Operating Results 1. Organizational structure and operation of the group of companies 3 2. Risk management 12 3. Business sustainability development 13 4. Management discussion and analysis (MD&A) 17 5

information 16. Management discussion and analysis Part 3 Information on the offer for sale of securities 1. Details of the securities being offered for sale 2. Transfer restriction of the securities being

and nature of the businesses operated by the Company or the group of companies which comprises the Company, its subsidiaries and associates being operated or to be operated, as the case may be. The

or a group of persons who authorized a management company to manage a private fund; “Liquid asset” means assets as follow: (a) Cash or deposit money; (b) Certificate of deposit or promissory notes

obligation etc.. 3. Securities purchased under a reverse repurchase agreement means a loan with an agreement to accept the transfer of a financial asset from the other party in exchange for cash or in return

express opinions independently from the following persons: (a) the persons who will sell, transfer, lease or grant the rights in the infrastructure asset to the fund; (b) the common person group of (a). (2

information owner give other user the right to reach or modify his information such as share file etc., it shall give the right for specific person or specific group only and cancel such right when there is no

payment information of intermediary for money transfering between customers and intermediary ; (3) sending transfer instruction to banks as an agent for intermediary . “ fund ” means mutual fund, private

to receive financial incentives in order to favor the interest of one client [or group of clients ] over the interest of another client [or another group of clients ] in the manner of unfair treatment

for selecting an analysis/a research to support an investment decision. (4) Prescription of criteria in selecting each asset/group of asset to be actively or passively* invested in order to reduce risk