4.2 percent in 2018. Against the backdrop of a global trade slowdown and US-China trade uncertainty, merchandise exports and imports for the year contracted by 2.7 and 4.7 percent from 2018

the previous year, mainly due to the sharp lower of purchasing power in most industries, as well as the strong competition in the stainless steel pipe, aluminum and copper. This caused the decreasing in

, outbound tourists, and economic activity. However, the rising inflation was an emerging factor pressuring purchasing power for price-sensitive consumers to look for cheaper packages. • Competition in the

167mn Impacts of Coronavirus Disease 2019 (COVID–19) COVID-19 is profoundly impacting the global economy, especially the hospitality sector which is the main business of the Company. Almost all of our

the year. Foreign purchasing power was greatly contracted by the impact of trade war affecting the sales volume while the falling price of raw materials in global market and intensive competition among

as the rise of e-commerce and growing global supply chains, both of which limited the pricing power of domestic firms. As a result, Thailand’s nominal GDP increased by 6.3 percent, leveling at Baht

, 2018, which was passed to approve the acquisition of 75 percent of shares in VGI Global Media (Malaysia) Sdn. Bhd. (“VGM”), at the purchase price totaling of THB 360,000,000, from VGI Global Media Public

, which is partly due to global economic recovery, as well as the growth in exports of electronic goods which supports Internet of Things (IoT). Private consumption expanded at a moderate pace as overall

support of investment and private spending as well as bolstering opportunities for other economic sectors. Nonetheless, protectionism triggered by the US-China trade dispute dealt a blow to global economic

sustain its growth. Overall, however, it was plagued by weak exports and tourism amid the global economic slowdown. Aside from these challenges, businesses had to contend with more complex competition