SMRT - Mixed calls from 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
05/03/11	CIMB	SMRT	1.9	2.03	Underperform	DCF
05/09/11	CIMB	SMRT	1.9	2.03	Underperform
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
03/11/11	DBS Vickers	SMRT	1.93	2.03	Hold	DCF & PER17x
05/03/11	DBS Vickers	SMRT	1.9	2.08	Hold	DCF & PER
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
03/09/11	DMG & Partners	SMRT	1.93	2.02	Neutral
03/10/11	DMG & Partners	SMRT	1.93	2.02	Neutral
03/14/11	DMG & Partners	SMRT	1.91	1.75	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
05/03/11	Kim Eng	SMRT	1.9	2	Hold
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
04/15/11	OCBC	SMRT	1.89	2.16	Hold	Under Review
05/03/11	OCBC	SMRT	1.9	2.07	Hold
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
03/03/11	phillip	SMRT	1.95	2.3	Buy
04/27/11	phillip	SMRT	1.87	2.3	Buy
05/03/11	phillip	SMRT	1.9	2.22	Buy	DCF & PER

Sinopipe - Increase your exposure by SIAS.

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

01/19/11

SIAS

Sinopipe

0.26

0.4

Increase

Sinomem - Buy call from CIMB.

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

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

Baltic Dry Index (BDI) - 1340

Quote:
The dry freight market avoided a broader commodity rout early last week, which had been driven by economic jitters. The index rose 1.98 per cent or 26 points to 1,340 points in a sixth session of gains.

End quote.

Sino Grandness Food - Lim & Tan doesn't like gourmet.

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
03/21/11	DBS Vickers	Sino Grandness Food	0.48	0.6	Buy	PER6x
03/25/11	DBS Vickers	Sino Grandness Food	0.54	0.6	Buy
03/28/11	DBS Vickers	Sino Grandness Food	0.535	0.6	Buy	PER6x
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
05/05/11	DMG & Partners	Sino Grandness Food	0.57	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

Singtel - Mixed calls from analysts.

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

08/13/10	AmFraser	Singtel	2.99	2.82	Hold
05/18/10	CIMB	Singtel	2.96	3	Underperform
05/19/10	CIMB	Singtel	2.97	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
04/12/11	CIMB	Singtel	3.05	3.29	Underperform	Sum of parts
05/06/11	CIMB	Singtel	3.11	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
03/07/11	Credit Suisse	Singtel	2.91	3.73	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
05/09/11	DBS Vickers	Singtel	3.1	3.2	Hold	Sum of parts
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
09/02/10	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
04/21/11	DMG & Partners	Singtel	3.09	3	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
02/11/11	Kim Eng	Singtel	3.05	3.11	Hold	PER12x
04/01/11	Kim Eng	Singtel	3.02	3.11	Hold
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%
09/02/10	OCBC	Singtel	3.08	3.34	Buy
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