., 2018; CALISKAN et al., 2020) •Naive Portfolio •Minimizes risk without sacrificing expected returns(Tang, 2003) •Optimal strategy(Bock, 2018;Brown et al., 2013;li, 2018) 6 Background(Cont.) •Mean variance

maintain as the leader of online top-up machines market, both in terms of number of kiosks and total usage amount. The Company's strategy continues to focus on the efficiency of Boonterm kiosk spot as well

maintain as the leader of online top-up machines market, both in terms of number of kiosks and total usage amount. The Company emphasizes efficient Boonterm kiosk spot. In 1Q18, the Company has installed 5

42.25 151.37 34.20 Gross margin increased by 805 basis point from 34. 20% to 42. 25% Gross margin in HR solution improved significantly by 931 basis point from 35.64% to 44.95% attributing to higher

224.69 34.74 Gross margin increased by 728 basis point from 34.74% to 42.02%. Gross margin in HR Solution improved by 709 basis point from 37.15% to 44.24% attributing to higher productivity and

kiosk that responded to the needs of customers. It was also a service point that facilitates the use of the service as well including the strategy of the company that focuses on managing the installation

or the period mutually agreed. LHPF has 3 residential properties for rent which are (1) Centre Point Residence Phromphong, (2) L&H Villa Sathorn and (3) Centre Point Sukhumvit -Thong Lo. Objective for

margin was 7.53%. As a result of increasing in steel price trend from the lowest point at the end of 2019 and the improvement in operation cost. 3. Selling expenses were Baht 39.47 million; decreased Baht

”) Transaction type : Renewal of a hotel management advisor agreement which also granted the right to use the brand “Centre Point” for one year (1 October 2017-30 September 2018), with a renewal option upon mutual

. The improvement in gross margin in HR solution of 752 basis point from 37.91% to 45.43% is partially offset by a small 127 basis point reduction in gross margin in financial services from 27.79% to