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This communication is solely for information purposes only and should not be construed as an offer or solicitation for the subscription, purchase or sale of any products, securities or financial instruments or to participate in any particular trading strategy. Whilst the information contained herein has been compiled from sources believed to be reliable and we have taken all reasonable care to ensure that the information contained in this communication is not untrue or misleading at the time of publication, we cannot guarantee and we make no representation as to its accuracy or completeness, and you should not act on it without first independently verifying its contents. Any opinion or view contained in this communication is subject to change without notice. We are under no obligation to update or keep current the information contained herein.

We have not given any consideration to and we have not made any investigation of the investment objectives, financial situation or particular needs of any customer, and accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person acting on such information or opinion or view.

OCBC and/or its related and affiliated corporations may at any time make markets in the products, securities or financial instruments mentioned in this communication and together with their respective directors and officers, may have or take positions in the mentioned products, securities or financial instruments in this communication and may be engaged in purchasing or selling the same for themselves or their clients, and may also perform or seek to perform broking and other investment or securities-related services for the corporations whose securities are mentioned in this communication as well as other parties generally.