Comments on: “Trading costs on the Stock Exchange of Thailand” Authors: Charoenwong C., Ding D.K., Jenwittayaroje N. Comments on: “Risk-taking behaviour during downturn: evidence of loss-chasing and

million, increased by 120.46% QoQ. However, UWC recorded net loss of THB 17.64 million decreased by 94.24% QoQ. For the Year 2020, UWC recorded gross margin of THB 112.45 million, EBIT of THB 12.45 million

follows. Performance Analysis For the Quarter 2-2018, the Company and its subsidiaries had total revenue of 373.61 million baht, an increase of 69.16 million baht or 2.75 percent, with the total net loss of

same period in 2018 had total revenues 373.21 million baht For the total net loss of 298.56 million baht or increased 753.52 percent compared to the same period in 2018 had total net loss of 34.98

) Cost of services - 2.33 (2.33) (100.00) Administrative expenses 36.45 27.17 9.28 34.14 Finance cost 6.72 6.94 (0.22) (3.12) Total Expenses 91.06 124.07 (33.01) (26.60) Loss before income tax expenses

% 4,552 59% Total Revenues 494,213 473,402 4% 498,549 -1% Profit / (Loss) before interest and taxation (44,109) (4,437) 894% 3,077 -1,534% Margin -9% -1% 1% Profit / (Loss) for the period (84,511) (47,544

services - 2.33 (2.33) (100.00) Administrative expenses 36.45 27.17 9.28 34.14 Finance cost 6.72 6.94 (0.22) (3.12) Total Expenses 91.06 124.07 (33.01) (26.60) Loss before income tax expenses (66.05) (60.71

to 239.95 million Baht in 2017. For the reasons mentioned above. The Company's consolidated financial statements the business profits for 2017 was loss 86.78 million Baht. The loss per share is 0.14

1/2 Ref: CIG 015/2018 March 12, 2018 Subject: Profit and loss reporting the financial statements for the year ended December 31, 2017 and explanation of more than 20 percent fluctuation in profit and

management. Based on the Company's financial statements for the 3 months ended March 31, 2018 The Company had a net loss of 4.22 million Baht or 1.57 percent of revenues from services. The net loss of the