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| Avi-Tech Electronics Limited - Initiating Coverage |
21 Nov, 2008 |
With net cash per share of $0.127, investors are effectively paying only $0.013 per share for the company.

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| Eastern Asia - 3Q08 results update |
18 Nov, 2008 |
Strong recovery

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| China Aviation Oil - 3Q08 Results Update |
18 Nov, 2008 |
We believe that the stock, having fallen 44.1% to its current price of $0.71 is now fully valued

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| Asia-Pacific Strategic Investments - Initiating Coverage |
17 Nov, 2008 |
Investment Highlights

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| Ntegrator International Ltd - Initiating Coverage |
13 Nov, 2008 |
We are initiating coverage on Ntegrator International Ltd (“Ntegrator”) with a HOLD recommendation and a target price of $0.034. This is based on a 6.4x FY08F P/E multiple.

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| Allied Technologies - 3Q08 results update |
12 Nov, 2008 |
Margins improving but outlook uncertain

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| Saizen REIT - Initiation Report |
11 Nov, 2008 |
Survival hinges on support from bankers and shareholders

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| Sim Lian Group Ltd - Results Update |
11 Nov, 2008 |
Prevailing concerns over high construction and debt costs

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| United Envirotech Ltd - 2Q09 results update |
10 Nov, 2008 |
Hurt by high raw material and staff costs

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| Pharmesis Intl Ltd - Results Update |
10 Nov, 2008 |
Pharmesis Intl Ltd - 3QFY08 Update

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| Eastern Asia - Initiating Coverage |
7 Nov, 2008 |
Restructuring process is almost done

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| CWT Limited - 3Q08 Results Update |
6 Nov, 2008 |
CWT reported its 3Q08 results with PATMI of $55.1m, up 722% y-o-y.

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| Hotung Investment - Initiation Report |
5 Nov, 2008 |
Macro-environment unfavourable for Venture Capital industry

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| GRP Limited - Initiating Coverage |
4 Nov, 2008 |
We value GRP at $0.154 per share and recommend a HOLD on the stock

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| Thakral Corp Ltd - Company Update |
24 Oct, 2008 |
Possible overhang from HLA stake? Not likely

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| Delong Holdings - Steel Production Cut Back |
24 Oct, 2008 |
Delong confirmed that it had shut down 4 of its older blast furnaces to cut back on steel production

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| Etika International Holdings Ltd - Initiation Report |
21 Oct, 2008 |
Defensive Basic Food and Beverage play

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| CWT Ltd - Initiating Coverage |
17 Oct, 2008 |
Our valuations indicate that CWT is trading at a deep discount to its fundamental value

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| United Envirotech Ltd - Initiating Coverage |
16 Oct, 2008 |
A membrane based water & wastewater treatment and reclamation solution provider

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| Willas-Array Electronics - Initiating Coverage |
15 Oct, 2008 |
Willas-Array Electronics - Initiating Coverage

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| Thakral Corp Ltd - Company Update |
14 Oct, 2008 |
EGM could mark turning point for the group

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| Tat Seng Packaging - Initiating Coverage |
8 Oct, 2008 |
Investment Highlights

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| LMA International NV - Initiating Coverage |
6 Oct, 2008 |
Key Investment Summary

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| Penguin Boat International Limited - Results Update |
30 Sep, 2008 |
1H08 Results Update

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| Delong Holdings Limited - Initiating Coverage |
25 Sep, 2008 |
Profit margins fell in FY07 because of sharp increases in raw materials prices which badly affected gross margin.

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| AGVA Corporation- Initiate with Buy TP S$0.08 |
24 Sep, 2008 |
Growing its retail segment

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| Allied Technologies - Initiating Coverage |
24 Sep, 2008 |
Key Investment Summary

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| United Overseas Australia - Initiation Report |
22 Sep, 2008 |
Deep value Malaysian Real Estate play

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| SP Chemicals Ltd - Company Update |
17 Sep, 2008 |
Exit offer at 73 cents per share

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| Pharmesis Intl Ltd - Initiating Coverage |
15 Sep, 2008 |
Investment Highlights

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| Thakral Corp Ltd - Company Update |
11 Sep, 2008 |
Major shareholders’ wrangle to the fore

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| SP Chemicals Ltd - Initiating Coverage |
8 Sep, 2008 |
Investment Highlights

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| Anwell Technologies: Initiate with Hold at fair value S$0.042 |
5 Sep, 2008 |
First Steps in the solar Industry

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| Poh Tiong Choon - Company Update |
4 Sep, 2008 |
Poh Tiong Choon Logistics – On the right track

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| Megachem Ltd - Initiating Coverage |
2 Sep, 2008 |
Megachem Ltd

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| Sim Lian Group. Company Results |
2 Sep, 2008 |
FY08 net profit includes one-off gains and adjustments

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| Adampak - Results Update |
25 Aug, 2008 |
1H2008 Update

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| Armarda Group- 2Q08 Results Update |
22 Aug, 2008 |
2Q08 Results within our expectation

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| Leeden Ltd - Initiating Coverage with HOLD, TP $0.41 |
22 Aug, 2008 |
We value the company based on a 4.5x FY08F P/E. We believe that the stock is fairly value at its current price of $0.46.

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| Lion Asiapac Limited - Business Update |
21 Aug, 2008 |
Disposal of AJAC

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| Youcan Foods International - Results Update |
21 Aug, 2008 |
Long-term growth plans affecting short-term performance

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| Yaan Security Technology - Result Update |
20 Aug, 2008 |
Sterling set of 1HFY08 results

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| Thakral Corp Ltd - Results Update |
19 Aug, 2008 |
Still plagued by substantial write-offs

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| CHT Holdings- 1H08 Results Update |
19 Aug, 2008 |
Profitability in 2Q08 came largely from forex gains and share of associate’s profits

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| Advanced Holdings Ltd - 1H08 Results Update |
15 Aug, 2008 |
Gross margin improved slightly to 25.2% from 24.8% y-oy. Net profit margin however fell from 13.1% to 10.8% y-o-y

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| Petra Foods Limited - Results Update |
15 Aug, 2008 |
Long-term growth plans affecting short-term performance

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| Youcan Foods International - Company Update |
14 Aug, 2008 |
Meeting Resistance

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| Yaan Security Technology - Company Update |
14 Aug, 2008 |
Meeting Resistance

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| Transview Holdings - Company Update |
13 Aug, 2008 |
Possible Gains Ahead

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| ASA Group Holdings - Company Update |
13 Aug, 2008 |
Likely Technical Correction Ahead

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| China Haida- 1H08 Results Update |
13 Aug, 2008 |
Gross margins pulled down by higher aluminium prices

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| China Aviation Oil - Initiating Coverage |
11 Aug, 2008 |
Initiating coverage with SELL, fair value at $1.06

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| Enzer Corp- Company Update |
7 Aug, 2008 |
Cessation of Ariel Singapore Pte Ltd as the Substantial Shareholder

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| China Haida Ltd - Company Update |
7 Aug, 2008 |
Potential Weakness Despite Low

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| CHT (Holdings) Ltd - Company Update |
7 Aug, 2008 |
Technicals Lack Strength

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| Hiap Seng Engineering - Company Update |
7 Aug, 2008 |
Possible Rebound

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| Enzer Corporation - Company Update |
7 Aug, 2008 |
Possible Technical Correction Ahead

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| Armarda Group Limited - Company Update |
7 Aug, 2008 |
Making Yearly Low

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| Poh Tiong Choon Logistics – Company Update |
6 Aug, 2008 |
Poh Tiong Choon Logistics – On the right track

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| United Engineers Ltd - Company Results |
4 Aug, 2008 |
2QFY08 core operating profits improved

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| Lion Asiapac Limited - Company Update |
1 Aug, 2008 |
Testing Support, Possible Rebound

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| Poh Tiong Choon - Company Update |
1 Aug, 2008 |
Testing Resistance, Possible Weakness

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| Lion Asiapac Ltd - Business Update |
29 Jul, 2008 |
Limestone Operations – update

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| Petra Foods Limited - Initiation Report |
28 Jul, 2008 |
European plant reconfiguration dragged down bottomline

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| Cougar Logistics Corp Ltd - Company Update |
23 Jul, 2008 |
Cougar Logistics Corp Ltd - Possibly Meeting Resistance

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| Penguin Boat Internation - Company Update |
23 Jul, 2008 |
Penguin International Limited - No Strength in Sight, Bottom Nearing

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| Advanced Holdings Ltd - Initiating Coverage with BUY |
23 Jul, 2008 |
Based on oour discounted cashflow model, we value the stock at $0.317

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| Transview Holdings Ltd - Results Update |
14 Jul, 2008 |
Transview Holdings Limited - FY08 and FY09 earnings downgraded on higher costs

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| Food Empire Holdings- Initiating with Buy, fair value S$0.71 |
14 Jul, 2008 |
Market leader of its flagship brand Mac-coffee in its key geographical markets

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| Sim Lian Group Ltd - Company Update |
3 Jul, 2008 |
Sim Lian Group - Ride on improved home-buying sentiment

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| Yaan Security Technology Ltd - Company Update |
1 Jul, 2008 |
PRC “Safe City” project to spur growth

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| Thakral Corp Ltd - Company Update |
17 Jun, 2008 |
Thakral Corp Ltd – Fundamental changes afoot

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| Armarda Group- 1Q08 Results update |
16 Jun, 2008 |
Net profit up 76.2% due to maiden contributions from the 80% stake in Brilliant Time Limited

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| Inter-roller Engineering - 1st Quarter 08 Results |
5 Jun, 2008 |

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| Thakral Corporation Ltd – Results Commentary |
4 Jun, 2008 |
Thakral Corp Ltd – Not unexpected losses in 1Q

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| CHT Holdings-1Q08 Results Update |
3 Jun, 2008 |
Raw Material prices and the depreciating USD continue to be a drag on the Group’s gross margins

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| Cougar Logistics Corp - FY3/08 results update |
29 May, 2008 |
Bountiful FY3/08 net profits due to divestment gains

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| Rowsley Ltd - Company Results |
28 May, 2008 |
Turnaround in FY3/08 results due to one-off divestment gains

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| Telechoice International- 1Q08 results update |
20 May, 2008 |
Strong Showing from the PCS segment

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