enforced by banks, brokers, etc. • Governance by code, not by people – Nobody to hold accountable – Code is not always well-written – Velocity of transactions is very high, e.g., “flash loans” • Reliance on
including facilities and other infrastructures made it difficult to compare the rental and service fee with other available lands and buildings. However, taking into consideration of the followings, it is
that are difficult to detect. For example, (1) fraudulent transactions through a subsidiary located overseas that has obscure business objectives and is hard to inspect, (2) trading transactions and
from poor timing and end up buying and selling at the wrong times. /Timing the market is too difficult. “It is a losing strategy” gChasing (short term) past performance has been a basic investment
from the announcement. Financial structure The Company emphasizes the importance of financial structure management efficiency which should be flexible in difficult circumstances and able to maintain the
solutions ✓ Climate Adaptation solutions Copyright © 2022 by GMO LLC. All rights reserved. For Institutional Use Only | 20 INCORPORATING SUSTAINABILITY IN VALUATIONS Uncertain cash flows; difficult to
: (1) the dividend payment policy, dividend payment restrictions, and the management company’s management of any dividends which cannot be paid to unitholders because they hold investment units in a
Interest of Financial Institutions shall hold at least seventy-five percent of the total shares sold; and (2) the Ministry of Finance shall hold at least ten percent of the total shares sold. Clause 2 This
Interest of Financial Institutions shall hold at least seventy-five percent of the total shares sold; and (2) the Ministry of Finance shall hold at least ten percent of the total shares sold. Clause 2 This
capital. Using our voice through engagement with companies is an effective way to enhance our understanding of management’s objectives and to hold company leadership to account. It helps ensure that well