Detecting Corporate’s Earnings Manipulation in Thailand Corporate Governance Attributes and Audit Report Timeliness: Mediating Role of Corporate Disclosure and Transparency and Moderating Role of

profit margin before finances expense and income taxes Aviation Refueling Services 79% Fuel Pipeline Transportation Services 21% Services Income structure of Q1/2018 Page 4 of 6 (EBIT margin) at 47.9

fees. Aviation Refueling Services 81% Fuel Pipeline Transportation Services 19% Services Income structure in 2019 Page 4 of 6 As a result, in 2019, the Group had expenses for cost of services and

totaled to Bt2,096.5 million, increasing by Bt88.0 million or 4.4%(y-o-y) and EBITDA margin was of 55.1%. Aviation Refueling Services 81% Fuel Pipeline Transportation Services 19% Services Income structure

% Services Income structure of 2018 Page 4 of 6 1.2.3 Finances Cost The financial expenses for 2018 amounted to Bt139.4 million, a decrease of Bt20.9 million or 13.0%(y-o-y). As the long- term loans of the

Income structure of Q1/2019 Page 4 of 6 of TARCO and NFPT Project of FPT will be capitalized in the projects' cost then would be amortized over the lifetime of the projects. 1.3 Operating Results Net

Quantitative methods in accounting research A String of Earnings Increases, Future Earnings Uncertainty, and Firm Fundamentals Sarayut Rueangsuwan Kasetsart University SEC Working Papers Forum 19th

developing new platforms, have significant effects on the company’s income structure especially advertising revenue. However, our company isn’t rely on only this particular income. There are other channels

new platforms, have significant effects on the company’s income structure revenue. However, our company isn’t rely on only this particular income. There are other channels, such as organizing seminars

79% Fuel Pipeline Transportation Services 21% Services Income structure in Q1/2020 Page 4 of 7 1.2.2 Administrative Expenses In Q1/2020, the Group had administrative expenses of Bt162. 1 million