108.1 mm for the first quarter of 2020, decreasing by 42.3%, compared to the same period of the previous year. Expenses Analysis Q1 2019 Q1 2020 Increase/ (Decrease) THB mm THB mm % Selling expense 42.5

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AGENCIES INTRODUCTION In 1 The IOSCO CRA Principles were designed to be a useful tool for securities regulators, credit rating operate and the manner in which opinions of CRAs should be used by market

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any other securities; “securities investment analysis”4 means an analysis on information in connection with securities in order to make an advise or to disclosure such analysis directly or indirectly

means any direct or indirect advice made related to the value of securities or appropriate of investment in such securities or any other securities; “securities investment analysis”4 means an analysis on

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Baht 2 0.25 per share with the offering price of not less than 90 percent of the market price on the date which the Board of Directors determines the offering price of shares based on the market price