SGX - Mixed calls from analysts.

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

05/18/10 CIMB SGX 7.74 8.38 Underperform
06/04/10 CIMB SGX 7.39 8.38 Neutral DDM
08/03/10 CIMB SGX 7.79 8.38 Neutral DDM
09/24/10 CIMB SGX 8.87 9.75 Outperform DDM
09/27/10 CIMB SGX 8.88 9.75 Neutral
10/19/10 CIMB SGX 10.04 10.86 Outperform DDM
01/12/11 CIMB SGX 8.41 8.26 Trading Sell PER19x
01/19/11 CIMB SGX 8.5 8 Trading Sell PER19x
01/28/11 CIMB SGX 8.62 8 Trading Sell
02/16/11 CIMB SGX 8.3 8 Trading Sell PER19x
04/06/11 CIMB SGX 8.33 10.13 Outperform DDM
04/15/11 CIMB SGX 8.21 10.12 Outperform DDM
04/19/11 CIMB SGX 8.08 10.12 Outperform DDM

04/06/11 Citigroup SGX 8.32 10.6 Buy PER27.1x
04/15/11 Citigroup SGX 8.21 9.2 Buy PER24x

04/04/11 CLSA SGX 8.05 8 Underperform

10/26/10 Credit Suisse SGX 8.95 7.5 Underperform
04/06/11 Credit Suisse SGX 8.33 9.4 Neutral PER21x

07/02/10 DBS Vickers SGX 7.44 7 Fully Valued PER18x
08/03/10 DBS Vickers SGX 7.79 6.9 Fully Valued PER18x
09/22/10 DBS Vickers SGX 8.5 9.6 Buy DDM
09/27/10 DBS Vickers SGX 8.8 9.6 Buy
10/19/10 DBS Vickers SGX 10.04 11.4 Buy
01/19/11 DBS Vickers SGX 8.5 11.5 Buy DDM
04/06/11 DBS Vickers SGX 8.33 11.5 Buy DDM
04/08/11 DBS Vickers SGX 8.15 11.5 Buy DDM, PER27x
04/20/11 DBS Vickers SGX 7.95 10.5 Buy DDM

09/15/10 Deutsche SGX 8.2 9.5 Buy
11/19/10 Deutsche SGX 8.94 10.5 Hold

12/01/10 DIR SGX 8.62 9.76 Outperform
01/18/11 DIR SGX 8.43 9.42 Neutral 6-month target

05/21/10 DMG & Partners SGX 7.5 6.5 Sell
05/21/10 DMG & Partners SGX 7.68 6.5 Sell PER20x
06/01/10 DMG & Partners SGX 7.38 6.5 Sell PER20x
06/07/10 DMG & Partners SGX 7.35 6.5 Sell
07/08/10 DMG & Partners SGX 7.34 6.5 Sell PER20x
08/26/10 DMG & Partners SGX 7.38 6.5 Sell PER20x
10/12/10 DMG & Partners SGX 9.44 7.9 Sell Sum of parts
10/19/10 DMG & Partners SGX 10.12 7.9 Sell
10/26/10 DMG & Partners SGX 8.95 8.33 Neutral PER20x
01/11/11 DMG & Partners SGX 8.41 9.45 Buy PER22x
01/18/11 DMG & Partners SGX 8.43 9.45 Buy PER22x
01/21/11 DMG & Partners SGX 8.55 9.45 Buy PER22x
02/16/11 DMG & Partners SGX 8.3 9.45 Buy
03/28/11 DMG & Partners SGX 7.85 8.9 Buy PER22x
04/05/11 DMG & Partners SGX 7.97 8.9 Buy PER22x
04/07/11 DMG & Partners SGX 7.97 8.9 Buy PER22x
04/19/11 DMG & Partners SGX 8.08 8.9 Buy PER22x
04/20/11 DMG & Partners SGX 8.08 8.9 Buy PER22x

06/09/10 Kim Eng SGX 7.32 7.1 Hold
08/03/10 Kim Eng SGX 7.79 7.1 Hold PER22x
10/19/10 Kim Eng SGX 10.04 10 Hold
10/26/10 Kim Eng SGX 8.95 8.33 Hold PER25x
12/02/10 Kim Eng SGX 8.68 11 Buy PER25x
12/14/10 Kim Eng SGX 8.45 11 Buy PER25x
01/19/11 Kim Eng SGX 8.5 10.3 Buy PER30x
04/06/11 Kim Eng SGX 8.33 9.35 Buy PER30x

07/29/10 Lim & Tan SGX 7.68 0 Neutral
08/02/10 Lim & Tan SGX 7.66 0 Neutral
10/07/10 Lim & Tan SGX 9.48 0 Hold
10/18/10 Lim & Tan SGX 10.12 0 Hold
12/02/10 Lim & Tan SGX 8.68 0 Neutral
01/18/11 Lim & Tan SGX 8.43 0 Hold
02/10/11 Lim & Tan SGX 8.34 0 Neutral
03/08/11 Lim & Tan SGX 7.77 0 Neutral
03/17/11 Lim & Tan SGX 7.45 0 Neutral
04/04/11 Lim & Tan SGX 7.86 0 Neutral
04/06/11 Lim & Tan SGX 8.33 0 Hold
04/12/11 Lim & Tan SGX 8.35 0 Hold

09/20/10 Macquarie SGX 8.44 9.5 Outperform

08/03/10 OCBC SGX 7.79 7.93 Hold PER23x
09/14/10 OCBC SGX 7.93 7.5 Hold
10/18/10 OCBC SGX 10.12 8.6 Sell
10/26/10 OCBC SGX 8.95 8.97 Hold PER26x
01/18/11 OCBC SGX 8.43 8.97 Hold
02/16/11 OCBC SGX 8.3 8.97 Hold
04/06/11 OCBC SGX 8.33 8.97 Hold
04/19/11 OCBC SGX 8.08 8.97 Buy

06/28/10 phillip SGX 7.57 9 Buy DCF, PER22.5x
08/03/10 phillip SGX 7.79 9 Buy
08/03/10 phillip SGX 7.79 9 Buy
10/08/10 phillip SGX 9.47 10.5 Buy PER24.1x
10/19/10 phillip SGX 10.04 10.5 Buy
10/27/10 phillip SGX 8.72 10.5 Buy
01/19/11 phillip SGX 8.5 9.88 Buy
04/11/11 phillip SGX 8.38 9.88 Buy
04/20/11 phillip SGX 7.95 8.77 Hold PER29.7x

10/08/10 UBS SGX 9.47 10.5 Buy
03/29/11 UBS SGX 7.78 9.7 Buy
04/06/11 UBS SGX 8.33 9.4 Neutral