exchange Earnings from operation before change in operating assets and liabilities Operating assets (increase) decrease Long-term deposits at financial institutions Securities purchased under reverse

Exchange Commission Remark : The reason for issuing this Notification is that the securities company has flexibility in operating its business, able to increase its income and expand its customer, and to

has flexibility in operating its business, able to increase its income and expand its customer to prepared for the upcoming competition after the liberalization of derivatives business license in the

Securities and Exchange Commission No. Or Thor. 21/2543 Re: Guidelines for the Operating Control of Brokerage and Dealing of Securities That Are Not Debt Instruments _____________________________ For the

presented in the latest audited financial statement is in a positive position. If there is a capital increase after such financial statement, the increased amount could be added to the shareholders’ equity

Operating Results 1. Organizational structure and operation of the group of companies 3 2. Risk management 12 3. Business sustainability development 13 4. Management discussion and analysis (MD&A) 17 5

subsidiaries operating the core businesses and other oversight guidelines for activities such as approval of increase or reduction of capital and dissolution of subsidiaries, etc. In case of a holding company

of the Office of the Securities and Exchange Commission No. OrKhor./Nor. 5/2549 Re: Guidelines Relating to Operating Systems of Fund Management Business In order for a management company to comply

control in the subsidiaries operating the core businesses and other oversight guidelines for activities such as approval of increase or decrease of capital and dissolution of subsidiaries, etc. In case of a

be applicable to the outsourcing of operational function of an intermediary to third parties in order to increase flexibility and efficiency of business operation of the intermediary . In this regard