to thank all stakeholders, including shareholders, suppliers, customers and other related parties, who have always trusted and supported the Company. We also thank all the dedicated and hardworking

indebted, at any time, as a result of borrowing money for purchasing securities or borrowing securities for making a short sale, taking into account the suitability of such client. In cases where the client

Wong Wan Rd, Ladyaow, Chatuchak, Bangkok 10900 THAILAND; Tel.: +66 2 942 8777; E-mail: sarayut.r@ku.ac.th * I have been greatly indebted to Gilad Livne and Joanna Horton for their time and suggestions. I