notice of nnual eneral meeting of embers calendar... · 2015-08-28 · i anantara siam bangkok...

55/6 Focus on Saladaeng Silom, Bangrak, Bangkok 10500 Tel: +66(0)2661-7898 ext 111 Fax: +66(0)2661-7899

http://www.cfasociety.org/thailand/

NOTICE OF ANNUAL GENERAL MEETING OF MEMBERS DATE: Tuesday, 29 September 2015 TIME: 6.00 p.m. PLACE: Anantara Siam Bangkok Hotel 155 Rajadamri Road, Bangkok 10330

PURPOSE: (1) To certify the minutes of 2014 AGM;

(2) To receive the Board’s report on the working of the Society during the fiscal year 2014-2015;

(3) To receive the Treasurer’s report and accounts of the Society for the fiscal year 2014-2015;

(4) To approve the audited statements for the fiscal year 2014-2015;

(5) To appoint an auditor for the year 2015-2016;

(6) To elect the Board of Directors and the Officers for the fiscal year 2015-2017; and

(7) To transact such other business as may properly come before the meeting. RECORD DATE: All Regular Members In Good Standing will be entitled to vote at the meeting and

any adjournment thereof. MAILING DATE: Each Regular Members In Good Standing is being mailed, on or about

Friday, 28 August 2015, this notice along with the following documents;

Voting Instructions President’s Report 2014-2015 AGM Agenda & Proxy Statement Appendix A: Volunteer Recognition Appendix B: Report on the working of the Society for 2014-2015 Appendix C: Audited Statements Proxy

For the CFA Society Thailand’s Board of Directors

Sutira Pitayametee, CFA Secretary

24th August 2015

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VOTING INSTRUCTIONS Your vote is important. Please cast your proxy by one of the two methods provided below. In order for the proxy to be cast by 1) Email, CFA Society Thailand must receive the ballot by 12.00 p.m. (noon), Monday 28 September 2015.

If you have any general questions about the proxy, please contact Andrew Stotz, CFA [email protected] Sutira Pitayametee, CFA [email protected]

1) Voting by Emailing Ballot Please use Proxy Form on Page 11. Mark your selections by placing an “X” in the appropriate box(es). You must sign and date your ballot, and specify your membership no. for your proxy to

be valid. Send the completed ballot to [email protected].

2) Voting by Paper Ballot @ AGM

Mark your selections by placing an “X” in the appropriate box(es). You must sign and date your ballot, and specify your membership no. for your proxy to

be valid. Hand in your ballot when you register at the AGM.

mailto:[email protected]

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PRESIDENT’S REPORT 2014 – 2015

Dear fellow members of the CFA Society Thailand:

On behalf of the 2014-2015 Board Members and Society leaders, I would like to report that CFA Society Thailand had yet another fruitful year. We have achieved a great deal in many different areas with regard to our new activities. One of the most important achievements has been to get a large number of new volunteers in the organization.

Our members numbers continue to grow steadily to 356 (351 charterholders and 5 non-charterholders).

Before I get into more detail of the year’s accomplishments I would like to remind you of the three major objectives that members have said they want from CFA Society Thailand:

Recognition – Recognized as a thought leader which has impact to shape and raise financial market standards;

Awareness – CFA members in Thailand are seen as ethical, educated and competent professionals with global perspectives;

Value – Regarded as a prestigious group of Thailand’s leading financial professionals that members are proud to join;

The most important development of the prior twelve months has been the activation of seven different teams of volunteers. We did something different this year by asking Charter Pending and Level 2 & 3 Candidates to volunteer with us. So this year we engaged a total of 51 volunteers on this project. Twelve of those volunteers were Charterholders, thirteen where Charter pending, nine were level 3 candidates and seventeen were level 2 candidates. These teams have had a total of 17 different meetings (either live or online) since our last AGM.

1. Future of Finance (FOF) Team – To start a public awareness campaign and run activities related to FOF

2. Asset Manager Code Team – Finished translation in Thai and now working on adoption in Thailand

3. Global Investment Performance Standards (GIPS) Team – Brainstorming ways to support adoption of GIPS in Thailand

4. Investor Relations/Analyst Team – To help management, IR, and analysts perform their roles with highest ethics

5. CFA Institute Research Challenge Team – To expand universities involved and improve the quality of teams

6. Courses Team – To manage all courses we offer and to expand our number of volunteer teachers

7. Event Management Team – To manage all events we offer and to find opportunities for new events

In addition, we have now set up what I call ‘informal representatives’ from most of the major firms and institutions in Thailand. Currently, we have one ‘informal representative’ from each organization: The KBANK Group (28), SCB (19), TISCO (13), BBL (11), Maybank (10), Phatra (9), UOB (9), Government Pension Fund (7), SEC (7), Social Security Office (5) and Bank of Thailand (4)(4). The only institutions we have not yet received final confirmation on are: KTB (15), CIMB (9), Krungsri (9), and MOF (2). (The numbers in parentheses denote the number of CFA charterholders in each organization.) My objective in the coming year is to communicate with this group to make sure we are getting their involvement in activities and getting their feedback to make sure we meet their needs.

Another initiative that I have started together with Mr.Teera Phutrakul, Chairman of the Thai Financial Planners Association was to reach out to other organizations about the CFA Institute’s Future of Finance initiative to see if there is a way that we could all work together to keep improving the financial environment in Thailand. We are at various stages of discussing this idea with the following organizations: Institute of Directors, Federation of Thai Capital Market Organizations, Association of Investment Management Companies, Investment Analysts Association, and Thai Investors Association.

VOLUNTEER RECOGNITION: My fellow Board Members and Society Leaders have once again relentlessly contributed their precious time to the CFA Society Thailand. The 2014-15 board is now being shuffled in order to make way for new volunteers.

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I would like to recognize our members, charter pending, and candidates who actively volunteered yourselves to CFA Society Thailand over the past year. Once again, I would like to dedicate a special section (Please refer to Appendix A: Volunteer Recognition) of this NOTICE OF THE AGM in recognition of our praiseworthy volunteers.

EVENTS: Appendix C highlights the activities by the CFA Society Thailand over the past twelve months.

For Member events: We had a big turnout for the 7th Annual Thailand Roundtable together with Asia Asset Management group and we will do the same in the next few months.

For Public Awareness & Advocacy, besides collaborating on various educational activities with the Stock Exchange of Thailand (SET), we have also been reaching out to the Securities & Exchange Commission (SEC) of Thailand to discuss the Asset Manager Code. Meanwhile we are working on expanding the number of universities participating in the CFA Institute Research Challenge in Thailand.

Furthermore, we have co-sponsored a publication of 'Career in Finance', written by one of our very own Board members, to promote awareness of the CFA Program and career choices in the finance industry. It was followed by a Career Talk, which turned out to be a very popular and successful event.

On the Candidates side, we continue to focus on raising the local candidates’ passing rates. As a result, our main activities in the past year were study group sessions where were led by our member volunteers.

2015 AGM

I look forward to seeing you at the 2015 AGM at Anantara Siam Bangkok Hotel (formerly Four Seasons) on 19 August 2015.

On behalf of the Board & Society Leaders,

Andrew Stotz, CFA President, CFA Society Thailand

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AGM AGENDA & PROXY STATEMENT

QUORUM

For business to be transacted at the Annual General Meeting of Members, ten percent (10%) of all Regular Members In Good Standing must be represented in person or by proxy.

VOTING

Each Regular Member In Good Standing shall be entitled to one (1) vote with respect to each matter considered at the meeting. A majority of the votes cast in person or by proxy at a meeting at which quorum is present shall be required for adoption of any matter voted upon.

1. TO CERTIFY OF THE MINUTES OF ANNUAL GENERAL MEETING HELD ON 27 AUGUST 2014

Background

At the Annual General Meeting (AGM) of Members held on Wednesday, 27 August 2014 at Renaissance Bangkok Ratchaprasong Hotel, Bangkok, several agenda and matters were approved.

2. CFA SOCIETY THAILAND’S BOARD REPORT ON THE WORKING OF THE SOCIETY DURING THE FISCAL

YEAR OF 2014-2015

Please refer to the Appendix B for the above report.

3. CFA SOCIETY THAILAND’S TREASURER REPORT OF SOCIETY DURING THE FISCAL YEAR OF 2014-2015

Please refer to the Appendix C for the Audited Statements as of 31 May 2015.

The summary of the financial position of CFA Society Thailand for the fiscal year 2014-2015 (from June 1, 2014 – May 31, 2015) is as follows:

3.1 Membership and Membership Dues Collection details:

2014-2015 CFA Society Thailand Society Member Dues Rate: USD 35.00 per member (for all types of membership)

Discrepancies in dues collected and the number of current members as some society members were either transferred to and/or from other societies during the fiscal year and the overlap payment of new fiscal year.

2015-2016 CFA Society Thailand Society Dues Rate will remain the same at USD 35.00 per member (for all types of membership).

As approved by the Society Board of Directors on 23 June 2005, new members joining the Society will have to pay a one-time joining fee of THB 2,000 per person.

Year Total Charterholder Non-Charterholder

2003 28 28 0

2004 58 43 15

2005 76 68 8

2006 105 98 7

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2007 165 158 7

2008 186 176 10

2009 214 207 7

2010 235 231 4

2011 244 239 5

2012 288 284 4

2013 324 318 6

2014 341 336 5

2015 356 351 5

4. TO APPROVE THE AUDITED STATEMENTS FOR THE FISCAL YEAR OF 2014-2015

Background

The CFA Society Thailand was formally incorporated on 23rd September 2005, and our society has the fiscal year ending every 31st May.

See Appendix C for the Audited Statement

Voting Requirement

The CFA Society Thailand’s Board recommends that the audited statement of the fiscal year 2014-2015 be approved at this Annual General Meeting.

5. TO APPOINT THE AUDITOR FOR THE FISCAL YEAR OF 2015-2016

Background

The CFA Society Thailand is considering of appointing an auditor for the fiscal year of 2015-2016:

1. Expert Audit quoting for an audit fee of THB 12,000. (Same as previous year).

2. MMN Syndicate Office Company limited quoting for an audit fee of THB 15,000

Voting Requirement

The CFA Society Thailand’s Board recommends that the auditor for the fiscal year 2015-2016 be Expert Audit for the audit fee not more than 12,000 baht be approved at this Annual General Meeting.

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6. ELECTION OF THE BOARD OF DIRECTORS AND THE OFFICERS, FOR THE FISCAL YEAR 2015-2016

According the nomination as closing at 11:59pm BKT of Monday, 20 July 2015, the following are the nominees for the Board of Directors for the fiscal year 2015-2017, beginning July 1, 2015 to 30 June, 2017 and until the election and qualification of their successors.

Nine Nominees for Board of Director (in alphabetical order) are as follows:

1. Andrew Stotz, CFA

2. Chatchai Thisadoldilok, CFA

3. Niphot Krailas-olarn, CFA

4. Phasuvut Vilainerun, CFA

5. Rungarun Pholphadung, CFA

6. Sira Suchintabandid, CFA

7. Smart Saensuk, CFA

8. Sornchai Suneta, CFA

9. Win Phromphaet, CFA

Officers Nominees are as follows:

Andrew C. Stotz, CFA (President)

Win Phromphaet, CFA (Vice President)

Rungarun Pholphadung, CFA (Secretary)

Smart Saensuk, CFA (Treasurer)

Voting Requirement

Based on the amended Society Bylaws, “5.3 Terms and Election (a) The total number of Directors, including ex officio Directors, shall be at least seven (7) and not more than nine (9)….” Each Regular Members in good standing is required to vote, in person or by proxy, at the AGM up to nine (9) nominees for the new Board for the fiscal year 2015-2017.

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The following biographies described the professional backgrounds and nominees statements (in alphabetical order):

Andrew Stotz, CFA (Current President) Andrew Stotz is an award-winning stock market analyst with twenty years of experience at various investment banks. He is the CEO of A. Stotz Investment Research, an independent research firm. The firm helps companies improve their financial performance; and helps individuals and institutions build wealth through stock selection and portfolio management. He has been a university lecturer in finance his whole career, and is a PhD (finance) candidate at the University of Science and Technology of China. He is a co-founder of CoffeeWORKS Co. Ltd., a leading specialty coffee roaster, and Jcademy.com, an innovative online learning platform. Andrew has authored two books: ‘You Won’t Get Rich in the Stock Market… Until You Change the Way You Think about It’ and ‘Transform your Business with Dr. Deming’s 14 Points’. I have been a Chartered Financial Analyst since 2001.

It would be my honor to serve as President of CFA Society Thailand for a second term. I am proud to be a CFA charterholder and want to raise awareness of our great CFA program and society. As one of the founding directors and members of CFA Society Thailand since 2003, I have been privileged to be involved in our society, most recently as President. If elected as President I pledge to devote my time and energy to leading our society. My focus will be on building up our volunteer base. I look forward to working with the incoming elected board members and committee chairs as we all continue our tradition of service to our investment community and upholding the value of the CFA charter.

Chatchai Thisadoldilok, CFA

I am the Acting Director of Research Department in the Capital Market Policy Division, at the Securities and

Exchange Commission, Thailand. Since 2013, I have been working for the commission in various fields of policy

research works, including asset management, corporate finance, and market structure. I am also serving as a

committee member in the private fund and the provident fund of the commission. Back to 2004, I entered the

financial service industry as a risk management analyst. Then, I gained some years of experience in investment

banking and product management.

It would be my honor if I could serve as a director of CFA Society Thailand, and contribute more to our society.

Since 2013, I have become a CFA charterholder and actively involved in activities of CFA Society Thailand, such

as initiating and organizing a CFA seminar event, and grading the CFA Research Challenge. To promote the

programs of CFA Institute, I have arranged a scholarship program between the Commission and the CFA Institute,

lending support to the SEC staff enrollment into CFA, CIPM, and Claritas programs. I am very interested in

supporting CFA initiatives and promoting further use of CFA products in the industry. I hold a BA and an MA in

Economics (International Program) from Thammasat University, and a research scholar position specializing in

corporate finance at the Norwegian School of Economics.

Niphot Krailas-olarn, CFA

I am currently a Senior Fund Manager at TISCO Asset Management Co., Ltd, responsible for managing the client’s portfolio according to investment guidelines with the objective to outperform the benchmark in both absolute and risk-adjusted basis. The scope of my duties also includes defining and advising investment guidelines, strategic/tactical asset allocation that suits the clients’ risk-return profiles, constraints and unique preferences. I received a BBA in Finance and Banking (Summa Cum Laude) from Assumption University and a Master of Applied Finance from Macquarie University, Australia.

I have been involved with CFA Society Thailand’s volunteer activities since 2012. It has been my great honor to join various volunteer roles, including being a tutor for CFA level I preparation course in portfolio management, a grader and a mentor for CFA Institute Research Challenge in Thailand. My current active role is a member of administrator team of CFA Society of Thailand Facebook page promoting events/ activities run by the society and also creating awareness in shaping a trustworthy, forward-thinking finance industry that better serves society by local members under the campaign “The Future of Finance”

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Phasuvut Vilainerun, CFA

I began my volunteer role in the CFA Institute Research Challenge in Thailand which I currently serve as a Chairperson. It has been my great honor to have a chance to contribute to the society during the past 3 years. The Research Challenge program in Thailand has been successfully organized every year, and the awareness of both CFA society and the program itself has been gradually increasing over time. I am pleased to be involved in and manage the program, which hands out great educational experiences, and also promotes high ethical standards to participating students.

I currently work in the Investment Banking Department at Asia Plus Securities. My responsibilities include executing and managing various types of financial advisory deals such as equity offerings, mergers & acquisitions, and project feasibility studies. Prior to joining Asia Plus Securities, I had worked in the Investment Banking Department at Bangkok Bank, responsible for power plant project financing. I received a Bachelor’s Degree in Industrial Engineering from Chulalongkorn University.

Rungarun Pholphadung, CFA

I have a professional background in the banking industry focusing on Assets Liabilities Management (ALM), and Liquidity Risk Management. My current role at KPMG Thailand is in the Financial Risk Management team, taking care of clients in banking, securities, and asset management. I received an MSc in Financial Economics from University of Essex, England and a BSc in Economics from Kasetsart University.

Since receiving the CFA charter in 2009, I have been volunteering in CFA Society Thailand’s various activities. Previously, I was the CFA Society Thailand’s Program Chair, coordinating and organizing both CFA Institute and CFA Society Thailand’s events including study groups for CFA candidates which I also participated as a group tutor. Since 2013 I have been the Membership Chair of the Society, responsible for membership coordination and communication.

Investment is one of my passions and becoming a CFA charterholder is therefore one of my proudest achievements. On top of that, it has been my honor to contribute to our society in various volunteer events. My ambition is not to only see the society play a major role in raising the value of CFA charterholders to a higher standard in the investment community but to also cultivate ethical minds of the next generation of elites.

Sira Suchintabandid, CFA

I am a faculty member at the Department of Banking and Finance, Chulalongkorn Business School. My areas of research and teaching include derivative markets, credit risks, and quantitative modeling. Apart from my teaching responsibilities in the M.S. Finance, M.S. Financial Engineering, and Ph.D. in Quantitative Finance Programs at Chulalongkorn, I am also involved in consulting works and executive workshops in the area of risk management. My educational background includes a B.Sc. in Engineering from Chulalongkorn, and an M.A. and a Ph.D. from Columbia University.

I am passionate about finance education, and I always seek to strengthen the link between theory and practice. I believe that finance professionals need to be knowledgeable, competent, and ethical, and I firmly believe in the CFA Program as an ensurer of that higher standards. I have the pleasure of working with a team of devoted members to help promote the CFA Asset Manager Code of Professional Conduct --- a cause that, the team and I feel, would make a difference in the industry. It is truly a privilege to be a member of the CFA community, and I look forward to continuing to contribute to its mission.

Smart Saensuk, CFA

I have been working in the banking sector for over 10 years. I am currently a senior relationship manager at Citibank, covering financial institutions clients. Prior to joining Citi, I spent a number of years at ING Bank NV, involving in cross-border M&A and project financing. I began my career as an auditor with PricewaterhouseCoopers. In addition to my banking experiences, I taught classes in corporate finance, fixed-income, and derivatives at universities, including CFA prep courses. My educational background includes a BA from Chulalongkorn University, an MBA/MSc from University of Illinois, and a PhD from University of Missouri.

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I have been involved with the CFA society for many years, helping with a number of activities including teaching CFA Study Groups as a volunteer. Two years ago I was given an opportunity to be elected on the Board, I am looking forward to again serving our members as a Treasurer for the Society.

Sornchai Suneta, CFA

With 16 years of experience as professional in Fund Management and 8 years of Treasury Financial market field, my current position is Chief Investment Officer at SCB Asset Management, managing over 1 trillion baht (33 billion dollars) of AUM. I lead the fund management team with over 50 employees, including fund managers and analysts, many of whom are CFA charterholders and candidates. Previously, I was the Fixed Income Director at the Government Pension Fund. I obtained a BBA (Banking and Finance) from ABAC and a Master of Science in Financial Management from University of London.

It would be my honor to join CFA Society Thailand’s Board of Directors to contribute my extensive experience in professional investment industry to support CFA community and to promote the growth of investment professionals and standards in Thailand for many years to come.

Win Phromphaet, CFA

I am currently Head Investments of the Social Security Office, Thailand's largest institutional investor with total AUM of US$38 billion. I joined the SSO in 2002 and is now responsible for managing investments of the mandatory Social Security Fund and Workmen’ Compensation Fund. I am also a member of the Investment Committee and a Deputy Spokesperson. My educational background includes a BA in Economics (International Program) from Thammasat University and an MBA from the Rotterdam School of Management, Erasmus U., Netherlands, sponsored by the Royal Thai Government.

I have been teaching finance courses, using mostly CFA curriculum, at Thammasat, NIDA and ABAC. I wrote a book, which was kindly sponsored by the CFA Institute, as well as articles regularly (through newspapers, magazines and Facebook.com/Win.Phromphaet) to promote the CFA Program and our finance profession. The book was developed from my previous work at cfathailand.blogspot.com which helped provide guidance to candidates about the CFA exam preparation. It is my passion to support and inspire young generation to become tomorrow's finance professionals.

7. OTHER BUSINESS (IF ANY)

http://cfathailand.blogspot.com/

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PROXY This proxy is solicited on behalf of CFA Society Thailand for use at the Annual General Meeting of Members to be held on Tuesday, 29 September 2015 at 6.00 p.m. at Anantara Siam Bangkok Hotel, 155 Rajadamri Road, Bangkok. In order to cast this Proxy, the undersigned must be a Regular Member of CFA Society Thailand In Good Standing.

The undersigned hereby appoints Andrew Stotz, CFA (President), and Sutira Pitayametee, CFA (Secretary), and each of them, jointly or severally, as proxy, with full power of substitution, to vote on all matters on which the undersigned is entitled to vote at the Annual General Meeting and at any adjournment thereof.

Indicate your choice by marking an X in the appropriate box

Your vote will be cast as specified. If no vote specification is made, your vote will be cast at the discretion of the proxy holders.

Items that need voting FOR AGAINST ABSTAIN

(1) TO APPROVE THE 2014-2015 AUDITED STATEMENT

(2) TO APPOINT THE AUDITOR FOR 2015-16

as recommended by the Board

(3) ELECTION OF BOARD OF DIRECTORS 2015-2017

NOMINEES (IN ALPHABETICAL ORDER)

Andrew Stotz, CFA ________________________________

Chatchai Thisadoldilok, CFA ________________________

Niphot Krailas-olarn, CFA __________________________

Phasuvut Vilainerun, CFA __________________________

Rungarun Pholphadung, CFA _______________________

Sira Suchintabandid, CFA __________________________

Smart Saensuk, CFA ______________________________

Sornchai Suneta, CFA _____________________________

Win Phromphaet, CFA _____________________________

(4) ELECTION OF THE OFFICERS 2015-2017

Andrew Stotz, CFA ______________________ (President)

Win Phromphaet, CFA _______________ (Vice President)

Rungarun Pholphadung, CFA _____________(Secretary)

Smart Saensuk, CFA _____________________(Treasurer)

……………………………………………..… ………………… ..…………. Signature: (Regular Member in Good Standing) Membership No. Date

INSTRUCTIONS: Please complete, sign and date the proxy and; return it by

1) emailing to [email protected] (before 12noon, 28 September 2015)

or 2) in person if you plan to attend the AGM on 29 September 2015

mailto:[email protected]

Appendix A

APPENDIX A: VOLUNTEER RECOGNITION

CFA Society Thailand Officers and Directors 2013-2015

President Andrew C. Stotz, CFA Vice President Sukit Chawalitakul, CFA Secretary Sutira Pitayametee, CFA Treasurer Smart Saensuk, CFA Director Win Phromphaet, CFA Director Peet Yongvanich, CFA Director ***Preechawut Sachasiri, CFA Director Piyakorn Chonlaworn, CFA Director Pisit Jeungpraditphan, CFA

Committee Chairs and Volunteers 2013 - 2015

Advocacy *Sukit Chawalitakul, CFA

Advocacy Sira Suchintabandid, Ph.D, CFA

Career Services *Piyakorn Chonlaworn CFA

Career Services Kanjaraj Tangtatswas, CFA

Program *Andrew C. Stotz, CFA

Program Khetkajorn Chakarawet, CFA

Program Niphot Krailas-olarn, CFA

Program ***Shisa Ratsameesang, CFA

Program Chomphoonuj Sathavonmanee, CFA

Program Bundit Praditsuktavorn, CFA

Program Suticha Maneewongwattana, CFA

Industry Relations & Claritas *Peet Yongvanich, CFA

Membership *Rungarun Pholphadung, CFA

Public Awareness *Win Phromphaet, CFA

Research Challenge **Andrew Stotz, CFA

Research Challenge **Sutira Pitayametee, CFA

Research Challenge ***Preechawut Sachasiri, CFA

Research Challenge Phasuvut Vilainerun, CFA

Technology *Andrew C. Stotz, CFA

Funding *Smart Saensuk, CFA *Chair, **Co-chair, ***Resigned

Appendix A

CFA Institute Research Challenge in Thailand

Sep 2015 – Jan 2015

Program Chairs:

Andrew Stotz, CFA

Phasuvut Vilainerun, CFA Sutira Pitayametee, CFA

Advisors:

Pisit Jeungpraditphan, CFA Preechawut Sachasiri, CFA

Coordinator:

Sunapa Sangnapaboworn

Panel Judges:

Anucha Laokwansatit, CFA

Anute Pathipvanich Orsen Karnburisudthi, CFA Suchart techaposai, CFA

Report Graders:

Chatchai Thisadoldilok, CFA

Peet Yongvanich, CFA Pisit Jeungpraditphan, CFA

Sukit Chawalitakul, CFA

Industry Mentors:

Jakkapun Pornpunnarath, CFA Kritapas Siripassorn, CFA Niphot Krailas-olarn, CFA

Porntipa Nungnamjai, CFA Sukit Jaratchaiwanna, CFA

Worawat Saisuphatphol, CFA Yingyong Chiaravutthi, CFA

Appendix A

Volunteers 2014-2015

Program Kingpai Koosakulnirund Program Ved Vyas, CFA Program Komkrit Raksakulkiat, CFA Program Anuwat Siriwan Program Nicholas Mueller Advocacy Rami Juhani Piirainen, CFA Advocacy Weerawat Wongcharoenyai Advocacy Anop Pandey Advocacy Ashok Kumar Advocacy Supakorn Laohapitakvorn Advocacy Narin Marutawanich, CFA Advocacy Richard Swartz Advocacy Pisit Putthacharoenwat Advocacy Kawin Luthanachol Advocacy Matthew Reed Stevens Advocacy Kitiwat Akrangsi, CFA Advocacy Itthi Varavut

Appendix A

2014-2015 Society Study Group AUG-DEC 2014, FEB-APR 2015 Program Chair: Rungarun Pholphadung, CFA

DEC 2014 Level I Study Group

CFA Level I: Series 1-3 24 AUG 2014

Andrew C. Stotz, CFA Stephen Sproule, CFA Kaewritkrib Viriyawathana, CFA

CFA Level I: Series 4-6 21 SEP 2014

Bancha Serngadichaivit, CFA Sanruetai Santanaporn, CFA Kaewritkrib Viriyawathana, CFA

CFA Level I: Series 7-8 26 OCT 2014 Kaushal Ladha, CFA Piyakorn Chonlaworn, CFA

JUN 2015 Level I Study Group

CFA Level I: Series 1-3 15 FEB 2015

Andrew C. Stotz, CFA Stephen Sproule, CFA Supakorn Laohapitakvorn

CFA Level I: Series 4-6 15 MAR 2015

Piyakorn Chonlaworn, CFA Narin Marutawanich, CFA Ved Vyas, CFA

CFA Level I: Series 7-8 19 APR 2015 Ved Vyas, CFA

Appendix B

APPENDIX B:

REPORT ON THE WORKING OF THE SOCIETY DURING THE FISCAL YEAR OF 2014-2015

MONTH ACTIVITIES REMARKS LOCATION

2014 August

24 Dec 2014 Level I Study Group Series 1-3 Volunteer: Andrew Stotz, CFA Kaewritkrib Viriyawathana, CFA Stephen Sproule, CFA

Candidate: 34 Rm 1104, SET Building

27 Annual General Meeting 2014 & Dinner Talk

Confirmed participants:113 (Please provide final attendance data)

Renaissance Bangkok Ratchaprasong Hotel

September

4-6 CFA Institute Society Leadership Conference Pisit Jeungpraditphan, CFA participated

Park Plaza, Westminster Bridge, London

17 Member Networking Luncheon With special guest: Teera Phutrakul, CFP (Chairman of Thai Financial Planners Association)

Member: 26 Non-member: 2

The Residence 302, Grand Hyatt Erawan. Bangkok

21 DEC 2014 CFA Level I Study Group Series 4-6 Volunteer: Bancha Serngadichaivit, CFA Kaewritkrib Viriyawathana, CFA Sanruetai Santanaporn

Candidate: 40 Room 1101, SET Building

27 CFA Institute Research Challenge 2014-2015 Kick-off Meeting

7 universities participated VIP Room, 1/F, Bldg 2, SET Building

30 ASEAN Top Companies: The Growth Story Continues – But At What Cost? In collaboration with: Standard & Poor’s Ratings

October

26 DEC 2014 CFA Level I Study Group Series 7-8 Volunteer: Kaushal Ladha, CFA Piyakorn Chonlaworn, CFA

Candidate: 25

Room 1101, SET Building

Appendix B

November

12 The 7th Annual Thailand Roundtable 2014 In collaboration with: Asia Asset Management Human Capital Alliance Ltd

Confirmed participants: 77 Siam Kempinski Hotel Bangkok

22 DEC 2014 CFA Level 1 Practice Exam Volunteer: N/A

Confirmed participants: 32 Room 1101 &1104, SET Building

MONTH ACTIVITIES REMARKS LOCATION

2015 January

6 CFA Institute Research Challenge 2014-2015 Panel Presentation Thammasat University – Thailand Winner 2014-2015

7 Teams from 7 Universities SET Building

13-14 Business Valuation by Prof. Aswath Damodaran Powered by: The Vccircle Network

Raffles Hotel, Singapore

17 CFA Charter Recognition Ceremony 2014 With special guest: Neil Govier, CFA (Head, Education, APAC, CFA Institute)

New Member & Charterholder: 26

Exhibition Hall, SET

February

15 JUN 2015 CFA Level I Study Group Series 1-3 Volunteer: Andrew Stotz, CFA Stephen Sproule, CFA Supakorn Laohapitakvorn, CFA


March

13-15 CFA Institute Asia Pacific Regional Meeting 2015 (SLC) Andrew Stotz, CFA (President) participated

Kuala Lumpur, Malaysia

15 JUN 2015 CFA Level I Study Group Series 4-6 Volunteer: Narin Marutawanich, CFA Piyakorn Chonlaworn, CFA Ved Vyas, CFA


29 Career Connext in Finance In collaboration with: Career Context Stock Exchange of Thailand

Professor Sangvian Indaravijaya Auditorium, 3/F, SET

Appendix B

31 Career Luncheon | Explore Your Career in Finance!

Confirmed participants: 93

Room 704, Sasin Graduate Institute of Business Administration of Chulalongkorn University, Bangkok

April

19 JUN 2015 CFA Level I Study Group Series 4-6 Volunteer: Ved Vyas, CFA


May

17 JUN 2015 CFA Level I, II & III Practice Exam Volunteer: N/A

Candidate: 73 Room 1101 & 1104, SET Building

28 Member Networking Luncheon


Yamazato Restaurant, 24/F, The Okura Prestige Bangkok

June

25 Member Networking Wine & Dine Session


Axis & Spin, 39/F, The Continent Hotel, Bangkok

Appendix C

APPENDIX C:

AUDITED STATEMENTS FOR CFA SOCIETY THAILAND, AS OF 31 MAY 2015

CFA SOCIETY THAILAND REPORT AND FINANCIAL STATEMENTS

31 MAY 2015

Report of Independent Auditor To The Board of Directors and Members of CFA SOCIETY THAILAND

I have audited the accompanying financial statements of CFA Society Thailand (the “Society”) which comprise the statement of financial position as of 31 May 2015, and the related statements of income and changes in assets for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with Thai Financial Reporting Standards applicable to non-publicly accountable entities, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with Thai Standards on Auditing. Those standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.

Opinion

In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of CFA Society Thailand as at 31 May 2015, and its financial performance for the year then ended in accordance with Thai Financial Reporting Standards applicable to non-publicly accountable entities.

Tulaya Pengniti Certified Public Accountant (Thailand) No. 6707 1991/12 On-nuch Road, Suanluang Subdistricts, Suanluang District, Bangkok 1 August 2015

(UNIT: BAHT)Note 2015 2014

ASSETS

CURRENT ASSETS

Cash on hand and cash equivalents 4 5,864,131.09 4,631,567.93 TOTAL CURRENT ASSETS 5,864,131.09 4,631,567.93

LIABILITIES AND NET ASSETS

CURRENT LIABILITIES

Accrued expenses 84,000.00 34,000.00 Advance from directors 103,706.56 76,619.53 Other current liabilities 12,301.73 13,176.60 TOTAL CURRENT LIABILITIES 200,008.29 123,796.13 NET ASSETS

Accumulated income over expenses 5,664,122.80 4,507,771.80 TOTAL NET ASSETS 5,664,122.80 4,507,771.80 TOTAL LIABILITIES AND NET ASSETS 5,864,131.09 4,631,567.93

The accompanying notes are an integral part of the financial statements.

CFA SOCIETY THAILANDSTATEMENTS OF FINANCIAL POSITION

AS AT 31 MAY 2015

Certified True and Accurate Certified True and Accurate

Signature ........................................................ Director Signature ........................................................ Director(Mr. Smart Saensuk, CFA) (Mr. Andrew Stotz, CFA)

(UNIT: BAHT)Note 2015 2014

INCOME

Revenue from membership fee 492,897.70 358,731.30 Revenue from donation and other supports 863,343.82 769,017.82 Revenue from training and seminar 372,808.00 410,525.09 Other income 20,392.76 24,769.87 TOTAL INCOME 1,749,442.28 1,563,044.08 EXPENSES

Members related expenses 226,457.22 258,777.41 Training and seminar expenses 258,517.99 198,963.28 Professional expenses 94,000.00 94,000.00 Travelling expenses - 21,920.61 Other expenses 4,620.63 2,499.57 TOTAL EXPENSES 583,595.84 576,160.87 INCOME OVER EXPENSES BEFORE TAX 1,165,846.44 986,883.21 CORPORATE INCOME TAX 5 (9,495.44) (10,687.49) INCOME OVER EXPENSES 1,156,351.00 976,195.72


STATEMENTS OF INCOMECFA SOCIETY THAILAND

(Mr. Smart Saensuk, CFA) (Mr. Andrew Stotz, CFA)


FOR THE YEAR ENDED 31 MAY 2015

Signature ........................................................ Director Signature ........................................................ Director

(UNIT: BAHT)

2015 2014

NET ASSETS

Accumulated income over expenses

Beginning balance 4,507,771.80 3,531,576.08

During the periods 1,156,351.00 976,195.72

Ending balance 5,664,122.80 4,507,771.80

TOTAL NET ASSETS 5,664,122.80 4,507,771.80


(Mr. Smart Saensuk, CFA)

Signature ........................................................ Director

(Mr. Andrew Stotz, CFA)

CFA SOCIETY THAILAND

STATEMENT OF CHANGES IN ASSETS

FOR THE YEAR ENDED 31 MAY 2015


Signature ........................................................ Director




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CFA SOCIETY THAILAND NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2015

1. GENERAL INFORMATION

CFA Society Thailand was incorporated as a limited Society under the Civil and Commercial on 23 September 2005. The Society operates in Thailand, the objective of which is to enhance the professionalism of those involved in the investment decision-making process. The Society provides a program of professional development through conferences, publications, and webcasts that enable members, CFA candidates, and others to stay abreast of the changing and expanding Body of Knowledge for CFA program in Thailand and supports other activities of the members. The Society’s office is located at 55/6 Focus on Saladaeng Condominium, Saladaeng Road, Silom, Bangrak, Bangkok.

2. BASIS FOR PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with financial reporting standard applicable to non-publicly accountable entities as issued by the Federation of Accounting Professions and their presentation has been made in compliance with the stipulations of the Notification of the Department of Business Development dated 28 September 2011, issued under the Accounting Act B.E. 2543.

The financial statements have been prepared on a historical cost basis except where otherwise disclosed in the accounting policies.

The financial statements in Thai language are the official statutory financial statements of the Company. The financial statements in English language have been translated from Thai language financial statements.




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3. SIGNIFICANT ACCOUNTING POLICIES

Significant accounting policies adopted by the Society are summarized below :-

3.1 Revenue recognition

Income and expenses are recognised on an accrual basis.

3.2 Use of accounting estimates

The preparation of financial statements in conformity with financial reporting standards requires management to make estimates and assumptions in certain circumstances, affecting amounts reported in these financial statements and related notes. Actual results could differ from these estimates.

4. CASH ON HAND AND CASH EQUIVALENTS

As at 31 May 2015 and 2014, the Society has cash on hand and cash equivalents as followings:

(Unit: Baht) 2015 2014 Cash - 5,895.14 Current account – Kasikorn Bank Plc. 30,000.00 30,000.00 Savings account – Kasikorn Bank Plc. 3,240,944.04 2,770,992.04 Savings account – Standard Chartered Bank 2,593,187.05 1,824,680.75 Total 5,864,131.09 4,631,567.93

5. CORPORATE INCOME TAX

Income tax is provided in the accounts at the amount expected to be paid to the taxation authorities, based on taxable profits determined in accordance with tax legislation.

6. APPROVE FINANCIAL STATEMENTS

These financial statements were authorised for issue by the authorised director on 1 August 2015.

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