Please find attached the draft assumption recommendation of PTTES of 20015 valuation for your review and confirmation. In this year, most of assumptions are recommended changes as follow
1) Discount rate - Using 3.2% p.a. according to the current govt bond yield
2) Salary Increase - Applying age-related 8.0%/7.5%/7.0%/6.5% which accounted for 7.2% average per annum (See paragraph 28 for reference)
3) Turnover rate - Applying age-related 13.0%/7.0%/0.0% which accounted for 7.2% average per annum (See paragraph 45 for reference)
4) Mortality - Using TMO2008 with add-on mortality improvement rate 3% p.a.
5) Gold price - Using 18,800 THB per one baht gold weight