called “The Group”) would like to submit Management’s discussion and analysis for the Quarter ’ with the summary as follows: - 1. Nature of operations of the Group The Group has principally engaged in

engaged in distribution of product and equipment, design, assembly and installation, and maintenance service of pure water treatment system; including operate clinical business which Hemodialysis services

) The confidence interval; (b) The holding period of the mutual fund’s assets. In case of relative VaR approach, the benchmark employed and the suitability thereof shall be indicated. (2) The expected

21.34 percent are finished products, 22.32 percent are work in process and 38.20 percent are raw materials. The Corporate Group conducts inventory inspection every month and has employed accounting policy

progress and 48.48 percent are raw materials. The Corporate Group conducts inventory inspection every month and has employed accounting policy for setting provision for deteriorated inventory based on

finished products, 24.01 percent are work in progress and 34.11 percent are raw materials. The Corporate Group conducts inventory inspection every month and has employed accounting policy for setting

by the Office under the first paragraph, the approval under Clause 2/1 shall be deemed terminated. Clause 12. Repealed . Clause 13. In the case where an investment advisory agent is employed by more

percent are work in progress and 46.14 percent are raw materials. The Corporate Group conducts inventory inspection every month and has employed accounting policy for setting provision for deteriorated

percent are finished products, 24.64 percent are work in progress and 30.69 percent are raw materials. The Corporate Group conducts inventory inspection every month and has employed accounting policy for

and has employed accounting policy for setting provision for deteriorated inventory based on product life which is based on the generally accepted accounting standards. - 9 - (4) Liquidity and Capital