of 2017 continued to recover, primarily supported by the expansion in exports and tourism. Exports registered an 8.0 percent growth year- on-year as a result of higher exports of various types of goods

observed a growth in subsidiary business especially in distress debt management and mobile phone distributor. The details of the Company’s performance are explained as follows: 2016 2017 Change MB % MB % MB

products such as welding wire for galvanized steel and galvanized paint. The aim is to build strong growth and sustainable returns by practicing good governance along with developing the society, community

million, increased 10% yoy. The non-social security (non-SW) revenue and social security (SW) revenue grew by 10% and 11% respectively. The growth of non-social security revenue was driven by both OPD (9

Page 1 of 6 Performance Overview In 2017 Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reported a consolidated net profit of Bt572mn, representing a growth of 236% YoY with

December compared to last year and we see this continuing into the first quarter of 2018. The year as a whole was focused on increasing topline growth which has been achieved with a 115mTHB or +14% increase

should continue to be accommodative so that the economic growth could continue and translate into the strengthening of domestic demand. Notwithstanding this, there are pockets of risks, such as debt

create business growth and sustainable value.While the corporate governance practices adopted by Thai listed companies have undergone continuous developments with the focus on building investor confidence

level of household debt while inflation remains at a low level. Other key risks that need to be monitored are the slowdown in global economy especially the Chinese economy, lower than expected growth in

& Calpis grew 2.7% YoY. Total Personal care continued its momentum with 11.5% growth YoY, with 42.8% growth in CLM markets. International business grew 1.5% at constant FX rate, driven by Myanmar growth