Accounting Guideline for Investment Management Business issued by the association with the approval of the SEC Office. In this regard, such financial statements shall be audited and given an opinion by an

pension funds, customers of similar investment nature. Clause 17. The management company shall prepare the financial statements of each mutual fund in conformity to the accounting standards prescribed under

conformity to the accounting standards 2 Repealed for amendment by the Notification of the Securities and Exchange Commission No. KorNor. 14/2548, Re: Rules, Conditions and Procedures for Establishment and

to the accounting standards 2 Repealed for amendment by the Notification of the Securities and Exchange Commission No. KorNor. 14/2548, Re: Rules, Conditions and Procedures for Establishment and

business according to the accounting standards under WHA level. However, the genuine gross margin in were at 53.0% and 51.1%, respectively. The decrease in genuine gross margin, compared to the same period

adopted Thai Financial Reporting Standards (TFRS) 15, Revenue from Contracts with Customers. The standard affects the accounting of handset campaigns which are contracted with price plans. Prior to 2019

• Debt to Equity ratio2 stood at 0.80 times as of 30 September 2019, decreased from 0.94 times as at end of 2018 Changes in accounting policy and reclassification in 3Q19, during the 3-month and 9-month

liabilities stood at THB 7,174.9mn • Debt to Equity ratio stood at 1.04 times as of 31 December 2019, decreased from 1.14 times as at end of 2018 Change in accounting policies and reclassification in 2019

1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE For

1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE In