Microsoft Word - FY19 MDA edited after comment.docx 1 FY19 MD&A Advanced Info Service Plc. Executive Summary Mobile business grew amid competition In FY19, despite slow economic growth and continued

Highlights Opening of major outlets has been slowed down while pop-up stores are more in focus Responding to the moderate economic situation in Thailand, After You has slowed down branch investments and

United States, caused slowdown of the global economic growth and resulted to the narrow of metallic spread. The company's gross profit margin fell from 5.7 percent in 2017 to just 0.9 percent in 2018 which

war between China and the United States, caused slowdown of the global economic growth and resulted to the narrow of metallic spread. The company's gross profit margin fell from 5.7 percent in 2017 to

intervention of the government to determine the CPO pricing policy, economic change, climate change, and demand and supply. In the past 2 years, CPO’s world and Thai’s market had been highly volatilized. The

appropriate for the Company to be able to dispose of the assets at a price consistent with the market and industry conditions in the economic downturn. In addition, Land and Buildings thereof is also an asset

the Company to be able to dispose of the assets at a price consistent with the market and industry conditions in the economic downturn. In addition, Land and Buildings thereof is also an asset in the

from the slow economic growth of trading partners, the protectionist trade policies between the US and China and the down-cycle of electronic products. In the tourism sector, the number of tourist

determine the CPO pricing policy, economic change, and climate change. However, the determined policy and controlling the rate of loss cannot eliminate all the risks, they were just reduced the risks and

Directors is of the opinion that the price not over Baht 60 Millions. The Internal Rate of Return is 15.74% and Economic Internal Rate of Return is 26.79% 8.2 Opinion of the Board of Directors about condition