. Overall market environment The Thai economy continued to expand mainly from 2 key drivers relating to external factors, in line with the recovery of the overall global economic conditions (Global

from 3.3 percent in 2016 on the back of rising exports and a robust tourism sector, consistent with a stronger recovery in global demand. Headline inflation rose to 0.7 percent, following higher energy

. ▪ The THB 83.64-million-reversal of doubtful debt recorded in 2018 came mainly from the repayment of a fully amortized debt from MDX Asset to our 2 subsidiaries for a total of THB 70.85 million and also

and the Reversal of loss on devaluation of inventories. Another key factor in reduction in Cost of Goods Sold is the change in estimated useful lives of fixed assets as disclosed in the Note to

) and service sector from tourism related. Non-durable and semi-durable goods also showing signs of recovery supported by the increase in farm incomes. Meanwhile, private investment also started to

underwriting amounted to Baht 7.95 million, an increase of Baht 16.08 million, as the ratio of net claims (less claim recovery from reinsurers) over earned premium during the same period last year decreased from

% – 74.3% throughout the year 2017, over the cycle, anyhow overall went on at higher level than previous year, somewhat improved indicates the recovery trend, but not too much while big portion of idle

production capacity utilization ratio swung between 67.6% – 74.3% throughout the year 2017, over the cycle, anyhow overall went on at higher level than previous year, somewhat improved indicates the recovery

) (146,038.20) 5,468.12 (3.74) Cost of Service (59,327.70) (13,389.70) 45,938.00 (343.08) Gross Profit 87,154.66 70,403.24 16,751.42 23.79 Reversal (loss) of doubtful account 14,238.71 5,026.23 9,212.48 183.29

external fronts that may affect exports and tourism, and the recovery of domestic demand was not yet sufficiently broad-based. Meanwhile, financial stability remained sound. In this light, monetary policy