Management discussion and analysis /Page 11 to further develops complete Omnichannel services that deliver new and superior retail shopping experiences that fit changing lifestyles of consumers in the era of

mutual funds are able to successfully time the market and that their performance is negatively related to their expenses. • Carhart (1997) documents that persistence in superior fund performance is very

of stocks in promise of superior performance. Studies on fund managers’ stock selection skills and fund performance yield mixed results, partly because there are various ways one could measure them.9

. Power Plant Business Group recorded a superior electricity sales (+3% QoQ and 4% YoY), from the commercial operation commencement of Nagi and Gotemba solar power plant in Japan. For Solar power plant

to Energy 2016, World Energy Council. 25 João Aleluia, Paulo Ferrão, Assessing the costs of municipal solid waste treatment technologies in developing Asian countries, Instituto Superior Técnico

Securities and Exchange Commission Independent Audit Inspection Activities Report THE ROAD LEADING TO GROWTH 2013 This report is available for download on the SEC website: www.sec.or.th Contact For more information, please contact us at: Securities and Exchange Commission,Thailand 333/3 Vibhavadi-Rangsit Road, Chomphon, Chatuchak, Bangkok 10900, Thailand Tel : +66 2 263 6082 or +66 2 263 6218 e-mail : oca@sec.or.th Root cause analysis Activities for enhancing audit quality Suggestions on how to...

523,768,667 4.95 523,768,667 3.76 6. GS Security Holding Company Limited 520,000,000 4.91 520,000,000 3.73 7. Superior Overseas (Thailand) Co., Ltd. 412,500,000 3.90 412,500,000 2.96 8. Thai NVDR Co., Ltd

523,768,667 3.76 6. GS Security Holding Company Limited 520,000,000 4.91 520,000,000 3.73 7. Superior Overseas (Thailand) Co., Ltd. 412,500,000 3.90 412,500,000 2.96 8. Thai NVDR Co., Ltd. 187,951,907 1.78

re- place purchased PTA appears well timed.  In Asia, firstly the formation of a 50:50 JV in India in September 2016 led to subsequent de- consolidation of superior margin India PET business and

approximately 25% which should lead to the higher earnings for the Company on a per-tonne basis with scale and product mix impact. This is superior to existing portfolio which based on 2H17 run-rate provides a