Completed the FY13 sales target in Nov Focus on enhancing return of investment properties Key takeaways from KL and SG NDR Morning Bulletin Trans-Asia Oil & Energy Dev’t Corp New Contracts Buoy 3Q13 Outperformance Sustained in 3Q13 OW: FPO attractively priced Potential new bancassurance rules –mixed impacts Shanghai FTZ – Not Yet a Threat Hong Kong Analyser Tug-of-war: China reform vs weaker liquidity