Statement Cash Flows Statement Accounting Financial Ratios Business Performance Executive Summary Statement of Income 19 of Financial Position Environment Management 3 3 | Management Discussion and Analysis

current market environment market environment. While digital asset businesses are innovative and constantly related to technological advancement and financial innovation, SEC continues to promote the

Verified tools. The business sector is encouraged to apply these tools to enhance their protection mechanisms, thereby promoting a safer online environment. Prof. Pornanong Budsaratragoon, Ph.D., SEC

As a result of the current situation, business operators have to self-adjust in response to technological disruption, the changing environment, and investors’ changing behaviors in order to

sectors, as well as the financial institutions*. With the opening speeches delivered by Mr. Thalearngsak Petchsuwan, Deputy Permanent Secretary, Ministry of Natural Resources and Environment, Mr. Ronadol

sustainably in harmony with the environment in every dimension. SEC Secretary-General Rapee Sucharitakul said “SEC is committed to strengthening the capital market for growth and sustainable development by

destination. This initiative representsanother significant achievement on the part of the ACMF in promoting a facilitativeand efficient environment for greater intra-ASEAN activity.?Dr. Vorapol Socatiyanurak

considering the balance of three dimensions – economy, society and environment – under good corporate governance, appropriate risk management and effective cost management. Along with this, we have prioritized

several measures across our business units to minimize the impact on our profitability and maintain financial flexibility. Current business environment 1. Thailand: We temporarily closed our fashion and

due largely to major public and private projects delays to Q2/2019 and Q3/2019; - Wholesales/Retails down 6% Y-O-Y mainly from a highly competitive environment and weak consumer spending; - Whilst