viable locations, especially in provinces outside Bangkok, including the opening of a mini branch in a BaNANAStore – our partner which is a large IT retailer. The number of branches available is now

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 largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through support of investment and private spending as well as bolstering opportunities for other econo...

" 20.2 1 3 20.3 (1) (2) (3) 10 (fluctuation) . . . 15 (4) (5) 3 (credit line) 90 . . . 90 . . . 20.4 FATCA P a g e 56 | ( ) KTFFE86 86 Krung Thai Fixed Income FIF Enhanced86 Not for Retail Investors

payment of 36.17 percent in spite of decrease in EBITDA of 0.83 percent from the end of year 2017. (5) Debt Obligation The Corporate Group has policy to mitigate risk from interest fluctuation by taking

percent. (5) Debt Obligation The Corporate Group has policy to mitigate risk from interest fluctuation by taking long-term loan with fixed interest rate. Accordingly, as at December 31, 2019, the Corporate

than the previous quarter as there was no shutdown activity in this quarter. According to continuity from fluctuation of crude palm oil and crude palm kernel oil prices from quarter 1/2016, the company

currency fluctuation whereas foreign debts were all fully hedged. Profit In 3Q17, EBITDA was Bt17,589mn, increasing 15% YoY and 2.8% QoQ. This was underpinned by a decent growth in revenue with softer

Group has policy to mitigate risk from interest fluctuation by taking long-term loan with fixed interest rate. Accordingly, as at December 31, 2017, the Corporate Group had no long-term debt obligation to

minimize potential impact from exchange rate fluctuation. Source : Bank of Thailand Cost of sales and expenses Cost of sales In 2017, cost of sales accounted for 74.5% of total sales, slightly higher than

represented 63% of total borrowings, decreasing from 75% of fiscal year 2018. To manage risk that might occur from the fluctuation in currency and interest rate of long-term a debenture in foreign currencies