Any opinion or estimate contained in this presentation is subject to change without notice. We expressly disclaim all liability for the use or interpretation by others of information contained in this presentation or for any loss, arising whether directly or indirectly, as a result of any person acting on any information, opinion or estimate contained in this presentation. Any reference to individual companies is purely for the purpose of illustration and should not be construed as a recommendation to buy or sell any securities. This presentation has been reproduced by Pru Life UK with permission from the Eastspring Investments (Singapore) Limited. This document is solely for information and internal circulation only and may not be copied, published, circulated, reproduced or distributed in whole or part to any person or be used as part of any sales/marketing material of the recipient without the prior written consent of Pru Life UK.