investments of THB 1,379mn (treasury operations) Predominantly for other reasons: (ix) an increase in trade and other receivables of THB 170mn, chiefly from a Thai hotel and the EBT of UE, being partially

receivables from related party decreased in the amount of Baht 3,554.68 million. 3.1.6 Trade accounts receivable from related parties of Ratchaburi Electricity Generating Company Limited, a subsidiary

31-Dec-19 vs 31-Dec-18 Assets Cash and current investments 10,454 5,713 83% Trade accounts receivable 34,305 37,637 (9)% Inventories 62,165 70,085 (11)% Other current assets 11,833 10,850 9% Total

from the slow economic growth of trading partners, the protectionist trade policies between the US and China, the down-cycle of electronic products and also from the decline in global oil prices together

g e | 10 2020 Outlook 2020 definitely a very challenge year for our company and in tourism business which is on the verge of the world’s economic slowdown, the destabilization of international trade

for our company and in tourism business which is on the verge of the world’s economic slowdown, the destabilization of international trade underpinned by US trade policies, as well as the continued

% 30,557 8.2% Interest-bearing debt to equity (times) 1.8 1.4 1.5 ST investment 1,989 0.7% 1,845 0.5% Net debt to equity (times) 1.4 1.0 1.0 Trade receivable 16,277 5.6% 16,310 4.4% Net debt to EBITDA (times

9,067 3.1% 11,281 4.0% Interest-bearing debt to equity (times) 2.2 1.5 1.6 ST investment 2,221 0.8% 1,938 0.7% Net debt to equity (times) 2.0 1.3 1.4 Trade receivable 16,361 5.6% 17,198 6.1% Net debt to

last year as a result of declining global demand from the slow economic growth of trading partners, the protectionist trade policies between the US and China and the down-cycle of electronic products. In

expanded at a slower pace compared to the previous quarter, with merchandise exports contracting as global trade weakened, resulting in a decline in domestic industrial production. Meanwhile, tourism