and undertaking of digital asset businesses without causing undue hindrance to stakeholders and those interested in providing digital asset-related services or compromising appropriate investor

bunch (FFB) in April 2020. As CPO expeditiously increased as mentioned above, the Company could not adjust selling price to keep up with the CPO market price; therefore cost of sales ratio increased from

hindrance to stakeholders and those interested in providing digital asset-related services or compromising appropriate investor protection mechanism.? The Royal Decree on Digital Asset Businesses B.E. 2561

20T H ANNIVERSARY 1 Securities and Exchange Commission, Thailand Annual Report 2012 SEC ANNUAL REPORT 20122 THE YEAR OF CHANGE The year 2012 was the time for change to become the visionary partner whose balance between proactive and preventive approaches has led to stakeholders’ confidence in the Thai capital market. THE YEAR OF CHANGE 20T H ANNIVERSARY 1 02 MESSAGE FROM THE CHAiRMAN 04 MESSAGE FROM THE SECRETARY-GENERAl 06 SEC BOARd 09 CApiTAl MARkET SupERviSORY BOARd 12 ExECuTivE OFFiCERS 13 O...