2.3 Business Characteristics of each Service

The characteristics of each of the Company’s business are classified as
follows:

Securities Broker Business

Market share values of the Company for the past 3 years from 2009 to
2011 are shown in the table below:

Table of Market Share Value

+-----------------------------+------------+------------+--------------+
| Securities Trading Volume   | 2009       | 2010       | 2011         |
|                             |            |            |              |
|                             |            |            | (Jan-Oct)    |
+-----------------------------+------------+------------+--------------+
| SET (Million Baht)          | 4,428,979  | 7,033,947  | 10,837,059   |
+-----------------------------+------------+------------+--------------+
| US (Million Baht)           | 66,736     | 103,552    | 73,692       |
+-----------------------------+------------+------------+--------------+
| US Market share (%)         | 0.77%      | 0.84%      | 0.68%        |
+-----------------------------+------------+------------+--------------+

Source: SET Market Analysis and Reporting Tool (Setsmart)

Bill of Exchange Trading Line Approval Policy

In 2011, the Company stipulated the authorized persons and criteria for
bill of exchange trading account opening categorized by types of
customers both retail and juristic person customers.

Authorized persons for bill of exchange trading line

+----------------------------------+-----------------------------------+
| Trading line                     | Authorized person                 |
+----------------------------------+-----------------------------------+
| Not exceed 100 million Baht      | Senior Vice President – Fixed     |
|                                  | Income Department                 |
+----------------------------------+-----------------------------------+
| Not exceed 200 million Baht      | Managing Director                 |
+----------------------------------+-----------------------------------+
| Not exceed 400 million Baht      | Executive Committee               |
+----------------------------------+-----------------------------------+
| Over 400 million Baht            | Board of Director                 |
+----------------------------------+-----------------------------------+

Securities Dealing

The Company runs Securities Dealing business and the Executive Committee
was assigned to establish a policy and control the Company’s investment.
The Company has invested in securities for both equity and debt
instruments of the securities listed in the Stock Exchange of Thailand,
securities listed in the Market for Alternative Investment (MAI),
securities registered in the Thai Bond Market Association (ThaiBMA) and
non-registered securities such as the Bill of Exchange which was avaled
or guaranteed payment by commercial banks. However, due to the
fluctuation of the stock market, economic situation and instability of
politics, the Company has carefully rationalized in its investment.
However, the Company has not focused in equity instruments since 2005.
In 2012, the Company planned to expand the securities dealing of debt
instruments such as government bond, treasury bill and central bank
bond, etc. in order to increase volume of such business which has been
the main income since 25 October 2011.

Unit Trust Selling Agent

The Company is a unit trust selling agent for 15 asset management
companies in order to provide services for the investors who would like
to invest in unit trust so that they could have various alternatives of
such investment. Besides, this business could meet the investors’
requirements and be another channel of investment for the customers.