Silverlake - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/07/16	Deloitte	Silverlake	0.6	0.66	Hold	DCF
01/07/16	DMG & Partners	Silverlake	0.6	0.75	Buy	PER17x FY16
01/22/16	UOB Kay Hian	Silverlake	0.535	0.66	Hold	DCF, Buy @ $0.53
02/15/16	CIMB	Silverlake	0.56	0.6	Hold	DCF
02/15/16	DMG & Partners	Silverlake	0.56	0.75	Buy	DCF, PER17x FY16
02/15/16	UOB Kay Hian	Silverlake	0.56	0.64	Hold	Sum of parts, Buy @ $0.51
03/31/16	UOB Kay Hian	Silverlake	0.62	0.64	Hold
05/13/16	CIMB	Silverlake	0.545	0.6	Add	DCF
05/13/16	DMG & Partners	Silverlake	0.545	0.68	Buy	DCF
06/03/16	DMG & Partners	Silverlake	0.51	0.68	Buy	DCF
07/05/16	DMG & Partners	Silverlake	0.525	0.68	Buy
08/29/16	CIMB	Silverlake	0.585	0.68	Add	DCF
08/29/16	DMG & Partners	Silverlake	0.585	0.77	Buy
11/14/16	CIMB	Silverlake	0.625	0.67	Add	DCF
11/14/16	DMG & Partners	Silverlake	0.625	0.77	Buy	DCF
02/16/17	CIMB	Silverlake	0.58	0.65	Add	DCF
02/16/17	DMG & Partners	Silverlake	0.58	0.7	Buy	DCF
05/17/17	CIMB	Silverlake	0.53	0.65	Add	DCF
05/17/17	DMG & Partners	Silverlake	0.53	0.65	Buy	DCF
06/02/17	CIMB	Silverlake	0.535	0.65	Add	DCF

SIIC - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/26/16	Deutsche	SIIC	0.635	1.4	Buy
02/25/16	Credit Suisse	SIIC	0.68	1.5	Outperform
02/25/16	DMG & Partners	SIIC	0.68	1.26	Buy
03/03/16	Credit Suisse	SIIC	0.68	1.1	Outperform
04/28/16	DBS Vickers	SIIC	0.7	0.69	Hold
06/01/16	Credit Suisse	SIIC	0.65	0.9	Outperform
08/15/16	DMG & Partners	SIIC	0.595	1.26	Buy
08/16/16	DBS Vickers	SIIC	0.605	0.69	Buy	PER25x FY17
09/02/16	DBS Vickers	SIIC	0.59	0.69	Buy
10/19/16	DBS Vickers	SIIC	0.58	0.78	Buy
11/09/16	DMG & Partners	SIIC	0.635	1.13	Buy
12/07/16	Deutsche	SIIC	0.62	0.91	Buy
01/03/17	DMG & Partners	SIIC	0.59	1.13	Buy	DCF
01/17/17	DBS Vickers	SIIC	0.565	0.68	Buy	PER25x FY17
02/17/17	DMG & Partners	SIIC	0.58	0.96	Buy	DCF, PER20x FY17
04/26/17	DMG & Partners	SIIC	0.53	0.96	Buy
08/14/17	DMG & Partners	SIIC	0.465	0.82	Buy	DCF
08/15/17	DBS Vickers	SIIC	0.46	0.53	Hold	PER22x
10/11/17	DBS Vickers	SIIC	0.52	0.53	Hold	PER22x FY17
11/10/17	DMG & Partners	SIIC	0.515	0.54	Neutral	DCF
12/27/17	DBS Vickers	SIIC	0.515	0.53	Hold

SIA Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/16	UOB Kay Hian	SIA Engineering	3.7	3.3	Sell
02/02/16	CIMB	SIA Engineering	3.41	3.62	Hold	DCF
02/02/16	DBS Vickers	SIA Engineering	3.41	3.84	Buy
02/02/16	Kim Eng	SIA Engineering	3.41	3.61	Hold	PER20x FY17
02/02/16	Lim & Tan	SIA Engineering	3.41	0	Hold
02/02/16	OCBC	SIA Engineering	3.41	3.7	Hold
02/02/16	phillip	SIA Engineering	3.41	3.35	Neutral	DCF
02/02/16	UOB Kay Hian	SIA Engineering	3.41	3.36	Sell
02/25/16	UOB Kay Hian	SIA Engineering	3.46	3.19	Sell	DCF
03/28/16	UOB Kay Hian	SIA Engineering	3.56	3.19	Sell
04/01/16	UOB Kay Hian	SIA Engineering	3.6	3.19	Sell
05/11/16	Lim & Tan	SIA Engineering	3.79	0	Buy
05/11/16	UOB Kay Hian	SIA Engineering	3.79	3.4	Sell	DCF
05/12/16	CIMB	SIA Engineering	3.8	4.16	Add	DCF
05/12/16	DBS Vickers	SIA Engineering	3.8	3.84	Hold
05/12/16	Kim Eng	SIA Engineering	3.8	3.7	Hold
05/12/16	OCBC	SIA Engineering	3.8	3.7	Hold
05/12/16	phillip	SIA Engineering	3.8	3.51	Neutral	DCF
06/07/16	UOB Kay Hian	SIA Engineering	3.88	3.4	Sell
07/14/16	UOB Kay Hian	SIA Engineering	3.75	3.4	Sell
07/27/16	CIMB	SIA Engineering	3.75	4.16	Add	DCF
07/27/16	DBS Vickers	SIA Engineering	3.75	3.81	Hold
07/27/16	Kim Eng	SIA Engineering	3.75	3.7	Hold	PER20x FY18
07/27/16	Lim & Tan	SIA Engineering	3.75	0	Hold
07/27/16	OCBC	SIA Engineering	3.75	3.63	Hold
07/27/16	phillip	SIA Engineering	3.75	3.39	Reduce	DCF
09/16/16	UOB Kay Hian	SIA Engineering	3.85	3.4	Sell
10/06/16	OCBC	SIA Engineering	3.79	3.63	Hold
11/02/16	CIMB	SIA Engineering	3.7	4.16	Add	DCF
11/02/16	Kim Eng	SIA Engineering	3.7	3.7	Hold	PER20x FY18
11/02/16	Lim & Tan	SIA Engineering	3.7	0	Hold
11/02/16	UOB Kay Hian	SIA Engineering	3.7	3.4	Sell
11/03/16	CIMB	SIA Engineering	3.68	3.77	Hold	DCF
11/03/16	phillip	SIA Engineering	3.68	3.28	Reduce	DCF
11/03/16	UOB Kay Hian	SIA Engineering	3.68	3.3	Sell	DCF, PER24x FY18
11/04/16	DBS Vickers	SIA Engineering	3.66	3.53	Hold
01/03/17	UOB Kay Hian	SIA Engineering	3.37	3.3	Sell
02/06/17	CIMB	SIA Engineering	3.52	3.77	Hold	DCF
02/06/17	DBS Vickers	SIA Engineering	3.52	3.58	Hold	Sum of parts
02/06/17	Kim Eng	SIA Engineering	3.52	3.7	Hold	PER20x FY18
02/06/17	OCBC	SIA Engineering	3.52	3.58	Hold	DCF
02/06/17	phillip	SIA Engineering	3.52	3.38	Neutral	DCF
02/06/17	UOB Kay Hian	SIA Engineering	3.52	3.3	Sell	DCF
03/02/17	UOB Kay Hian	SIA Engineering	3.67	3.3	Sell
04/05/17	UOB Kay Hian	SIA Engineering	3.7	3.3	Sell
04/06/17	Lim & Tan	SIA Engineering	3.7	0	Hold	PER24x FY17/18
05/16/17	CIMB	SIA Engineering	3.98	3.98	Hold	DCF
05/16/17	DBS Vickers	SIA Engineering	3.98	3.84	Hold	Sum of parts
05/16/17	OCBC	SIA Engineering	3.98	3.75	Hold	DDM
05/16/17	phillip	SIA Engineering	3.98	3.7	Neutral	DCF, PER23.4x FY18
05/16/17	UOB Kay Hian	SIA Engineering	3.98	3.5	Sell	DCF, PER26x FY18
06/06/17	UOB Kay Hian	SIA Engineering	3.94	3.5	Sell
06/07/17	OCBC	SIA Engineering	3.97	3.75	Hold
06/22/17	Lim & Tan	SIA Engineering	4.16	0	Hold
06/28/17	CIMB	SIA Engineering	4.17	3.86	Reduce	DCF
07/03/17	OCBC	SIA Engineering	4.08	3.75	Hold
07/10/17	UOB Kay Hian	SIA Engineering	4.06	3.6	Sell	DCF, PER23x FY18
07/26/17	phillip	SIA Engineering	3.87	3.7	Reduce	DCF, PER24.9x FY18
07/26/17	CIMB	SIA Engineering	3.87	3.86	Reduce	DCF
07/26/17	OCBC	SIA Engineering	3.87	3.7	Hold
07/26/17	DBS Vickers	SIA Engineering	3.87	3.84	Hold	Sum of parts
08/02/17	DIR	SIA Engineering	3.54	4.1	Outperform	DCF
08/17/17	UOB Kay Hian	SIA Engineering	3.49	3.6	Sell	DCF, PER23.7x FY18
10/12/17	Crucial Perspective	SIA Engineering	3.18	4.5	Outperform
11/07/17	UOB Kay Hian	SIA Engineering	3.3	3.5	Hold	DCF, Buy @ $3.10-3.15
11/07/17	phillip	SIA Engineering	3.3	3.35	Neutral	DCF, PER24.6x FY18
11/07/17	OCBC	SIA Engineering	3.3	3.35	Hold
11/07/17	Kim Eng	SIA Engineering	3.3	3.5	Hold	PER21x FY19
11/07/17	CIMB	SIA Engineering	3.3	3.7	Reduce
12/18/17	DIR	SIA Engineering	3.11	3.56	Outperform
01/30/18	UOB Kay Hian	SIA Engineering	3.26	4	Buy	DCF, PER24.9x FY18
02/05/18	UOB Kay Hian	SIA Engineering	3.33	4	Buy	DCF
02/05/18	phillip	SIA Engineering	3.33	3.51	Accumulate	DCF
02/05/18	Kim Eng	SIA Engineering	3.33	3.5	Hold	PER21x FY19
02/05/18	CIMB	SIA Engineering	3.33	3.13	Reduce	DCF
02/05/18	Lim & Tan	SIA Engineering	3.33	0	Hold
02/05/18	OCBC	SIA Engineering	3.33	3.7	Buy	DCF
02/05/18	DBS Vickers	SIA Engineering	3.33	3.86	Buy

Stock calls for 6 March 2018

Date	Analyst	Company	Last	Target	Call	Valuation
03/06/18	UOB Kay Hian	A-Reit	2.58	2.76	Buy
03/06/18	UOB Kay Hian	CapitaCommercial	1.7	1.91	Buy
03/06/18	UOB Kay Hian	CDL Hospitality	1.65	1.82	Buy
03/06/18	OCBC	Frasers Centrepoint Trust	2.18	2.49	Buy
03/06/18	OCBC	Frasers Logistics	1.07	1.25	Buy
03/06/18	DMG & Partners	GSS Energy	0.16	0.25	Buy	Sum of parts
03/06/18	DBS Vickers	Keppel Corp	7.63	10.2	Buy
03/06/18	OCBC	Mapletree Logistics	1.2	1.48	Buy
03/06/18	CIMB	Powermatic	1.39	2.58	Add	Sum of parts, PER12.8x FY19
03/06/18	DBS Vickers	Sembcorp Marine	1.9	2.9	Buy
03/06/18	DBS Vickers	Singapore Post	1.33	1.61	Buy
03/06/18	DBS Vickers	UOL	8.38	10.23	Buy	RNAV (15% discount)

Singapore Airline (SIA) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/06/16	UOB Kay Hian	SIA	11.12	12	Hold
01/12/16	CIMB	SIA	10.96	12.83	Add
01/13/16	UOB Kay Hian	SIA	10.98	14	Buy	PB1x
01/26/16	Deutsche	SIA	10.86	10.7	Hold
02/01/16	UOB Kay Hian	SIA	11.03	14	Buy	PB1x FY17
02/05/16	CIMB	SIA	10.82	13	Add	PB1.1x FY16
02/05/16	Lim & Tan	SIA	10.82	0	Buy
02/10/16	Credit Suisse	SIA	11.24	14	Outperform
02/10/16	OCBC	SIA	11.24	11.7	Hold	PB1x FY17
02/10/16	UOB Kay Hian	SIA	11.24	13.9	Buy	PB1x FY17
03/03/16	CIMB	SIA	11.38	13	Add
03/03/16	Lim & Tan	SIA	11.38	12.52	Buy	Bloomberg consensus
03/04/16	OCBC	SIA	11.55	11.7	Hold
03/16/16	UOB Kay Hian	SIA	11.41	13.9	Buy	PB1x FY17
03/18/16	OCBC	SIA	11.45	12.5	Buy	PB1.1x FY17
04/01/16	UOB Kay Hian	SIA	11.42	13.9	Buy	PB1x FY17
04/11/16	OCBC	SIA	11.32	12.5	Buy
04/19/16	DBS Vickers	SIA	11.46	13.3	Buy	PB1.1x FY17
04/21/16	Kim Eng	SIA	11.6	11.8	Hold	PB1x FY17
04/28/16	Credit Suisse	SIA	11.47	14	Outperform
04/28/16	Deutsche	SIA	11.47	10.85	Hold
05/11/16	Credit Suisse	SIA	11.34	14.6	Outperform	EV/CFMV 121%, EV/Ebitda5.1x FY17
05/13/16	CIMB	SIA	11.63	12.42	Hold	PB1.1x
05/13/16	Lim & Tan	SIA	11.63	0	Buy
05/13/16	UOB Kay Hian	SIA	11.63	13.9	Buy
05/16/16	Credit Suisse	SIA	11	14.1	Outperform
05/16/16	DBS Vickers	SIA	11	12.5	Buy
05/16/16	Kim Eng	SIA	11	11.5	Hold	PB1x FY17
05/16/16	OCBC	SIA	11	12	Buy
05/16/16	UOB Kay Hian	SIA	11	11.6	Hold	PB0.9x FY17, Buy @ $10.20
06/02/16	HSBC	SIA	10.68	11.2	Neutral	Cut from $12
06/10/16	DBS Vickers	SIA	10.6	12.5	Buy
06/13/16	Credit Suisse	SIA	10.57	14.1	Outperform
06/16/16	UOB Kay Hian	SIA	10.52	11.6	Buy	PB0.9x FY17
06/20/16	Deutsche	SIA	10.56	10.85	Hold
06/20/16	OCBC	SIA	10.56	12	Buy
06/28/16	Kim Eng	SIA	10.4	10	Hold	PB0.87x
07/15/16	Credit Suisse	SIA	10.99	14.1	Outperform
07/15/16	Deutsche	SIA	10.99	9.8	Hold
07/19/16	UOB Kay Hian	SIA	11.08	11.5	Hold	PB0.9x FY17 Ex-SIAEC, Buy @ $10.30
07/29/16	Credit Suisse	SIA	11.2	13.3	Outperform
08/01/16	CIMB	SIA	10.98	12.67	Hold	PB1.1x CY16
08/02/16	OCBC	SIA	11.01	11.56	Hold	PB1x FY17
08/02/16	UOB Kay Hian	SIA	11.01	10.2	Hold	PB0.73x, Buy @ $9.50
08/03/16	DBS Vickers	SIA	10.61	12.6	Buy
09/01/16	OCBC	SIA	10.5	11.56	Hold
09/02/16	UOB Kay Hian	SIA	10.62	10.2	Hold
09/16/16	UOB Kay Hian	SIA	10.49	10	Hold	Buy @ $9
09/23/16	OCBC	SIA	10.57	10.8	Hold	PB0.9x FY17
10/18/16	Credit Suisse	SIA	10.24	10.1	Neutral	PB0.9x
10/18/16	UOB Kay Hian	SIA	10.24	10	Hold	PB0.73x FY17 ex-SIAEC, Buy @ $9
10/31/16	Kim Eng	SIA	10.14	9.7	Hold	PB0.86x FY17
11/04/16	CIMB	SIA	10.11	10.47	Hold	PB0.9x
11/04/16	Lim & Tan	SIA	10.11	0	Hold
11/04/16	UOB Kay Hian	SIA	10.11	10	Hold	PB0.73x FY17 ex-SIAEC, Buy @ $9
11/07/16	Credit Suisse	SIA	9.95	10.1	Neutral
11/07/16	DBS Vickers	SIA	9.95	10.2	Hold	PB0.9x
11/07/16	Deutsche	SIA	9.95	8.9	Hold
11/07/16	Kim Eng	SIA	9.95	9.7	Hold	PB0.86x
11/07/16	OCBC	SIA	9.95	10.22	Hold	PB0.9x FY17
11/07/16	UOB Kay Hian	SIA	9.95	10.1	Hold	PB0.7x FY17 ex-SIAEC, Buy @ $9.50
12/06/16	CIMB	SIA	9.8	10.47	Hold	PB0.9x CY17
12/07/16	Deutsche	SIA	9.73	8.9	Hold
12/14/16	Lim & Tan	SIA	9.8	0	Hold
12/16/16	UOB Kay Hian	SIA	9.74	10.1	Hold	PB0.7x FY17, Buy @ $8.90
01/10/17	DIR	SIA	9.83	8.62	Underperform	PB0.8x FY17
01/11/17	UOB Kay Hian	SIA	9.86	10.1	Hold
02/08/17	CIMB	SIA	9.72	10.5	Hold	PB0.9x CY17
02/08/17	DBS Vickers	SIA	9.72	10.1	Hold	PB0.9x FY17
02/08/17	DIR	SIA	9.72	8.62	Underperform	PB0.8x FY17
02/08/17	Kim Eng	SIA	9.72	9.7	Hold	PB0.86x FY17
02/08/17	Lim & Tan	SIA	9.72	0	Sell
02/08/17	UOB Kay Hian	SIA	9.72	10.1	Hold	PB0.7x FY17 ex-SIAEC
02/09/17	Credit Suisse	SIA	9.8	10.2	Neutral
02/09/17	OCBC	SIA	9.8	10.36	Hold
02/09/17	UOB Kay Hian	SIA	9.8	10.4	Hold	PB0.7x FY18 ex-SIAEC, Buy @ $9.60
03/08/17	UOB Kay Hian	SIA	9.95	10.4	Hold	PB0.7x FY18 ex-SIAEC, Buy @ $9.90
03/17/17	Lim & Tan	SIA	9.97	0	Hold
03/22/17	OCBC	SIA	10.04	10.36	Hold
04/05/17	UOB Kay Hian	SIA	10.27	10.4	Hold	PB0.7x FY18 ex-SIAEC, Buy @ $9.90
05/05/17	UOB Kay Hian	SIA	10.35	10.4	Hold	PB0.7x FY17 ex-SIAEC
05/19/17	DIR	SIA	10.76	9.06	Underperform	PB0.8x FY18
05/19/17	Lim & Tan	SIA	10.76	0	Sell
05/19/17	UOB Kay Hian	SIA	10.76	10.1	Hold	PB0.7x FY17 ex-SIAEC
05/22/17	CIMB	SIA	9.98	10	Reduce	PB0.9x
05/22/17	Credit Suisse	SIA	9.98	10	Neutral	PB0.9x FY18
05/22/17	DBS Vickers	SIA	9.98	10.1	Hold	PB0.9x
05/22/17	OCBC	SIA	9.98	10.03	Hold	PB0.9x FY18
05/22/17	UOB Kay Hian	SIA	9.98	10	Hold	PB0.7x FY17 ex-SIAEC, Buy @ $9
06/06/17	UOB Kay Hian	SIA	10.03	10	Hold	Buy @ $9
06/12/17	Credit Suisse	SIA	10.08	10	Neutral
06/23/17	OCBC	SIA	9.94	10.03	Hold
06/29/17	DIR	SIA	10.08	9.06	Underperform	PB0.8x FY18
07/03/17	UOB Kay Hian	SIA	10.12	10	Hold
07/27/17	Kim Eng	SIA	10.13	10.85	Hold	PB0.93x FY18
07/28/17	DIR	SIA	10.15	9.06	Underperform
07/31/17	CIMB	SIA	10.28	10	Reduce	PB0.9x
08/01/17	UOB Kay Hian	SIA	10.39	10.1	Hold	Sum of parts, Buy @ $9.10
08/01/17	OCBC	SIA	10.39	10.1	Hold	PB0.9x FY18
08/14/17	CIMB	SIA	10.59	10.42	Hold	PB0.9x
08/30/17	DIR	SIA	10.29	9.06	Underperform	PB0.8x FY18
09/05/17	OCBC	SIA	10.25	10.1	Hold
09/19/17	UOB Kay Hian	SIA	10.2	10.1	Hold	PB0.7x FY18, Buy @ $9.50 or lower
09/19/17	DIR	SIA	10.2	9.06	Underperform	PB0.8x FY18
10/12/17	Crucial Perspective	SIA	10.16	11.1	Outperform
10/27/17	UOB Kay Hian	SIA	10.22	10.1	Hold
11/08/17	UOB Kay Hian	SIA	10.32	11.1	Hold	PB0.8x, Buy @ $10.3
11/09/17	OCBC	SIA	10.75	10.5	Hold	PB0.9x FY18
11/09/17	Credit Suisse	SIA	10.75	10.25	Neutral	PB0.9x
11/09/17	CIMB	SIA	10.75	10.82	Hold
11/09/17	DBS Vickers	SIA	10.75	10.3	Hold	PB0.9x FY18
11/09/17	Kim Eng	SIA	10.75	10.95	Hold	PB0.93x FY18
12/20/17	CIMB	SIA	10.65	10.82	Hold
01/03/18	UOB Kay Hian	SIA	10.67	11.9	Buy	PB0.9x FY18
01/03/18	OCBC	SIA	10.67	10.5	Hold
01/31/18	DBS Vickers	SIA	11.31	10.55	Hold
02/09/18	Kim Eng	SIA	10.86	10.95	Hold	PB0.93x FY18
02/14/18	CIMB	SIA	10.62	12.05	Add	PB1x CY18
02/14/18	UOB Kay Hian	SIA	10.62	11.9	Buy	PB0.9x FY18
02/14/18	DBS Vickers	SIA	10.62	12	Buy	PB1x FY19
02/15/18	OCBC	SIA	11.15	10.85	Hold	PB0.9x FY18
02/15/18	Credit Suisse	SIA	11.15	10.7	Neutral

Sheng Siong - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/16	OCBC	Sheng Siong	0.83	0.95	Buy
01/11/16	DIR	Sheng Siong	0.83	0.95	Outperform	DCF
01/12/16	DBS Vickers	Sheng Siong	0.825	1.01	Buy
01/13/16	DMG & Partners	Sheng Siong	0.83	1.05	Buy	DCF, PER25x
02/24/16	CIMB	Sheng Siong	0.865	0.95	Add	PER22x CY17
02/24/16	DBS Vickers	Sheng Siong	0.865	1.01	Buy
02/24/16	DIR	Sheng Siong	0.865	0.94	Outperform	DCF, PER19.2x
02/24/16	DMG & Partners	Sheng Siong	0.865	1	Buy
02/25/16	OCBC	Sheng Siong	0.87	0.95	Buy	DCF
02/26/16	phillip	Sheng Siong	0.86	0.97	Accumulate	PER23x FY16
03/17/16	CIMB	Sheng Siong	0.85	0.95	Add
03/28/16	OCBC	Sheng Siong	0.84	0.95	Buy
04/11/16	CIMB	Sheng Siong	0.84	0.95	Add	PER22x CY17
04/15/16	DBS Vickers	Sheng Siong	0.865	1.01	Buy
04/28/16	DBS Vickers	Sheng Siong	0.89	1.04	Buy
04/28/16	DIR	Sheng Siong	0.89	0.94	Outperform	DCF
04/28/16	DMG & Partners	Sheng Siong	0.89	1	Buy
04/28/16	OCBC	Sheng Siong	0.89	0.95	Buy
04/29/16	CIMB	Sheng Siong	0.89	0.97	Add	PER22x CY17
04/29/16	DIR	Sheng Siong	0.89	0.97	Outperform	DCF
04/29/16	OCBC	Sheng Siong	0.89	0.95	Buy
04/29/16	phillip	Sheng Siong	0.89	0.97	Accumulate	PER23x
06/07/16	CIMB	Sheng Siong	0.895	0.97	Add	PER22x CY17
06/17/16	DIR	Sheng Siong	0.875	0.97	Outperform	DCF
06/24/16	OCBC	Sheng Siong	0.87	0.95	Buy
06/28/16	Kim Eng	Sheng Siong	0.865	1.12	Buy	DCF & PER22x FY17
07/05/16	DIR	Sheng Siong	0.89	0.97	Outperform	DCF
07/05/16	Kim Eng	Sheng Siong	0.89	1.12	Buy	DCF & PER22x FY17
07/27/16	CIMB	Sheng Siong	0.96	1.04	Add	PER22x CY17
07/27/16	DBS Vickers	Sheng Siong	0.96	1.09	Buy
07/27/16	Kim Eng	Sheng Siong	0.96	1.13	Buy	DCF & PER22x FY17
07/28/16	DIR	Sheng Siong	0.985	1.07	Outperform	DCF
07/28/16	DMG & Partners	Sheng Siong	0.985	1.12	Buy	DCF, PER24.5x FY17
07/28/16	phillip	Sheng Siong	0.985	1.1	Accumulate	PER23x FY17
08/25/16	DBS Vickers	Sheng Siong	1.08	1.09	Buy
08/25/16	OCBC	Sheng Siong	1.08	1.07	Buy
09/08/16	DIR	Sheng Siong	1.06	1.11	Outperform	DCF
09/16/16	UOB Kay Hian	Sheng Siong	1.06	1.13	Hold	PER25.1x FY17, Buy @ $1.01
09/21/16	OCBC	Sheng Siong	1.075	1.07	Buy
09/28/16	Kim Eng	Sheng Siong	1.07	1.13	Hold
09/30/16	DBS Vickers	Sheng Siong	1.07	1.18	Buy	PER25x FY17
10/05/16	OCBC	Sheng Siong	1.075	1.15	Buy	DCF
10/27/16	CIMB	Sheng Siong	1.07	1.14	Add	PER23.3x CY18
10/27/16	DBS Vickers	Sheng Siong	1.07	1.19	Buy	PER25x FY17
10/28/16	DIR	Sheng Siong	1.07	1.05	Hold	DCF
10/28/16	DMG & Partners	Sheng Siong	1.07	1.21	Buy	DCF
10/28/16	Kim Eng	Sheng Siong	1.07	1.06	Hold	DCF
10/28/16	phillip	Sheng Siong	1.07	1.13	Accumulate	PER23x FY17
10/28/16	UOB Kay Hian	Sheng Siong	1.07	1.12	Hold	PER25.1x FY17
11/22/16	OCBC	Sheng Siong	1	1.15	Buy
12/06/16	CIMB	Sheng Siong	1.015	1.14	Add	PER23.3x CY18
12/08/16	DIR	Sheng Siong	1.01	1.04	Hold	DCF, PER21.9x
12/09/16	DBS Vickers	Sheng Siong	1.01	1.19	Buy	PER25x FY17
12/09/16	UOB Kay Hian	Sheng Siong	1.01	1.12	Hold
12/14/16	Kim Eng	Sheng Siong	0.99	0.88	Sell	DCF & PER20x FY17
01/03/17	DMG & Partners	Sheng Siong	0.95	1.21	Buy	DCF, PER26x FY17
01/19/17	DBS Vickers	Sheng Siong	0.925	1.19	Buy
01/20/17	UOB Kay Hian	Sheng Siong	0.93	1.12	Buy	PER25.1x FY17
02/01/17	OCBC	Sheng Siong	0.93	1.15	Buy
02/07/17	DMG & Partners	Sheng Siong	0.95	1.21	Buy
02/24/17	DIR	Sheng Siong	0.955	1.04	Hold	DCF
02/27/17	CIMB	Sheng Siong	0.955	0.94	Hold	PER23.3x CY18
02/27/17	DBS Vickers	Sheng Siong	0.955	1.13	Buy	PER25x FY17
02/27/17	DIR	Sheng Siong	0.955	1.01	Hold	DCF
02/27/17	Kim Eng	Sheng Siong	0.955	0.85	Sell	DCF
02/27/17	phillip	Sheng Siong	0.955	1.06	Accumulate	PER23x
02/27/17	UOB Kay Hian	Sheng Siong	0.955	1.08	Buy	PER23.2x FY18
03/08/17	DMG & Partners	Sheng Siong	0.94	1.21	Buy	DCF
03/14/17	CIMB	Sheng Siong	0.94	0.94	Hold	PER23.3x CY18
03/17/17	DBS Vickers	Sheng Siong	0.935	1.13	Buy
04/10/17	DBS Vickers	Sheng Siong	0.995	1.13	Buy	PER25x FY17
04/17/17	phillip	Sheng Siong	0.99	1.06	Accumulate
05/02/17	DIR	Sheng Siong	0.98	1.01	Hold	DCF
05/02/17	DMG & Partners	Sheng Siong	0.98	1.21	Buy	DCF
05/02/17	OCBC	Sheng Siong	0.98	1.15	Buy
05/03/17	CIMB	Sheng Siong	0.975	0.94	Hold
05/03/17	DBS Vickers	Sheng Siong	0.975	1.14	Buy	PER25x FY17
05/03/17	Kim Eng	Sheng Siong	0.975	0.85	Sell	DCF
05/03/17	phillip	Sheng Siong	0.975	1.06	Accumulate	PER23x FY17
05/03/17	UOB Kay Hian	Sheng Siong	0.975	1.09	Buy	PER23.2x FY18
06/13/17	OCBC	Sheng Siong	0.98	1.15	Buy
06/14/17	DIR	Sheng Siong	0.985	1.01	Hold	DCF
06/16/17	DBS Vickers	Sheng Siong	0.975	1.14	Buy
06/21/17	DBS Vickers	Sheng Siong	0.975	1.2	Buy	PER25x FY18
07/04/17	DMG & Partners	Sheng Siong	1	1.21	Buy
07/14/17	OCBC	Sheng Siong	0.98	1.15	Buy
07/28/17	DIR	Sheng Siong	0.95	1.01	Hold	DCF
07/28/17	CIMB	Sheng Siong	0.95	0.94	Hold	PER23.3x CY18
07/28/17	DBS Vickers	Sheng Siong	0.95	1.2	Buy	PER25x FY18
07/31/17	DIR	Sheng Siong	0.96	0.86	Underperform	DCF
07/31/17	phillip	Sheng Siong	0.96	1.06	Accumulate	PER23x
07/31/17	UOB Kay Hian	Sheng Siong	0.96	1.06	Hold	PER23.2x FY18, Buy @ $0.90
07/31/17	DMG & Partners	Sheng Siong	0.96	1.05	Neutral	DCF & PER20x
07/31/17	OCBC	Sheng Siong	0.96	1.04	Buy
09/07/17	OCBC	Sheng Siong	0.92	1.04	Buy
10/27/17	DBS Vickers	Sheng Siong	0.93	1.19	Buy	PER25x FY18
10/27/17	DMG & Partners	Sheng Siong	0.93	0.98	Neutral	DCF & PER18x
10/27/17	DIR	Sheng Siong	0.93	0.88	Underperform	DCF
10/30/17	phillip	Sheng Siong	0.94	1.13	Buy	PER23x
10/30/17	UOB Kay Hian	Sheng Siong	0.94	1.06	Hold	PER22.5x FY18
10/30/17	OCBC	Sheng Siong	0.94	1.04	Buy
10/30/17	CIMB	Sheng Siong	0.94	0.98	Hold	PER22.6x CY18
11/20/17	DIR	Sheng Siong	0.965	0.88	Underperform	DCF
11/29/17	DMG & Partners	Sheng Siong	0.95	0.98	Neutral
12/04/17	phillip	Sheng Siong	0.935	1.18	Buy
02/19/18	DMG & Partners	Sheng Siong	0.915	0.99	Neutral	Up from $0.93
02/20/18	UOB Kay Hian	Sheng Siong	0.92	1.06	Hold
02/23/18	DBS Vickers	Sheng Siong	0.925	1.2	Buy	PER25x FY18
02/26/18	phillip	Sheng Siong	0.93	1.13	Buy	PER23x FY18
02/26/18	DMG & Partners	Sheng Siong	0.93	0.98	Neutral	DCF & PER
02/26/18	OCBC	Sheng Siong	0.93	1.06	Buy
02/26/18	CIMB	Sheng Siong	0.93	1.08	Add	PER22.3x CY19