pressure during the low season and flood impact, temporarily boosting purchasing power and alleviating some local concerns. The mobile industry maintained positive sentiment despite the low season, along

institution, enabling us to cope with possible economic fluctuations in a timely manner. C Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in 2017 and

2018 expanded continuously on the back of robust exports and tourism, which is supported by stronger global economic conditions. Exports and tourist arrivals rose by 9.9 percent and 15.4 percent, from

shareholder attending the meeting, and has voting rights, excluded the vote of shareholders who has conflict of interest. Furthermore, there is a resolution passed to confer the power regarding (1) the

meeting, and has voting rights, excluded the vote of shareholders who has conflict of interest. Furthermore, there is a resolution passed to confer the power regarding (1) the determination, and alteration

E_1 Legal_FA_2015_12_29-c A CCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended June 30, 2017 The global economy in the second quarter of 2017

half of the year. Against the backdrop of the global trade slowdown and uncertainty over US trade policy, merchandise exports in 2018 expanded by 7.7 percent, down from 9.8 percent growth in 2017

announced in many countries, severely impacting both the tourism service sector and related businesses. Meanwhile, merchandise exports shrank as the global demand weakened due to lockdown measures and supply

to a stronger growth of trading partners’ economy, and in terms of prices on the back of rising global crude oil price. Tourism sector continued to expand, private consumption gradually increased

expanded at a slower pace compared to the previous quarter, with merchandise exports contracting as global trade weakened, resulting in a decline in domestic industrial production. Meanwhile, tourism