balance system (for example, independent directors and audit committee members) that will enhance the image and create confidence for the Thai capital markets.  In addition, this approach is in line with

Stock Exchange of Thailand Reference: Letter No. OP. 435/ 2019 dated 12 December 2019 on the entering into the Conditional Share Purchase Agreement for the acquisition of a majority shareholding in PT

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the value-at-risk (VaR) is by the relative VaR approach or the absolute VaR approach, and in either case at least the following assumptions used in the calculation by such approach shall include: (a