and businesses with strong growth potential. Demand for loans from SMEs has slowed down and is concentrated in some areas, particularly Bangkok; while in the provinces demand is relatively stable

yields so the company and its subsidiaries have selected IFF, PF and REITs with strong foundations. As a result, the average dividend yield per year is around 7%, higher than the average annual dividend

policy tools if needed. The BOT has forecast an -8.1 percent for the Thai economy this year, a sharper contraction than the previous projection of -5.3 percent, due to lockdown measures for the strong

loan (NPL) ratio was at 3.6 percent with strong loan loss reserves to NPL at 183.4 percent. The Bank continued to focus on prudent control over credit underwriting and risk management to ensure loan

appoint the representative as not an executive who controls power in normal operation of NDR categorized as connected transactions regarding to the Capital Market Supervisory Board Announcement TorChor 21

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1/2018 GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED Management Discussion & Analysis

. Nevertheless, Thailand continued to maintain its strong external fundamentals over the course of 2018 with a current account surplus of approximately 7.5 percent of GDP and international reserves standing at 1.3

Page 2 Management Discussion and Analysis 1. Power Industry and Competition 1.1 Electricity industry and Economic situation in Thailand Thailand’s economy expanded by 2.4 percent in 2019, lower than 2018

domestic and international arena with a strong commitment in growing the energy business by innovatively develop the Energy Storage System (ESS) to become a leading, innovative and sustainable global power

PowerPoint Presentation MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q4/2017 and FY2017 GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP Management Discussion