tourists, compared to 5,872,145 people in the pre-COVID-19 period (Jan-Feb 2020), as travel restriction remained in place. In 2021, the recovery of the Thai economy is expected to be fragile and uneven

fragile, others remained mired in uncertainty in terms of new modes of competition, a broader marketplace within the ASEAN Economic Community (AEC) and the digital age, along with external changes

interests is a long and complex one. Indeed, some have suggested that it is too complex and confusing. This section is a brief high level attempt to provide insight into that complexity. In a broader sense

ecosystems and ecological processes to deliver services for humans are both highly variable and confusing and continue to proliferate. Rather than create new terms with these Criteria, we have focused on a

same ground. There is also potentially confusing differences and overlap between the SEA and PLCA. In spite of wide spread training and awareness raising, market participants may not always fully

Thailand. The Bank of Thailand revised down the projection of overall economy for 2020 to contract 7.8% (as of September 2020) from the earlier forecast of 8.1%. But the fragile labor market, uncertain

satisfactory economic growth, many key nations such as Japan and China recorded a slowdown. The Eurozone was fragile while Russia faced economic problems and currency volatility from sharply declining crude oil

20T H ANNIVERSARY 1 Securities and Exchange Commission, Thailand Annual Report 2012 SEC ANNUAL REPORT 20122 THE YEAR OF CHANGE The year 2012 was the time for change to become the visionary partner whose balance between proactive and preventive approaches has led to stakeholders’ confidence in the Thai capital market. THE YEAR OF CHANGE 20T H ANNIVERSARY 1 02 MESSAGE FROM THE CHAiRMAN 04 MESSAGE FROM THE SECRETARY-GENERAl 06 SEC BOARd 09 CApiTAl MARkET SupERviSORY BOARd 12 ExECuTivE OFFiCERS 13 O...

growth. Even though business loans are expected to receive an additional boost from public investment, retail loans will remain challenged mainly by fragile consumer confidence and household debt servicing

following the policy rate increase by the US Federal Reserve, may see an economic slowdown during this quarter. Aside from their fragile economic fundamentals, these countries were vulnerable to capital