1 CITY DEV.

GUOCOLAND

0.50
0.50

CUT
Ref. Point

0.50
0.50
2 CAPITALAND

CUT

CUT
Ref. Point

0.15
0.75

CUT

4
6.00
5.50
5.00
4.50
4.00

5
6.50
6.00
5.50
5.00
4.50

CUT
Ref. Point

0.10
0.25

CUT

CUT
Ref. Point

0.04
0.07

CUT

CITY DEV.
GUOCOLAND

CLOSING $

LEVEL

11.23
2.4
4.68

1
2.95
2.20
2.05
1.90
1.15

2
3.10
2.35
2.20
2.05
1.30

3
3.25
2.50
2.35
2.20
1.45

4
3.40
2.65
2.50
2.35
1.60

5
3.55
2.80
2.65
2.50
1.75

LEVEL
6
3.70
2.95
2.80
2.65
1.90

1
1.40
1.15
1.05
0.95
0.70

2
1.50
1.25
1.15
1.05
0.80

LEVEL
3
4
1.60
1.70
1.35
1.45
1.25
1.35
1.15
1.25
0.90
1.00

5
1.80
1.55
1.45
1.35
1.10

6
1.90
1.65
1.55
1.45
1.20

1
0.63
0.56
0.52
0.48
0.41

2
0.67
0.60
0.56
0.52
0.45

LEVEL
3
4
0.71
0.75
0.64
0.68
0.60
0.64
0.56
0.60
0.49
0.53

5
0.79
0.72
0.68
0.64
0.57

6
0.83
0.76
0.72
0.68
0.61

BOTH OK
BOTH OK
7
3.85
3.10
2.95
2.80
2.05

8
4.00
3.25
3.10
2.95
2.20

9
4.15
3.40
3.25
3.10
2.35

10
4.30
3.55
3.40
3.25
2.50

11
4.45
3.70
3.55
3.40
2.65

5.50
4.50

CAPITALAND
YANLORD

FALSE
FALSE

2.65
2.35

FALSE
FALSE

1.45
1.25

PHILLIP OK K-REIT
SAXO OK
ASCENDRAIT

OK
FALSE

0.68
0.60

3
7
4
0
0

13
22
4
Long LB, Short CES
0

1.355
2.13
0.64

OK
OK

4
0
0

0.815
0.455
1.79

OK
OK

FALSE
FALSE

LOTS

1
5

3.91
1.545
2.53

OK
OK

PHILLIP OK CHIPENGSENG
PHILLIP OK LIAN BENG

ASCENDRAIT

0.07
0.04

PAIRS

BOTH OK
SAXO OK

OK
OK

LIAN BENG

0.25
0.10

4 K-REIT

2
5.00
4.50
4.00
3.50
3.00

YANLORD

0.75
0.15

3 CHIPENGSENG

1
4.50
4.00
3.50
3.00
2.50

LEVEL
3
5.50
5.00
4.50
4.00
3.50

PLATFORM

8
5
4
0
0

CAPITAMALL / CAPITACOMM
CAPITALAND / YANLORD
CITY DEVELOPMENT / GUOCOLAND
DBS / OCBC
UOB / DBS
GENTING SP / GENTING HK
HK LAND / KEPPEL LAND
ASCENDRAIT / K-REIT
KEPPEL CORP / SEMB MARINE
KEPPEL CORP / SEMB CORP
UOB / OCBC
SEMB MARINE / SEMB CORP
SUNTEC REIT / ASCOTT REIT
Average Single Losing Trade Per Pair
Risk Tolerance of Single Losing Trade Per Pair

Biggest Single Losing Trade

Without Compounding
-$7,060
-$6,620
-$2,120
-$5,740
-$5,750
-$4,660
-$6,150
-$15,030
-$2,090
-$3,210
-$2,320
-$7,040
-$6,170
-$5,689
-5.69%

CAPITAMALL
8/26/2011
0.0236
5/30/2011
0.0229
2/28/2011
0.0236
11/29/2010
0.0236
8/27/2010
0.0229

CAPITACOMM
8/26/2011
0.0377
2/28/2011
0.0393
8/27/2010
0.039
2/26/2010
0.0373
8/28/2009
0.0333

5/27/2010
2/26/2010
11/26/2009
8/28/2009
5/28/2009
3/6/2009
2/27/2009
11/27/2008
8/27/2008

6/5/2009
2/27/2009
8/28/2008

0.0223
0.024
0.0235
0.0213
0.0197

CAPITALAND
5/26/2011
5/13/2010
5/22/2009
2/23/2009

OFFER OF 1 FOR 1
@ SGD 0.59

0.0581
0.0519

OFFER OF 9 FOR 10 @ SGD 0.82

0.0365
0.0364
0.0352

ascendrait
8/25/2011
0.0281
5/9/2011
0.0375
2/28/2011
0.0329
11/26/2010
0.033
8/26/2010
0.0337
5/25/2010
0.0273
2/26/2010
0.0327
11/26/2009
0.0154
9/23/2009
0.0194
8/28/2009
0.0362
5/29/2009
0.025
2/27/2009
0.0478
1/23/2009
1 FOR 15 @ SGD 1.16
11/28/2008
0.0401
8/27/2008
0.0389

Genting HK

K-Reit
8/26/2011
2/25/2011
8/26/2010
2/25/2010
10/27/2009
8/27/2009
2/23/2009
8/28/2008

Kep Corp
8/10/2011
4/28/2011
5/10/2011
8/18/2010
OFFER OF 1 FOR 1 @ SGD
6/29/2010
0.93
0.0499
5/11/2010
0.0507
8/19/2009
0.0139
5/12/2009
8/26/2008
0.0372
0.0338
0.0297
0.0277

Genting SP
UOB
9/23/2009
OFFER OF 1 FOR 5 @ USD
9/15/2011
0.8
6/21/2011
10/13/2010
6/25/2010
9/2/2009
5/25/2009
9/1/2008

CAPITALAND
0.06
0.105
0.07

yanlord
6/6/2011
6/1/2010
6/5/2009

city dev
0.0122
0.0168
0.0123

OFFER OF 1 FOR 2 @ SGD 1.3

Kep Corp
0.17
OFFER OF 1 FOR 10

0.26
0.16
DIST IN SPECIE

0.23
0.15
0.21
0.14

UOB
0.2
0.5
0.2
0.4
0.2
0.4
0.2

SembMar
8/31/2011
5/11/2011
8/31/2010
5/10/2010
9/1/2009
5/13/2009
9/1/2008

0.05
0.31
0.05
0.1
0.05
0.06
0.05

5/20/2011
5/21/2010
5/21/2010
5/22/2009

0.18
0.08
0.08
0.075

Semb Corp
5/13/2011
0.17
5/12/2010
0.15
5/8/2009
0.11

KEPLAND
HKLAND $US
6/20/2011
0.18
10/12/2011
0.06
6/14/2010
0.08
5/18/2011
0.1
5/14/2009
OFFER OF 9 FOR 10 @ SGD
10/13/2010
1.09
0.06
5/12/2010
0.1
10/21/2009
0.06
5/13/2009
0.07
10/15/2008
0.06

Guocoland
DBS
11/9/2010
OFFER OF 1 FOR 3 @ SGD 1.8
11/8/2010
0.08
9/30/2011
12/12/2009
0.05
7/5/2011
11/13/2008
0.08
10/13/2010
7/8/2010
12/4/2009
6/4/2009
4/29/2009
12/31/2008
12/4/2008
9/3/2008

suntec reit
8/29/2011
0.02532
5/30/2011
0.02388
2/28/2011
0.00593
1/5/2011
0.01723
11/29/2010
0.02502
8/27/2010
0.02528
5/27/2010
0.02513
2/26/2010
0.00318
1/20/2010
0.02568
11/26/2009
0.02921
8/28/2009
0.02977
5/29/2009
0.02918
2/27/2009
0.02858
11/28/2008
0.02854
8/29/2008
0.02793

OCBC
10/7/2011
6/13/2011
11/1/2010
6/16/2010
10/22/2009
6/17/2009
9/12/2008

0.15
0.15
0.15
0.14
0.14
0.14
0.14

0.28
0.28
0.14
0.28
0.28
0.14
0.14

OFFER OF 1 FOR 2 @ SGD 5.42

0.2
0.2

ASCOTREiT
8/26/2011
0.04466
2/28/2011
0.0227
9/21/2010
ROUNDING MECH OFFER OF 1 FOR 10 @ SGD 1.07
11/19/2010
0.0174
8/27/2010
0.0353
2/26/2010
0.0377
8/28/2009
0.0355
2/27/2009
0.0428
8/28/2008
0.0452

FFER OF 1 FOR 10 @ SGD 1.07

SBS Transit Ltd

SC Global Developments Ltd
SunVic Chemical Holdings Ltd
United Envirotech Ltd
United Industrial Corporation Ltd
United Overseas Bank Ltd
UOL Group Ltd
Venture Corporation Ltd