specialty retail category expansion and growth of online and omnichannel sales, partially offset by a slight decrease in sales of goods our Italian department store category, attributable to the closure of

operations were very strong; recording 53.5% growth year-on-year. Portugal operations were also growing, recording 6.6% growth year-on-year. Both Thailand and Portugal operations outperformed average industry

revenue was higher than industry growth (in terms of production volume) of 6.1% due to the following reasons: 1) Automotive Parts Business; Higher order, new model launch which started in Q3 last year, new

launch in the fourth quarter of 2024. Overall, the company continues to maintain steady growth in both sales and profits. 2. Significant events and developments The company has a total of 1 1 5 branches

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4

disclosed or proceeded with in accordance with the Notifications on Acquisition and Disposition. However, Miss Kritchanok Pattamasattayasonthi is considered to be connected person as a spouse of Mr. Arak

offering document/prospectus and the information of the ARFP Passport Fund will be disclosed and distributed without delay to members of the Passport Fund/ Regulated CIS (unitholders) in Thailand, and in

hold right, it shall clearly specifies that the estimated return does not include unitholders’ capital; (5) details of the fund’s investment under (1)(a) shall be disclosed, of which at least the

unitholders’ capital; (5) details of the fund’s investment under (1)(a) shall be disclosed, of which at least the following particulars, which are the same as those contained in the mutual fund management