TBS Annual Report 2017

04 ÂʼĶÊ ²Ê» Â¹ÊºÃÊÀÌ°»Ê¾É»±¼¼ºĹÊÂij¼č 05 ÂʼĶʠű̠ʼ³IJͺÃÊÀÌ°»Ê¾É»±¼¼ºĹÊÂij¼č 06 ÂʼĶÊ ²Ê» ÂºÊ£º²É ĹΠÁÊÔ ĉʷʮ̧»ĹÊÂij¼čվȠʼ³É©§Í 07 ÂʼĶÊ ´¼È±Ê²£®È ¼¼º Ê¼²É ĹΠÁÊ ¹Ê·¼Àºµ¾ Ê¼IJËԲ̲¦Ê² 10 %QNLSGD#D@M 12 8$ 12NE/(.-$$1(-& 22
Ú¥i‹‘¡™Ÿ‘zØÝ 24
‘ŸÙŸzØÝw‘‘wŸ‘Ú¥i‰‘|z¤Ø•¤×¡Œ‘Ý} zØÝ‘ŸÙŸ™ž•™ÙiŸŽŸz˜ŸxŸ•¡Ÿ 26
Ú¥i› Ù•wŸ‘¬z‘|wŸ‘
Ú¥i› Ù•wŸ‘–¥ÙÐ 28
ړwŸ‘† ªÙ¡Ù|ŸÙ‰¢²˜ zžÖ­Ù‘›‹Œ`wŸ‘–£w—Ÿ
 46 ŽŸz•¡ŸwŸ‘‹žÖ¢ 50 ŽŸz•¡ŸwŸ‘ª|¡Ù 52 ŽŸz•¡ŸwŸ‘‡“Ÿ† 54 ˜ŸxŸ•¡Ÿ‘Ý‹‹˜Ÿ‘˜Ùª‰–ªÜÞ²›wŸ‘}ž†wŸ‘ 56 ˜ŸxŸ•¡ŸwŸ‘‹‘¡™Ÿ‘›|zÐwŸ‘
wŸ‘Œ‘Ýw›‹wŸ‘
«“݉‘žÜŸw‘Ù¤—Ð 58 ˜ŸxŸ•¡Ÿ‹‘¡™Ÿ‘wŸ‘Œƒ¡‹ž‡¡wŸ‘ 60 ˜ŸxŸ•¡ŸwŸ‘‹‘¡™Ÿ‘Š¤‘w¡}‘Ý™•hŸ|Œ‘ݪ‰–
¬“}¡˜‡¡w˜Ð«“ÝwŸ‘x٘h| 62 ˜ŸxŸ•¡ŸŠ¤‘w¡}›˜ž|™Ÿ‘¡‰‘žÜÐ 64 ™“žw˜¥‡‘z•‹‡‘¢¬‰
‰Ÿ|wŸ‘‹žÖ¢«“Ý‹‘¡™Ÿ‘Š¤‘w¡}
*#.1 68 ¬z‘|wŸ‘Œ‘¡Ö֟‡‘¢‹‘¡™Ÿ‘Š¤‘w¡}
™“žw˜¥‡‘ٟٟŸ‡¡
##" 71 ¬z‘|wŸ‘Š‘¤w¡}›˜ž|™Ÿ‘¡‰‘žÜÐ 74 ¬z‘|wŸ‘Œ‘¡Ö֟¬‰†iŸÙ‹‘¡™Ÿ‘Š¤‘w¡}
.#"
.#")3.
9.#" 76 ¬z‘|wŸ‘Œ‘¡Ö֟¬‰‰Ÿ|wŸ‘‹žÖ¢ 78 ¬z‘|wŸ‘Œ‘¡Ö֟¬‰
˜ŸxŸ•¡Ÿ‘Ý‹‹˜Ÿ‘˜Ùª‰–ªÜÞ²›wŸ‘}ž†wŸ‘
.4.*4 82 ¬z‘|wŸ‘Œ‘¡Ö֟¬‰‰Ÿ|wŸ‘‡“Ÿ†
™“žw˜¥‡‘ٟٟŸ‡¡
.*. 83 ¬z‘|wŸ‘Œ‘¡Ö֟¬‰‰Ÿ|wŸ‘ª|¡Ù
™“žw˜¥‡‘ٟٟŸ‡¡
.*' 84 ¬z‘|wŸ‘Œ‘¡Ö֟¬‰‹‘¡™Ÿ‘Š¤‘w¡}
™“žw˜¥‡‘ٟٟŸ‡¡
(&.#" 84 ¬z‘|wŸ‘Œ‘ž֟†¤—‚¢‹žØ…¡‡
˜ŸxŸ•¡Ÿ‹‘¡™Ÿ‘Š¤‘w¡}
1I% 87 ¬z‘|wŸ‘•Ÿ‘˜Ÿ‘‹‘¡™Ÿ‘Š¤‘w¡}
+#" 88 ¬z‘|wŸ‘•Ÿ‘˜Ÿ‘•¡Ÿ¢Ü‹žÖ¢
+"1 89 –¥ÙÐ•¡}ž
#3$ 96 –¥ÙÐ­™iz Œ‘£w—Ÿ«“Ýܞ×ٟڥi‹‘¡™Ÿ‘‰Ÿ|Š¤‘w¡}«™h|™Ÿ•¡‰Ÿ“žŠ‘‘–Ÿ˜‡‘Ð
$0/$ 98 –¥ÙÐ‰†˜›‹‰žw—݆iŸÙwŸ‘}ž†wŸ‘«™h|™Ÿ•¡‰Ÿ“žŠ‘‘–Ÿ˜‡‘Ð
4."35
$FOUFS 99 –¥ÙÐ•¡ª‰–˜žÜžÙŠÐ 102 ™i›|˜¤†–Ÿ˜‡‘Ÿ}Ÿ‘Ð˜ž|ª•¢Ù
›¡Ù‰‘•¡ž µ¾ Ê¼IJËԲ̲¦Ê² ¹Ê£ÀÌ§Ê ÂÊ¡ÊÀÌ§Ê 106 ‘ŸÙŸzØÝw‘‘wŸ‘Ú¥i‰‘|z¤Ø•¤×¡†iŸÙ•¡ŸwŸ‘Œ‘Ý} ŽŸz˜ŸxŸ•¡Ÿ 110 ‘ŸÙŸ›Ÿ}Ÿ‘Ð 114 ‘ŸÙŸw‘‘wŸ‘˜ŸzÙžw–£w—Ÿ–¡—ÐªwhŸÜŸØ¡–Ÿ˜‡‘Ы“ÝwŸ‘‹žÖ¢ 115 ‘ŸÙŸÚ¥i‹‘¡}Ÿz 122 ‘ŸÙŸÚ¥i}ž†‰ ‘Ÿ|ŸÙŒ‘Ý} Œ`wŸ‘–£w—Ÿ


01 02 03 04 05 ¡ĊźѾ·Ïݲ¬Ê² µ¾ Ê¼IJËԲ̲¦Ê²Ö£¼¦ Ê¼ ĹѲ»č ÃĊŦºÐIJ ¼Ê»²Êº ˜Ÿ‘‹ ž Ö 34 Œ‘Ý•ž‡¡z•ŸªŒÒُŸzØÝܟء–Ÿ˜‡‘Ы“ÝwŸ‘‹žÖ¢
™Ÿ•¡‰Ÿ“žŠ‘‘–Ÿ˜‡‘Ð 36 ¬z‘|˜‘iŸ|wŸ‘‹‘¡™Ÿ‘|ŸÙ
zØÝܟءÐ
Œ`wŸ‘–£w—Ÿ

38 ¬z‘|˜‘iŸ|wŸ‘‹‘¡™Ÿ‘•¡ŸwŸ‘ 40 xi›¥“Ü޳لŸÙ˜ zžÖx›|zØݝ
Œ`wŸ‘–£w—Ÿ


ÂʼĶÊ ²Ê» Â¹Ê ºÃÊÀÌ°»Ê¾É»±¼¼ºĹÊÂij¼č ĹÊÂij¼ÊĶʼ»č·ÌÔĹÁ²¼²ÌijÌÔĹ¼Á¬³Ðij¼ ;TD$LBTCMTIV9DTGSD:EECJTL7E '5R@T5V-DJTL7E`GR$TE<S‰-WCMTIV9DTGSD:EECJTL7E=ERL<'ITCLU_Ef+b;$TELET*<S53V7 9WgCW'ITCE['ITCLTCTE8OO$c=_=ffl;>[;U9T*:ZE$V++U;I;CT$7GO6_IGTµ­=9Wg>T;CTOT+$GTIc6IT ;S$:ZE$V+`8IM;Tb;=fl++Z<S;+U;I;CT$ 'YO>G>GV79Wg9E*'Z5'T%O*'5R@T5V-DJTL7E`GR$TE<S‰-W CMTIV9DTGSD:EECJTL7E 'ITCLU_Ef+%O*'5RQ _$V6+T$$TE@S4;T9T*6T;IV-T$TE $TE+S6$TE_EWD;$TELO;bM$TIM;T 9S;7O$TE_=GWgD;`=G*%O*aG$OD[_LCOL*>GbM<S53V7%O*'5RQ9Sh*b;ER6S<=EV‰‰T7EW=EV‰‰Ta9 `GR=EV‰‰T_O$CW'ITCE['ITCLTCTE8CW'Z5BT@`GR=ERL<'ITCLU_Ef+b;M;T9Wg$TE*T; b;2T;R;TD$LBTCMTIV9DTGSD:EECJTL7E>C%OL*'ITC=ETE8;T6WCTDS*>[<EVMTE'5T+TED <Z'GT$E ;S$JX$KT=fl++Z<S; JVKD_$T`GR9Z$? TD9Wg_$WgDI%O* 9Wgc6EIC$S;>GS$6S;'ITC$TIM;T%O*'5RQ ODT*_%C`%f*`GR%ObM9Z$9T;=ERL<'ITCLZ%'ITCLU_Ef+`GRLCMIS*b;LVg*9Wg@X*=ETE8;T9Z$=ER$TE

¼Å¦ĹÊÂij¼ÊĶʼ»čÔ Ĺ̲ÍÀ̭Ѽ§ÊijÌ O:V$TE<6W  '5R@T5-DJTL7E V `GR$TE<  ‰-S  ;W <_=S ;M; ffl ID*T;M;  *9gX _=gW ;'ITCBT'B ffl C[ b+%O*CMTI V 9DTG V D:EECJTL7E S  7GO6ERDR  _IGTµ­=%O*$TE6U_;V;*T;'5RQ=ERL<'ITCLU_Ef+b;MGT$MGTD6T;9Sh*$TE>GV7<S53V79WgCW'Z5BT@OO$c=ES<b- =ER_9J-T7V`GRLS*'CaG$$TE_=ffl;L8T<S;6T;<EVMTE:ZE$V+9Wg_=ffl;9WgDOCES<b;ER6S<LT$Ga6D_,@TRb;=9Wgµ­;Wh9Wg'5RQ c6ES<$TEES<EO*'Z5BT@CT7E2T;$TEJX$KT+T$9Sh*°L8T<S;ER6S<aG$'YO¾¾ÀпÂÎÒÆÐ`GR¾Ê¿¾;S<_=ffl;`M*`E$ %O*=ER_9J9Wgc6ES<$TEES<EO*b;ER6S<ÑïæíéâÀïìôë  'ITCLU_Ef+%O*'5RQ _MGT;Wh DOC_$V6%Xh;+T$$TE@S4;T'ITC$TIM;T9T*IV-T$TEODT*7O_;YgO* $TE=ES<7SI_%T$S< LBT@`I6GOC`GR'ITC'T6MIS*%O*:ZE$V+c6_=ffl;ODT*6W$TELET*_'EYO%TD9Wg$IT*%IT*`GRb$G-V6$S<@S;:CV7E9Sh*b;`GR 7T*=ER_9J 7GO6+;$TELET*IS4;:EECO*'$E9Wg7ERM;S$IT$TE_=GWgD;`=G*'YO IV8W=$7V%O*$TE6U_;V;*T; 6IDMGS$ b;$TE6U_;V;*T;_-;;Wh L*>GbM'5RQ DS*'*6UE*'ITC_=ffl;L8T<S;9Wg_=ffl;7;`<<%O*$TEJX$KT6T;<EVMTE:ZE$V+ %O*=ER_9JCTODT*DTI;T;  b;;TC%O*CMTIV9DTGSD:EECJTL7E 6V,S;%O`L6*'ITCDV;6Wb;'ITCLU_Ef+%O*'5RQ `GR%O%O<'Z5>[<EVMTE'5T+TED JVKD_$T `GR9Z$? TD9Wg_$WgDI%O* 9WgCWLI;L;S<L;Z;bM'5RQ @T5V-DJTL7E`GR$TE<S‰-WEZ6M;T $TIc$G ;U-YgO_LWD* CTL[CMTIV9DTGSDODT*7O_;YgO*`GR%ObM'5RQLTCTE86UE*'ITC$TIM;T`GR'ITCLU_Ef+_-;;Wh7GO6c= ÂʼĶʠű̠ʼ³IJÍ ºÃÊÀÌ°»Ê¾É»±¼¼ºĹÊÂij¼č

²Ê»ĶÉ ¼ ½Ĺ«Ìà·Ê¼Ê·É²± Ð¾ ;TD$LCT'C;S$JX$KT_$T@T5V-DJTL7E`GR$TE<S‰-W 7GO6ERDR_IGTµ­=9Wg'5R@T5V-DJTL7E`GR$TE<S‰-Wc6DY;D*'[$S<CMTIV9DTGSD:EECJTL7E'5RQc6LET*LEE'LVg*7T*e `GRLET*'ITC9T9TDbMCbM$S<;S$JX$KTODT*7O_;YgO*_@YgObM;S$JX$KT@S4;T$ER<I;$TE_EWD;E[`GR%DTDIVLSD9SJ;bM$IT*c$G $ObM_$V6O*''ITCE[9WgLTCTE8;Uc=@S4;T7ODO6c6b;O;T'7+;=ERL<'ITCLU_Ef+b;M;T9Wg$TE*T;`GR_=ffl;<Z'GT$E'Z5BT@9Wg +RDS*=ERaD-;`$LS*'CLY<7Oc= =fl++Z<S;-YgO_LWD*%O*'5RQcC_@WD*_=ffl;9Wg_GYgO*GYOBTDb;=ER_9J`7>G*T;%O*;S$JX$KT9Sh*b;=fl++Z<S;'5T+TEDJVKD_$T 7GO6+;@;:C S 7E9 V $?Z TD9 c6gW EICb+LE  T*bM  _= ;9ffl =ER+ gW $KS c6 _>D`@E  ;TC%O*'5R@T5  -DJTL7E V `GR$TE<  ‰-S CMTI W 9DTG V D:EECJTL7E S  bMCW-YgO_LWD*_=ffl;9WgE[+S$c=9SgIaG$ $ER>Cb;;TC%O*;TD$LCT'C;$JS $KT_$ X T@T5  -DJTL7E V `GR$TE<  ‰-S %O`L6*'ITCD W ;6V `GR%O<' W 5'5R> Z <E[ MTE'5T+TED V  _+TM;T9Wg;S$JX$KTJVKD_$T`GR@S;:CV7E9Z$? TD9WgEICb+@S4;T'5RQ%O*_ETbM_+EV‰$TIM;TODT*7O_;YgO*6ID'ITCLTCS''W `GR$TE>;X$$UGS*OS;_M;WDI`;;_-;;Wh+R_=ffl;`E*>GS$6S;bM'5RQ$TIM;Tc=ODT*cCMDZ6DSh*`GRCW'ITCCSg;'*7GO6c= ÂʼĶÊ ²Ê» ÂºÊ£º ²É ĹΠÁÊÔ ĉʷʮ̧»ĹÊÂij¼č վȠʼ³É©§Í

'ITCE[_=EWD<_LCYO;ET$2T;9Wg+R9UbMC;ZKDLTCTE8 @S4;T`GR_7V<a7c6ODT**6*TC+X*_=ffl;_M7Z>G9WgIT9UcC $TEJX$KT+X*CW'ITCLU'S‰`GR_%TCTCW<9<T97O-WIV7 C;ZKD;Sg;_@ETR;O$+T$$TEJX$KT+R_=ffl;@Yh;2T;LU'S‰ %O*$TE@4;T- S IW7`G V ID  *'*7 S O_; O*c=8 gY *$TE@ X 4;TL S *'C S `GR=ER_9J-T7Va6Db;$TE>GV7`GR@S4;T<Z'GT$E9WgCW 'ITC@EOC9Sh*'ITCE['Z5:EEC`GR+EVD:EECL[LS*'C;Sh; +U_=ffl;7O*OTJSDL8T<S;$TEJX$KT9Wg6W`GRCW'Z5BT@ 7GO6ERDR_IGTµ­=9Wg>T;CT'5R@T5V-DJTL7E `GR$TE<‰-S CMTI W 9DTG V D:EECJTL7E S c6 >T;$TE_6  ;9T* V 9DTI;T;b;$TE@ gW LV+;[ ' 5BT@%O*$TE_E Z D;$TELO;6 W T; <EVMTE:ZE$V+6ID$TECZ*L[$TE_=ffl;7;`<<%O*L8T<S; $TEJ$KT`GRI X +VD6S T;<E  MTE: V E$Z +9V 6gW9WLgW6%O*=ER_9Jc9D Z ¥ÑåÞæéÞëáð¿âðñ¿òðæëâððÐàåììéÊìáâé¦'5RQc6 =ERL<'ITCLU_Ef+b;$TELET*<S53V7>[9Wg+R$TIc=_=ffl;>[;U O*'$E`GR<  ''GT$E9 Z CgW'W5BT@b;L Z *'C> S T;$ER<I;$TE  MGOMGOC.  *bMgX 'ITCE  9[ _=gW ;=ERaD-; ffl 7O$TE;Uc==ERD  $7Z  b-cCIT+R_=ffl;$TE+UGO*L8T;$TE59T*:ZE$V+ $TEOBV=ETDb;-Sh;_EWD;MEYO$TEJX$KT6[*T; ;O$L8T;9Wgb;:ZE$V+9Wg=ERL<'ITCLU_Ef+ ;O$+T$;Wh'5RQDS*LO6`9E$$TELO;bM;S$JX$KT 9Z$';c6_EWD;E[9S$KRb;$TE6U_;V;-WIV7$TE'V6`GR IV_'ETRM$TEOD[EIC$S<>[OYg;b;LS*'C$TE9U*T;_=ffl;9WC `GR@EOCCW_I9W9Wg_=6aO$TLbM;S$JX$KT9Z$';c6@S4;T J$DBT@> S T;$TEL;  <L; S ;$Z +$EEC%O*; V $JS $KTLU' X ‰S 9WgLZ6'YO$TELET*bM;S$JX$KT_Mf;'ITCLU'S‰%O*$TE9U _@YgOLI;EIC=G[$?fl*CZCCO*`GR`;I'V6_@YgObM;S$JX$KT _$V6'ITC7ERM;S$`GR_Mf;8X*'ITCLU'S‰b;$TEES<>V6-O< 7OLS*'CEICc=8X*LVg*`I6GOCEO<7SILVg*_MGT;Wh-IDL*_LEVC bM;S$JX$KT_7V<a7_=ffl;<Z'GT$E9WgLC<[E5@EOC9Sh*'ITCE[ `GR'ITC6W7GO6+;9S$KR$ER<I;$TE'V6.Xg*+R9UbM LTCTE8@S4;T7;_O*c6ODT*7O_;YgO*`GR`GRDY;MDS6c6 ODT*L*T*TC9TC$GT*DZ'`M*aG$TBVIS4;_-;;Wh  LUMES<'ITC_=ffl;LT$G'5R@T5V-DJTL7E`GR$TE<S‰-W CMTIV9DTGSD:EECJTL7Ec6ES<$TEES<EO*+T$9Sh*ÂòïìíâÞë ÃìòëáÞñæìëãìïÊÞëÞäâêâëñÁâóâéìíêâëñ¥ÂÃÊÁ¦ `GRÑåâ¾ððìàæÞñæìëñì¾áóÞëàâÀìééâäæÞñâÐàåììéð ìã¿òðæëâð𥾾Àп¦.Xg*_=ffl;O*'$EER6S<aG$9WgbM$TE ES<EO*CT7E2T;$TEJX$KT6T;<EVMTE:ZE$V+`L6*bM_Mf; IT'5RQCWMGS$L[7E`GR$ER<I;$TE$TE_EWD;$TELO; 9Wg_=ffl;CT7E2T;LT$G7GO6ERDR_IGT$ITµ­=`M* $TECZ*CSg;@S4;T'Z5BT@ $TEJX$KT8YO_=ffl;<9@VL[+;IT'5RQc6$TI%Xh;CT_=ffl; L8T<S;$TEJX$KT9Wgc6ES<$TEDOCES<b;_I9WER6S<aG$`GR +R$TI_6V;7Oc=ODT*CSg;'*6ID$TEcCMDZ69Wg+R@S4;T `GRLT;7OBTE$V+b;$TE>GV7<Z'GT$E9WgCW'Z5BT@7Oc= b;2T;R;S$JX$KTER6S<=EV‰‰T7EW%O*'5R@T5V-DJTL7E `GR$TE<S‰-WCMTIV9DTGSD:EECJTL7E6V,S;E[LX$BT'B[CVb+ 9Wgc6_=ffl;LI;M;Xg*%O*L8T<S;`M*;Wh`GR%O%O<@ER'Z5 '5T+TED_+TM;T9WgJVKD_$TEIC8X*<Z'GT$E9Z$? TD 9Wgc6EIC$S;LET*LEE'L8T<S;`M*;Wh`GR>GV7;S$JX$KT 9WgLC<[E5@EOCL[LS*'C_@YgO_=ffl;LI;M;Xg*b;$TE-ID_MGYO `GR@S4;T=ER_9J-T7V7GO6CT ÂʼĶÊ ´¼È±Ê² £®È ¼¼º Ê¼²É ĹΠÁÊ £®È·Ê®Ì§»ĹÊÂij¼čվȠʼ³É©§Í ²Ê¦ÂÊÀÀ¼Ì²°¼ÅɦĹÐÀÊ¼Í =ER:T;'5R$EEC$TE;S$JX$KT '5R@T5V-DJTL7E`GR$TE<S‰-W

01 ¹Ê·¼Àºµ¾ Ê¼IJËԲ̲¦Ê²

Thammasat Business School THAMMASAT UNIVERSITY TBS

  %O*%IS‰ES<IS;_$V6'E<EO<µ9JIEEK%O*'5RQ_ET¥.Xg*=fl++Z<S;;VDC_EWD$$S;ITÑ¿Ð.Xg*DOCT+T$ÑåÞêêÞðÞñ ¿òðæëâððÐàåììé¦$f'YOL8T;R°C*$Z0MEYO9WgBTKTOS*$FKb-'UITÑïæíéâÀïìôëa6DÑ¿Ð_=ffl;`M*`E$`GR`M*_6WDI b;=ER_9Jc9D9Wg>T;$TEES<EO*CT7E2T;$TEJX$KTER6S<LT$GODT*'E<8I;+T$°L8T<S;'YO¾¾Àп¥¾ððìàæÞñæìëñì ¾áóÞëàâÀìééâäæÞñâÐàåììéðìã¿òðæëâðð¦+T$LMES2O_CEV$TÂÎÒÆÐ¥ÂÃÊÁÎòÞéæñöÆêíïìóâêâëñÐöðñâê¦ +T$LMBT@DZaE=`GR¾Ê¿¾¥¾ððìàæÞñæìëìãÊ¿¾ð¦+T$LMET-OT5T+S$E9Sh*;Whb;<EE6TL8T<S;$TEJX$KT6T; <EVMTE:ZE$V++U;I;®°©³´­`M*9SgIaG$CWcC8X*®­­`M*_9T;Sh;9Wg>T;$TEES<EO*'E<9Sh*°CT7E2T;`GR9UbMÑ¿Ð _%Tc=OD[b;$GZC9WgOT++R8YOc6ITCW'ITC@V_JKCT$ea6D+RLTCTE8_-YgOCaD*$S<CMTIV9DTGSDb;ER6S<_6WDI$S;c6 ODT*b$G-V6b;9Z$B[CVBT'%O*aG$`GR'ITC@V_JK;Wh+RDVg*=ET$0-S6_CYgO_ET_=ffl;_+TBT@+S6$TE=ER-ZC;T;T-T7V%O* ÍÆÊ¥ÍÞïñëâïðåæíæëÆëñâïëÞñæìëÞéÊÞëÞäâêâëñ¦.Xg*_=ffl;_'EYO%TD`G$_=GWgD;;S$JX$KT9Wg+U$S6I*OD[_,@TRb; CMTIV9DTGSD-Sh;;U%O*aG$_@WD*³±`M*b;°¯=ER_9J_9T;Sh;`GRÑ¿Ð$f_=ffl;_@WD*`M*_6WDIb;=ER_9Jc9D9Wgc6_=ffl; LCT-V$%O*ÍÆÊ$TEOTLTES<_=ffl;_+TBT@+S6=ER-ZCb;-I*7ZGT'C¯­®¶%O*_ETLET*'ITC7Yg;_7;'X$'S$bM$S<<EE6T CMTIV9DTGSD7T*e_=ffl;ODT*CT$`GR'T6IT+R_=ffl;$TE=ER-ZCÍÆÊ9WgCW+U;I;LCT-V$_%TEICCT$9WgLZ6_GD9W_6WDI `;;O;'ITC$TIM;T%O*'5RQ9WgCWCT+;8X*=fl++Z<S;`GR9Wg+R$TI7Oc=ODT*cCMDZ6DSh*b;O;T'7_$V6+T$IVLSD9SJ; `GR'ITC9ZC_9%O*9WC<EVMTEb;9Z$DZ'9Z$LCSD9Wg>T;CT7Sh*`7`E$_EVgC$O7Sh*'5R_ETCW'5T+TED9WgCW'ITCLTCTE8_=ffl; 9WgDOCES<ER6S<;T;T-T7VCW;S$JX$KT9Wg'ITET*ISGCTb;_I9W7T*e9Sh*b;`GR7T*=ER_9JCW_+TM;T9WgLTDL;S<L;Z;9WgES$ `GR9ZC_99U*T;bM'5RODT*cCE[+S$_M;f6_M;YgODCWJVKD_$T9WgLET*-YgO_LWD*`GR'Z5=ERaD-;bM$S<I*$TE7T*eODT* 7O_;YgO*CWO*'$E7T*e9Sh*BT'ET-$TEES2IVLTM$V+_O$-;`GRO*'$EERMIT*=ER_9J9Wg_%TCT_=ffl;_'EYO%TD9T* IV-T$TE`GR9U*T;EIC$S<_ETODT*LCgU_LCOLVg*7T*e_MGT;Wh9UbMÑ¿ÐLTCTE8=fl$:*'ITC_=ffl;L8T<S;$TEJX$KT ER6S<aG$c6ODT*_7fCBT'B[CVb;=fl++Z<S;`7LU'S‰_M;YOLVg*OYg;b6'YOLU;X$9Wg_ETEIC$S;=G[$?fl*bM;S$JX$KT`GR<S53V7 9Z$ER6S<%O*_ETbMES$=ER-T:V=c7DES$_LEWBT@ES$'ITC_=ffl;:EEC'V68X*>[OYg;bLb+LS*'C`GR@EOCDYg;CYObM$S<BT' LI;7T*e9Wg7O*$TE'ITC-ID_MGYOa6DcCGS*_G+V7IV‰‰T5'ITC_=ffl;:EECJTL7E9WgcG_EWD*CT%T*7;'YOLVg*9Wg9UbM Ñ¿Ða66_6;`GR`7$7T*+T$'5R6T;<EVMTE:ZE$V+-Sh;;U9Sh*MGTDb;aG$ BTDb7'ITCLU_Ef+9WgÑ¿Ð_6V;CT+;8X*9Z$IS;;Wh$fDS*'*CW'ITC9T9TDbM‰CT$CTDEO_ETOD[%T*M;T9Sh*$TE$TI $ERa66%O*_9'a;aGDW9Wg@GV$a,C$TEb--WIV7`GR$TE9U*T;%O*>[';LBT@`I6GOC9T*_JEK2$V+LS*'C$TE_CYO* 9Wg`7$7T*+T$9JIEEK9Wg>T;CTODT*cC;T_-YgO`GR+RDS*'*_=GWgD;`=G*c=OW$CT$CTDMGTDCV7Vb;9JIEEK9Wg+RCT8X* 6S*;Sh;_@YgOES$KTL8T;R'ITC_=ffl;>[;U%O*L8T<S;$TEJX$KT6T;<EVMTE:ZE$V+ER6S<;T;T-T7VÑ¿Ð$fDS*CWOW$MGTDBTE$V+ 9Wg7O*_6V;M;T9Sh*$TE=ES<LBT@`I6GOC9T*IV-T$TEbMLO6ES<$S<IV8W%O*_+;_;O_E-Sg;bMCecCIT+R_=ffl;6T;$TDBT@ cO9WE[=`<<$TE_EWD;E[$TE=ER_CV;>G$TE@S4;T9S$KR>[;Ub;J7IEEK9Wg¯®bM$S<<S53V79Z$ER6S<a6D_,@TR_@YgObM @I$_%T_MGT;Sh;CWLU;X$'ITC_=ffl;@G_CYO*aG$9Wg'V6ORcE$IT*c$G_$V;$IT%O<EShI=ER_9J%O*_ET_O*`GR9WgLU'S‰'YOCW +V7LU;X$_EYgO*'ITCDSg*DY;9Wg?fl*`;;b;b+EIC8X*$TELET*$Gc$_=6$IT*_@YgO7O<a+9D$TE_EWD;E[7O_;YgO*7GO6-WIV7bM $S<9Sh*JVKD_$T`GRLT:TE5-;9WgL;b+$TE>GS$6S;bMÑ¿Ð_=ffl;J[;D$GT*$TEJX$KT`GRIV+SD6T;$TE<S‰-W`GR<EVMTE :ZE$V+b;OT_.WD;9WgCW<9<T9-S6_+;b;LTD7T;T;T-T7Va6D_,@TRb;6T;$TELET*:ZE$V+DZ'bMCODT*ÐñÞïñòíð_=ffl;7;

¼Å¦ĹÊÂij¼ÊĶʼ»čIJ¼ ·Ì¹·ÅÐIJ¼ '5<6W  9JIEEK9Wg¶%O*Ñ¿Ð 9WgEO_ETOD[%T*M;T+RL6bLc=c6c$G%;T6cM;$fOD[9Wg@I$_ET-TI_EYOb<AT%TI_GYO6_MGYO*`6*9Z$'; +REICCYO$S;LET*LEE'`GR9U*T;b;M;T9Wg%O*_ETbM_7fC$UGS*'ITCLTCTE8'V68X*=ERaD-;%O* :EECJTL7E=ER_9J-T7V`GRaG$%O*_ET_=ffl;LU'S‰>CCW'ITC?fl;ODT$bMÑ¿Ð%O*_ETCWE[=:EEC %O*'ITC_=ffl;L8T<S;9WgCVb-`7_@WD*>GV7<S53V79Wg_$*$T+`GR>G*T;IV-T$TE'Z5BT@L[*_9T;Sh; MT$`7ODT$_Mf;Ñ¿Ð_=ffl;L8T<S;9WgEIC@GS*@I$_ET9Z$';b;$TELET*$TE_=GWgD;`=G*`GR>G$ER9< b;9T*<I$bM$S<LS*'Cc9D`GRLS*'CaG$_@YgObM_ET_=ffl;ѿз¿òðæëâððÐàåììéãìï¿âññâï Éæãâ¿âññâïÐìàæâñöODT*`9+EV*`GR_ETc=8X*+Z6;Sh;c6_CYgO_ET9Z$';EIC`E*EICb+$S;'ES<

T H A M M A S A T B U S I N E S S S C H O O L 12 80 YEARS of PIONEERING

 '5R@T5V-DJTL7E`GR$TE<S‰-W CMTIV9DTGSD:EECJTL7E¥ÑåÞêêÞðÞñ¿òðæëâðð ÐàåììéªÑ¿Ð¦_=ffl;>[;Ub;;IS7$EEC$TEJX$KT6T; <EVMTE:ZE$V+%O*=ER_9J+T$$TEES*LEE'_;YhOMT MGS$L[7E`GRIV:W$TE_EWD;$TELO;9Wg9S;LCSD9S;7O $TE_=GWgD;`=G*%O*aG$_@YgO>GV7<Z'GT$E9WgCW'Z5LC<S7V _=ffl;9Wg7O*$TE%O*7GT6CWaG$9SJ;9Wg$IT*c$G @EOC$TIL[$TE_=ffl;>[<EVMTEb;O;T'7<;_I9W$TE 9U*T;9Sh*b;`GR7T*=ER_9J Innovative Business Education Ñ¿Ð_=ffl;L8T<S;`M*`E$b;=ER_9Jc9D9Wg$O7Sh*  a'E*$TE=EV‰‰Ta9<EVMTE:ZE$V+BT''gU¥Ê¿¾¦  a'E*$TE=EV‰‰Ta9LUMES<>[<EVMTE¥ÕÊ¿¾¦  a'E*$TE=EV‰‰Ta9$TE7GT6   BT'BTKTOS*$FK¥ÊÆʦ a'E*$TE=EV‰‰Ta9:ZE$V+OLS*MTEVC9ES@D¥ÊϦ  a'E*$TE=EV‰‰T7EWBT'BTKTOS*$FK¥¿¿¾¦  a'E*$TE'I<7EWªa99T*$TE<S‰-W  `GR<EVMTE:ZE$V+¥Æ¿Êͦ _@YgObM;S$JX$KTCWaG$9SJ;9Wg$IT*c$G LTCTE8ES<CYO$S<aG$9Wg_=GWgD;`=G*c6Ñ¿Ð@DTDTC ODT*cC  MD 6DZ *9hS +R@ gW 4;T;I S 7$EEC$TE_E S D;$TELO; W ODT*7O_;YgO*_-;$TEbM;S$JX$KT_EWD;BTKT9WgLTC $TEOO$`<<MGS$L[7EEIC$S<O*'$E:ZE$V+ER6S<`;IM;T $TELET*MGS$L[7Eb;GS$K5RÁòÞéÁâäïââÍïìäïÞê $S<CMTIV9DTGSDb;7T*=ER_9J$TE+S6MT9Wg?$*T; b;<EVKS9-Sh;;Ub;7T*=ER_9JbM;S$JX$KT_=ffl;7; 80 YEARS of PIONEERING ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶË ´Í 2 5 6 0 13 2017

;O$_M;O+T$$TE_= Y 6$TE_E  D;$TELO;b;MG W $LS 7E;T;T-T7 [ Ñ¿ÐC V *LZ $TE_= [ ;L8T< ffl ;$TEJ S $KTER6 X <;T;T-T7 S V 6ID$TELET*'ITCEICCYO$S<L8T<S;$TEJX$KT-Sh;;Ub;9Z$9IW=9SgIaG$$ITµ­`M*b;`7GR=Ñ¿ÐES<;S$JX$KT`G$_=GWgD; +T$7T*=ER_9JCT$$IT®´­';`GRL*;S$JX$KTc9Dc=_EWD;b;7T*=ER_9J6ID+U;I;b$G_'WD*$S;'5T+TEDCW>G*T;IV+SD 7W@VC@b;ITELTE;T;T-T7VODT*7O_;YgO*;O$+T$;Sh;Ñ¿ÐDS*LET*'ITCEICCYO$S<7T*=ER_9Jb;$TE`G$_=GWgD;'5T+TED $TE=ER-ZC$TE+S6$TE`%*%S;9T*:ZE$V+$TEIV+SDEIC$TELET*$E5WJX$KT$TEL*;S$JX$KT_%T?$*T;¥Æëñâïëðåæí¦ b;7T*=ER_9JEIC8  *$TE+ X 67S *JhS ;D[ 'ITC_=  ;_G ffl J6V T;$TEI  +VD`GR@ S 4;T: S E$Z +_@V OLgY *'CL S *I[ D¥ÀâëñâïìãÂõàâééâëàâ S ãìï¾äâæëä¿òðæëâððÞëáÀÞïâÁâóâéìíêâëñª¾¿ÀÁ¦_@YgOLET*'ITCEICCYO9T*IV-T$TEER6S<;T;T-T7V6T;;IS7$EEC b;L*'C> S L[*OTD [ 7GO6+;$TE@ Z 4;TMG S $LS 7E_@ [ OEO*E gY <;S $JS $KT+T$B X C[BT'OT_. V D;_- W ;MG  $LS 7EÄÂÊ¿¾9 [ EgWIC$  <S ÊöÞëêÞïÆëðñæñòñâìã¿Þëèæëä@S4;T;S$:ZE$V+b;BT'$TE_*V;$TE:;T'TE%O*=ER_9J_CWD;CT9Sh*DS*L;S<L;Z;bM ;S$JX$KT9Z$ER6S<`GR'5T+TED+S6$V+$EEC9T*IV-T$TEb;ER6S<;T;T-T7VEIC$S<CMTIV9DTGSD7T*=ER_9JODT*LCgU_LCO Internationalization  6ID$V+$EEC6S*$GTI`GR$TELET*'ITC LSC@S;:$S<L8T<S;$TEJX$KT7Sh*`7ER6S<CS:DCc= +;O6CJ Z $KTb; X =ER_9J7T*eb;_O_-  D`GR9I W =OW ;e gY ODT*7O_;YgO*Ñ¿Ð_-YgOITb;O;T'7OS;b$G+RCW ;S$JX$KT7T*-T7V_@VgC+U;I;%Xh;ODT*EI6_EfI`GR $TIL['ITC_=ffl;;T;T-T7VODT*_7fC9Wg T H A M M A S A T B U S I N E S S S C H O O L 14 80 YEARS of PIONEERING

§%OC[G5_6YO;LV*MT'C¯­®µ9WgCT·åññí𷬬âë«ôæèæíâáæÞ«ìïä¬ôæèæ¬ÑïæíéâÜÞààïâáæñÞñæìë Ñ¿Ðc6_%TL[$ER<I;$TEES<EO*'Z5BT@$TEJX$KTER6S<;T;T-T7V`GRc6ES<$TEES<EO*CT7E2T;ÂÎÒÆÐ ¥ÂÃÊÁÎòÞéæñöÆêíïìóâêâëñÐöðñâê¦b;=¯­®¯+T$;Sh;b;=¯­®´c6ES<$TEES<EO*CT7E2T;¾¾Àп¥Ñåâ¾ððìàæÞñæìë ñì¾áóÞëàâÀìééâäæÞñâÐàåììéðìã¿òðæëâðð¦;S<_=ffl;`M*_6WDIb;=ER_9Jc9D9Wgc6ES<$TEES<EO*9Sh*ER<<'YO9Sh*ER6S< =EV‰‰T7EW=EV‰‰Ta9`GR=EV‰‰T_O$;O$+T$;Sh;b;_6YO;@FJ+V$TD;¯­®µDS*c6ES<$TEES<EO*CT7E2T;¾Ê¿¾ ¥¾ððìàæÞñæìëìãÊ¿¾ð¦.*_=gX ;CT7E2T;;T;T-T7 ffl LUME V <=E S ‰‰Ta96 V T;<E  MTE: V E$Z ++ V *;X <IS T оÏ_=;L8T< ffl ;`M S *`E$  `GR`M*_6 DIb;=ER_9Jc9D9 W CgWL8T;RÐîåìèá¿îëóê½ßßîáàåðáà¾ñïåêáïïÏßäëëè W 6ID$TEES<EO*9Wg'E<8I;+T$ CT7E2T;;T;T-T7VIT6ID$TEJX$KT<EVMTE:ZE$V+9Sh*;Wh+T$+U;I;®°©³´­L8T<S;9SgIaG$9Wg+S6$TEJX$KT6T;<EVMTE:ZE$V+ CW_@WD*¶­L8T<S;9Wgc6ES<$TEES<EO*'Z5BT@b;ER6S<ÑïæíéâÀïìôë¾ààïâáæñÞñæìë§ International Accreditations 80 YEARS of PIONEERING ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶË ´Í 2 5 6 0 15

Advanced Executive Education ;O$+T$$TE_EWD;$TELO;b;ER6S<=EV‰‰T7T*e`GIÑ¿Ða6DJ[;DbM'U=EX$KT`GR@S4;T>[<EVMTE9T* :ZE$V+¤ÐäÝééÝïÝð¿ëêïñèðåêãÊáðóëîçåêãÝêà¿ëÝßäåêã¿áêðáî©¿ËÊ¿¥_=ffl;_EYO:*b;$TEEICCYO$S<O*'$E :ZE$V+7T*e9Sh*%O*=ER_9Jc9D`GR7T*=ER_9J9WgCW2T;6U_;V;$TEb;=ER_9Jc9D_@YgObM<EV$TE6T;$TEbM'U=EX$KT $TE@S4;T<Z'GT$Eb;9Z$ER6S<оÏ_=ffl;L8T<S;`M*`E$9WgEV_EVgCMGS$L[7E@S4;T>[<EVMTE¤Éåêåɾ½¥CT7Sh*`7=®±®± +;_=ffl;7;`<<%O*a'E*$TE@S4;T>[<EVMTEER6S<L[*b;=ER_9Jc9D =++fl <Z ;ÀÌËÀbM S <E $TE6 V T;$TE@  4;T> S <E[ MTE6 V IDMG  $LS 7E7 [ T*e=  GRCT$$I  T®­­MG  $LS 7EEIC9 [ *$TE hS OO$`<<MG$LS 7E$TE? [ $O<EC@  4;T7TC'ITC7 S O*$TE%O*O*'  $EBTD;O$¥ÆëªÅìòðâÑïÞæëæëä¦a6DC  >W<E[ MTE> V T; $TEO<EC=GRCT$$IT²©­­­';;O$+T$;Sh;ÀÌËÀDS*c6%DTD%O<_%7$TEbM<EV$TE'EO<'GZC:ZE$V+b;$GZC =ER_9JÀÉÊÓOW$6ID T H A M M A S A T B U S I N E S S S C H O O L 16 80 YEARS of PIONEERING

 °Íܱ¼¼ºĹÊÂij¼č Ô¼ÊÔ§ÏÜÅÔºÅײ Ê¼°Ë¦Ê²Ô·ÏÜÅ´¼È§Ê§²  LU;X$;Wh8[$=G[$?fl*>T;$TE_EWD;$TELO;b;MO*_EWD;b;$V+$EEC`GRb;9Z$aO$TL9Wg_=ffl;c=c6  9Z$e=Ñ¿Ð+X*CWa'E*$TE;U;S$JX$KTG*@Yh;9Wg_@YgO9U*T;_'WD*<T_'WD*cMG$S<IVLTM$V+-ZC-;²_6YO;_7fC'YO_IGT 9Wg;S$JX$KT+Rb-$S<IVLTM$V+-ZC-;9Wg7$G*9U*T;EIC$S;9U*T;$S;ODT*M;S$6ID'ITC@DTDTC9Wg+REIC`$=fl‰MTbM$S< IVLTM$V+-ZC-;+;IS;LVh;LZ6a'E*$TEIVLTM$V+-ZC-;7T*DVhCOO$>GV7BS53CW$TE@S4;Tc=c$G+;'T6cC8X*9WgLU'S‰IVLTM$V+ _MGT;Wh+RDY;OD[<;%T%O*7SI_O*c6ODT*DSg*DY;<;'ITCE[`GRIV:W$TE9U*T;bMC9Wgc6ES<$TE`<*=fl;`GR8TD9O6L[$S;`GR$S; $ER<I;$TE_MGT;Wh8[$_EWD$IT…:EECJTL7EaC_6G :EECJTL7EaC_6G7O*$TEIT*ET$2T;'ITCE['ITC_%Tb+9WgGX$.Xh*b;$TE9U:ZE$V+bM$S<-ZC-;-ZC-;+X*c6ES<'ITCE[ b;_EYgO*$TE'I<'ZC'Z5BT@$TE'U;I57;9Z;$TE9U<S‰-W_@YgObME[L8T;$TE5%O*$V+$TE7GO6_IGT9Sh*;Wh_@YgOLET*'ITC _7V<a7ODT*DSg*DY;bM$S<$V+$TE>G=ET$0-S6_+;b;_EYgO*%O*ETDc6$TE=ES<=EZ*>GV7BS53$TE_%T8X*-O*9T*bMCeb;$TE %TD$TELET*'ITCEICCYO$S<@S;:CV7E9Sh*+T$BT'ET-$TE`GR_O$-; Thammasat Model 80 YEARS of PIONEERING ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶË ´Í 2 5 6 0 17

®­=`GI9Wg:EECJTL7EaC_6G@VL[+;IT$TE9U*T;_'WD*<T_'WD*cMG$S<-ZC-;_=ffl;9VJ9T*9Wg+R9UbMIVLTM$V+-ZC-; _%C`%f*ODT*DSg*DY;IV:W$TE;Wh+X*8[$%DTDc=L['ITCEICCYO+T$@S;:CV7E9WgCW=ES-‰T$TE9U*T;_6WDI$S;9Sh*:;T'TEOOCLV;`GR LCT'C_@O;- gY C-;+ Z *MI S 6ERDO*9 S $UG gW *9UbM S :EECJTL7E  aC_6Gc6  E<$TE%DTDc=L S I[LTM$ V +-V C-;9 Z I=ER_9Jb;O;T'7O gS ;b$G S  T H A M M A S A T B U S I N E S S S C H O O L 18 80 YEARS of PIONEERING

 b;`7GR=Ñ¿ÐbM$TEL;S<L;Z;`GR>GS$6S;bM;S$JX$KT_%TL[_I9W$TE=ER$I67T*e9Sh*ER6S<-T7V`GR;T;T-T7V ;S$JX$KT%O*Ñ¿Ð=ERL<'ITCLU_Ef+b;`9<+R9Z$_I9W_-;$TE_=ffl;`-C= aG$$TE=ER$I6`>;:ZE$V++T$_I9WÄéìßÞé ÊììñÀìïí©ËâôÓâëñòïâÀåÞêíæìëðåæíÀìêíâñæñæì멾ðæÞÓâëñòïâÀåÞééâëäâ$TE`%*%S;`$c%=fl‰MT9T*:ZE$V+ +T$ÄéìßÞé¿òðæëâððÀÞðâÀìêíâñæñæìë©ÒÌ¿ªËÒÐÀÞðâÀìêíâñæñæìë©ÊàÄæééÊÞëÞäâêâëñÆëñâïëÞñæìëÞéÀÞðâ Àìêíâñæñæì멾éßâïñÞÆëñâïëÞñæìëÞé¿òðæëâððÀìêíâñæñæì멾оËÏæðèÆëñâééæäâëàâÀåÞééâëäâ_=ffl;7; Global Reputation $TE_EWD;$TELO;9Wg_;;b;_EYgO*'ITC'V6LET*LEE' $TEIV_'ETRM9WgGX$.Xh*`GR$TE;U_L;OODT*CYOOT-W@7GO6+; $TEL;S<L;Z;+T$'5RQ`GR'5T+TED9UbM;S$JX$KT%O*Ñ¿Ð =ERL<'ITCLU_Ef+`GR9UbM-YgO_LWD*Ñ¿Ð_=ffl;9WgDOCES<ODT*L[* b;ER6S<;T;T-T7V 80 YEARS of PIONEERING ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶË ´Í 2 5 6 0 19

Career Counseling Center (CCC)9UM;T9Wg _=ffl;M;ID*T;MGS$%O*Ñ¿Ð_@YgO>GS$6S;$TE`LI*MT`GR LET*'ITCEICCYO$S<@S;:CV7E9T*:ZE$V+7GO6+;JVKD_$T EIC9Sh*$TE_7EWDC'ITC@EOC;S$JX$KTbMCW9S$KR`GR =ERL<$TE59Wg_MCTRLC9Wg+REO*ES<$S<aO$TL9Wgc6ES<+T$ @S;:CV7E9T*:ZE$V+%O*Ñ¿Ð  $TE_-OC7 gY O$ <O*' S $E:  E$Z +_=V ;M; ffl *b;M gX Ib+ S 'ITCLU_Ef+%O*L8T<S;$TEJX$KT-Sh;;U6T;<EVMTE :ZE$V+9SgIaG$_-;_6WDI$S<9WgÑ¿Ðc6LET*'ITCLSC@S;: $S<O*'$E:ZE$V+CT$$ITµ­O*'$E9Wgc6G*;TCÊÌÒ 'ITCEICCYO9T*IV-T$TE9UbM;S$JX$KTc6CWaO$TL _EWD;E[+T$;S$:ZE$V+9WgCT$=ERL<$TE5MGS$L[7Ec6 ES<$TEOO$`<<EIC$S;_@YgObMLO6'GO*$S<aG$$TE 9U*T;+EV*7GO6+;;S$JX$KTc6CWaO$TLES<9Z;$TE JX$KT?$*T;`GR_=ffl;LI;M;Xg*b;O*'$EMGS*+< $TEJX$KTOW$6ID Corporate Connections T H A M M A S A T B U S I N E S S S C H O O L 20 80 YEARS of PIONEERING

6ID=ES-‰T$TE+S6$TEJX$KT%O*Ñ¿Ð9WgLO6'GO*$S<O*'$E`M*;Wh 9WgCZ*$TEJX$KT9Wg_;;LET*'ITCDSg*DY;9Sh*b;`*_JEK2$V+LS*'C`GR LVg*`I6GOC6ID+EVD:EEC`GR'ITCES<>V6-O<7OLS*'CMGS$L[7E `GR$V+$EEC7T*e9WgÑ¿Ð+X*CW$TELO6=ERLT;_EYgO*+EVD:EEC`GR 'ITCES<>V6-O<7OLS*'C_%Tc=6ID_LCO9Sh*;Wh_=ffl;$TE7O$DhUb; BTERM;T9Wg9Wg+R_=ffl;>[-Wh;ULS*'Cb;_EYgO*6S*$GTI7TC`;I9T* ÑåÞêêÞðÞñÐíæïæñM;Xg*b;@S;:$V+9WgLU'S‰%O*Ñ¿Ð $TE_=;M; ffl *b;LCT- gX $ÍÆÊLE V T*aO$TLbM  Ñ¿ÐOD  T*$I  T*%IT*b;  $TE`G$_=GWgD;;S$JX$KT$TELET*'ITCEICCYO9T*IV-T$TEb;9Z$ E[=`<<$S<L8T<S;$TEJX$KT6T;<EVMTE:ZE$V+ER6S<ôìïéáªàéÞðð 9SgIaG$DVg*$IT;Sh;Ñ¿ÐDS*c6ES<_$WDE7V+T$LCT-V$bM_=ffl;_+TBT@ +S6$TE=ER-ZC=ER+U=%O*ÍÆÊb;=¯­®¶;S<_=ffl;L8T<S;$TEJX$KT `M*`E$%O*_O_-WD9Wgc6ES<_$WDE7V;Wh`GR_=ffl;aO$TL6W9WgÑ¿Ð+R`L6* bML8T<S;LCT-V$_Mf;'ITC$TIM;T%O*Ñ¿Ð`GR$ER-S<'ITC EICCYO+T$L8T<S;LCT-V$%O*ÍÆÊ7Oc=b;O;T'7 Global Partners 3!2»É¦Ô´Đ²Â¯Ê³É² Ê¼ĹΠÁÊÔIJÍ»Àײ´¼ÈÔ°ĹØ°» °ÍÜØIJĊ¼É³Ô¾ÏÅ ×ÃĊÔ´Đ²ÂºÊ§Ì ¡Å¦/(,/@QSMDQRGHO HM(MSDQM@SHNM@K,@M@FDLDMS¨ÎÜ¦Ô´Đ²Ô£¼ÏÅ¡ĉÊ» ¡Å¦Â¯Ê³É² Ê¼ĹΠÁʧÉݲ²ËĶÊ °ÉÜÀÖ¾  3!2Ô´Đ²Â¯Ê³É² Ê¼ĹΠÁÊÕÃĉ¦Õ¼ ×²´¼ÈÔ°ĹØ°» °ÍÜØIJĊ¼É³ Ê¼£ÉIJÔ¾ÏÅ ×ÃĊÔ´Đ²ÂºÊ§Ì ¡Å¦4- /1,$ 3GD/QHMBHOKDRNE1DRONMRHAKD ,@M@FDLDMS$CTB@SHNMijÉݦÕijĉ´ā 80 YEARS of PIONEERING ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶË ´Í 2 5 6 0 21

µÑĊ³¼ÌÃʼ£®È Adminstration 01 01 ¼Å¦ĹÊÂij¼ÊĶʼ»čIJ¼ ·Ì¹·ÅÐIJ¼ RRNBH@SD/QNEDRRNQ/HONO4CNQM/G # '5<6W Dean

¼Å¦ĹÊÂij¼ÊĶʼ»čÀÌ°»ÊIJĉʲ±Ë¼¦ Ñ¾ RRNBH@SD/QNEDRRNQ6HS@X@#@MSG@LQNMFJTK 02 EO*'5<6W? TD<EVMTE ¾ððìàæÞñâÁâÞëãìï¾áêæëæðñïÞñæìë µÑĊ§ĉÀ»ĹÊÂij¼ÊĶʼ»čĹй¾É Á®čÔ¾ÌĹÕ ĊÀĹ¼Í RRHRS@MS/QNEDRRNQ2TO@KTBJ+DQSJ@DVRQH 03 EO*'5<6W? TD$TE_*V; ¾ððìàæÞñâÁâÞëãìïÃæëÞëàâ µÑĊ§ĉÀ»ĹÊÂij¼ÊĶʼ»čIJ¼ IJÀ¦×Ķþĉű²À®Ì§»č RRHRS@MS/QNEDRRNQ#T@MFI@H+NQSG@M@U@MHBG/G # 04 EO*'5<6W? TD$V+$TE@V_JK ¾ððìàæÞñâÁâÞëãìïÐíâàæÞéÍïìçâàñð µÑĊ§ĉÀ»ĹÊÂij¼ÊĶʼ»čIJ¼ ÂмÉij²č°Í¼¥Ê¹Ì³Ê¾ RRHRS@MS/QNEDRRNQ2TQ@S3DDQ@J@OHA@K/G # 06 EO*'5<6W? TDIV_9JLSC@S;: ¾ððìàæÞñâÁâÞëãìïÆëñâïëÞñæìëÞé¾ããÞæïð ¼Å¦ĹÊÂij¼ÊĶʼ»čĹ¼Íº¼É Å̲°ÐĶɲ°¼č»¦ RRNBH@SD/QNEDRRNQ2QHRNLQTJ(MSNITMXNMF 05 ES$KT$TEb;7U`M;*EO*'5<6W? TDIV-T$TE ¾àñæëä¾ððìàæÞñâÁâÞëãìï¾àÞáâêæà¾ããÞæïð ¼Å¦ĹÊÂij¼ÊĶʼ»čIJ¼ ¯ʷ¼ÖŹÊÂʲ²°č RRNBH@SD/QNEDRRNQ2@SG@ONQM.O@R@MNM/G # 07 >[-ID'5<6W6T;$TEIV+SD ¾ððæðñÞëñÁâÞëãìïÏâðâÞïàå 02 04 06 03 05 07

ĹÊÂij¼ÊĶʼ»čIJ¼ À¼¹É°¼Öij±²ÈÔ Áº /QNEDRRNQ6@Q@O@SQ3NCG@M@J@RDL/G # ²Ê»ĶÉ ¼ ½Ĺ«Ìà·Ê¼Ê·É²± Ð¾ ,Q "G@JJQHS/@Q@OTMS@JTK 01 05 ¼Ê»²Êº£®È ¼¼º Ê¼ µÑĊ°¼¦£Ð®ÀÐĴÌ´¼ÈĶË£®ÈÇ Member of Committee ¼Ê»²ÊºÃÀò É Ê¹Ê£ÂÊ¡ÊÀ Ċ §Ê Ì Head of Department µÑĊ§ĉÀ»ĹÊÂij¼ÊĶʼ»čIJ¼ Ĺ̾´·¼Ĺ¼ÍĶÉܲԷ§¼ RRHRS@MS/QNEDRRNQ2HKK@O@ONQM2QHITMODSBG/G # 01 MSIM;TBT'IV-T$TE<S‰-W¥¾À¦ ÅâÞá©ÁâíÞïñêâëñìã¾ààìòëñæëä ¼Å¦ĹÊÂij¼ÊĶʼ»čIJ¼ ·É²°ÌĹʹÊÀ³Ðij¼ RRNBH@SD/QNEDRRNQ/@MSHR@/@U@ATSQ/G # 02 MSIM;TBT'IV-T$TE_*V;¥Ã˦ ÅâÞá©ÁâíÞïñêâëñìãÃæëÞëàâ 03 MSIM;TBT'IV-T$TE7GT6¥ÊȦ ÅâÞá©ÁâíÞïñêâëñìãÊÞïèâñæëä ÅÊĶʼ»čIJ¼ ÂмÉij²čÖ£Å̲°¼Ê¦ Ñ¼ +DBSTQDQ2TQ@S*NHMS@Q@MFJTK/G # 04 MSIM;TBT'IV-TER<<LTEL;_9J_@YgO$TE+S6$TE¥ÊÆЦ ÅâÞá©ÁâíÞïñêâëñìãÊÞëÞäâêâëñÆëãìïêÞñæìëÐöðñâêð ¼Å¦ĹÊÂij¼ÊĶʼ»čIJ¼  ½ÁªÊ¼Éij²čÀÉĴ²ÂÐÀ¼¼® RRNBH@SD/QNEDRRNQ*QHSR@C@Q@S6@SS@M@RTV@M#/GHK.WNM

¼Å¦ĹÊÂij¼ÊĶʼ»č²Ì·É°±čĶÌij¼´¼È¦£č  RRNBH@SD/QNEDRRNQ-HOTSG)HSOQ@RNMJ ²Ê»§É»ÀÉĴ²čÅаɻÀ¼¼®č ,Q "G@HV@S4S@HV@M IJ¼ ·ÌÂ̬¾ÍÝÅʱ¼¼º /HRHS+DD@GS@L/G # ²Ê»À¼ÀÉĶ²čÂÐÀ£²±č ,Q 6NQ@V@S2TU@FNMCG@ ²Ê» Ìij̺ÊIJ̾ Ö ÀÌ° ,Q *HSH,@JHKNJJNVHS ²Ê»À̲ÌĶĹ̾ʺ¦£¾ ,Q 6HMHC2HK@LNMFJNK 02 06 03 07 04 08 ¼Å¦ĹÊÂij¼ÊĶʼ»čIJ¼ Ô²ij¼²¹ÊØÀ°»čÔ¾ÌĹĹÉ IJÌà»Ê³Ð§ÌijÈ RRNBH@SD/QNEDRRNQ-@SDM@OG@6@HKDQCR@J8@ATRGHS@/G # 05 MSIM;TLT%TIV-T$TE<EVMTEO*'$TE$TE=ER$O<$TE`GR9ES@DT$EC;ZKD¥ÊÌÂŦ ÅâÞá©ÁâíÞïñêâëñìãÌïäÞëæ÷Þñæìë©ÂëñïâíïâëâòïðåæíÞëáÅòêÞëÏâðìòïàâÊÞëÞäâêâëñ ÅÊĶʼ»čIJ¼ £º²č·É²±¼É Áč +DBSTQDQ*NLM!GTMC@Q@J/G # 06 MSIM;TLT%TIV-T<EVMTE$TE=1V<S7V$TE¥Ìʦ ÅâÞá©ÁâíÞïñêâëñìãÌíâïÞñæìëðÊÞëÞäâêâëñ ¼Å¦ĹÊÂij¼ÊĶʼ»čIJ¼ ·ÉĴ²č²¼ÍĹ¼ÍĹйÖÅÄʼ RRNBH@SD/QNEDRRNQ/@SM@QDD2QHRTOG@NK@QM/G #  07 MSIM;TLT%TIV-T$TE<EVMTE:ZE$V+ERMIT*=ER_9J aG+VL7V$L`GR$TE%;L*¥Æ¿ÉѦ ÅâÞá©ÁâíÞïñêâëñìãÆëñâïëÞñæìëÞé¿òðæëâðð© Éìäæðñæàð£ÑïÞëðíìïñ

26 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING µÑĊÅĻʲÀ» Ê¼Ö£¼¦ Ê¼µÑĊÅĻʲÀ» Ê¼ĹѲ»čÇ/QNFQ@L#HQDBSNQ"DMSDQ#HQDBSNQ IJ¼ À¼·¦ÁčĶɲ»Éܦ»Ï² 6NQ@ONMF)@MX@MFXTDM# ! µÑĊ§ĉÀ»ĹÊÂij¼ÊĶʼ»čIJ¼ ²··¼Ô¼ÏŦÀʲ̧ RRHRS@MS/QNEDRRNQ-NOONQM 1TMFV@MHS# ! ,@QJDSHMF µÑĊ§ĉÀ»ĹÊÂij¼ÊĶʼ»čIJ¼ ²Ìij̼Éij²´¼Í§ÊÔÀ§ RRHRS@MS/QNEDRRNQ-HSH1@SS@M@OQHBG@UDI/G #  ÅÊĶʼ»čIJ¼ ±Í¼§É»żЮԼÏŦĹ̼ÌÔ¾ÌĹ  +DBSTQDQ3DDQ@BG@H QTMQT@MFRHQHKDQS/G # µÑĊ§ĉÀ»ĹÊÂij¼ÊĶʼ»čÀ̹ÊIJÊijɲijÌ´¼È¹Ê RRHRS@MS/QNEDRRNQ6HO@C@3@MSHOQ@AG@ µÑĊ§ĉÀ»ĹÊÂij¼ÊĶʼ»čÀɲ§É»¡É²ijÍ RRHRS@MS/QNEDRRNQ6@MBG@H*G@MSH >[OU;ID$TEa'E*$TE=EV‰‰T7EW<EVMTE:ZE$V+MGS$L[7E;T;T-T7V¥¿¿¾¦ Áæïâàñìïìã¿Þàåâéìïðáâäïââæë¿òðæëâðð¾áêæëæðñïÞñæìë ¥ÆëñâïëÞñæìëÞéÍïìäïÞê¦ >[OU;ID$TEMGS$L[7E'I<7EWªa99T*$TE<S‰-W`GR<EVMTE:ZE$V+¥Æ¿Êͦ ÁæïâàñìïìãÆëñâäïÞñâá¿ÞàåâéìïðÞëáÊÞðñâïðÁâäïââÍïìäïÞê æë¿òðæëâððÞëá¾ààìòëñæëä >[OU;ID$TEa'E*$TE:ZE$V+OLS*MTEVC9ES@D¥Ï¦ ÁæïâàñìïìãÏâÞéÂðñÞñâ¿òðæëâððÍïìäïÞê >[OU;ID$TEa'E*$TE=EV‰‰Ta96T;<EVMTE:ZE$V+ ¥Ê¿¾©Ê¿¾ªÅÏÊ©ÕÊ¿¾¦ ÁæïâàñìïìãÊÞðñâïðÁâäïââæë¿òðæëâðð¾áêæëæðñïÞñæìë >[OU;ID$TEa'E*$TE=EV‰‰Ta99T*$TE<S‰-W¥Ê¾Í¦ ÁæïâàñìïìãÊÞðñâïìã¾ààìòëñæëäÍïìäïÞê >[OU;ID$TEa'E*$TE=EV‰‰Ta9LT%TIV-TER<<LTEL;_9J _@YgO$TE+S6$TE¥ÊÐÊÆЦ ÁæïâàñìïìãÊÞðñâïìãÐàæâëàâÍïìäïÞê æëÊÞëÞäâêâëñÆëãìïêÞñæìëÐöðñâêð

80 YEARS of PIONEERING 27 ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶ ĻÊ ´ā    ÅÊĶʼ»čIJ¼ Âм·Ì§»č·¼ÃºÂÌ°±Ìà +DBSTQDQ2TQ@OHS/QNLRHS/G # µÑĊ§ĉÀ»ĹÊÂij¼ÊĶʼ»čIJ¼ ÅÉ©§IJÊüÏÅØÅIJĊÊÔĶ¼Ì©¼Ð ¡č RRHRS@MS/QNEDRRNQ MBG@C@ NQ HC@"G@QNDMQNNJ/G C  µÑĊ§ĉÀ»ĹÊÂij¼ÊĶʼ»čIJ¼ ±²ÀÉij¾Ìº´Ĉ·Ê®Ì§»č Ð¾ RRHRS@MS/QNEDRRNQ3G@M@VTS +HLO@MHSFTK/G #  ÅÊĶʼ»čIJ¼ Âа±Ì ¼ ÌܦՠĊÀ    +DBSTQDQ2TSGHJNQM*HMFJ@DV/G # ÅÊĶʼ»čIJ¼ ·Ê®ÐÀ¦Ĺč£Éº¹Ì¼Ê¼É Áč +DBSTQDQ/@MTVNMF*TLOHQ@QTRJ/G #  >[OU;ID$TEa'E*$TE=EV‰‰Ta99T*$TE7GT6 ¥MGS$L[7E;T;T-T7V¦¥ÊÆʦ ÁæïâàñìïìãÊÞðñâïìãÐàæâëàâÍïìäïÞê æëÊÞïèâñæëä¥ÆëñâïëÞñæìëÞéÍïìäïÞê¦ >[OU;ID$TEa'E*$TE=EV‰‰Ta9<EVMTE:ZE$V+ LT%TIV-T$TE+S6$TE:ZE$V+LT$G¥MGS$L[7E;T;T-T7V¦¥ÄÂÊ¿¾¦ ÁæïâàñìïìãÊÞðñâïìã¿òðæëâðð¾áêæëæðñïÞñæìëÍïìäïÞê æëÄéìßÞé¿òðæëâððÊÞëÞäâêâëñ¥ÆëñâïëÞñæìëÞéÍïìäïÞê¦ >[OU;ID$TEa'E*$TE=EV‰‰Ta99T*$TE_*V;¥MGS$L[7E;T;T-T7V¦¥ÊÆæ ÁæïâàñìïìãÊÞðñâïìãÐàæâëàâÍïìäïÞêæëÃæëÞëàâ ¥ÆëñâïëÞñæìëÞéÍïìäïÞê¦ >[OU;ID$TEa'E*$TE=ES-‰T6ZK0W<S53V7LT%TIV-T<EVMTE:ZE$V+¥Íå«Á«¦ ÁæïâàñìïìãÁìàñìïìãÍåæéìðìíåöÍïìäïÞêæë¿òðæëâðð¾áêæëæðñïÞñæìë >[OU;ID$TEJ[;DbM'U=EX$KT`GR@S4;T>[<EVMTE9T*:ZE$V+`M* CMTIV9DTGSD:EECJTL7E¥ÀÌËÀÑåÞêêÞðÞñ¦ ÁæïâàñìïìãÑåÞêêÞðÞñÀìëðòéñæëäËâñôìïèæëäÞëáÀìÞàåæëä· ÀÌËÀÑåÞêêÞðÞñ >[OU;ID$TEJ[;D96LO<9S$KR6T;$TE+S6$TE `M*CMTIV9DTGSD:EECJTL7E¥ÐʾÏѦ ÁæïâàñìïìãÐàåìéÞðñæàÊÞëÞäâêâëñ¾íñæñòáâ ÏâîòæïâêâëñÑâðñ¥ÐʾÏѦ ÀâëñâïÞñÑåÞêêÞðÞñÒëæóâïðæñö

28 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING µ¾ Ê¼IJĻÊԲ̲¦Ê²°ÍÜÂĻʣɩײ¼Å³´ā Ê¼ĹΠÁÊ BBNLOKHRGLDMSRCTQHMFSGD B@CDLHB8D@Q  b;EO<=$TEJ  $KT¯²³­ '5R@T5 X -DJTL7E V `GR$TE<  ‰-S  DW *'*7O$D S T'ITC$ l TIM;  T6 T;I  -T$TEOD V T*7 O_; O* 6 gY ID*T;I  -T$TE+ V T`;$ 6 l *;S hW  ÁòïæëäñåâÞàÞáâêæàöâÞﯭ®´©ÑåÞêêÞðÞñ¿òðæëâððÐàåììéàìëñæëòâáñìÞàåæâóâðñâÞáöÞàÞáâêæàíïìäïâðð©ñåÞëèðñìæñð ÞàÞáâêæàôìïèÞëáÞààìêíéæðåêâëñð©ôåæàåàìòéáßâäïìòíâáßöâáòàÞñæìëÞééâóâé©áâíÞïñêâëñÞëáñöíâìãÞàñæóæñæâðÞðãìééìôð· ¼ÈIJɳ´¼Ì©©Êij¼Í 4MCDQFQ@CT@SDKDUDK   ¦Ê²ÀÌĶɻԼÏÜŦ   -TLADQNEQDRD@QBGOQNIDBSR   µ¾¦Ê²ÀÌĶÉ»°ÍÜØIJĊ¼É³ Ê¼ijͷ̺·čÔµ»Õ·¼ĉÔ¼ÏÜŦ    -TLADQNEOTAKHRGDCQDRD@QBGO@ODQR ¹Ê£ÂÊ¡ÊÀ̧Ê  ĶĻʲÀ² #DO@QSLDMS  LNTMS BT'IV-T$TE<S‰-WÀáìÝîðéáêðëâ½ßßëñêðåêã ° BT'IV-T$TE_*V;ÀáìÝîðéáêðëâÂåêÝêßá ³ BT'IV-T$TE7GT6ÀáìÝîðéáêðëâÉÝîçáðåêã ° LT%TIV-TER<<LTEL;_9J_@YgO$TE+S6$TEÀáìÝîðéáêðëâÉÝêÝãáéáêðÅêâëîéÝðåëêÏõïðáéï ­ LT%TIV-T$TE<EVMTEO*'$TE$TE=ER$O<$TE`GR9ES@DT$EC;ZKD ® ÀáìÝîðéáêðëâËîãÝêåöÝðåëê¨ÁêðîáìîáêáñîïäåìÝêàÄñéÝêÎáïëñîßáÉÝêÝãáéáêð LT%TIV-T<EVMTE$TE=1V<S7V$TEÀáìÝîðéáêðëâËìáîÝðåëêïÉÝêÝãáéáêð ­ LT%TIV-T$TE<EVMTE:ZE$V+ERMIT*=ER_9JaG+VL7V$L`GR$TE%;L* ² ÀáìÝîðéáêðëâÅêðáîêÝðåëêÝè¾ñïåêáïï¨ÈëãåïðåßïÝêàÐîÝêïìëîð ¹Ê£ÂÊ¡ÊÀ̧Ê ¼ÈIJɳ§ÊijÌ ¼ÈIJɳ²Ê²Ê§ÊijÌ #DO@QSLDMS -@SHNM@K+DUDK (MSDQM@SHNM@K+DUDK BT'IV-T$TE<S‰-WÀáìÝîðéáêðëâ½ßßëñêðåêã ¯µ ­ BT'IV-T$TE_*V;ÀáìÝîðéáêðëâÂåêÝêßá ¯ ³ BT'IV-T$TE7GT6ÀáìÝîðéáêðëâÉÝîçáðåêã ¯ ² LT%TIV-TER<<LTEL;_9J_@YgO$TE+S6$TE ® ° ÀáìÝîðéáêðëâÉÝêÝãáéáêðÅêâëîéÝðåëêÏõïðáéï  LT%TIV-T$TE<EVMTEO*'$TE$TE=ER$O<$TE`GR9ES@DT$EC;ZKD ² ° ÀáìÝîðéáêðëâËîãÝêåöÝðåëê¨Áêðîáìîáêáñîïäåì ÝêàÄñéÝêÎáïëñîßáÉÝêÝãáéáêð LT%TIV-T<EVMTE$TE=1V<S7V$TE ² ³ ÀáìÝîðéáêðëâËìáîÝðåëêïÉÝêÝãáéáêð  LT%TIV-T$TE<EVMTE:ZE$V+ERMIT*=ER_9JaG+VL7V$L`GR$TE%;L* ÀáìÝîðéáêðëâÅêðáîêÝðåëêÝè¾ñïåêáïï¨ÈëãåïðåßïÝêàÐîÝêïìëîð ¯ ¯ LT%TIV-T:ZE$V+OLS*MTEVC9ES@D ¯ ­ ÀáìÝîðéáêðëâÎáÝèÁïðÝðá¾ñïåêáïï

80 YEARS of PIONEERING 29 ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶ ĻÊ ´ā    ¹Ê£ÂÊ¡ÊÀ̧Ê ¼ÈIJɳ§ÊijÌ ¼ÈIJɳ²Ê²Ê§ÊijÌ #DO@QSLDMS -@SHNM@K+DUDK (MSDQM@SHNM@K+DUDK BT'IV-T$TE<S‰-W © ­ ÀáìÝîðéáêðëâ½ßßëñêðåêã  BT'IV-T$TE_*V; © ® ÀáìÝîðéáêðëâÂåêÝêßá  BT'IV-T$TE7GT6 © ­ ÀáìÝîðéáêðëâÉÝîçáðåêã  LT%TIV-TER<<LTEL;_9J_@YgO$TE+S6$TE © ² ÀáìÝîðéáêðëâÉÝêÝãáéáêðÅêâëîéÝðåëêÏõïðáéï  LT%TIV-T$TE<EVMTEO*'$TE$TE=ER$O<$TE`GR9ES@DT$EC;ZKD © ¯ ÀáìÝîðéáêðëâËîãÝêåöÝðåëê¨Áêðîáìîáêáñîïäåì ÝêàÄñéÝêÎáïëñîßáÉÝêÝãáéáêð  LT%TIV-T<EVMTE$TE=1V<S7V$TE ­ ° ÀáìÝîðéáêðëâËìáîÝðåëêïÉÝêÝãáéáêð LT%TIV-T$TE<EVMTE:ZE$V+ERMIT*=ER_9JaG+VL7V$L`GR$TE%;L* © ¯ ÀáìÝîðéáêðëâÅêðáîêÝðåëêÝè¾ñïåêáïï¨ÈëãåïðåßïÝêàÐîÝêïìëîð  þɠÂÑij¼Ö£¼¦ Ê¼ ¼ÈIJɳ§ÊijÌ ¼ÈIJɳ²Ê²Ê§ÊijÌ /QNFQ@L -@SHNM@K+DUDK (MSDQM@SHNM@K+DUDK a'E*$TE=EV‰‰T7EW<EVMTE:ZE$V+MGS$L[7E;T;T-T7V ´ ² Ðäá¾Ýßäáèëîïàáãîááåê¾ñïåêáïï½àéåêåïðîÝðåëê ¤ÅêðáîêÝðåëêÝèÌîëãîÝé¥  MGS$L[7E'I<7EW©a99T*$TE<S‰-W`GR<EVMTE:ZE$V+ ± © ÅêðáãîÝðáà¾ÝßäáèëîïÝêàÉÝïðáîïÀáãîááÌîëãîÝé åê¾ñïåêáïïÝêà½ßßëñêðåêã    Ê¼Ô¡ĊʼĉÀº²ĻÊÔ²ŵ¾¦Ê²°Ê¦À̧ʠʼÔ¼ÏÜŦ     -TLADQNEQDRD@QBGO@ODQOQDRDMS@SHNMR   µ¾¦Ê²²É ĹΠÁÊ°ÍܼĊʦ§ÏÜÅÔÂÍ»¦Ô¼ÏÜŦ   B@CDLHB V@QCR

30 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING ¼ÈIJɳ´¼Ì©©ÊÖ° &Q@CT@SDKDUDK   µ¾¦Ê²À̧ʠʼÔ¼ÏÜŦ   -TLADQNE@B@CDLHB@BGHDUDLDMSR a'E*$TE=EV‰‰Ta9:ZE$V+ ± ¯   ³­ OLS*MTEVC9ES@D ÊÞðñâïðÁâäïââæë ÏâÞéÂðñÞñâ¥ÊϦ a'E*$TE=EV‰‰Ta9  ®­µ ¯² ®²  ®±µ 6T;<EVMTE:ZE$V+ ÊÞðñâïðÁâäïââæë ¿òðæëâðð¾áêæëæðñïÞñæìë ¥Ê¿¾¦ a'E*$TE=EV‰‰Ta9  ¯°    ¯° 6T;<EVMTE:ZE$V+ _;;$TE<EVMTE 9ES@DT$EC;ZKD ÊÞðñâïðÁâäïââæë ¿òðæëâðð¾áêæëæðñïÞñæìë ôæñåÀìëàâëñïÞñæìë ìëÅòêÞëÏâðìòïàâ ÊÞëÞäâêâëñ ¥Ê¿¾ªÅÏʦ a'E*$TE=EV‰‰Ta9  ®¯ µ ®  ¯® LUMES<>[<EVMTE ÂõâàòñæóâÊ¿¾ a'E*$TE=EV‰‰Ta9      ¯¯ 9T*$TE<S‰-W ÊÞðñâïìã ¾ààìòëñæëä ÍïìäïÞê¥Ê¾Í¦ a'E*$TE=EV‰‰Ta9LT%T ± ®³     ² IV-TER<<LTEL;_9J _@YgO$TE+S6$TE ÊÞðñâïìãÐàæâëàâ ÍïìäïÞêæëÊÞëÞäâêâëñ ÆëãìïêÞñæìëÐöðñâêð ¥ÊÐÊÆЦ ÀÌ°»Ê²Ì·²±č Thesis/ Dissertation þɠÂÑij¼Ö£¼¦ Ê¼ Program ¦Ê²·ÉĴ²Ê ¼È³³£Åº·ÌÀÔijżč Computer System Development Õµ²·ÉĴ²Ê  Ê¼ĹΠÁÊÅÌÂ¼È Independent Study  Ê¼ĹΠÁÊ £ÀÊºÔ´Đ²Ø´ØIJĊ Feasibility Study ¦Ê²×ÃĊ£Ë´¼Î Áʱм ÌĶ Business Advisory Services ¦Ê²ÀÌĶÉ» Research Õµ²±Ð¼ ÌĶ Business Plan þɠÂÑij¼Ö£¼¦ Ê¼ ¼ÈIJɳ§ÊijÌ ¼ÈIJɳ²Ê²Ê§ÊijÌ /QNFQ@L -@SHNM@K+DUDK (MSDQM@SHNM@K+DUDK a'E*$TE=EV‰‰Ta9:ZE$V+OLS*MTEVC9ES@D © ­ ÉÝïðáîïÀáãîááåêÎáÝèÁïðÝðá¤ÉÎÁ¥  a'E*$TE=EV‰‰Ta9LT%TIV-TER<<LTEL;_9J_@YgO$TE+S6$TE © ° ÉÝïðáîëâÏßåáêßáÌîëãîÝéåêÉÝêÝãáéáêð ÅêâëîéÝðåëêÏõïðáéï¤ÉÏÉÅÏ¥  a'E*$TE=EV‰‰Ta99T*$TE_*V;MGS$L[7E;T;T-T7V © ® ÉÝïðáîëâÏßåáêßáÌîëãîÝéåêÂåêÝêßá¤ÅêðáîêÝðåëêÝèÌîëãîÝ饤ÉÅÂ¥  þɠÂÑij¼Ö£¼¦ Ê¼ ¼ÈIJɳ§ÊijÌ ¼ÈIJɳ²Ê²Ê§ÊijÌ /QNFQ@L -@SHNM@K+DUDK (MSDQM@SHNM@K+DUDK a'E*$TE=EV‰‰Ta9:ZE$V+OLS*MTEVC9ES@D ® © ÉÝïðáîïÀáãîááåêÎáÝèÁïðÝðá¤ÉÎÁ¥  a'E*$TE=EV‰‰Ta9LT%TIV-TER<<LTEL;_9J_@YgO$TE+S6$TE © ­ ÉÝïðáîëâÏßåáêßáÌîëãîÝéåêÉÝêÝãáéáêð ÅêâëîéÝðåëêÏõïðáéï¤ÉÏÉÅÏ¥     Ê¼²ĻÊÔ²ŦʲÀÌĶɻԼÏÜŦ   -TLADQNEQDRD@QBGO@ODQOQDRDMS@SHNMR   µ¾¦Ê²ÀĶÌ»°É ØIJÜÍ ¼Ċ ³ Ê¼ij É ·Í º·Ì Ôµ»Õ·¼ č Ô¼ ĉ Ŧ ÜÏ   -TLADQNEOTAKHRGDCQDRD@QBGO@ODQR

80 YEARS of PIONEERING 31 ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶ ĻÊ ´ā    ¼ÈIJɳ´¼Ì©©ÊÔÅ  /NRSFQ@CT@SDKDUDK    Ê¼²ĻÊÔ²ŦʲÀÌĶɻԼÏÜŦ   -TLADQNEQDRD@QBGO@ODQOQDRDMS@SHNMR   µ¾¦Ê²ÀĶÌ»°É ØIJÜÍ ¼Ċ³ Ê¼ij É ·Í º·Ì Ôµ»Õ·¼ č Ô¼ ĉ Ŧ ÜÏ   -TLADQNEOTAKHRGDCQDRD@QBGO@ODQR    Ê¼ĶIJ É Ķ ¼¼ºÔ· Ì ÅÔ¼ ÜÏ ºÂ¼ Ì Ê¦´¼È³ Ê¼® Ċ °Ê¦À č §Ê Ê¼Õ¾ÈÀ Ì §Ê§ Ì ·Õ  Í ²ĉ  ĹÉ  ÁÊ£¼ Î ¦ÝÉ   -TLADQNENSGDQ@B@CDLHB@BSHUHSHDRENQ!QN@CDMHMFRSTCDMSRð@B@CDLHB   @MCOQNEDRRHNM@KDWODQHDMBDR þɠÂÑij¼Ö£¼¦ Ê¼ ¼ÈIJɳ§ÊijÌ ¼ÈIJɳ²Ê²Ê§ÊijÌ /QNFQ@L -@SHNM@K+DUDK (MSDQM@SHNM@K+DUDK a'E*$TE=EV‰‰T_O$MGS$L[7E<EVMTE:ZE$V+6ZK0W<S53V7 ­ ² þɠÂÑij¼Ö£¼¦ Ê¼ ¼ÈIJɳ§ÊijÌ ¼ÈIJɳ²Ê²Ê§ÊijÌ /QNFQ@L -@SHNM@K+DUDK (MSDQM@SHNM@K+DUDK a'E*$TE=EV‰‰T_O$MGS$L[7E<EVMTE:ZE$V+6ZK0W<S53V7 © ° þɠÂÑij¼Ö£¼¦ Ê¼ ĶĻʲÀ² /QNFQ@L LNTMS a'E*$TE=EV‰‰T_O$MGS$L[7E<EVMTE:ZE$V+6ZK0W<S53V7 ° þɠÂÑij¼Ö£¼¦ Ê¼ ĶĻʲÀ² /QNFQ@L LNTMS a'E*$TE=EV‰‰Ta9:ZE$V+OLS*MTEVC9ES@DÉÝïðáîïÀáãîááåêÎáÝèÁïðÝðá¤ÉÎÁ¥ ­­ a'E*$TE=EV‰‰Ta96T;<EVMTE:ZE$V+ÉÝïðáîïÀáãîááåê¾ñïåêáïï½àéåêåïðîÝðåëê¤É¾½¥ ² a'E*$TE=EV‰‰Ta96T;<EVMTE:ZE$V+_;;$TE<EVMTE9ES@DT$EC;ZKDÉÝïðáîïÀáãîááåê ® ¾ñïåêáïï½àéåêåïðîÝðåëêóåðä¿ëêßáêðîÝðåëêëêÄñéÝêÎáïëñîßáÉÝêÝãáéáêð¤É¾½©ÄÎÉ¥ a'E*$TE=EV‰‰Ta9LlTMES<>[<EVMTEÁôáßñðåòáɾ½ ® a'E*$TE=EV‰‰Ta99T*$TE<S‰-WÉÝïðáîëâ½ßßëñêðåêãÌîëãîÝé¤É½Ì¥ ¯ a'E*$TE=EV‰‰Ta9LT%TIV-TER<<LTEL;_9J_@YgO$TE+S6$TEÉÝïðáîëâÏßåáêßáÌîëãîÝé ® åêÉÝêÝãáéáêðÅêâëîéÝðåëêÏõïðáéï¤ÉÏÉÅÏ¥ a'E*$TE=EV‰‰Ta99T*$TE7GT6MGS$L[7E;T;T-T7VÉÝïðáîïÀáãîááÌîëãîÝéåêÉÝîçáðåêã ¤ÅêðáîêÝðåëêÝèÌîëãîÝ饤ÉÅÉ¥ ² a'E*$TE=EV‰‰Ta99T*$TE_*V;MGS$L[7E;T;T-T7VÉÝïðáîëâÏßåáêßáÌîëãîÝéåêÂåêÝêßá ­ ¤ÅêðáîêÝðåëêÝèÌîëãîÝ饤ÉÅÂ¥ a'E*$TE=EV‰‰Ta9<EVMTE:ZE$V+MGS$L[7E;T;T-T7VÉÝïðáîëâ¾ñïåêáïï½àéåêåïðîÝðåëêÌîëãîÝé ² åêÃèëÞÝè¾ñïåêáïïÉÝêÝãáéáêð¤ÅêðáîêÝðåëêÝèÌîëãîÝ饤ÃÁɾ½¥    Ê¼ĶIJ É Ķ ¼¼ºÔ· Ì ÅÔ¼ ÜÏ ºÂ¼ Ì Ê¦´¼È³ Ê¼® Ċ °Ê¦À č §Ê Ê¼Õ¾ÈÀ Ì §Ê§ Ì ·Õ  Í ²ĉ  ĹÉ  ÁÊ£¼ Î ¦ÝÉ   -TLADQNENSGDQ@B@CDLHB@BSHUHSHDRENQ!QN@CDMHMFRSTCDMSRð@B@CDLHB   @MCOQNEDRRHNM@KDWODQHDMBDR

34 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING ´ā  '5R@T5V-DJTL7E`GR$TE<S‰-W CMTIV9DTGSD:EECJTL7E D$2T;R+T$ `>;$IV-T$TE<S‰-W _=ffl;    '5R@T5V-DJTL7E`GR$TE<S‰-W _@VgC`>;$@T5V-DJTL7E MGS$L[7E$TEJX$KT± = _CYgOLlT_Ef+$TE JX$KT`GIc6ES<=EV‰‰T7EW9T*@T5V-DJTL7E ´ā  D$_G$$TEJ V $KT`<<=ER$TJ; X D<W 7E`GR+ S 6MG S $LS 7E$TEJ [ $KTbMC X _= ;`<<=E ffl ‰‰T7E V MGW $LS 7E±= [ 9 *`>;$ Sh    $TE<S‰-W`GR@T5V-DJTL7E_=6LO;ER6S<=EV‰‰Ta9BT'$GT*IS; ´ā  `>;$@T5-DJTL7E V b;ER6  <=E S ‰‰T7E V c6W `< *OO$_=  ;°LT%TI ffl -T=ER$O<6 V IDLT%T$TE<E  MTE$TE_* V ;`GR V    $TE:;T'TELT%T$TE7GT6`GRLT%T$TE<EVMTE9SgIc= ´ā _=GWgD;`=G*MGS$L[7EER6S<=EV‰‰T7EW_=ffl;ER<<M;ID$V7_@YgObM_=ffl;c=7TCMGS$LT$G ´ā =ES<=EZ*a'E*$TE=EV‰‰Ta9_=ffl;BT''lgT _=6LO;¯ MGS$L[7E 'YO=EV‰‰Ta99T*<EVMTE:ZE$V+¥Ê¿¾¦    `GR=EV‰‰Ta99T*$TE<S‰-W¥Êðæë¾ààìòëñæëä¦ ´ā @S4;TMGS$L[7EER6S<=EV‰‰T7EW%O*'5RQa6D`<*LT%TIV-T_O$_=ffl;²LT%TIV-T`>;$<S‰-WCW®LT%TIV-T 'YOLT%T$TE<S‰-W`>;$@T5V-DJTL7ECW±LT%TIV-T'YOLT%T$TE_*V;LT%T$TE7GT6LT%T$TE    <EVMTE<Z''GLT%T_9';V'$TE<EVMTE ´ā  _=6MGS$L[7Ea'E*$TE=ER$TJ;WD<S7E<S53V79T*$TELO<<S‰-W ´ā _=GWgD;-YgOLT%T_9';V'$TE<EVMTE_=ffl;LT%T<EVMTEOZ7LTM$TE ´ā  _=6LT%T$TE@T5V-D;TIW_@VgCOW$® LT%TIV-Tb;`>;$@T5V-DJTL7E `GRMGS$L[7Ea'E*$TE$TE7GT6BT'    BTKTOS*$FK¥ÊÞðñâïðæëÊÞïèâñæëäÂëäéæðåÉÞëäòÞäâÀâïñæãæàÞñâÍïìäïÞêêâ¸ÊÆʦ.Xg*_=ffl;MGS$L[7E    ER6S<=ER$TJ;WD<S7E<S53V7 ´ā _=6MGS$L[7Ea'E*$TE=EV‰‰Ta9LlTMES<>[<EVMTE ´ā =ES<=EZ*a'E*$TE$TE7GT6BT'BTKTOS*$FKa6D_=ffl;MGS$L[7EER6S<=EV‰‰Ta99T*$TE7GT6.Xg*_=ffl;=EV‰‰T    a99T*$TE7GT6`M*`E$`GR`M*_6WDI%O*=ER_9Jc9Db;%5R;Sh; ´ā =ES<=EZ*MGS$L[7E _=ffl;MGS$L[7E<S‰-W<S53V7`GR<EVMTE:ZE$V+<S53V7 _=GWgD;-YgO=EV‰‰T6T;@T5V-DJTL7E <53S 7¥@5«<¦_= V ;<E ffl MTE: V E$Z +<V 53S 7¥<:«<«¦`GR_= V 6LT%TI  -TER<<LTEL;_9J_@ V O$TE+ Yg 6$TE_@ S COVg $®LT%TI W -T V    _=GWgD;`=G*IV:W$TELO<'S6_GYO$;S$JX$KT_%TJX$KTb;ER6S<=EV‰‰T7EW+T$_6VC.Xg*_=ffl;$TELO<'S6_GYO$EIC    _=ffl;`D$ES<_%T7TCLTDLO<a6D`<*OO$_=ffl;¯LTD'YOLTD<S‰-W`GRLTD<EVMTE:ZE$V+ ´ā +S67Sh*a'E*$TE=EV‰‰T7EW<EVMTE:ZE$V+¥MGS$L[7E;T;T-T7V¦   +67S *a'E*$TEE Sh IC>G  7<V 53S 7ER6 V <=E S ‰‰T_O$LT%T<E V MTE: V E$Z +¥ÑåâÇìæëñÁìàñìïÞéÍïìäïÞêæë¿òðæëâðð V    ¾áêæëæðñïÞñæìë¦a6D$TEG*;TC'ITCEICCYO`GR=ERLT;*T;ERMIT*L8T<S;<S53V7@S4;<EVMTEJTL7E +ZNTG*$E5CMTIV9DTGSD `GRCMTIV9DTGSD:EECJTL7E `GR6ZK0W<S53V7';`E$%O*a'E*$TEc6LlT_Ef+$TE JX$KTb;=$TEJX$KT¯²°¶  ´ā _=6LO;MGS$L[7E=ER$TJ;WD<S7E<S53V79T*$TE=ER_CV;ET'T9ES@DLV;a'E*$TE;Wh_$V6%hX;+T$'ITCEICCYO _6CCMTI V 9DTG V D:EECJTL7E S `GR$TE_C  O*_= Y 6LO;MG  $LS 7E$TE [ J$KT_,@TRI X -T$0MCTD_C V OLYg T_El +$TEJ f $KTc6 X E<=E S ‰‰T:EECJTL7E V  <53S 7`G V I+ *`D$OO$c=J X $KTER6 X <=E S ‰‰Ta9LT%TI V -T7 V T*eb;=   ¯±´µI-T$TE< V ‰-S c6W _% TCTC  <9<T9L W T'l ‰a6D_= S ;Iffl -TM; V *b;MG Xg $LS 7E[ =EV‰‰Ta99T*_JEK2JTL7E`GRCMGI*6 W lTEVOJET; V ZIEE7_=ffl;>LO; [ b;LCSD;Sh;$TE<S‰-WDS*cC`@EMGTD DS*CVc6CW$TE<S;9X$<S‰-W _=;$ffl ++RG V $K5R> S C['ITCE W 9T*< [ ‰-S +EW *eC V ;WODCT$_@  D*°ª±'; W _9T; ;`GRM; Sh *b;+ Xg T;I;; l ;'Sh OMGI*6 Y TEl OV JET; V IEE7> Z C[<9<T9b; W $TE$O7 *`GR@ Sh 4;TI S -T$TE< V ‰-S _=W ;>ffl E[_EVCbM Vg C$0MCTDE W <EO*$TE S +67S *LBT< hS ‰-S a6DC W IW78S =ERL*' Z _@ OLYg *_LE  CIV -T- V @LO<< W ‰-S `GR W _@YgO_=ffl;O*'$EbMES2<TGb;$TE+S66lT_;V;$TE96LO<'ITC-lT;T‰ *T;9T*<S‰-W_@YgOOO$=ER$TJ;WD<S7EIV-T-W@ES<EO*IT>[;Sh;_=ffl;>[9Wg CW'ITCE[9T*$TE<S‰-W6W@O9Wg+R_=ffl;>[LO<<S‰-WES<O;Z‰T7OVLERc6  `7_; O*+T$E Yg 2<TGb;LC S D;S ;@Sh +TE5T_M V ;If TD *cCS LC'IE  9+R+ Wg 67S *LBT< Sh ‰-S _;W O*+T$> Yg C[ 'ITCE W 9T*< [ ‰-S ;WODCT$+  *_MX ;If T 'IE+RL*_LEVCb;$TEbMIV-T'ITCE[9T*$TE<S‰-WbM`@EMGTD6S*;Sh; MGI*6lTEVOVJET;ZIEE7+X*c6%ObMES2<TGES<;aD<TDO;ZCS7VbMCW$TE J$KTI X -T$TE< V ‰-S 9WCMTI Wg 9DTG V D:EECJTL7E S `GR$TE_C  O*a6DERDR Y `E$c6$O7Sh*`>;$IV-T$TE<S‰-W_CYgOIS;9Wg¯°@FJ+V$TD;¯±µ® .Xg*9T*'5RQ 8YO_OTIS;;Wh_=ffl;IS;L8T=;T'5RQIV-T$TE<S‰-W9Wg _=6LO;`<*_=ffl;¯ER6S< 'YO MGS$L[7E° = `GRMGS$L[7E² = >[9WgLlT_Ef+$TEJX$KT° = +Rc6ES<=ER$TJ;WD<S7E9T*$TE<S‰-W.Xg* _9WD<_9TER6S<=EV‰‰T7EWLlTMES<>[9WgLlT_Ef+$TEJX$KT²=+Rc6ES< =ER$TJ;WD<S7E-Sh;L[*9T*$TE<S‰-W_9WD<_9TER6S<=EV‰‰Ta9 ´¼ÈÀÉijÌ£ÀÊºÔ´Đ²ºÊ£®È·Ê®Ì§»ĹÊÂij¼čվȠʼ³É©§ÍºÃÊÀÌ°»Ê¾É»±¼¼ºĹÊÂij¼č

 ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶ ĻÊ ´ā    80 YEARS of PIONEERING    ERMIT*$EC9Wg6V; `GR'5R@T5V-DJTL7E`GR$TE<S‰-W CMTIV9DTGSD:EECJTL7E a6Dc6ES<$TEL;S<L;Z;    +T$:;T'TEaG$`GRES2<TGOOL_7E_GWD 7OCTc6<EE+ZMGS$L[7EER6S<=EV‰‰T7EW MGS$L[7E=ER$TJ;WD<S7E <S53V7 `GRMGS$L[7E=EV‰‰Ta99T*6T;$TE=ER_CV;ET'T9ES@DLV;b;`>;@S4;TQ ,<S<9Wgµ a6D_EVgC_=6    LO;MGS$L[7E=ER$TJ;WD<S7E<S53V79T*$TE=ER_CV;ET'T9ES@DLV;_CYgO=$TEJX$KT¯²°¶ ´ā =E<=E S *MG Z $LS 7EC [ $TE=E W <-S OLT%TI Yg -T¯LT%TI V -T' V OLT%TI Y -T$TE_* V ;`GR$TE:;T'TE=E V <_=S ;LT%TI ffl -T$TE_* V ;V    LT%TIV-T<EVMTEOZ7LTM$TE=ES<_=ffl;LT%TIV-T<EVMTEOZ7LTM$TE`GR=1V<S7V$TE    D$ER6<±LT%TI S -T_= V ;BT'I ffl -Tc6 V `$ BT'I  -T$TE< V ‰-S BT'I W -T$TE_* V ;`GR$TE:;T'TEBT'I V -T$TE7GT6 V    `GRBT'IV-TER<<LTEL;_9J_@YgO$TE+S6$TE ´ā _=6LO;=EV‰‰Ta99T*IV-T-W@$TE<S‰-W`GR=EV‰‰T_O$9T*$TE7GT6BT'BTKTOS*$FK ´ā _=6LT%TIV-T:ZE$V+OLS*MTEVC9ES@Db;ER6S<=EV‰‰T7EW _=6J[;D:EECJTL7E@T5V-DOV_Gf$9EO;V$L    `GRJ[;D<EVMTE:ZE$V+_@YgOLVg*`I6GOC ´ā  _=6LO;MGS$L[7EER6S<=EV‰‰Ta9:ZE$V+OLS*MTEVC9ES@D ´ā _=6a'E*$TE=EV‰‰Ta99T*<EVMTE:ZE$V+_;;$TE<EVMTE9ES@DT$EC;ZKD`GRO*'$TE ´ā =E<=E S *MG Z $LS 7Ea'E*$TE=E [ ‰‰Ta99T*$TE< V ‰-S a'E*$TE=E W ‰‰Ta99T*I V -T- V @$TE< W ‰-S MG W $LS 7E;T;T-T7 [ V    `GRa'E*$TE=E‰‰Ta99T*$TE< V ‰-S LW TME l <OT+TED S >LO;I [ -T< V ‰-S ER6 W <OS 6CJ Z $KTa6D=E X <=E S *_=Z ;a'E*$TE ffl    bMC-YgOITa'E*$TE=EV‰‰Ta99T*$TE<S‰-W+S6$TE_EWD;$TELO;_=ffl;¯BTKT¥¿æéæëäòÞé¦`GR_=6a'E*$TE    =EV‰‰Ta9<EVMTE:ZE$V+¥LT%T:ZE$V+ERMIT*=ER_9J¦MGS$L[7E;T;T-T7V ´ā +67S *JSh ;D[ bM 'T=E l $KT`M X *CMTI  9DTG V D:EECJTL7E S ¥ÑåÞêêÞðÞñ¿òðæëâððÀìêíâñæñæóâëâððÞëáÀìëðòéñæëä     Àâëñâï¦`GRJ[;D96LO<9S$KR6T;$TE+S6$TE`M*CMTIV9DTGSD:EECJTL7E¥ÐàåìéÞïéöÊÞëÞäâêâëñ    ¾íñæñòáâÏâîòæïâêâëñÑâðñÀâëñâïÞñÑåÞêêÞðÞñ·ÐʾÏÑÀâëñâï½ÑåÞêêÞðÞñ¦ ´ā _=6MGS$L[7E'I<<S‰-W<S53V7`GRCMT<S53V7¥<[E5T$TE¦  `GRMGS$L[7E<EVMTE:ZE$V+<S53V7¥$TE+S6$TE    `<<<[E5T$TE¦`GRIV9DTJTL7ECMT<S53V7a6D+S6$TE_EWD;$TELO;-Sh;=9Wg®ª²9Wg9T@ER+S;9E ´ā   =ES<=EZ*MGS$L[7Eb;ER6S<=EV‰‰T7EW bM;S$JX$KTLTCTE8_GYO$+<6IDIV-T_O$_6WgDI¥ÌëâêÞçìï¦ MEYO IV-T_O$_6WgDI<I$IV-Ta9¥ÌëâêÞçìïíéòðìëâêæëìï¦MEYOIV-T_O$'[¥ÁìòßéâêÞçìï¦9Sh*;WhcCIT;S$JX$KT    +R_GYO$9T*_GYO$b6$fLTCTE8LlT_Ef+$TEJX$KTc6BTDb;ERDR_IGT± =$TEJX$KT ;S<_=ffl;MGS$L[7E`E$b;    =ER_9Jc9D9Wg_=6aO$TL_L;9T*$TEJX$KTc6MGT$MGTD ´ā  '5RQ_=;L8T< ffl ;$TEJ S $KT6 X T;<E  MTE: V E$Z +`M V *`E$b;=ER_9Jc9D9  c6Wg E<$TEE S <EO*CT7E2T;$TEJ S $KTER6 X <S    aG$ÂÎÒÆÐ¥ÂòïìíâÞëÎòÞéæñöÆêíïìóâêâëñÐöðñâê¦.*_=Xg ;CT7E2T;' ffl 5BT@9T*$TEJ Z $KT6 X T;<E  MTE: V E$Z +V L[*LZ6%O*ÂÃÊÁ¥ÂòïìíâÞëÃìòëáÞñæìëãìïÊÞëÞäâêâëñÁâóâéìíêâëñ¦9Sh*ER6S<=EV‰‰T7EW=EV‰‰Ta9    `GR=EV‰‰T_O$ ´ā '5RQ=E<=E S *MG Z $LS 7EER6 [ <=E S ‰‰T7E V 9W$MG Z $LS 7E_@ [ ObM Yg C'ITC9 W ;LC S DCS 'ITC_= W ;CT7E2T;a6D+ ffl 69S Tl    b;E[=`<<C'O«­¯=ER$O<6IDMGS$L[7E<S‰-W<S53V7MGS$L[7E<EVMTE:ZE$V+<S53V79Sh*MGS$L[7EBTKTc9D    `GRMG$LS 7EBTKTO [ *$FKMG S $LS 7E'I<< [ ‰-S <W53S 7¥$TE< V ‰-S :WE$Z +`<<< V E5T$TE¦MG [ $LS 7E'I<<E [ MTE: V E$Z +V <S53V7¥$TE+S6$TE:ZE$V+`<<<[E5T$TE¦ ´ā  '5RQc6E<$TE7O<E S <bM S _% TL $ER<I;$TEE [ <EO*CT7E2T;$TEJ S $KT¾¾Àп¥Ñåâ¾ððìàæÞñæìëñì¾áóÞëàâ X    ÀìééâäæÞñâÐàåììéìã¿òðæëâðð¦_CYgOIS;9Wg¯´C$ET'C¯²²´    b;=$TEJX$KT¯²²´CMTIV9DTGSD:EECJTL7E=ES<_=GWgD;=1V9V;$TEJX$KT7TC=1V9V;¾Ð¾Ëa6D_=6BT'    $TEJX$KT`E$b;_6YO;LV*MT'Cª:S;IT'C`GRBT'LO*b;_6YO;C$ET'Cª@FKBT'C ´ā '5RQ=ES<=EZ*MGS$L[7E<S53V7`GRMGS$L[7E<EVMTE:ZE$V+<S53V7¥MGS$L[7E=ES<=EZ*@«J«¯²²µ¦a6D_@VgC    _*YgO;c%$TEJX$KTIV-T_O$'[¥ÁìòßéâÊÞçìï¦_@YgOEO*ES<7GT6`E**T;9WgCW'ITC7O*$TE<S53V79WgCW'ITCE[    'ITCLTCTE8b;MGTDe6T;     =E<=E S *MG Z $LS 7EER6 [ <<S 53S 7JV $KTMG X $LS 7E$TE7GT6CMT< [ 53S 7MG V $LS 7E;T;T-T7 [ V ´ā '5RQc6E<_G S O$+T$L8T< Y ;ES <EO*CT7E2T;$TEJ S $KT9T*6 X T;:  E$Z +¥¾ððìàæÞñæìëñì¾áóÞëàâÀìééâäæÞñâ V    Ðàåììéðìã¿òðæëâðð¦bM_=ffl;M;Xg*b;'5R<EVMTE:ZE$V+-Sh;;lT%O*aG$ 9Sh*9T*6T;IV-T$TEER<<$TE+S6$TE    *T;I+VD`GR$TE@ S 4;T;I S 7$EECCT7E2T;$TEE S <EO*+T$¾¾Àп_= S ;$TEE ffl <EO*9 S CWg 'W5'Z TD *_; Vg O*+T$C Yg W    cC8X*²_=OE_.;7%O*'5R<EVMTE:ZE$V+9SgIaG$9Wg+Rc6ES<CT7E2T;;Wh$TEc6ES<'S6_GYO$+T$¾¾Àп_=ffl;M;Xg*    b;'ITCLlT_Ef+9WgDVg*bM‰%O*'5R@T5V-DJTL7E`GR$TE<S‰-W:EECJTL7E_@ETRCW_@WD*±CMTIV9DTGSDb; BC[ VBT'OT_.WD;9Wgc6ES<'S6_GYO$bM>T;CT7E2T;+T$9Sh*¾¾Àп`GRÂÎÒÆÐb;9Z$ER6S<-Sh;7Sh*`7=EV‰‰T    7EWa9`GR_O$ ´ā _=6MGS$L[7Ea'E*$TE=EV‰‰Ta9<EVMTE:ZE$V+LT%TIV-T$TE+S6$TE:ZE$V+LT$GMGS$L[7E;T;T-T7V¥ÄÂÊ¿¾¦

 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING Ö£¼¦Â¼Ċʦ Ê¼³¼ÌÃʼ¦Ê²£®È·Ê®Ì§»čÇ´ā Ê¼ĹΠÁÊ   ¼¼º Ê¼´¼ÈĶË£®È £®³IJÍ ¼Å¦£®³IJÍ ¶ĄÊ» ÌĶ Ê¼·ÌÔĹÁ ¼Å¦£®³IJͶĄÊ»À̧ʠʼ վȲɠĹΠÁÊ ÂºÊ£ºĹÌÁ»čÔ ĉʷʮ̧»ĹÊÂij¼čվȠʼ³É©§Í Ô¾¡Ê²Ð Ê¼£®ÈÇ ¦Ê²³¼Ì Ê¼À̧ʠʼվȠʼ²É ĹΠÁÊ ¦Ê²³¼ÌÃʼ ¼É¦ÂÌij    òĉÀ»³¼ÌÃʼ¦Ê² ¾Ê¦   ÷°ÍºÂʼ³¼¼®   ÷°Íº·ÉÂIJÐ   ÷°Íº³¼ÌÃʼ°¼É·»Ê ¼Õ¾ÈÂÌܦÕÀIJ¾Ċź    òĉÀ»³¼ÌÃʼ°¼É·»Ê ¼º²ÐÁ»č    òĉÀ»Ô°£Ö²Ö¾»ÍÂÊ¼Â²Ô°Ĺ °ĉÊ·¼ÈĶɲ°¼č    òĉÀ»³¼ÌÃʼ ¾Ê¦   ÷°Íº·ÉÂIJÐ   ÷°Íº³¼ÌÃʼ°¼É·»Ê ¼Õ¾ÈÂÌܦÕÀIJ¾Ċź    òĉÀ»Ô°£Ö²Ö¾»ÍÂÊ¼Â²Ô°Ĺ ¼É¦ÂÌij    òĉÀ»´¼ÈÂʲ¦Ê²À̧ʠʼ    òĉÀ»·ÉĴ²ÊÀ̧ʠʼվÈÀÌĶÉ»   ÷°Íº·ÉĴ²ÊÀ̧ʠʼ   ÷°ÍºÀÌĶÉ»ÀʼÂʼ °ĉÊ·¼ÈĶɲ°¼č    òĉÀ»"""    òĉÀ»3"3"    Ö£¼¦ Ê¼(!,/    Ö£¼¦ Ê¼!!     Ö£¼¦ Ê¼,!    Ö£¼¦ Ê¼,1$    Ö£¼¦ Ê¼, /    Ö£¼¦ Ê¼,2,(2    Ö£¼¦ Ê¼,(,    Ö£¼¦ Ê¼,(%    Ö£¼¦ Ê¼&$,!    Ö£¼¦ Ê¼/G #    Ö£¼¦ Ê¼".-" ¼Å¦£®³IJͶĄÊ»³¼ÌÃʼ

 ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶ ĻÊ ´ā    80 YEARS of PIONEERING ij¼ÀĶÂų¹Ê»×² ¦Ê²³É©§Í Ê¼Ô¦Ì² ¦Ê²ÀÌÔ°ĹÂɺ·É²­čÕ¾ÈÂÏÜÅÂʼŦ£č ¼ ¼É¦ÂÌij    òĉÀ»³É©§Í    òĉÀ» Ê¼Ô¦Ì² °ĉÊ·¼ÈĶɲ°¼č    òĉÀ»³É©§Í    òĉÀ» Ê¼Ô¦Ì²    òĉÀ»ÀÌÔ°ĹÂɺ·É²±čÕ¾È BBQDCHS@SHNM    òĉÀ»ÂÏÜÅÂʼŦ£č ¼ ¼Å¦£®³IJͶĄÊ»ÀÌÔ°ĹÂɺ·É²±č Õ¾ÈÂÏÜÅÂʼŦ£č ¼ µÑĊ§ĉÀ»£®³IJÍ IJĊʲ Ê¼ÀÌĶÉ» ¼Å¦£®³IJͶĄÊ» Ê¼Ô¦Ì²

 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING Ö£¼¦Â¼Ċʦ Ê¼³¼ÌÃʼÀ̧ʠʼ ű̠ʼ³IJÍ £®³IJÍ ¼Å¦£®³IJÍվȵÑĊ§ĉÀ»£®³IJÍ •ÃÉÀòĊʹʣÀ̧ʠʼ³É©§Í •ÃÉÀòĊʹʣÀ̧ʠʼԦ̲ •ÃÉÀòĊʹʣÀ̧ʠʼij¾ÊIJ •ÃÉÀòĊʹʣÀ̧ʠʼ³¼ÌÃʼ - ÃÉÀòĊÊÂÊ¡ÊÀ̧ʼȳ³Âʼ²԰ĹÔ·ÏÜŠʼĶÉIJ Ê¼ ÃÉÀòÊÂÊ¡ÊÀ̧ʠʼ³¼ÌÃʼŦ£č Ê¼ Ê¼´¼È Å³ Ê¼Õ¾È°¼É·»Ê ¼º²ÐÁ»č ÃÉÀòĊÊÂÊ¡ÊÀ̧ʳ¼ÌÃʼ Ê¼´«Ì³Éij̠ʼ ÃÉÀòĊÊÂÊ¡ÊÀ̧ʠʼ³¼ÌÃʼ±Ð¼ ÌĶ¼ÈÃÀĉʦ´¼ÈÔ°ĹÖ¾ĶÌÂijÌ ÂčվȠʼ§²Âĉ¦ •µÑĊÅ˲À» Ê¼Ö£¼¦ Ê¼±Ð¼ ÌĶÅÂɦÃʼ̺°¼É·»č Ö£¼¦ Ê¼±Ð¼ ÌĶÅÂɦÃʼ̺°¼É·»čIJÑÕ¾¼É³µÌIJ§Å³ Ê¼IJËԲ̲ Ê¼þɠÂÑij¼£ÏÅ  ´¼Ì©©Êij¼ÍÂÊ¡ÊÀ̧ʱм ÌĶÅÂɦÃʼ̺°¼É·»č  ´¼Ì©©ÊÖ°±Ð¼ ÌĶÅÂɦÃʼ̺°¼É·»č ¹ʺÃÊÀÌ°»Ê¾É» ´¼Ì©Êij¼Í¹Ê£´ ijÌ £®È ¼¼º Ê¼´¼ÈĶË£®È

 ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶ ĻÊ ´ā    80 YEARS of PIONEERING £®È ¼¼º Ê¼³¼ÌÃʼ £®È ¼¼º Ê¼À̧ʠʼ´¼ÈĶË£®ÈÇ £®È ¼¼º Ê¼³¼ÌÃʼ֣¼¦ Ê¼³¼Ì Ê¼Âɦ£º •Ö£¼¦ Ê¼´¼Ì©©Êij¼Í³¼ÌÃʼ±Ð¼ ÌĶþɠÂÑij¼²Ê²Ê§ÊijÌ!!  •Ö£¼¦ Ê¼´¼Ì©©ÊÖ°±Ð¼ ÌĶÅÂɦÃʼ̺°¼É·»č,1$ •Ö£¼¦ Ê¼´¼Ì©©ÊÖ°IJĊʲ³¼ÌÃʼ±Ð¼ ÌĶ,! '1,Õ¾È7,!  •Ö£¼¦ Ê¼´¼Ì©©ÊÖ°°Ê¦ Ê¼³É©§Í, / •Ö£¼¦ Ê¼´¼Ì©©ÊÖ°¼È³³Âʼ²԰ĹÔ·ÏÜŠʼĶÉIJ Ê¼,2,(2 •Ö£¼¦ Ê¼´¼Ì©©ÊÖ°°Ê¦ Ê¼ij¾ÊIJþɠÂÑij¼²Ê²Ê§ÊijÌ,(, •Ö£¼¦ Ê¼´¼Ì©©ÊÖ°°Ê¦ Ê¼Ô¦Ì²þɠÂÑij¼²Ê²Ê§ÊijÌ,(% •Ö£¼¦ Ê¼´¼Ì©©ÊÖ°³¼ÌÃʼ±Ð¼ ÌĶþɠÂÑij¼²Ê²Ê§ÊijÌ&$,!  •Ö£¼¦ Ê¼´¼É§©ÊIJÐÁªÍ³É®­ÌijÂÊ¡ÊÀ̧ʳ¼ÌÃʼ±Ð¼ ÌĶ/G #  Ö£¼¦ Ê¼·ÌÔĹÁ £®È ¼¼º Ê¼°ÍÜ´¼Î ÁÊ

 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING ­®  ¼ÈIJɳ´¼Ì©©Êij¼Í   BT'IV-T$TE<S‰-W   BT'IV-T$TE_*V;   BT'IV-T$TE7GT6   BT'IV-T$TE<EVMTE  ª LT%TIV-TER<<LTEL;_9J_@YgO$TE+S6$TE  ª LT%TIV-T$TE<EVMTEO*'$TE$TE=ER$O<$TE     `GR9ES@DT$EC;ZKD  ª LT%TIV-T<EVMTE$TE=1V<S7V$TE    ªLT%TIV-T$TE<EVMTE:ZE$V+ERMIT*=ER_9J     aG+VL7V$L`GR$TE%;L*  ª LT%TIV-T:ZE$V+OLS*MTEVC9ES@D   a'E*$TE=EV‰‰T7EW<EVMTE:ZE$V+MGS$L[7E;T;T-T7V¥¿¿¾¦  =$TEJX$KT¯²³­'5R@T5V-DQ=ER$O<6IDM;ID*T;7T*e6S*;Wh ­® òĉÀ»¦Ê²Õ¾ÈÖ£¼¦ Ê¼ ´¼È Å³IJĊÀ» ÂĻʲɠ¦Ê²Ô¾¡Ê²Ð Ê¼£®ÈǺÍòĉÀ»¦Ê²Ã¾É  £ÏŦʲ³¼Ì Ê¼À̧ʠʼվȠʼ²É ĹΠÁÊ ¦Ê²³¼ÌÃʼ¦Ê²³É©§Í Ê¼Ô¦Ì²¦Ê²ÀÌÔ°ĹÂɺ·É²±č Õ¾ÈÂÏÜÅÂʼŦ£č ¼òĉÀ»¦Ê²IJɦ ¾ĉÊÀ¡ĊʦijĊ² ºÍòĊÊ°ÍÜ°Ļʦʲ×ÃĊºÍ´¼ÈÂÌ°±Ì¹Ê·Ô·ÏÜÅ×ÃĊ³¼¼¾Ðµ¾ ijʺ»Ð°±ĹÊÂij¼č¡Å¦£®ÈÇ òĉÀ»¦Ê²Õ¾ÈÖ£¼¦ Ê¼°ÍÜĶÉIJ Ê¼Ô¼Í»² Ê¼ÂŲ վȠʼĶÉIJų¼ºÂɺº²ÊÔ·ÏÜÅ×ÃĊ³¼Ì Ê¼ £Àʺ¼ÑĊÂÑĉÂɦ£º ¡ĊźѾ·Ïݲ¬Ê²ÂĻʣɩ¡Å¦£®ÈÇ´ā Ê¼ĹΠÁÊ £®È·Ê®Ì§»ĹÊÂij¼čվȠʼ³É©§ÍºÃÊÀÌ°»Ê¾É»±¼¼ºĹÊÂij¼č

 ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶ ĻÊ ´ā    80 YEARS of PIONEERING ­¯ ¼ÈIJɳÂѦ ÀĉÊ´¼Ì©©Êij¼Í  BTDb7$TE$lT$S<6[`G%O*EO*'5<6W? TDIV-T$TE_=ffl;>[=ERLT; *T;$S<a'E*$TE7T*e9Sh*MC6®­a'E*$TEa6D+S6$TE_EWD; $TELO;ER6S<=EV‰‰Ta9ER6S<=EV‰‰T_O$=ER$O<6ID  a'E*$TE=EV‰‰Ta96T;<EVMTE:ZE$V+   ¥Ê¿¾©ÅÏÊ`GRÕÊ¿¾¦  a'E*$TE=EV‰‰Ta9:ZE$V+OLS*MTEVC9ES@D   ¥ÊϦ   a'E*$TE=EV‰‰Ta99T*$TE<S‰-W   ¥Ê¾Í¦   a'E*$TE=E‰‰Ta9ER<<LTEL;_9J V   _@O$TE+ Yg 6$TE¥ÊÐÊÆЦ S   a'E*$TE=E‰‰Ta99T*$TE7GT6 V   MG$LS 7E;T;T-T7 [ ¥ÊÆʦ V   a'E*$TE=E‰‰Ta99T*$TE_* V ;V   MG$LS 7E;T;T-T7 [ ¥ÊÆæ V   a'E*$TE=E‰‰Ta9<E V MTE: V E$Z +V   MG$LS 7E;T;T-T7 [ ¥ÄÂÊ¿¾¦ V   a'E*$TE=ES-‰T6ZK0W<S53V7   LT%TIV-T<EVMTE:ZE$V+¥Íå«Á«¦ ­° þɠÂÑij¼£À³ij¼Í Ö°°Ê¦ Ê¼³É©§Í վȳ¼ÌÃʼ±Ð¼ ÌĶ  MGS$L[7E'I<<S‰-W<S53V7`GR<S‰-WCMT<S53V¥<[E5T$TE¦   MG$LS 7E'I<<E [ MTE: V E$Z +<V 53S 7¥$TE+ V 6$TE`<<< S E5T$TE¦ [  `GRIV9DTJTL7ECMT<S53V7  ;O$+T$;Sh;DS*CWa'E*$TE`GRJ[;D9Wg'5RQ6lT_;V;$TE_@YgO L*_LEVC`GRL;S<L;Z;$TE6lT_;V;*T;7TC`>;DZ9:JTL7E%O*'5RQ b;6T;7T*e6S*;Wh  a'E*$TEITELTE<EVMTE:ZE$V+`GRITELTEIV-T-W@<S‰-W    ¥Ç¿¾£Ç¾Í¦   J[;DbM'lT=EX$KT`GR@S4;T>[<EVMTE9T*:ZE$V+   `M*CMTIV9DTGSD:EECJTL7E¥ÀÌËÀ¦  J[;D96LO<9S$KR_@YgO$TE+S6$TE`M*CMTIV9DTGSD    :EECJTL7E¥ÐʾÏѦ  J[;DLYgOLTEO*'$E  J[;DIV_9JLSC@S;:  J[;D_9'a;aGDW`GR@S4;T$TEJX$KT

 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING <Z'GT$E+lT;I;9Sh*LVh;¯´®';6S*;Wh ÂÊ»À̧ʠʼ¡Ċʼʧ Ê¼ ĶĻʲÀ²  £² +lT`;$7TCIZ4V$TEJX$KT =EV‰‰T_O$ +lT;I; ®µ '; =EV‰‰Ta9 +lT;I; ° '; +lT`;$7TC7lT`M;*9T*IV-T$TE JTL7ET+TED +lT;I; ¯ '; EO*JTL7ET+TED +lT;I; µ '; >[-IDJTL7ET+TED +lT;I; ¶ ';   OT+TED +lT;I; ¯ '; ÂÊ»À̧ʠʼ·²É ¦Ê²ºÃÊÀÌ°»Ê¾É» ĶĻʲÀ²  £² +lT`;$7TCIZ4V$TEJX$KT =EV‰‰T_O$ +lT;I; ²® '; =EV‰‰Ta9 +lT;I; ¯¯ '; +lT`;$7TC7lT`M;*9T*IV-T$TE JTL7ET+TED +lT;I; ° '; EO*JTL7ET+TED +lT;I; ¯­ '; >[-IDJTL7ET+TED +lT;I; °® ';   OT+TED +lT;I; ®¶ '; ÅÊĶʼ»č§ÊÀijĉʦ´¼ÈÔ°ĹĶĊʦĶʠԦ̲¼Ê»ØIJĊ£®ÈÇ ĶĻʲÀ²  £² +lT`;$7TCIZ4V$TEJX$KT =EV‰‰T_O$ +lT;I; ± '; +lT`;$7TC7lT`M;*9T*IV-T$TE JTL7ET+TED +lT;I; ® '; EO*JTL7ET+TED +lT;I; ° '; ·²É ¦Ê²Ô¦Ì²¼Ê»ØIJĊ´¼ÈÔ¹°§ÉÜÀ£¼ÊÀÂÊ»À̧ʠʼ ijĻÊÕòĉ¦ÅÊĶʼ»čԦ̲¼Ê»ØIJĊ£®ÈÇ ĶĻʲÀ²  £² +lT`;$7TCIZ4V$TEJX$KT =EV‰‰Ta9 +lT;I; ¯ '; +lT`;$7TC7lT`M;*9T*IV-T$TE EO*JTL7ET+TED +lT;I; ¯ '; ­¯ ³Ð£¾Ê ¼¡Å¦£®ÈÇ

43 ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶ ĻÊ ´ā    80 YEARS of PIONEERING =ER$O<6ID ÅÊĶʼ»č§ÊÀØ°»Õ¾È§ÊÀijĉʦ´¼ÈÔ°ĹÖ£¼¦ Ê¼ ĶĻʲÀ²  £² +lT`;$7TCIZ4V$TEJX$KT =EV‰‰Ta9 +lT;I; ® '; +lT`;$7TC7lT`M;*9T*IV-T$TE OT+TED +lT;I; ® '; ³Ð£¾Ê ¼¹Ê»²Å ijĻÊÕòĉ¦µÑĊ³¼ÌÃʼ ĶĻʲÀ²  £² +lT`;$7TCIZ4V$TEJX$KT =EV‰‰T_O$ +lT;I; ¯ '; =EV‰‰Ta9 +lT;I; ® '; +lT`;$7TC7lT`M;*9T*IV-T$TE >[-IDJTL7ET+TED +lT;I; ® ';   OT+TED +lT;I; ¯ '; Âʻ²ɳ²вÀ̧ʠʼ·²É ¦Ê²ºÃÊÀÌ°»Ê¾É» ĶĻʲÀ²  £² Âʻ²ɳ²вÀ̧ʠʼ·²É ¦Ê²ºÃÊÀÌ°»Ê¾É»ÂĉÀ²¦Ê² ĶĻʲÀ²  £² Âʻ²ɳ²вÀ̧ʠʼ·²É ¦Ê²Ô¦Ì²¼Ê»ØIJĊ´¼ÈÔ¹°´¼ÈĶĻÊ ĶĻʲÀ²  £² Âʻ²ɳ²вÀ̧ʠʼ·²É ¦Ê²Ô¦Ì²¼Ê»ØIJĊ´¼ÈÔ¹°§ÉÜÀ£¼ÊÀ ĶĻʲÀ²  £² Âʻ²ɳ²вÀ̧ʠʼ³Ð£¾Ê ¼¹Ê»²Å ijĻÊÕòĉ¦µÑĊ³¼ÌÃʼ ĶĻʲÀ²  £² Âʻ²ɳ²вÀ̧ʠʼ¾Ñ ĶĊʦ´¼ÈĶĻÊ ĶĻʲÀ²  £² ÅʣʼԼͻ²§Éݲ£®È·Ê®Ì§»čÇ°ĉÊ·¼ÈĶɲ°¼č ·Ïݲ°ÍÜ   ijʼʦԺij¼ ÅʣʼԼͻ²§Éݲ£®È·Ê®Ì§»čÇĹѲ»č¼É¦ÂÌij ·Ïݲ°ÍÜ   ijʼʦԺij¼ ÅʣʼԼͻ²´āºÃÊÀÌ°»Ê¾É»±¼¼ºĹÊÂij¼č°ĉÊ·¼ÈĶɲ°¼č ·Ïݲ°ÍÜ   ijʼʦԺij¼ ­° ¯ʲ°ÍÜĶÉIJ Ê¼Ô¼Í»² Ê¼ÂŲ

 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING  =$TEJX$KT ¯²³­ BT'IV-T$TE<S‰-W CWOT+TED=1V<S7V*T;+EV* ¯°';a6DCWIZ4V$TEJX$KTER6S<=EV‰‰T_O$®³';=EV‰‰Ta9´'; 6lTE*7lT`M;*9T*IV-T$TE_=ffl;EO*JTL7ET+TED±';>[-IDJTL7ET+TED ®°';`GROT+TED³';  =$TEJX$KT¯²³­OT+TED%O*BT'IV-T$TE<S‰-WCW>G*T;9Wg a66_6;6T;IV-T$TEETDGR_OWD66S*;Wh   Ö£¼¦ Ê¼ÀÌĶÉ» ¼Ê»²ÊºÅÊĶʼ»č §ÏÜÅÖ£¼¦ Ê¼ Õþĉ¦Ô¦Ì²°Ð² EJª6EªLC-TDLZBS9E$ZG 7GT6$lTM;6ET'TaC_C;7SC '5R@T5V-DJTL7E`GR$TE<S‰-W   %O*$lTcE8[$7O*MEYOcC   ¤ÀëÉÝîçáðï½ßßñîÝðáèõÌîåßá   ÁÝîêåêãïÉëéáêðñ黥 >Jª6EªOE@EE5DGER<VG $TE_=6_>D_EYgO*LlT'S‰b;$TE7EI+LO< '5R@T5V-DJTL7E`GR$TE<S‰-W   b;=ER_9Jc9D¶=ERL<$TE5=`E$   b;=ER_9Jc9D¤ÐäáÇáõ½ñàåðÉÝððáî   ¤Ç½É¥ÌîÝßðåßáïåêÐäÝåèÝêච  Ðäáâåîïð©õáÝîáôìáîåáêßáåêÐäÝåèÝêॠ>Jª6Eª=fl‰‰TOVLERIEIT5V- 'ITCLSC@S;:ERMIT*'5R$EEC$TE<EVMTE '5R@T5V-DJTL7E`GR$TE<S‰-W   'ITC_LWgD*$S<'ITC_LWgD*+T$$TEG*9Z;   b;MGS$9ES@D¤Ðäá½ïïëßåÝðåëêÞáðóááê   ÎåïçÉÝêÝãáéáêð¿ëééåððáá   ÝêàÏðëßçÅêòáïðéáêðÎåïç¥ Oª6Eª:WE-SDOEZ5_EYO*JVEV_GVJ LTEL;_9J9T*<S‰-W<EVMTECW>G$ER9< '5R@T5V-DJTL7E`GR$TE<S‰-W  7OC[G'T%O*<EVKS9MEYOcC»   MGS$2T;+T$7GT6MGS$9ES@D`M*=ER_9Jc9D   ¤ÀëáïÉÝêÝãáéáêð½ßßëñêðåêã   ÅêâëîéÝðåëê½ââáßðÂåîéÒÝèñá»   ÁòåàáêßáâîëéÏðëßçÁôßäÝêãáëâÐäÝåèÝêॠ¹Ê£À̧ʠʼ³É©§Í    IJĊʲ³Ð£¾Ê ¼    IJĊʲÀ̧ʠʼվÈÀÌĶÉ»

 ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶ ĻÊ ´ā    80 YEARS of PIONEERING   µ ¾ ¦ Ê ² À̧ʠʼ°ÜÍØ IJĊ¼É³   Ê ¼   Ôµ»Õ·¼ĉײ¼ÈIJɳ§ÊijÌվȲʲʧÊijÌ   EJª6EªC;IV$T>6Z*LV9:Vk    ÀìêíÞïæðìëìãÄïìòíÁâàæðæìëÊÞèæëäæëÇÞíÞë© ÑåÞæéÞëá© ÓæâñëÞê© Þëá ÏòððæÞ Òðæëä Þ ¿òðæëâðð ÄÞêâ© ÐæêòéÞñæìë£ÄÞêæë䩯­®´©Óì髱µ¥³¦©íí«´¶®ªµ®°    Ñåâ Âããâàñ ìã Àïâáæñ ÏÞñæëä ÀåÞëäâð ìë ÀìïíìïÞñâÀÞðåÅìéáæëäð©ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé© ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ëì«°µ©íí«±³ª²´   EJª6EªIS-;W@E_JEK2LS$a$    ÐâéâàñæëäÂõñâïëÞé ¾ððòïÞëàâÐâïóæàâÍïìóæáâïð ãìïÐòðñÞæëÞßæéæñöÏâíìïñæëä·¾ÀÞðâìãÑåÞæéÞëáËÞññÞôââ Èòðæë© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé© ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ëì«°µ©íí«°µª±²    ¾òáæñÃæïêÐâéâàñæìëìãÀåæëâðâÀìêíÞëæâðæë ÑåÞæéÞëá©ÇìòïëÞé ìã ¾ààìòëñæëäÍïìãâððæìëÞé© ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ë쫱­©íí«°¯ª±®   EJª6EªLC-TDLZBS9E$ZG    ÄâññìèëìôÆÃÏжÃæëÞëàæÞéÆëðñïòêâëñð©ÇìòïëÞé ìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´© Óìé«®°©,<S<@V_JK©íí«¶´ª®­°    Åâáäâ ¾ààìòëñæëä© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®µ©Óìé«®±©,<S< @V_JK©íí«®°ª¯³   EJªOS‰-GW@V@S4;_LEV‰    ÏâðíìëðâìãñåâÐñìàèÂõàåÞëäâìãÑåÞæéÞëá ìëÀìïíìïÞñâÄìóâïëÞëàâ©ÂÞïëæëäðÎòÞéæñöÞëá¾òáæñìïð© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé© ÑåÞêêÞðÞñ ¿òðæëâðð Ðàåìì驯­®´©Óìé«®°©Ë쫱­©íí«¯¯ª°®   EJª$O<`$IES7;OZ<G    ÆëñâïëÞñæìëÞé ÑÞõ ÊÞëÞäâï© ÂÖ ÎÞñÞï© ÁìåÞ ìããæàâ¾áÞíñÞñæìëìãñåâ¾ààìòëñæëäÍïÞàñæàâìë¿òðæëâðð ÀìêßæëÞñæìë òëáâï Àìêêìë Àìëñïìé ñì ÄïÞëñæëä ìã ÆëàìêâÑÞõÂõâêíñæìëñìÐåÞïâåìéáâïðòëáâïñåâÀìëñæëòæñöìã Æëñâïâðñ Áìàñïæëâ æë ñåâ àÞðâ ìã Âëñæïâ ¿òðæëâðð ÑïÞëðãâï òëáâïñåâÏâóâëòâÀìáâ©ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé© ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ëì«°µ©íí«²µª´²    Ñåâ Ðòïóâö ÏâðâÞïàå æë ¾ààìòëñÞëñð Ìíæëæìë ñì ÑÃÏÐ ®³ ÉâÞðâð ãìï Éâððââ Þëá ¾áìíñæìë ÏâÞáæëâððìã¾ààìòëñÞëñðæëµÐâàñìïðìãñåâÐñìàèÂõàåÞëäâ ìãÑåÞæéÞëá©ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®µ©Óìé«®±©,<<@S _JK©íí«¶³ª®®³ V   >Jª6EªJVG=@EJEW+Sg;_@-E    ÌóâïóæâôìãÃæëÞëàæÞéÏâíìïñæëäÐñÞëáÞïáðìã ÃæëÞëàæÞé Æëðñïòêâëñð© ÇìòïëÞé ìã ¾ààìòëñæëäÍïìãâððæìÞé© ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´©Óìé«®°©,<S<@V_JK©íí«®­±ª®¯­    $TE<S‰-W7TC'ITCES<>V6-O<7OLS*'C©ÇìòïëÞéìã ¿òðæëâðð¾áêæëæðñïÞñæìë©Ñåâ¾ððìàæÞñæìëìãÍïæóÞñâÂáòàÞñæìë ÆëðñæñòñæìëðìãÑåÞæéÞëᩯ­®´©Óì髳©Ëì«®©íí«¯²ª°¯    Èâö¾òáæñÊÞññâïðæëÞë¾òáæñìïðÏâíìïñÞëá ÏâðíìëðâìãñåâÐñìàèÂõàåÞëäâìãÑåÞæéÞëá©ÇìòïëÞéìã ¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´© Óìé«®°©Ëì«°µ©íí«¯¯ª°´

 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING    ÂããâàñìãÎòÞéæñÞñæóâÞëáÎòÞëñæñÞñæóâÃÞàñìïð ìëÐñìàèÏâñòïë·ÀÞðâÐñòáöìãÃæïêðæëñåâÐñìàèÂõàåÞëäâ ìãÑåÞæéÞëá©ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ëì«°¶©íí«¯±ª°²    Ïâðíìëðâ ìã ñåâÐñìàèÂõàåÞëäâ ìãÑåÞæéÞëá ìëÀìïíìïÞñâÄìóâïëÞëàâ©ÂÞïëæëäðÎòÞéæñöÞëá¾òáæñìïð© ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåììé© ¯­®´©Óìé«®°©Ë쫱­©íí«¯¯ª°®    ÃæëÞëàæÞé ¾ððâñð æë ÆÃÏÐ ¶© ÇìòïëÞé ìã ¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®µ© Óìé«®±©,<<@S _JK©íí«¯´ª°µ V    ÃÞæï ÓÞéòâ ìã ÃæëÞëàæÞé Æëðñïòêâëñð ¾òáæñæëä© ÇìòïëÞé ìã ¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâðð Ðàåìì驯­®µ©Óìé«®±©,<S<@V_JK©íí«µ³ª¶²    ÐñïòàñòïÞ éÂîòÞñ æìëÊìáâ é æëäìã¿ìÞïá ÀåÞïÞàñâïæðñæàð Þëá Ãæïê ÍâïãìïêÞëàâ ìã ÑåÞæ Éæðñâá ÀìêíÞëæâð©ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®µ©Óìé«®±©Ë쫱®©íí«¯²ª°µ   >Jª6EªIEE5W_7a-aD:V;    ¾ððâñÉæîòæáæñö ÞëáÐñìàèÉæîòæáæñö òëáâï ÆÃÏÐ ¾áìíñæìëìãÑåÞæéÞëá©ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé© ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ëì«°µ©íí«´³ª¶±   >Jª6Eª;;9IEE5DC+V;6T    ¿òðæëâððÀìêêòëæàÞñæìëÞëáÆëñâïëÞñæìëÞé ¿òðæëâððÀìêêòëæàÞñæìëÐñÞëáÞïáð©ÇìòïëÞéìã¾ààìòëñæëä ÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ëì«°¶© íí«¶¶ª®­¶   >Jª6Eª$ZGDT+S;9R_6-    ÀìïíìïÞñâ ÄìóâïëÞëàâ Àìáâ ãìï Éæðñâá ÀìêíÞëæâð ¯­®´© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé© ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®µ©Óìé«®±©Ë쫱®©íí«´°ª¶°   >Jª6Eªc@GV;7E*_C:WES7;    ¿éÞàèàåÞæëÞëá¾ààìòëñæëä·ÌííìïñòëæñæâðÞëá ÀåÞééâëäâð©ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®´©Óìé«®°©,<S<@V_JK©íí«®¯®ª®¯²    ¿òðæëâðð ÀìêêòëæàÞñæìë Þëá ÆëñâïëÞñæìëÞé ¿òðæëâððÀìêêòëæàÞñæìëÐñÞëáÞïáð©ÇìòïëÞéìã¾ààìòëñæëä ÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ëì«°¶© íí«¶¶ª®­¶    Åìëäïâëð Àìðñ ¾ààìòëñæëä· ¾ ÊÞëÞäâïæÞé ÂêíåÞðæð©ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ëì«°¶©íí«®¯±ª®¯²    ÁæäæñÞé ÑïÞëðãìïêÞñæìë Þëá ¾ààìòëñæëä Íïìãâððæìë©ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®µ©Óìé«®±©,<S<@V_JK©íí«®°²ª®±°   >Jª6Eª-T‰-SD7Sh*_EYO;ES7;    Éâñð Ôïæñâ Èâö ¾òáæñ ÊÞññâïð© ÇìòïëÞé ìã ¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´© Óìé«®°©,<S<@V_JK©íí«µ±ª¶³    Ëâô¾òáæñìïðÏâíìïñ·Ñåâ®ðñªöâÞïÂõíâïæâëàâð© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé© ÑåÞêêÞðÞñ ¿òðæëâðð Ðàåìì驯­®´©Óìé«®°©Ëì«°µ©íí«²ª¯®    ÃÞæï ÓÞéòâ ìã ÃæëÞëàæÞé Æëðñïòêâëñð ¾òáæñæëä© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé© ÑåÞêêÞðÞñ ¿òðæëâðð Ðàåìì驯­®µ©Óìé«®±©,<S<@V_JK©íí«µ³ª¶²   >JªIVBT6T7S;7V=ERBT    ÒíáÞñâ ÞëáÍïâíÞïÞñæìë ìã ÆÃÏÐ ®³ ÉâÞðâð© ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâðð Ðàåìì驯­®µ©Óìé«®±©,<S<@V_JK©íí«°¶ª±µ   >JªLC-TDJZB:T6T    ÁÞñÞÐàæâëàâÞëáÁæäæñÞé¾ààìòëñÞëñð©ÇìòïëÞé ìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´© Óìé«®°©,<S<@V_JK©íí«±¶ª²²

 ANNUAL REPORT ACADEMIC YEAR 2017 ¼Ê»¦Ê²´¼ÈĶ ĻÊ ´ā    80 YEARS of PIONEERING    Æêíéâêâëñæëä¿âöìëá¿òáäâñæëä·Òëéìàèæëäñåâ ÍâïãìïêÞëàâÍìñâëñæÞ饯ëáâáæñæì릩ÇìòïëÞéìã¾ààìòëñæëä ÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ëì«°µ© íí«®¯¯ª®¯°    Éæâ Ðíìññæëä· Íïìóâë Ñâàåëæîòâð ñì Áâñâàñ Áâàâíñæìë ßö ÍÞêâéÞ Êâöâï© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ë쫱­© íí«®®³ª®®´    ¾òäêâëñâáÏâÞéæñö·ÁïÞðñæàÍÞàâìãñåâÃòñòïâ ÏâÞéæñö© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé© ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®µ©Óìé«®±©,<S<@V_JK©íí«®¯¶ª®°±    Ñåâ¿ïÞæëÂéâàñïæà·ÑåâÁïÞêÞñæàÅæäåªñâàåÏÞàâ ñì Êâïäâ Êæëáð Þëá ÊÞàåæëâð© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®µ©Óìé«®±©Ë쫱®© íí«®¯µª®¯¶   Oª6Eª:WE-SDOEZ5_EYO*JVEV_GVJ    ÊÞëÞäâêâëñ ¾ààìòëñæëä Þëá ÐÊÂð· Àòïïâëñ Ðñòáæâð Þëá Ñïâëáð© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé© ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®´©Óìé«®°©,<<@S _JK©íí«³®ª³´ V    Áìâð ÊÞëÞäâêâëñ ¾ààìòëñæëä ÆëãìïêÞñæìë ¾ããâàñÃæïêÓÞéòâ¼ÂóæáâëàâãïìêñåâÐñìàèÂõàåÞëäâìã ÑåÞæéÞëá©ÇìòïëÞé ìã ¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®´©Óìé«®°©Ë쫱­©íí«±¯ª²²    ÊÞëÞäâïæÞé ¾ààìòëñæëä Þëá ¾ïñæãæàæÞé Æëñâééæäâëàâ©ÇìòïëÞéìã¾ààìòëñæëäÍïìãâððæìëÞé©ÑåÞêêÞðÞñ ¿òðæëâððÐàåìì驯­®µ©Óìé«®±©,<S<@V_JK©íí«®±±ª®±¶    ÀìëàâïëðìãÆÃÏжÆêíéâêâëñÞñæìëæëÑåÞæéÞëá© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé© ÑåÞêêÞðÞñ ¿òðæëâðð Ðàåìì驯­®µ©Óìé«®±©Ë쫱®©íí«³°ª´¯   Oª;VBS9E@I*+lT=T    ÃÞæïÓÞéòâ¾ààìòëñæëäÞëáÃæëÞëàæÞéÆëðñæñòñæìëð· ÉâððìëðÉâÞïëâáãïìêñåâ ÏâàâëñÄéìßÞéÃæëÞëàæÞéÀïæðæð© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé© ÑåÞêêÞðÞñ ¿òðæëâðð Ðàåìì驯­®´©Óìé«®°©Ëì«°¶©íí«®®­ª®¯° OªB[CVBS9E`6*IS*    ÆÃÏЮ³ÞëáÑÞõÆððòâð©ÇìòïëÞéìã¾ààìòëñæëä ÍïìãâððæìëÞé©ÑåÞêêÞðÞñ¿òðæëâððÐàåìì驯­®µ©Óìé«®±©Ë쫱®© íí«¶±ª®­®   OªB[CV<6W<6W_GVJF9:Vk    ÂîòæñöÓÞéòÞñæìëÞëáÃÞæïÓÞéòâ¾ààìòëñæëä© ÇìòïëÞé ìã ¾ààìòëñæëä ÍïìãâððæìëÞé© ÑåÞêêÞðÞñ ¿òðæëâðð Ðàåìì驯­®µ©Óìé«®±©Ë쫱®©íí«°¶ª³¯   µ¾¦Ê²À̧ʠʼ´¼ÈÔ¹°ijĻÊ¼Ê  °ÍÜØIJĊ¼É³ Ê¼ijͷ̺·čÔµ»Õ·¼ĉ EJª6EªC;IV$T>6Z*LV9:Vk   7lTET$TE<S‰-W7;9Z;   7lTET$TE<S‰-W_@YgO$TE+S6$TE   EJª6EªLC-TDLZBS9E$ZG   7lTET$TE<S‰-W_@YgO$TE+S6$TE   >Jª6Eª6V-@*J@*JBS9E-SD   7lTET$TE<S‰-W-Sh;L[*·      $TEEIC:ZE$V+`GR$TE+S69lT*<$TE_*V;EIC     ÅÊĶʼ»čÔ¡ĊʼĉÀºÅ³¼º´¼È§Ðº  Âɺº²Ê°Ê¦À̧ʠʼվȲĻÊԲŠ  µ¾¦Ê²°Ê¦À̧ʠʼ¹Ê»×²´¼ÈÔ°Ĺ   Õ¾Èijĉʦ´¼ÈÔ°Ĺ   >Jª6Eª=fl‰‰TOVLERIEIT5V-    _L;O>G*T;IV+SD_EYgO*  ÀòïóæéæëâÞï ÏâéÞñæìëðåæí ßâñôââë ÀìïíìïÞñâ ÐìàæÞé Ïâðíìëðæßæéæñö Þëá ÀìïíìïÞñâ ÃæëÞëàæÞéb;$TE=ER-ZCIV-T$TEÑå⯭®´ÆëñâïëÞñæìëÞé Ðöêíìðæòêìë¿òðæëâððÞëáÊÞëÞäâêâëñªÃÞééÐâððæìë ¥ÆпʪÃÞé鯭®´¦$E*a.G=ER_9JLT:TE5E Z 2_$TMG S IW ;9S ²ª´$«D«³­ gW

 T H A M M A S A T B U S I N E S S S C H O O L 80 YEARS of PIONEERING ¹Ê£À̧ʠʼԦ̲  =$TEJX$KT¯²³­ BT'IV-T$TE_*V; CWOT+TED=1V<S7V*T;+EV* ¶';GTJX$KT7O®';EIC+lT;I;OT+TED9Sh*LVh;®­';a6DCWIZ4V $TEJX$KTER6S<=EV‰‰T_O$µ';=EV‰‰Ta9¯';6lTE*7lT`M;* 9T*IV-T$TE_=ffl;JTL7ET+TED°';EO*JTL7ET+TED¯';>[-ID JTL7ET+TED±';`GROT+TED®';  =$TEJX$KT ¯²³­ OT+TED%O*BT'IV-T$TE_*V; CW>G*T;9Wg a66_6;6T;IV-T$TEETDGR_OWD66S*;Wh     Ö£¼¦ Ê¼ÀÌĶÉ» ¼Ê»²ÊºÅÊĶʼ»č §ÏÜÅÖ£¼¦ Ê¼ Õþĉ¦Ô¦Ì²°Ð² Jª6Eª@E-SD-Z;M+V;6T LV;'TaB'BS53`GR7GT6MZ;_$V6bMC '5R@T5V-DJTL7E`GR$TE<S‰-W   b;$GZCMGS$9ES@DERMIT*=ER_9J¶   $TEIS6=ERLV9:V>G%O*$TE=ER$S;'ITC_LWgD*   ¤¿ëééëàåðåáïÝêàÁéáîãåêãÉÝîçáðï   ÏðëßçïåêÅêðáîêÝðåëêÝèÌëîðâëèåëï¶   ÉáÝïñîåêãÄáàãåêãÁââáßðåòáêáïï¥ Jª6EªOS‰‰T%S;:IV9D ©ÀåïÝììáÝîåêãÓáÝðäáîÁââáßðï¶ '5R@T5V-DJTL7E`GR$TE<S‰-W   ÁòåàáêßáâîëéÐäÝåèÝêम¬­­©®¬­²¥   ©ÅêòáïðëîïÉëëàïÝêàðäáÏðëßçÉÝîçáð   ©ÓáÝðäáî¨ÅêòáïðëîÏáêðåéáêð¨ÝêàÏðëßç   ÎáðñîêïåêðäáÏðëßçÁôßäÝêãáëâÐäÝåèÝêà >Jª6Eª-SDDZ9:>6Z*JS$6VkLISL6Vk ©'ITCLSC@S;:_-V*@GIS7ERMIT*6S-;W '5R@T5V-DJTL7E`GR$TE<S‰-W   'ITC_-YgOCSg;ET'T9O*'lT`GR7GT6MGS$9ES@D   ¤ËêðäáàõêÝéåßîáèÝðåëêÞáðóááê   ãëèàìîåßáïáêðåéáêðåêàáôÝêàïðëßçéÝîçáð¥   ©@F7V$EEC$TEG*9Z;7TC$S;`GRGS$K5R   %O*$V+$TE¶MGS$2T;+T$=ER_9Jc9D   ¤Äáîà¾áäÝòåëîÝêàÂåîé¿äÝîÝßðáîåïðåßï¶   ÁòåàáêßáâîëéÐäÝåèÝêॠ  Oª6EªLS$$T'CC5W;@ ½îáãëëà©ãëòáîêÝêßáïðëßçïÝóåïá '5R@T5V-DJTL7E`GR$TE<S‰-W   åêòáïðéáêðåêðåéáïëââåêÝêßåÝèßîåïåï»    IJĊʲ³Ð£¾Ê ¼    IJĊʲÀ̧ʠʼվÈÀÌĶÉ» EV* 4V ;* ID