anticipated to continue in line with GDP growth. Downside risk on volumes in our nonferrous mining segment remains as new competitive capacity is expected to come online in the near future. Pricing impact on

the Company’s prosperity in the near future.

supply significant portion of our internal electricity use decreasing further operational expenses. 2. Outlook Economic growth accelerated in the third quarter from the near five-year low in the second

 cases,  nd/or  subsidiar e relevant assumptions, wh ified by the use of forward the information currently  ssed or implied by such forw   2Q17 M ced Info Y (maintained % YoY  h near‐zero marg 0% of net

, beverage bottles, PET packaging for food, personal care and home care) in the near term and improve our working capital efficiency. Most of our products are classified as essentials in the current pandemic

indicated more optimism by revising upwards their GDP growth forecast for 2017 to 3.5% from 3.2% that was estimated at end of 2016. IMPORTANT EVENTS IN 1Q 2017/18 June 2017  Master Ad Company Limited (“MACO

with estimated 8-10% growth of core revenue. • Plans to open 11 new hotels: In 1Q19, the Company opened 2 new hotels in the Philippines (Dusit Thani Mactan Cebu and dusitD2 Davao). Later in April, the

estimates by research tends to vary to some degree. The company has therefore decided not to carry out such analysis going forward. Nonetheless, reflecting on its market share, VGI estimated that in 2017 its

was driven by added subscribers of 209,300 or around (estimated) 20% share of industry which totaled year- end subscribers at 730,500. On other digital services, AIS continued to scale up several

combination under common control. Additionally, the Company expanded the number of branches, which led to an increase in furniture and office equipment. Furthermore, the Company revised the estimated useful