sou · GNB3138d2 · 2000-01-01 00:00:00 — %ORFN (UIDUHQKHWHU IUnQ QnJUD &DOO &HQWHU %,7( $% 7RPDV 5RJDOLQ EHUlWWDU DWW %,7( VWDUWDGHV I|U nU VHGDQ DY WYn SHUVRQHU PHQ DWW PDQ Yl[W WLOO DWW KDU IHP &DOO &HQWHUV PHG DQVWlOOGD L 6YHULJH %,7( LQJnU L HQ PXOWLQDWLRQHOO NRQFHUQ PHG KXYXGNRQWRU L )UDQNULNH %,7( VWDUWDGH PHG XWJnHQGH WHOHPDUNHWLQJ LQULNWDW Sn NRQWDNWHU PHOODQ I|UHWDJ PHQ KDQWHUDU QXPHUD EnGH XW RFK LQJnHQGH VDPWDO RFK VnYlO DIIlUV VRP NRQVXPHQWNRQWDNWHU %DQNHU RFK I|UVlNULQJVERODJ lU HQ VWRU NXQGJUXSS %,7( lU LQULNWDW Sn DWW WD KDQG RP RFK XWYHFNOD VLQD NXQGHUV NXQGYnUG RFK NXQGNRQWDNWHU , DUEHWHW LQJnU lYHQ XWELOGQLQJ RFK WHNQLNXWYHFNOLQJ 5RJDOLQ I|UXWVSnU HQ XWYHFNOLQJ IUnQ &DOO &HQWHUV WLOO .RQWDNWFHQWHUV RFK &XVWRPHU 0DQDJHPHQW &HQWHUV -DJ lU UHSUHVHQWDQW I|U GHQ GHO DY EUDQVFKHQ VRP MREEDU PHG WHOHPDUNHWLQJ -|UV|ND SUHVHQWHUD OLWH RP YnU YHUNVDPKHW %,7( VND YDU GHQ ElVWD SDUWQHUQ Sn DWW XWYHFNOD NXQGUHODWLRQHU JHQRP WHOHPDUNHWLQJ RFK WHOHVHUYLFHO|VQLQJDU 9nU SULPlUD PnOJUXSS lU NXQGLQWHQVLYD I|UHWDJ RFK RUJDQLVDWLRQHU L 6YHULJH 'HW KlU lU YnU DIIlUVLGp GHQ NRUWD YHUVLRQHQ 'HQ lU YlOGLJW HQNHO 9L MREEDU PHG DWW XWYHFNOD NXQGUHODWLRQHU 9L MREEDU PHG PDUNQDGVI|ULQJ 9L DQYlQGHU XWELOGDG SHUVRQDO 9L MREEDU PHG GH VWRUD I|UHWDJHQ L 6YHULJH L QlVWDQ DOOD EUDQVFKHU VWRUD RUJDQLVDWLRQHU RFK VWDWOLJD P\QGLJKHWHU 'HW lU HWW EUHWW VSHNWUXP DY NXQGHU 9L KHWHU QX %,7( 7HOHSHUIRUPDQFH 9L LQJnU L GHW LQWHUQDWLRQHOOD NRQVRUWLHW 7HOHSHUIRUPDQFH 9L KDU IHP &DOO &HQWHUV L 6YHULJH I\UD L 6WRFNKROP RFK HWW L *|WHERUJ LQJHQWLQJ XWDQI|U VWRUVWlGHUQD )|UUD nUHW YDU GHW SHUVRQHU VRP MREEDGH KRV RVV 0HQ WRWDOW KDQGODU GHW RP nUVDQVWlOOGD 9L RPVlWWHU L nU XQJHIlU PLOMRQHU NU Sn XSSGUDJVYHUNVDPKHWHQ VRP YL EHGULYHU 9L L YnU WXU lU HQ GHO DY HQ LQWHUQDWLRQHOO RUJDQLVDWLRQ PHG I\UD &DOO &HQWHU L 1RUJH WYn L )LQODQG RFK HWW L 'DQPDUN 7RWDOW KDU YL &DOO &HQWHUV L 1RUGHQ 9L RPVlWWHU Sn UHQ XSSGUDJVYHUNVDPKHW QlVWDQ HQ NYDUWV PLOMDUG 9L lJV WLOO SURFHQW DY 7HOHSHUIRUPDQFH ,QWHUQDWLRQDO VRP KDU VLWW KXYXGVlWH L )UDQNULNH +HOD NRQFHUQHQ RPVlWWHU I\UD PLOMDUGHU NURQRU Sn UHQ XSSGUDJVYHUNVDPKHW L OlQGHU L (XURSD 1RUG RFK 6\GDPHULND RFK $VLHQ 'H WMlQVWHUQD VRP YL EHGULYHU &DOO &HQWHU XQGHUV|NQLQJDU 1lU MDJ VlJHU WUDGLWLRQHOO Vn WlQNHU MDJ LQWH Sn KXU MDJ VNXOOH GHILQLHUD GHW XWDQ KXU GHW XSSIDWWDV QlPOLJHQ DWW YL ULQJHU KHP WLOO ULQJHU WLOO I|UHWDJ GHW lU GHWWD VRP PnQJD I|UNQLSSDU PHG EHJUHSSHW WHOHPDUNHWLQJ XWJnHQGH PDUNQDGVI|ULQJ YLD WHOHIRQ 0HQ WUDGLWLRQHOO WHOHPDUNHWLQJ lU VWRUW KRV RVV 'HW lU NQDSSW KDOYD SURFHQW DY YnU YHUNVDPKHW 'HW lU XQJHIlU KlOIWHQ EXVLQHVV WR EXVLQHVV 9L MREEDU PHG I|UHWDJ VRP VlOMHU WLOO DQGUD I|UHWDJ VWRUD GDWDI|UHWDJ HOOHU YDG GHW NDQ YDUD 1lU GHW KDQGODU RP NRQVXPHQWNRQWDNWHU UHSUHVHQWHUDU YL GH VWRUD EDQNHUQD RFK GH VWRUD I|UVlNULQJVERODJHQ RFK lU GHUDV I|UOlQJGD DUP XW PRW NXQGHUQD 'HW KDQGODU P\FNHW RP DWW YnUGD NXQGHU DNWLYHUD GHP VRP VLWWHU L VRIIRUQD RFK SnPLQQD GHP RP DWW NRQWDNWD RVV 6WDWLVWLVNW ERUGH GU\JW KlOIWHQ DY HU VRP VLWWHU KlU KD KDQGODW JHQRP LQNRPPDQGH WHOHPDUNHWLQJ 6n RPIDWWDQGH lU QX GHQ KDQGHO VRP VNHU JHQRP QXPPHU RFK WHOHIRQQXPPHU IUnQ DQQRQVHU IUnQ GLUHNWUHNODP HWF 'HW lU L VnGDQ I|UVlOMQLQJVYHUNVDPKHW VRP YL RFNVn GHOWDU )HP WLOO WLR SURFHQW DY YnU YHUNVDPKHW lU &DOO &HQWHU PlWQLQJDU L ROLND IRUPHU $WW PlWD KXU HWW &DOO &HQWHU IXQJHUDU 9L MREEDU PHG NRPSHWHQVHQ Sn &DOO &HQWHUV PHG XWELOGQLQJ RFK WUlQLQJ DY SHUVRQDO VRP ILQQV Sn DOOD &DOO &HQWHUV -9L MREEDU L DOOD IDVHU L PDUNQDGVI|ULQJVIDVHQ I|UVlOMQLQJHQ GLUHNW HIWHUPDUNQDG RFK VLVW PHQ LQWH PLQVW Sn DWW XWYHFNOD NXQGUHODWLRQHU VRP UHGDQ lU HWDEOHUDGH 'HQ VLVWD IMlUGHGHOHQ EHVWnU DY NRQVXOWYHUNVDPKHW 9L VHU HQ JDQVND VWRU PDUNQDGVSRWHQWLDO LQRP GHW RPUnGHW 0nQJD I|UHWDJ VNXOOH EHK|YD DQDO\VHU VLQD NXQGHU RFK GHUDV EHKRY L K|JUH JUDG 6n KlU YLOO YL XWYHFNOD NXQGUHODWLRQHU 'DWDEDVHQ ILQQV L PLWWHQ 0HG KMlOS DY Q\ WHNQLN YLOO YL VW|GMD YnUD NXQGHU L PDUNQDGVI|ULQJ I|UVlOMQLQJ HIWHUPDUNQDGVVW|G RFK NXQGYnUG 9L NDQ NDOOD GHW RXWVRUFLQJ JHQRP NXQGUHODWLRQHQ LQWH RXWVRUFLQJ JHQRP NXQGVHUYLFHHQKHWHQ 5HQW JOREDOW KDU YL InWW K|UD YlOGLJW P\FNHW VLIIURU 9L KDU RFNVn OLWH VLIIURU -6YHULJH L GDJ 2P YL VNXOOH KD VDPPD DQGHO DY DUEHWVNUDIWHQ V\VVHOVDWW L &DOO &HQWHU VRP L 86$ Vn VNXOOH GHW YDUD PnQJGXEEHOW IOHU DY DUEHWVNUDIWHQ HOOHU FD DQVWlOOGD bU GHW HQ |YHUJnHQGH IOXJD HOOHU QnJRW VRP KDU HWDEOHUDW VLJ RFK NRPPHU DWW ILQQDV NYDU" )|U PLJ VRP KDU MREEDW PHG GHVVD nU NlQQV GHW LQWH VRP QnJRQ |YHUJnHQGH IOXJD XWDQ VRP HQ HWDEOHUDG EUDQVFK , 6YHULJH KDU EUDQVFKHQ XQGHU GH VHQDVWH nUHQ Yl[W PHG nU -|UHWDJHW YLG UlWW WLGSXQNW 'HW YDU QlU GHW YHUNOLJHQ E|UMDGH WD IDUW 8QGHU QlVWD KHOD WDOHW YDU GHW EXVLQHVV WR EXVLQHVV RFK XWJnHQGH WHOHPDUNHWLQJ VRP GHW KDQGODGH RP 'HQ LQNRPPDQGH WHOHPDUNHWYHUNVDPKHWHQ WRJ IDUW QlU 79 VWDUWDGH RFK DQQDQ NRPPHUVLHOO 79 'HW IDQQV HWW PHGLXP GlU GHW EOHY GLUHNW UHVSRQV RFK VRP JHQHUHUDQGH EHVWlOOQLQJDU .RQVXPHQWWHOHPDUNHWLQJ WRJ IDUW L E|UMDQ Sn WDOHW RFK KDU YHUNOLJHQ H[SORGHUDW 'HW ILQQV QDWXUOLJWYLV PnQJD SUREOHP KlU 0\FNHW Sn JUXQG DY DWW PDUNQDGVI|ULQJHQ LQWH KDU JMRUWV Sn HWW EUD VlWW 0nQJD GUDU LJnQJ NDPSDQMHU XWDQ I|UHJnHQGH WHVWQLQJ RVY *|U PDQ LQWH GHP EOLU GHW LQWH DOOWLG Vn EUD 'n EOLU GHW OlWW DWW PDQ EDUD I|UV|NHU Qn XW WLOO Vn PnQJD VRP P|MOLJW RFK I|UV|NHU NUlQJD QnJRQWLQJ )RNXV Sn NXQGVHUYLFH IUnQ &RQWDFW &HQWHU SnJnU QX 9nUW I|UHWDJ KDU XWYHFNODWV VDNWD PHQ VlNHUW XQGHU GH I|UVWD WLR nUHQ RFK PHU HVNDOHUDQGH XQGHU GH VLVWD IHP VH[ nUHQ 9L RPVlWWHU L nU PLOMRQHU RFK UlNQDU PHG HQ SURFHQWLJ WLOOYl[W 'HQ VWRUD ELWHQ VRP KDU O\IW lU KDQWHULQJHQ DY NXQGVHUYLFHHQKHWHU 9DG VRP KDU GULYLW YnUW I|UHWDJ lU DWW YL KDU Yl[W RUJDQLVNW 9L KDU XWYHFNODWV WLOOVDPPDQV PHG YnUD NXQGHU 9L KDU LQWH MREEDW XWLIUnQ SHUVSHNWLYHW ELGUDJ HOOHU ORNDOLVHULQJ Sn DQGUD RUWHU XWDQ GHW lU NXQGQ\WWDQ VRP VWnWW L IRNXV 9L KDU O\FNDWV YlOGLJW EUD RFK KDU EOLYLW VWRUD 'HQ H[WHUQD ELOGHQ lU HQ KHOW DQQDQ ELOG RFK E\JJHU IUDPI|U DOOW Sn SHUVRQDOHQ KDQWHULQJ DY SHUVRQDO PDQDJHPHQW RFK VOXWOLJHQ Sn HQ YlOGLJW YlOGLJW VWDUN I|UHWDJVNXOWXU %\JJVWHQDUQD L HWW &DOO &HQWHU lU ,QIRUPDWLRQVEHKDQGOLQJ RFK V\VWHP (Q YLNWLJ GHO lU WHNQLNHQ GlU YL RFNVn KDU MREEDW P\FNHW QlUD NXQGHUQD RFK XWYHFNODW P\FNHW VMlOYD 'HW ILQQV IDQWDVWLVND P|MOLJKHWHU L DSSOLNDWLRQHU L GDJ .XQGEHKRYHQ RFK VWUDWHJLHUQD VW\U SHUVRQDOHQ RFK PDQDJHPHQW lU YnUD UHVXUVHU 'H WHNQLVND I|UXWVlWWQLQJDUQD I|U WLOOYl[WHQ lU 'DWDEDVNUDIW WLOO OnJ NRVWQDG .UDIWIXOO RFK ELOOLJ KnUGYDUD 6RILVWLNHUDG PMXNYDUD JHU SUHFLVLRQ RFK IOH[LELOLWHW )|UElWWUDG &DOO &HQWHU WHNQLN &7, GLDOHU ZHE DSSOLNDWLRQHU )|UElWWUDW WHOH QlW .UDIWIXOOD RFK LQWHOOLJHQWD O|VQLQJDU HUEMXGV )UnJRU WLOO 7RPDV 5RJDOLQ )UnJD 6YHQVND 'DJEODGHWV DUWLNHO PHG XSSJLIWHQ DWW KlOIWHQ DY I|UHWDJHQ lU RVHUL|VD 6WlPPHU GHW PHG GLQ ELOG" 6YDU 'HW ILQQV Vn PnQJD I|UHWDJ -|UHWDJHQ 'lU VWlPPHU GHW LQWH DOOV 6MlOYNODUW ILQQV GHW QnJRQ RVHUL|V VRP XQGHU NRQNXUUHQVWU\FNHW WLOOnWHU VLJ NRQVWLJD VDNHU RFK VRP MREEDU YlOGLJW NRUWVLNWLJW 1lU GHW JlOOHU DUEHWVI|UKnOODQGHQ KDU MDJ LQJHQ DQLQJ -|UHUQD L EUDQVFKHQ lU RHUK|UW PnQD RP DWW VH WLOO Vn DWW SHUVRQDOHQ KDU HQ GUlJOLJ WLOOYDUR )UnJD bU GH DUEHWVUlWWVOLJD I|UKnOODQGHQD WLOOIUHGVVWlOODQGH W\FNHU GX" 6YDU 1HM 'HW lU HWW SUREOHP PHG IOH[LELOLWHWHQ KDQWHULQJHQ DY IOH[9L VNXOOH KHOW NODUW |QVND HQ K|JUH IOH[LELOLWHW )UnJD 8SSOHYHU GX DWW GHW UHJLRQDOSROLWLVND VW|GHW KDU PHGI|UW HQ RVXQG NRQNXUUHQV" 6YDU 1lU HWW I|UHWDJ YlOMHU HWDEOHULQJ WURU MDJ LQWH GHW DYJ|UDQGH lU YLOND VW|G PDQ InU -|WW Sn GHW V\QVlWWHW PHQ GHW lU LQWH DYJ|UDQGH L GH IOHVWD IDOOHQ 'HW NDQ MDJ LQWH WlQND PLJ 'HW lU HWW YlOGLJW NRUWVLNWLJW V\QVlWW )UnJD 6HU GX QnJUD KLQGHU I|U HU XWYHFNOLQJ KXU QL VND NXQQD XWYHFNOD I|UHWDJHW RFK EUDQVFKHQ" )LQQV QnJRW VRP VND WDV ERUW HOOHU OlJJDV WLOO" 6YDU 'HW ILQQV SRWHQWLHOOD KLQGHU L IOH[LELOLWHWHQ DUEHWVODJVWLIWQLQJHQ VNXOOH HYHQWXHOOW EHK|YD lQGUDV 0HQ YL KDU O\FNDWV YlOGLJW EUD lQGn 0HQ GHW ILQQV HWW VWRUW SRWHQWLHOOW KLQGHU L ODJVWLIWQLQJHQ VRP 3KLOLS &RKHQ YDU LQQH Sn 'HQ VNXOOH MX I|U YnU GHO P|MOLJJ|UD VWRUD EHVSDULQJDU RP YL NXQGH KDQWHUD DUEHWVWLG RFK DQVWlOOQLQJDU PHU IOH[LEHOW )UnJD 6NXOOH SDUWHUQD NXQQD J|UD QnJRW VMlOYD WURU GX" 6YDU 'HW YDULHUDU QRJ JDQVND P\FNHW 3n ORNDO QLYn EHURU GHW L K|J JUDG Sn SHUVRQDOHQ *HGGHKROP &DOO &HQWHU 7RUEM|UQ 1RUpH EHUlWWDU DWW *HGGHKROP VWDUWDGHV DY HQ SULYDWSHUVRQ PHQ lU QXPHUD XSSN|SW RFK lJV DY GHQ )LQVND WHOHNRQFHUQHQ 6RQHUD )|UHWDJHW DUEHWDU HQEDUW PHG LQNRPPDQGH WHOHIRQVDPWDO RFK NXQGHUQD lU EHQVLQERODJ SRVWRUGHUI|UHWDJ VDPW WLGQLQJDU RFK WLGVNULIWHU *HGGHKROP ILQQV L 9lVWHUnV (NVM| RFK 6WRFNKROP 0DQ KDGH WLGLJDUH HQ HQKHW L 7lUQDE\ VRP VnOGH Gn PDQ IDQQ GHW RO|QVDPW DWW KD HQ Vn OLWHQ HQKHW Sn Vn OnQJW DYVWnQG IUnQ GHQ |YULJD YHUNVDPKHWHQ 1RUpH VHU HQ ULVN DWW GHW UHJLRQDOSROLWLVND VW|GHW OHGHU WLOO RVXQGD HWDEOHULQJDU 1RUpH WURU DWW XWYHFNOLQJHQ JnU IUnQ &DOO &HQWHU WLOO &RQWDNW &HQWHU RFK &XVWRPHU 5HODWLRQVKLS 0DQDJHPHQW &DOO &HQWHUV WDU KDQG RP ROLND W\DYODVWDU NOLHQWRUJDQLVDWLRQHQ RFK HUEMXGHU HQ PHU SURIHVVLRQHOO NRQWDNW I|U NXQGHUQD PHG K|JUH VHUYLFHQLYn -|UV|ND SUHVHQWHUD *HGGHKROP &DOO &HQWHU RFK YnU YHUNVDPKHW -*HGGHKROP VRP 9' I|U GU\JW HWW nU VHGDQ , RFK PHG GHW lU MDJ JDQVND Q\ LQRP &DOO &HQWHU EUDQVFKHQ --lU L HQ RHUK|UW VSlQQDQGH EUDQVFK RFK GHW KlQGHU YlOGLJW P\FNHW -\FNHU DWW GHW lU HWW YlOGLJW SRVLWLY LQLWLDWLY VRP ,7 NRPPLVVLRQHQ J|U JHQRP DWW KnOOD GHQQD KHDULQJ RFK VWlOOD IUnJDQ YDG YL NDQ J|UD I|U DWW XWYHFNOD EUDQVFKHQ lQQX PHU 9L JUXQGDGHV Sn *HGGHKROPV JRGV DY 1RSSH /HZHQKDXSW +DQ LQVnJ DWW GHW KlU PHG DWW YDUD NRQWDNWEDU YDU HQ JDQVND EUD DIIlUVLGp +DQ KDGH PlUNW DWW GHW YDU P\FNHW OlWWDUH DWW In NRQWDNW PHG I|UHWDJ L EO D 86$ +lU L 6YHULJH IDQQV L VWRUW VHWW EDUD WHOHYHUNHW VRP KDGH QnJRW VRP NDOODGHV I|U WHOHIRQYDNWHQ 'n E|UMDGH KDQ PHG HQ HQNHO WHOHIRQSDVVQLQJVWMlQVW 8QGHU nUHQV ORSS KDU GHW KlU XWYHFNODWV PHU RFK PHU , GDJ MREEDU YL IUlPVW PHG NXQGWMlQVWlUHQGHQ RFK IXQNWLRQHU 9nU WHOHIRQSDVVQLQJVYHUNVDPKHW lU HQ PLQGUH GHO DY YHUNVDPKHWHQ VnOGH 1RSSH KXYXGGHOHQ DY I|UHWDJHW WLOO 6RQHUD VRP lU HWW E|UVQRWHUDW I|UHWDJ L )LQODQG 6RQHUD KDU HWW E|UVYlUGH Sn JnQJHU 9ROYRV 'H lU PRWVYDULJKHWHQ WLOO 7HOLD L )LQODQG *HGGHKROP ILQQV L GDJ L 9lVWHUnV PHQ LQWH Sn VMlOYD JRGVHW OlQJUH $YDQFHUDG NXQGWMlQVW RFK VXSSRUW &50 NRQFHSW RFK NXQGYnUG 7HOHIRQSDVVQLQJ(QNHO WHOHVHUYLFH$YDQFHUDG Yl[HO Sn GLVWDQV 9nUD WMlQVWHU lU NXQGWMlQVW VXSSRUW 9L MREEDU DOOWVn VRP HWW RXWVRUFLQJI|UHWDJ L NXQGHUQDV QDPQ RFK YL MREEDU HQEDUW PHG LQNRPPDQGH I|UIUnJQLQJDU L KXYXGVDN YLD WHOHIRQHQ 9L HUEMXGHU RFNVn GHW VRP MDJ NDOODU HWW &50 NRQFHSW GYV µ&XVWRPHU 5HODWLRQVKLS 0DQDJHPHQWµ 'HW KDQGODU RP KXU PDQ LQWHJUHUDU NXQGUHODWLRQHU IUDPI|U DOOW |YHU ,QWHUQHW RFK KXU PDQ KDQWHUDU NXQGUHODWLRQHU RFK NXQGRUGHU 'HW lU HWW RPUnGH VRP YL PlUNHU Yl[HU PHU RFK PHU 9L KDU XSSGUDJ I|U HOHNWURQLVND KDQGHOVSODWVHU DWW JH VXSSRUW RFK JXLGD EHV|NDUHQ YLGDUH IUnQ ,QWHUQHW QlU GH VND KDQGOD QnJRQWLQJ .DPSDQMHU HOOHU LQNRPPDQGH WHOHPDUNHWLQJ KDU QlPQWV WLGLJDUH 9L MREEDU PHG MRXUVHUYLFH 9nU WHOHIRQSDVVQLQJ ILQQV IRUWIDUDQGH NYDU L IRUP DY HQ HQNHO WHOHIRQSDVVQLQJ Gn PDQ EDUD EHK|YHU YLGDUHNRSSOD VLQ WHOHIRQ HOOHU JHQRP DWW YL MREEDU LQWHJUHUDW PHG HQ NXQGV Yl[HO 9L KDU lYHQ YLVVD 'H EUDQVFKHU VRP YL MREEDU PHG lU KXYXGVDNOLJHQ EHQVLQERODJ SRVWRUGHU RFK HWW DQWDO WLGQLQJDU DOOWLIUnQ GDJVWLGQLQJDU WLOO YHFNR RFK PnQDGVWLGQLQJDU 9L MREEDU VRP NXQGWMlQVW nW GH KlU WLGQLQJDUQD (OHNWURQLVN KDQGHO NRPPHU PHU RFK PHU OLNVRP 79 NDQDOHU RFK ,7 I|UHWDJ 7XULVP lU HWW RPUnGH VRP RFNVn lU YlOGLJW LQWUHVVDQW GlU YL KDU KDIW VDPDUEHWH PHG 6YHULJHV WXULVWUnG 0HQ Sn JUXQG DY ELGUDJHQ ILFN LQWH YL XSSGUDJHW 6WDWHQ JDY EDUD SHQJDU WLOO NRQFHSWHW VRP YL KDGH WHVWDW I|UUD VRPPDUHQ RP &DOO &HQWUHW OnJ L 1RUUODQG 9L KDGH LQJHW &DOO &HQWHU L 1RUUODQG Vn YL ILFN WDFND QHM 6n NDQ GHW Jn 2UJDQLVDWLRQHU RFK NRPPXQHU MREED YL RFNVn PHG , (NVM| KDU YL HWW VDPDUEHWH PHG (NVM| NRPPXQ 'HQ lU GHQ I|UVWD NRPPXQHQ L ODQGHW VRP KDU WLPPDUVVHUYLFH WLOO VLQD PHGERUJDUH 0DQ NDQ ULQJD YLONHQ WLG Sn G\JQHW VRP KHOVW RFK IUnJD RP GDJLVSODWVHU RFK OLNQDQGH 0nQJD ULQJHU LQ Sn PRUJQDUQD YLG I\UD IHP VH[WLGHQ RFK DQPlOHU VLQD EDUQ VRP VMXND WLOO GDJLV ,QJD SUREOHP 0HULGLDQ Yl[HO 5HGXQGDQW QlW PHOODQ HQKHWHUQD 6W|GV\VWHP lUHQGHKDQWHULQJ EHPDQQLQJ VWDWLVWLN $FFHVV WLOO NXQGHUV VW|GV\VWHP /DQ /DQ NRSSOLQJ :HE JUlQVVQLWW 9nU WHNQLVN SODWWIRUP lU HQ Yl[HO 'HQ EHVWnU DY HQ 0HULGLDQ LQWH (ULFVVRQ W\YlUU 'HQ KDU $&' RFK VnGDQD VDNHU 9L KDU HWW QlW PHOODQ YnUD HQKHWHU PHG VNLOGD I\VLVND YlJDU LIDOO QnJRQ VNXOOH Jn QHU 'HW lU YLNWLJW DWW PDQ KDU HQ K|J WLOOJlQJOLJKHW 9L KDU RFNVn ROLND IRUPHU DY VW|GV\VWHP HOOHU PDQDJHPHQWV\VWHP GlU YL NDQ I|OMD lUHQGHQ EHPDQQLQJ VWDWLVWLN DOOW VRP lU EHKMlOSOLJW lYHQ L IRUP DY &7, -|U &7, PHQ GHW KlU PHG µVFUHHQ SRS XSVµ RFK DQQDW VSlQQDQGH KDU YL , KXYXGVDN MREEDU YL PHG YnUD NXQGHUV VW|GV\VWHP )DVW I|UELQGHOVHU WLOO NXQG DQYlQGHU YL I|U DWW VlNHUVWlOOD LQIRUPDWLRQHQ 9L DQYlQGHU lYHQ HWW ZHEJUlQVVQLWW 0HQ GHW ILQQV W\YlUU VlNHUKHWVULVNHU PHG GHWWD $YJ|UDQGH I|U IUDPJnQJ Sn PDUNQDGHQ -lU YDG MDJ WURU lU DYJ|UDQGH I|U IUDPJnQJ Sn PDUNQDGHQ -6MlOYNODUW EOLU GHW WLOOYl[W 'n lU GHW YLNWLJW DWW YL NDQ NRQWUROOHUD O|QVDPKHWHQ -'HW ILQQV MX YlOGLJW P\FNHW WHNQLN VRP P|MOLJJ|U EnGH HIIHNWLYLVHULQJ RFK OLNQDQGH 0HQ L KXYXGVDN lU HWW &DOO &HQWHU RFK MDJ NRPPHU DWW NRPPD WLOO HWW &RQWDFW &HQWHU EHURHQGH DY SHUVRQDOHQ 'HW lU YLNWLJW DWW XSSUlWWKnOOD K|J NRPSHWHQV Sn SHUVRQDOHQ RFK DWW KnOOD Vn OnJ SHUVRQDORPVlWWQLQJ VRP P|MOLJW 9L K|UGH MX DWW SHUVRQDORPVlWWQLQJHQ NRVWDU YlOGLJW P\FNHW $WW XWYHFNOD RFK ELEHKnOOD SHUVRQDOHQ WURU MDJ lU P\FNHW YLNWLJW 6MlOYNODUW VND PDQ KlQJD PHG L GHQ WHNQLVND XWYHFNOLQJHQ PHQ GHW lU SHUVRQDOHQ VRP lU YLNWLJDVW -|NDU MX PHU DYDQFHUDGH IUnJHVWlOOQLQJDU VRP YL InU 8WYHFNOLQJHQ GH QlUPDVWH nUHQ &DOO &HQWHU WLOO &RQWDFW &HQWHU &50 &XVWRPHU UHODWLRQVKLS 0DQDJHPHQW 2XWVRXUFLQJ &R VRXUFLQJ 8WVODJQLQJ DY PLQGUH RFK ELGUDJVEHURHQGH &DOO &HQWHUV 8WYHFNOLQJHQ GH QlUPVWD nUHQ" 9L JnU IUnQ &DOO &HQWHUV WLOO &RQWDFW &HQWHUV 7LGLJDUH QlU YL E|UMDGH PHG &DOO &HQWHUV KDGH PDQ L VWRUW VHWW HQ NRQWDNWYlJ WHOHIRQHQ RFK NXQGUHODWLRQHQ YDU JDQVND VWDELO 'HQ YDU LQWH Vn LQGLYLGXHOO -X PHU WHNQLNHQ XWYHFNODV MX PHU |NDU P|MOLJKHWHUQD WLOO NRQWDNWHU VDPWLGLJW VRP GH LQGLYLGXHOOD NXQGUHODWLRQHUQD I|UILQDV 0\FNHW lU EDVHUDW Sn WHNQLNHQ PHQ I|U DWW In GHW GlU OLOOD VLVWD L NXQGUHODWLRQHQ NUlYV JRG NXQGVHUYLFH 'HW JnU EDUD DWW J|UD HQ MlPI|UHOVH PHOODQ DOOD HOHNWURQLVND KDQGHOVSODWVHU VRP |SSQDU XSS -|UD GHW PHG DWW PDQ JnU Sn %LEOLRWHNVJDWDQ KlU L 6WRFNKROP 'lU |SSQDU MlWWHILQD EXWLNHU 'H lU IODVKLJD RFK KDU GHQ VQ\JJDVWH GHVLJQHQ 'H lU |SSQD G\JQHW UXQW PHQ GHW lU LQJHQ H[SHGLW VRP PDQ NDQ IUnJD 6ND PDQ VNLOMD VLJ IUnQ PlQJGHQ NUlYV DWW QnJRQ WDU KDQG RP GHODU DY YHUNVDPKHWHQ I|U DWW In LQGLYLGXHOOD NXQGUHODWLRQHU 'HW lU PRW GHQ XWYHFNOLQJHQ YL JnU &DOO &HQWHU &RQWDFW &HQWHU NXQGYnUG NXQGUHODWLRQHU &50 'HW lU XWYHFNOLQJHQ VRP MDJ VHU L IUDPWLGHQ 2XWVRUFLQJ HOOHU &R VRXUFLQJ GlU PDQ WLOOVDPPDQV PHG HWW DQQDW I|UHWDJ IRUWVlWWD DWW XWYHFNODV -lU P\FNHW LQWUHVVHUDGH DY GHQQD YHUNVDPKHW )|U HWW GU\JW nU VHGDQ EHO\VWH HQ DY ,7 NRPPLVVLRQHQV KHDULQJDU PHGERUJDUVHUYLFH L RIIHQWOLJ VHNWRU GHQ K|OOV L (NVM| 0HGERUJDUVHUYLFH WURU MDJ NRPPHU PHQ GHW lU OLWH |JDUH 'lUHPRW WURU MDJ DWW GHW ILQQV HQ ULVN DWW YL NRPPHU DWW In VH XWVODJQLQJ DY PLQGUH ELGUDJVEHURHQGH &DOO &HQWHUV IUDP|YHU 'HW lU OLWH DY HQ .ORQG\NH PDUNQDG )|UU HOOHU VHQDUH NRPPHU QnJUD DWW VOnV XW 6lQN DUEHWVJLYDUDYJLIWHUQD SHUVRQDOHQ lU VW|UVWD NRVWQDGHQ 5HJLRQDOD ELGUDJ VQHGYULGHU NRQNXUUHQVHQ RFK |NDU ULVNHUQD I|U XWVODJQLQJ )OH[LEODUH /|NDW EHKRY DY WLOOIlOOLJW RFK H[WUD DQVWlOOGD SURMHNWDQVWlOOQLQJ -lU HQ DY GH VWLPXODQVnWJlUGHU VRP EHK|YV 3HUVRQDOHQ lU GHQ VW|UVWD NRVWQDGHQ -|NQLQJDUQD DWW DY NRVWQDGHUQD I|U &DOO &HQWHU lU DJHQWHU SOXV \WWHUOLJDUH I|U DQQDQ SHUVRQDO 'HW LQQHElU DWW DY NRVWQDGHQ lU SHUVRQDOHQ 'lUI|U E|U PDQ VlQND NRVWQDGHQ JHQRP DWW W H[ VlQND DUEHWVDYJLIWHUQD I|U DWW VWLPXOHUD EUDQVFKHQV WLOOYl[W -|NDU ULVNHQ I|U XWVODJQLQJ 6DPWLGLJW VRP MDJ VHU EHKRY DY DWW VH |YHU DUEHWVPDUNQDGVODJDUQD 9L KDU HWW EHKRY DY WLOOIlOOLJ RFK H[WUDQVWlOOG SHUVRQDO )UnJRU WLOO 7RUEM|UQ 1RUpH )UnJD 1L KDGH MX HWW NRQWRU L 7lUQDE\ VRP HWDEOHUDGHV PHG UHJLRQDOSROLWLVNW VW|G bU GHW XWVODJHW" 6YDU 1HM YL VnOGH GHW L YnUDV 3HQJDUQD VRP IDQQV NYDU DY GHW ELGUDJHW KDU YL EHWDODW WLOOEDND 6NlOHW WLOO DWW YL OlPQDGH 7lUQDE\ YDU DWW GHW KHOW HQNHOW NRVWDGH I|U P\FNHW DWW GULYD HQ Vn SDVV OLWHQ HQKHW Vn OnQJW ERUW )|UELQGHOVHNRVWQDGHQ IUnQ W H[ 9lVWHUnV RFK (NVM| XSS WLOO 7lUQDE\ YDU WUH JnQJHU Vn K|JD VRP I|UELQGHOVHQ YDU PHOODQ (NVM| RFK 9lVWHUnV 'HW EOHY HQ PHUNRVWQDG DWW KD NYDU GHW 0HQ YL YDU GlU L VH[ nU )UnJD 2P YL InU HQ EUHGEDQGVXWYHFNOLQJ L 6YHULJH KDGH YL LQWH KDIW GHW SUREOHPHW )UnJD 9DG DYJ|U RP HWW I|UHWDJ HOOHU P\QGLJKHWHU IO\WWDU XW UHVSHNWLYH KDU NYDU VLQD DUEHWVXSSJLIWHU" )|UVlNULQJVNDVVDQ KDU MX &DOO &HQWHU HOOHU NXQGWMlQVW 'H MREEDU Sn VDPPD VlWW 9DG lU GHW VRP DYJ|U RP PDQ XWORNDOLVHUDU HWW &DOO &HQWHU I|UHWDJ HOOHU LQWH" 6YDU 'HW NDQ YL SUDWD OlQJH RP 9L KDU MX HWW QlUD VDPDUEHWH PHG (NVM| NRPPXQ 'HW lU LQWH EDUD Vn DWW GH EHVWlPPHU DWW GH OlJJHU XW HQ GHO DY YHUNVDPKHWHQ Sn *HGGHKROP XWDQ GHW NUlYV Vn P\FNHW PHU 'HW lU HWW DQQDW VlWW DWW WlQND .RPPXQHQ EHVWnU DY HWW DQWDO I|UYDOWQLQJDU 5LQJHU GX WLOO DY DOOD NRPPXQHU L GDJ RFK IUnJDU RP ERVWDGVELGUDJ W H[ EOLU GX NRSSODG WLOO GHQ I|UYDOWQLQJ VRP MREEDU PHG ERVWDGVELGUDJ 'lU VLWWHU HQ KDQGOlJJDUH VRP I|U DWW NXQQD J|UD VLWW HJHQWOLJD MREE KDU HQ WHOHIRQWLG PHOODQ RFK 'n NDQ GX In VYDU Sn IUnJDQ +lU PnVWH PDQ L VWlOOHW RPRUJDQLVHUD lYHQ LQRP NRPPXQHQ I|U DWW In HQ HIIHNWLYLVHULQJ RFK IULJ|UD UHVXUVHUQD IUnQ KDQGOlJJDUQD Vn DWW GH NDQ J|UD GHW VRP GH NDQVNH lU XWELOGDGH I|U 0HQ GHW NUlYV DWW GH OlPQDU LIUnQ VLJ LQIRUPDWLRQHQ 'HW NUlYV YlOGLJW P\FNHW LQWHUQW DUEHWH LQRP YHUNVDPKHWHQ I|U DWW GHW VND O\FNDV )UnJD 6HU GX DWW GHW L IUDPWLGHQ ILQQV QnJRW VODJV YLUWXHOOW RIIHQWOLJW WRUJ VRP VN|WV DY HWW &DOO &HQWHU I|UHWDJ GLW PDQ NDQ Jn RFK In VYDU RP EnGH VMXNI|UVlNULQJ RFK ERVWDGVELGUDJHW RFK DOOW DQQDW" 6YDU -9L lU HQ ELW Sn YlJ 'LJL'RF +nNDQ (OLDVVRQ EHUlWWDU DWW &DOO &HQWHU EDUD lU HQ GHO DY 'LJL'RFV YHUNVDPKHW VRP RFNVn RPIDWWDU V\VWHP I|U DGPLQLVWUDWLYD IO|GHQ DGPLQLVWUDWLY VHUYLFH GULIW RFK NRPPXQLNDWLRQ DY VHUYUDU VDPW NRPPXQLNDWLRQVO|VQLQJDU (OLDVVRQ KlYGDU DWW 'LJL'RF lU HQVDPPD L 6YHULJH RP DWW E\JJD LKRS lUHQGHKDQWHULQJVV\VWHP PHG &DOO &HQWHUV 0nOHW lU DWW E\JJD HQ YLUWXHOO RUJDQLVDWLRQ GlU SHUVRQDOHQV NRPSHWHQV NDQ DQYlQGDV RDYVHWW YDU GH VLWWHU (Q YLNWLJ I|UXWVlWWQLQJ I|U DWW O\FNDV PHG GHWWD lU XWE\JJQDG DY EUHGEDQGVQlWHW -DJ lU JUXQGDUH RFK KXYXGlJDUH WLOO 'LJL'RF HQ NRQFHUQ VRP KDU IXQQLWV L WLR nU --lPWODQG gVWHUVXQG 1XPHUD ILQQV YL YlO VSULGGD L -lPWODQG RFK L 1RUUERWWHQ RFK 6WRFNKROP 9nU DIIlUVLGp lU DWW HIIHNWLYLVHUD NXQGHUQDV YHUNVDPKHW JHQRP I|UNRUWDGH OHGWLGHU L GHQ DGPLQLVWUDWLYD KDQGOlJJQLQJHQ VDPW I|UElWWUD GHUDV NXQGVHUYLFH PHG KMlOS DY ,7 &DOO &HQWHU ,QIRV\VWHP 'HW J|U DWW YL MREEDU LQRP I\UD DIIlUVRPUnGHQ &DOO &HQWHU LQIRV\VWHP DGPLQLVWUDWLY VHUYLFH RFK NRPPXQLNDWLRQ - ,QIRV\VWHP LQQHElU DWW YL VHGDQ HWW DQWDO nU WLOOEDND KDU V\VWHP I|U DGPLQLVWUDWLYD IO|GHQ I|U DWW \FND LKRS KDQGOlJJQLQJVWLGHQ 1nJUD H[HPSHO GlU lU DWW YL KDU KDQG RP IDNWXUDIO|GHQ I|U VWRUD I|UHWDJ 9L E\JJHU DOOWVn V\VWHPHQ PHG DQYlQGDUH JHQRP DWW YL DWWHVWHUDU GLJLWDOW 9L lU GHW SDSSHUVO|VD $GPLQLVWUDWLY VHUYLFH YL WDU KDQG RP IDNWXUHULQJ RUGHUKDQWHULQJ HWF 'ULIW RFK NRPPXQLNDWLRQ WDU YL KDQG RP RFK VN|WHU lYHQ GULIWHQ Sn VHUYUDU 9L JHU RFNVn NRQVXOWKMlOS PHG NRPPXQLNDWLRQVO|VQLQJDU &DOO &HQWHU E|UMDGH YL PHG I|U GU\JW WYn nU VHGDQ 'HW lU HQ JDQVND VWRU GHO L YnU YHUNVDPKHW 'HQ KDQGODU PHVW RP WHNQLVN VXSSRUW DOOWVn LQNRPPDQGH VDPWDO RFK NXQGVHUYLFH L VDPEDQG PHG GHW 9L KDU RFNVn VHGDQ HWW nU WLOOEDND VWDUWDW XSS L 5|\UYLN L 1RUJH , 6WHLQNMHU VWDUWDGH YL I|U HQ PnQDG VHGDQ RFK GlU E\JJHU YL XSS HQ NRQVXOWYHUNVDPKHW 0HQ GHW NRPPHU VDQQROLNW DWW &HQWHU YHUNVDPKHW RFNVn , 6WRFNKROP RFK 2VOR KDU YL I|UVlOMQLQJ SURMHNWOHGQLQJ RFK WHNQLVN NRPSHWHQV 9L YHW DWW NXQGHUQD ILQQV L 6WRFNKROP RFK 2VOR L KXYXGVDN 0HUSDUWHQ DY GH DQVWlOOGD ILQQV L +DFNnV V|GHU RP gVWHUVXQG , gVWHUVXQG KDU YL RFNVn HWW WUHWWLRWDO DQVWlOOGD VRP MREEDU PHG V\VWHPXWYHFNOLQJ OLNVRP L *lGGHGH Sn JUlQVHQ XSS PRW 1RUJH 6HGDQ KDU YL HWW &DOO &HQWHU L +DSDUDQGD DY EO D GHW VNlOHW DWW YL YLOO KD EnGH VYHQVND RFK ILQVND DY YnUD DQVWlOOGD SUDWDU ILQVND $QOHGQLQJHQ lU DWW YL YLOO LQ Sn PDUNQDGHQ L )LQODQG 'HW lU RFNVn P|MOLJW DWW YL E\JJHU XSS YHUNVDPKHW L )LQODQG 9nUW PnO lU DWW KD PLQGUH &DOO &HQWHU HQKHWHU L GH I\UD QRUGLVND OlQGHUQD LQRP nU , GDJ lU YL DQVWlOOGD 9L KDGH HQ JDQVND KlIWLJ XWYHFNOLQJ 0\FNHW DY GHW EHURU Sn &DOO &HQWUHQ 2PVlWWQLQJHQ lU Sn PLOMRQHU RFK VROLGLWLWHWHQ lU EUD 7DQNDUQD L YnU YHUNVDPKHW lU DWW YL YLOO E\JJD HQ RUJDQLVDWLRQ GlU YL DQYlQGHU YnUD DQVWlOOGDV NRPSHWHQV Sn ElVWD VlWW RDYVHWW YDU GH VLWWHU 9L XWYHFNODU RFNVn YnUD KDQWHULQJVV\VWHP Vn DWW DOOW EOLU JMRUW LQRP HQ YLVV WLG DWW DOOW EOLU GRNXPHQWHUDW DXWRPDWLVNW RVY , RFK PHG GHW ILQQV DOOWVn P|MOLJKHW DWW NQ\WD LKRS DOO SHUVRQDO 'lUI|U KDU YL LQYHVWHUDW L PHJDELWV DWP L 6YHULJH 'HW KDU YL JMRUW I|U DWW YL YLOO YDUD IOH[LEOD DWW YL VND NXQQD WD VWRUD EHVWlOOQLQJDU IUnQ YnUD NXQGHU GHW lU GH VRP EHVWlPPHU YDG YL VND J|UD RFK KXU P\FNHW 9L KDU LQYHVWHUDW L HWW Yl[HOV\VWHP VRP VHU OLNDGDQW XW L 1RUJH RFK 6YHULJH PHG FHQWUDORUW L +DFNnV 9LGHRNRQIHUHQVHU RFK PXOWLPHGLDO VDPYHUNDQ L I|UHWDJHW KDU MDJ VHWW VRP MlWWHYLNWLJW I|U NXQQD DUEHWD HIIHNWLYW 9L NDQ VlWWD XSS VPn SURMHNW lYHQ PHG NXQGHUQD XWDQ DWW UHVD +DSDUDQGD RFK 6WRFNKROP HOOHU 2VOR RFK gVWHUVXQG 'HW WDU HQ HYLQQHUOLJ WLG RFK NRVWDU HQ I|UP|JHQKHW 9LNWLJD IDNWRUHU I|U XWYHFNOLQJHQ 0|MOLJKHW NXQVNDS DWW NRPPD XW Sn QlWWH ,QWHUQHW ,3 PXOWLPHGLD )OH[LEOD DQVWlOOQLQJVYLOONRU 9DG lU YLNWLJW I|U DWW VWLPXOHUD XWYHFNOLQJHQ XU YnUW SHUVSHNWLY" 9L PnVWH XWYHFNOD QlW RFK NRPPXQLNDWLRQVGHODUQD L ROLND GHODU DY ODQGHW 9L W\FNHU DWW GHW lU DWW YL PnVWH EHWDOD WYn PLOMRQHU H[WUD YDUMH nU I|U DWW NXQQD N|UD GHW KlU VWRUD QlWHW RP YL VND E\JJD XSS HQ YHUNVDPKHW L +DSDUDQGD -|QN|SLQJ HOOHU L 5RQQHE\ 9DG JlOOHU EUHGEDQG lU GHW EDUD VWRUVWlGHUQD VRP JlOOHU 7HOLD RFK 7HOHQRUG EU\U VLJ HJHQWOLJHQ LQWH RP KXU GHW NRPPHU DWW Jn I|U GH VRP MREEDU Sn DQGUD VWlOOHQ 'H LQVWDOOHUDU EDUD EUHGEDQG GlU GHW ILQQV PnQJD NXQGHU 'n InU YL ODVVHW 'HW lU YLNWLJW DWW YL IRUWVlWWHU DWW YDUD MlWWHGXNWLJD Sn DWW DQYlQGD 3& RFK ,QWHUQHW L 6YHULJH GHW NRPPHU DWW J|UD RVV IUDPJnQJVULND 9L VRP OHYHUDQW|UHU NRPPHU DWW Yl[D PHG YnUD NXQGHU JHQRP DWW DQYlQGD ,7 ,QWHUQHW ,3 RFK N|UD ,7 WHOHIRQL 9L W\FNHU RFNVn DWW PDQ PnVWH VH |YHU DQVWlOOQLQJVYLOONRUHQ $QQDUV WURU MDJ DWW YL NRPPHU DWW In GHW P\FNHW VYnUW 'HW EOLU OLWH HQ FKLPlU PHG IDVW DQVWlOOQLQJ +DU YL LQJHQWLQJ DWW J|UD KDU YL LQJD O|QHU HOOHU SHQJDU 'HW lU YLNWLJW I|U RVV DWW EHKnOOD UlWW SHUVRQDO 9L VND NXQQD HUEMXGD NDUULlUP|MOLJKHWHU RFK RPYl[OLQJ L DUEHWHW 9L KDU I\UD DIIlUVRPUnGHQ -REEDU YL YlO NDQ YL DQYlQGD GHQ KlU +DSDUDQGD NLOOHQ HOOHU WMHMHQ VRP YLOO I|UNRYUD VLJ HOOHU WD HWW W\QJUH DQVYDU LQRP WHNQLNVLGDQ DWW MREED WLOOVDPPDQV PHG 2VOR IRONHW HOOHU VWRFNKROPDUQD 'lUPHG VND YL NXQQD DWWUDKHUD MREED L &DOO &HQWHU PHQ NDQVNH EDUD YLOO MREED L HWW nU HOOHU WYn 9L KDU UlWW P\FNHW U|UHOVH L I|UHWDJHW LQWHUQW )UnJRU WLOO +nNDQ (OLDVVRQ )UnJD -'n YDU QL SHUVRQHU 1X KDU QL VMXGXEEODW HU VHGDQ GHVV 'HW VND VH YDU QL EHILQQHU HU RP QnJUD nU -\FNHU DWW GHW lU HWW W\GOLJW XWWU\FN I|U GHQ YLVLRQ VRP MDJ KDU WDODW RP OLWH JUDQQ WLGLJDUH PHG EUHGEDQG WLOO 6YHULJH HWW ILEHUQlW |YHU KHOD ODQGHW .DQ GX XWYHFNOD GHW KlU OLWH PHU 9DG VNXOOH GHW LQQHElUD I|U GLJ RP YL ILFN EUHGEDQGVI|UELQGHOVHU WLOO VDPPD NRVWQDG REHURHQGH DY SODWV I|U YHUNVDPKHWHQ L 6YHULJH" 6YDU 'HW VNXOOH LQQHElUD DWW YL EOHY PHU IOH[LEOD PRW PDUNQDGHQ 'HW lU KHOW NODUW )UnJD 'HW VNXOOH EHW\GD P\FNHW PHQDU GX" 6YDU -D MDJ VHU IUDP PRW QlU YL InU VDPPD EHWHHQGH IUnQ IOHU I|UHWDJ DWW PDQ VOLSSHU DWW nND XWDQ LVWlOOHW VDPODU LKRS VLJ VQDEEW I|U HWW OLWHW HOOHU VW|UUH SURMHNW 0DQ NDQ O|VD lU