commercial and passenger cars. Export-related manufacturing production, especially automotive, has continued to improve. The consensus view for 4% GDP growth in 2018 maybe revised upwards given the strong end

is likely leaving its mark on the Thai economy. Private consumption growth moderated noticeably in Q1 while private investment fell, reflecting dampening domestic demand. Manufacturing output

expanded in all categories. The expansion in global and domestic demand reflect to the growth of manufacturing sector. In term of public spending and private investment which strongly growth in all sector

LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q3/2018 2 2. ECONOMIC SITUATION Thai economy in Q3/2018 continuously grew. Export-oriented manufacturing businesses expanded for specific sector, automobile

188 61% 1,037 853 21% Net Operating Debt to Equity (times) 0.53 0.45 0.57 (7)% 0.53 0.57 (7)% 1Consolidated financials are based upon elimination of intra-company (or intra-business segment

 interest bearing debt.  Cash reserves and financial investments at the 30th June 2017 were THB 10.0 billion up from 30th June, 2016 were THB 9.5 billion.  Asset Quality Accounts Receivable Most of customers

 applicable to each offshore subsidiary's base currency.  Payout Analysis No dividends were paid out during the quarter. Financial Status The group currently has no interest bearing debt.  Cash reserves and

. Financial Status The group currently has no interest bearing debt. Cash reserves and financial investments at the 31st March 2019 were THB 8.5 billion down from 31st March 2018 were THB 9.8 billion. Asset

. Interest bearing debt is THB 570m in Q219. Asset Quality Accounts Receivable Most of customers are well known and have good reputation in the IC, and electronics industry.    Provision is made of amounts

 to each offshore subsidiary's base currency.  Payout Analysis No dividends were paid in Q118 or Q117. Financial Status The group currently has no interest bearing debt.  Cash reserves and financial