Creative Tech - Not creative anymore.

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

02/04/10 DBS Vickers Creative Tech 5.93 5.46 Hold PB1x
08/10/10 DBS Vickers Creative Tech 4.01 3.51 Fully Valued PB0.8x

05/06/10 Lim & Tan Creative Tech 5.03 0 Sell
12/06/10 Lim & Tan Creative Tech 4.06 0 Sell
12/15/10 Lim & Tan Creative Tech 4.03 0 Sell

Cosco - Mixed calls by analysts.

06/03/10 CIMB Cosco 1.33 1.41 Underperform Sum of parts
06/16/10 CIMB Cosco 1.45 1.24 Underperform Sum of parts
07/23/10 CIMB Cosco 1.61 1.24 Underperform Sum of parts
08/03/10 CIMB Cosco 1.68 1.41 Underperform
10/07/10 CIMB Cosco 1.87 2.01 Neutral PER15x
11/04/10 CIMB Cosco 1.94 2.2 Outperform PER15x
12/02/10 CIMB Cosco 2.06 2.63 Outperform PER18x

09/22/10 Citigroup Cosco 1.73 2.3 Buy

06/16/10 DBS Vickers Cosco 1.45 1.8 Buy Sum of parts
06/18/10 DBS Vickers Cosco 1.5 1.8 Buy Sum of parts
07/23/10 DBS Vickers Cosco 1.61 1.8 Buy Sum of parts
08/02/10 DBS Vickers Cosco 1.64 1.8 Buy
08/03/10 DBS Vickers Cosco 1.68 1.88 Buy Sum of parts
09/27/10 DBS Vickers Cosco 1.86 2.35 Buy
11/04/10 DBS Vickers Cosco 1.94 2.35 Buy Sum of parts & PB
11/22/10 DBS Vickers Cosco 2.08 2.35 Buy
12/02/10 DBS Vickers Cosco 2.06 2.35 Buy
12/13/10 DBS Vickers Cosco 2.11 2.35 Buy
12/16/10 DBS Vickers Cosco 2.14 2.76 Buy PER14x
01/03/11 DBS Vickers Cosco 2.11 2.76 Buy Sum of parts & PB4.19x
01/04/11 DBS Vickers Cosco 2.24 2.76 Buy

10/06/10 Deutsche Cosco 1.85 2.25 Buy

11/02/10 DMG & Partners Cosco 1.88 2.15 Neutral

06/16/10 Kim Eng Cosco 1.45 1.44 Hold PB3x
07/06/10 Kim Eng Cosco 1.45 1.44 Hold BV3x
07/23/10 Kim Eng Cosco 1.61 2.1 Buy BV4.2x
08/03/10 Kim Eng Cosco 1.68 2.1 Buy PB4.2x
08/05/10 Kim Eng Cosco 1.63 2.1 Buy
09/27/10 Kim Eng Cosco 1.86 2.1 Buy PB4.2x
11/02/10 Kim Eng Cosco 1.88 2.1 Buy
11/04/10 Kim Eng Cosco 1.94 2.43 Buy
11/04/10 Kim Eng Cosco 1.86 2.43 Buy PB4.8x

12/06/10 OCBC Cosco 2.11 2.35 Buy

07/01/10 phillip Cosco 1.49 1.65 Hold BV3.2x
08/03/10 phillip Cosco 1.68 1.65 Hold
09/24/10 phillip Cosco 1.85 1.65 Hold PB1.32x
11/04/10 phillip Cosco 1.94 2.32 Buy PB3.8x
12/15/10 phillip Cosco 2.14 2.32 Neutral

Contel - Will the reserve takeover save this company?

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

06/17/10 Lim & Tan Contel 0.01 0 Sell Insolvent

Lim & Tan deemed this company to be insolvent after looking through its financial statement in June but this company maybe magically revived by the reverse takeover if this really materializes.

ConscienceFood - Buy call from DBS Vickers.

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

12/09/10 DBS Vickers ConscienceFood 0.225 0.38 Buy PER7x

Comfortdelgro - Buy calls from all analysts.

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

05/18/10 AmFraser Comfortdelgro 1.5 1.89 Buy
08/16/10 AmFraser Comfortdelgro 1.57 1.89 Buy

05/18/10 CIMB Comfortdelgro 1.49 1.73 Underperform
08/16/10 CIMB Comfortdelgro 1.55 1.83 Outperform DCF
10/01/10 CIMB Comfortdelgro 1.52 1.9 Outperform DCF
11/15/10 CIMB Comfortdelgro 1.46 1.9 Outperform DCF

08/17/10 DBS Vickers Comfortdelgro 1.55 1.65 Hold
11/15/10 DBS Vickers Comfortdelgro 1.46 1.79 Buy DCF & PER15x

06/01/10 DMG & Partners Comfortdelgro 1.45 1.78 Buy
06/21/10 DMG & Partners Comfortdelgro 1.45 1.78 Buy
08/02/10 DMG & Partners Comfortdelgro 1.6 1.78 Buy
08/16/10 DMG & Partners Comfortdelgro 1.55 1.78 Buy DCF
08/17/10 DMG & Partners Comfortdelgro 1.55 1.78 Buy
09/03/10 DMG & Partners Comfortdelgro 1.53 1.78 Buy
10/21/10 DMG & Partners Comfortdelgro 1.49 1.74 Buy
10/22/10 DMG & Partners Comfortdelgro 1.5 1.74 Buy
11/15/10 DMG & Partners Comfortdelgro 1.46 1.85 Buy DCF
01/05/11 DMG & Partners Comfortdelgro 1.54 1.85 Buy

07/19/10 Kim Eng Comfortdelgro 1.51 1.87 Buy PER17x
08/16/10 Kim Eng Comfortdelgro 1.55 1.87 Buy PER17x
11/15/10 Kim Eng Comfortdelgro 1.46 1.87 Buy PER17x
12/17/10 Kim Eng Comfortdelgro 1.55 2.08 Buy PER17x

12/10/10 Macquarie Comfortdelgro 1.54 2 Outperform

06/04/10 phillip Comfortdelgro 1.41 1.73 Buy
08/12/10 phillip Comfortdelgro 1.58 1.73 Hold
08/16/10 phillip Comfortdelgro 1.55 1.75 Buy
11/15/10 phillip Comfortdelgro 1.46 1.75 Buy

Combine Will - Buy call from Phillip.

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

11/15/10 phillip Combine Will 0.32 0.4 Buy

CitySpring - No prospect!

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

02/17/10 DBS Vickers CitySpring 0.62 0.62 Hold DDM
05/25/10 DBS Vickers CitySpring 0.595 0.67 Buy DDM

02/17/10 Kim Eng CitySpring 0.615 0.69 Buy
11/15/10 Kim Eng CitySpring 0.605 0.62 Hold
11/30/10 Kim Eng CitySpring 0.595 0.52 Sell FCFE Model

01/05/10 OCBC CitySpring 0.595 0.68 Buy DDM
02/12/10 OCBC CitySpring 0.61 0.68 Buy DDM
05/25/10 OCBC CitySpring 0.595 0.6 Hold DDM
06/24/10 OCBC CitySpring 0.595 0.6 Hold DDM
10/05/10 OCBC CitySpring 0.6 0 Cease Coverage No Prospect

City Developments - Mixed calls by analysts.

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

08/13/10 AmFraser City Developments 12 13.82 Buy RNAV
08/30/10 AmFraser City Developments 11.96 13.82 Buy

05/18/10 CIMB City Developments 10.48 12.09 neutral
05/20/10 CIMB City Developments 10.4 11.46 Neutral RNAV
06/14/10 CIMB City Developments 10.82 11.46 Neutral
06/15/10 CIMB City Developments 10.9 11.46 Neutral
10/18/10 CIMB City Developments 13.56 11.27 Underperform RNAV (10% discount)
11/11/10 CIMB City Developments 13.48 12.89 Underperform RNAV

07/20/10 Credit Suisse City Developments 11.4 13.18 Outperform
12/16/10 Credit Suisse City Developments 13 17.16 Outperform

06/16/10 DBS Vickers City Developments 10.9 12.04 Hold
07/16/10 DBS Vickers City Developments 11.34 12.04 Buy
08/13/10 DBS Vickers City Developments 12 12.52 Hold RNAV (15% premium)
12/20/10 DBS Vickers City Developments 12.92 13.26 Fully Valued

06/01/10 DMG & Partners City Developments 10.28 12.48 Buy
08/12/10 DMG & Partners City Developments 11.92 10.6 Neutral RNAV
08/13/10 DMG & Partners City Developments 11.92 10.6 Neutral RNAV
11/11/10 DMG & Partners City Developments 13.48 11.07 Neutral RNAV
12/03/10 DMG & Partners City Developments 12.32 11.07 Neutral RNAV
12/20/10 DMG & Partners City Developments 12.92 11.07 Neutral

06/23/10 Kim Eng City Developments 10.9 13.2 Buy RNAV (15% premium)
08/13/10 Kim Eng City Developments 12 13.8 Buy RNAV (15% premium)
09/15/10 Kim Eng City Developments 11.62 13.4 Buy RNAV (10% premium)
10/06/10 Kim Eng City Developments 12.3 13.95 Buy RNAV (10% premium)
11/12/10 Kim Eng City Developments 13.5 14.2 Hold

07/14/10 Lim & Tan City Developments 10.88 0 Buy
08/12/10 Lim & Tan City Developments 11.92 0 Buy
10/01/10 Lim & Tan City Developments 12.76 0 Buy
11/11/10 Lim & Tan City Developments 13.48 0 Buy

06/03/10 OCBC City Developments 10.24 11.11 Hold RNAV
06/07/10 OCBC City Developments 10.64 11.11 Hold RNAV
06/16/10 OCBC City Developments 10.9 11.11 Hold
07/05/10 OCBC City Developments 11.02 11.11 Hold
07/15/10 OCBC City Developments 11.04 11.16 Hold RNAV
07/16/10 OCBC City Developments 11.34 11.16 Hold
08/12/10 OCBC City Developments 11.92 11.16 Hold, Under Review RNAV
11/02/10 OCBC City Developments 12.86 11.16 Hold Under Review
11/11/10 OCBC City Developments 13.48 12.35 Hold RNAV
11/16/10 OCBC City Developments 13.04 13.26 Fully Valued

09/14/10 UBS City Developments 11.76 10.96 Sell

China Zaino - Outperform call by CIMB.

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

02/25/10 CIMB China Zaino 0.24 0.34 Outperform PER4x
04/26/10 CIMB China Zaino 0.29 0.36 Outperform PER5x
04/29/10 CIMB China Zaino 0.27 0.36 Outperform PER5x

China XLX Fertiliser - Buy calls from analysts.

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

01/08/10 CIMB China XLX Fertiliser 0.67 0.72 Neutral PER12x
02/24/10 CIMB China XLX Fertiliser 0.52 0.72 Outperform PER12x
03/18/10 CIMB China XLX Fertiliser 0.58 0.72 Outperform PER7x
03/29/10 CIMB China XLX Fertiliser 0.575 0.72 Outperform
04/28/10 CIMB China XLX Fertiliser 0.58 0.72 Outperform PER7x
04/30/10 CIMB China XLX Fertiliser 0.6 0.72 Outperform
05/21/10 CIMB China XLX Fertiliser 0.52 0.72 Outperform PER7x
06/10/10 CIMB China XLX Fertiliser 0.495 0.72 Outperform PER7x
07/29/10 CIMB China XLX Fertiliser 0.53 0.72 Outperform PER7x
09/14/10 CIMB China XLX Fertiliser 0.555 0.72 Outperform PER7x
09/27/10 CIMB China XLX Fertiliser 0.58 0.72 Outperform PER7x
10/27/10 CIMB China XLX Fertiliser 0.59 0.71 Outperform PER7x
10/28/10 CIMB China XLX Fertiliser 0.58 0.71 Outperform PER7x
12/01/10 CIMB China XLX Fertiliser 0.59 0.71 Outperform PER7x

01/04/10 DBS Vickers China XLX Fertiliser 0.68 0.35 Fully Valued
01/08/10 DBS Vickers China XLX Fertiliser 0.67 0.35 Fully Valued
02/24/10 DBS Vickers China XLX Fertiliser 0.52 0.54 Hold PER12x
07/30/10 DBS Vickers China XLX Fertiliser 0.53 0.68 Buy PER14x
09/14/10 DBS Vickers China XLX Fertiliser 0.555 0.66 Buy PER14x
09/27/10 DBS Vickers China XLX Fertiliser 0.58 0.66 Buy
10/28/10 DBS Vickers China XLX Fertiliser 0.58 0.66 Buy PER14x
11/25/10 DBS Vickers China XLX Fertiliser 0.59 0.66 Buy

China Sunsine - Buy calls from analysts.

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

05/03/10 AmFraser China Sunsine 0.245 0.405 Buy
08/02/10 AmFraser China Sunsine 0.255 0.46 Buy

01/07/10 phillip China Sunsine 0.235 0.34 Buy PER7.5x
03/01/10 phillip China Sunsine 0.235 0.34 Buy PER7.5x
04/30/10 phillip China Sunsine 0.25 0.34 Buy PER7.5x
08/04/10 phillip China Sunsine 0.245 0.35 Buy PER7.5x
09/29/10 phillip China Sunsine 0.245 0.35 Buy
11/02/10 phillip China Sunsine 0.275 0.36 Buy PER7.5x
12/15/10 phillip China Sunsine 0.275 0.36 Buy

China Sports - Avoid call by Lim & Tan.

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

01/08/10 DBS Vickers China Sports 0.175 0.26 Buy PER8x
01/25/10 DBS Vickers China Sports 0.21 0.3 Buy PER8x
03/01/10 DBS Vickers China Sports 0.16 0.18 Hold PER6x
05/21/10 DBS Vickers China Sports 0.12 0.11 Fully Valued PER5x

11/24/10 Lim & Tan China Sports 0.11 0 Avoid

China Sky - Falling from the sky!

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

01/08/10 DBS Vickers China Sky 0.2 0.14 Fully Valued
03/02/10 DBS Vickers China Sky 0.19 0.14 Fully Valued PB0.2x, PER6.6x
05/17/10 DBS Vickers China Sky 0.18 0.14 Fully Valued PER6.6x, PB0.2x

China Minzhong - Buy calls from analysts.

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

11/15/10 CIMB China Minzhong 1.24 1.65 Outperform PER6.3x

09/07/10 DBS Vickers China Minzhong 1.37 1.58 Buy DCF
09/27/10 DBS Vickers China Minzhong 1.39 1.58 Buy
11/19/10 DBS Vickers China Minzhong 1.25 1.6 Buy PER10.3x

07/13/10 DMG & Partners China Minzhong 1.2 1.68 Buy PER9x
07/14/10 DMG & Partners China Minzhong 1.2 1.68 Buy
08/23/10 DMG & Partners China Minzhong 1.3 1.68 Buy
08/25/10 DMG & Partners China Minzhong 1.27 1.68 Buy Under Review
09/01/10 DMG & Partners China Minzhong 1.28 1.78 Buy PER9x
09/13/10 DMG & Partners China Minzhong 1.38 1.78 Buy
10/22/10 DMG & Partners China Minzhong 1.37 1.78 Buy
11/16/10 DMG & Partners China Minzhong 1.24 1.78 Buy

09/08/10 Lim & Tan China Minzhong 1.38 0 Buy
10/04/10 Lim & Tan China Minzhong 1.37 0 Buy
11/12/10 Lim & Tan China Minzhong 1.25 0 Buy Near IPO price of $1.20
11/15/10 Lim & Tan China Minzhong 1.24 0 Buy PER7x

11/24/10 Macquarie China Minzhong 1.27 1.8 Buy

China Merchant - Buy call from DBS Vickers.

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

01/08/10 DBS Vickers China Merchant 0.61 0.81 Buy
02/26/10 DBS Vickers China Merchant 0.64 0.81 Buy

China Hongxing - Lim & Tan is very concerned about this stock.

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

01/08/10 DBS Vickers China Hongxing 0.2 0.22 Hold
03/02/10 DBS Vickers China Hongxing 0.175 0.13 Fully Valued PER15x

04/16/10 DMG & Partners China Hongxing 0.155 0.22 Buy PB0.7x
04/19/10 DMG & Partners China Hongxing 0.155 0.22 Buy PB0.7x
07/29/10 DMG & Partners China Hongxing 0.155 0.22 Buy
08/12/10 DMG & Partners China Hongxing 0.155 0.22 Buy
09/09/10 DMG & Partners China Hongxing 0.2 0.22 Buy
10/15/10 DMG & Partners China Hongxing 0.19 0.22 Buy

02/05/10 Lim & Tan China Hongxing 0.175 0 Buy
02/18/10 Lim & Tan China Hongxing 0.175 0 Buy
03/02/10 Lim & Tan China Hongxing 0.175 0 Sell
03/18/10 Lim & Tan China Hongxing 0.15 0 Sell
05/13/10 Lim & Tan China Hongxing 0.135 0 Sell
05/27/10 Lim & Tan China Hongxing 0.12 0 Sell
08/11/10 Lim & Tan China Hongxing 0.155 0 Sell
09/09/10 Lim & Tan China Hongxing 0.2 0 Sell Receivables & Prepayments Risks

Market analyses for US market (Dow Jones Industrial Average Index), Japan market (Nikkei 225 Index), Hong Kong market (Hang Seng Index) & Singapore market (Straits Times Index)

The chart dated 01/01/11 above indicated declining trading volumes due to end of the year festivals and there were not much window dressings done by the funds as DJIA was only moving sideways.

The chart dated 01/01/11 above indicated the same phemonemon in Japan.

The chart dated 01/01/11 indicated the same phemonemon in Hong Kong market.

The chart dated 01/01/11 indicated the same phemonemon in Singapore market.

China Fishery - Not everyone likes fishing.

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

01/21/10 CIMB China Fishery 1.86 2.3 Outperform PER11x
02/11/10 CIMB China Fishery 1.7 2.3 Outperform PER11x
04/30/10 CIMB China Fishery 2.16 2.3 Outperform
06/22/10 CIMB China Fishery 1.94 1.6 Underperform PER7.6x
06/30/10 CIMB China Fishery 1.83 1.7 Neutral PER9.4x
08/11/10 CIMB China Fishery 1.87 1.75 Neutral PER9.4x
09/22/10 CIMB China Fishery 1.94 1.75 Neutral PER9.4x
11/26/10 CIMB China Fishery 2.18 2.55 Outperform PER12.5x
12/21/10 CIMB China Fishery 2.27 2.55 Outperform PER12.5x

01/04/10 DBS Vickers China Fishery 1.32 1.63 Buy PER8x
01/08/10 DBS Vickers China Fishery 1.41 1.63 Buy
02/11/10 DBS Vickers China Fishery 1.7 2.5 Buy PER10x
05/13/10 DBS Vickers China Fishery 2.15 2.5 Buy PER10x
06/30/10 DBS Vickers China Fishery 1.83 2.2 Buy PER10x
07/12/10 DBS Vickers China Fishery 2 2.12 Hold PER10x
08/11/10 DBS Vickers China Fishery 1.87 2.12 Hold PER10x
11/26/10 DBS Vickers China Fishery 2.18 1.83 Fully Valued PER10x
12/20/10 DBS Vickers China Fishery 2.26 2.38 Fully Valued PER13x

10/08/10 Deutsche China Fishery 2.1 2.6 Buy PER11x

01/14/10 DMG & Partners China Fishery 1.88 1.84 Neutral PER7.1x
01/22/10 DMG & Partners China Fishery 1.87 2.4 Buy PER9.3x
02/11/10 DMG & Partners China Fishery 1.7 2.4 Buy PER9.3x
02/18/10 DMG & Partners China Fishery 1.8 2.4 Buy
04/20/10 DMG & Partners China Fishery 2.15 2.4 Buy
05/14/10 DMG & Partners China Fishery 2.15 2.4 Buy PER8.6x
05/19/10 DMG & Partners China Fishery 2.05 2.4 Buy PER8.6x
06/03/10 DMG & Partners China Fishery 1.83 2.4 Buy PER8.6x
06/30/10 DMG & Partners China Fishery 1.83 2.1 Buy PER8.6x
07/21/10 DMG & Partners China Fishery 1.97 1.98 Neutral PER8.6x
08/11/10 DMG & Partners China Fishery 1.87 1.98 Neutral PER8.6x
11/26/10 DMG & Partners China Fishery 2.18 2 Neutral PER9.2x
12/21/10 DMG & Partners China Fishery 2.26 2 Neutral PER9.2x

China Essence - Downgraded by Lim & Tan.

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

02/10/10 Lim & Tan China Essence 0.39 0 Buy
06/03/10 Lim & Tan China Essence 0.42 0 Hold

China Environment - Buy call from DMG.

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

10/22/10 DMG & Partners China Environment 0.255 0.32 Buy PATMI