Position Analysis 22 4.3 Loans and Deposits 24 4.4 Treasury Operations 28 4.5 Operating Performances of K Companies and Muang Thai Life Assurance PCL 29 4.6 Capital Requirements 30 4.7 Credit Ratings 31 5

. Operating Performance and Financial Position Analysis 38 4.1 Operating Performance 38 4.2 Financial Position Analysis 43 4.3 Loans and Deposits 46 4.4 Treasury Operations 49 4.5 Operating Performances of K