Investment Department (“DI”), with medium to long-term investment horizon, while PSEC manages short-term investment, by Investment and Trading Group, comprising of Equity and Derivatives Trading Department

due to lower prices. Net debt to equity is at 0.99 times, well below IVL’s covenants, and supported by stronger operating cash flow. The dividend payout of THB 1.225/share for 2019 remains higher than

of Equity and Derivatives Trading Department (“EDT”) and Hedge Fund Department (“HF”). EDT focuses on equity and equity-linked securities in the capital market and derivatives market, with short-term

Net operating debt to equity at 0.61 times with strong operating cash flow. Dividend payout remain much higher than its stated policy of 30% of net profits. Perpetual debenture of THB 15b refinanced at

system. At the end of 2018, the total Capital Adequacy Ratio (CAR) and Common Equity Tier 1 ratio (CET1) stood at 18.3 percent and 15.8 percent, respectively. The evolving business environment in 2018

29,48832,143 18,11822,379 30-Jun-1731-Dec-16 Current Liabilities L/T Debt (included current portion of L/T debt) Non Current Liabilities Total Equity Statement of Financial Position 45,99246,462 12,757 11,170

21,34621,651 30-Sep-1831-Dec-17 Current Liabilities L/T Debt (included current portion of L/T debt) Non Current Liabilities Total Equity Statement of Financial Position Financial Position of the Company and its

and Trading Group, comprising of Equity and Derivatives Trading Department (“EDT”). EDT focuses on equity and equity-linked securities in the capital market and derivatives market, with short-term

, the interest bearing debt to equity ratio and the debt to equity ratio have increased from 0.35 : 1 to 0.46 : 1 and from 0.50 : 1 to 0.73 : 1 as of 31 December 2016 and 30 June 2017 respectively. Cash

' Equity 2,101.16 2,147.64 (46.48) (2.16) 2.1 Assets As of June 30, 2017, the company and its subsidiaries had total assets of 3,600.17 million baht, a decreased from as of December 31, 2016, with total