r 20% 18%- • 16% - Id% - 12% 10% - 6% 4% - 2% - 0% ..lareettt Jan60 An.I* Jan.I1 jao.12 Jan13 stb of Loss Listing Enterptse %M total Lai9e MMerbun Anew %kr Icons gtowth IOH61 sera. Damao 1st CPC Aresto Awe's, 35% 30% 25% 20% 15% 10% 5% 0% r Figure 16: SOEs' RoA has not picked up, desp