Think Environment - Sell by DMG but Buy by SIAS.

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

12/17/10	DMG & Partners	Think Environment	0.66	0.135	Sell	PATMI 14x
12/29/10	SIAS	Think Environment	0.72	0.9	Increase

Telechoice - Buy call from NRA.

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

03/04/11	NRA	Telechoice	0.26	0.29	Overweight
05/16/11	NRA	Telechoice	0.24	0.28	Overweight	PER8x

Tee International - Buy call from NRA.

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

01/05/11	NRA	Tee International	0.25	0.38	Buy	Sum of parts
01/10/11	NRA	Tee International	0.31	0.38	Buy	Sum of parts

Baltic Dry Index (BDI) - 1291

Quote:

The index fell 1.16 per cent, or 15 points, to 1,291 points. Traders said dry
freight rates continued to be under downward pressure as a large amount of
new vessels was entering the market.

End quote.

Technics Oil & Gas - Buy call from AmFraser.

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

04/29/11	AmFraser	Technics oil & gas	0.97	1.2	Buy
05/09/11	AmFraser	Technics oil & gas	0.97	1.22	Buy	PER11.74x

Tat Hong - Nobody likes cranes operator now.

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

02/15/11	CIMB	Tat Hong	0.915	1.02	Neutral	PER10x
11/18/10	CLSA	Tat Hong	0.99	1.06	Underperform
02/16/11	Credit Suisse	Tat Hong	0.875	0.85	Underperform
12/01/10	DBS Vickers	Tat Hong	0.94	1.08	Hold	PER12x
02/15/11	DBS Vickers	Tat Hong	0.915	0.83	Fully Valued	PER12x
03/25/11	DBS Vickers	Tat Hong	0.845	0.83	Fully Valued	PER12x
01/18/11	OCBC	Tat Hong	0.95	0.99	Hold
01/19/11	OCBC	Tat Hong	0.945	0.99	Hold
02/15/11	OCBC	Tat Hong	0.915	0.85	Hold

DTAC (TAC) - Mixed calls from analysts.

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

02/08/11 CIMB TAC 41 46 Neutral DCF

04/29/11 Kim Eng TAC 47.75 60 Buy Up from 57 Baht

Synear - Hold call by Lim & Tan.

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

08/03/10 Lim & Tan Synear 0.265 0 Hold

Swiber - Mixed calls from analysts.

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

03/02/11	CIMB	Swiber	0.805	1.01	Outperform	PER12x
03/04/11	CIMB	Swiber	0.81	1.01	Outperform
03/11/11	CIMB	Swiber	0.81	1.01	Outperform	PER12x
03/23/11	CIMB	Swiber	0.78	1.01	Outperform	PER12x
05/16/11	CIMB	Swiber	0.805	0.98	Outperform	PER12x
01/03/11	DBS Vickers	Swiber	1	1.28	Buy
03/03/11	DBS Vickers	Swiber	0.79	0.83	Hold	PER10x
04/19/11	DBS Vickers	Swiber	0.84	0.83	Hold
03/02/11	DMG & Partners	Swiber	0.805	1.25	Under Review	PER10x
03/03/11	DMG & Partners	Swiber	0.79	0.85	Neutral	PER10x
03/10/11	DMG & Partners	Swiber	0.805	0.85	Neutral	PB1x
03/11/11	DMG & Partners	Swiber	0.81	0.85	Neutral	PB1x
03/23/11	DMG & Partners	Swiber	0.785	0.85	Neutral	PER13.7x, PB0.9x
03/24/11	DMG & Partners	Swiber	0.81	0.85	Neutral	PER13.7x, PB0.9x
05/16/11	DMG & Partners	Swiber	0.805	0.87	Neutral	PB1x
03/10/11	DnB Nor	Swiber	0.81	1.4	Buy	NAV
05/05/11	Dnb Nor	Swiber	0.8	1.3	Buy	NAV 1.28
12/02/10	OCBC	Swiber	0.985	1.33	Buy
03/02/11	OCBC	Swiber	0.805	1.33	Under Review
03/03/11	OCBC	Swiber	0.79	0.94	Buy	PER11x
03/04/11	OCBC	Swiber	0.81	0.94	Buy
03/11/11	OCBC	Swiber	0.81	0.94	Buy
03/15/11	OCBC	Swiber	0.8	0.94	Buy
03/24/11	OCBC	Swiber	0.81	0.94	Buy
04/14/11	OCBC	Swiber	0.89	0.94	Buy
05/16/11	OCBC	Swiber	0.805	0.88	Hold	PER11x