Earnings Management • Earnings management includes both legitimate and less legitimate decisions by manager to change accounting policies or real actions in order to smooth earnings or achieve some specific

Effectiveness The chair is responsible for leadership of the board and ensuring its effectiveness. The chair should ensure a culture of openness and constructive debate that allows a range of views to be

range 80-100%Score range 0-20% Score range 60-80%Score range 40-60%Score range 20-40% Fund 2Fund 1 Stock A ,B,C =70% Stock X ,Y,Z =30% Active share Similarity However, at the firm level, controlling for

that have invested or held equity instruments issued by PTT Public Company Limited. In order to protect the investors’ interest and legitimate right and ensure that they are treated fairly, it is

investment decision-making by enabling portfolio managers to identify the full range of potentially unrewarded risks and otherwise unidentified opportunities. Once an investment is made, engagement is often

and continuous declining global economy and the greater range of fluctuation that had a strong effect to maritime industry. Please be informed accordingly. Yours sincerely, Chanet Phenjati President

. The net loss decreased 39.85% The loss from operation was due to the long and continuous declining global economy and the greater range of fluctuation that had a strong effect to maritime industry

net operating loss is equivalent to 15.82% The loss was due to the declining global economy and the greater range of fluctuation that had a strong effect to maritime industry. However, the loss

the greater range of fluctuation that had a strong effect to maritime industry. However, the loss decreased substantially. Please be informed accordingly. Yours sincerely, Chanet Phenjati President

the mutual funds that have invested or held equity instruments issued by PTT Public Company Limited. In order to protect the investors’ interest and legitimate right and ensure that they are treated