Indonesia strategy:Asia marketing feedback

We spent 2 weeks meeting c. 55 investors across Asia marketing our FY17outlook and major bank re-initiations. Investor reception towards Indonesiawas broadly positive with our ‘domestic quality cyclical’ positioning agreed.

    Major points of difference on stock selections involved major banks (BNI onvalue) and investors indicated a preference for contractors over propertystocks. The key current risk on Jakarta Gubernatorial elections polarisedopinions, with a majority believing the mid-Feb election a non-event.