ComfortDelgro – Lim and Tan

NOTABLE SHARE TRANSACTIONS

• Silchester Int’l, a value-fund manager, sold 21.4 mln shares “over a few different dates”, reducing holding to 123.893 mln shares or 5.92%.

• Silchester has been selling CD shares since Aug ’10, totaling 89.62 mln shares since.

• CD shares have been trading in a broad range of $1.30-1.65 for more than 3 years.

• The public transportation sector merits at best a HOLD recommendation.