The information provided herein is intended for general circulation and/or discussion purposes only and may not be published, circulated, reproduced or distributed in whole or in part to any other person without our written consent.

It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. Please seek advice from a financial adviser regarding the suitability of any investment product taking into account your specific investment objectives, financial situation or particular needs before you make a commitment to purchase the investment product. In the event that you choose not to seek advice from a financial adviser you should consider whether the product in question is suitable for you.

OCBC Securities Private Limited and its respective related and affiliated corporations together with their respective directors and officers may have to take positions in the securities mentioned in this report 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 report as well as other parties generally.

This does not constitute an offer or solicitation to buy or sell or subscribe for any security or financial instrument or to enter into a transaction or to participate in any particular trading or investment strategy.

No representation or warranty whatsoever (including without limitation, any representation or warranty as to accuracy, usefulness, adequacy, timeliness or completeness) in respect of any information (including without limitation any statement, figures, opinion, view or estimate) provided herein is given by OIR and OSPL and it should not be relied upon.  OIR and OSPL do not undertake an obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information presented is subject to change without notice. OIR and OSPL shall not be responsible or liable for any loss or damage whatsoever arising directly or indirectly howsoever in connection with or as a result of any person acting on any information provided herein.

The information provided herein may contain projections or other forward looking statement regarding future events or future performance of countries, assets, market or companies. Actual events or results may differ materially. Past performance figures are not necessarily indicative of future or likely performance. Any reference to any specific company, financial product or assets class in whatever way is used for illustrative purposes only and does not constitute a recommendation on the same.

There are necessarily limitations and difficulties in using any graph, chart, formula or other device to determine whether or not, or if so, when to, make an investment in these products. (applicable only if chart, formula, devices are presented)