poverty, consumerism, and ignorance. Poverty has long been one of the most important issues policy makers strive to overcome. When there is insufficient wealth to nourish basic needs, indebtedness could

)% 53,878 52,953 1.7% Non-interest income 12,295 13,534 11,321 (9.2)% 8.6% 36,145 39,385 (8.2)% Operating expenses 12,679 14,108 12,878 (10.1)% (1.5)% 38,975 38,832 0.4% Impairment loss of loans and debt

% Impairment loss of loans and debt securities 7,322 4,617 5,806 58.6% 26.1% Operating profit before tax 11,621 11,038 10,328 5.3% 12.5% Income tax expenses 2,522 2,457 1,951 2.6% 29.3% Net profit 9,099 8,581

Company has been awarded ISO 13485, the Quality Management System for Medical Device Industry which is an important tool for competition and maintaining the product’s market share), the Company can maintain

of the Thai baht and the intense competition which caused the exports to shrink from the previous year. Domestic consumption was also affected by high living expenses and household debt, as well as the

Company, therefore, the interesting bearing debt to equity ratio and the debt to equity ratio of shareholders do not exceed 1:1 which is in compliance with the Company’s policy. The financial costs are also

and debt securities 5,549 5,078 6,533 9.3% (15.1)% 10,627 13,854 (23.3)% Operating profit before tax 11,512 11,348 11,331 1.4% 1.6% 22,859 22,953 (0.4)% Income tax expenses 2,065 2,225 2,041 (7.2)% 1.2

investor by way of providing sufficient information for decision making and to reduce risks due to a high number of senior retail investors.Furthermore, the meeting also discussed important issues related

margins in the customer segment. Opportunities to be a part of important projects in Thailand continuously. As a result, the Company's revenue and profit margins grow. ZIGA Innovation Public Company Limited

Analysis (MD&A) Page 2 of 16 Major Events in 2018 The acquisition of GLAND, which has high potential assets, is an important step for CPN to become a leader in mixed-use projects The acquisition of shares in