integrity. The SEC also oversees regulatory compliance and enforces the governing laws to ensure that the capital market will be developed toward sustainable growth and generate positive impacts on the

ownership of the business.  Positive gains of the company will also benefit the shareholders. However, the capital increase may cause a dilution effect on shareholders. Therefore, supervision of the program

business relationship, investment, or administration and management of the issuer, for example, customers, suppliers of raw materials, potential business partners of the issuer, the affiliated companies of