-up phase. However, we believe that our feat of endeavors as mentioned shall be considered an investment from strategic perspective to substantiate a solid platform instrumental in driving business
control of the issuer. The materiality of the KPIs to an issuer from a sustainability/ESG perspective should be based on a materiality assessment of the issuer’s business. External guidance and/or tools
is industry terminology referring to an investment approach that selects companies that are leaders from an ESG perspective. We consider that the integration of sustainability risks in the decision
Flows Statement 28 Financial Ratios 30 Environmental Management Accounting 31 Management’s Perspective towards 2019 Performance Management Discussion and Analysis of Business Operation for FY2018 Bangchak
Products 23 - Natural Resources Statement of Cash Flows Statement Financial Ratios Environment Management Accounting Statement of income 11 Financial Position 32 Management’s Perspective towards 2020
(Competitiveness and performance with long-term perspective) 2. ประกอบธุรกิจอย่างมีจริยธรรม เคารพสิทธิและมีความรับผิดชอบต่อผู้ถือหุ้นและผู้มีส่วนได้เสีย (Ethical and responsible business) 3. เป็นประโยชน์ต่อสังคม และ
initiatives abroad, as well as a bullish interest rate trend. As a result, business income and costs were adversely affected. Under these circumstances, KBank put in place more stringent customer approval
and its trade partners’ retaliatory measures, bullish interest rates, and impacts of digital disruption which may adversely affect income and operating costs of certain businesses. At the same time
, protectionist measures of core economies, bullish interest rates and impacts of digital disruption, may adversely affect income and operating costs of certain businesses. Under these circumstances, KBank put in
the risk-based argument, it is theoretically built on valuation perspective suggesting that, ceteris paribus, an increase in an earnings stream or a decrease in discount rate result in higher price. In