with independent audit regulator of each EU member state. This reliable audit oversight has translated into better and more credible financial information. Similarly, the international recognition of

Solutions grew by THB 35.31 million or 13.43% from the recognition of license income and implementation fee from projects in Thailand and Malaysia, as well as, organic growth in recurring outsourcing income

management, compliance, and internal audit based on the principles of the Three Lines of Defense to ensure the effectiveness of securities company oversight and to further promote recognition of the

been appointed to fulfill the Board of Directors. หนา้ 9 4.2 Statement of Financial Position The following table sets forth a summary of the statement of financial position for the years ended December

economy growth in 2019, the slowdown of Government’s energy Saving programs promoting the replacement of conventional lamps to LED and the delays of sales revenue recognition resulting from product

cycle were found in the following areas: audit sampling, audits of revenue recognition under percentage of completion method, audits of inventory and cost of sales, and the process of forming an audit

number of workers and machines in order to fulfill the production capacity. While, the cost of sales in year 2017 was 1,061,355,615.09 Baht, representing 95.00% of total sales. Moreover, in the year 2018

48 months in order to fulfill the electricity supply requirement under the concession.The above construction contract is considered a related transaction as the major shareholders of VTE indirectly

presenters and should not be treated as those of the SEC Thailand. • These slides are not to be posted (on any websites or public domains), cited, copied or circulated. 2 Revenue recognition 3 Revenue

million primarily due to 1) the increase in building and equipment of THB 295 million, which were mainly from the recognition of billboard structure of THB 147 million, an increase in work in process of LED