Suntec Reit - Mostly hold calls.

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

11/30/10	CIMB	Suntec Reit	1.43	1.63	Outperform	DDM
01/05/11	CIMB	Suntec Reit	1.51	1.63	Outperform	DDM
04/25/11	CIMB	Suntec Reit	1.52	1.61	Neutral	DDM
01/24/11	DBS Vickers	Suntec Reit	1.58	1.69	Buy
03/09/11	DBS Vickers	Suntec Reit	1.55	1.69	Buy
03/23/11	DBS Vickers	Suntec Reit	1.5	1.69	Buy
04/13/11	DBS Vickers	Suntec Reit	1.52	1.66	Buy
01/06/11	DMG & Partners	Suntec Reit	1.53	1.71	Buy
01/24/11	DMG & Partners	Suntec Reit	1.58	1.76	Buy
04/13/11	DMG & Partners	Suntec Reit	1.52	1.76	Buy
04/25/11	DMG & Partners	Suntec Reit	1.52	1.76	Buy	DDM
01/13/11	JP Morgan	Suntec Reit	1.57	1.6	Neutral
12/10/10	OCBC	Suntec Reit	1.49	1.5	Hold	DCF
01/06/11	OCBC	Suntec Reit	1.53	1.55	Neutral
01/24/11	OCBC	Suntec Reit	1.58	1.6	Hold
02/10/11	OCBC	Suntec Reit	1.58	1.6	Hold
03/25/11	OCBC	Suntec Reit	1.51	1.6	Hold
12/01/10	phillip	Suntec Reit	1.42	1.37	Hold

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 dated 13/05/11 above indicated fund outflows still persist in US, HK & SG as the average trading volumes are still declining.  This phenomenon usually is a precursor to a precipitation in the future.  Buyers beware!

Sunpower - Buy call from Phillip.

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

12/03/10	phillip	Sunpower	0.31	0.57	Buy	PB2.04x
12/15/10	phillip	Sunpower	0.37	0.57	Buy
02/25/11	phillip	Sunpower	0.395	0.79	Buy	PATMI, PER6.5x

Sunmart - Mixed call from analysts.

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

12/08/10	SIAS	Sunmart	0.21	0.33	Buy	FCFE Model
01/19/11	NRA	Sunmart	0.23	0.29	Buy	PER11.2x
03/09/11	NRA	Sunmart	0.23	0.22	Hold	PER8x
03/18/11	NRA	Sunmart	0.22	0.22	Hold	PER8x

STX Pan Ocean - Lousy Shipper!

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

12/08/10	HSBC	STX Pan Ocean	13.28	14.9	Neutral
12/21/10	Goldman Sachs	STX Pan Ocean	13.16	11.3	Neutral
01/25/11	CIMB	STX Pan Ocean	13	13.2	Underperform	Oversupply
02/21/11	CIMB	STX Pan Ocean	12	11.9	Underperform	Sum of parts (10% discount)
03/16/11	CIMB	STX Pan Ocean	10.7	11.9	Underperform
05/13/11	CIMB	STX Pan Ocean	10	11.9	Underperform	Sum of parts (10% discount)

STX OSV - Mostly buy calls except neutral call from Lim & Tan.

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

01/11/11	CIMB	STX OSV	1.15	1.6	Outperform	PER11x
02/16/11	CIMB	STX OSV	1.19	1.6	Outperform	PER11x
03/28/11	CIMB	STX OSV	1.15	1.6	Outperform	PER11x
04/08/11	CIMB	STX OSV	1.29	1.6	Outperform	PER11x
04/11/11	CIMB	STX OSV	1.31	1.6	Outperform
04/25/11	CIMB	STX OSV	1.22	1.6	Neutral
05/10/11	CIMB	STX OSV	1.16	1.7	Outperform	PER11x
01/14/11	Credit Suisse	STX OSV	1.23	1.55	Outperform
05/10/11	Credit Suisse	STX OSV	1.16	1.8	Overweight
01/10/11	DMG & Partners	STX OSV	1.2	1.56	Buy	PER12x
01/11/11	DMG & Partners	STX OSV	1.15	1.56	Outperform
02/15/11	DMG & Partners	STX OSV	1.19	1.75	Buy	PER12x
02/16/11	DMG & Partners	STX OSV	1.19	1.75	Buy	PER12x
03/28/11	DMG & Partners	STX OSV	1.15	1.75	Buy	PER12x
04/01/11	DMG & Partners	STX OSV	1.19	1.75	Buy	PER12x
04/04/11	DMG & Partners	STX OSV	1.25	1.75	Buy	PER12x
04/11/11	DMG & Partners	STX OSV	1.29	1.75	Buy	PER12x
05/10/11	DMG & Partners	STX OSV	1.16	1.89	Buy	PER11x
03/10/11	DnB Nor	STX OSV	1.12	1.8	Buy	DCF
05/05/11	DnB Nor	STX OSV	1.12	1.8	Buy	DCF
12/15/10	Goldman Sachs	STX OSV	1.1	1.54	Buy	PB2.9x
12/02/10	Lim & Tan	STX OSV	0.81	0	Neutral