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Management discussion
and analysis
89
(Unit: THB million)
For the year ended December 31
2015
2014
Increase /(Decrease)
Amount
%
Operating revenue
4,518
4,201
317
7.55
Other income
205
165
40
24.24
Investment income
492
871
(379)
(43.51)
Operating expenses
(3,335)
(3,082)
253
8.21
Contributions to The Stock Exchange of Thailand
Foundation (Foundation)
(401)
(547)
(146)
(26.69)
Income tax expense
(140)
(113)
27
23.89
Revenues over expenses
1,382
1,535
(153)
(9.97)
Revenues over expenses for the year ended December 31,
2015 of THB 1,382 million decreased by THB 153 million, or
9.97%, in comparison with 2014. Investment income decreased
by THB 379 million, or 43.51%, due to the low return from
investment in debt and equity fund. However, the operating
revenue rose by THB 317 million, or 7.55%, mainly from daily
average trading volume of derivatives increase as well as higher
listing fee and registrar fee from the rise in number of listed
securities and corporate action services. Operating expenses
rose by THB 253 million, or 8.21%, mainly due to the higher
depreciation from SET’s new systems and new office building,
including the increase in marketing expenses for promoting
sustainable development of listed companies, the cost of hosting
of International Capital Markets Conference (ICMC) 2015 and
the dissemination of information via various media channels.
Contributions to the Foundation decreased by THB 146 million,
or 26.69%, as revenues over expenses decreased, resulting in
the decrease of one-third of that amount to be appropriated
to the Foundation.
Overview
The operating results of the SET group for the years ended December 31, 2015 were:
1.
Analysis of operating
results
1.1 Operating revenue
Operating revenue by segment
Operating revenue is classified by segment as follows:
Securities market, Derivatives market, Technology services and
Registrar services.