subsidy/excessive investment. Ameliorate underinvestment concerns. Howell (2017); Li et al. (2019); Lee et al. (2014) Greater access to finance & undertake positive NPV projects. Pursue highly risky
before. The Company had reviewed the situation and consequently adjusted premium rates or stopped selling insurance policies with excessive risks. Moreover we intend to increase the volume of insurance
insurance policies with excessive risk. Moreover we intend to increase the volume of insurance policies with acceptable risk. 2. Net investment revenues, gains on investments and fair value losses totally
Operating Revenue consists of Raw Water Sales, Industrial Water Sales, and Wastewater Treatment Services. 2 Other Utilities Revenue consists of Excessive Charge and Service Fees for Wastewater Management 3
local and international customers. • Utilities income decreased by 4.5%, standing at THB 534.0 mm, mainly from lower excessive charge. However, if excluding the revenue from excessive charge, utilities
Utilities Business consists of Excessive Charge for additional Utilities demand and Service Fees for Wastewater Management. 3 Gross Profit from Operation excludes Other Income from Utilities Business. 4 Other
reduce a redundant works and increase of work efficiency by integrating human resources and operation processes with subsidiary companies such as ACS Servicing (Thailand) Co., Ltd, AEON Insurance Service
Accounting functions (“FASSC”) to reduce a redundant works and increase efficiency by integrating human resources and operation processes of our subsidiaries and affiliated companies such as ACS Servicing
Excessive Charge, Service Fees for Wastewater Management 3 Gross Profit from Operation excludes Other Revenue from Utilities Business. 4 Other Incomes mainly consists of Interest Income from Loans to GHECO
Profit Margin9 8.4% 51.9% 1 Operating Revenue consists of Raw Water Sales, Industrial Water Sales, and Wastewater Treatment Services. 2 Other Utilities Revenue consists of Excessive Charge and Service Fees