Company was derived from cost of goods sold that adjusted downward mildly from the change in production plan and sales mix. Sales Expenses Sales expenses for the three months period ended 31 March 2018 and

million or 44.5% from the same period of last year. Normalized net profit, adjusted with Non-recurring item, for the period of Q3’2018-2019 was Baht 444 million, increased by 101 million or 29.4% from

million. Fro the interest e was Baht 81 ht 14.49 mil ebentures in t in associate n associated company rec 3 million, incr on compared increased from serving 20 ye illion. And th hat adjusted u 4 million

the Labor Protection Act (amount of Baht 42 million), totaling of Baht 162 million. If adjusted by adding these expenses to Baht 140 million, result in a figure of Baht 302 million. This is an increase

expenses in the 2nd quarter 2020 decreased by 2.72 million baht from the same period last year. Due to the reduced shipping cost due to the oil price, Long-term lease payments which have been adjusted to

earnings are modified for risk and no further adjustment to the discount rate should be used beyond risk-adjusted expected earnings. Their model specifies that risk residing in economic fundamentals, i.e

market liquidity indexes are (1) turnover value (2) illiquidity ratio (3) adjusted zero return measure (4) illiquidity ratio (5) return reversal measure (6) Liu’s measure or turnover adjusted number of

Power BI visualization of our results can be accessed at http://bit.ly/2PjAo2L. Keywords: equity mutual funds, risk-adjusted return, flow-performance relationship JEL Classification Code: G11 http

of trading volume, a number of listed companies along with the introduction of new financial instruments and complexity of management strategies. Assessment criteria must therefore be adjusted in

improvement in shipping costs and adjustment of commission policy which was adjusted to pay at lower rate than last year. 8. Administrative expenses In 2018, administrative expenses increased by Baht 20. 0