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Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources believed to be reliable. However, such information has not been verified by XSpring Capital Public Company Limited. and the information contained on this site is provided on the basis that XSpring Capital Public Company Limited. does not make any representation as to its accuracy, completeness or currency nor that it is useful for a particular purpose, nor that it does not infringe on the intellectual property rights of any third party. XSpring Capital Public Company Limited. does not take responsibility for any loss occasioned by reliance placed upon the contents hereof (save for loss arising as a consequence of gross negligence or fraud) or any action arising in connection with the use, display or copying of any material on this site or its publication, including any action for copyright infringement or defamation. Any statements nonfactual in nature constitute only current opinions that are subject to change. XSpring Capital Public Company Limited. (or one of its affiliates) or its officers, directors, analysts or employees may have positions in securities or commodities referred to herein, and may, as principal or agent, buy and sell such securities or commodities. An employee, analyst, officer, or a director of XSpring Capital Public Company Limited. or its affiliates may serve as a director for companies mentioned in this report. Neither the information nor opinions expressed shall constitute an offer to sell or a solicitation of an offer to buy any securities or commodities mentioned herein. There may be instances when fundamental, technical and quantitative opinions may not be in concert. This firm (or one of its affiliates) may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any company mentioned in this report.

There are risks inherent in international investments that may make such investments unsuitable for certain clients. These include, for example, economic, political, currency exchange rate fluctuations, and limited availability of information on international securities. XSpring Capital Public Company Limited. and its affiliates make no representation that the companies which issue securities that are the subject of their research reports are in compliance with certain informational reporting requirements imposed by international Securities Exchange Acts in some countries. Sales of securities covered by this report may be made only in those jurisdictions where the security is qualified for sale. The contents of this publication have been approved for distribution by Seamico Securities Plc., which is regulated by the Securities and Exchange Commission of Thailand. You should obtain the advice of your Financial Advisor before acting on or using any information regarding investments.

You may not deal with any copyright, trade marks or other intellectual property rights in the material on this site except as permitted by XSpring Capital Public Company Limited. Permission is granted to display this site on your computer screen and to print in hard copy portions of this site to use the information and material on this site for your own use only, provided that you do not modify the material. Otherwise, you may not copy, adapt, distribute, republish, display or transmit any part of the information or material on this site without the prior permission of XSpring Capital Public Company Limited. To seek permission, contact the Webmaster (E-mail: [email protected] )

XSpring Capital Public Company Limited. does not warrant that this site nor the information or material on this site is free from any computer virus or any other defects or errors.

[Material on this site may contain links to other sites. XSpring Capital Public Company Limited. does not endorse, sponsor or approve of any information or material on such sites. XSpring Capital Public Company Limited. does not represent that information or material on such sites is accurate, complete or current, nor that it is useful for a particular purpose, nor that it does not infringe the intellectual property rights of any third party. XSpring Capital Public Company Limited. is not authorizing infringement of any intellectual property rights contained in material on such sites by linking to such sites].

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Use of this site and all information and material contained in this site is governed by the laws of Thailand. If you do not agree, please do not use this site.