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Thursday, March 3, 2011

STX Pan Ocean - Nobody likes this shipper.

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

11/15/10 CIMB STX Pan Ocean 14.62 13.85 Underperform
01/25/11 CIMB STX Pan Ocean 13 13.2 Underperform
02/21/11 CIMB STX Pan Ocean 12 11.9 Underperform

12/21/10 Goldman Sachs STX Pan Ocean 13.16 11.3 Neutral

12/08/10 HSBC STX Pan Ocean 13.28 14.9 Neutral

Wednesday, March 2, 2011

Baltic Dry Index (BDI) - 1251

Quote:

The index rose six points to 1,251 points in a second session of modest gains, after falling in the four previous sessions.

End Quote.

STX OSV - Mostly buy calls from analysts.

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

01/14/11 Credit Suisse STX OSV 1.23 1.55 Outperform

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

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

Straits Asia - Mixed calls for this commodity (coal) company.

08/16/10 CIMB Straits Asia 2.08 1.95 Underperform DCF
11/03/10 CIMB Straits Asia 2.32 2.01 Underperform DCF
12/10/10 CIMB Straits Asia 2.52 2.27 Underperform DCF
01/28/11 CIMB Straits Asia 2.66 2.27 Underperform DCF
02/22/11 CIMB Straits Asia 2.42 2.7 Outperform DCF (15% premium)

11/23/10 Credit Suisse Straits Asia 2.53 3.1 Outperform

10/08/10 DBS Vickers Straits Asia 2.34 2.3 Hold DCF
11/04/10 DBS Vickers Straits Asia 2.33 2.3 Hold DCF

06/17/10 DMG & Partners Straits Asia 2.04 2.08 Neutral DCF, PER11.4x
08/16/10 DMG & Partners Straits Asia 2.08 2.08 Neutral DCF
08/23/10 DMG & Partners Straits Asia 2.13 2.1 Neutral DCF, PER11.5x
11/03/10 DMG & Partners Straits Asia 2.32 2.1 Neutral DCF, PER11.5x
11/08/10 DMG & Partners Straits Asia 2.35 2.1 Neutral DCF, PER11.5x
12/08/10 DMG & Partners Straits Asia 2.69 2.49 Neutral PER16.3x
01/13/11 DMG & Partners Straits Asia 2.88 2.49 Sell DCF, PER15.4x
02/22/11 DMG & Partners Straits Asia 2.42 2.49 Neutral DCF, PER15.4x

08/02/10 Merrill Lynch Straits Asia 2.14 2.87 Buy DCF

11/04/10 Nomura Straits Asia 2.33 2.8 Buy
12/06/10 Nomura Straits Asia 2.69 2.8 Reduce

06/03/10 OCBC Straits Asia 1.85 1.82 Hold DCF
06/15/10 OCBC Straits Asia 2.01 1.82 Hold
07/09/10 OCBC Straits Asia 1.95 1.85 Hold DCF
08/18/10 OCBC Straits Asia 2.04 2.08 Hold
09/08/10 OCBC Straits Asia 2.1 2.08 Hold
10/06/10 OCBC Straits Asia 2.33 2.24 Hold
11/30/10 OCBC Straits Asia 2.64 3.13 Buy
12/14/10 OCBC Straits Asia 2.5 3.13 Buy
01/11/11 OCBC Straits Asia 2.59 2.89 Buy
02/22/11 OCBC Straits Asia 2.42 2.74 Buy

Stats Chippac - Downgraded by Lim & Tan.

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

08/02/10 Lim & Tan STATS Chippac 1.15 0 Buy
08/05/10 Lim & Tan STATS Chippac 1.23 0 Buy
10/29/10 Lim & Tan STATS Chippac 0.985 0 Sell
01/28/11 Lim & Tan STATS Chippac 0.885 0 Sell

Tuesday, March 1, 2011

Starhub - Mixed calls by analysts for telecommunication sector.

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

08/06/10 AmFraser Starhub 2.33 1.88 Sell

08/06/10 CIMB Starhub 2.33 2.14 Underperform DCF
08/30/10 CIMB Starhub 2.38 2.14 Underperform
09/03/10 CIMB Starhub 2.52 2.14 Underperform DCF
09/13/10 CIMB Starhub 2.47 2.14 Underperform
10/18/10 CIMB Starhub 2.62 2.24 Underperform DCF
11/10/10 CIMB Starhub 2.8 2.5 Underperform DCF

07/28/10 DBS Vickers Starhub 2.31 2.2 Fully Valued DCF
07/30/10 DBS Vickers Starhub 2.35 2.2 Fully Valued
08/06/10 DBS Vickers Starhub 2.33 2.2 Fully Valued DCF
08/18/10 DBS Vickers Starhub 2.38 2.2 Fully Valued
09/01/10 DBS Vickers Starhub 2.46 2.2 Fully Valued
09/03/10 DBS Vickers Starhub 2.52 2.2 Fully Valued
09/07/10 DBS Vickers Starhub 2.49 2.2 Fully Valued
11/04/10 DBS Vickers Starhub 2.76 2.2 Sell DCF
01/03/11 DBS Vickers Starhub 2.63 2.2 Sell

07/22/10 DMG & Partners Starhub 2.32 2.15 Neutral
08/06/10 DMG & Partners Starhub 2.32 2.15 Neutral
09/01/10 DMG & Partners Starhub 2.46 2.15 Neutral
09/02/10 DMG & Partners Starhub 2.46 2.15 Neutral
09/07/10 DMG & Partners Starhub 2.49 2.15 Neutral
11/10/10 DMG & Partners Starhub 2.8 2.85 Neutral DCF
01/17/11 DMG & Partners Starhub 2.57 2.85 Neutral
01/26/11 DMG & Partners Starhub 2.53 2.85 Neutral
02/14/11 DMG & Partners Starhub 2.61 2.88 Neutral DCF

08/06/10 Kim Eng Starhub 2.33 2.78 Buy PER15x
10/06/10 Kim Eng Starhub 2.6 2.78 Buy
11/10/10 Kim Eng Starhub 2.8 3.27 Buy Yield 5.5%
02/14/11 Kim Eng Starhub 2.61 3.08 Buy Div Yield 7.7%

02/14/11 Morgan Stanley Starhub 2.61 2.7 Equalweight

06/16/10 OCBC Starhub 2.24 2.32 Buy Div Yield 8.8%
07/06/10 OCBC Starhub 2.29 2.32 Buy
07/28/10 OCBC Starhub 2.31 2.32 Buy Div Yield 8.8%
09/01/10 OCBC Starhub 2.46 2.41 Buy Div Yield 7.3%
10/11/10 OCBC Starhub 2.57 2.58 Buy Div Yield 7%
11/29/10 OCBC Starhub 2.69 3.02 Buy DCF
01/04/11 OCBC Starhub 2.63 3.02 Buy Div Yield 7.6%
02/01/11 OCBC Starhub 2.55 3.02 Buy DCF
02/14/11 OCBC Starhub 2.61 3.02 Buy DCF

08/06/10 phillip Starhub 2.33 2.16 Hold DCF
09/03/10 phillip Starhub 2.52 2.41 Hold
11/10/10 phillip Starhub 2.8 2.63 Hold

02/14/11 UOB Kay Hian Starhub 2.61 3.1 Buy

Starhill - Twinkle twinkle little stars, how I wonder what you are......

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

04/19/10 DBS Vickers Starhill 0.595 0.73 Buy
07/27/10 DBS Vickers Starhill 0.59 0.73 Buy
10/27/10 DBS Vickers Starhill 0.61 0.76 Buy
01/27/11 DBS Vickers Starhill 0.65 0.78 Buy

11/25/10 Kim Eng Starhill 0.615 0.8 Buy DDM
01/11/11 Kim Eng Starhill 0.63 0.8 Buy DDM, Div Yield 6.7%
01/27/11 Kim Eng Starhill 0.635 0.8 Buy DDM

07/02/10 OCBC Starhill 0.545 0.65 Buy DDM
07/12/10 OCBC Starhill 0.57 0.65 Buy
07/27/10 OCBC Starhill 0.59 0.65 Buy DDM
09/02/10 OCBC Starhill 0.575 0.65 Buy
09/15/10 OCBC Starhill 0.585 0.65 Buy DDM
09/30/10 OCBC Starhill 0.585 0.65 Buy
10/08/10 OCBC Starhill 0.595 0.65 Buy
11/09/10 OCBC Starhill 0.62 0.66 Buy Under Review
12/10/10 OCBC Starhill 0.62 0.66 Buy
01/27/11 OCBC Starhill 0.65 0.74 Buy

Stamford Land - Buy call from Lim & Tan.

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

07/08/10 Lim & Tan Stamford Land 0.495 0 Buy
09/14/10 Lim & Tan Stamford Land 0.48 0 Buy
09/21/10 Lim & Tan Stamford Land 0.49 0 Buy
09/30/10 Lim & Tan Stamford Land 0.525 0 Buy
02/17/11 Lim & Tan Stamford Land 0.625 0 Buy

Monday, February 28, 2011

Baltic Dry Index (BDI) - 1245

Quote:

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


End Quote.

ST Engineering - 5 buy calls & 1 hold call.

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

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

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

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

08/04/10 Macquarie ST Engineering 3.26 3.8 Outperform

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

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

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

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

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

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

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

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

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

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

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

Sound Global (Epure) - Mixed calls by analysts.

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

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

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

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

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

Sunday, February 27, 2011

Soilbuild - Accept the offer!

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

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

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

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

08/03/10 AmFraser SMRT 2.1 1.99 Hold

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

07/30/10 Citigroup SMRT 2.1 1.9 Sell

12/15/10 CLSA SMRT 2.04 2.05 Underperform

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

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

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

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

01/03/11 Macquarie SMRT 2.03 1.75 Underperform

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

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

Sinotel - Hold calls by analysts.

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

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

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

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

Saturday, February 26, 2011

Sinopipe - Increase your holdings for this stock.

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

01/19/11 SIAS Sinopipe 0.26 0.4 Increase

Sinomem - CIMB loved this stock!

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

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

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

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

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

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

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

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

Friday, February 25, 2011

Singtel - Analysts have reservations for this telecommunication company.

08/13/10 AmFraser Singtel 2.99 2.82 Hold

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

02/25/11 Citigroup Singtel 2.86 3.36 Buy

09/17/10 Credit Suisse Singtel 3.09 3.84 Outperform

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

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

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

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

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

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

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

01/13/11 UBS Singtel 3.09 3.53 Buy

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

Singapore Shipping - Lim & Tan loved this stock.

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

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