performance of Thai equity funds underperform the market total return benchmarks. Equal-weighted outperforms asset- weighted, thus smaller funds are more performing. Periods Annualized Returns % of Thailand

results: Non-distressed RTO firms outperforms control sample 23 Empirical results: Determinants of BHARs 24 Empirical results: Liquidity of RTO firms 25 Findings: Financial performance of RTOs (46 of 47

relative to the analyst's coverage universe which consists of all companies covered by the analyst within the relevant sector, with Outperforms representing the most attractiv e, Neutrals the less attractive

-Diesel B20S, which surpasses in quality from the normal B20 in the market. Whereas industrial market sales volume lowered slightly from the intense market competition. 2. Net marketing margin declined