: Sura Piset Pattharalanna Company Limited 1.4 Connected Nature ThaiBev is the major shareholder of the Company and Sura Piset Pattharalanna at 79.66% and 99.99% respectively. 1.5 Type and Size of

be separated into each entity according to the aforementioned rental spaces. 3.4 Nature of relationships Thai Beverage Public Company Limited (“ThaiBev”) is the major shareholder of the Company and ASM

efficiency of assets utilization and also increase cash flow to the Company. 8. Directors who abstained from vote in the Board of Directors’ Meeting The directors who are representatives from ThaiBev abstained

. (2005) find that investors care more about “visible” fees such as front- and back-end load fees, but not operating expenses, so this could potentially be one reason behind this puzzling finding. 4