and increased more Company’s cost of capital for value-added to Company and its shareholders. 9. Source of funds The Company will enter into the long-term loan facility agreement with domestic financial

facility agreement with domestic financial institution for the total amount of THB 250 million. The maturity date is 7 years from the date of the signing of the loan facility agreement. The amount to be

the long-term loan facility agreement with domestic financial institution for the total amount of THB 250 million. The maturity date is 7 years from the date of the signing of the loan facility

Chinese. Meanwhile, level of domestic economic activities gradually increased. Consumption and investment of private sector steadily expanded consistent with the improving consumer confidence and business

and total portfolio and a strong growth of both domestic and overseas subsidiaries. In addition, the Company efficiently managed the selling, general and administrative expense and funding cost. 2

providers, including import and export by both sea freight (Full and Less Container Loading) and by air freight, and domestic transportation SEL. SEL is one of the leader in air freight business in Singapore

. The domestic economy recovered at a modest pace. Public spending and private consumption remained to be the main growth drivers. Private investment remained at a similar level compared to the same

ht more tha ories, loans y. and Shareh period end ht more tha es increase hile, Shareh any retain e o was 2.27 ce potential orward to date of th any enters g good and domestic c etail busine which

welfare, Tax deduction for domestic tour package and shopping. As of November 30, 2017, the Company’s total cards reached 8.06 million cards (including 2.48 million credit cards and 5.58 million member

Discussion & Analysis (MD&A) Q4/2017 and FY2017 3 • Q4/2017 and FY2017 market environment Thailand’s Gross Domestic Product (GDP) has grew by 3.9% in 2017 which exceeds the 2016 by 0.7%, after recovering in