【正文】
the value, price or ine from investments may fall as well as rise. SCB, and/or a connected pany, may have a position or act as market maker in any of the instruments or currencies mentioned in this document. SCB, and/or a connected pany may act as adviser, placement agent, underwriter or lender to the issuer of any of the instruments mentioned in this document. SCB, and/or a connected pany may have received or may expect to receive remuneration for investment banking services from panies mentioned herein. You are advised to make your own independent judgment with respect to any matter contained herein. In the ., SCB conducts designated investment business only with Market Counterparties and Intermediate Customers and this document is directed only at such persons. Other persons should not rely on this document. In Singapore, securities research documents are only issued and intended for persons whose business involves the acquisition and the disposal of, or the holding of, capital markets products and accredited investors.