Courts Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/15/16	CIMB	CourtsAsia	0.315	0.42	Add	PER9.6x CY16
03/24/16	DBS Vickers	CourtsAsia	0.315	0.44	Buy
05/30/16	CIMB	CourtsAsia	0.325	0.49	Add	PER9.6x CY17
05/30/16	DBS Vickers	CourtsAsia	0.325	0.45	Buy
08/15/16	CIMB	CourtsAsia	0.42	0.5	Add	PER9.6x CY17
08/15/16	DBS Vickers	CourtsAsia	0.42	0.45	Buy	PER10x FY17
09/19/16	CIMB	CourtsAsia	0.41	0.53	Add	PER10.2x CY17
11/10/16	CIMB	CourtsAsia	0.44	0.6	Add	PER10.2x CY18
11/11/16	DBS Vickers	CourtsAsia	0.45	0.5	Buy	PER10x FY17/18
12/09/16	DBS Vickers	CourtsAsia	0.45	0.5	Buy
02/08/17	DBS Vickers	CourtsAsia	0.435	0.51	Buy	PER10x FY17/18
06/30/17	CIMB	CourtsAsia	0.43	0.6	Add	PER10.2x CY18
06/30/17	DBS Vickers	CourtsAsia	0.43	0.5	Buy
08/14/17	DBS Vickers	CourtsAsia	0.425	0.49	Buy	PER10x FY18
11/13/17	DBS Vickers	CourtsAsia	0.345	0.36	Hold	PER10x FY19