Holding, causing damage to both companies. Additionally, Mr. Somchai, authorized to sign for money withdrawal on behalf of the company, misappropriated B30 million which had disappeared from SECC Holding’s

. Within 9 months the competitors gradually disappeared and the company gained 50% market share. In the part of mobile top-up market share, the company gained it from several channels especially ROM. As a

manufacturing activities of the major industries that disappeared during the epidemic situation and lockdown, with the sales of the automotive slump and with its higher margin product, being the most affected by

gross-of-fee level, it disappeared at net-of-fee level. • Jensen (1968) reaches conclusion that average actively managed mutual fund does not capture alpha, net of fees and expenses. • Chang and Lewellen

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4 percent compared to 4.2 percent in the previous year.The slowdown could be attributed to exports which contracted further due to the stronger Baht and a global economic slowdown. In addition, the investment environment of both the public and private sector remained weak, and private consumption, albeit gro...