UOB Bank - Mixed calls from analysts.

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

02/10/11	CIMB	UOB	19.24	20.83	Underperform	PB1.55x & GGM
02/28/11	CIMB	UOB	18.28	20.38	Underperform	PB1.5x & GGM
03/03/11	CIMB	UOB	18.36	20.38	Underperform	PB1.5x & GGM
03/25/11	CIMB	UOB	18.54	20.38	Underperform	PB1.5x & GGM
04/05/11	CIMB	UOB	19.02	20.38	Underperform
05/09/11	CIMB	UOB	18.8	20.38	Underperform	GGM
05/16/11	CIMB	UOB	19.56	20.38	Underperform	PB1.5x, GGM
03/18/11	CLSA	UOB	18.12	22	Buy
04/14/11	CLSA	UOB	19.6	22	Buy
01/28/11	DBS Vickers	UOB	19.86	21.5	Buy
02/28/11	DBS Vickers	UOB	18.28	21.7	Buy
03/03/11	DBS Vickers	UOB	18.4	21.7	Buy	PB1.8x & GGM
03/28/11	DBS Vickers	UOB	18.58	21.7	Buy
04/01/11	DBS Vickers	UOB	18.82	21.7	Buy
04/27/11	DBS Vickers	UOB	19.88	21.7	Buy
05/09/11	DBS Vickers	UOB	18.8	21.7	Buy	PB1.8x, GGM
05/19/11	DBS Vickers	UOB	19.24	21.7	Buy	PB1.8x, GGM
01/04/11	DMG & Partners	UOB	18.2	22	Buy	PB1.5x
01/05/11	DMG & Partners	UOB	17.8	22	Buy
02/01/11	DMG & Partners	UOB	19.84	22	Buy
02/28/11	DMG & Partners	UOB	18.24	22	Buy	PB1.65x
03/02/11	DMG & Partners	UOB	18.4	22	Buy	PB1.65x
03/30/11	DMG & Partners	UOB	18.52	22	Buy
04/01/11	DMG & Partners	UOB	12.51	22	Buy	PB1.65x
05/09/11	DMG & Partners	UOB	18.8	22	Buy	PB1.65x
05/18/11	DMG & Partners	UOB	19.02	22	Buy	PB1.7x
03/28/11	JP Morgan	UOB	18.58	19.8	Neutral
02/28/11	Kim Eng	UOB	18.24	21.5	Buy	PB1.65x & GGM
03/08/11	Kim Eng	UOB	18.6	20.5	Buy
05/09/11	Kim Eng	UOB	18.8	21.5	Buy	PB1.65x, GGM
02/28/11	OCBC	UOB	18.28	19.7	Buy
05/09/11	OCBC	UOB	18.8	19.7	Hold
05/09/11	OCBC	UOB	18.8	19.7	Hold	Buy at $18.20 or below
02/28/11	phillip	UOB	18.28	20.12	Hold
01/21/11	RBS	UOB	19.34	23	Buy

UOA - Long-term buy!

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

03/11/11 NRA EH5 UOA 0.46 0.47 Long-term Buy

United Envirotech - Buy calls from analysts.

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

02/10/11	DMG & Partners	United Envirotech	0.45	0.61	Buy	PER10.8x
03/08/11	DMG & Partners	United Envirotech	0.395	0.61	Buy
02/01/11	OCBC	United Envirotech	0.455	0.69	Buy	DCF, Under Review
02/02/11	OCBC	United Envirotech	0.435	0.65	Buy	DCF
03/11/11	OCBC	United Envirotech	0.4	0.65	Buy	DCF
04/08/11	OCBC	United Envirotech	0.415	0.65	Buy

United Engineers - Buy calls from CIMB.

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

02/16/11	CIMB	United Engineers	2.44	3.27	Outperform	RNAV (10% discount)
03/02/11	CIMB	United Engineers	2.43	3.21	Outperform	RNAV (15% discount)
04/08/11	CIMB	United Engineers	2.61	3.21	Outperform	RNAV (15% discount)
05/11/11	CIMB	United Engineers	2.35	3.26	Outperform	RNAV (15% discount)

UIC - Fully valued by DBS Vickers.

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

12/20/10	DBS Vickers	UIC	2.4	2.21	Hold
02/21/11	DBS Vickers	UIC	2.78	2.38	Fully Valued	RNAV (5% discount)
03/16/11	DBS Vickers	UIC	2.84	2.38	Fully Valued
04/28/11	DBS Vickers	UIC	2.81	2.43	Fully Valued	RNAV (5% discount)
05/18/11	DBS Vickers	UIC	2.82	2.43	Fully Valued

Tuan Sing - Buy call from Kim Eng.

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

04/13/11	Kim Eng	Tuan Sing	0.345	0.63	Buy	RNAV (15% discount)
04/29/11	Kim Eng	Tuan Sing	0.38	0.63	Buy	RNAV (15% discount)

TPV - CIMB downgraded the target price but not its call.

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

03/24/11	Lim & Tan	TPV	0.74	0	Buy
04/19/11	CIMB	TPV	0.78	0.95	Outperform	PB0.95x

Tiong Woon - Sell calls by analysts.

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

01/28/11	CIMB	Tiong Woon	0.41	0.32	Underperform
02/15/11	CIMB	Tiong Woon	0.405	0.25	Underperform	PER7.2x
05/11/11	CIMB	Tiong Woon	0.36	0.25	Underperform	PER7.2x
02/24/11	DMG & Partners	Tiong Woon	0.345	0.3	Sell	PER6.6x
05/12/11	DMG & Partners	Tiong Woon	0.36	0.3	sell	PER6.6x