strategy of diversifying its revenue streams within its area of core competence. This same strategy has continued to play a vital role in its ability to deliver industry- leading performance and providing a

competence. This same strategy has continued to play a vital role in its ability to deliver industry- leading performance and providing a natural hedge against short-term volatility in product margins.  Core

negative growth for over the past 2 years according to Nielsen Thailand, but also play a vital role in expanding current domestic business of the Group and in the future in relation to the growing demand and

independence of CRAs vis- à-vis the entities and obligations they rate is vital to achieving this goal. Provisions of the IOSCO CRA Code, dealing with CRA responsibilities to rated entities, obligors

investors and other users of credit ratings assess credit risks. Maintaining the independence of CRAs vis- à-vis the entities and obligations they rate is vital to achieving this goal. Provisions of the IOSCO

well-prepared, and ready to fine-tune business strategies in a timely manner to remain competitive. 4. Regulatory Risk Given that commercial banks are deposit-taking institutions which play a vital role