Phillip
Commodities (HK) and its affiliated / related companies, their associates,
directors, connected parties and/or employees (collectively 'Phillip') may own or have interests or positions
in any of the contracts / products mentioned or referred to in this section, or
any securities related thereto and may from time to time add or dispose of or
may be materially interested in any such contracts / products. The contents of
the commentary are not nor should they be construed as an offer,
invitation, solicitation, advertisement, inducement or representation of any
kind or from whatsoever in respect of or in connection with any agreement or
investment arrangement or for any other purpose with Phillip or otherwise. Use
of this section is entirely at your own risk. The information or articles
contained in this website is not to be relied upon as authoritative or taken in
substitution for the exercise of judgment by any recipient. The information
contained therein is subject to change without notice.
The fact that these articles or commentaries have been
made available constitutes neither a recommendation to enter into a particular
transaction nor a representation that any product described in this material is
suitable or appropriate for the recipient. Recipients should be aware that many
of the products which may be described in this publication involve significant
risks and may not be suitable for all investors, and that any decision to enter
into transactions involving such products should not be made unless all such
risks are understood and an independent determination has been made that such
transactions would be appropriate. Any discussion of the risks contained herein
with respect to any product should not be considered to be a disclosure of all
risks or a complete discussion of such risks.