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33.00% which is a result from the better monitoring system to control the expenses, The company still focuses on expanding the flexible packaging market. 4. Administrative expenses For Quarter1 of the

prior period which mainly increased from the existing customers expanding the services. Moreover, when compared to the same period of prior year, it was increased by THB 10.8 million or 8.6%. For the six

mainly increased from the existing customers expanding the services. However, when compared to the same period of prior year, it was decreased by THB 19.3 million or 13.3%. And for the six-month period, it

137.0 million, increased by THB 0.3 million or 0.2% from the prior period which mainly increased from the existing customers expanding the services. Moreover, when compared to the same period of prior

, we use the Carhart (1997) 4-factor adaptation of the Fama and French (1993) 3-factor model that includes the momentum (returns persistence) factor.4 For each stock in the sample, we estimate its beta