for a comprehensive picture of active management. Note: The full formula contains term x d[w fund,i >0] which is an indicator variable equal to 1 for all positions where the fund is positive and is zero

economy has moved on a positive trajectory and has followed a similar pattern to the previous quarter of last year. Since the second half of 2017 growth has been driven by the manufacturing sector, which

product. In addition, our engineering business saw the signing of a new project in Indonesia, which will bring positive EBITDA to the business in Q2 to Q4 period. A contingency plan to mitigate the impacts

support of the positive CSR effect on firm value irrespective of which proxy is used to identify CSR latent variable. Third, this study shows that CSR strategies based on a single pillar of ESG or the

back expected +4-5% range. We expect the overall burnt and crude product market contraction in 2020 and expansion in 2021 to be in the same range. This being said, we do not expect further major

represent our collective pathway out of the COVID-19 pandemic. Every day, more and more businesses are looking for straightforward ways to operate more sustainably and make a positive contribution to the SDGs

positive market sentiment in Thailand and on the export markets.” Golden Lime Public Company Limited 4 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 31 MARCH 2018 2. Outlook Overall Thai economic

firms from Singapore and Thai exchanges. • Next, firms sorted into decile groups by price and top decile price range is eliminated. • Assume event firm abnormal returns are independent as RTO occurrence

is positive, green bond’s yield is higher than conventional bond’s yield. • If green bond premium is negative, green bond’s yield is lower than conventional bond’s yield. • If green bond premium is

MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 30 JUNE 2018 3.1. Analysis of Q2 and H1 2018 results The key drivers of Q2 2018 performance on the positive side was the higher volumes (due to both market