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2010 July LMIR Trust: DPU disappoints on higher tax expenses CPO Sector: Near-term outlook positive SATS Limited: Strong execution in 1QFY11 CPO Sector: Near-term outlook positive Mapletree Logistics Trust: Acquisition frenzy continues Singapore Post: Cautiously optimistic on its outlook Telecom Sector: All three telcos to launch iPhone 4G Koda Ltd: Value emerging following sell-down over US economic concerns Ezion Holdings: Preference shares issue not dilutive in FY10 Mapletree Logistics Trust: Occupancy dips as manager re-positions assets Starhill Global REIT: 2Q10 in line; valuations still compelling Parkway Holdings Limited: Khazanah wins bidding war SIA Engineering: Gaining from aviation industry recovery Frasers Centrepoint Trust: 3Q10 in line; CP enhancement a go Ascott Residence Trust: 2Q10 in line; diversification creates both risks and opportunities Keppel Corporation: Another strong quarter of results Suntec REIT: 2Q10 results in line; occupancy up but rents down CapitaMall Trust: Asset enhancement remains a key growth engine Golden Agri: Committed towards sustainability CapitaCommercial Trust: 1H DPU of 3.9 S cents; CCT more positive on office sector Keppel Land Ltd: Overseas projects and associates drive 2Q10 Ezion Holdings: Second marine supply base in Australia OSIM International: 2Q10 driven by broad-based growth Viking Offshore & Marine: Acquisitions to boost capabilities Neptune Orient Lines: Recovery supported by tight demand-supply fundamentals Midas Holdings: Earnings growth to accelerate from 2H10 Ascendas REIT: 1Q DPU boosted by one-off items M1: 2Q10 results show margin improvement Property: Pre-sales momentum continued to slow in June City Developments Ltd: More positive newsflow Oil and Gas Sector: Updates on deepwater drilling ban Raffles Education: Focus on India expansion Ezion Holdings: Develops marine base in Australia Singapore Press Holdings: Robust growth from print and property segments Ezra Holdings: Good 3QFY10 results S-REITs: Guidance could diverge at 2Q10 results Keppel Land Ltd: Topping-out of Ocean Financial Centre Yangzijiang Shipbuilding: Able to capitalize on opportunities Straits Asia Resources: Maintain HOLD in anticipation of 2H10 recovery Semiconductor Industry: Stronger sequential growth in May Oil and Gas sector: Near term uncertainties Wilmar: Kick-starting its sugar ambition CapitaCommercial Trust: Rising on anticipation of StarHub Centre sale StarHub Ltd: Attractive Dividend Yield Oceanus Group Ltd: Short-term pain, long-term gain Genting Singapore: Selling off UK operations Singapore Property: 2Q10 flash estimates released Starhill Global REIT: Compelling investment case; initiate with BUY rating Parkway Holdings Limited: Fortis counters with S$3.2b offer OSIM International: Back on growth track Micro-Mechanics: Remains one of our top picks 2010 June United Envirotech: Surfing on China’s Growing Water Needs Ezion Holdings: Upside potential still available Neptune Orient Lines: On track for turnaround in FY10 Kingsmen Creatives: Reaping record earnings in good and bad times Li Heng: Operations are holding up AusGroup Ltd: New Australian PM signals shift in tone on Henry Tax. Valuetronics Holdings: Likely to benefit from good sales momentum Singapore Post: Limited upside potential for now CitySpring Infrastructure Trust: Updates on Basslink UOL Group Ltd: Another new launch in the pipeline Midas Holdings: Well-anchored amid global macroeconomic volatility LMIR Trust: Macro signals continue to show strength Yangzijiang Shipbuilding: China shipbuilding orders up Avi-Tech Electronics: Positive news may herald good sales recovery Golden Agri: Expanding China distribution reach CapitaMalls Asia Limited: A retail asset behemoth in Asia Oceanus Group Ltd: China’s torrential rains raise concerns KS Energy: Land rigs secure work Frasers Centrepoint Trust: Suburban retail still compelling Karin Technology: Likely beneficiary of electronics industry uptrend Telecoms Sector: Likely muted World Cup demand Singapore Property: Residential demand still healthy Commodities: Expect volatility ahead Hyflux Ltd: Potential SIWW catalyst Suntec REIT: Positive retail developments and opportunities Swiber Holdings: More opportunities in the pipeline UOL Group Ltd: Firm tourism data supports an improving hotel outlook Shipping trusts: Counterparty risks Venture Corp: Riding on robust manufacturing growth SATS Limited: IATA hikes 2010 aviation industry forecasts Olam International: Strengthening its Spices and Dehydrates business Oil and Gas sector: Thoughts on the Gulf of Mexico oil spill Raffles Education: AIF Capital scuttles OUC deal Semiconductor Industry: Global sales growth continued into April Noble Group Ltd: Broad market retreat presents buying opportunities Singapore Property: The fight for land continues AusGroup Ltd: Upgrading to HOLD on valuation Yangzijiang Shipbuilding: Thoughts on its exposure to Europe Straits Asia Resources: Negatives priced in; Upgrade to HOLD Singapore Property: High office vacancy rate still a concern Keppel Corporation: Progress on various fronts Mapletree Logistics Trust: Another round of acquisitions Wilmar: Expands operations in Africa CapitaCommercial Trust: Asset enhancement at 6 Battery Road 2010 May Infrastructure: Indiscriminate selling presents buying opportunities Parkway Holdings: Khazanah launches S$1.18b partial offer Genting: Encouraging tourist arrival numbers SMRT Corporation: Time to board the train Semiconductor Industry: Expect a banner year in 2010 CapitaMall Trust: Share price correction presents fresh buying opportunity Tat Hong Holdings: Finally out of the woods CitySpring Infrastructure Trust: Exposed to regulatory risk Wilmar: Worries of Indonesian Tax Fraud Overdone Singapore Property: 1Q10 Results review Oceanus Group Ltd: Reassessing the Ah Yat Tian Xia blueprint Industrial REITs: On stronger footing Valuetronics Holdings: Sales order gaining traction Oil and Gas sector: 1Q10 results wrap Telco Sector: 1QCY10 Scorecard; Maintain Overweight Shipping trusts: Not out of the woods yet Goodpack Limited: Ample room for growth; maintain BUY Singapore Property: Sales figures continue to impress KS Energy: Positive on longer-term outlook Neptune Orient Lines: Returning to profitability this year? SIA Engineering: Favourable business outlook Swiber Holdings: Better results; seeking listing for subsea services business Li Heng: Decent start to FY10 Olam International: 3Q10 results in line with expectations Singapore Telecom: Paring fair value to S$3.40 Genting: Roaring Start to 2010 Soilbuild Group Holdings Ltd: Still on track to deliver Wilmar: 1Q10 results mostly in line Golden Agri-Resources Ltd: Strong 1Q10 Showing Koda Ltd: On track for a turnaround in FY10 despite weak 3Q Parkway Holdings: Good start to 2010 UOL Group Ltd: Core PATMI growth remains strong City Developments Ltd: Earnings momentum remains strong ASL Marine: Results within expectations S-REITs: 1Q10 results review; downgrade sector to NEUTRAL Telecoms Sector: Minimal World Cup Boost FSL Trust: Dragged back into uncertainty CapitaLand Ltd: New Raffles City integrated development in Shenzhen Rotary Engineering: Good 1Q10 performance buoyed by SATORP Sembcorp Marine: 1Q10 results within expectations DBS: Still a BUY Avi-Tech Electronics: More affirmative outlook UOB: Raising fair value to S$19.40 LMIR Trust: 1Q10 misses the mark as rental guarantees expire Noble Group Ltd: Steady 1Q10 performance Midas Holdings: 1Q10 in line with expectations StarHub Ltd: Guides for lower EBITDA margins Hyflux Ltd: Seasonally Softer 1Q10 Oil and gas sector: Oil price still in a comfortable range SATS Limited: On board flight to recovery AusGroup Ltd: Below expectations again; downgrading to SELL Raffles Education: Muted 3QFY10 Results ST Engineering: Raises outlook in line with market expectations Micro-Mechanics: Robust 3QFY10 growth CapitaLand Ltd: China concerns overblown SMRT Corporation: Higher opex dents 4QFY10 earnings Singapore Post: FY10 results within expectations 2010 April Ascott Residence Trust: Mixed operating performance; DPU sub-expectation Venture Corp: 1Q10 show good margin pickup Low Keng Huat (Singapore) Ltd: Potential gain from Minton Rise launch City Developments Ltd: Strong demand at Tree House Viking Offshore and Marine: Eyeing more growth streams Straits Asia Resources: Net profit dives on margin erosion Golden Agri: Committed to sustainable CPO production Suntec REIT: 1Q10 results in line; office portfolio holds steady Commodities: 1Q10 results preview Micro-Mechanics: Buoyant outlook; upgrade to BUY Singapore Telecom: Adds 45k Pay TV subscribers Frasers Centrepoint Trust: 2Q10 outperforms; FCT already looking ahead Keppel Corporation: Higher margins boost net profit Mapletree Logistics Trust: Close to triggering pipeline Pacific Shipping Trust: 1Q results in line; ready and willing to acquire FSL Trust: Asset values edge up versus October CapitaMall Trust: Encouraging signs of growth Noble Group Ltd: Positioned for growth regardless of Macarthur deal Keppel Land Ltd: Strong earnings driven by Singapore projects Yangzijiang Shipbuilding: Eyeing offshore expertise Ascendas REIT: Results dragged by higher costs M1: Upgrades 2010 earnings guidance CapitaLand Ltd: No major surprises SGX: Pursuing various initiatives CapitaCommercial Trust: Better-than-expected 1Q10 results Singapore Property: Return of the mass market buyers Shipping trusts: 1Q10 results preview Li Heng: 2010 likely still recovery year Soilbuild Group Holdings Limited: Highest bidder for Yishun industrial site S-REITs: 1Q10 results preview Singapore Press Holdings: 2QFY10 lifted by print ad and property segments SIA Engineering: MRO market sees brighter outlook Yangzijiang Shipbuilding: Steadiness for the win M1 Ltd: Looking forward to NBN Ezra Holdings: Subsea vessels to come on-stream later Mermaid Maritime - Bullish breakout suggests better prospects ahead Singapore Post: Growth rate depends on investment decisions Semiconductor Industry: February sales saw continued growth Semiconductor Industry: February sales saw continued growth Noble Group Ltd: The tussle for coal Venture Corp: Revamps its P&I business SMRT Corporation: Visit to Circle Line Stages 1 and 2 UOL Group Ltd: Waterbank previewing this week Commodities: M&As to drive growth Golden Agri: Independent verification underway Offshore marine sector: Impact of changes in iron ore pricing Singapore Property: Signs of price stabilization showing CapitaMall Trust: Issues US$500m 5-year fixed rate notes Tat Hong Holdings Ltd: Project delays could dampen earnings recovery 2010 March AusGroup Ltd: Slow tendering activity clouding earnings visibility Valuetronics Holdings: Secured exclusive rights to use renowned brands StarHub: New Pay TV ruling more positive Neptune Orient Lines: Fragile road to recovery Office REITs: Comparing the four office REITs Keppel Corporation: Still attractive despite recent out-performance Keppel Land Ltd: Reflections reached a new milestone Swiber Holdings: In the running for a few projects Rickmers Maritime: Uncertainty driving volatility Noble Group Ltd: Share placement not dilutive Raffles Education: Potential resolution of OCL incident Singapore Post: Issues S$200m worth of notes Infrastructure: Earnings buoyed by robust capex Suntec REIT: Suntec Convention does deals with church, IR Golden Agri: Nestle Drops Sinar Mas as CPO Supplier Parkway Holdings: Launch of Novena medical suites sales CapitaCommercial Trust: Issues S$225m convertible bonds Shipping trusts: US peer looks for asset value recovery over 2-3 years Genting: Geared up for Universal Studios 18 Mar opening Ezra Holdings: Prospects remain bright Frasers Centrepoint Trust: Opportunities to create value. Offshore marine sector: Expecting a more vibrant offshore marine scene Techcomp: M&As likely to drive growth Telco Sector: Revamp of Pay TV Segment Singapore Property: Feb data reflects limited impact from government measures Koda Ltd: Earnings recovery backed by improving macro outlook SATS Limited: Ready to soar new heights LMIR Trust: Implications of Matahari Department Stores sale Singapore Property: Finding value among office landlords Singapore Rig Builders: Rig tender delay but fundamentals remain intact Valuetronics Holdings: Maintain BUY on brighter outlook Hyflux Ltd: Secures S$43.8m Jurong Island Job Commodities: Prefer supply chain managers over pure miners Hospitality REITs: Riding on earnings recovery CapitaCommercial Trust: Working towards refinancing Genting: Universal Studios opening on 18 Mar Land Transport Sector: Prospects looking bright Straits Asia Resources: Conference call with new CEO Oil and Gas: 4Q09 results wrap S-REITs: Upgrading to Overweight; Ascott & Suntec top picks Semiconductor Industry: Market recovery seems imminent Swiber Holdings: 2010 likely more back-end loaded Singapore Property: Good results overshadowed by policy uncertainties Wilmar: Focus on China, India and Indonesia in 2010 Shipping trusts: 4Q09 results review Venture Corp: Worst likely over; Upgrade to BUY Midas Holdings: Growth strategy on track UOB: Lower allowances in 4Q 2010 February Golden Agri-Resources Ltd: Focus on expansion in 2010 Li Heng: More signs of stabilization in 4Q09 Rotary Engineering: 4Q09 surpasses expectations Oceanus Group Ltd: Poorer-than-expected FY09 City Developments Ltd: Strong earnings underpinned by property development Hyflux Ltd: Strong S$1848m order book Straits Asia Resources: Too much room for uncertainty; downgrade to SELL Noble Group Ltd: FY09 buoyed by good 2H performance Parkway Holdings Limited: Delivering as expected UOL Group Ltd: Strong outlook remains intact Yangzijiang Shipbuilding: Good set of FY09 results Singapore Budget 2010: Focusing on improving productivity Sembcorp Marine: Achieves better-than-expected results Genting Singapore: Disappointing 4Q09 Results Singapore Property: More measures to pre-empt rising speculative activities ST Engineering: Expecting similar pre-tax profit in FY10 Swiber Holdings: Contract wins to support bottom-line Singapore Property: Strong recovery in January Ascendas REIT: Acquiring three properties for S$228.5m KS Energy: A year of integration and transition Tat Hong Holdings Ltd: Not out of the woods yet CitySpring Infrastructure Trust: DPU of 1.05 S cents, flat QoQ AusGroup Ltd: Subdued tendering activity disappoints Olam International: Delivers once again Neptune Orient Lines: Still premature to celebrate Genting: Opening of casino on 14 Feb 2010 CapitaLand Ltd: Strong performance underpinned by gain from CMA’s IPO Karin Technology: Slower-than-expected rebound Valuetronics Holdings: Strong showing in 3QFY10 LMIR Trust: Better visibility of 2010 earnings; upgrade to BUY ASL Marine Holdings: Softer set of results Koda Ltd: Regains its footing PARD: Higher catch volume Soilbuild Group Holdings Ltd: Delivering as promised Goodpack Limited: Sterling 2QFY10 results Avi-Tech Electronics: Operating performance likely to improve CapitaMall Trust: Acquiring Clarke Quay for S$268m Singapore Telecom: Relatively upbeat 3Q10 results Rickmers Maritime: April loan maturity is the next test Infrastructure: Backed by robust pipelines DBS Group: Remains a BUY City Developments Ltd: Top bidder for Sengkang residential site StarHub Ltd: 2010 outlook still quite positive SATS Limited: Commendable 3QFY10 results Raffles Education: Disappointing 2QFY10; but bottom may be near UOL Group Ltd: Valuation remains attractive Ezra Holdings: Remains a quality stock; upgrade to BUY. Neptune Orient Lines: Recovery underway Ascott Residence Trust: Still a compelling story Micro-Mechanics: CMA segment expected to improve DBS Group: Opportune time to buy Singapore Property: Is office market poised for recovery or still in doldrums? Singapore Post: Achieves better-than-expected results

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