expenses, along with the expansion of gross profit margin through the selection and improvement of product quality to better meet the needs of customers. In 2017, the Company opened 1 HomePro stores at Lotus
Project Evaluation and Selection 9 4.3 Management of Proceeds 10 4.4 Reporting 11 5.0 External Review 12 3ASEAN GREEN BOND STANDARDS 2018 INTRODUCTION The ASEAN Capital Markets Forum (ACMF)1 is a forum
financial advisory firm to re-evaluate the fair value of such investments with the use of the income-based approach and the discounted cash flow and Black-Scholes option pricing model. Based on the selection
Social Bond Standards 7 3.0 Criteria for ASEAN Social Bonds 7 4.0 Guidance on the Four Core Components of the 8 Social Bond Principles 4.1 Use of Proceeds 8 4.2 Process for Project Evaluation and Selection
components for alignment with the Social Bond Principles are: 1. Use of Proceeds 2. Process for Project Evaluation and Selection 3. Management of Proceeds 4. Reporting The key recommendations for heightened
Project Evaluation and Selection 3. Management of Proceeds 4. Reporting The key recommendations for heightened transparency are: (i) Green Bond Frameworks (ii) External Reviews 1. Use of Proceeds The
of Proceeds, Process for Project Evaluation and Selection, Management of Proceeds and Reporting), as well as recommendations for the use of external reviews. It mirrors the additional guidance and
are a variety of ways for issuers to obtain external input to their green, social, sustainability and sustainability- linked bonds process and there are several levels and types of review that can be
will be disclosed and reported by issuers to stakeholders. The SBP have four core components: 1. Use of Proceeds 2. Process for Project Evaluation and Selection 3. Management of Proceeds 4. Reporting 1
and adverse selection that lead to underinvestment problems. Authors Results of government subsidy Deng et al. (2020, 2021); Hu et al. (2019) Encourage long-term investments only for the 1st stage