Operating Results 1. Organizational structure and operation of the group of companies 3 2. Risk management 12 3. Business sustainability development 13 4. Management discussion and analysis (MD&A) 17 5

Section 133 Securities and Exchange Act B.E. 2535 Section 133. The securities company shall manage a private fund with honesty and care to preserve the interests of the person who has authorized the

this Notification: (1) “ fund ” means an infrastructure fund; (2) “ management company ” means a securities company holding a license to manage mutual funds; (3) “ infrastructure asset ” means: (a) the

and nature of the businesses operated by the Company or the group of companies which comprises the Company, its subsidiaries and associates being operated or to be operated, as the case may be. The

acquisition of a business, unrelated to the operation of the current business. 3. To repay a loan or debt incurred from an issuance of debt securities. · In case of debt repayment to a group of financial

market conduct; (6) competent staff readiness An intermediary shall provide the competent personnel with the suitable amount for the business operation, and shall supervise its personnel to perform duties

interest of investors based on proper and effective rules and regulations. This serves to assure investors that management companies will appropriately manage the investments for investors, keeping in mind

prescribe the standard for the management of retail funds , accredited investor funds , mutual funds for institutional investors , and private funds to ensure that the management companies oversee and manage

oversee the operation related to important matters such as an audit committee, a credit limit consideration committee and an investment committee to allow such committees to screen and give recommendations

etc. [M] · Providing an oversee system the operation of officer under the policy strictly [M] · providing an inspection and assessment of the sufficiency of policy and internal control information