ต้องการบริหารความเสี่ยงโดย back-to-back กับต่างประเทศโดยการซื้อหลักทรัพย์ต่างประเทศ ให้ถือว่าการซื้อหลักทรัพย์ต่างประเทศนั้นถือเป็นการลงทุนและนับเป็นวงเงินของลูกค้า แต่หากเป็นการบริหารความเสี่ยงโดยการทำ

assets in this manner have to accept all risks involved, including volatility of the value of digital assets, cyberthefts and misuse of digital assets as a tool to back money laundering. Moreover, certain

manufactured by the Company will have no quality problems in the future. The new preventive measures will also come with traceability, enhancing the ability to trace back the route of the product. The Company is

administrative expenses in Q1, Q2 and Q3/2019 compared to the same period last year, due to the higher back office salary expenses from business expansion. • Admin expenses to total revenue in 9M/2019 was 13.4

% from Q2/2018 mainly due to an increase in salary expenses in the back office. • Admin expenses to total revenue in Q2/2019 was 13.0% which improved by 5.7% from Q2/2018 due to higher revenue growth while

at the end of Q4/2019, thus the Company expects gross profit margin from sales to get back to a normal level in Q1/2020. • In Q4/2018, there were one-time reversal expenses of Baht 83.9 million from

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...

expenses each of the four quarters compared to the same period last year, due to the higher back office salary expenses as a result of business expansion. • Admin expenses to total revenue in 2019 was 13.4

expenses each of the four quarters compared to the same period last year, due to the higher back office salary expenses as a result of business expansion. • Admin expenses to total revenue in 2019 was 13.4

leisure travelers. For every 15 baht spend in foreign currency, card member will earn 1 AEON Royal Orchid Plus Reward Point. Card member will also earn cash back for up to 36,000 baht per year from spending