services suitable to each client carefully, especially with special care to the following clients: (1) any individual who is sixty years old or older; and (2) any person who has little financial knowledge

either of little use to or misleading for market participants. Stale credit ratings that fail to reflect changes to the financial condition or prospects of a rated entity, obligor, originator, underwriter

The opinions of the Independent Financial Advisor on the connected transaction (For the purpose of translation only) 0 The opinions of the Independent Financial Advisor on the connected transaction by Thai Wacoal Public Company Limited Presented to Shareholders of Thai Wacoal Public Company Limited Prepared by 8 March 2019 This English report of the Independent Financial Advisor’s Opinions has been prepared solely for the convenience of foreign shareholders of Thai Wacoal Public Company Limited...

theoretical standpoint (Cremer 1993; Van den Steen; 2010, Li, Mai, Shen, and Yan, 2021; Weber, Shenkar, and Raveh 1996; Graham, Grennan, Harvey, and Rajgopal 2016). There has been, however, very little

quality or produced through a process of questionable integrity are either of little use to or misleading for market participants. Stale credit ratings that fail to reflect changes to the financial

total voting shares of such company, clarify why such practice is employed instead of direct shareholding by the Company; (3) In case of several connected transactions, each with little value, grouping

result in onerous information requirements with little practical benefit. 15 See Figure 8.1 in Sims et al. (2014) ibid. 16 For example, a battery electric vehicle could have higher well-to-wheel emissions

company, clarify why such practice is employed instead of direct shareholding by the Company; (3) In case of several connected transactions, each with little value, grouping such transactions as seen

relationships and trends for which little or no numerical data is available Relies on numerical data and models; assesses measurable trends and relationships using models and other analytical techniques 1 2 3

(KCR3YD-AI), and K Thai Fixed Income 3 Years A Fund – Not for Retail Investors (KTF3YA-AI). Meanwhile, we elevated THE WISDOM brand to provide greater benefits and maintain our leadership status, through