speculative businesses. Debt to equity ratio should not excessively increase because volatile situations may affect cycle and amount of expected cashflow;           ? New business investment risk: it is not

Draft ASEAN Equity Disclosure Standards เอกสารรับฟงความคิดเห็น เร่ือง การเปดเผยขอมูลกรณีบริษัทตางประเทศ เขามาเสนอขายหุนในประเทศไทย สํานักงาน สํานักงานคณะกรรมการกํากับหลักทรัพยและตลาดหลกัทรัพย

partnership with    the CFA Institute and CFA Society Thailand in 2023 - to promote the integration of climate-related risk into equity analysis and investment decisions which will help to allocate the

asset ≥15 - 25 Mn.THB เงนิกองทนุสภาพคลอ่งสทุธ ิ(Net Capital – “NC”) คอื risk-adjusted liquid equity Major Factors • Investment risk • Business risk i.e. Underwriting / DR agent โครงสรา้งสตูรค านวณ NC 5

the shareholders’ equity. *** Position risk refers to the risk arising from changes in the prices of securities or underlying assets in a direction that results in potential loss for the business

sustainability in annual sustainability and progress reports. 10 Exemplary GESI practice in Thailand Internal organisational GESI Auditing, Risk or Diversity, Equity and Inclusion (DEI) committees, independent

&"# '"# $06 "# J0%0(.#'3/$6%3"$/)333 %0/ .' .( #II3+,R&!"#II 0) 1("0$S&K$1) '1 30. 3 variation 1 .. 54 29 margins * E /'".#0 0.# !#-!'( ). (0&" 2 : 3% # Position risk )!4) 1.3.3 #II# +("# (equity

. However, Return on Equity slightly declined from 14% to 13.7% due to lower debt and more reliance on internal operating fund. From the financial risk perspective, debt to equity ratio decreased from 0.5x to

% (corporate bond yield + country specific spread for Philippines) Cost of equity (re ) 15.2% 17.1% (preliminary cost of equity + country risk premium Philippines + size premium* + company specific risk premium

invests mainly in equities, the risk spectrum should point toward Equity Fund (level 6). In addition, if the fund adjusts the investment proportion significantly, the CIS Operator should revise the risk