: 1% of Collateral’s value per annum 4) Objective For guarantee of public utilities for government section 5) Total Value and Valuation criteria of the transaction. 5.1) The transaction that the company

valuation and stock price. 9. Opinion of the Company’s Audit Committee and/or directors that differs from opinion of the Board of Directors None of the directors and/or Audit Committee members of the Company

debenture with Asia Plus Securities Company Limited which in totaling Baht 500 Million. 5) Total Value and Valuation criteria of the transaction. 5.1) The transaction that the company made with the connected

and Building in the J Avenue (Ratanathibet- Bangbuathong) 4) Objective Working Capital for development of projects. 1.3 Total Value and Valuation criteria of the transaction. 1) The Connected

is derived from negotiation between the parties, with reference to valuation of share price by discounted cash flow method. 6. Opinion of the Board of Directors on the Entry into the Transaction The

process of being prepared, it will be completed within 1 year from the date of purchase, which might affect operations in the current period after receiving the business valuation report. Financial ratio

loss on change in status of investments as the valuation of the investments is valuated at fair value or Baht 5 million. Furthermore, the company suffer from loss on recognition of other comprehensive

!: ".+" #" ! Fed %+!"$ ก$-, ' ,( (## - ., " Fed %+*3-ก$-ก 1 "!-8 >.". .++ก ?* $8 ก.. @3 %+ ก!, Valuation *, 8+!$ .+' 8, #" # %+!$I 89"3 !*J .+' 8!ก* ' ก' (8, .+ $ " # *K,ก ' !$ -' !กก !".+' Overweight 8, R

%-. !!, ก (Percentage Loss) *, EM 8H%%$!8+!$ 8ก"ก!$ก !$9 "!-ก I 8$ก 10 J # +ก$ก!$ก ,$,* +ก$ก (Earning Growth) *$N!%+$8, ! ก!",$,(8+!$.+ก กO*ก !$9 8, O!% !!- %2# ก +!$ Valuation *, EM 8H%%$!%+( ก!$8

– Q2 • The Valuation Role of Fundamentals • This equation is estimated using the Probit Maximum Likelihood Estimation method. 6/29/2015 22 Empirical Test – Q2 • The next main objective is to test whether