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The research contained in this report is based on information obtained from sources believed to be reliable, but we (collectively DBS Bank Limited, DBS Vickers Securities (Singapore) Pte Ltd, their respective affiliates and associates, Affiliates and their respective directors, officers, employees and agents (collectively, the "DBS Group”) did not conduct due diligence on any company, verify any information or sources or consider any other factors that we may deem relevant or appropriate in preparing the research. Accordingly, we make no representations about the accuracy, completeness or correctness of the research contained in this report No representation or warranty. Opinions expressed are subject to change without notice. This research is prepared for general circulation. Any advice contained in this document does not take into account the specific investment objectives, financial situation and idiosyncrasies of any particular subject Requirements. This document is for the recipient's information only and is not a substitute for the recipient's judgment, and the recipient should obtain independent legal or financial advice independently. For any further DBS Group shall not be liable for any direct, indirect and/or consequential damages (including any claims for lost profits) arising from communications. This document should not be construed as an offer or a solicitation of an offer to buy or sell any securities. DBS The Group and its subsidiaries and/or persons connected with any of them may from time to time have interests in securities mentioned in this document. DBS Group may have positions in securities mentioned herein and may affect trading, Brokerage, investment banking and other banking services may also be provided or sought to be provided to these companies.
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