privileges for many years. Overall, the Thai stock market is still considered to be a relatively attractive market in the region. As of December 31, 2004, the P/E ratio of the SET was at the level of 9, the
the first seven months as a result of the BOT's economy stimulating monetary policy, while inflation risk remained low. The policy rate was cut five times from 5 percent to 3.25 percent. Government bond
debate within the board of directors, and ongoing engagement and dialogue with shareholders) makes the company more attractive to investors and lenders. In a region where corporate governance risk remains