Period (Day) 58 58 66 CASH CYCLE (Day) 9 14 18 PROFITABILITY RATIO Gross Profit Margin (%) 8.57 7.82 10.37 Net Profit Margin (%) 4.61 3.56 5.94 Return on Equity (%) 6.03 5.01 8.05 EFFICIENCY RATIO Return

of how Thai taxpayers utilize tax-advantaged retirement saving vehicles Life-cycle patterns of retirement saving and implications on saving adequacy 1 Empirical evidence Two complementary perspectives

days 69 72 63 Cash Conversion Cycle days 81 75 66 Finanial data and profitability ratios Sales revenues million baht 49,269 46,887 46,938 %change (%) 5.1% (0.11%) 6.51% Gross profit million baht 12,547

inspection cycle (2016 to 2018), audit firms in the capital market established and maintained a system of quality control as required by the Thai Standard on Quality Control (“TSQC 1”). The majority of audit

while the decrease in revenue of the combined cycle power plant is caused by temporarily shut down for major maintenance. Please be informed accordingly. Yours faithfully, (Mr.Pijayaphong Na Bangxang

from the first inspection cycle (2010-2012) to 2019, the first year of the 4th inspection cycle (2019-2021), showed promising overall improvement despite the SEC’s more intensive inspection in several

business in automobile assembly, public transportation services, supported technology and related application to public transportation business. All S will increase the registered capital from 300 million

sales of light vehicles, U-shape recovery is expected with easing of situation and financial support given to Automobile sector by European government. Capital Expenditure Program IVL expects its balance

and Exchange Commission Independent Audit Inspection Activities Report Independent Audit Inspection Activities Report for the 1st Cycle 1 October 2010 - 31 December 2012 Introduction Quality Assurance

S Holding Co., Ltd. (“All S”), which aim to invest in automobile assembly business, public transportation services, supported technology and related application to public transportation business. In