partly because the overall household purchasing power was not sufficiently strong and household debt remained elevated. Private investment picked up in line with the improved economic outlook, and with

electricity in Bang Pakong Power Plant, Chachoengsao Province. Until the end of 4th quarter of 2019 (November), palm fruit and CPO prices began to increase due to most of the arable land faces drought

situations. Another factor of economic slowdown was the drought directly affecting agricultural products as well as their decreasing prices, causing the decrease of the domestic market’s main purchasing power

quarter of 2019 continued to expand driven mainly by domestic demands. Private consumption expanded in all categories supported by the improvement in purchasing power from the rise in farm and non-farm

is the Company’s connected party, to own and have the absolute controlling power in the project SHAA Asoke; 2) investment in ONE CITY CENTRE (“OCC”) – grade A office building development project for a

estate developer and its customers. Although overall economy is soft, the Company’s target group of customers can maintain their purchasing power.   For recurring income business, the Company had adjusted

target group of customers can maintain their purchasing power. For recurring income business, in November 2019, the Company kicked off the construction of “Hotel Kitch”, a 72-room hotel that will be

needed should also be given; 2. If the objective above is to invest in a future project, disclose the details as specified in the Future Projects Section; 3. In case of a transaction with a person with a

. On the domestic front, elevated household debt remains a constraint to purchasing power. In the meantime, domestic political situation also warrants monitoring as the government is preparing for an

the connected persons. “related party transaction” means the execution of the transaction between a company or its subsidiary and the related person of the company. “related person” means a related