October 9, 2020

Thai Enquirer Summary

Political News

Months after the opposition accused the government of embattled Prime Minister Prayut

Chan-o-cha and the military of undertaking ‘Information Operations’ (IO), social media

giant – Twitter, late last night came out to announce that it has unearthed 926 accounts

which could be “reliably linked to the Royal Thai Army and was actively engaged in

information warfare against the government’s political opposition.

Twitter uncovered a network of accounts “partaking in information operations”

against prominent anti-government figures and opposition politicians.

Twitter said it had new data adding to its archive of information operations, with

networks affiliating with Iran, Thailand, Cuba, Saudi Arabia & a previously

disclosed network from Russia.

A total of 1,594 accounts were found globally and nearly 59 per cent of

these belonged to the Royal Thai Army who were targeting the opposition.

2nd

to Thailand was Cuba with 526 accounts

3rd

was Iran with 104 accounts

4th

was Saudi Arabia with 33 accounts

5th

was Russia with 5 accounts

To take a look at the statement by Twitter please click

https://blog.twitter.com/en_us/topics/company/2020/disclosing-

removed-networks-to-our-archive-of-state-linked-information.html

Political analysts are likely to say that this is going to be another issue that could trigger a

higher number of people coming out to protest on October 14th

when the students plan to

undertake their protest that they hope would see as many as last major protest which had

about 70,000 to 100,000 people attending at Sanam Luang (the students renamed the area

into Sanam Rasadorn).

Yesterday the student leaders gathered to announce their plans for the rally

In the lead-up to a major anti-government rally scheduled for October 14, human

rights lawyer Anon Nampa, one of protest leaders, announced to lead protesters to

extend the mass rally for as long as it takes if the government refuses to give in to

its demands.

Anon and student activists including Jutatip Sirikhan, president of the Student

Union of Thailand (SUT), Panusaya “Rung” Sithijirawattanakul, leader of the

United Front of Thammasat and Demonstration, Panupong “Mike Rayong”

Jaadnok and Jatuphat “Pai” Boonpattaraksa read out a statement announcing the

reincarnation of the “Khana Rasadon” (the People’s Party) operated by the Free

People and Free Youth Movements.

They also promised “a surprise” during the protest and that they will not to block

the road when a motorcade carrying His Majesty the King is to pass through the

area, on its way to the Temple of the Emerald Buddha, to preside over a ceremony

to make presentations to monks who have completed high levels of Buddhist

studies.

The group continued pressing for 3 demands including the resignation of Prime

Minister Prayut Chan-o-cha, reform of the Monarchy and the opening of a special

parliamentary session to rewrite the Constitution.

Following the group’s press conference yesterday (October 8), Anon took to his

Facebook page saying that he had received a death threat from a man who threatened him

if the group continued to offend the Monarchy.

Former Red Shirt leader who changed sides to join the government of Gen. Prayut,

Suporn Atthawong, vice minister of the Prime Minister’s Office, claimed that ex-

politicians, former MPs of a now-defunct party and current MPs who are government

opponents were masterminds behind student-led rallies.

He also accused a former MP of the now-dissolved Future Forward Party of

giving speeches in several provinces to stir up anti-government sentiment and

being behind the mobilisation of crowds to join student rallies in Bangkok.

Suporn said he received information that that opponent MPs have paid for travel

expenses for protesters from the provinces to join the planned major rally. Suporn

said however these MPs failed to enlist supporters because many locals decided

not to join the planned rally because they realised that the rally is not about

calling for democracy but targeting the Monarchy.

He is currently compiling evidence to support his claim for ex-politicians and

opposition MPs who are behind the anti-monarchy movement for authorities to

take legal action against them.

Meanwhile, the 1992 May Heroes Relatives Committee ramped up pressure on the

Democrat Party to withdraw from the coalition.

At the Democrat Party, committee chairman Adul Khieuboribun and around 20

committee members submitted a letter to Deputy Prime Minister and Commerce

Minister Jurin Laksanavisit, as the Democrat Party leader, to take the Democrat

Party out of the coalition to pave the way for a selection process for a new prime

minister as a way to resolve the current political impasse.

Adul said he was deeply concerned by the student-led rally scheduled for October

14 in which protest leaders are calling for monarchy’s reform.

Adul said his groups supports student leaders’ demands for the resignation of

embattled Prime Minister Gen Prayut Chan-o-cha but without touching on the

Monarchy.

Adul said it is now time for the Democrat and Bhumjai Thai parties to remove

themselves from the coalition to pave the way for a new government to be

installed.

On the charter amendment issue, senators still refused to back calls for an amendment of

Section 256 to allow a new constitutional drafting panel to be formed. This could derail

the entire process seeking to amend the constitution, Natchanon Srikorkua, a Bhumjaithai

MP from Songkhla as secretary of the House committee assigned to study charter

amendments, revealed.

Natchanon said the Senate viewed that amendment of Section 256 is to allow the

country to enact an entirely new constitution, not just section-by-section changes.

The committee is set to hold a 3-day meeting from October 14 to 16 to discuss

progress on charter amendment motions.

On local elections, Deputy Prime Minister Wissanu Krea-ngam has hinted at the

possibility that provincial administrative organisation (PAO) elections and a national

referendum on charter changes could be held at the same time to save money.

Wissanu’s comment came following concerns that local polls could be delayed

again if they clash with a referendum on charter amendments.

Concerns were raised as the EC had noted that polling would be around 60 days

away from another vote so that the EC is able to organise elections properly.

Ex-army chief Gen Apirat Kongsompong is reported to enter a monastery for 1 month at

the Wat Hong Rattanaram Temple in Bangkok. He was ordained a monk in the presence

of relatives and friends, as well as military officers and police officials.

The spectrum of conflict between Phalang Pracharat Party (PPRP) MP Sira Jenjaka and

Bangkok governor Pol Gen Aswin Khwanmuang appears to keep deepening as the House

committee on laws, justice and human rights chaired by Sira announced plans to summon

the Bangkok Governor, Bang Khen Police superintendent Pol Col Atthaphol Meeseung

and Bang Khen District chief Sombut Worasinwattana to explain a violent brawl recently

broken out at Por Kung Pow Restaurant near Laksi-Saphan Mai on Theparak Road.

The Sira-headed committee resolved to invite the 3 figures to give their

statements in relation to the incident. Sira related the incident to the fact that

illegal pubs, bars and night entertainment venues have been allowed to open

without licenses. He wants to hear details of the incident and an explanation from

Pol Gen Aswin.

Interestingly, the move came after Sira came out to call for Assawin to step down

as Bangkok governor.

The National Anti-Corruption Commission (NACC) revealed the assets and liabilities of

3 cabinet ministers after being dropped from the cabinet in July 2020 including former

inance minister Uttama Savanayana, former energy minister Sontirat Sontijirawong and

former labour minister Chatumongol Sonakul.

According to a report released by the NACC yesterday (October 8), Uttama had

230,823,088 baht; most of his assets are bank deposits. Uttama reported total

assets of 223,866,935 baht prior to taking office at the Finance Ministry portfolio

on July 16, 2019. He sees an increase of assets since taking office by more than 7

million baht.

Sontirat had 158,183,198 baht worth in assets including 93 million baht worth of

investments and 68 lists of assets worth 60.6 million baht. Sontirat saw about 9

million baht more than 149,131,970 baht he declared on assuming the cabinet

post.

Chatumongol Sonakul had 462,446,853 baht in assets in July 2019, about 41

million baht more than the 421,391,723 baht declared earlier.

Economic News

Dhanin Chearavanont, senior chairman of Charoen Pokphand Group (CP), urged the

government to issue a 30-year bond to provide liquidity to Thai business as he pointed

that the Thai economy cannot survive a prolonged virus crisis by relying on government

economic stimulus measures and tax rebate schemes to stimulate domestic spending

alone.

Dhanin suggests issuance of a 30-year bond to provide 10 trillion baht to revive

the economy.

The opening up of the country to international tourists amid restrictions on travel

and limitations on government stimulus measures are not enough to resuscitate

the economy, pointed CP senior chairman as he pleaded the government to help

SMEs.

Thai Airways International Plc (THAI)’s union urged THAI employees to wear black

during 9.00-12.00 hrs today (October 9) at THAI head office in protest against the

appointment of Ponguma Didyasarin, the wife of ACM Chaiyapruk Didyasarin, chairman

of the board, as acting corporate social responsibility (CSR) director.

THAI’s union decried Ponguma’s appointment, perceived it as the lack of

transparency amid the airline’s rehabilitation at the Central Bankruptcy Court.

The union also opposed THAI’s financial commitment to its sister airline Thai

Smile Airways.

Tada Phutthitada, president of the Thai Bond Market Association (Thai BMA), came out

to call on the government to set up a corporate bond guarantee fund in order to rescue

tourism-related industries that have been hit hard by the Covid-19 pandemic.

The fund may be set up by the government with a fund size of 50 billion baht,

which would enable it to guarantee corporate bonds up to 125 billion baht, or 2.5

times, he said.

Tourism-related industries, such as hotels, could raise funds by issuing bonds

with 3-year maturity and the guarantee fund will compensate investors when

issuers default on payment, said Tada, pointing that 3-years maturity would be

enough as tourism is likely to recover from the coronavirus outbreak.

In the first 9 months this year, companies issued bonds worth 540 billion baht.

They are expected to raise funds via bonds for the rest of the year, said Tada, and

forecast total corporate bonds worth 800 billion baht for this year.

Outstanding bonds in the first 9 months rose 5.09 per cent to 14.2 trillion baht

from the end of last year. The issuance of government bonds contributed to the

rise of outstanding bonds, but outstanding corporate bonds dropped.

The University of the Thai Chamber of Commerce (UTCC) reported yesterday that the

consumer confidence index dropped to 50.2 in September from 51 in August, following

readings of 50.1 in July, 49.2 in June, 48.2 in May and 47.2 in April.

"Overall consumers are increasingly worried about political stability after several

political protests were held in September and the finance minister abruptly

resigned," said Thanavath Phonvichai, the UTCC president. "People also fretted

over the slow recovery of the economy and job-loss prospects. The prolonged

outbreak also results in a negative impact on domestic purchasing power, tourism,

exports and general businesses."

He said consumers are expected to slow their spending until the fourth quarter of

this year or until the end of the crisis.

Foreign investor’s dumped Thai shares worth more than 276 billion baht over a 9-month

period of this year, dragging down the Thai bourse to dip below the 1,300 mark at

1,237.04 points in September, down 25.8 per cent year-on-year, according to Stock

Exchange of Thailand (SET) senior executive vice-president Soraphol Tulayasathien.

The combined net profits of SET-listed companies were forecast to stand at 613

billion baht this year and 785 billion baht next year, said Asia Plus Securities’

executive vice president of research Therdsak Thaveeteeratham. Listed

companies’ profit next year to average 72.51 baht per share from 56.65 baht per

share this year, as the quarterly profit is expected to bottom out since the second

quarter of this year.

Therdsak expected the SET to hit 1,450 points next year and 1,526 points if the

Bank of Thailand’s Monetary Policy Committee cut the interest rate 1 more time

this year.

“The positive sentiment that would help boost the SET is high liquidity of

15.5 trillion baht, higher than the index market capitalisation of 13 trillion

baht. According to previous statistics, the cash is likely to flow into the

index when the deposits are higher than the index market capitalisation,

especially when the interest rate is likely to stay at a low level for 1-2

years because the return on deposit was not high,” he said.

He also predicted that foreign funds would likely return to the market after they

continued selling until their shareholding in the Thai stock market fell to 25.8 per

cent currently.

Today is the 1st day trade of NR Instant Produce Plc (NRF)

The Initial Public Offering was at 4.60 baht a share

Bualuang Securities initiated a coverage of this company with a ‘Buy’ rating and

put a target price of 8 baht a piece for fiscal year 2021.

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General News

Thailand logged 7 new cases, all in state quarantine, as reported yesterday (October 8) by

the Centre for Covid-19 Situation Administration (CCSA).

Among the seven new infections, five are Thais, including two women returning

from Hungary and one each returning from the United Arab Emirates, the

Netherlands and India.

A 61-year old American, arriving from the US, and a Kuwaiti woman arriving

from Kuwait have also tested positive for COVID-19 while in quarantine.

Cumulative infections in Thailand, to date, are 3,622 while the number of

recoveries has increased to 3,439, with 124 others still being treated in hospital.

The death toll remains at 59.

Political News Headlines in Thai Media

Twitter revealed on Thursday that it had uncovered a network of accounts “partaking in

information operations” against prominent anti-government figures and opposition

politicians.

o Link- https://www.thaienquirer.com/19487/breaking-twitter-reveals-962-social-

media-accounts-run-by-the-thai-army-to-discredit-political-opponents/

Germany is considering a proposal to halt free trade talks between the European Union

and Thailand due to the Thai government’s undemocratic practices, according to debate

within the Bundestag this week.

o Link- https://www.thaienquirer.com/19479/germany-considers-halting-fta-

negotiations-with-thailand-over-suppresion-of-democracy/

Prayut Chan-ocha, is not listening to the demands of the pro-democracy protestors. Why

should he? After all, in his mind, he is completely legitimate.

o Link- https://www.thaienquirer.com/19429/opinion-prayut-is-using-age-old-excuses-

to-tarnish-the-students-reputation-because-he-fails-to-listen/

The pro-democracy activist group, “Free People”, gathered in Bangkok’s Sanam Luang

on Thursday afternoon to officially announce details of the October 14 protest.

o Link-

https://www.nationthailand.com/news/30395852?utm_source=category&utm_mediu

m=internal_referral

A well-known whistle-blower unveiled another corruption case in the Army on Thursday

after he was allegedly forced to falsely withdraw travel allowance in his own name.

o Link-

https://www.nationthailand.com/news/30395850?utm_source=category&utm_mediu

m=internal_referral

Former Army chief General Apirat Kongsompong went into monkhood on Thursday at

the Hong Rattanaram Ratchaworawihan temple in Bangkok.

o Link-

https://www.nationthailand.com/news/30395831?utm_source=category&utm_mediu

m=internal_referral

A senator’s car, which was parked in a prohibited zone and blocked other people’s access

to the area on Thursday morning, has won a lot of backlash on social media.

o Link-

https://www.nationthailand.com/news/30395838?utm_source=category&utm_mediu

m=internal_referral

Deputy Prime Minister Wissanu Krea-ngam on Thursday said it is possible to hold

provincial administrative organisation (PAO) elections and a national referendum on

charter amendments at the same time to save money.

o Link- https://www.bangkokpost.com/thailand/politics/1999043/pao-polls-charter-

vote-can-be-held-simultaneously

Economic News Headlines in Thai Media

Shares of DELTA Electronics Plc (DELTA) rose by 11.45 per cent to 199.50 baht per

share after Thursday’s morning session ended, an increase of 20.50 baht, making it the

most active trading stock with a transaction value of 1,104.2 million baht.

o Link- https://www.thaienquirer.com/19472/delta-surges-sharply-as-market-sees-

increase-in-cloud-products-demands/

Consumer confidence drop for the first time in five months because of rising political

tension, the University of the Thai Chamber of Commerce (UTCC) said on Thursday.

o Link- https://www.thaienquirer.com/19468/consumer-confidence-drops-for-the-first-

time-in-five-months-because-political-instability/

Thailand has been a victim of its own success in eliminating domestic Covid-19

infections and must find a way to balance the needs of the economy with virus

prevention, the US ambassador to Thailand said while on a recent mission to the Eastern

Economic Corridor (EEC).

o Link- https://www.bangkokpost.com/business/1999163/us-envoy-says-thailand-is-a-

victim-of-its-success

An Energy Ministry news source revealed that Deputy Prime Minister and Minister

Supattanapong Punmeechaow is planning to nominate ministry permanent secretary Kulit

Sombatsiri as the new board chairman of PTT Plc to replace Krairit Euchukanonchai,

who will turn 65 in December and therefore can no longer remain a board member of a

state enterprise.

o Link-

https://www.nationthailand.com/news/30395809?utm_source=category&utm_mediu

m=internal_referral

The Government Housing Bank (GHB) is offering special housing loans to medical

professionals as a way of thanking them for their dedicated work during the Covid-19

outbreak.

o Link-

https://www.nationthailand.com/news/30395844?utm_source=category&utm_mediu

m=internal_referral

The Centre for Economic Situation Administration on Thursday decided to extend the

government’s “Rao Tiew Duay Kan” (We Travel Together) and “Kum Lung Jai”

(Encouragement) stimulus packages to January 31, 2021.

o Link-

https://www.nationthailand.com/news/30395840?utm_source=category&utm_mediu

m=internal_referral

More than 200,000 retailers have registered in the “Kon La Khreung” (Let’s Go Halves)

economic stimulus package and the number is expected to rise before the scheme kicks

off on October 23.

o Link-

https://www.nationthailand.com/news/30395833?utm_source=category&utm_mediu

m=internal_referral

Bangkok governor Pol General Aswin Kwanmuang, accompanied by Bangkok

Metropolitan Administration officials, visited the Bangkok Mass Transit System (BTS)

Gold Line’s Krung Thonburi station on Thursday to check its progress.

o Link-

https://www.nationthailand.com/business/30395858?utm_source=category&utm_me

dium=internal_referral

Thai Smile Airways, a subsidiary of Thai Airways International, plan to fly on four new

routes in the last quarter of this year, chief executive officer Charita Leelayudth said.

o Link-

https://www.nationthailand.com/business/30395864?utm_source=category&utm_me

dium=internal_referral

The Small and Medium Enterprise Development Bank of Thailand (SME D Bank) has

joined forces with General Electronic Commerce Services (GEC) on improving SMEs’ e-

commerce potential via The Hub Thailand platform to increase their market channels and

revenue.

o Link-

https://www.nationthailand.com/business/30395832?utm_source=category&utm_me

dium=internal_referral

The international airport on the renowned tourist island is on course to receive at least

15,000 domestic passengers per day during the resort island's annual vegetarian festival

from Oct 16 to 25, to generate about 200 million baht for the ravaged local economy.

o Link- https://www.bangkokpost.com/thailand/general/1998951/phuket-veggie-

festival-spurs-airport-passengers

With the US presidential election fast approaching, geopolitics will remain a factor

causing turbulence in stock and bond markets worldwide until early November, says the

Stock Exchange of Thailand (SET).

o Link- https://www.bangkokpost.com/business/1999047/set-geopolitics-key-in-

upcoming-market-activity

Fast Auto Show Thailand organisers expect used car trade will stand at 1.5 million

transactions in 2020, a 5% dip from last year, but are still optimistic about a better

outlook than for new car sales.

o Link- https://www.bangkokpost.com/business/1999035/used-car-traders-optimistic

The government's proposed "Shop Dee Mee Kuen" (Shop and Payback) scheme will

boost the national economy only in the short term, according to the Kasikorn Research

Centre.

o Link-

https://www.nationthailand.com/news/30395867?utm_source=category&utm_mediu

m=internal_referral

Issues to be watched out for

October, 2020 – The bidding for construction and operation for the 140-billion-baht

Orange Line western extension linking the Thailand Cultural Centre with Bang Khun

Non.

October 2020 – The Trade Competition Commission is set to rule on CP’s acquisition of

Tesco Lotus’s Asia business in a deal worth US$10.6 billion.

October, 2020 – The Thailand Grand Prix was rescheduled after being postponed due to

the coronavirus outbreak.

October 12, 2020 – Deadline for applications for the RECO Young Designer Competition

hosted by Indorama Ventures Plc (IVL).

October 14, 2020 – A major anti-government rally by various groups led by the

Democracy Restoration Group (DRG) at Democracy Monument. The same day marks the

anniversary of the 1973 student uprising.

October 16, 2020 – Registration for the 3-month economic stimulus package called “Khon

La Khrueng” (Let’s Go Halves) will open for some 10 million Thai nationals over the age

of 18 through the www. คนละครึ่ง.com website.

October 21, 2020 – The House committee assigned to study charter amendment bills is

expected to complete its study and submit its report to parliament on the next day.

October 23 -December 31, 2020 – 14 million welfare cardholders will receive an extra

monthly discount of 500 baht on their shopping under the government’s economic

stimulus package.

October 27, 2020 – The Central Bankruptcy Court is set for first hearings for Nok Airlines

regarding the rehabilitation process.

October 28, 2020 – The Constitutional Court is set to rule on the fate of 64

parliamentarians from both government and opposition camps over media-shareholding

cases.

November 1, 2020 – The second batch of 120 foreign tourists issued with the Special

Tourist Visa (STV) scheme from Scandinavian and Schengen countries on a Thai Airways

International (THAI) flight and land at Suvarnabhumi Airport.

November 1, 2020 – The next parliamentary session will begin.

December 2020 – The Federation of Thai Industries (FTI)’s “Faster Payment” scheme to

increase liquidity for small and medium-sized enterprises (SMEs) during the pandemic is

set to end.

December 20, 2020 – Tentative date for elections of Provincial Administrative

Organizations (PAOs) in 76 provinces.

February 28, 2021 – Tentative date for municipality elections and the election of tambon

administrative organizations (TAOs).

April, 2021 – The central bank plans to officially implement the new rule on the rate of

penalty imposed on loan defaulters in a bid to ease borrowers’ burdens and motivate them

to repay their debts.

Key Data

SET Index 1,274.83 +11.12

Link - https://www.set.or.th/en/company/ipo/upcoming_ipo_set.html

Global Commodities

Metal -Link http://www.bloomberg.com/markets/commodities/futures/metals/

Energy -Link - http://www.bloomberg.com/energy/

Baltic Dry Index (BDI)-Link - http://www.bloomberg.com/quote/BDIY:IND

Global Equity Market’s Movements

Link - http://www.bloomberg.com/markets/stocks/world-indexes/asia-pacific/

Asian Equity Markets Movement

Link - http://www.bloomberg.com/markets/stocks/world-indexes/

Information on October 8, 2020

Buying, Selling or Transfer of shares by Owners/Management

Stock Code Volume Value Action

AIMIRT 40,000 13 Purchase

ALT 28,605,000 3.5 Purchase

ALT 28,605,000 3.5 Purchase

BDMS 20,000 19 Purchase

BLA 6,794,102 - Acceptance of Transfer

BM 1,000 2.14 Purchase

BAY 100 19.4 Sale

BAY 100 28 Purchase

Revoked by

Reporter

CHG 100,000 2.37 Purchase

CKP 1,294,800 4.94 Purchase

CKP 578,500 4.92 Purchase

CKP 687,000 4.96 Purchase

CPW 200,000 2.7 Sale

EP 150,000 3.84 Purchase

LIT 5,000 3.26 Sale

RCL 250,000 5.8 Purchase

SYNEX 1,400 14.8 Purchase

SYNEX 1,400 15.4 Sale

TKN 2,000,000 12.14 Sale

UTP 50,000 14.6 Purchase

XD, XE or XM or other notifications

For list of Companies that have dividend payment and AGM meeting schedules click on

http://www.set.or.th/set/calendarofevents.do

Trading Breakdown on the Stock Exchange of Thailand

Daily as of 8 Oct 2020 Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 6,698.95 11.96 6,451.50 11.52 247.45 -

Proprietary

Trading

8,119.50 14.5 6,959.92 12.43 1,159.58 -

Foreign Investors 17,993.21 32.12 18,622.17 33.25 -628.95 -

Local Individuals 23,200.86 41.42 23,978.94 42.81 -778.08 -

Monthly Cumulative between 1 - 8 Oct 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 34,185.46 11.27 31,244.41 10.3 2,941.05 -

Proprietary

Trading

38,768.14 12.78 37,388.14 12.32 1,380.00 -

Foreign Investors 101,074.75 33.31 107,762.91 35.51 -6,688.16 -

Local Individuals 129,415.03 42.65 127,047.92 41.87 2,367.11 -

Yearly Cumulative since 1 Jan - 8 Oct 2020

Unit: M.Baht

Investor Type Buy Sell Net

Value % Value % Value %

Local Institutions 1,301,982.59 10.94 1,230,869.20 10.34 71,113.39 -

Proprietary

Trading

1,243,901.65 10.45 1,240,210.46 10.42 3,691.19 -

Foreign Investors 4,180,180.94 35.11 4,464,543.09 37.5 -

284,362.15

-

Local Individuals 5,178,488.09 43.5 4,968,930.52 41.74 209,557.58 -

Total Trading Value 56,012.52 Million Baht

Background Information –  

The strength of each party in the Thai Parliament as of May 8, 2019 as per the report by the

Election Commission of Thailand. Elections took place on March 24, 2019

https://www.ect.go.th/ect_th/news_all.php?cid=24

List of MPs - https://www.ect.go.th/ect_th/download/article/article_20190508184334.pdf

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situation.