We attended the PVT AGM today, which was quite positive. Most investor questions focused on PVT’s potential transport contract for Nghi Son refinery. Nghi Son refinery is on track to operate in early 2018 at the latest, which will boost 2018 revenue and NPAT to grow 32.6% and 40.2%, respectively, per management’s strategic plan. Management guides for 26.1% and 31.7% declines in 2017 revenue and earnings, respectively, due to Dung Quat maintenance. This is quite conservative in our view.