start to generate revenue  Power projects to consume large volume of water utilities OVERALL PERFORMANCE Operating Expense  Administrative Expenses increased from Baht 8.8 million to Baht 30.6 million

projects under construction will enhance our operating performance  No further loss from development cost to occur  Power projects to start to generate revenue  Power projects to consume large volume of

together with personal that are capable and highly skilled. There are risks, from relocating to new location, of both management, construction, requesting license that cost and time consume. Moreover, there

associated with the consumption of electricity (demand-side) are attached to the activities that consume electricity, for example, manufacturing of cement or electric cars. In this case they are recognised as

subsidies. Nevertheless, prepaid subscribers also continued to consume more data with VOU rising to 5.4GB, up from 4.1GB in 2Q17. As a result, total subscribers stood at 40.2mn with blended ARPU of Bt254

the media landscape brought by the change in people’s lifestyles and the way people consume media after the increasing popularity of mobile phones (or smartphones). Advertisers have adjusted their

landscape brought about by the change in people’s lifestyles and the way people consume media. The increasing popularity of mobile phones (or smartphones) as made content more accessible and ever-present

training to develop the skills of their employees. (2) Consumers will change the value and nature of their consumption patterns. Normally, people consume less as they get older but products and services that

service stations and at various locations in communities in order to allow those who have to donate into the barrels with various consumables for those in need to take or consume. 9 Management Discussion

Alpha, Beta, and Now…Gamma David Blanchett, CFA, CFP® Head of Retirement Research Morningstar Investment Management Paul Kaplan, Ph.D., CFA Director of Research Morningstar Canada August 28, 2013 Morningstar Investment Management Page 2 of 27©2013 Morningstar. All rights reserved. This document includes proprietary material of Morningstar. Reproduction, transcription or other use, by any means, in whole or in part, without the prior written consent of Morningstar is prohibited. The Morningstar I...