from poor timing and end up buying and selling at the wrong times. /Timing the market is too difficult. “It is a losing strategy” gChasing (short term) past performance has been a basic investment

high speed mounting machine at 10 years of lifetime and average 5 used years Transaction date August 2017 Transaction amount USD 1,115,740 approximately Baht 37,055,845.31 Pricing policy At Book Value

mn) New progressive license fee rate 0 – 100 0.125% 101 – 500 0.25% 501 – 1,000 0.5% 1,001 – 10,000 0.75% 10,001 – 25,000 1% 25,001 – 50,000 1.25% >50,000 1.5% At present, total regulatory fee composes

) (36.84) Operating and administrative expenses (58.39) (146.94) (238.28) (346.64) Loss on short-term investment - - (19.70) (6.72) Loss on exchange rate (12.34) (25.11) (0.84) (21.27) Finance costs (19.55

increased in line with the increased in revenue at a very similar rate when compare to Q2–2020 and Q3–2019. This is because gross margin of the delivered projects in each quarter is not different. In addition

speed unlimited price plan while handset subsidies were more locally- focused compared to last year. With accumulation of fixed- speed unlimited subscribers, revenue and ARPU have been pressured. However

was more difficult and varied than the previous year which effected higher cost. Therefore, the proportion of cost decreasing is less than the proportion of revenue decreasing. 6. Cost of goods sold

Positively related Subjective (as future volatility cannot be known) Risk-free rate (r) Positively related Negatively related Low impact on option price *The put value may increase as the option approaches

property and water investments; and will also facilitate the issuance of bonds from issuers who would otherwise find it difficult to gain recognition for their low carbon investments. The goal is to attain a

due to perceived growth opportunities. According to Gordon’s (1962) constant growth dividend discount model (DDM), the PE ratio is positively correlated with the expected growth rate but negatively