, SET HD TRI = 10 Total expense ratio (%) Through the analysis on each fund style, the closet index fund is the worst performer in long term, as well as being the most expensive fees. Closet Index Factor

Dried fruits business as a better performer, EBITDA for quarter 1/2020 of 17.19 million Baht, an increase of 170% and 224% from the same period last year and the previous quarter, respectively. 3

that select Big 4 auditors are firms that have higher reporting quality. As a result, without auditor factors, these firms innate fewer mistakes that require audit adjustments. For auditor factor

20T H ANNIVERSARY 1 Securities and Exchange Commission, Thailand Annual Report 2012 SEC ANNUAL REPORT 20122 THE YEAR OF CHANGE The year 2012 was the time for change to become the visionary partner whose balance between proactive and preventive approaches has led to stakeholders’ confidence in the Thai capital market. THE YEAR OF CHANGE 20T H ANNIVERSARY 1 02 MESSAGE FROM THE CHAiRMAN 04 MESSAGE FROM THE SECRETARY-GENERAl 06 SEC BOARd 09 CApiTAl MARkET SupERviSORY BOARd 12 ExECuTivE OFFiCERS 13 O...