IDEAFirst -

INDEPENDENT ECONOMIC ANALYSIS (HOLDINGS) LIMITED ("IDEAglobal.com")

STANDARD TERMS AND CONDITIONS FOR IDEAglobal.com's IDEAfirst SERVICE

1. These terms shall be incorporated into every agreement ("Agreement") with a subscriber ("Subscriber") for the supply of IDEAglobal.com's IDEAfirst service ("IDEAfirst Service") to the exclusion of any terms imposed or sought to be imposed by a Subscriber. Each Agreement for IDEAglobal.com Services shall come into effect only when signed by both the Subscriber and IDEAglobal.com. For this purpose, the Subscriber hereby warrants and represents to IDEAglobal.com that its signatory to the Agreement is acting with the full and explicit authority of the Subscriber, and that the authorised signatory has full authority and capacity to enter into and execute the Agreement on the Subscriber's behalf. The Subscriber shall accordingly be bound by the terms hereof and IDEAglobal.com shall be entitled to rely upon the Subscriber's representations.

2. Unless otherwise agreed, each Agreement for the IDEAfirst Service shall come into effect only when signed by IDEAglobal.com and commence as from the agreed Commencement Date and subject as provided hereafter will continue for a period of 1 year and for further periods of 1 year thereafter until terminated by the Subscriber giving to IDEAglobal.com not less than 3 months notice in writing expiring at the end of the relevant 1 year term.

3. (a) Unless otherwise agreed, subscriptions for the IDEAfirst Service shall be IDEAglobal.com's standard price at the time the subscription is due and shall be due and payable, in full without set-off or deduction, annually in advance within 15 days of invoice. Daily interest shall be chargeable on overdue invoices at the rate of 15% per annum.

(b) All sums due to IDEAglobal.com are exclusive of Goods and Services Tax, Value Added Tax ("VAT") and any other use or sales taxes, duties, or levies imposed by any authority, government or government agency which may apply or be introduced from time to time which shall be charged thereon in accordance with the relevant regulations in force at the time of providing the Service and shall be paid by the Subscriber. If a Subscriber is required by any tax authority to account for withholding tax (or similar duties or taxes) in respect of any subscription due to IDEAglobal.com, the subscription shall be grossed up so that IDEAglobal.com actually receives the amount which would have been payable had such withholding tax not been so accounted for.

4. EACH SUBSCRIBER AGREES AND ACKNOWLEDGES THAT:

(a) IDEAglobal.com, ITS SUBSIDIARIES, ASSOCIATES, AND AFFILIATES ("IDEAglobal.com GROUP") OBTAINS INFORMATION FOR ITS ANALYSIS AND FORECASTS FROM SOURCES WHICH IDEAglobal.com GROUP CONSIDERS RELIABLE, BUT IDEAglobal.com GROUP DOES NOT GUARANTEE THE ACCURACY OR COMPLETENESS OF ITS ANALYSIS AND FORECASTS, OR ANY INFORMATION CONTAINED THEREIN.

(b) THE USE AND INTERPRETATION OF THE INFORMATION, ANALYSIS AND FORECASTS CONTAINED IN THE IDEAfirst SERVICE REQUIRE FINANCIAL SKILL AND JUDGEMENT. THE SUBSCRIBER WARRANTS THAT IT HAS SUCH SKILL AND JUDGEMENT AND SHALL BE SOLELY RESPONSIBLE FOR ANY OPINIONS, RECOMMENDATIONS, FORECASTS OR OTHER COMMENTS MADE OR ACTIONS TAKEN BY IT BASED ON SUCH INFORMATION, ANALYSES AND FORECASTS.

(c) IDEAglobal.com GROUP MAKES NO GUARANTEE AS TO THE QUALITY OR QUANTITY OF INFORMATION TO BE PROVIDED UNDER THE FIRST CALL SERVICE.

(d) IDEAglobal.com GROUP WILL NOT BE LIABLE TO SUBSCRIBERS (NOR WILL ANY REFUND OF SUBSCRIPTIONS BE DUE) FOR ANY DELAY IN DELIVERY OF THE FIRST CALL SERVICE OR FOR LOSS OR DAMAGE ARISING OUT OF ANY INTERRUPTION OR FAULTS BEYOND IDEAglobal.com'S CONTROL IN THE SUPPLY OF ANY IDEAglobal.com SERVICES, INCLUDING IN PARTICULAR NON-RECEIPT OF THE FIRST CALL SERVICE BECAUSE OF FAILURE IN THE TELECOMMUNICATION SYSTEM AND/OR THE UNAVAILABILITY OF PERSONS DESIGNATED BY THE SUBSCRIBER TO BE ENTITLED TO THE FIRST CALL SERVICE DESPITE REASONABLE ATTEMPTS TO CONTACT THEM.

(e) ALL CONDITIONS WARRANTIES REPRESENTATIONS AND RESPONSIBILITIES EXPRESSED OR IMPLIED BY STATUTE COMMON LAW OR OTHERWISE IN RELATION TO THE FIRST CALL SERVICE ARE EXCLUDED AND DISCLAIMED AND IN NO EVENT SHALL IDEAglobal.com GROUP BE LIABLE FOR ANY LOSS OR DAMAGE (WHETHER DIRECT OR CONSEQUENTIAL, FORESEEN OR UNFORESEEN) ARISING OUT OF THE FIRST CALL SERVICE. IDEAglobal.com GROUP'S LIABILITY TO THE SUBSCRIBER IN EACH YEAR OF THIS AGREEMENT ARISING OUT OF THE FIRST CALL SERVICE SHALL BE LIMITED TO THE SUBSCRIPTIONS PAID BY THE SUBSCRIBER FOR THE FIRST CALL SERVICE IN RESPECT OF SUCH YEAR.

5. (a) Information given to the Subscriber to the IDEAfirst Service is often uniquely obtained by IDEAglobal.com and is given in strictest confidence. Accordingly, it may be used by Subscribers for the purposes of their internal risk management only and for no other purpose. The Subscriber agrees to indemnify and keep indemnified IDEAglobal.com against all losses, claims costs, expenses, damages and other liability incurred by IDEAglobal.com of any nature whatsoever as a result of breach of this clause by the Subscriber.

(b) Without prejudice to Condition 5(a), the Subscriber may not relay, publish or otherwise present or disclose to third parties any part of the IDEAfirst Service whether in the form received by them or in any other form and may not transfer any part of the IDEAfirst Service to another information distribution network or publication system whether external or internal.

6. IDEAglobal.com shall have the right to add to, vary or reduce the contents of the IDEAfirst Service or to replace omit or otherwise vary any of the sources used in the compilation of the IDEAfirst Service without notice to the Subscriber.

7. IDEAglobal.com shall have the right to give written notice at any time and for any reason terminating any Agreement forthwith, but if such termination is not as a result of breach of an Agreement by the Subscriber, IDEAglobal.com shall reimburse any part of the current subscription that relates to the period after termination.

8. The Subscriber shall obtain no copyright or other proprietary rights in the IDEAfirst Service.

9. IDEAglobal.com shall be entitled to assign any Agreement to any associated company and in such event the Subscriber agrees to treat such Agreement with effect from the date of assignment as being entered into for all purposes between the Subscriber and such associated company.

10. Each agreement constitutes the complete and exclusive statement of the agreement between the parties relating to the IDEAfirst Service provided thereunder and supersedes all proposals oral or written (including any representations) and all other communication between them.

11. All Agreements shall be governed by the laws of Singapore and Subscribers agree to submit to the non-exclusive jurisdiction of the Singapore Courts.