Shifting from big manufacturer to mega-installer We estimate new Basel-III T2 bond FV at 5.2-5.25% yield area BG (+), Statoil (+), Lundin (=) Navigating the gold rush comps Aluminium sees remarkable improvement of fundamentals Iraq weighs on share price Chow Tai Fook：Gold rush hangover Russia gas and LNG vessel refuelling are long-term catalysts Gas sales, margin and connection prospects intact Key messages from JPM's China Summit 2014