% • [High-Risk Group] One standard deviation increase in realized loss would increase risk-taking by 2.98% SEC Classification : ใชภ้ายใน (Internal) Results – Bull vs. Bear Markets 19 SEC Classification

companies: because of low interest rates. • Large financial Institutions / banks: may increase risk to compensate for low interest rates. • Telecoms: high competition and change; a lot of intangible assets

ICO, the SEC would like to further raise the following issues for public consultation. Please note that our public consultation will be extended to December 15, 2017. To send your comments and

it has had a chance to respond to the investors’ letters. CalPERS prefers to raise the issue with companies first so that boards have an opportunity to respond. Another issue is discretion. Once

Thai market. Buy Sell Low momentum High momentum Based on last month return (2) If high returns attract fund flow, then funds may be tempted to increase risk to compete. Equity Mutual Funds

raise capital at the lowest possible cost. Implications THANK YOU

, “Strengthening Good Corporate Governance by Audit Committee and Independent Director: Experiences from Fraud Cases” to discuss samples of fraud cases taking place around the world and to raise the awareness of the

Company, wishes to raise funds through an increase of its registered capital and offer such newly issued ordinary shares to the public by an initial public offering (the “IPO”) and subsequently list its

: 02-455-2763 3. Nature of the transaction CAZ will apply to be listed on the mai in order to raise funds by offering its shares through the IPO. CAZ intends to increase its capital from Baht 100,000,000

Company Limited 140/1 KHANJANAPISEK RD., BANGKAE, BANGKAE, BANGKOK, THAILAND. 10160 Tel: 02-455-2888 Fax: 02-455-2763 3. Nature of the transaction CAZ will apply to be listed on the mai in order to raise