customers as well as mobile distribution through company’s synergy. This is the strength and Ecosystem different from other companies. The financial statements and operating performance of the Company and its

end of year 2016 at 13.46 MB, paid the deposits to franchise and asset purchase agreement amount Baht 116.82 million, and prepayment to contractors for building and warehouse construction at 0.34 MB and

. Significant changes included a cash and cash equivalents was decrease Baht 137.87 million, due to payment to contractor and other expense for the new office and warehouse of Baht 34.75 million, Purchase a fixed

million was decrease, due to payment to contractor and other expense for the new office and warehouse of Baht 34.75 million, Bonus payment to employees and management Baht 11.59 million, the acquisition in

. 57894 and 61177, Tambon Mueang Kao, Amphoe Mueang Khon Kaen, Khon Kaen, with the total land area of 309 square wah, together with a buildings comprising an office building with 2 floors and a warehouse

136.58 million was decrease, due to payment to contractor and other expense for the new office and warehouse of Baht 34.75 million, Bonus payment to employees and management Baht 11.59 million, the

slightly increased Baht 4 million by an increase of Baht 1 million from employee expenses while warehouse and related services increased at Baht 1 million to facilitate future inventory volume and an

Instrument Baa1 Baa1 Baa1 Subordinated Debt Instrument Baa3 Baa3 Baa3 Financial Strength (BCA) baa2 baa2 baa2 Outlook Stable Stable Stable Standard & Poor’s Long-term Counterparty Credit Rating BBB+ BBB+ BBB

V3 27/02/63 0 V3 27/02/63 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2019 In 2019, the Thai economy grew by 2.4 percent year-on-year, down from 4.2 percent in 2018. Against the backdrop of a global trade slowdown and US-China trade uncertainty, merchandise exports and imports for the year contracted by 2.7 and 4.7 percent from 2018, respectively. Private investment slowed to 2.8 percent from 4.1 percent in 2018 while manufacturing production...

Subordinated Debt Instrument Baa2 Baa2 Baa2 Baa3 Subordinated Debt (Basel III-compliant Tier 2 securities) Baa3 Baa3 Baa3 - Financial Strength (BCA) baa1 baa1 baa1 baa2 Outlook Stable Positive Positive Stable S