MSCI Malaysia - PIE (x) and CAPE Ix) since 2000 30 40 36 0 16 53.304 Mayas PRIV ......... .2s4. —Average PAW —.—•isti — —.Asa ..... •2441 Settee C•LOolm 6v* &bribery Fonenat LP —445V PIE —CyclicsItteljusiod PIE Sans 0•440.0 dent &001^APV We believe that this premium valuation is not warranted by the str