lower demand from foreign trading partners affecting the export sector. The local political uncertainties that arose in this quarter further added pressure and caused delayed investment decisions in
, VGA products were in extremely high demand, further exacerbated by delayed imports, resulting in shortage and skyrocketing price in response to market dynamics. However, in 2022, the shortage of VGA
including utility bills and tax campaign which temporarily stimulated the private consumption. Nonetheless, inherent risks lay in structural challenges such as high household debt, delayed government budget
quarter of year 2024 6 the postponed 2024 budget. While demand for new vehicles remains solid, it is currently delayed due to stricter financing options. It’s important to emphasize that the company
problems from delayed projects and unexpected budget allocation of Government Projects. Expansion to private sector will result diversification of risk from variety of customers and source of income and cash
additional support from the government project. Meanwhile, government spending remains the main supporting factor for the Thai economy even in this quarter slowed down as the delayed in budget disbursement. As
2020 MD&A 6 We are seeing a trend in industry that due to poor margin number of cracker, PO/MTBE projects have been delayed to conserve cash; this will help to restore the margin to replacement