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Analysts' Recommendations

Firm	Analyst	Date of Report	Rating	Price Target (S$)	DPU Estimates (cents)
Firm	Analyst	Date of Report	Rating	Price Target (S$)	2010	2011
CLSA	Yew Kiang	26/07/2010	Outperform	0.97	6.40	7.10
CIMB	Janice Ding	27/08/2010	Outperform	0.86	6.00	6.90
Daiwa Capital Markets	David Lum	29/07/2010	Hold	0.87	6.40	7.10
DBS	Derek Tan	29/07/2010	Buy	1.00	6.10	6.30
Deutsche Bank	Gregory Lui	22/08/2010	Buy	0.95	6.22	6.32
Standard Chartered	Regina Lim	26/07/2010	Outperform	1.00	6.15	6.30
Credit Suisse	Tricia Song	26/07/2010	Outperform	1.00	6.20	6.49
Macquarie	Elaine Cheong	26/07/2010	Outperform	0.95	6.00	6.00
Morgan Stanley	Brian Wee	10/08/2010	Neutral	0.90	6.00	6.70
OCBC	Meenal Kumar	29/07/2010	Neutral	0.89	6.30	7.00
UBS	Michael Lim	28/07/2010	Buy	1.15	6.11	6.56
Citibank	Wendy Koh	23/08/2010	Buy	0.97	6.20	6.80


Average Consensus				0.98	6.17	6.63

Last published 06 Sep 2010