does not change significantly in 2005, though the pace of growth may slow down, in line with a declining trend in global economic expansion. Various negative factors that impacted economic growth in the

Expansion of Investor Base and Distribution Channels Coupled with Promotion of Investment Culture ■ Additional Mutual Fund Management Licenses to Promote Professional Management in the Thai Capital Market

● Development of Debt Instrument Secondary Market Expansion of Investor Base and Distribution Channels for Investors and Promotion of Investment Culture ● Additional Mutual Fund Management Licenses in the Thai

are to maintain efficient, M.R. Pridiyathorn Devakula Chairman Message from the Chairman A n n u a l R e p o r t 2 0 0 6 3 Thirachai Phuvanatnaranubala Secretary-General The economic expansion was on

repo market in February 2008 and conduct bilateral repo transactions with primary dealers instead. Private repo will become more and more important source of funding and in turn contributing to expansion

objectives. Therefore, the SEC places strong emphasis on outcome-based development of employee competencies to ensure effective job performance for the benefit of investors, other stakeholders and the general

board or management for company pension funds and for employee stock ownership plans, the directions for voting should be disclosed. It is regarded as good practice that treasury shares and shares of the

issues, consider policies and regular work relating to employee matters and the engagement of other parties to prepare the operating system for the SEC Office/ meetings/ seminars/ MOU/other events/exchange

depository shall not have any of the following characteristics: (1) is or was an executive director, executive, staff member, employee, or advisor, or is holding or held any other equivalent position, of the

should develop and provide employee and shareholder handbooks that specify rights, entitlements and avenues for redress. Employee handbooks should describe company policies and procedures on matters such