Thank you very much.
I'd like to thank all three of our witnesses for their opening statements. I'll just give a quick reminder as we go into the discussion that for those of you who are using in-line microphones, keep them as close to your mouth as possible. We're doing quite well on sound quality this afternoon. There are no major concerns if we just keep doing what we have been.
We will now go to our first round of questions. They consist of six-minute segments. The first one goes to Mr. Chong.
Please go ahead.