Daily Flyer Keynotes and Specialist Speakers Tuesday, 15 September

Find CLSA research on Bloomberg, Thomson Reuters and CapitalIQ - and profit from our evalu@tor proprietary database at clsa.com

www.clsa.com

We are delighted to present our keynote and specialist speakers. The Daily Flyer provides a run down of the daily presentation schedule.

Keynote Address Series The rise of Trump, the fall of Clinton, and the strangest US presidential election in modern history Frank Luntz Founder, Luntz Global 08:00-09:30 Tuesday, Breakfast Keynote, Track 1, Grand Ballroom, LL

Just six months ago, Hillary Clinton was America's No.1 choice for President, leading her Democratic rivals by 50 points or more and defeating her would-be Republican challenges by double digits. Today, she's losing to a fellow Democrat in two early primary states, losing to three Republicans nationally, and may be facing a new opponent, Vice President Joe Biden.

At the same time, Jeb Bush was the top Republican, with a narrow lead over a half-dozen opponents. Today, 17 candidates are seeking the GOP nomination, the most ever, and billionaire reality-show host Donald Trump is the new frontrunner.

What does this electoral chaos mean for America? What will be the impact on China and Asia? Is this any way to choose the leader of the free world? We'll have a candid discussion of the state of US politics and what it means for the global community.

“The Nostradamus of pollsters” Frank Luntz has become so influential that Barack Obama prior to his 2008 US presidential win said, ‘When Frank Luntz invites you to talk to his focus group, you talk to his focus group’.

Luntz has written, supervised and conducted more than 2,000 surveys, focus groups, ad tests, and dial sessions across four continents over the past decade. He has become the go-to consultant when Fortune 100 companies need communication and language guidance to navigate the economic climate and connect more closely with consumers.

The “Instant Response” focus group technique he pioneered has been profiled on 60 Minutes, Good Morning America and on the award-winning PBS show Frontline. He also served as a consultant to the award-winning NBC hit show The West Wing.

He is the author of The New York Times best seller, Words that Work: It’s Not What You Say, It’s What People Hear and What Americans Really Want . . . Really.

Luntz graduated from the University of Pennsylvania with honours in history and political science, and was awarded a Thouron Fellowship. He received his doctorate in politics at the age of 25 from Oxford University.

Registration Desk Lobby Level

Tuesday to Thursday: 07:00-18:00

Friday: 07:30-14:30

2/14

Mindfulness and the power of possibility Ellen Langer Professor of Psychology, Harvard University

12:30-14:00 Tuesday, Luncheon Keynote, Track 1, Grand Ballroom, LL

Virtually all of our problems - professional, interpersonal, personal and societal - stem from mindlessness. We simply are not thinking, blinding ourselves to new possibilities. But Dr Ellen Langer has found turning this around to focus on and encourage mindfulness is far easier, and increasingly more important, than most believe. For business leaders, mindfulness isn’t just about being tuned in and keeping pace; it’s a strategy to improve personal and company-wide performance and productivity, to innovate and push boundaries. And in an era of mounting pressure and uncertainty, those capabilities are critical. Langer delves deep into the “power of possibility,” and through her research and real-world examples, helps leaders understand how to be mindful, notice new things, make it meaningful and prosper.

Langer is a social psychologist and the first female professor to gain tenure in the Psychology Department at Harvard University. She is the author of 11 books and more than 200 research articles written for general and academic readers on mindfulness. Her best-selling books include: Mindfulness; The Power of Mindful Learning; On Becoming an Artist: Reinventing Yourself Through Mindful Creativity; and Counterclockwise: Mindful Health and the Power of Possibility. Her most recent book, the Wiley Mindfulness Handbook, is an anthology integrating leading researchers’ work derived from Langer’s western scientific theoretical base of mindfulness and research on eastern meditation.

Creativity and connection: The humanism of technology Eric Whitacre Composer, Music Productions Ltd 17:00-18:00 Tuesday, Closing Keynote, Track 1, Grand Ballroom, LL

Grammy-winning American composer and conductor Eric Whitacre is the creator of the “Virtual Choir,” a digital project that combines thousands of videos into a single stunning choral performance. The choir transcends geography, class, and background, and is a testament to the power of leadership and technology to foster creativity and connection even in the most challenging circumstances. Whitacre will speak about the rise of organic humanistic online communities born through the Virtual Choir and the relationship this has to the creative process.

Whitacre’s original Virtual Choir video received more than four million hits on YouTube and won plaudits for both its emotional power and technical accomplishment. The most recent instalment in the series, Virtual Choir 4: Fly to Paradise, features 8,409 videos from 5,905 singers representing 101 countries. It premiered in 2013 at Buckingham Palace as part of the Coronation Festival’s gala performances.

Whitacre attended the world famous Julliard School, which led to him writing for the London Symphony Chorus and Orchestra, Chanticleer, Julian Lloyd Webber and the Philharmonia Orchestra, Berlin Rundfunkchor and The King’s Singers, among others. His musical, Paradise Lost: Shadows and Wings, won both the ASCAP Harold Arlen Award and the Richard Rodgers Award and earned 10 nominations at the Los Angeles Stage Alliance Ovation Awards. As a conductor, he has performed all over the world. In 2012, Whitacre’s album, Light & Gold, won a Grammy for best choral performance. His current album, Water Night, reached No.1 in the classical iTunes chart on the day it was released.

3/14

Specialist Sessions Liquid metal battery: The key to integration of renewable sources of energy into the electrical grid Donald Sadoway Professor, Massachusetts Institute of Technology

09:30-10:30 Tuesday, Track 1, Grand Ballroom, LL Massive electricity storage would offer huge benefits to today's grid, reducing price volatility, improving stability against loss of power, increasing utilisation of generation assets by enabling us to design towards average demand instead of peak demand, and deferring the costs of upgrading existing transmission lines. When it comes to tomorrow's grid, storage is critical to widespread integration of renewables, ie, solar and wind, which due to their inherent intermittency present challenges for contribution to base load.

Comprising two liquid metals and a molten salt electrolyte, the liquid metal battery has been invented to offer colossal current capability and long-service lifetime at very low cost, ie, the price point of the electricity market. The round-trip efficiency of these batteries is greater than 75% with a duty cycle of four hours’ discharge. Fade rates of 0.0002%/cycle have been measured which means retention of less than 99% of initial capacity after 10 years of daily cycling and 80% of initial capacity after 300 years of daily cycling.

Donald Sadoway is the John F Elliott professor of materials chemistry in the department of materials science and engineering at the Massachusetts Institute of Technology. The author of more than 150 scientific papers, he obtained his PhD in chemical metallurgy from the University of Toronto and holds 21 US patents. His research focuses on developing rechargeable batteries for grid-level storage and carbon-free production of metals. Sadoway is the founder of two companies, Ambri and Boston Electrometallurgical. His renowned TED talk is a narrative about inventing inventors as much as it about inventing technology. In 2012, he was named by Time as one of the 100 most influential people in the world.

4/14

Election and market outlook Joelian Tseng Head of Taiwan Research, CAST

09:30-10:30 Tuesday, Track 2, Grand I & II, LL With valuations at a 10-year trough and the upcoming iPhone 6S launch in 4Q15, the Taiex look poised for a rebound. However, the upcoming presidential election and China’s decelerating growth could slow the momentum. Head of Taiwan Research Joelian Tseng highlights the election outlook and market strategy.

The next presidential election will be on 16 January 2016. The polls indicate a strong lead for the DPP candidate and Taiwan may elect its first female president. However, the new government will need to deal with pressing policy issues such as tax and pension reforms to resolve the fiscal burden and support growth. In addition, cross-strait agreements with China are important but not as critical, as negotiation channels remain open and significant progress has been made since 2008.

Joelian Tseng joined CLSA as Head of Research in Taiwan in June 2015, focusing on strategy and non-tech sectors. Prior to joining CLSA she spent four years as Deutsche Bank’s Head of Taiwan Research, covering strategy and consumer, and before that she was with Nan Shan Life Insurance for 13.5 years, including six as Head of Equity Investment, where she led the equity-investment and structural-products team. Joelian graduated from City University of New York with a Master’s degree in Economics.

Explaining anarchy in today's world Robert Kaplan Senior Fellow, Center for a New American Security

10:30-11:30 Tuesday, Track 1, Grand Ballroom, LL The end of imperialism and post-imperial strongmen, the lack of institutions, feeble state identities, doctrinal battles over religion and the partial exit of outside powers are the reasons for chaos in the Middle East. In Asia, the problem is reversed: there we have strong states that for the first time in the postmodern era are able to project power outward, and thus are weakening the naval Pax Americana of the Cold War and post-Cold War eras. In Greater Europe, traditional Russian imperialism using postmodern subversion techniques is occurring during a time of internal fracturing of the European Union. So far we have seen anarchy in small and medium-sized states. But Robert Kaplan believes we have to worry about the internal stresses upon bigger states such as Russia, Iran and China.

Kaplan is the bestselling author of 15 books on foreign affairs and travel including Asia’s Cauldron, The Revenge of Geography, Monsoon, Balkan Ghosts, and Eastward to Tartary. He is a senior fellow at the Center for a New American Security in Washington and a contributing editor at The Atlantic, where his work has appeared for three decades. He was chief geopolitical analyst at Stratfor, a visiting professor at the US Naval Academy, and a member of the Pentagon’s Defense Policy Board, appointed by Secretary of Defense Robert Gates. Foreign Policy magazine twice named him one of the world’s “Top-100 Global Thinkers”.

5/14

India strategy - Multiple legs Mahesh Nandurkar Executive Director, India, CLSA

10:30-11:30 Tuesday, Track 3, Grand III & IV, LL

Falling inflation, demographics driving developmental politics, improving government efficiency and rising domestic equity inflows imply that the long-term outlook for Indian equities is bright. Investors should, however, be prepared to tolerate lower growth as several long-term catalysts adversely impact the near term. On the positive side, the bottoming out of corporate profitability is visible which means earnings support will come, but the wait will be much longer than initial expectations because weak rural demand and a property slowdown were underappreciated. Investment cycle uptick is unlikely before FY17. Mahesh Nandurkar’s top ideas unleveraged to the capex cycle are Infosys, Bharti Airtel, HDFC Bank, Maruti Suzuki, Reliance Industries, Sun Pharma and Zee Entertainment. Long-term capex cycle-driven stock ideas include ICICI, Ultratech, Adani Ports and Larsen & Toubro.

Thailand remake Suchart Techaposai Head of Thailand Research, CLSA

11:30-12:30 Tuesday, Track 2, Grand I & II, LL

Thailand will undoubtedly return to growth after three consecutive years of subpar growth, low investment, high household debt and declining exports. The military government has lowered private investment bureaucratic costs, accelerated public infrastructure projects and provided more measures to support farmers and SMEs. In turn, Suchart Techaposai expects to see growth in three stages: reforms and public infrastructure; domestic demand revival, and exports.

The SET is cheap and provides a value entry point into strong franchised companies. Suchart will discuss Thai stocks with quality at a reasonable price (Qarp) and growth at a reasonable price (Gary) to add to your investment portfolio.

6/14

Modern day slavery: The exploitation of Asia’s most vulnerable Michael Brosowski Founder, Blue Dragon Children's Foundation

Mike Nowlin Deputy Country Director, Hagar Cambodia

11:30-12:30 Tuesday, Track 5, Drawing Room, M/F

Tackling modern-day slavery is a daily battle for both Michael Brosowski, founder of Blue Dragon Children’s Foundation in Vietnam and Mike Nowlin, Deputy Country Director of Hagar Cambodia, two Chairman’s Trust supported charities. Throughout Cambodia and Vietnam, thousands of men, women and children fall victim to human trafficking annually. While the route to trafficking varies significantly and includes a lack of awareness, ill-informed labour decisions, pressure from family or community members and coercion or force, the pathway to being trafficked is often economically based.

This Chairman’s Trust session will shed some light on the exploitation of some of Asia’s most vulnerable, and highlight initiatives implemented by Hagar and Blue Dragon Foundation to address this injustice.

Brosowski will discuss Blue Dragon’s efforts to rescue and rehabilitate Vietnamese women and children from sex trafficking in China, as well as its program rescuing, rehabilitating and preventing domestic labour trafficking, predominately within sweatshops.

Nowlin will focus on Hagar’s holistic model of protection, personal well-being, economic empowerment and reintegration of women and children at risk of trafficking in Cambodia.

Human enhancement, human liberation Julian Savulescu Director, University of Oxford

11:30-12:30 Tuesday, Track 6, Lounge Room, M/F

Criminality, self-control, intelligence and even success in relationships have all been found to have some biological basis. Recent developments in human-enhancement technologies have meant that we can use science and medical technology not just to prevent or treat disease, but to intervene at the most basic biological levels to improve biology and enhance people's lives. Examples include drugs such as Modafenil (the subject of the film Limitless), Ritalin and Adderall, gene editing and brain stimulation.

Using technology, we can overcome the genetic lottery that limits us, enabling us to lead better lives with greater wellbeing both for individuals and society as a whole. Professor Julian Savulescu will argue the case for human enhancement, dealing with a range of objections and arguing that there are good social and public interest arguments in favour of obligatory population level enhancements based on social and economic arguments, and the necessity to liberate humanity.

Savulescu is a leader in medical and practical ethics, with degrees in medicine, neuroscience and bioethics. He holds the Uehiro Chair in Practical Ethics at the University of Oxford and is the director of the Oxford Uehiro Centre for Practical Ethics within the faculty of philosophy as well as the director of the Oxford Centre for Neuroethics.

7/14

Why information grows: The evolution of order, from atoms to economies César Hidalgo Associate Professor, The MIT Media Lab, Massachusetts Institute of Technology

14:00-15:00 Tuesday, Track 1, Grand Ballroom, LL Economies are computers embodied in social networks and our world is made of bits. To understand differences in income, we need to understand differences in the capacities of economies to compute. Rich and sophisticated economies, like that of Japan, Korea or Sweden, are sophisticated computers with an enormous ability to transform imagination into reality. Less-sophisticated economies, like those of many sub-Saharan and Latin American countries, are computers that struggle to embody the computational power needed to make complex things, and hence, struggle to make their economies grow.

Physicist César Hidalgo creates colourful visual “maps” based on mathematical models to illuminate mountains of difficult-to-grasp data and complex systems - invaluable tools for policymakers and businesses. Focusing on factors that nurture economic growth and prosperity, Hidalgo gathers and studies information that includes the products that countries create, what they import, what they export, national values, and cultural characteristics. His findings generate ideas and predictions for future economic success and prosperity for countries and regions.

Several of Hidalgo’s projects have drawn global recognition for their novelty and usefulness, including the Pantheon Project on historical cultural production, mapping linguistic connections using more that 2.2 million book translations, over 500 million tweets and all language editions of Wikipedia. Hidalgo is the author of Why Information Grows: The Evolution of Order, from Atoms to Economies (June 2015), which combines the seemingly disparate fields of economic development and physics to present a new rubric for economic growth. He is also coauthor of The Atlas of Economic Complexity: Mapping Paths to Prosperity (MIT Press).

Contrarian low beta Shaun Cochran Korea Country Head, CLSA

14:00-15:00 Tuesday, Track 3, Grand III & IV, LL Korea is struggling for relevance in a low-growth world where shrinking global trade value makes export dependency unattractive. Meanwhile, restructuring efforts at the chaebols, albeit positive long term, typically involve transactions that disadvantage minorities. Compounding the frustration for foreign investors has been an aggressive rotation to mid- and small-cap growth stocks that make up a small part of the benchmark, but have seen extraordinary reratings on lofty growth expectations to now command very high multiples well into the forecast horizon.

This has not been a normal global cycle as evidenced by the contrasting signals of Korea’s wide current account and now contracting exports. Korea’s trading pattern is shifting. Shaun Cochran will walk through his strategy, explaining how a barbell of selective value and growth has outperformed and can continue to do so. He will explain why investors will want to enter Korea earlier in the next cycle (especially relative investors) and why tactical trading opportunities toward much maligned beta may well be presenting itself. Finally he will discuss how chaebol restructuring could potentially create some once-in-a-generation investment opportunities over the next six to 18 months.

8/14

Managing top talent: Ideas from the world of elite sport Mike Forde Founder and CEO, Ingenio Management

15:00-16:00 Tuesday, Track 1, Grand Ballroom, LL We all sit back and admire great talent when we see it. When it is working selflessly and in great harmony, we know this is a rare sight in sport or business. Stop admiring and start creating it yourself.

All great teams did not start great. They were formed, nurtured and developed along the way. Through working intimately over two decades with some of the very best sports teams, Mike Forde has the unique position of seeing up close and personal some of the world’s best talent. His one piercing insight through this journey is that building talent teams is a process that anyone can follow and replicate.

Are you tired of being part of an underperforming team? Frustrated in being in a team that has obvious great talent and amazing potential that doesn’t deliver consistently? There is a tool kit and approach waiting for you to build your own talent factory.

In this talk, you will learn how to create an environment where top talent will be attracted to and want to stay with you on the journey; and how to create a set of clear boundaries for the great talent to express themselves, but to do as clear team players.

A leading authority on elite talent and high performance, Forde is widely recognised for driving innovation and cutting-edge methods in managing world-class champions. His pioneering practices have become a benchmark for leading teams across the globe.

Aside from his long association with the English Premier League, Forde has advised on building high-performance cultures and talent management across a range of global sports and teams, including the 2014 NBA champions San Antonio Spurs, 2014 European champions Real Madrid and two-time Tour de France winners Team Sky Cycling.

Under his tenure as director of football operations and executive club director for Chelsea Football Club from 2007 to 2013, the team won the UEFA Champions League, Europa League, Premier League title and three FA Cups.

Forde is also a former performance director for the Bolton Wanderers Football Club. He holds a BSc in sport science from Liverpool John Moores University, and a MSc in psychology and sport from San Diego State University.

9/14

Mathematics and sex Clio Cresswell Senior Lecturer in Mathematics, The University of Sydney

16:00-17:00 Tuesday, Track 1, Grand Ballroom, LL Analytical, logical, critical and abstract reasoning govern business decisions. Why not apply the same rationale to sex and romance? After all, we now have equations explaining love, marital bliss and the number of partners to have before we stop playing the field. It’s the latest mathematical research, going much further than numbers and probabilities. Mathematics and sex are deeply intertwined as it turns out.

Mathematics is the study of patterns: their discovery, their interconnections and their implications. And, in the context of human behaviour, patterns abound, so mathematics provides unique and exciting insights. But it goes further still as we can also use sex to foster types of thinking to help problem solving. Dr Clio Cresswell will expose these connections, and in doing so reaffirms the relevance and creativity of mathematics, the flexibility of our brains and how then one might best integrate into the development the many rationalisations encountered in today’s business. You might also gain some relationship tips along the way.

With a high-level career at one of Australia's premier educational institutions, the University of Sydney, Cresswell is one of the country's most entertaining scholars. Her specialty is connecting themes between apparently unconnected subjects. It is this sophisticated approach that has earned her notable kudos as an MC, keynote and essayist. She features regularly on television, on air and in the press, with celebrity interviews, serious book reviews, not-so-serious radio, relationship advice and expert panel appearances. Her internationally acclaimed book Mathematics and Sex has been translated into several languages.

Diversity has been a constant theme in Cresswell's life. Born in England, she spent her early childhood on a Greek island and was schooled in the south of France where she studied visual art. At 18, she moved to Australia where she discovered the joys of mathematics. Cresswell pursued the field at the University of New South Wales, going on to win the University Medal and complete a PhD. Today, she resides in the USA, where she continues to write.

10/14

Chinese pharma - Weighing the gain Serena Shao China Healthcare Analyst, CLSA

15:00-16:00 Tuesday, Track 3, Grand III & IV, LL

China’s pharmaceutical market is becoming crowded. Home-grown companies are viewed either as manufacturers of large active pharm ingredients (API) in the global market or low-quality generic drug producers domestically. Around 3,700 players account for 75% of annual sales, of which 95% operate in low-value generics.

Despite increasing competition, several industry pioneers, with talent pools that ventured overseas to gain experience through education and employment at big pharma firms in the West, have developed strong inhouse R&D capacity that enable them to innovate, develop more complicated drug products, even biologics, and move into more developed markets such as the USA. Combined with strategic acquisitions and partnerships, this could enable them to move up the drug value chain and drive significant reratings. Chinese A-share listed Jiangsu Hengrui and Huahai have already achieved significant revenue in the US market. Serena Shao expects Fosun Pharma (2196 HK) and Luye Pharma (2186 HK) to be the next two rising stars in this space

Global commodities - Expectations lowered Andrew Driscoll Head of Resources Research, CLSA

16:00-17:00 Tuesday, Track 6, Lounge Room, M/F

Hopes that metals demand would improve mid-year have been dashed as China’s economy slowed through the summer. Consumer sectors in particular have suffered, with auto output declining in 2Q15 for the first time since 4Q08. Consequently, our commodity team’s preference for base metals over bulks has not been working, with prices continuing to grind lower, and favorites at the beginning of the year - copper and nickel - now back to lows not seen since the financial crisis. More recently, renminbi devaluation has become another headwind for metals prices, lowering China’s cost level versus peers and raising the likelihood of more exports of aluminum, steel and even coal.

In contrast to the weakness in base metals, iron ore has been a relative outperformer in recent months, as supply adjusted quickly at the start of the year to lower price levels. Though prices have stabilised around US$60/t in recent months, the outlook over the next few years remains negative, with over 200mt of additional low-cost supply still to enter the seaborne market. With mining costs having fallen so far, prices will have to fall to even lower levels to force further mine closures. As commodity prices have declined, producers’ focus has inevitably shifted to productivity gains and sustainable cost improvements. The global majors are leading the charge, and have stripped billions of dollars out of their cost structure to support margins and cash flow generation. Meanwhile, their progressive dividend policy and concerns over funding means dividend yields have increased to a tempting 5-6%. The sector has underperformed again this year, and expectations have rebased lower. Andrew Driscoll identifies a number of investment opportunities by focusing on the low-cost operators with strong balance sheets, but advises investors to continue to avoid the leveraged names.

11/14

Tonight’s Social Activities… Twilight: A journey in whisky appreciation: Whisky mastermind 18:30–19:30, Track 7, M/F, Grand Hyatt Hotel Zachary Yu will take you on a whiskey journey and show you how to identify whiskeys from different countries by understanding their history, making process and key tasting notes. Take the whiskey mastermind tasting quiz during the session and see how sharp your palate is.

Evening: Dine around town 19:00 till late Dine around town and taste the best that Hong Kong has to offer. After dinner, join us for more drinks and great music at Oolaa in Soho.

Buses depart from the Grand Hyatt lobby from 18:30.

Restaurants: Aberdeen Street Social, G/F, PMQ, 35 Aberdeen Street Host: CLSA China, Hong Kong With branches in London, Singapore and Shanghai, ASS features Michelin-star chef Jason Atherton’s modern British cuisine, delicious desserts and great cocktails.

Blue Butcher, 108 Hollywood Road Hosts: CLSA Australia, UK Carefully sourced from single-grower farms in the premier cattle-raising regions of Australia and North America, Blue Butcher serves meats that are dry-aged and prepared in-house and cooked on custom-made charcoal grills in an open kitchen.

Cecconi’s Italian, 2/F, Carfield Building, 77 Wyndham Street Hosts: CLSA India Enjoy Italian favourites with modern and innovative touches, created by award-winning Australian chef Michael Fox.

Isono, 6/F, Block B, PMQ, 35 Aberdeen Street Hosts: CLSA Korea, Taiwan, Japan This Spanish-centric Mediterranean kitchen serves up rustic and authentic dishes from France, Spain and Italy.

Oolaa, G/F, Centrestage, Bridges Street, Soho Host: CLSA Asean Enjoy a diverse variety of innovative food and drinks at this popular Hong Kong hangout.

Tango, 1/F, Carfield Building, 77 Wyndham Street Host: CLSA Americas Tango serves prime cuts of Argentinian beef with an impressive wine list to match.

12/14

Tomorrow… Wednesday Keynotes

Clean disruption: Why conventional energy and transport will be obsolete by 2030 Tony Seba Lecturer, Stanford University

08:00-09:30 Wednesday, Breakfast Keynote, Track 1, Grand Ballroom, LL

We are on the cusp of the most radical transformation of energy and transport in a century. Exponential cost improvement in technologies like solar, energy storage, electric and autonomous vehicles combined with new business model and financial innovations and disruptive product design enabled by this convergence will turn the whole energy and transport infrastructure on its head as soon as 2020 and make coal, oil, nuclear, natural gas, conventional utilities, and conventional cars obsolete by 2030.

Tony Seba will talk about how this disruption will evolve and why it will be both swift and inevitable. He will also show how it will disrupt or radically transform adjacent industries such as insurance, parking and real estate, and enable our cities to be redesigned.

A Silicon Valley entrepreneur and renowned author, Seba lectures in entrepreneurship, disruption, and clean energy at Stanford University.

His work focuses on market disruption and the exponential technology trends and product/business-model innovations that are on the cusp of disrupting the world’s major industries.

His latest book, Clean Disruption of Energy and Transportation - How Silicon Valley Will Make Oil, Nuclear, Natural Gas, Coal, Electric Utilities and Conventional Cars Obsolete by 2030 is a best-seller. Previous books include Solar Trillions - 7 Market and Investment Opportunities in the Emerging Clean-Energy Economy and Winners Take All - 9 Fundamental Rules of High Tech Strategy.

Seba is an advisor to policymakers, investors, and corporations around the world. He holds an MBA from Stanford University Graduate School of Business and a BS in computer science and engineering from the Massachusetts Institute of Technology.

13/14

A conversation with Nicolas Cage Nicolas Cage Actor, director and producer

12:30-14:00 Wednesday, Luncheon Keynote, Track 1, Grand Ballroom, LL Nicolas Cage will join us over lunch for an intimate conversation stretching from filmmaking to human rights to Oliver Stone’s upcoming movie Snowden in which he appears next. From his achieving landmarks of critical success to his mega-fame trajectory in both action and independent films, Cage is one of the most prolific actors of all time, equally known for his poignant portrayals in both drama and comedy.

He has starred in worldwide box office successes including five collaborations with producer Jerry Bruckheimer including The Rock, Con Air and Gone in 60 Seconds. His memorable performance as an alcoholic in the drama, Leaving Las Vegas, earned him an Academy Award as well as Golden Globe and Best Actor awards from numerous critic circles. Cage further solidified his leading man status when he received Academy Award, Golden Globe, Screen Actors Guild and BAFTA nominations for his dual role as twin brothers 'Charlie' and 'Donald Kaufman' in Spike Jonze's quirky comedy, Adaptation.

Cage’s portrayal of a tormented Vietnam vet in Birdy galvanised his reputation as a serious actor. He then received a Golden Globe Best Actor nomination for his role as Cher's lover in Moonstruck. Other honours include a Golden Globe nomination for his role in Honeymoon in Vegas, the prestigious Lifetime Achievement Award from the Montreal World Film Festival in 1996, the first-ever Distinguished Decade in Film Award at ShoWest in 2001, and a prestigious American Cinematheque honour in 2001. He has appeared in or provided a character voice in some 82 films.

In 2013, Cage renewed his appointment as a Goodwill Ambassador for Global Justice for the United Nations, committing to a second tenure of two years. In 2009, he travelled to Africa to undertake a mission with the UN’s Office of Drugs and Crime in Gulu, Uganda, Mombasa, Kenya and Nairobi, Kenya. There, he met with child soldiers, gang members, inmates, Kenyan judges and magistrates to help stop human trafficking, child slavery and kidnapping. Cage is also a Luminary for Amnesty International.

14/14

A conversation with Edward Snowden Edward Snowden Former intelligence officer, CIA

17:00-18:00 Wednesday, Closing Keynote, Track 1, Grand Ballroom, LL US intelligence whistleblower Edward Snowden makes a virtual return to Hong Kong via videolink from Moscow.

Snowden is a former intelligence officer who served the CIA, National Security Agency and Defense Intelligence Agency for nearly a decade as a technology and cybersecurity expert. In 2013, he lifted the lid on the “post-9/11 US eavesdropping industry” revealing that the NSA was seizing the private records of tens of millions of individuals who had not been suspected of any wrongdoing, resulting in the most significant reforms to US surveillance policy since 1978. He has received awards for courage, integrity, and public service, and was named the top global thinker of 2013 by Foreign Policy magazine. Today he works on methods of enforcing human rights through the application and development of new technologies. He joined the board of Freedom of the Press Foundation in February 2014.

Snowden’s first port of call after fleeing the United States in 2013 was Hong Kong, where he first met the journalists that have assisted him in his ongoing campaign. The Hong Kong authorities did not restrict his movement while on their territory and allowed him free passage on his way to Moscow, where he is now stationed indefinitely. So, it is fitting that we welcome him back to Hong Kong for our Forum. It is even more fitting that this comes on the day we talk with Nicolas Cage, whose next acting role is in Oliver Stone’s movie Snowden, set for release in December.

Tomorrow’s Social Activities… Twilight: Parenting 101: Active Listening Wednesday, 16 Sep, 18:30–19:30, Track 7, M/F, Grand Hyatt Hotel We are our children's first counsellors but we often speak in ways that harm, rather than help them. Come practise Active Listening (“AL”) with Catherine Khang Banson, certified Parent Effectiveness Training instructor, blogger and mother of three. AL is hard, but doable and oh-so-important!

Evening: CLSA Altitude Wednesday, 16 Sep, 19:00 till late CÉ LA VI, 25/F, California Tower, 32 D’Aguilar Street, Central CLSA takes over Hong Kong’s newest and hottest night spot, CÉ LA VI. Join us for an evening that will ‘stimulate the senses, elevate the spirit, amplify passion and fuel the pursuit of pleasure’.

Buses depart from the Grand Hyatt lobby from 18:30.

Provisional schedule as of 14 September 2015 Grand Hyatt Hong Kong, 14-18 September 2015

CLSA Limited 18/F One Pacific Place, 88 Queensway, Hong Kong Tel: +852 2600 8888, Fax: +852 2530 0827, Email: forum@clsa.com, www.clsa.com

Schedule is subject to changes as necessary.

THU TRACK 08.00 - 09.30 09.30 - 10.30 10.30 - 11.30 11.30 - 12.30 12.30 - 14.00 14.00 - 15.00 15.00 - 16.00 16.00 - 17.00 17.00 - 18.00

1

How frightening is tightening?¹²³ David Roche, Independent Strategy

Why jihadis weep and what that tells us about terrorist recruitment² Thomas Hegghammer, Norwegian Defence Research Establishment

Defying aging: The fountain of youth is around the corner² Nathan LeBrasseur, Mayo Clinic

Kitchen sink² Francis Cheung, CLSA

Behavioural economics and the psychology of money¹²³ Dan Ariely, Duke Institute

Lift off - The rise of ASEAN e-commerce² Paul McKenzie, CLSA

Sharing economy² Sam Gellman, Uber

Apocalypse not now² Nicholas Smith, CLSA

Impossible is just an opinion: The story of the longest-ever polar journey on foot¹² Ben Saunders, Polar Explorer

2 Singapore@60: A look at Singapore in 2025² Jonathan Galligan, CLSA

Sydney Airport (AU airport)

Ezion (SG miscellaneous)

Ayala Land (PH property)

AKR Corporindo (ID chemicals/oil/gas)

AirAsia (MA airlines)

3

The Australian housing bubble - The magic dragon revisited² Brian Johnson, Andrew Johnston, Sholto Maconochie & David Murphy, CLSA

3SBio (CN Pharma/Biotech)

Hutchison China MediTech (HK healthcare)

Vietnam panel - Time to take a fresh look?² Frederick Burke, Baker & McKenzie & Nguyen Duc Tai, Mobile World Investment Corporation & Nguyen Thi Diu, Vingroup

Reform, reinvent, revive: Investment opportunities presented by low oil² Narongpand Lisahapanya, Vikash Kumar Jain, Nelson Wang & Ken Shin, CLSA

James Hardie Industries (AU materials)

4 PTT Public (TH power/utilities)

China Shenhua Energy (CN materials)

The myths about ageing Asia² Dave McCaughan, Bibliosexual

Hang Seng Bank (HK banks/financial)

The emperor’s new clothes² Anand Pathmakanthan, CLSA

PAX Global Technology (HK technology)

5 JG Summit (PH conglomerates)

Ayala Corp (PH conglomerates)

Yoma Strategic (SG property)

Blue Bird Group (ID transportation)

Fubon Financial (TW banks/financials)

Wharf (HK conglomerates)

6

Back to the top of the asset class² Dominic Scriven & Bill Stoops, Dragon Capital Group

Raining casinos: Too many or not enough?² Aaron Fischer, CLSA

2020 foresights: Accelerating technology innovation and the coming Internet of Things² Edward Maguire, CLSA

Critical drivers for the oil & gas markets ² Fereidun Fesharaki, Facts Global Energy

One Belt, One Road² Qin Peijing, CITIC Securities & Alexious Lee, CLSA

Make the internet free² Nathan Eagle, Jana Mobile

7 Shinhan Financial Group (KR banks/financials)

Rakuten (JP internet/e-comm/sw)

HDFC (IN banks/financials)

Hong Kong Broadband (HK telecom)

Metro Pacific Investments (PH conglomerates)

Bank Mandiri (ID banks/financials)

FRI TRACK 09.00 - 10.00 10.00 - 11.00 11.00 - 12.00 12.00 - 13.00 13.00 - 14.30

1 Smartcuts: The science of lateral thinking for accelerated growth and change¹² Shane Snow, Contently

Risky business: The CLSA Asia Risk Appetite Index²³ Avinash Persaud, Intelligence Capital Ltd and Elara Capital

Forensic accounting: The evolution of short selling and accounting fraud²³ Paul Gillis, Peking University's Guanghua School of Management

China: Inclusion pathway and its impact on Asia and emerging-market mandates²³ Christopher Ryan, MSCI

Academics at central banks who don't understand economic problems will always have solutions¹a²³ Marc Faber, Marc Faber Ltd

¹ Session is open to media. | ¹a Open to media via live feed. Media should proceed to Track 2. | ² Eligible for a certificate of attendance. | ³ CFA Institute has approved this program, 1-1.5 CE credit hours. If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE tracking tool. | Please note that CPT points can only be granted by delegate’s internal compliance department.

Provisional schedule as of 14 September 2015 Grand Hyatt Hong Kong, 14-18 September 2015

CLSA Limited 18/F One Pacific Place, 88 Queensway, Hong Kong Tel: +852 2600 8888, Fax: +852 2530 0827, Email: forum@clsa.com, www.clsa.com

Schedule is subject to changes as necessary.

TUE

TRACK 08.00 - 09.30 09.30 - 10.30 10.30 - 11.30 11.30 - 12.30 12.30 - 14.00 14.00 - 15.00 15.00 - 16.00 16.00 - 17.00 17.00 - 18.00

1

The rise of Trump, the fall of Clinton, and the strangest US presidential election in modern history¹²³ Frank Luntz, Luntz Global

Liquid metal battery: The key to integration of renewable sources of energy into the electrical grid² Donald Sadoway, Massachusetts Institute of Technology

Explaining anarchy in today's world² Robert Kaplan, Center for a New American Security

JD.com (CN internet/e-comm/sw)

Mindfulness and the power of possibility¹² Ellen Langer, Harvard University

Why information grows: The evolution of order, from atoms to economies²³ César Hidalgo, The MIT Media Lab

Managing top talent: Ideas from the world of elite sport² Mike Forde, Ingenio Management

Mathematics and sex² Clio Cresswell, The University of Sydney

Creativity and connection: The humanism of technology¹² Eric Whitacre, Music Productions Ltd

2 Election and market outlook² Joelian Tseng, CA Securities Taiwan

L'Occitane (HK consumer)

Thailand remake² Suchart Techaposai, CLSA

Xinyi Glass (HK materials)

Universal Robina Corp (PH consumer)

Hermes Microvision (TW electronics/tech)

3 Bharti Infratel (IN telecom)

India strategy - Multiple legs² Mahesh Nandurkar, CLSA

Macau Legend (HK gaming/hotel/leisure)

Contrarian low beta² Shaun Cochran, CLSA

Chinese pharma - Weighing the gain² Serena Shao, CLSA

Adani Group (IN conglomerates)

4 Samsonite International (HK consumer)

China Telecom (CN telecom)

Hindustan Unilever (IN consumer)

Television Broadcasts (HK media/broadcasting)

BOC Hong Kong (HK banks/financial)

Goodman Group (AU property)

5 Treasury Wine Estates (AU food/staple retail)

PT Bank Rakyat (ID banks/financials)

Modern day slavery: The exploitation of Asia’s most vulnerable² Michael Brosowski, Blue Dragon Children's Foundation & Mike Nowlin, Hagar Cambodia

Cathay Financial (TW banks/financials)

Airtac International (TW industrials)

Telekom Malaysia (MA telecom)

6 BlackRock (US banks/financials)

Wynn Resorts (US gaming/hotel/leisure)

Human enhancement, human liberation² Julian Savulescu, University of Oxford

Infosys (IN electronics/tech)

Fireside Chat with LinkedIn China President (US internet/e-comm/sw)

Global commodities - Expectations lowered² Andrew Driscoll, CLSA

7 Tackling headwinds and delivering on targets Richard Lorentz, KrisEnergy (SG chemicals/oil/gas)

Info Edge (India) (IN internet/e-comm/sw)

Canvest Environmental Protection Group (HK power/utilities)

Consistel (SG telecoms)

Dialog Axiata (SL telecom)

Pacific Basin (HK transportation)

WED TRACK 08.00 - 09.30 09.30 - 10.30 10.30 - 11.30 11.30 - 12.30 12.30 - 14.00 14.00 - 15.00 15.00 - 16.00 16.00 - 17.00 17.00 - 18.00

1

Clean disruption: Why conventional energy and transport will be obsolete by 2030? ¹² Tony Seba, Stanford University

Accelerating disruption?² Horace Dediu, Independent Consultant

China: A global and structural view of the economic outlook²³ Peng Wensheng, CITIC Securities

Helter skelter² David Murphy, CLSA

A conversation with Nicolas Cage

China is betting the future on internet² Elinor Leung, CLSA

P2P lending and crowdfunding - A global perspective²³ Robert Reoch, New College Capital

The battery revolution: What to expect and where to invest² Chet Lyons, Energy Strategies Group

A conversation with Edward Snowden²

2 Petrobras (BR chemicals/Oil/Gas)

Sun Hung Kai Properties (HK property)

Naver (KR internet/e-comm/sw)

Hiding places and falling knives² Rajesh Panjwani, CLSA

PCHome Online (TW electronics/tech)

Huy Vietnam (VN consumer)

3 Ctrip.com (CN internet/e-comm/sw)

Midcats and Moats² Amar Gill & Timothy Lee, CLSA

At the crossroads² Alfred Dy, CLSA

CTBC (TW banks/financials)

Sri Lanka: What to expect in the next 60 months²³ Harsha de Silva, Sri Lanka Government

India economy: Good, better, best² Rajeev Malik, CLSA

4 China Medical System (HK healthcare)

Luye Pharma (CN pharma./biotech)

Mirvac Group (AU property)

Fortescue Metals (AU materials)

Jiangnan Group (HK materials)

China Vanke (CN property)

5 Crunch time² Sarina Lesmina, CLSA

Everything you don’t know about IAG & Insurance BUT need to Michael Wilkins, IAG (AU insurance)

ASM Pacific Technology (HK electronics/tech)

First Pacific (HK conglomerates)

Oil Search (AU chemicals/oil/gas)

PTTEP (TH chemicals/oil/gas)

6 War or peace in the South China Sea?² Bill Hayton, BBC

General Electric (US capital goods)

Life 3.0: Wearables innovation accelerates² Jody Ranck, Unison Health

Drugs 2.0 - The web revolution that's changing how the world gets high² Mike Power, The Guardian

Chain reaction - Renminbi depreciation² Nicole Wong, CLSA

Asian banks overview – Trends and major stock picks² Brian Johnson, Brian Waterhouse, Asheefa Sarangi, Patricia Cheng, Aashish Agarwal, CLSA

7 Commercial Bank of Ceylon (SL bank/financials)

Short circuit² Charles Yonts, CLSA

SCG (TH materials)

7-Eleven Malaysia (MA retail)

Axiata Group (MA telecom)

Teck Resources (CA materials)