 Good evening. I want to start by asking you one question. Would you like to know a way for your company to save a hundred million dollars a year? Right? Today I'd like to introduce you to a new word that can help your company to save a hundred million dollars a year. That is the word co-operation, which is a combination of co-operation and competition. A few months ago, I read a report published by PWC saying that the port of Auckland has a transportation hub with a capacity utilization rate of only 20%. And the port of Toronto has a similar transportation hub next to it with a capacity utilization rate of only 55%. Therefore, we have the two hubs that are very close to each other and have a low utilization rate. My question is, why don't they just build only one transportation hub? Lots of money can be saved. Some people will say no, they can't because they are competitors. This does not sound right to me. For example, Apple and Samsung, they are competitors in the smartphone market, but Apple still buys LCD screen from Samsung. They still work together. It is called the co-operation strategy, which means that two companies, they can cooperate and compete with one another at the same time. My research objective is to find out potential areas for the two posts to work together to reduce transport costs. For example, they can share the transportation hub to prevent duplicate investment, or they can cooperate on empty container movements to reduce cost and emissions. To achieve my research objective, I will first interview Key Manager in the two posts and then build a mathematical model to quantify the benefits of co-operation. Then why is this research important and related to you? Posts are important links in the transport system. Transport costs account for 6% of New Zealand's GDP, and currently our transport costs are the highest among 21 OECD countries. By helping the two posts work together, we can reduce transport costs by 1% only. How much money can be saved? A hundred million dollars a year. We could use that money to build another Auckland hospital or buy a hundred houses. I believe my thesis can show how to save a hundred million dollars by moving from competition to co-operation. Thank you.