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...
its operation is in accordance with the terms specified in the service level agreement; (d) effectiveness for adopting new IT system in business operation. For example, monitoring of the operating time
operation is in accordance with the terms specified in the service level agreement; (d) effectiveness for adopting new IT system in business operation. For example, monitoring of the operating time after the
over the Winter season, and the colder than usual weather condition led to some European refineries postponing their maintenance period from March to Q2/2018. On the other hand, supply-side support came
THB 3,001, 68.8% and THB 2,065, respectively. Overall RevPAR decreased by THB 266 YoY, from THB 2,331, chieflyas a result of full year consolidation of the hotel business in Europe (1Q 2017 low season
season. The Company’s management has primarily evaluated and forecasted that it would take at least 5 to 6 months for the tourism sector to slowly recover. The sign of recovery is expected to be evident at
deep by such dilemmas. Tourism industry has reported a dramatic decline of tourist arrivals and the rise of hotel booking cancellation during high season. The Company’s management has primarily evaluated
marketing and promotional event expenses to support the festive season at the end of the year. Hence, gross profit ratio (excluding other income) in 4Q17 dropped to 47.8% from 48.7% a year earlier whilst
crop season. CMG inventories from customers’ stock also increased. Meanwhile, there was also higher trade receivables resulted from higher sales contribution of domestic whose collection period is longer