SET News 59/2016

July 26, 2016

Thai bourse scores top liquidity and returns in ASEAN, expects robust IPOs in H2 BANGKOK, July 26, 2016 – The Stock Exchange of Thailand (SET) has revealed its achievements in the first half with the returns and liquidity reaching number one in ASEAN. Despite the global market volatility, foreign investors bought net in Thai stocks at THB 35.98 billion (USD 1.02 billion), considered highest in ASEAN. SET also forecast a robust initial public offering (IPO) in the second half and plan to introduce “sSET Index” which represents the price movement of the mid and small common stocks as well as “TFEX Gold-D,” an electronic gold futures trading with physical delivery. On top of this, SET will launch new website to create social impact synergy connecting business and society. SET President Kesara Manchusree stated that SET’s remarkable success showcased many aspects in H1 covering (1) SET Index rose to 1,444.99 points with 12.2 percent growth year-to-date, or 15.2 percent growth (in USD-term), highest growth in ASEAN. (2) Foreign investors have become net buyers in Thai stocks, compared to 2015. They bought net in Thai stocks in H1 at THB 35.98 billion (USD 1.02 billion), considered highest in ASEAN, and their inflows tended to continue. (3) SET has maintained its position as the most liquid market in the region with the average daily trading value at THB 46.67 billion (approx. USD 1.33 billion), the highest in ASEAN since 2012, while the combined market capitalization of SET and Market for Alternative Investment (mai) was at THB 14.1 trillion (USD 400.57 billion), a 12.1 percent increase from the end of last year, underpinned by improved performance of Thai listed firms compared to peers in the region as well as the strong GDP growth in the first quarter hitting a three-year high at 3.2 percent, beating 2015’s at 2.8 percent. The Thai bourse aims to boost 2016 market capitalization by THB 525 billion stemming from IPOs and fundraising of existing listed companies. In H1, the market cap was increased by THB 152 billion. SET also expects H2 will be drew more newly listed companies as there is a number of firms filing their IPO plans to the stock regulator and to be listed in H2. In addition, SET has launched the start-ups web portal (http:new.set.or.th) in H1, which connects start-ups with investors for fundraising purpose together with government agencies and other start-ups, enable them to exchange information, knowhow, etc. more effectively. In H2, SET will also introduce “sSET Index” which represents the price movement of the common stocks meeting the set criteria apart from the existing “SET50” and “SET100” indices. The “sSET Index” is scheduled to officially launch by the beginning of 2017. Moreover, three Thai stocks were added to MSCI Thailand Standard Index in H1. As such the total number of Thai listed companies in the indices has now reached 32, highest addition in ASEAN. Recently, 30 Thai listed companies have been selected into the FTSE4Good ASEAN 5 Index, out of total 78 companies in ASEAN, considered the highest number addition in ASEAN. The index’s constituents have been selected and screened in accordance with transparent and environmental, social and governance criteria. In addition, SET will also announce the "Thailand Sustainable Investment" (THSI) list of Thai listed companies with prime performance on ESG aspects in the fourth quarter for second consecutive year, selected from 87 listed firms entering the assessment this year. THSI will be used as quality investment information and decision-making tools for investors In H1, the derivatives average daily trading volume rose from year-to-date by 16.5 percent to 232,798 contracts. Thailand Futures Exchange (TFEX) has already launched the

“RSS3 Futures” and “RSS3D Futures” rubber futures products to serve a variety of investment demands in the market. After appointing three market makers for stock futures and signing a Memorandum of Understanding (MOU) with The Tokyo Commodity Exchange

(TOCOM) to establish a cooperative relationship between the two exchanges, TFEX is planning to roll out “TFEX Gold-CD,” an electronic gold futures trading with physical delivery in the second half. SET has intensively expanded domestic investor base to 1.3 million, 42,587 of new investors were from equity traders, while 5,419 were derivative traders, considerably owing to collaborative synergy with securities firms and commercial banks companies to organize activities in Bangkok and the region, together with new campaign “Invest Now,” to attract retail investors nationwide by using financial technology tool to equip them with knowledge, keeping pace with the digital lifestyle. The Thai bourse is committed to promoting financial and investment education and will continue to expand investment knowledge nationwide via educational projects called “Investor Classroom” and “Ngern Thong Tong Wang Phan” (Money matters need planning), having reached more than 18,000 target groups so far this year. SET also promotes online education successfully reaching over 1.83 million views across the country in the first half of this year. In addition, INVESTORY, the first investment discovery museum in Thailand with digital multi-media learning launched earlier this year, has welcomed more than 22,000 students and general public. SET has also offered a complete range of investment knowledge to more than 1,800 entrepreneurs, start-ups, and capital market professionals through intensive seminars. To strengthen domestic institutional investors, SET, the Securities and Exchange Commission (the SEC), and alliances in the mutual fund industry consisting of asset management companies, securities firms, commercial banks have joined forces to establish a fund service platform. This platform has operational standards to help broaden distribution of mutual fund products, facilitating investor access to financial services that match their needs while enhancing the capital market’s competitiveness. As for the long-term investor base expansion, SET will further promote provident fund investment for employees' financial sustainability via the popular "Employee's Choice", aiming to enhance financial planning knowledge for happy retirement among employees who have mutual funds or provident funds to help them achieve financial goals in the long run. To truly build infrastructure for the capital market towards international standards, Thailand Clearing House Co., Ltd. (TCH), a SET subsidiary, has upgraded the risk management measures for the clearing and settlement system, including the securities depository in accordance with the new foreign regulatory standards of the Principle for Financial Market Infrastructure (PFMI). Furthermore, SET has received ISO/IEC 27001:2013 for information security management system and ISO/IEC 20000 for information technology service management. SET has also implemented cutting-edge technology into the operation by launching digital IPO and e-tax services. In H2, SET will set up Digital Counter at Thailand Securities Depository Co., Ltd. (TSD) counter services to facilitate securities deposit, withdrawal and transaction transfer more conveniently. To strengthen sustainable development in the long run in accordance with the UN Sustainable Stock Exchanges Initiative (UN SSE Initiative), the SET's new environment-friendly head office complex was launched to showcasing world-class design and construction, certified by standards of the Leadership in Energy and Environmental Design (LEED) of the US Green Building Council (USGBC) at GOLD level. In the second half, SET plans to implement “Green Policy” or its sustainability framework for internal operation including procurement and purchasing, and information technology. SET will also introduce the new SET Social Impact website soon. This is considered the first time in Thailand to connect business and social sectors through technology to create social change.

Continuously raising its international profile, after hosting the General Assembly of the Asian and Oceanian Stock Exchanges Federation (AOSEF) in Bangkok, in H1, SET will jointly host two world-class events, reinforcing SET’s key role in the global arena and its internalization mission.The first event is the IR magazine Award, granting prestigious awards to recognize listed firms across the world that perform excellent jobs of investor relations, based on opinion survey among institutional investors. The second event is the Association of National Numbering Agencies (ANNA)’s annual general meeting of ANNA’s members, including depository agencies. In addition, SET will also host the World Federation of Exchanges General Assembly & Annual Meeting in 2017.

SET “The 5th

Decade of Sustainable Wealth for Thais”

Members of the media please contact the Media Relations Unit, Corporate Communications Dept.: Arada Kultawanich tel: +66 (0) 2009 9483 / Darawan Maleesri tel: +66 (0) 2009 9484 / Kanokwan Khemmalai tel: +66

(0) 2009 9478.

Thai bourse market report for Jun 2016 Jul 27, 2016

2

SET’s remarkable success showcased many aspects in H1 covering (1) SET Index rose to 1,444.99 points with 12.2 percent growth year-to-date, or 15.2 percent growth (in USD-term), highest growth in ASEAN. (2) Foreign investors have become net buyers in Thai stocks, compared to 2015. They bought net in Thai stocks in H1 at THB 35.98 billion (USD 1.02 billion), considered highest in ASEAN, and their inflows tended to continue. (3) SET has maintained its position as the most liquid market in the region with the average daily trading value at THB 46.67 billion (approx. USD 1.33 billion), the highest in ASEAN since 2012, while the combined market capitalization of SET and Market for Alternative Investment (mai) was at THB 14.1 trillion (USD 400.57 billion), a 12.1 percent increase from the end of last year.

3

Summary of major events in 1H/2016

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

1,100.00

1,150.00

1,200.00

1,250.00

1,300.00

1,350.00

1,400.00

1,450.00

1,500.00

1/4/2016 2/4/2016 3/4/2016 4/4/2016 5/4/2016 6/4/2016

Millio

ns

Total Value SET

Jan 2016 (SET index +1.0%) BOJ cut its policy interest rate to -0.1% for the first time in history

Feb 2016 (SET index +2.4%) Sign of more stimulus measures from ECB after poor GDP growth announced

Mar 2016 (SET index +5.7%) ECB cut its policy interest rate and increased QE to 80 billion Euro per month

Apr 2016 (SET index -0.2%) Crude oil price rose to 44 USD/barrel, up 37.5% (YTD)

May 2016 (SET index +1.4%) Thai Q1/16 GDP hitting a three-year high at 3.2%, beating market expectation of 2.8%

Jun 2016 (SET index +1.5%) Southeast Asia stocks rise as Brexit concerns dim

Commodities prices

0

50

100 Crude oil

300

400

500 Thai white rice

0

20

40 Sugar

500

1000

1500 Gold

0

50

100 TOCOM Rubber index

350

400

Tapioca

USD/barrel USD/metric ton cents/ pound

USD/metric ton

ทีม่า: Bloomberg

USD/ounce

4

Brexit impact

Research department

July 2016

Brexit impact to global financial market: How large is UK financial sectors?

Source: Bank of England

UK 43%

US 15%

Japan 6%

Others 36%

Foreign exchange market average daily turnover

Global foreign exchange turnover USD 5,068 billion/ day (Apr 2015)

Financial sectors share 9.7% of UK GDP in 2011

*The size of a banking system is often measured by the sum of assets held by banks. *2013 nominal GDP of US is USD 16,768 billion, Japan is USD 4,919 billion, Germany is USD 3,731 billion and UK is USD 2,680 billion.

Brexit impact to global capital market: Short term impact to stock markets.

80

85

90

95

100

105

110

31/5/2016 7/6/2016 14/6/2016 21/6/2016 28/6/2016

Philippines

Vietnam

Indonesia

Singapore

Malaysia

Thailand

80

85

90

95

100

105

110

31/5/2016 7/6/2016 14/6/2016 21/6/2016 28/6/2016

Taiwan

Hong Kong

Korea

China

Japan

80

85

90

95

100

105

110

31/5/2016 7/6/2016 14/6/2016 21/6/2016 28/6/2016

UK

USA

Germany

80

85

90

95

100

105

110

31/5/2016 7/6/2016 14/6/2016 21/6/2016 28/6/2016

MSCI EM

MSCI Asia Ex JP

MSCI World

MSCI Euro index

MSCI frontier merkets

Data as of July 4, 2016 Source: Bloomberg

Referendum

Referendum

Referendum

Referendum

Stock index change (rebased May 31,2016 = 100)

• UK GDP (USD 2,865 billion) is 5th largest of the world and the 2nd largest of Europe after Germany.

• 10th largest exporter with share 2.7% of world merchandise exports.

• 5th largest importer with share 3.6% of world merchandise imports.

• Thailand exports to UK 1.8% of total exports.

Brexit impact to real sector: Not much comparative to China slowdown.

• China GDP (USD 11,385 billion) is 2nd largest of the world.

• 1st largest exporter of the world with share 12.3% of world merchandise exports.

• 2nd largest importer of the world with share 10.3% of world merchandise imports.

• Thailand exports to China 10% of total exports.

Data as of 2015 Source: IMF, WTO, The Customs of Thailand

Agenda

• SET in the regional context

• Market developments: SET & mai

• Major events and developments in Thai and global capital markets

9

Net buy / sell Yearly 6 months Quarterly Monthly

2013 2014 2015 H2/15 H1/16 2/2015 1/2016 2/2016 2016

Apr May Jun THAILAND -6,204 -1,091 -4,372 -3,905 1,038 -211 543 495 -159 131 522 INDONESIA -1,808 3,766 -1,580 -1,892 984 -123 315 669 22 -17 664 PHILIPPINES 669 1,256 -1,194 -1,600 641 -663 76 564 -34 287 312 VIETNAM 270 136 100 -91 -79 179 -47 -31 -70 33 5 TAIWAN 9,117 13,190 3,384 -2,895 6,245 2,050 4,981 1,264 727 -2,081 2,617 INDIA 19,939 16,118 3,274 -2,910 2,956 184 534 1,742 585 383 771 KOREA 4,853 5,684 -3,580 -10,943 3,349 4,743 758 2,591 1,826 85 680

Source: Bloomberg Note: excludes mai

Foreign net trading value Unit: million USD, Data as of Jun 30, 2016

SET in the regional context

10

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

-35.7

36.0

-16.9

36.0

-7.4

18.4 17.6

-5.7

4.8 18.5

8.2 3.5 0.1 1.5 7.2

-75

-50

-25

0

25

50

Y201

4

Y201

5

Y201

6

H1/20

15

H1/20

16

Q2/15

Q1/16

Q2/16

Apr-1

6

May-1

6

Jun-

16

30 M

ay -

3 Ju

n 16

6 - 1

0 Ju

n 16

13 -

17 Ju

n 16

20 -

24 Ju

n 16

27 -

30 Ju

n 16

29.7

-71.8

17.9 -29.8

17.9 -20.3 -9.7

27.6 4.9 -5.8

28.6 1.4

14.2 0.0 -0.9

13.8

-53.9

-40.4

131.5

-23.3

131.5

-15.4

102.8

28.7

-23.8

9.2

43.3

-0.6

37.0

-6.3 -10.1

23.4 32.48

34.25 35.48

33.72

35.48 33.27

35.67 35.29 35.10 35.45 35.31 35.68 35.25 35.24 35.26 35.27

25

27

29

31

33

35

37

-120 -100 -80 -60 -40 -20

0 20 40 60 80

100 120 140

Y2014 Y2015 Y2016 Q2/15 Q1/16 Q2/16 Apr-16 May-16 Jun-16

Depreciate

Foreign investors’ net trading value in bond and equity markets*

Sources: SETSMART, Thai BMA and BOT Note: *SET and mai SET mai and ThaiBMA data as of Jun 30, 2016

Exchange rate at end period (THB/USD)

11

SET in the regional context Unit: trading value (billion THB); exchange rate (THB/USD)

Appreciate

Government bond (LB+TB) Central bank bond (CB) Equity

15%

15%

26%

17%

17%

10%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

ม.ค. - ก.ย. 2553

Average exchange rate (Y

TD)

-155.6

End of year Exchange Rate

2013 32.35

2014 32.91

2015 36.01

2016 (YTD) 35.30

12

Source: Bloomberg; * MSCI EM = MSCI Emerging Markets Index

-4.4

-17.6

-5.2

5.4 3.5 2.7 1.4 6.2 5.0 10.1 14.9 11.7 15.2

-18.2 -15.5 -5.1 -2.3 -1.5

0.5 3.4 3.9 5.0 9.2 9.2 12.1 12.2

Japan China Hong Kong Malaysia Singapore Korea India Taiwan MSCI EM Vietnam Indonesia Philippines Thailand

USD Local currency

Stock index change (%YTD) Unit: percent; (end of Dec 2015 – Jun 30, 2016)

SET in the regional context

-3.1

2.5

-1.6

0.0 0.6 3.2 2.7 4.7 3.9 2.6 3.3

8.2 4.5

-9.6

-0.7 -0.5 -0.1

1.2 1.5 1.5 1.7 1.8 2.2 3.3 4.6 5.3

Japan Korea China Hong Kong India Thailand Taiwan Malaysia Singapore Vietnam MSCI EM Indonesia Philippines

USD Local currency

Stock index change (%MTD) Unit: percent; (end of May 2016 – Jun 30, 2016)

Source: Bloomberg

Stock index movement (in local currency)

Data as of Jun 30, 2016; rebased end-2015 = 100

80

90

100

110

120

31 D

ec 1

5

31 Ja

n 16

29 F

eb 1

6

31 M

ar 1

6

30 A

pr 1

6

31 M

ay 1

6

30 Ju

n 16

Thailand

Philippines

Vietnam

Indonesia

Singapore

Malaysia 80

90

100

110

120

31 D

ec 1

5

31 Ja

n 16

29 F

eb 1

6

31 M

ar 1

6

30 A

pr 1

6

31 M

ay 1

6

30 Ju

n 16

Thailand

MSCI Emerging Markets Index

MSCI Asia ex Japan Index

MSCI Frontier Markets index

MSCI World Index

SET in the regional context

13

19.88

17.06

16.06

15.72

13.85

13.79

13.22

12.65

11.52

15.37

32.05

18.87

13.35

16.04

15.17

14.86

12.64

13.42

11.41

10.99

15.36

19.03

19.91

13.43

16.34

16.20

15.08

12.93

13.70

11.46

10.96

15.62

19.03

Philippines China Malaysia Indonesia Vietnam Singapore Taiwan Hong Kong Korea SET mai

As of Jun 30, 2015 As of May 31, 2016 As of Jun 30, 2016

25.48

21.44

20.40

17.52

17.49

14.95

14.24

12.02

11.77

20.10

62.77

24.82

21.81

16.07

16.69

18.15

11.73

15.14

13.63

10.44

21.55

62.57

26.86

22.97

16.14

16.58

18.21

11.94

15.36

13.74

10.32

21.96

62.11

Indonesia Philippines China Korea Malaysia Singapore Taiwan Vietnam Hong Kong SET mai As of Jun 30, 2015 As of May 31, 2016 As of Jun 30, 2016

Unit: times Forward P/E of Thailand and regional comparisons

Source: Bloomberg (data as of Jun 30, 2016), (*Historical P/E of SET and mai from SETSMART) Forward P/E Ratio : The measure of the price-to-earning ratio (P/E) using forecasted earnings for the next 12 months from analyst consensus in Bloomberg data base. Historical P/E Ratio: The measure of the price-to-earning ratio( P/E) using trailing 12 months earning in the calculation.

Average of 9 countries As of Jun 30, 2016 is 16.90 times

14

SET in the regional context

Unit: times Historical P/E of Thailand and regional comparisons

Average of 9 countries As of Jun 30, 2016 is 14.45 times

3.89

3.40

3.35

3.28

3.13

2.08

1.80

1.56

1.26

2.98

1.00

3.69 4.0

4

3.92

3.17

4.10

1.99

1.80 2.1

3

1.69

3.34

1.39

3.71 3.9

6

3.98

3.09

3.94

1.96

1.71 2.0

7

1.66

3.30

1.39

Vietnam Singapore Taiwan Malaysia Hong Kong Indonesia Philippines China Korea SET mai As of Jun 30, 2015 As of May 31, 2016 As of Jun 30, 2016

Source: Bloomberg (data as of Jun 30, 2016) Market dividend yield : Previous 12-month dividend value divided by market capitalization at the end of the month.

Market Dividend Yield Unit: percent

Average of 9 Countries as of Jun 30, 2016 is 2.90%

15

SET in the regional context

74.7

82.7

30.1 35.1 28.4 23.7 21.1 21.2

14.3 15.3

2012 2013 2014 2015 2016 Jan 16

Feb 16

Mar 16

Apr 16

May 16

Jun 16

Thailand Singapore Malaysia

Indonesia Philippines

1,187.6 1,255.1

813.1 758.7

468.5 393.3 326.8 328.9

148.2 163.1

2012 2013 2014 2015 2016 Jan 16

Feb 16

Mar 16

Apr 16

May 16

Jun 16

Thailand Singapore Malaysia Indonesia Philippines

16

Share turnover velocity** (2012 - Jun 2016) Unit: percent

Average daily turnover* (2012 - Jun 2016)

Unit: million USD

SET in the regional context

Source: World Federation of Exchanges (WFE). * Average daily turnover calculates by trading value / number of business days ** The turnover velocity is the ratio between the Electronic Order Book (EOB) turnover of domestic shares and their market capitalization. The value is annualized by multiplying the monthly average by 12.

Source: World Federation of Exchanges (WFE). Thailand information presented only SET. * Bombay SE

17

5,963

1,902 904 902 763 644 529 264

India*

Hong

Kon

g

Malay

sia

Taiw

an

Sing

apor

e

Thail

and

Indon

esia

Philip

pines

2,973

1,521

790 666 412 410 401 282

Hong

Kon

g

India*

Taiw

an

Sing

apor

e

Malay

sia

Indon

esia

Thail

and

Philip

pines

Domestic Market Capitalization Unit: billion USD; data as of end-Jun 2016 (...%) Percentage change (MoM); May 2016 – Jun 2016

Number of Listed Companies Unit: companies; data as of end-Jun 2016 (…) Change (MoM); May 2016 - Jun 2016

SET in the regional context

v (-0.2%) (2.8%) (2.5%) (5.9%) (+14) (+3) (+1) (-3) (2.8%) (3.3%) (6.5%) (0) (0) (0) (MoM) (9.6%) (+4)

Source: World Federation of Exchanges (WFE). * Bombay SE 18

-6.70%

0.30% 4.00% 6.00% 7.60%

14.80% 16.00% 18.00%

-6.6%

2.5%

-0.7%

4.2% 1.0%

12.0%

5.7% 6.4%

Hong Kong India* Singapore Taiwan Malaysia Thailand Indonesia Philippines

Domestic Market Capitalization (%YTD)

SET in the regional context

Unit: percent; (end of Dec 2015 - Jun 30, 2016)

-0.20%

2.50% 2.80% 2.80% 3.30% 5.90% 6.50%

9.60%

-0.30%

1.50% 0.50% 3.60%

1.50%

6.40% 4.40% 5.70%

Hong Kong Taiwan Singapore India* Thailand Philippines Malaysia Indonesia

Domestic Market Capitalization (%MoM) Unit: percent; (end of May 2016 - Jun 30, 2016)

%YTD Weight Mkt cap.2013 2014 2015 Apr 16 May 16 Jun 16 Jun 16 Jun 16

SET -6.7 15.3 -14.0 1.2 1.4 1.5 12.2 100%SET50 -6.6 13.3 -18.7 0.3 2.2 -0.1 11.9 64%

Resource -10.4 -2.3 -20.7 6.9 0.1 3.3 22.9 17%Agro & Food -12.2 8.7 -13.2 3.6 7.6 2.6 21.8 7%

Industrial -5.4 -14.3 -9.7 5.2 1.4 -2.9 16.7 5%Service -1.2 22.8 2.9 2.1 0.9 3.1 14.8 25%

Financial -11.9 27.9 -22.3 -3.0 1.9 -0.1 7.6 17%Technology 6.0 22.0 -34.5 -8.2 2.5 -2.0 5.6 10%Property -8.7 18.8 -0.9 2.9 0.0 1.9 4.6 18%

Consumption -6.7 40.9 -18.3 -0.1 -1.7 0.6 0.0 1%

%YoY %MTD

Source: SETSMART

SET index classified by industry

SET index classified by industry Unit: percent

Market developments: SET & mai

(Data as of Jun 30, 2016; rebased end-2015 = 100)

19

80

100

120

140

30 Dec 15 30 Jan 16 29 Feb 16 31 Mar 16 30 Apr 16 31 May 16 30 Jun 16

RESOURC AGRO INDUS SERVICE SET SET50 FINCIAL TECH PROPCON CONSUMP

13,85

6,283

12,28

2,755

13,79

2,013

14,14

3,606

13,58

0,667

13,06

4,342

12,76

1,158

13,22

3,220

12,70

5,485

12,28

2,755

12,41

5,021

12,71

5,608

13,40

7,065

13,37

4,797

13,56

6,118

13,79

2,013

1,498 1,288

1,445 1,505 1,440 1,382 1,349 1,395 1,339 1,288 1,301 1,332 1,408 1,405 1,424 1,445

0

500

1,000

1,500

2,000

0

5,000,000

10,000,000

15,000,000

20,000,000

2014

2015

2016

June

15

July1

5

Aug1

5

Sep1

5

Oct15

Nov 1

5

Dec 1

5

Jan

16

Feb

16

Mar 1

6

Apr 1

6

May 1

6

Jun

16

383,0

75

323,4

78

337,0

10

401,3

29

369,8

65

340,7

92

346,3

16

358,4

90

344,1

92

323,4

78

314,6

34

310,6

52

326,1

23

331,5

09

330,5

31

337,0

10

700

523 527

657 595 560 574

593 556 523 509 500

518 525 524 527

0 100 200 300 400 500 600 700 800

0

100,000

200,000

300,000

400,000

500,000

2014

2015

2016

June

15

July1

5

Aug1

5

Sep1

5

Oct15

Nov1

5

Dec1

5

Jan

16

Feb

16

Mar 1

6

Apr 1

6

May 1

6

Jun

16

+12.29%

SET Market capitalization and SET index Unit: Market cap.(million THB) (LHS); Index (RHS)

mai Market capitalization and mai index

Source: SETSMART, data as of Jun 30, 2016. 20

Market developments: SET & mai

+4.18%

Unit: Market cap.(million THB) (LHS); Index (RHS)

2016 (YTD)

SET Market Cap. Index

High13,792,013

(30 Jun 16)

1,445.54

(8 Jun 16)

Low11,682,586

(7 Jan 16)

1,224.83

(7 Jan 16)

Average 12,994,656

2016 (YTD)

mai Market Cap. Index

High 337,010

(30 Jun 16)

531.93

(27 Apr 16)

Low 303,340

(7 Jan 16)

490.09

(7 Jan 16)

Average 322,364

3,161 1,623 2,762

1,371 1,902 1,654 1,875 2,116

522.62 527.35 656.80

518.4 527.35 524.89 524.17 527.35

0 100 200 300 400 500 600 700 800

0 2,000 4,000 6,000 8,000

10,000 12,000 14,000

2015

2016

(Y

TD)

Q2/20

15

Q1/20

16

Q2/20

16

Apr 1

6

May 1

6

Jun

16

41,141 45,045 37,797

45,168 44,910 42,054 43,125

48,576

1,288.02 1,444.99 1,504.55

1,407.70 1,444.99

1,404.61 1,424.28 1,444.99

0

400

800

1,200

1,600

2,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

2015

2016

(Y

TD)

Q2/20

15

Q1/20

16

Q2/20

16

Apr 1

6

May 1

6

Jun

16

SET average daily trading value and SET Index

(THB million)

2015

2016 (YTD)

H1/2015 H1/2016 Q2/2015 Q1/2016 Q2/2016 Feb 16 Mar 16 Apr 16 May 16 Jun 16

Average daily trading value (SET and mai) % YOY

44,302 -2.56%

46,669 -2.16%

47,698 33.97%

46,669 -2.16%

40,559 -0.19%

46,540 -14.40%

46,812 15.42%

41,802 -29.75%

52,560 8.14%

43,707 2.98%

45,000 -16.65%

50,693 24.73%

Source: SETSMART

Average daily trading value SET Index at the end of period

mai average daily trading value and mai Index

Average daily trading value mai Index at the end of period

21

Unit: Trading value (million THB (LHS); Index (RHS) Unit: Trading value (million THB) (LHS); Index (RHS)

Market developments: SET & mai

26,232 25,076 22,317 24,687 25,505 23,650 22,359 27,613 23,241 23,542 28,861

9,834 11,758 9,992 11,828 11,681 10,772 10,515 13,888

11,346 12,595 11,192 4,159 4,754

4,307 4,731 4,779 4,974 4,058

5,105 4,468 4,316

5,398 4,077 5,081 3,944 5,294 4,846 4,959 4,869 5,953

4,652 4,546 5,242

22

59.21% 53.73% 55.02% 53.05% 54.48% 53.32% 53.49% 52.54% 53.17% 52.32% 56.93%

22.20% 25.20% 24.64% 25.42% 24.95% 24.29% 25.16% 26.42% 25.96% 27.99% 22.08% 9.39% 10.19% 10.62% 10.17% 10.21% 11.21% 9.71% 9.71% 10.22% 9.59% 10.65% 9.20% 10.89% 9.72% 11.37% 10.35% 11.18% 11.65% 11.33% 10.64% 10.10% 10.34%

2015 2016 (YTD)

Q2/2015 Q1/2016 Q2/2016 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16

Local Investors Foreign Investors Local Institutions Proprietary Trading

Average daily trading value and trading proportion classified by investor types

Unit: million THB

Unit: percent

44,302 46,669 40,560 46,540 Average daily trading value 46,812 44,355

Source: SETSMART

Market developments: SET & mai

41,802 52,560 43,707 45,000 50,693

Unit: million THB, data as of June 30, 2016

-155,631

35,978

-7,352

18,398 17,580

-8,319

188 26,529

-5,701

4,805 18,476

2015 2016 (YTD)

Q2/2015 Q1/2016 Q2/2016 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16

Source: SETSMART 23

Market developments: SET & mai

-48,254

35,978

-4,219

16,495

Local Investors Foreign Investors Local Institutions Proprietary Trading

Unit: million THB, data as of June 30, 2016 Net trading position classified by investor type (YTD)

Net trading value of foreign investors

Proportion of trading value by sector Unit: percent

Source: SETSMART

Petrochemical Telecom

Energy

Property Food and Beverage

Others Bank

Construction Material

Market developments: SET & mai

44,302 46,540 40,559 Daily average trading value (Unit: million THB)

SET10 SET11-30 SET31-50 SET51-100

Non SET100

Proportion of trading value by market cap Unit: percent

46,812 46,669 43,707 45,000 50,693

Type % YoY

2015 2015 (YTD) 2016 (YTD) 2/2015 1/2016 2/2016 Apr 16 May 16 Jun 16

Initial Public Offering 130,611 79,869 10,551 -86.8 16,409 1,356 9,195 8,567 468 160

Secondary Offering 134,075 75,818 87,895 15.9 16,248 13,613 74,281 17 8,415 65,850

- Public Offering 2,070 70 0 -100.0 - - - - - -

- Private Placement 22,356 13,014 8,987 -30.9 3,478 8,263 724 - 314 410

- Convertible Bond 1,013 32 0 -100.0 - - - - - -

- Warrant 23,666 5,921 52,729 790.5 6,087 1,713 51,016 17 667 50,332

- Right Offering 84,969 56,780 26,178 -53.9 6,682 3,637 22,541 - 7,434 15,107

Grand Total 264,686 155,687 98,446 -36.8 32,656 14,969 83,476 8,584 8,883 66,010

Annually MonthlyQuarterly

Fund raising value June 2016 Accumulated 6 months fund raising value 2016 Unit: million THB Unit: million THB

Source: SET 25

Market developments: SET & mai 1 new IPOs: NETBAY Plc. (NETBAY) size 160 MB

Top raiser: True Corporation Plc. (TRUE) size 60,000 MB

Number of active investors and active rate* Unit: No. of accounts (LHS); % active rate (RHS)

Source: SET; Note: 1. 12-month average 2. December info * calculated by number of active accounts / total accounts; active account is account which trade at least once a month.

26

Market developments: SET & mai

284,576 311,907 305,534 317,663 319,995 286,660 286,108 295,040 286,113 266,906 262,002 302,221 286,189 305,768 330,045

28.0% 26.2% 25.7% 26.4% 26.3% 23.3% 23.1% 23.6% 23.0% 21.3% 20.8% 23.8% 22.4% 23.7% 25.4%

0%

10%

20%

30%

40%

0

200,000

400,000

600,000

800,000

2014 2015 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16

clients active rate

2015 2015 2016 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

Number of investors (accounts) 1,244,9072 1,190,016 1,203,384 1.215.706 1,230,569 1,241,101 1.252,031 1,244,907 1,255,178 1,259,885 1,271,142 1,278,884 1,289,698 1,301,988

% YoY of Number of accounts 13.3%2 20.7% 20.0% 19.2% 18.0% 16.6% 16.1% 13.3% 12.6% 11.1% 10.4% 10.0% 9.7% 9.4%

Trading Value / Accounts (Million baht)

2.86 2.79 2.56 2.85 3.03 3.17 2.72 2.81 3.32 3.19 4.00 2.60 2.65 3.38

% YoY of trading value / Accounts -11.1% -22.0% -19.5% -26.3% -10.2% -21.1% -3.7% -23.4% 1.9% -1.9% 37.3% 1.8% 11.1% 21.0%

1 1

Source: SET; Note: 1. monthly average value 2. calculated by average of monthly internet trading value / average of monthly total trading value Active internet investors is account which trade at least once a month.

27

Market developments: SET & mai

193,680 224,726 219,078 228,995 230,301 206,059 204,976 212,926 204,063 188,620 185,947 215,201 204,427 215,112 237,887

20% 16% 10% 5% 10% -12% -13% -14% -17% -23% -30% -16% -5% 3% 9% -100% 0% 100% 200% 300%

0 100,000 200,000 300,000

2014 2015 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16

345,626 339,746 308,172 300,523 346,255 339,198 352,799 307,289 284,933 302,406 289,088 410,196

248,976 272,660 391,807

6% -2% -18% -27% -10% -39% -23% -44% -36% -36% -43% 10% -2% 18% 27% -200% -100% 0% 100% 200% 300%

0 200,000 400,000 600,000

2014 2015 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16

Number of active internet investor’s account

% Internet trading value 20142 20152 Jun 15 Jul 15 Aug15 Sep15 Oct15 Nov15 Dec15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16 Comparing with total trading value (%) 37.2 37.9 36.1 37.0 38.0 39.1 38.9 38.2 34.2 34.1 34.6 33.9 33.5 33.7 35.1 Comparing with trading value of local investors, excludes local institution (%)

59.8 64.0 61.7 64.2 66.5 65.4 65.2 66.5 61.5 63.9 64.6 64.6 63.0 64.3 61.7

Unit: No. of accounts (LHS); %YoY (RHS)

1 1

Internet Trading Value Unit: million THB (LHS); %YoY (RHS)

1 1

Fund type2014 2015 Mar 16 Apr 16 May 16 Jun 16

Equity Fund 957,952 979,386 1,022,825 1,027,749 1,041,250 1,057,738 8.0% 24.5%Fixed Income Fund 2,069,810 2,239,040 2,349,004 2,393,271 2,436,061 2,458,831 9.8% 56.9%Mixed Fund 101,696 115,564 127,266 127,355 129,718 135,061 16.9% 3.1%Property Fund 283,157 286,408 292,420 291,909 293,672 292,401 2.1% 6.8%Infrastructure fund 143,502 219,767 220,309 233,973 235,122 233,795 6.4% 5.4%Others 125,577 134,796 140,753 144,381 145,255 146,708 8.8% 3.4%Total 3,681,694 3,974,960 4,152,577 4,218,638 4,281,077 4,324,535 8.8% 100.0%

Domestic Equity Fund (Exclude Vayupak Fund) 525,187 519,973 542,793 536,431 541,262 546,247 5.1% 51.6%Vayupak Fund 321,555 233,207 270,518 277,639 278,372 289,285 24.0% 27.3%Foreign Equity Fund 111,210 226,206 209,514 213,679 221,615 222,206 -1.8% 21.0%Total 957,952 979,386 1,022,825 1,027,749 1,041,250 1,057,738 8.0% 100.0%

Long-Term Equity Fund (LTF) 267,368 277,313 290,755 288,871 292,065 293,573 5.9% 27.8%Retirement Mutual Fund - Equity (RMFEQ) 65,019 54,209 57,806 57,473 58,315 58,948 8.7% 5.6%Trigger Equity Fund n/a 20,610 18,910 18,311 18,298 16,737 -18.8% 1.6%Other Equity fund 304,009 394,047 384,837 385,454 394,199 399,195 1.3% 37.7%Vayupak Fund 321,555 233,207 270,518 277,639 278,372 289,285 24.0% 27.3%Total 957,952 979,386 1,022,825 1,027,749 1,041,250 1,057,738 8.0% 100.0%

Net asset valueEnd of year End of Month

%YTD % proportion

Equity fund classified by destination

Equity fund classified by special fund group

Source: Summation of Asset Size by Classification report, Association of Investment Management Companies

Asset under management

28

Market developments

Unit: million THB; as of Jun 30, 2016

Average daily trading contract classified by instruments Unit: contracts; Data as of Jun 30, 2016

2015 2016 (YTD)

%YOY3 Q1/16 Q2/16

%QOQ4 Feb 16 Mar 16 Apr 16 May 16 Jun 16 %MOM5

SET50 Index Futures1 110,142 129,310 17.40% 137,526 120,229 -12.58% 120,642 148,245 107,657 106,498 141,179 32.56%

SET50 Index Options 1,264 1,345 6.41% 1,333 1,358 1.88% 1,119 1,494 991 934 1,990 113.06%

Single Stock Futures 81,103 88,561 9.20% 71,124 107,834 51.61% 53,301 96,732 63,860 98,453 156,854 59.32%

50 Baht Gold Futures 546 711 30.22% 759 659 -13.18% 937 759 710 583 681 16.81%

10 Baht Gold Futures1 5,469 11,980 119.05% 12,233 11,699 -4.37% 14,820 13,624 11,690 9,906 13,173 32.98%

Interest Rate Futures1 - - n.a. - - n.a. - - - - - n.a.

Silver Futures1 - - n.a. - - n.a. - - - - - n.a. Brent Crude Oil Futures1 107 138 28.97% 151 122 -19.21% 188 129 147 120 105 -12.50% USD Futures1 1,118 752 -32.74% 959 524 -45.36% 862 647 408 557 584 4.85% Sector Index Futures1 - - n.a. - - n.a. - - - - - n.a. Agricultural Futures6 n.a. 1 n.a. 1 2 100.00% 3 - - 1 3 200.00%

All Products2 199,749 232,798 16.55% 224,087 242,426 8.18% 191,873 261,629 185,463 208,054 314,567 51.19%

Source: SETSMART

Note 1 Calculate from the total volume traded during that period, divided by the number of business days in that period. 2 Calculate by total trading volume of each instrument / number of business days of each instrument. 3 Calculated from the average daily trading volume of year 2015 with year 2016 (YTD). 4 Calculated from the average daily trading volume in Q2/2016 with Q1/2016. 5 Calculated from the average daily trading

volume in June 2016 compared with May 2016.

6 TFEX ready for first agricultural trading "RSS3 Futures" on Feb 15, 2016

Market developments: derivatives market

29

Source: Bloomberg - Golds comdty; TFEX – Gold Futres trading volume

Gold spot USD per troy ounces Volume (contracts)

Source: SETSMART

Dividend yield

32

As of Jun 30, 2016 Dividend yield (%)

SET

3.29

Mai

1.60

Max Mean Median Min

39.81 (JAS)

2.81 2.37 0 (116 Companies)

16.10 (JSP)

1.92 1.50 0 (16 Companies)

Dividend yield by companies (as of Jun 30, 2016)

Note: Dividend yield calculated from only cash dividend

Note: * = IPO stocks

33

• Trading value in mai market drops from 411,276 million baht in 1H/2015 to 187,957 million baht in 1H/2016 (down 54.3%). Trading value decreases across the stocks in mai market (93 of 124 listed companies), while trading value gains mostly from new IPO stocks.

Trading Value in mai market

-30,000

-25,000

-20,000

-15,000

-10,000

-5,000

0

5,000

10,000

15,000

Millio

ns diff trading value between 1H/2015 and 1H/2016

Trading Value

Top gain Million Baht Top loss Million Baht

RP* 8,428.64 UPA -26,606.64

NETBAY* 7,425.99 ABICO -17,686.42

QTC 5,364.65 TPCH -15,604.86

GTB* 5,058.86 NDR -14,399.83

TNH 4,365.52 PSTC -9,764.48

TACC 4,269.39 TSE -9,143.05

BM* 4,003.66 IRCP -8,848.04

CHEWA* 3,731.66 EA -8,343.21

TNP* 3,152.15 FPI -7,049.97

ACAP 2,345.60 KIAT -6,707.87

Source: SETSMART

Trading value drops 93 of 124 stocks

Trading value up 31 of 124 stocks

34

What happened after “Brexit” Southeast Asia stocks rise as Brexit concerns dim.

ทีม่า: Bloomberg

1,000

1,300

1,600 Thailand

2,500

2,800

3,100 Singapore

1,400

1,700

2,000 Malaysia

2,000

3,000

4,000 China

14,000

17,000

20,000 Japan

1,600

1,900

2,200 Korea

SET index STI index BMKCL index

KOSPI index SHCOMP index NKY index

Appendix 1 Market Statistics

As end of May 2016 2013 2014 2015 2016 Q1/2015 Q2/2015 Q1/2016 Q2/2016 Jan 2016 Feb 2016 Mar 2016 Apr 2016 May 2016 Jun 2016

SET

SET Index 1,298.71 1,497.67 1,288.02 1,444.99 1,505.94 1,504.55 1,407.70 1,444.99 1,285.30 1,332.37 1,407.70 1,404.61 1,424.28 1,444.99

Market Dividend Yield (%) 3.24 2.94 3.36 3.29 2.89 2.91 3.38 3.29 3.37 3.47 3.38 3.38 3.35 3.29

Market P/E Ratio 1/ 14.60 17.81 22.57 21.96 20.85 20.10 20.65 21.96 22.85 19.25 20.65 20.76 21.55 21.96

Market P/BV 2.02 2.13 1.74 1.86 2.11 2.04 1.84 1.86 1.75 1.75 1.84 1.84 1.83 1.86

Total Turnover Value (M.Baht) 11,777,210.10 10,193,179.07 9,997,371.76 5,405,450.36 3,010,069.57 2,154,434.86 2,845,608.18 2,559,842.18 862,499.56 807,013.73 1,176,094.89 714,910.88 776,252.02 1,068,679.28

Daily Turnover Value (M.Baht) 48,070.25 41,604.81 41,141.45 45,045.42 49,345.40 37,797.10 45,168.38 44,909.51 43,124.98 40,350.69 51,134.56 42,053.58 43,125.11 48,576.33

Number of Listed Securities 1,141 1,592 1,646 1,781 1,626 1,668 1,709 1,781 1,730 1,684 1,709 1,675 1,729 1,781

Newly Listed Companies 14 17 22 1 5 3 1 - - - 1 - - -

Raising value of New Listed Securities (M.Baht) 2/ 148,989.43 203,447.10 179,880.20 12,468.00 36,958.00 44,867.60 4,320.00 8,148.00 - - 4,320.00 8,148.00 - -

Total value of Newly Listed Securities (M.Baht) 3/ 31,044.88 43,557.00 35,306.59 9,228.00 8,899.22 10,828.86 1,080.00 8,148.00 - - 1,080.00 8,148.00 - -

Delisted Listed Companies - 7 9 2 1 1 1 1 - - 1 - - 1

No. of Companies moved from mai to SET 2 4 3 - 1 - - - - - - - - -

No. of Companies moved from SET to mai 1 1 1 - 1 - - - - - - - - -

Total Capitalization (M.Baht) 11,496,765.17 13,856,283.31 12,282,755 13,792,012.97 14,116,111.30 14,143,605.59 13,407,064.75 13,792,013 12,415,021 12,715,608.03 13,407,064.75 13,374,796.51 13,566,117.87 13,792,012.97

mai

mai Index 356.80 700.05 522.62 527.35 671.10 656.80 518.40 527.35 508.77 498.06 518.40 524.89 524.17 527.35

Market Dividend Yield (%) 1.46 0.87 1.00 1.60 0.85 0.86 1.66 1.60 1.03 1.30 1.66 1.62 1.63 1.60

Market P/E Ratio 1/ 28.32 69.63 52.94 62.11 71.82 62.77 58.62 62.11 51.47 44.68 58.62 58.92 62.57 62.11

Market P/BV 2.69 5.64 3.29 3.19 4.78 4.30 3.18 3.19 3.20 3.05 3.18 3.25 3.14 3.19

Total Turnover Value (M.Baht) 553,458.70 946,111.84 768,097.73 194,808.88 306,448.89 157,421.68 86,387.58 108,421.30 24,594.80 29,017.50 32,775.28 28,115.60 33,745.03 46,560.67

Daily Turnover Value (M.Baht) 2,259.02 3,861.68 3,160.90 1,623.41 5,023.75 2,761.78 1,371.23 1,902.13 1,229.74 1,450.87 1,425.01 1,653.86 1,874.72 2,116.39 Daily Turnover Value (M.Baht) 2,259.02 3,861.68 3,160.90 1,623.41 5,023.75 2,761.78 1,371.23 1,902.13 1,229.74 1,450.87 1,425.01 1,653.86 1,874.72 2,116.39

Number of Listed Securities 127 150 166 175 152 160 167 175 168 166 167 168 169 175

Newly Listed Companies 15 20 13 5 2 2 1 4 - - 1 1 2 1

Raising value of New Listed Securities (M.Baht) 2/ 44,978.50 40,834.13 18,729.54 5,036.00 5,681 2,120 1,104.00 3,932.00 - - 1,104.00 1,200.00 1,932.00 800.00

Total value of Newly Listed Securities (M.Baht) 3/ 8,017.24 9,916.38 4,593.83 1,323.00 1,316 520 276.00 1,047.00 - - 276.00 419.00 468.00 160.00

Delisted Listed Companies - 1 - - - - - - - - - - - -

No. of Companies moved from mai to SET 2 4 3 - 1 - - - - - - - - -

No. of Companies moved from SET to mai 1 1 - - - - - - - - - - - -

Total Capitalization (M.Baht) 177,364.99 383,075.24 323,478.44 337,010.33 397,884.32 401,328.51 326,122.79 337,010.33 314,634.46 310,651.90 326,122.79 331,508.76 330,530.87 337,010.33

Appendix 1 Market Statistics

As end of May 2016 2013 2014 2015 2016 Q1/2015 Q2/2015 Q1/2016 Q2/2016 Jan 2016 Feb 2016 Mar 2016 Apr 2016 May 2016 Jun 2016

SET & mai

Trading value proportion separated by investor types 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Local Investors 57.12% 62.32% 59.21% 53.73% 64.18% 55.02% 53.05% 54.48% 53.32% 53.49% 52.54% 53.17% 52.32% 56.93%

Foreign Investors 21.74% 20.25% 22.20% 25.20% 19.12% 24.64% 25.42% 24.95% 24.32% 25.16% 26.42% 25.96% 27.99% 22.08%

Local Institutions 8.53% 8.76% 9.39% 10.19% 8.20% 10.62% 10.17% 10.21% 11.21% 9.71% 9.71% 10.22% 9.59% 10.65%

Proprietary Trading 12.61% 8.68% 9.20% 10.89% 8.50% 9.72% 11.37% 10.35% 11.18% 11.65% 11.33% 10.64% 10.10% 10.34%

Net Buying Position(M.Baht)

Local Investors 88,842.95 -37,515.19 79,895.83 48,254.31- 7,924.97 -18,815.21 -26,756.76 -21,497.55 -2,770.23 -1,200.08 -22,786.45 3,176.64 -12,550.57 -12,123.62

Foreign Investors -194,701.88 -33,695.94 -155,630.70 35,978.18 -9,556.54 -7,352.36 18,398.01 17,580.17 -8,319.22 187.70 26,529.53 -5,701.09 4,805.07 18,476.19

Local Institutions 107,601.56 69,609.76 82,133.01 4,219.30- 3,827.64 29,155.99 -6,296.77 2,077.47 8,080.23 -4,657.76 -9,719.24 2,946.34 5,601.01 -6,469.88

Proprietary Trading -1,742.63 3,601.35 -6,398.13 16,495.43 -2,196.07 -2,988.43 14,655.51 1,839.92 3,009.22 5,670.13 5,976.16 -421.89 2,144.49 117.31

Daily Turnover Value (M.Baht) 50,329.27 45,466.49 44,302.35 46,668.83 54,369.16 40,558.89 46,539.61 46,811.64 44,354.72 41,801.56 52,559.57 43,707.44 44,999.83 50,692.72

Total Capitalization (M.Baht) 11,674,130.16 14,239,358.55 12,606,233.14 14,129,023.30 14,513,995.62 14,544,934.10 13,733,187.54 14,129,023.30 12,729,655.17 13,026,259.93 13,733,187.54 13,706,305.27 13,896,648.74 14,129,023.30

Source: The Stock Exchange of Thailand

Note:

1/ Historical P/E which calculated from market price of common stock divided / earnign per share

2/ Calculated from IPO Price multiplies with number of listed shares

3/ Calculated from IPO Price multiplies with IPO shares