fundamentals, earnings persistence, and future earnings (e.g. Lev and Thiagarajan, 1993). More specifically, when investors observe a pattern of increasing earnings, they can infer that a firm has stronger

vocal about engaging with sustainable brands Only 58% of these organizations are moving sustainability programs into implementation Only 22% are measuring progress against targets Context Global shift

Top Quintile from 2012 through 2014. Only four funds stay in Top Half from 2010 through 2014. Performance Persistence Over Three Consecutive 12-Month Periods Mutual Fund Category Fund Count at Start

quarter of 2017 but recovered back to normal in 2nd quarter of 2017. However, the sales in the Chinese market was lower than the predicted target due to moving period for some production line to Rojana

back to normal next year. We are confident with our new mission in moving forward is to become a Health-Driven Global F&B firm through a 4R strategy that we have already started to implement as follows

, 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

-2023 ~600kta ROCE 13-15% ~400-450 Adopting best in class international practices Going forward, our MD&A reporting will reflect the Reported EBITDA & Underlying EBITDA in a sequential manner, moving away

OUTLOOK Moving forward, the Company will place a stronger focus on international markets while placing domestic media assets under the management of Plan B Media Public Company Limited (“PlanB”), which

safest and most responsible ways of moving people. Sustainability Roadmap Do no harm Do it better Differentiation What can young directors learn from the board? Board Effectiveness Board Diversity • Skills

sales. These measures are expected to enhance sales efficiency and return moving forward. • International revenues and others were Bt6,564mn decreasing 0.4% YoY from a decline in IDD service which was