Date/Research House/Last Done/Target Price/Call/Valuation Method
02/04/10 CIMB Sound Global 0.9 1.28 Outperform PER20x
03/01/10 CIMB Sound Global 0.81 1.33 Outperform PER20x
04/09/10 CIMB Sound Global 0.99 1.33 Outperform PER20x
04/30/10 CIMB Sound Global 0.91 1.33 Outperform
05/17/10 CIMB Sound Global 0.81 1.33 Outperform PER20x
01/04/10 DBS Vickers Sound Global 0.69 0.71 Buy
01/07/10 DBS Vickers Sound Global 0.825 1.1 Buy PER29x
01/08/10 DBS Vickers Sound Global 0.825 1.1 Buy
02/02/10 DBS Vickers Sound Global 0.905 1.2 Buy PER26x
05/18/10 DMG & Partners Sound Global 0.81 1.04 Buy PER16x
05/24/10 DMG & Partners Sound Global 0.83 1.04 Buy PER16x
05/31/10 DMG & Partners Sound Global 0.78 1.04 Buy
02/08/10 phillip Sound Global 0.83 1.08 Buy DCF
03/04/10 phillip Sound Global 0.86 1.1 Buy DCF
05/17/10 phillip Sound Global 0.81 1.1 Buy DCF
Monday, May 31, 2010
Yanlord - The fallen angel of china property stock
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
05/14/10 CIMB Yanlord 1.64 1.83 Neutral RNAV (35% discount)
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)
05/14/10 CIMB Yanlord 1.64 1.83 Neutral RNAV (35% discount)
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)
Saturday, May 29, 2010
ST Engineering - A defensive stock that is only loved by DBS vickers
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
02/19/10 CIMB ST Engineering 3.19 2.98 Underperform PER20.1x
04/01/10 CIMB ST Engineering 3.19 3.62 Outperform PER18.5x
05/05/10 CIMB ST Engineering 3.13 3.62 Outperform Blended (PER, DCF, Div Yield)
05/18/10 CIMB ST Engineering 3.22 3.62 Outperform
01/06/10 DBS Vickers ST Engineering 3.27 3.8 Buy PER23x
01/18/10 DBS Vickers ST Engineering 3.22 3.8 Buy
02/19/10 DBS Vickers ST Engineering 3.19 3.6 Buy
05/05/10 DBS Vickers ST Engineering 3.13 3.55 Buy
05/05/10 DMG & Partners ST Engineering 3.13 3.15 Hold PER19.9x
02/19/10 Kim Eng ST Engineering 3.19 3.15 Hold PER19x
04/01/10 Kim Eng ST Engineering 3.19 3.15 Hold PER19.3x
04/09/10 Kim Eng ST Engineering 3.28 3.15 Hold PER15x
02/19/10 CIMB ST Engineering 3.19 2.98 Underperform PER20.1x
04/01/10 CIMB ST Engineering 3.19 3.62 Outperform PER18.5x
05/05/10 CIMB ST Engineering 3.13 3.62 Outperform Blended (PER, DCF, Div Yield)
05/18/10 CIMB ST Engineering 3.22 3.62 Outperform
01/06/10 DBS Vickers ST Engineering 3.27 3.8 Buy PER23x
01/18/10 DBS Vickers ST Engineering 3.22 3.8 Buy
02/19/10 DBS Vickers ST Engineering 3.19 3.6 Buy
05/05/10 DBS Vickers ST Engineering 3.13 3.55 Buy
05/05/10 DMG & Partners ST Engineering 3.13 3.15 Hold PER19.9x
02/19/10 Kim Eng ST Engineering 3.19 3.15 Hold PER19x
04/01/10 Kim Eng ST Engineering 3.19 3.15 Hold PER19.3x
04/09/10 Kim Eng ST Engineering 3.28 3.15 Hold PER15x
Friday, May 28, 2010
Venture - conflicting signals from analysts
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
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
03/01/10 DBS Vickers Venture 8.44 9.8 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
03/01/10 Kim Eng Venture 8.44 8.47 Hold PER12x
04/30/10 Kim Eng Venture 9.86 11.3 Buy PER17x
03/01/10 Lim & Tan Venture 8.44 0 Sell
04/30/10 Lim & Tan Venture 9.86 0 Sell
03/01/10 OCBC Venture 8.44 9.03 Buy PER13x
04/08/10 OCBC Venture 9.28 9.93 Buy PER14x
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
03/01/10 DBS Vickers Venture 8.44 9.8 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
03/01/10 Kim Eng Venture 8.44 8.47 Hold PER12x
04/30/10 Kim Eng Venture 9.86 11.3 Buy PER17x
03/01/10 Lim & Tan Venture 8.44 0 Sell
04/30/10 Lim & Tan Venture 9.86 0 Sell
03/01/10 OCBC Venture 8.44 9.03 Buy PER13x
04/08/10 OCBC Venture 9.28 9.93 Buy PER14x
Dow Jones surged 284 points after China reiterated its support for Euro. Latest updates for EU.
This surge of 284 points is simply a knee-jerk reaction to China's commitment of Euro but I believe investors will sell into the rally and cause the Dow to fall next week again unless EU is able to stabilize the euro which I think will be difficult.
Spain has just approved a cut of over euro $20b on top of the euro $50b cut earlier in its austerity programme. French is also starting to tackle its deficit and Italy has just cut $24b of spendings.
Therefore, austerity programme equates to anti-growth measure which will definitely slow down the growth in EU.
Spain has just approved a cut of over euro $20b on top of the euro $50b cut earlier in its austerity programme. French is also starting to tackle its deficit and Italy has just cut $24b of spendings.
Therefore, austerity programme equates to anti-growth measure which will definitely slow down the growth in EU.
Ying Li - S-chip that analysts love!
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
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)
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)
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
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)
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)
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)
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
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)
Thursday, May 27, 2010
Wheelock Properties - A well-liked property stock by CIMB & DBS Vickers
Date/Research House/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
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
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
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
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
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
Wednesday, May 26, 2010
Is double dip recession coming?
The possibility of a double-dip recession is coming and real as the crisis in Europe is escalating. It is highly probable that Greece won't be able to service its debt and Spain is starting to show symptoms of struggling with its debts. Spain government has nationalized a bank and force 4 banks to consolidate to avoid getting into further trouble and god knows what will happen in portugal later. The austerity measures taken by EU are definitely anti-growth but this is being written off by overly optimistic economists and politicians.
US has disregarded Europe crisis as a major problem and will only cut back US growth by about1.2%. If Lehman Brothers could bring down the world, then Europe could be worse as it has more than 500m population and is a major trading partner in the world. By negating the impact of Europe, the world is making a major mistake and we'll pay a heavy price later.
US has disregarded Europe crisis as a major problem and will only cut back US growth by about1.2%. If Lehman Brothers could bring down the world, then Europe could be worse as it has more than 500m population and is a major trading partner in the world. By negating the impact of Europe, the world is making a major mistake and we'll pay a heavy price later.
Asia Travel - Not the time to travel? Nope, just not the time to buy yet.
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
02/12/10 DBS Vickers Asiatravel 0.695 0.82 Buy DCF
05/26/10 DBS Vickers Asiatravel 0.38 0.42 Hold DCF, PER14x
01/25/10 DMG & Partners Asiatravel 0.775 0.78 Neutral PER21.7x
04/09/10 DMG & Partners Asiatravel 0.585 0.61 Neutral DCF
04/12/10 DMG & Partners Asiatravel 0.605 0.61 Neutral DCF, PER23x
02/11/10 Kim Eng Asiatravel 0.715 0.9 Buy
02/12/10 DBS Vickers Asiatravel 0.695 0.82 Buy DCF
05/26/10 DBS Vickers Asiatravel 0.38 0.42 Hold DCF, PER14x
01/25/10 DMG & Partners Asiatravel 0.775 0.78 Neutral PER21.7x
04/09/10 DMG & Partners Asiatravel 0.585 0.61 Neutral DCF
04/12/10 DMG & Partners Asiatravel 0.605 0.61 Neutral DCF, PER23x
02/11/10 Kim Eng Asiatravel 0.715 0.9 Buy
Parkway Holdings - A well-liked stock for many research houses
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
02/24/10 AmFraser Parkway Holdings 2.93 3.55 Buy Sum of parts
02/02/10 CIMB Parkway Holdings 2.64 3.16 Outperform
03/12/10 CIMB Parkway Holdings 3.12 3.69 Outperform Sum of parts
05/18/10 CIMB Parkway Holdings 3.23 3.69 Outperform
02/24/10 DBS Vickers Parkway Holdings 2.93 2.71 Hold Sum of parts
03/15/10 DBS Vickers Parkway Holdings 3.11 2.71 Fully Valued Sum of parts, PER20x
05/13/10 DBS Vickers Parkway Holdings 3.35 2.8 Fully Valued Sum of parts
02/25/10 DMG & Partners Parkway Holdings 2.93 3.36 Buy PER22x
02/10/10 Kim Eng Parkway Holdings 2.8 3.55 Buy
02/24/10 Kim Eng Parkway Holdings 2.93 3.58 Buy PER16x
03/26/10 Kim Eng Parkway Holdings 3.38 4.06 Buy Sum of parts
05/13/10 Kim Eng Parkway Holdings 3.35 4.03 Buy Sum of parts
05/19/10 Kim Eng Parkway Holdings 3.38 4.03 Buy
02/11/10 Lim & Tan Parkway Holdings 2.77 0 Buy
03/12/10 Lim & Tan Parkway Holdings 3.12 0 Buy
03/29/10 Lim & Tan Parkway Holdings 3.46 0 Buy
02/24/10 OCBC Parkway Holdings 2.93 3.31 Buy Sum of parts
03/22/10 OCBC Parkway Holdings 3.16 3.53 Buy Sum of parts
05/13/10 OCBC Parkway Holdings 3.35 3.71 Buy Sum of parts
02/24/10 AmFraser Parkway Holdings 2.93 3.55 Buy Sum of parts
02/02/10 CIMB Parkway Holdings 2.64 3.16 Outperform
03/12/10 CIMB Parkway Holdings 3.12 3.69 Outperform Sum of parts
05/18/10 CIMB Parkway Holdings 3.23 3.69 Outperform
02/24/10 DBS Vickers Parkway Holdings 2.93 2.71 Hold Sum of parts
03/15/10 DBS Vickers Parkway Holdings 3.11 2.71 Fully Valued Sum of parts, PER20x
05/13/10 DBS Vickers Parkway Holdings 3.35 2.8 Fully Valued Sum of parts
02/25/10 DMG & Partners Parkway Holdings 2.93 3.36 Buy PER22x
02/10/10 Kim Eng Parkway Holdings 2.8 3.55 Buy
02/24/10 Kim Eng Parkway Holdings 2.93 3.58 Buy PER16x
03/26/10 Kim Eng Parkway Holdings 3.38 4.06 Buy Sum of parts
05/13/10 Kim Eng Parkway Holdings 3.35 4.03 Buy Sum of parts
05/19/10 Kim Eng Parkway Holdings 3.38 4.03 Buy
02/11/10 Lim & Tan Parkway Holdings 2.77 0 Buy
03/12/10 Lim & Tan Parkway Holdings 3.12 0 Buy
03/29/10 Lim & Tan Parkway Holdings 3.46 0 Buy
02/24/10 OCBC Parkway Holdings 2.93 3.31 Buy Sum of parts
03/22/10 OCBC Parkway Holdings 3.16 3.53 Buy Sum of parts
05/13/10 OCBC Parkway Holdings 3.35 3.71 Buy Sum of parts
Tuesday, May 25, 2010
STI - Straits Times Index, where is it heading next?
Ezra - The darling of offshore marine industry
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
01/15/10 CIMB Ezra 2.49 3.08 Outperform
01/20/10 CIMB Ezra 2.52 3.08 Outperform Sum of parts
02/08/10 CIMB Ezra 2.15 3.12 Outperform Sum of parts
04/12/10 CIMB Ezra 2.55 3.13 Outperform Sum of parts
05/14/10 CIMB Ezra 1.97 3.13 Outperform
05/18/10 CIMB Ezra 1.96 3.13 Outperform
01/04/10 DBS Vickers Ezra 2.19 2.77 Buy
01/15/10 DBS Vickers Ezra 2.49 2.77 Hold
02/08/10 DBS Vickers Ezra 2.15 2.75 Buy Sum of parts, PER13x
03/08/10 DBS Vickers Ezra 2.32 2.75 Buy
04/12/10 DBS Vickers Ezra 2.55 2.62 Hold
01/29/10 DMG & Partners Ezra 2.19 2.91 Buy Sum of parts, PER12.2x
04/01/10 DMG & Partners Ezra 2.44 2.96 Buy
04/23/10 DMG & Partners Ezra 2.17 2.8 Buy
05/03/10 DMG & Partners Ezra 2.09 2.8 Buy
05/06/10 DMG & Partners Ezra 2.03 2.8 Buy
01/20/10 OCBC Ezra 2.52 2.54 Hold
02/03/10 OCBC Ezra 2.07 2.54 Buy
03/05/10 OCBC Ezra 2.21 2.54 Buy
03/18/10 OCBC Ezra 2.48 2.88 Buy Blended PE
05/06/10 OCBC Ezra 2.03 2.81 Buy
05/20/10 OCBC Ezra 1.82 2.81 Buy
01/15/10 CIMB Ezra 2.49 3.08 Outperform
01/20/10 CIMB Ezra 2.52 3.08 Outperform Sum of parts
02/08/10 CIMB Ezra 2.15 3.12 Outperform Sum of parts
04/12/10 CIMB Ezra 2.55 3.13 Outperform Sum of parts
05/14/10 CIMB Ezra 1.97 3.13 Outperform
05/18/10 CIMB Ezra 1.96 3.13 Outperform
01/04/10 DBS Vickers Ezra 2.19 2.77 Buy
01/15/10 DBS Vickers Ezra 2.49 2.77 Hold
02/08/10 DBS Vickers Ezra 2.15 2.75 Buy Sum of parts, PER13x
03/08/10 DBS Vickers Ezra 2.32 2.75 Buy
04/12/10 DBS Vickers Ezra 2.55 2.62 Hold
01/29/10 DMG & Partners Ezra 2.19 2.91 Buy Sum of parts, PER12.2x
04/01/10 DMG & Partners Ezra 2.44 2.96 Buy
04/23/10 DMG & Partners Ezra 2.17 2.8 Buy
05/03/10 DMG & Partners Ezra 2.09 2.8 Buy
05/06/10 DMG & Partners Ezra 2.03 2.8 Buy
01/20/10 OCBC Ezra 2.52 2.54 Hold
02/03/10 OCBC Ezra 2.07 2.54 Buy
03/05/10 OCBC Ezra 2.21 2.54 Buy
03/18/10 OCBC Ezra 2.48 2.88 Buy Blended PE
05/06/10 OCBC Ezra 2.03 2.81 Buy
05/20/10 OCBC Ezra 1.82 2.81 Buy
Monday, May 24, 2010
Capitaland - Strong supporters from various research houses
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
01/19/10 AmFraser Capitaland 4.28 5.02 Buy RNAV
04/19/10 AmFraser Capitaland 4.1 4.82 Buy RNAV
04/16/10 CIMB Capitaland 4.16 4.81 Outperform
05/10/10 CIMB Capitaland 3.63 4.83 Outperform
05/18/10 CIMB Capitaland 3.64 4.83 Outperform
01/20/10 Citigroup Capitaland 4.38 4.48 Hold RNAV
01/06/10 DBS Vickers Capitaland 4.28 4.62 Buy RNAV (10% discount)
02/12/10 DBS Vickers Capitaland 3.86 5.08 Buy RNAV (10% discount)
02/22/10 DBS Vickers Capitaland 3.9 5.08 Buy
03/08/10 DBS Vickers Capitaland 3.9 5.08 Buy
04/08/10 DBS Vickers Capitaland 4.06 5.08 Buy
04/19/10 DBS Vickers Capitaland 4.1 5.03 Buy RNAV (10% discount)
04/23/10 DBS Vickers Capitaland 3.93 5.03 Buy
02/12/10 DMG & Partners Capitaland 3.75 5.18 Buy RNAV (20% premium)
03/15/10 DMG & Partners Capitaland 3.93 5.18 Buy
04/06/10 DMG & Partners Capitaland 4.06 5.18 Buy RNAV (20% premium)
04/16/10 DMG & Partners Capitaland 4.04 5.18 Buy
04/19/10 DMG & Partners Capitaland 4.1 4.27 Neutral RNAV
01/19/10 Kim Eng Capitaland 4.28 5.33 Buy RNAV (15% premium)
02/12/10 Kim Eng Capitaland 3.86 5.25 Buy RNAV (15% premium)
03/03/10 Kim Eng Capitaland 3.84 5.29 Buy RNAV (15% premium)
04/19/10 Kim Eng Capitaland 4.1 5.31 Buy PB1.15x
01/19/10 Lim & Tan Capitaland 4.28 0 Hold
03/19/10 Lim & Tan Capitaland 4.28 0 Hold
03/22/10 Lim & Tan Capitaland 4.28 0 Hold
01/20/10 Macquarie Capitaland 4.28 4.79 Buy RNAV (10% discount)
01/15/10 OCBC Capitaland 4.28 4.95 Buy RNAV
01/18/10 OCBC Capitaland 4.28 5.3 Buy
02/01/10 OCBC Capitaland 3.86 5.3 Buy
03/03/10 OCBC Capitaland 3.84 5 Buy
04/05/10 OCBC Capitaland 4.04 5 Buy
05/04/10 OCBC Capitaland 3.69 5.09 Buy RNAV
05/11/10 OCBC Capitaland 3.7 4.97 Buy RNAV
01/19/10 AmFraser Capitaland 4.28 5.02 Buy RNAV
04/19/10 AmFraser Capitaland 4.1 4.82 Buy RNAV
04/16/10 CIMB Capitaland 4.16 4.81 Outperform
05/10/10 CIMB Capitaland 3.63 4.83 Outperform
05/18/10 CIMB Capitaland 3.64 4.83 Outperform
01/20/10 Citigroup Capitaland 4.38 4.48 Hold RNAV
01/06/10 DBS Vickers Capitaland 4.28 4.62 Buy RNAV (10% discount)
02/12/10 DBS Vickers Capitaland 3.86 5.08 Buy RNAV (10% discount)
02/22/10 DBS Vickers Capitaland 3.9 5.08 Buy
03/08/10 DBS Vickers Capitaland 3.9 5.08 Buy
04/08/10 DBS Vickers Capitaland 4.06 5.08 Buy
04/19/10 DBS Vickers Capitaland 4.1 5.03 Buy RNAV (10% discount)
04/23/10 DBS Vickers Capitaland 3.93 5.03 Buy
02/12/10 DMG & Partners Capitaland 3.75 5.18 Buy RNAV (20% premium)
03/15/10 DMG & Partners Capitaland 3.93 5.18 Buy
04/06/10 DMG & Partners Capitaland 4.06 5.18 Buy RNAV (20% premium)
04/16/10 DMG & Partners Capitaland 4.04 5.18 Buy
04/19/10 DMG & Partners Capitaland 4.1 4.27 Neutral RNAV
01/19/10 Kim Eng Capitaland 4.28 5.33 Buy RNAV (15% premium)
02/12/10 Kim Eng Capitaland 3.86 5.25 Buy RNAV (15% premium)
03/03/10 Kim Eng Capitaland 3.84 5.29 Buy RNAV (15% premium)
04/19/10 Kim Eng Capitaland 4.1 5.31 Buy PB1.15x
01/19/10 Lim & Tan Capitaland 4.28 0 Hold
03/19/10 Lim & Tan Capitaland 4.28 0 Hold
03/22/10 Lim & Tan Capitaland 4.28 0 Hold
01/20/10 Macquarie Capitaland 4.28 4.79 Buy RNAV (10% discount)
01/15/10 OCBC Capitaland 4.28 4.95 Buy RNAV
01/18/10 OCBC Capitaland 4.28 5.3 Buy
02/01/10 OCBC Capitaland 3.86 5.3 Buy
03/03/10 OCBC Capitaland 3.84 5 Buy
04/05/10 OCBC Capitaland 4.04 5 Buy
05/04/10 OCBC Capitaland 3.69 5.09 Buy RNAV
05/11/10 OCBC Capitaland 3.7 4.97 Buy RNAV
Saturday, May 22, 2010
ASL Marine - OCBC is a strong supporter!
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
05/11/10 CIMB ASL Marine 0.9 1.1 Outperform PER7.5x
05/18/10 CIMB ASL Marine 0.89 1.1 Outperform
02/11/10 DBS Vickers ASL Marine 0.91 0.96 Hold Sum of parts
05/13/10 DBS Vickers ASL Marine 0.92 0.96 Hold Blended PER 7x & PER10x
02/11/10 Kim Eng ASL Marine 0.91 1.62 Buy PB1.6x
01/07/10 OCBC ASL Marine 1.01 1.19 Buy PER8x
02/11/10 OCBC ASL Marine 0.91 1.09 Buy
03/05/10 OCBC ASL Marine 0.89 1.18 Buy
04/05/10 OCBC ASL Marine 0.9 1.09 Buy
05/06/10 OCBC ASL Marine 0.905 1.09 Buy
05/13/10 OCBC ASL Marine 0.92 1.09 Buy
05/20/10 OCBC ASL Marine 0.845 1.09 Buy
05/11/10 CIMB ASL Marine 0.9 1.1 Outperform PER7.5x
05/18/10 CIMB ASL Marine 0.89 1.1 Outperform
02/11/10 DBS Vickers ASL Marine 0.91 0.96 Hold Sum of parts
05/13/10 DBS Vickers ASL Marine 0.92 0.96 Hold Blended PER 7x & PER10x
02/11/10 Kim Eng ASL Marine 0.91 1.62 Buy PB1.6x
01/07/10 OCBC ASL Marine 1.01 1.19 Buy PER8x
02/11/10 OCBC ASL Marine 0.91 1.09 Buy
03/05/10 OCBC ASL Marine 0.89 1.18 Buy
04/05/10 OCBC ASL Marine 0.9 1.09 Buy
05/06/10 OCBC ASL Marine 0.905 1.09 Buy
05/13/10 OCBC ASL Marine 0.92 1.09 Buy
05/20/10 OCBC ASL Marine 0.845 1.09 Buy
Friday, May 21, 2010
Raffles Education - Hold, not time to buy yet.
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
01/08/10 DBS Vickers Raffles Education 0.44 0.42 Hold
02/04/10 DBS Vickers Raffles Education 0.41 0.32 Fully Valued PER18x
02/10/10 DBS Vickers Raffles Education 0.345 0.32 Fully Valued
05/05/10 DBS Vickers Raffles Education 0.38 0.33 Fully Valued PER18x
05/05/10 DMG & Partners Raffles Education 0.375 0.48 Buy
02/04/10 Kim Eng Raffles Education 0.41 0.42 Hold
02/04/10 OCBC Raffles Education 0.41 0.37 Hold PER20x
03/24/10 OCBC Raffles Education 0.38 0.37 Hold PER20x
05/05/10 OCBC Raffles Education 0.375 0.37 Hold PER20x
01/08/10 DBS Vickers Raffles Education 0.44 0.42 Hold
02/04/10 DBS Vickers Raffles Education 0.41 0.32 Fully Valued PER18x
02/10/10 DBS Vickers Raffles Education 0.345 0.32 Fully Valued
05/05/10 DBS Vickers Raffles Education 0.38 0.33 Fully Valued PER18x
05/05/10 DMG & Partners Raffles Education 0.375 0.48 Buy
02/04/10 Kim Eng Raffles Education 0.41 0.42 Hold
02/04/10 OCBC Raffles Education 0.41 0.37 Hold PER20x
03/24/10 OCBC Raffles Education 0.38 0.37 Hold PER20x
05/05/10 OCBC Raffles Education 0.375 0.37 Hold PER20x
Thursday, May 20, 2010
Misleading Singapore's Q1 GDP figure?
The Singapore government has just released the Q1 GDP figure which states that the economy grew sharply by an annualised 38.6% from the previous 3 months this year and a 15.5% growth in the 1st quarter from last year.
If we were to convert the annualised figure to an actual 3-month GDP growth, that would amount to only 9.65% for the 1st quarter or 3.217% per month for the 1st quarter.
After this conversion, we can clearly see the actual growth scenario which is 9.65% vs 15.5%.
If we were to convert the annualised figure to an actual 3-month GDP growth, that would amount to only 9.65% for the 1st quarter or 3.217% per month for the 1st quarter.
After this conversion, we can clearly see the actual growth scenario which is 9.65% vs 15.5%.
Armstrong - Buy calls from all research houses.
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
02/25/10 CIMB Armstrong 0.26 0.48 Outperform PER9x
03/11/10 CIMB Armstrong 0.29 0.48 Outperform
04/06/10 CIMB Armstrong 0.34 0.48 Outperform PER9x
02/26/10 DMG & Partners Armstrong 0.27 0.37 Buy PER9.8x
04/13/10 DMG & Partners Armstrong 0.375 0.45 Buy PER9.8x
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
02/26/10 Kim Eng Armstrong 0.27 0.4 Buy PER10x
03/09/10 Kim Eng Armstrong 0.27 0.4 Buy
05/17/10 Kim Eng Armstrong 0.38 0.48 Buy PER11x
01/28/10 Lim & Tan Armstrong 0.245 0 Buy
02/25/10 Lim & Tan Armstrong 0.26 0 Buy
02/26/10 Lim & Tan Armstrong 0.27 0 Buy
03/10/10 Lim & Tan Armstrong 0.275 0 Buy
05/17/10 Lim & Tan Armstrong 0.38 0 Buy
02/25/10 CIMB Armstrong 0.26 0.48 Outperform PER9x
03/11/10 CIMB Armstrong 0.29 0.48 Outperform
04/06/10 CIMB Armstrong 0.34 0.48 Outperform PER9x
02/26/10 DMG & Partners Armstrong 0.27 0.37 Buy PER9.8x
04/13/10 DMG & Partners Armstrong 0.375 0.45 Buy PER9.8x
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
02/26/10 Kim Eng Armstrong 0.27 0.4 Buy PER10x
03/09/10 Kim Eng Armstrong 0.27 0.4 Buy
05/17/10 Kim Eng Armstrong 0.38 0.48 Buy PER11x
01/28/10 Lim & Tan Armstrong 0.245 0 Buy
02/25/10 Lim & Tan Armstrong 0.26 0 Buy
02/26/10 Lim & Tan Armstrong 0.27 0 Buy
03/10/10 Lim & Tan Armstrong 0.275 0 Buy
05/17/10 Lim & Tan Armstrong 0.38 0 Buy
City Developments - The darling of property sector as most analysts ascribed a premium to it
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
05/13/10 AmFraser City Developments 10.86 12.72 Buy RNAV
01/11/10 CIMB City Developments 11.78 12.04 Neutral RNAV (10% premium)
02/05/10 CIMB City Developments 10.64 12.16 Neutral RNAV (10% premium)
04/16/10 CIMB City Developments 11.46 12.16 Neutral
05/10/10 CIMB City Developments 10.46 12.16 Neutral
05/18/10 CIMB City Developments 10.48 12.09 neutral
02/26/10 DBS Vickers City Developments 10.34 11.38 Hold RNAV (15% premium)
03/08/10 DBS Vickers City Developments 10.36 11.38 Hold
03/16/10 DBS Vickers City Developments 10.66 11.85 Buy RNAV (15% premium)
03/30/10 DBS Vickers City Developments 10.98 11.85 Buy
04/08/10 DBS Vickers City Developments 11.4 11.85 Buy
05/13/10 DBS Vickers City Developments 10.86 12.04 Buy RNAV (15% premium)
02/05/10 DMG & Partners City Developments 10.64 12.44 Buy RNAV (20% premium)
02/26/10 DMG & Partners City Developments 10.34 12.44 Buy RNAV (20% premium)
03/15/10 DMG & Partners City Developments 10.46 12.44 Buy
04/06/10 DMG & Partners City Developments 10.98 12.44 Buy RNAV (20% premium)
04/16/10 DMG & Partners City Developments 11.46 12.44 Buy
04/23/10 DMG & Partners City Developments 11 12.45 Buy RNAV (20% premium)
04/28/10 DMG & Partners City Developments 10.86 12.48 Buy RNAV (20% premium)
05/13/10 DMG & Partners City Developments 10.86 12.48 Buy RNAV (20% premium)
01/06/10 Kim Eng City Developments 12.04 12.42 Hold RNAV (15% premium)
02/26/10 Kim Eng City Developments 10.34 12.65 Buy RNAV (15% premium)
04/14/10 Kim Eng City Developments 11.22 11.39 Buy RNAV (15% premium)
05/13/10 Kim Eng City Developments 10.86 13.2 Buy RNAV (15% premium)
01/18/10 Lim & Tan City Developments 11.66 0 Buy
02/25/10 Lim & Tan City Developments 10.32 0 Buy
05/13/10 Lim & Tan City Developments 10.86 0 Buy
02/01/10 OCBC City Developments 10.72 10.43 Hold
02/08/10 OCBC City Developments 10.38 10.46 Hold RNAV
03/03/10 OCBC City Developments 10.18 10.95 Hold
03/12/10 OCBC City Developments 10.32 10.95 Hold
04/05/10 OCBC City Developments 10.86 10.95 Hold
04/30/10 OCBC City Developments 10.7 11 Hold RNAV
05/13/10 AmFraser City Developments 10.86 12.72 Buy RNAV
01/11/10 CIMB City Developments 11.78 12.04 Neutral RNAV (10% premium)
02/05/10 CIMB City Developments 10.64 12.16 Neutral RNAV (10% premium)
04/16/10 CIMB City Developments 11.46 12.16 Neutral
05/10/10 CIMB City Developments 10.46 12.16 Neutral
05/18/10 CIMB City Developments 10.48 12.09 neutral
02/26/10 DBS Vickers City Developments 10.34 11.38 Hold RNAV (15% premium)
03/08/10 DBS Vickers City Developments 10.36 11.38 Hold
03/16/10 DBS Vickers City Developments 10.66 11.85 Buy RNAV (15% premium)
03/30/10 DBS Vickers City Developments 10.98 11.85 Buy
04/08/10 DBS Vickers City Developments 11.4 11.85 Buy
05/13/10 DBS Vickers City Developments 10.86 12.04 Buy RNAV (15% premium)
02/05/10 DMG & Partners City Developments 10.64 12.44 Buy RNAV (20% premium)
02/26/10 DMG & Partners City Developments 10.34 12.44 Buy RNAV (20% premium)
03/15/10 DMG & Partners City Developments 10.46 12.44 Buy
04/06/10 DMG & Partners City Developments 10.98 12.44 Buy RNAV (20% premium)
04/16/10 DMG & Partners City Developments 11.46 12.44 Buy
04/23/10 DMG & Partners City Developments 11 12.45 Buy RNAV (20% premium)
04/28/10 DMG & Partners City Developments 10.86 12.48 Buy RNAV (20% premium)
05/13/10 DMG & Partners City Developments 10.86 12.48 Buy RNAV (20% premium)
01/06/10 Kim Eng City Developments 12.04 12.42 Hold RNAV (15% premium)
02/26/10 Kim Eng City Developments 10.34 12.65 Buy RNAV (15% premium)
04/14/10 Kim Eng City Developments 11.22 11.39 Buy RNAV (15% premium)
05/13/10 Kim Eng City Developments 10.86 13.2 Buy RNAV (15% premium)
01/18/10 Lim & Tan City Developments 11.66 0 Buy
02/25/10 Lim & Tan City Developments 10.32 0 Buy
05/13/10 Lim & Tan City Developments 10.86 0 Buy
02/01/10 OCBC City Developments 10.72 10.43 Hold
02/08/10 OCBC City Developments 10.38 10.46 Hold RNAV
03/03/10 OCBC City Developments 10.18 10.95 Hold
03/12/10 OCBC City Developments 10.32 10.95 Hold
04/05/10 OCBC City Developments 10.86 10.95 Hold
04/30/10 OCBC City Developments 10.7 11 Hold RNAV
Wednesday, May 19, 2010
Sembcorp Marine - What did Sembmarine do to incur the dislikes of DMG?
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
02/05/10 AmFraser Sembcorp Marine 3.42 4.65 Buy PER20x
02/23/10 CIMB Sembcorp Marine 3.41 4.54 Outperform
03/12/10 CIMB Sembcorp Marine 4.11 4.54 Outperform DCF, PER18x
03/19/10 CIMB Sembcorp Marine 4.02 5.44 Outperform DCF, PER18x
04/19/10 CIMB Sembcorp Marine 4.42 5.44 Outperform
05/10/10 CIMB Sembcorp Marine 4.09 5.44 Outperform DCF, PER18x
05/18/10 CIMB Sembcorp Marine 4.2 5.44 Outperform
01/05/10 DBS Vickers Sembcorp Marine 3.7 4.26 Buy
02/04/10 DBS Vickers Sembcorp Marine 3.46 4.26 Buy
02/23/10 DBS Vickers Sembcorp Marine 3.41 5.25 Buy Sum of parts
03/08/10 DBS Vickers Sembcorp Marine 3.89 5.25 Buy
04/15/10 DBS Vickers Sembcorp Marine 4.4 5.6 Buy
05/10/10 DBS Vickers Sembcorp Marine 4.09 5.4 Buy Sum of parts, PER16x
02/08/10 DMG & Partners Sembcorp Marine 3.32 3.31 Neutral Sum of parts, PER14.6x
02/23/10 DMG & Partners Sembcorp Marine 3.41 3.51 Neutral Sum of parts, PER15.5x
03/12/10 DMG & Partners Sembcorp Marine 4.11 3.51 Sell Sum of parts, PER15.4x
03/19/10 DMG & Partners Sembcorp Marine 4.02 3.51 Sell Sum of parts
04/15/10 DMG & Partners Sembcorp Marine 4.4 3.67 Sell Sum of parts, PER15.5x
04/23/10 DMG & Partners Sembcorp Marine 4.28 3.67 Sell
04/30/10 DMG & Partners Sembcorp Marine 4.31 3.67 Sell Sum of parts, PER15.7x, PB3.4x
05/06/10 DMG & Partners Sembcorp Marine 4.04 3.67 Sell
05/10/10 DMG & Partners Sembcorp Marine 4.09 3.67 Sell Sum of parts
05/17/10 DMG & Partners Sembcorp Marine 4.2 3.67 Sell
02/23/10 Kim Eng Sembcorp Marine 3.41 4.95 Buy PER14x
03/19/10 Kim Eng Sembcorp Marine 4.02 4.95 Buy PER14x
04/06/10 Kim Eng Sembcorp Marine 4.35 4.95 Buy PER14x
05/10/10 Kim Eng Sembcorp Marine 4.09 4.95 Buy PER14x
02/23/10 Lim & Tan Sembcorp Marine 3.41 0 Buy
04/15/10 Lim & Tan Sembcorp Marine 4.4 0 Buy
03/05/10 OCBC Sembcorp Marine 3.82 4.16 Buy
03/11/10 OCBC Sembcorp Marine 3.97 4.58 Buy
04/05/10 OCBC Sembcorp Marine 4.29 4.58 Buy
04/13/10 phillip Sembcorp Marine 4.26 4.72 Buy Sum of parts
05/10/10 phillip Sembcorp Marine 4.09 4.74 Buy Sum of 2 parts
02/05/10 AmFraser Sembcorp Marine 3.42 4.65 Buy PER20x
02/23/10 CIMB Sembcorp Marine 3.41 4.54 Outperform
03/12/10 CIMB Sembcorp Marine 4.11 4.54 Outperform DCF, PER18x
03/19/10 CIMB Sembcorp Marine 4.02 5.44 Outperform DCF, PER18x
04/19/10 CIMB Sembcorp Marine 4.42 5.44 Outperform
05/10/10 CIMB Sembcorp Marine 4.09 5.44 Outperform DCF, PER18x
05/18/10 CIMB Sembcorp Marine 4.2 5.44 Outperform
01/05/10 DBS Vickers Sembcorp Marine 3.7 4.26 Buy
02/04/10 DBS Vickers Sembcorp Marine 3.46 4.26 Buy
02/23/10 DBS Vickers Sembcorp Marine 3.41 5.25 Buy Sum of parts
03/08/10 DBS Vickers Sembcorp Marine 3.89 5.25 Buy
04/15/10 DBS Vickers Sembcorp Marine 4.4 5.6 Buy
05/10/10 DBS Vickers Sembcorp Marine 4.09 5.4 Buy Sum of parts, PER16x
02/08/10 DMG & Partners Sembcorp Marine 3.32 3.31 Neutral Sum of parts, PER14.6x
02/23/10 DMG & Partners Sembcorp Marine 3.41 3.51 Neutral Sum of parts, PER15.5x
03/12/10 DMG & Partners Sembcorp Marine 4.11 3.51 Sell Sum of parts, PER15.4x
03/19/10 DMG & Partners Sembcorp Marine 4.02 3.51 Sell Sum of parts
04/15/10 DMG & Partners Sembcorp Marine 4.4 3.67 Sell Sum of parts, PER15.5x
04/23/10 DMG & Partners Sembcorp Marine 4.28 3.67 Sell
04/30/10 DMG & Partners Sembcorp Marine 4.31 3.67 Sell Sum of parts, PER15.7x, PB3.4x
05/06/10 DMG & Partners Sembcorp Marine 4.04 3.67 Sell
05/10/10 DMG & Partners Sembcorp Marine 4.09 3.67 Sell Sum of parts
05/17/10 DMG & Partners Sembcorp Marine 4.2 3.67 Sell
02/23/10 Kim Eng Sembcorp Marine 3.41 4.95 Buy PER14x
03/19/10 Kim Eng Sembcorp Marine 4.02 4.95 Buy PER14x
04/06/10 Kim Eng Sembcorp Marine 4.35 4.95 Buy PER14x
05/10/10 Kim Eng Sembcorp Marine 4.09 4.95 Buy PER14x
02/23/10 Lim & Tan Sembcorp Marine 3.41 0 Buy
04/15/10 Lim & Tan Sembcorp Marine 4.4 0 Buy
03/05/10 OCBC Sembcorp Marine 3.82 4.16 Buy
03/11/10 OCBC Sembcorp Marine 3.97 4.58 Buy
04/05/10 OCBC Sembcorp Marine 4.29 4.58 Buy
04/13/10 phillip Sembcorp Marine 4.26 4.72 Buy Sum of parts
05/10/10 phillip Sembcorp Marine 4.09 4.74 Buy Sum of 2 parts
SIA - The airliner that is flying high!
Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method
02/09/10 AmFraser SIA 14.3 18.6 Buy EV/Ebita 6x
01/18/10 CIMB SIA 14.38 15 Underperform PB1.4x
02/03/10 CIMB SIA 13.66 15.9 Outperform PB1.4x, PER12.5x
02/08/10 CIMB SIA 14.1 15.9 Trading Buy PB1.4x
02/18/10 CIMB SIA 14.8 15.9 Trading Buy PB1.4x
03/16/10 CIMB SIA 15.78 17.9 Outperform PER14x
04/16/10 CIMB SIA 15.44 17.9 Outperform PER14x
05/18/10 CIMB SIA 14.8 17.9 Outperform
03/09/10 Citigroup SIA 15.62 16 Sell
05/10/10 Citigroup SIA 14.62 16 Buy
03/09/10 DBS Vickers SIA 15.62 18 Buy PB1.5x
04/15/10 DBS Vickers SIA 15.54 18 Buy PB1.5x
02/03/10 DMG & Partners SIA 13.66 16.71 Buy PER15x
02/18/10 DMG & Partners SIA 14.8 16.71 Buy PER15x
03/16/10 DMG & Partners SIA 15.78 16.71 Neutral PER15x
04/16/10 DMG & Partners SIA 15.48 17.82 Buy PER16x
05/18/10 DMG & Partners SIA 14.56 17.82 Buy PER16x
02/03/10 Kim Eng SIA 13.66 16.2 Buy PB1.5x
02/18/10 Kim Eng SIA 14.8 16.2 Buy PB1.5x
03/16/10 Kim Eng SIA 15.78 16.2 Buy
03/31/10 Kim Eng SIA 15.66 18.9 Buy PB1.7x
04/16/10 Kim Eng SIA 15.44 18.9 Buy PB1.7x
05/18/10 Kim Eng SIA 14.56 18.9 Buy PB1.7x
02/09/10 AmFraser SIA 14.3 18.6 Buy EV/Ebita 6x
01/18/10 CIMB SIA 14.38 15 Underperform PB1.4x
02/03/10 CIMB SIA 13.66 15.9 Outperform PB1.4x, PER12.5x
02/08/10 CIMB SIA 14.1 15.9 Trading Buy PB1.4x
02/18/10 CIMB SIA 14.8 15.9 Trading Buy PB1.4x
03/16/10 CIMB SIA 15.78 17.9 Outperform PER14x
04/16/10 CIMB SIA 15.44 17.9 Outperform PER14x
05/18/10 CIMB SIA 14.8 17.9 Outperform
03/09/10 Citigroup SIA 15.62 16 Sell
05/10/10 Citigroup SIA 14.62 16 Buy
03/09/10 DBS Vickers SIA 15.62 18 Buy PB1.5x
04/15/10 DBS Vickers SIA 15.54 18 Buy PB1.5x
02/03/10 DMG & Partners SIA 13.66 16.71 Buy PER15x
02/18/10 DMG & Partners SIA 14.8 16.71 Buy PER15x
03/16/10 DMG & Partners SIA 15.78 16.71 Neutral PER15x
04/16/10 DMG & Partners SIA 15.48 17.82 Buy PER16x
05/18/10 DMG & Partners SIA 14.56 17.82 Buy PER16x
02/03/10 Kim Eng SIA 13.66 16.2 Buy PB1.5x
02/18/10 Kim Eng SIA 14.8 16.2 Buy PB1.5x
03/16/10 Kim Eng SIA 15.78 16.2 Buy
03/31/10 Kim Eng SIA 15.66 18.9 Buy PB1.7x
04/16/10 Kim Eng SIA 15.44 18.9 Buy PB1.7x
05/18/10 Kim Eng SIA 14.56 18.9 Buy PB1.7x
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