV (40% discount)
08/27/10 DBS Vickers Ying Li 0.4 0.52 Buy RNAV (40% discount)

01/25/10 DMG & Partners Ying Li 0.58 1.09 Buy RNAV
02/24/10 DMG & Partners Ying Li 0.45 0.8 Buy RNAV (20% discount)
05/05/10 DMG & Partners Ying Li 0.485 0.5 Neutral RNAV (50% discount)
05/19/10 DMG & Partners Ying Li 0.435 0.42 neutral RNAV (50% discount)
08/17/10 DMG & Partners Ying Li 0.405 0.33 Sell RNAV (50% discount)

01/25/10 Kim Eng Ying Li 0.575 1.2 Buy
02/25/10 Kim Eng Ying Li 0.45 1.2 Buy
04/09/10 Kim Eng Ying Li 0.53 1.04 Buy RNAV
05/18/10 Kim Eng Ying Li 0.42 0.78 Buy RNAV
08/16/10 Kim Eng Ying Li 0.415 0.62 Under Review
08/18/10 Kim Eng Ying Li 0.4 0.43 Hold
08/18/10 Kim Eng Ying Li 0.4 0.43 Hold RNAV (40% discount)
08/31/10 Kim Eng Ying Li 0.395 0.46 Hold RNAV (40% discount)
11/16/10 Kim Eng Ying Li 0.39 0.5 Buy RNAV (40% discount)

01/25/10 phillip Ying Li 0.58 1.15 Buy RNAV
02/25/10 phillip Ying Li 0.45 0.655 Buy RNAV (30% discount)

Yanlord - Latest stock call is HOLD!

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

05/14/10 CIMB Yanlord 1.64 1.83 Neutral RNAV (35% discount)
08/12/10 CIMB Yanlord 1.8 1.83 Neutral RNAV (35% discount)

12/07/10 Citigroup Yanlord 1.67 2.38 Buy

02/18/10 DBS Vickers Yanlord 1.79 2.22 Buy RNAV (20% discount)
02/26/10 DBS Vickers Yanlord 1.77 2.3 Buy RNAV (20% discount)
04/23/10 DBS Vickers Yanlord 1.74 1.99 Hold RNAV (30% discount)
05/14/10 DBS Vickers Yanlord 1.62 1.71 Hold RNAV (40% discount)
08/12/10 DBS Vickers Yanlord 1.8 1.71 Hold RNAV (40% discount)

Yangzijiang - Analysts are also feeling ambivalence about this stock.

09/15/10 BOA Yangzijiang 1.67 2.26 Buy PER14x

03/12/10 CIMB Yangzijiang 1.19 1.5 Outperform PER11x
04/09/10 CIMB Yangzijiang 1.2 1.5 Outperform PER11x
04/15/10 CIMB Yangzijiang 1.43 2.1 Outperform PER14x
04/19/10 CIMB Yangzijiang 1.43 2.07 Outperform PER14x
04/30/10 CIMB Yangzijiang 1.36 2.07 Outperform
04/30/10 CIMB Yangzijiang 1.63 1.97 Neutral
06/03/10 CIMB Yangzijiang 1.24 2.07 Outperform
08/11/10 CIMB Yangzijiang 1.43 1.54 Trading Buy PER10.5x
08/31/10 CIMB Yangzijiang 1.55 1.68 Outperform PER11x
10/07/10 CIMB Yangzijiang 1.81 2.15 Outperform PER12x
10/26/10 CIMB Yangzijiang 2.01 2.15 Outperform PER12x

10/12/10 Citigroup Yangzijiang 1.92 2.25 Buy PER13x

10/28/10 CLSA Yangzijiang 1.89 0 Sell

01/08/10 DBS Vickers Yangzijiang 1.22 1.36 Buy
04/19/10 DBS Vickers Yangzijiang 1.43 1.75 Buy
06/18/10 DBS Vickers Yangzijiang 1.3 1.8 Buy PER14x
06/22/10 DBS Vickers Yangzijiang 1.35 1.8 Buy PER14x
06/28/10 DBS Vickers Yangzijiang 1.37 1.8 Buy PER14x
08/02/10 DBS Vickers Yangzijiang 1.45 1.8 Buy
08/11/10 DBS Vickers Yangzijiang 1.43 1.8 Buy PER14x
08/31/10 DBS Vickers Yangzijiang 1.55 2.05 Buy PER14x
09/02/10 DBS Vickers Yangzijiang 1.6 2.05 Buy
09/27/10 DBS Vickers Yangzijiang 1.78 2.05 Buy
10/27/10 DBS Vickers Yangzijiang 1.96 2.38 Buy PER14x

03/30/10 DMG & Partners Yangzijiang 1.16 1.48 Buy PER12x
04/12/10 DMG & Partners Yangzijiang 1.24 1.48 Buy
04/19/10 DMG & Partners Yangzijiang 1.43 1.8 Buy PER15x
04/28/10 DMG & Partners Yangzijiang 1.4 1.8 Buy PER15x
04/29/10 DMG & Partners Yangzijiang 1.4 1.8 Buy PER15x
05/17/10 DMG & Partners Yangzijiang 1.34 1.8 Buy
05/25/10 DMG & Partners Yangzijiang 1.25 1.8 Buy PER15x
06/22/10 DMG & Partners Yangzijiang 1.35 1.75 Buy PER15x
07/20/10 DMG & Partners Yangzijiang 1.44 1.75 Buy PER15x
08/11/10 DMG & Partners Yangzijiang 1.43 1.75 Buy PER12x
08/12/10 DMG & Partners Yangzijiang 1.43 1.96 Buy PER15x
08/31/10 DMG & Partners Yangzijiang 1.55 2.02 Buy PER15x
09/01/10 DMG & Partners Yangzijiang 1.55 2.02 Buy PER15x
09/02/10 DMG & Partners Yangzijiang 1.6 2.02 Buy
10/22/10 DMG & Partners Yangzijiang 2 2.02 Buy Under Review
10/27/10 DMG & Partners Yangzijiang 1.96 2.15 Neutral PER15x

10/13/10 HSBC Yangzijiang 1.92 1.9 Neutral

06/22/10 Lim & Tan Yangzijiang 1.35 0 Buy
07/20/10 Lim & Tan Yangzijiang 1.44 0 Buy
09/02/10 Lim & Tan Yangzijiang 1.6 0 Buy

11/18/10 Nomura Yangzijiang 1.87 2.22 Buy

02/24/10 OCBC Yangzijiang 1.12 1.32 Buy
04/05/10 OCBC Yangzijiang 1.2 1.32 Buy
04/13/10 OCBC Yangzijiang 1.33 1.44 Hold PER12x
04/20/10 OCBC Yangzijiang 1.49 1.6 Hold
04/28/10 OCBC Yangzijiang 1.4 1.6 Hold
05/20/10 OCBC Yangzijiang 1.27 1.6 Hold
05/24/10 OCBC Yangzijiang 1.25 1.75 Buy
06/04/10 OCBC Yangzijiang 1.27 1.6 Hold
06/09/10 OCBC Yangzijiang 1.24 1.6 Hold
07/08/10 OCBC Yangzijiang 1.34 1.6 Buy
07/15/10 OCBC Yangzijiang 1.43 1.6 Buy
08/12/10 OCBC Yangzijiang 1.42 1.66 Buy PER12x
08/25/10 OCBC Yangzijiang 1.51 1.66 Buy
09/02/10 OCBC Yangzijiang 1.6 1.76 Buy
09/20/10 OCBC Yangzijiang 1.76 1.9 Hold PER13x
10/29/10 OCBC Yangzijiang 1.86 2.04 Hold

12/02/10 UOB Kay Hian Yangzijiang 1.88 2.37 Buy PER15x

Yamada - Buy calls from analysts.

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

10/15/10 Kim Eng Yamada 0.28 0 Buy


11/11/10 DMG & Partners Yamada 0.28 0.4 Buy PER5x
11/15/10 DMG & Partners Yamada 0.285 0.4 Buy Ev/Ebitda

Wing Tai - How is this property developer doing?

02/08/10 CIMB Wing Tai 1.76 2.01 Neutral RNAV
04/16/10 CIMB Wing Tai 1.92 2.01 Neutral
05/10/10 CIMB Wing Tai 1.72 2.01 Neutral
05/18/10 CIMB Wing Tai 1.76 2.01 neutral
06/14/10 CIMB Wing Tai 1.52 1.92 Outperform RNAV (15% discount)
08/24/10 CIMB Wing Tai 1.69 1.95 Outperform RNAV (15% discount)

03/08/10 DBS Vickers Wing Tai 1.71 1.97 Hold
05/14/10 DBS Vickers Wing Tai 1.76 1.97 Hold RNAV (15% discount)
06/16/10 DBS Vickers Wing Tai 1.63 1.97 Hold
07/16/10 DBS Vickers Wing Tai 1.6 1.97 Hold
08/24/10 DBS Vickers Wing Tai 1.69 1.97 Hold RNAV (15% discount)
10/26/10 DBS Vickers Wing Tai 1.79 2.05 Hold RNAV (15% discount)

02/05/10 DMG & Partners Wing Tai 1.76 2.15 Buy RNAV (10% premium)
03/15/10 DMG & Partners Wing Tai 1.77 2.15 Buy
04/01/10 DMG & Partners Wing Tai 1.9 2.15 Buy
04/06/10 DMG & Partners Wing Tai 1.91 2.15 Buy RNAV (10% premium)
04/16/10 DMG & Partners Wing Tai 1.92 2.15 Buy
05/14/10 DMG & Partners Wing Tai 1.76 2.15 Buy RNAV (10% premium)
06/01/10 DMG & Partners Wing Tai 1.52 2.15 Buy
08/23/10 DMG & Partners Wing Tai 1.69 2.08 Buy RNAV
10/08/10 DMG & Partners Wing Tai 1.74 2.18 Buy RNAV
10/28/10 DMG & Partners Wing Tai 1.76 2.2 Buy RNAV
11/24/10 DMG & Partners Wing Tai 1.78 2.2 Buy

07/30/10 JP Morgan Wing Tai 1.77 2.2 Buy RNAV

02/08/10 Kim Eng Wing Tai 1.76 2.2 Buy RNAV (10% discount)
03/17/10 Kim Eng Wing Tai 1.82 2.28 Buy RNAV (10% discount)
05/14/10 Kim Eng Wing Tai 1.76 2.5 Buy RNAV (10% discount)
08/24/10 Kim Eng Wing Tai 1.69 2.5 Buy RNAV (10% discount)
10/08/10 Kim Eng Wing Tai 1.74 2.5 Buy RNAV (10% discount)
10/26/10 Kim Eng Wing Tai 1.79 2.55 Buy

11/16/10 OCBC Wing Tai 1.83 2.05 Hold

Wilmar - Analysts are feeling ambivalence about this stock.

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

03/02/10 AmFraser Wilmar 6.67 6.55 Hold PER18x
04/08/10 AmFraser Wilmar 6.93 7.31 Hold
05/06/10 AmFraser Wilmar 6.72 7.3 Hold
05/25/10 AmFraser Wilmar 5.69 6.55 Hold
05/31/10 AmFraser Wilmar 5.78 6.55 Hold

04/19/10 CIMB Wilmar 6.93 8.4 Outperform
05/12/10 CIMB Wilmar 6.54 8.4 Outperform PER20x
05/13/10 CIMB Wilmar 6.52 8.4 Outperform PER20x
05/14/10 CIMB Wilmar 6.42 8.4 Outperform PER20x
05/18/10 CIMB Wilmar 6.35 8.4 Outperform
05/19/10 CIMB Wilmar 6.19 7.85 Outperform PER19x
05/21/10 CIMB Wilmar 5.5 7.85 Outperform PER19x
06/25/10 CIMB Wilmar 5.9 6.5 Neutral PER16x
07/07/10 CIMB Wilmar 5.95 6.5 Neutral PER16x
07/22/10 CIMB Wilmar 6.14 6.5 Neutral PER16x
08/13/10 CIMB Wilmar 6.27 6.5 Neutral PER16x
08/16/10 CIMB Wilmar 6.13 6.5 Neutral PER16x
09/13/10 CIMB Wilmar 6.36 6.5 Neutral PER16x
10/14/10 CIMB Wilmar 6.15 7.08 Outperform PER16x
11/10/10 CIMB Wilmar 6.88 7.08 Outperform Re-rating
11/11/10 CIMB Wilmar 6.51 6.7 Neutral PER16x

07/05/10 Citigroup Wilmar 5.95 6.16 Sell Sum of parts
08/17/10 Citigroup Wilmar 6.11 6.33 Sell

11/11/10 CLSA Wilmar 6.51 6.2 Underperform

01/05/10 DBS Vickers Wilmar 6.43 7.3 Buy
03/01/10 DBS Vickers Wilmar 6.67 8 Buy DCF
04/08/10 DBS Vickers Wilmar 6.93 8 Buy
05/19/10 DBS Vickers Wilmar 6.19 8.3 Buy
05/21/10 DBS Vickers Wilmar 5.5 8.3 Buy
07/06/10 DBS Vickers Wilmar 5.95 8.3 Buy
10/26/10 DBS Vickers Wilmar 6.47 6.9 Hold

11/11/10 DIR Wilmar 6.51 7.49 Outperform 6-month target

03/02/10 DMG & Partners Wilmar 6.67 7.35 Buy PER18.8x
05/14/10 DMG & Partners Wilmar 6.52 7.35 Buy
05/20/10 DMG & Partners Wilmar 5.76 7.35 Buy
07/07/10 DMG & Partners Wilmar 5.95 7.35 Buy
11/10/10 DMG & Partners Wilmar 6.88 7.12 Buy

12/08/10 Goldman Sachs Wilmar 6.04 6.25 Neutral

06/02/10 JP Morgan Wilmar 5.56 6.65 Overweight

01/15/10 Kim Eng Wilmar 7.04 8.1 Buy Sum of parts
03/02/10 Kim Eng Wilmar 6.67 8.1 Buy PER20x
05/13/10 Kim Eng Wilmar 6.52 8.1 Buy PER20x
05/20/10 Kim Eng Wilmar 5.76 7.2 Buy PER18x
07/22/10 Kim Eng Wilmar 6.14 7.2 Buy
11/11/10 Kim Eng Wilmar 6.51 7.2 Buy
11/19/10 Kim Eng Wilmar 6.25 7.2 Buy
12/09/10 Lim & Tan Wilmar 5.97 0 Neutral

03/02/10 OCBC Wilmar 6.67 8.23 Buy PER20x
08/16/10 OCBC Wilmar 6.13 7.25 Buy PER18x
09/02/10 OCBC Wilmar 6.26 7.25 Buy
10/04/10 OCBC Wilmar 5.97 7.25 Buy
11/11/10 OCBC Wilmar 6.51 7.04 Hold PER18x

06/17/10 phillip Wilmar 5.89 6.86 Buy DCF
07/08/10 phillip Wilmar 6 6.86 Buy DCF
08/16/10 phillip Wilmar 6.13 6.86 Buy
10/22/10 phillip Wilmar 6.39 7.03 Buy DCF
11/11/10 phillip Wilmar 6.51 7.08 Hold

08/18/10 UBS Wilmar 6.13 8 Buy

Wheelock Properties - Buy calls from analysts.

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

02/24/10 AmFraser Wheelock Properties 1.87 2.08 Hold RNAV (10% discount)
03/15/10 AmFraser Wheelock Properties 1.92 2.1 Hold RNAV
05/17/10 AmFraser Wheelock Properties 1.87 2.1 Hold RNAV
08/30/10 AmFraser Wheelock Properties 1.8 2.09 Buy

04/16/10 CIMB Wheelock Properties 1.96 2.19 Neutral
04/20/10 CIMB Wheelock Properties 1.99 2.39 Outperform RNAV
05/10/10 CIMB Wheelock Properties 1.79 2.39 Outperform
05/17/10 CIMB Wheelock Properties 1.87 2.39 Outperform RNAV
05/18/10 CIMB Wheelock Properties 1.87 2.39 Outperform
06/14/10 CIMB Wheelock Properties 1.88 2.39 Outperform
08/16/10 CIMB Wheelock Properties 1.79 2.24 Outperform RNAV (10% discount)
11/10/10 CIMB Wheelock Properties 1.99 2.37 Outperform RNAV (10% discount)

02/22/10 DBS Vickers Wheelock Properties 1.9 2.14 Buy
02/24/10 DBS Vickers Wheelock Properties 1.87 2.24 Buy RNAV (10% discount)
03/08/10 DBS Vickers Wheelock Properties 1.91 2.24 Buy
03/30/10 DBS Vickers Wheelock Properties 1.9 2.24 Buy
05/17/10 DBS Vickers Wheelock Properties 1.87 2.28 Buy RNAV (10% discount)
05/18/10 DBS Vickers Wheelock Properties 1.87 2.28 Buy
06/16/10 DBS Vickers Wheelock Properties 1.86 2.28 Buy
07/16/10 DBS Vickers Wheelock Properties 1.92 2.28 Buy
08/17/10 DBS Vickers Wheelock Properties 1.78 2.28 Buy
11/10/10 DBS Vickers Wheelock Properties 1.99 2.32 Buy RNAV (10% discount)

08/16/10 Lim & Tan Wheelock Properties 1.79 0 Hold/Sell $2

11/16/10 OCBC Wheelock Properties 2 2.32 Buy

Baltic Dry Index (BDI) - 2179

Quote:

The index added 11 points, or 0.5 per cent, to 2,179 points on Monday, according to the London- based Baltic Exchange.

End Quote.

Wee Hur - Downgraded by Phillip.

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

03/12/10 phillip Wee Hur 0.485 0.66 Buy PER11x
03/24/10 phillip Wee Hur 0.545 0.68 Buy PER11x
05/14/10 phillip Wee Hur 0.505 0.62 Buy
05/14/10 phillip Wee Hur 0.505 0.62 Buy PER11x
08/16/10 phillip Wee Hur 0.48 0.56 Buy PER11x
11/11/10 phillip Wee Hur 0.565 0.56 Hold PER11x

Viking Offshore & Marine - Buy call from OCBC.

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

04/29/10 OCBC Viking Offshore & Marine 0.215 0.31 Buy Sum of parts
05/06/10 OCBC Viking Offshore & Marine 0.2 0.31 Buy
05/20/10 OCBC Viking Offshore & Marine 0.205 0.31 Buy
06/09/10 OCBC Viking Offshore & Marine 0.18 0.31 Buy
07/08/10 OCBC Viking Offshore & Marine 0.2 0.31 Buy
07/15/10 OCBC Viking Offshore & Marine 0.2 0.31 Buy
07/20/10 OCBC Viking Offshore & Marine 0.21 0.32 Buy
08/03/10 OCBC Viking Offshore & Marine 0.215 0.32 Buy
09/02/10 OCBC Viking Offshore & Marine 0.195 0.32 Buy
09/13/10 OCBC Viking Offshore & Marine 0.205 0.31 Buy
09/27/10 OCBC Viking Offshore & Marine 0.215 0.32 Buy
10/04/10 OCBC Viking Offshore & Marine 0.2 0.32 Buy
10/19/10 OCBC Viking Offshore & Marine 0.2 0.32 Buy
11/25/10 OCBC Viking Offshore & Marine 0.19 0.32 Buy
12/02/10 OCBC Viking Offshore & Marine 0.21 0.32 Buy

Venture - Buy calls from analysts.

09/30/10 BNP Paribas Venture 9.37 10.93 Buy

03/11/10 CIMB Venture 8.48 9.36 Outperform
04/30/10 CIMB Venture 9.86 10.54 Neutral PER14x
05/18/10 CIMB Venture 8.94 10.54 Outperform
08/03/10 CIMB Venture 9.12 10.54 Outperform PER14x
08/06/10 CIMB Venture 9.21 10.91 Outperform PER14x
09/29/10 CIMB Venture 9.24 10.91 Outperform PER14x
10/28/10 CIMB Venture 9.09 11.98 Outperform PER14x

03/01/10 DBS Vickers Venture 8.44 9.8 Buy PER15x
07/15/10 DBS Vickers Venture 9.14 10.7 Buy PER15x
08/06/10 DBS Vickers Venture 9.21 11.8 Buy PER15x
09/27/10 DBS Vickers Venture 9.12 11.8 Buy
10/22/10 DBS Vickers Venture 9.23 11.8 Buy
11/01/10 DBS Vickers Venture 9.06 11.8 Buy PER15x

03/02/10 DMG & Partners Venture 8.44 8.61 Neutral PER14.8x
04/30/10 DMG & Partners Venture 9.86 9.31 Neutral PER13.6x
08/06/10 DMG & Partners Venture 9.21 9.31 Neutral PER13.6x

03/01/10 Kim Eng Venture 8.44 8.47 Hold PER12x
04/30/10 Kim Eng Venture 9.86 11.3 Buy PER17x
08/06/10 Kim Eng Venture 9.21 11.3 Buy PER13x
09/17/10 Kim Eng Venture 8.77 11.3 Buy PER17x
10/29/10 Kim Eng Venture 8.97 11.3 Buy PER13x
11/01/10 Kim Eng Venture 9.06 11.3 Buy

03/01/10 Lim & Tan Venture 8.44 0 Sell
04/30/10 Lim & Tan Venture 9.86 0 Sell
08/06/10 Lim & Tan Venture 9.21 8 Sell Buy at $8, Div Yield 6.25%
09/01/10 Lim & Tan Venture 8.7 0 Buy Div Yield 6.25%

03/01/10 OCBC Venture 8.44 9.03 Buy PER13x
04/08/10 OCBC Venture 9.28 9.93 Buy PER14x
06/10/10 OCBC Venture 8.62 10.73 Buy PER15x
08/06/10 OCBC Venture 9.21 10.73 Buy PER15x
09/02/10 OCBC Venture 8.7 10.73 Buy
11/01/10 OCBC Venture 9.06 10.73 Buy PER15x
12/07/10 OCBC Venture 9.08 12.1 Buy PER15x