lockdown measures. In addition, the Company maintains management overlay in the amount of 1,378 million baht for a hedge with probable forward looking macroeconomics factors and the new wave of COVID-19

looking to switch service providers. This has resulted in a decrease in the industry’s ARPU. 1Q22 MD&A Advanced Info Service Plc. 1Q22 Operational summary In 1Q22, total mobile subscribers continued to

Q4–2022 change in line with the increase in revenue when compare to Q3– 2022 and Q4–2021. However, looking at the details of expenses, it found that the cost of sales and services in Q4– 2022, there

opportunity to reach target customers more comprehensively. Focus on Expanding Oversea Branches On January 6, 2024, After You opened its branch at Airside Hong Kong. The Company is still looking for growth

emerging market economies were projected to grow at 2.0 and 4.5 percent in 2019, respectively, down from 2018 projections of 2.3 and 4.6 percent. Looking into 2019, a global economic slowdown may affect the

Asian central banks reduced their policy rates continuously. Looking domestically, Thailand’s economic activity in many sectors declined in line with the overall global economy. The tourism sector in

both CCPH and KPPH as both are in a good financial position with profitable prospects (i.e., vacuums and hair dryers for KPPH and manufacturing of hard disk drives and solid state drives for CCPH). Notes

quarter which recorded a gain on purchase of THB 367 million. As a result, Power Plant Business recorded a lower EBITDA from the previous quarter, but both projects still record profitable performance. 4

foreign firms are looking to relocate production activities to and expand production in Thailand in response to trade conflicts, particularly in sectors such as electronics and automotive parts. It is also

forward- looking statements within the meaning of the federal securities laws, specifically Section 21E of the Securities Exchange Act of 1934, as amended. PSG, the Fund's investment advisor, has