times in 2020 and 0.16 times in 2019, Which shows the company's liquidity outlook improved due to the fact that inventories are classified as current assets with very little liquidity. Therefore

MAR 2020 Efficiency Ratios Leverage Ratios MANAGEMENT OUTLOOK

OUTLOOK

Secretary-General, said ?With the current economic and social conditions and the outlook, in particular aging society, everyone needs to understand and realize importance of saving and investment to ensure

outlook, in particular aging society, everyone needs to understand and realize importance of saving and investment to ensure that his or her investment growth will outpace inflation and to be properly

FROM THE CHAIRMAN (Suchart Jaovisidha) Chairman SCE_Eng_p.1-16 10/29/04, 1:05 AM4 5 In 2003, the bullish stock market was a good reflection of Thailandûs economic recovery with strong outlook and

Market Outlook 2 Climate Bonds Initiative. (2022). ASEAN Sustainable Finance State of the Market 2021 3 Climate Bonds Initiative. (2023). Climate Bonds Taxonomy 4 Climate Bonds Initiative. (2022). Global

support project in the first quarter of 2019 is more difficult and varied than the previous year which effected higher cost than the first quarter of 2018 6. Cost of goods sold (E-Commerce) Cost of goods

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

for equity crowdfunding. Furthermore, in the case of ICOs, imposing the aggregate limit would not be an effective investor protection mechanism. This is because it would be very difficult to enforce and