MCI (P) 129/11/2012 Ref No: SGMN2013_0163 1 of 16

Morning Note

Phillip Securities Research Pte Ltd Singapore

27 August 2013

Weekly Market Outlook Webinar

Webinar videos can be accessed via UniPhillip website - http://www.uniphillip.com/ => Education Programs => Phillip Securities Research Webinars

Source: Phillip Securities Research Pte Ltd

Company Results

S/N Company Name Q/HY/FY Currency,

Units

Revenue Net Profit

Current Previous Change

(%) Current Previous

Change (%)

1 HAI LECK HOLDINGS LIMITED

FY S$'000 143,074 88,258 62.1 13,993 3,873 261.3

2 CORDLIFE GROUP LIMITED

FY S$'000 34,702 30,275 14.6 13,484 6,926 94.7

3 LOGISTICS HOLDINGS LIMITED

FY S$'000 103,410 64,082 61.4 5,238 5,117 2.4

4 ONGCHEER HOLDINGS LIMITED

FY RMB’000 3,945,945 2,329,385 69 59,638 (94,793) N.M.

5 RYOBI KISO HOLDINGS LTD.

FY S$'000 155,214 153,319 1.2 1,227 3,229 (62.0)

6 SILVERLAKE AXIS LTD

FY RM 398,575,2

55 400,016,8

87 (0)

196,419,877

165,760,722

18

7 KOON HOLDINGS LIMITED

FY S$'000 126,352 89,546 41.1 (10,991) 651 N.M.

8 SPINDEX INDUSTRIES LIMITED

FY S$'000 92,573 87,995 5.2 7,022 7,166 (2)

9 CIVMEC LIMITED FY S$’000 79,449 113,564 (30.0) (3,883) 8,032 N.M.

10 F J BENJAMIN HOLDINGS LTD

FY S$'000 373,403 393,237 (5) 4,447 13,898 (68)

11 TIONG WOON CORP HOLDING LTD

FY S$'000 200,528 147,979 36 17,611 (4,847) N.M.

Source: SGX Masnet

Morning Note 27 August 2013

2 of 15

Company Highlights

Japan Foods Holding Ltd. announced that the Company has today subscribed for an additional 100,000 new ordinary shares in the capital

of its wholly-owned subsidiary, Bachmann Japanese Restaurant Pte Ltd (“BJR”), for a total consideration of S$100,000 (“Subscription”). The Subscription increased the paid-up share capital of BJR from S$500,000 to S$600,000. The Subscription is funded through internal resources and is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company and its subsidiaries for the current financial year ending 31 March 2014. (Closing price: S$ 0.790, +1.282%) Jaya Holdings announced it has signed a contract to charter its new build DP2 Platform Supply Vessel (PSV) “Jaya Vigilant” for a long term

operation in the Indian Ocean, offshore Mozambique. The two year contract, which includes charterer’s options has a value of more than US$20 million. Jaya Vigilant, designed as a large PSV, is now being upgraded with additional equipment required for the charter’s work scope prior to delivery from Jaya’s own yard in Batam, Indonesia at the end of September 2013. (Closing price: S$ 0.610, -%) Miyoshi Precision Limited announced that its 53.16% owned subsidiary, Giken Sakata (S) Limited (“Giken”), had today announced a

proposed placement of up to 55,234,000 new ordinary shares in the capital of Giken (“New Giken Shares”) pursuant to a placement agreement with DMG & Partners Securities Pte Ltd (“Proposed Placement”) and 76,275,000 New Giken Shares pursuant to a subscription agreement with Roots Capital Asia Limited (“Proposed Subscription”) dated 23 August 2013. (Closing price: S$ 0.056, -3.448%) Source: SGX Masnet, The Business Times

Morning Note 27 August 2013

3 of 15

Morning Commentary

STI: -0.14% to 3084.4 KLCI: +0.08% to 1722.5 JCI: -1.18% to 4120.7 SET: -0.67% to 1329.2 HSI: +0.65% to 22005 HSCEI: +1.44% to 10075.1 Nikkei: -0.18% to 13636 ASX200: +0.24% to 5135.4 Nifty: +0.09% to 5476.5 S&P500: -0.40% to 1656.8 MARKET OUTLOOK:

Two forward looking indicators have declined in the US – first new home sales, then non-defense capital goods excluding aircraft. 3q13 GDP is not off to a good start which now raises concern for our thesis of a stronger 2H13 recovery. The S&P500 reacted negatively to this data point so continue to stay cautious as this selloff is still working itself out. For the market outlook for the week, please go to www.uniphillip.com > education programs > Phillip Securities Research webinar. This week’s webinar also gives an update on the Offshore & Marine sector. (PhillipCFDs and ETFs for trading the market outlook can be found in the webinar slides above or the Global Macro report below. PhillipUT Wrap Account offers tactical asset allocation of unit trusts without front loading sales charge.) SECTOR/STRATEGY REPORTS:

- Sector Reports: Banking, 8 Jul / Telecommunications, 5 June / Commodities, 29 May / Offshore & Marine, 26 Aug - Country Strategy: China & HK 5 July / S’pore, 18 Jun / Thai, 17 Jun - Global Macro, Asset Strategy: 8 Jul, Update Source: Phillip Securities Research Pte Ltd

Macro Data

Singapore’s manufacturing output increased 2.7% y/y in July 2013. In contrast, on a seasonally adjusted month-on-month basis, output

contracted 1.9%. According to Economic Development Board, manufacturers produced more electronics and transport engineering companies increased output in July 2013 as compared to a year ago. Electronics output rose 3.5% y/y, buoyed by higher export demand in the other electronic modules & components, computer peripherals and semiconductors segments. On the other hand, transport engineering cluster increased 13.9% y/y, due to the higher contributions from rig building and ship conversion projects, as well as more repair and maintenance jobs from commercial airlines. Thailand’s trade deficit widened to $2.28 billion in July from $1.91 billion in the previous month, the Ministry of Commerce said. Exports

contracted 1.48% from a year earlier while imports swelled by 1.08%. The Ministry of Commerce has acknowledged that Thailand’s exports continue to be affected by slow global growth and that Commerce Minister Niwatthumrong Boonsongpaisan will hold a meeting with Thai trade representatives early next month to discuss measures against the falling trade. "Although many agencies predict lower-than-target export growth this year, the ministry has not yet lowered its target of 7-7.5 per cent in order to encourage all involved sectors to keep trying hard," Ministry Permanent Secretary Vatchari Vimooktayon said at media briefing. She said the ministry would encourage exporters to emphasise emerging markets and Asean. US Durable goods orders dropped 7.3 percent, from an increase of 3.9 percent in June, as demand for goods ranging from aircraft to

computers and defense equipment fell. That was the biggest decline since last August and snapped three consecutive months of gains. Economists expected durable goods orders to fall 4.0 percent. Source: Phillip Securities Research Pte Ltd

Morning Note 27 August 2013

4 of 15

Source: Bloomberg

STI - Index Members

7.6

%

3.6

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1.7

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1.0

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0.8

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0.4

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0.4

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0.3

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-0.3

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%

-0.4

%

-0.5

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-1.0

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-1.3

%

-1.3

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-1.3

%

-1.4

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-1.5

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-1.6

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-2.1

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-2.4

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%

-4%

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Morning Note 27 August 2013

5 of 15

81.35 -0.07% 292.87 +0.72%

110.59 +0.61% 2.791 +0.01%

1,404.70 -0.09% 14,946.46 -0.43%

506.12 +0.44% Straits Times Index 3,084.41 -0.14%

22,005.32 +0.65% 13,636.28 -0.18%

Source: Bloomberg

Gold (US$/Oz) DJI

MSCI Asia x-Japan

Hang Seng Index Nikkei 225 Index

Dollar Index ThomReuters/JefferiesCRB

Crude oil, Brent (US$/bbl) US Treasury 10yr Yield

1.201.401.601.802.002.202.402.602.803.00

Au

g-1

2

Se

p-1

2

Oct-1

2

Nov-1

2

Dec-1

2

Jan

-13

Fe

b-1

3

Ma

r-13

Ap

r-13

Ma

y-1

3

Jun

-13

Jul-1

3

Au

g-1

3

2,600

2,800

3,000

3,200

3,400

3,600

Au

g-1

2

Se

p-1

2

Oct-1

2

Nov-1

2

Dec-1

2

Jan

-13

Fe

b-1

3

Ma

r-13

Ap

r-13

Ma

y-1

3

Jun

-13

Jul-1

3

12,000

13,000

14,000

15,000

16,000

Au

g-1

2

Se

p-1

2

Oct-1

2

Nov-1

2

Dec-1

2

Jan

-13

Fe

b-1

3

Ma

r-13

Ap

r-13

Ma

y-1

3

Jun

-13

Jul-1

3

16,000

18,000

20,000

22,000

24,000

26,000

Au

g-1

2

Se

p-1

2

Oct-1

2

Nov-1

2

Dec-1

2

Jan

-13

Fe

b-1

3

Ma

r-13

Ap

r-13

Ma

y-1

3

Jun

-13

Jul-1

3

6,000

8,000

10,000

12,000

14,000

16,000

18,000

Au

g-1

2

Se

p-1

2

Oct-1

2

Nov-1

2

Dec-1

2

Jan

-13

Fe

b-1

3

Ma

r-13

Ap

r-13

Ma

y-1

3

Jun

-13

Jul-1

3

1,100

1,400

1,700

2,000

Au

g-1

2

Se

p-1

2

Oct-1

2

Nov-1

2

Dec-1

2

Jan

-13

Fe

b-1

3

Ma

r-13

Ap

r-13

Ma

y-1

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Jun

-13

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Au

g-1

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76

78

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260

280

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80

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120

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420

440

460

480

500

520

540

560

580

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2

Nov-1

2

Dec-1

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-13

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r-13

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3

Morning Note 27 August 2013

6 of 15

Company AnalystDate of Last

ReportRating

Target

Price (S$)

Current

Price

Performance since

Last Report

Potential Return

at Current Price

GOLDEN AGRI-RESOURCES LTD Nicholas Ong 5-Aug-13 Neutral 0.50 0.525 -0.9% -4.8%

WILMAR INTERNATIONAL LTD Nicholas Ong 7-Aug-13 Accumulate 3.61 3.05 -3.2% 18.4%

COURTS ASIA LTD Ken Ang 14-Aug-13 Buy 1.03 0.77 -13.5% 33.8%

GENTING SINGAPORE PLC Ken Ang 7-Aug-13 Neutral 1.40 1.35 1.5% 3.7%

COMBINE WILL INTERNATIONAL H Chan Wai Chee 20-Dec-12 Buy 0.93 0.50 -44.4% 86.0%

CORDLIFE GROUP LTD Change of Analyst 1.09

DBS GROUP HOLDINGS LTD Ken Ang 2-Aug-13 Accumulate 17.50 16.16 -6.3% 8.3%

OVERSEA-CHINESE BANKING CORP Ken Ang 5-Aug-13 Neutral 9.50 10.03 -6.6% -5.3%

UNITED OVERSEAS BANK LTD Ken Ang 2-Aug-13 Accumulate 21.80 20.88 -4.2% 4.4%

SINGAPORE EXCHANGE LTD Ken Ang 4-Jul-13 Buy 8.30 7.30 3.7% 13.7%

AMARA HOLDINGS LTD Lucas Tan 15-Aug-13 Buy 0.74 0.55 -4.4% 35.8%

CAPITALAND LTD Change of Analyst 29-Apr-13 3.09

CAPITAMALLS ASIA LTD Change of Analyst 26-Apr-13 1.84

HO BEE INVESTMENT LTD Lucas Tan 14-Aug-13 Accumulate 2.45 2.08 -3.3% 17.8%

KEPPEL LAND LTD Change of Analyst 19-Apr-13 3.46

OUE LTD Lucas Tan 5-Aug-13 Accumulate 3.24 2.76 -3.5% 17.4%

GLOBAL LOGISTIC PROPERTIES L Roy Chen 15-Aug-13 Neutral 2.80 2.70 -3.6% 3.7%

GLOBAL PREMIUM HOTELS LTD Chan Wai Chee 9-Nov-12 Buy 0.305 0.26 6.3% 19.6%

STAMFORD LAND CORP LTD Chan Wai Chee 20-Dec-12 Buy 0.76 0.55 -3.5% 38.2%

SINGHAIYI GROUP LTD Chan Wai Chee 16-Oct-12 Buy 0.016 0.022 37.5% -27.3%

Perennial China Retail Trust Roy Chen 14-Aug-13 Neutral 0.630 0.53 -5.4% 20.0%

CDL HOSPITALITY TRUSTS Change of Analyst 1.56

PARKWAYLIFE REAL ESTATE Change of Analyst 2.29

SABANA SHARIAH COMP IND REIT Change of Analyst 1.14

SATS LTD Change of Analyst 3.20

SIA ENGINEERING CO LTD Change of Analyst 4.84

SINGAPORE TECH ENGINEERING Change of Analyst 3.92

KEPPEL CORP LTD Nicholas Ong 21-Aug-13 Accumulate 12.25 10.21 -0.9% 20.0%

SEMBCORP INDUSTRIES LTD Change of Analyst 4.97

SEMBCORP MARINE LTD Nicholas Ong 2-Aug-13 Neutral 4.42 4.35 -4.8% 1.6%

HU AN CABLE HOLDINGS LTD Chan Wai Chee 21-Dec-12 Buy 0.164 0.12 6.1% 34.4%

SUNPOWER GROUP LTD Chan Wai Chee 20-Dec-12 Buy 0.250 0.17 -15.0% 47.1%

PAN-UNITED CORP LTD Joshua Tan 16-Aug-13 Accumulate 1.270 0.86 -0.6% 47.7%

BOUSTEAD SINGAPORE LTD Joshua Tan 30-May-13 Buy 1.935 1.33 -1.1% 46.0%

SINGAPORE AIRLINES LTD Change of Analyst 9.75

TIGER AIRWAYS HOLDINGS LTD Change of Analyst 0.55

NEPTUNE ORIENT LINES LTD Change of Analyst 1.09

SMRT CORP LTD Change of Analyst 1.37

COMFORTDELGRO CORP LTD Change of Analyst 1.83

HENGYANG PETROCHEMICAL LOGIS Chan Wai Chee 21-Dec-12 Buy 0.27 0.300 52.3% -10.0%

EZRA HOLDINGS LTD Nicholas Ong 15-Jul-13 Neutral 1.00 0.830 -13.1% 20.5%

EZION HOLDINGS LTD Nicholas Ong 12-Aug-13 Accumulate 2.71 2.380 0.0% 13.9%

SINGAPORE TELECOMMUNICATIONS Ken Ang 15-Aug-13 Accumulate 3.99 3.57 -6.3% 11.8%

STARHUB LTD Phillip Research Team 7-Aug-13 Accumulate 4.37 4.17 -1.2% 4.8%

M1 LTD Ken Ang 17-Jul-13 Accumulate 3.55 3.19 4.4% 11.3%

Property (Developers)

Property (REITS)

Industrials (Transportation)

Technology & Communications

Phillip Securities Research - Singapore Stocks Coverage

Source: Phillip Securities Research Pte Ltd

# adjust for pref shares conversion to ord shares. Project valuation remains constant. Conversion $ and interest added to valuation.

Industrials (Capital Goods)

Commodities & Supply Chain Managers

Consumer Goods

Banking & Finance

#

Morning Note 27 August 2013

7 of 15

Company AnalystDate of Last

ReportRating

Target

Price

(US$)

Current

Price

Performance since

Last Report

Potential Return

at Current Price

GARMIN LTD Wong Yong Kai 1-Aug-13 Trading Sell 40.08 40.60 -1.3% 1.3%

GENWORTH FINANCIAL INC-CL A Wong Yong Kai 1-Aug-13 Trading Buy 17.26 12.28 -5.5% 40.6%

ICONIX BRAND GROUP INC Wong Yong Kai 6-Aug-13 Trading Buy 43.19 33.23 -2.5% 30.0%

Source: Phillip Securities Research Pte Ltd

Phillip Securities Research - US Stocks Coverage

Morning Note 27 August 2013

8 of 15

FTSE ST Breakdown (3M % Change)

STI -9.0%

-9.7%

-14.1%

-9.8%

-3.8%-9.4%

-19.8%

-3.6%

-16.6%

-13.2%

30.1%

-9.9%

-8.7%

ST China

ST Real Estate

ST Re Invest Trust

ST Oil & Gas

ST Basic Materials

ST Industrials

ST Consumer Goods

ST Consumer Service

ST Telecommunicate

ST Utilites

ST Financials

ST Technology-9.7%

ST Healthcare

Source: Bloomberg

Last % Chg

0.275 25.0

0.048 23.1

1.280 18.0

0.075 10.3

0.150 10.3

Last % Chg

0.530 -47.8

0.265 -18.5

0.055 -9.8

0.122 -9.6

0.019 -9.5

Source: Bloomberg Source: SGX

3,966

1,473

199

248

504

Turnover (S$'mn)

UP

DOWN

OCEAN SKY INTERNATIONAL LTD

ALBEDO LTD

Top Gainers (%)FTSE ST Market Cap. Breakdown (3M % Change)

Turnover ('mn shares)

Top Losers (%)

SIIC ENVIRONMENT HOLDINGS LT

UNCHANGED

WE HOLDINGS LTD

CORDLIFE GROUP LTD

CHINA MINZHONG FOOD CORP LTD

SYSMA HOLDINGS LTD

CHINA YUANBANG PROPERTY HOLD

S I2I LTD

Source: Bloomberg

BH GLOBAL CORP LTD

-10.4%

-10.2% 2.4%

ST All Share

ST Fledgling

ST Small Cap

ST Mid Cap

STI

-9.0%

-9.3%

Morning Note 27 August 2013

9 of 15

Source: Bloomberg

World Index

JCI -1.18% 4,120.67

HSI 0.65% 22,005.32

KLCI 0.08% 1,722.49

NIKKEI -0.18% 13,636.28

KOSPI -0.07% 1,886.51

SET -0.67% 1,329.18

SHCOMP 1.90% 2,096.47

SENSEX 0.21% 18,558.13

ASX 0.24% 5,135.40

FTSE 100 0.70% 6,492.10

DOW -0.43% 14,946.46

S&P 500 -0.40% 1,656.78

NASDAQ -0.01% 3,657.57 COLOMBO -0.94% 5,895.65

STI -0.14% 3,084.41

Morning Note 27 August 2013

10 of 15

ETF % Change Change Last

ABF SINGAPORE BOND INDX FUND +0.44 +0.01 1.15

CIMB FTSE ASEAN 40 +0.91 +0.09 9.95

DB X-TRACKERS CSI300 UCITS +2.26 +0.16 7.25

DB X-TRACKERS FTSE VIETNAM -1.50 -0.34 22.34

DB X-TRACKERS MSCI EUROPE IN -0.56 -0.30 53.58

DB X-TRACKERS MSCI INDONESIA -1.82 -0.22 11.85

DB X-TRACKERS MSCI WORLD TRN +0.51 +0.02 3.91

DB X-TRACKERS S&P 500 INV DA -0.24 -0.07 29.30

DB X-TRACKERS CNX NIFTY UCIT +5.26 +4.35 87.10

ISHARES MSCI INDIA INDEX ETF +3.00 +0.15 5.15

LYXOR UCITS ETF CHINA ENTER -0.59 -0.08 13.57

LYXOR ETF COMMODITIES CRB-CD +0.74 +0.02 2.72

LYXOR UCITS ETF HANG SENG IN +2.21 +0.06 2.77

LYXOR ETF JAPAN TOPIX +0.53 +0.01 1.14

LYXOR ETF MSCI AC ASIA EX JP -1.75 -0.08 4.48

LYXOR ETF MSCI INDIA +0.46 +0.05 11.02

SPDR GOLD SHARES +1.28 +1.70 134.59

SPDR STRAITS TIMES INDEX ETF -0.32 -0.01 3.11

UNITED SSE 50 CHINA ETF +1.94 +0.03 1.58

ETF Performance

Source: Bloomberg

Morning Note 27 August 2013

11 of 15

EX Date Company Type Net Amount Currency Frequency Record Date Payout Date

8/27/2013 CHINA ANIMAL HEALTHCARE LTD Return of Capital 0.3000 SGD Annual N.A. N.A.

8/27/2013 FALCON ENERGY GROUP LTD Final 0.0050 SGD Irreg 8/29/2013 9/18/2013

8/27/2013 JARDINE CYCLE & CARRIAGE LTD Interim 0.1800 USD Semi-Anl 8/29/2013 10/8/2013

8/27/2013 QAF LTD Interim 0.0100 SGD Semi-Anl 8/29/2013 9/13/2013

8/27/2013 HAW PAR CORP LTD Interim 0.0600 SGD Semi-Anl 8/29/2013 9/12/2013

8/28/2013 TAT SENG PACKAGING GROUP LTD Regular Cash 0.0100 SGD Annual 8/30/2013 9/16/2013

8/28/2013 CAPITAMALLS ASIA LTD Regular Cash 0.0175 SGD Semi-Anl 8/30/2013 9/12/2013

8/28/2013 ABR HOLDINGS LTD Interim 0.0100 SGD Semi-Anl 8/30/2013 9/18/2013

8/28/2013 SINWA LTD Interim 0.0200 SGD Irreg 8/30/2013 9/6/2013

8/29/2013 FIRST RESOURCES LTD Interim 0.0125 SGD Semi-Anl 9/2/2013 9/18/2013

8/29/2013 SAIZEN REIT Distribution 0.0063 SGD Semi-Anl 9/2/2013 9/24/2013

8/30/2013 A-SONIC AEROSPACE LTD Interim 0.0017 SGD Annual 9/3/2013 9/17/2013

Corporate Action: Dividend

Source: Bloomberg

EX Date Company Type Subscription Price Currency Term Record Date

8/29/2013 ASIATIC GROUP HOLDINGS LTD Rights Issue 0.0350 SGD 1 per 1 9/2/2013

Source: Bloomberg

Corporate Action: Rights

Morning Note 27 August 2013

12 of 15

Name Expected Report Date

Karin Technology Holdings Ltd 8/27/2013

Cedar Strategic Holdings Ltd 8/27/2013

Teho International Inc Ltd 8/27/2013

Goodpack Ltd 8/27/2013

Viz Branz Ltd 8/27/2013

Loyz Energy Ltd 8/27/2013

Micro-Mechanics Holdings Ltd 8/27/2013

Spindex Industries Ltd 8/27/2013

Hai Leck Holdings Ltd 8/27/2013

Noel Gifts International Ltd 8/27/2013

Avago Technologies Ltd 8/27/2013

ASL Marine Holdings Ltd 8/28/2013

Zingmobile Group Ltd 8/28/2013

Falcon Energy Group Ltd 8/28/2013

OKH Global Ltd 8/28/2013

Wing Tai Holdings Ltd 8/28/2013

FJ Benjamin Holdings Ltd 8/28/2013

HupSteel Ltd 8/28/2013

Sim Lian Group Ltd 8/28/2013

KTL Global Ltd 8/28/2013

Elite KSB Holdings Ltd 8/28/2013

Eu Yan Sang International Ltd 8/28/2013

Santak Holdings Ltd 8/28/2013

Sin Heng Heavy Machinery Ltd 8/28/2013

TMC Education Corp Ltd 8/28/2013

Mclean Technologies Bhd 8/28/2013

Memstar Technology Ltd 8/28/2013

Digiland International Ltd 8/28/2013

Equation Corp Ltd 8/28/2013

Magnus Energy Group Ltd 8/28/2013

Olam International Ltd 8/29/2013

Cordlife Group Ltd 8/29/2013

Swee Hong Ltd 8/29/2013

ICP Ltd 8/29/2013

Gems TV Holdings Ltd 8/29/2013

Ryobi Kiso Holdings Ltd 8/29/2013

Metax Engineering Corp Ltd 8/29/2013

Ausgroup Ltd 8/29/2013

Lum Chang Holdings Ltd 8/29/2013

GuocoLand Ltd 8/29/2013

LC Development Ltd 8/29/2013

Tai Sin Electric Ltd 8/29/2013

Health Management International Ltd 8/29/2013

Asia-Pacific Strategic Inv Ltd 8/29/2013

Chinese Global Investors Group Ltd 8/29/2013

Aussino Group Ltd 8/29/2013

CFM Holdings Ltd 8/29/2013

Epicentre Holdings Ltd 8/29/2013

Metech International Ltd 8/29/2013

GuocoLeisure Ltd 8/29/2013

Koda Ltd 8/29/2013

Earnings Announcement - Singapore

Calendar

Source: Bloomberg

Morning Note 27 August 2013

13 of 15

Date Statistic For Survey Prior Date Statistic For Survey Prior

8/27/2013 S&P/CS 20 City MoM SA Jun 0.01 0.0105 8/30/2013 Credit Card Bad Debts Jul -- 21.1M

8/27/2013 S&P/CS Composite-20 YoY Jun 0.121 0.1217 8/30/2013 Credit Card Billings Jul -- 3475.9M

8/27/2013

S&P/CaseShiller Home Price Index

NSA Jun 159.4 15614.00% 8/30/2013 Money Supply M1 YoY Jul -- 0.183

8/27/2013 S&P/Case-Shiller US HPI YoY 2Q -- 10.17% 8/30/2013 Money Supply M2 YoY Jul -- 0.091

8/27/2013 S&P/Case-Shiller US HPI NSA 2Q -- 136.7 8/30/2013 Bank Loans and Advances YoY Jul -- 17.70%

8/27/2013 Richmond Fed Manufact. Index Aug 0 -11 9/3/2013 Electronics Sector Index Aug -- 5030.00%

8/27/2013 Consumer Confidence Index Aug 79 80.3 9/3/2013 Purchasing Managers Index Aug -- 5180.00%

8/28/2013 MBA Mortgage Applications 41509 -- -0.046 9/4/2013 Automobile COE Open Bid Cat A 41521 -- 7622300.00%

8/28/2013 Pending Home Sales MoM Jul 0 -0.004 9/4/2013 Automobile COE Open Bid Cat B 41521 -- 7660700.00%

8/28/2013 Pending Home Sales YoY Jul -- 0.091 9/4/2013 Automobile COE Open Bid Cat E 41521 -- 79223

8/29/2013 Initial Jobless Claims 24-Aug 330K 336K 09-13 SEP Foreign Reserves Aug -- $261.10B

8/29/2013 Continuing Claims 41503 2990K 2999K 11-16 SEP Manpow er Survey 4Q -- 15%

8/29/2013 GDP Annualized QoQ 2Q S 0.022 0.017 9/13/2013 Unemployment rate SA 2Q F -- 2.10%

8/29/2013 Personal Consumption 2Q S 0.018 1.80% 9/13/2013 Retail Sales Ex Auto YoY Jul -- 2.60%

8/29/2013 GDP Price Index 2Q S 0.007 0.007 9/13/2013 Retail Sales YoY Jul -- -4.00%

US Singapore

Economic Announcement

Source: BloombergSource: Bloomberg

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