Yum Cha 饮茶 Chile: Growth likely started Q3 on a weak note N(V): In-line 1H14 NPAT; Capital improvement impressive Above expectations, thanks to disposal gain and lower tax charge Where will the next crisis come from? Moderate growth outlook next year, forecast downgraded Is the super tanker finally turning? We think so Lowering our forecasts for 2014 and 2015 Alpha Preferences A decent 1H result; core business fairly valued