period last year, especially in the tourism sector. However, exports and private investment – two major economic drivers – continued to slow in line with the sluggish global economy and trade volume amid

and business opportunities in each individual sector and area across all industries. In parallel, we focused on the development of technological solutions with the aim of becoming “Customers’ Life

traction, buoyed by both domestic and international factors. However, the business sector faced rising challenges, namely various forms of competition, a borderless marketplace within the ASEAN Economic

The opinions of the Independent Financial Advisor on the connected transaction (For the purpose of translation only) 0 The opinions of the Independent Financial Advisor on the connected transaction by Thai Wacoal Public Company Limited Presented to Shareholders of Thai Wacoal Public Company Limited Prepared by 8 March 2019 This English report of the Independent Financial Advisor’s Opinions has been prepared solely for the convenience of foreign shareholders of Thai Wacoal Public Company Limited...

strong across-the-board growth. The business sector remained challenged by new modes of competition amid the advancing digital age and the rapid pace of technological advancement, together with the

decreased Baht (0.36) million due to most of the customers in the government sector changing their bidding process to be e-bidding. Administrative expenses increased Baht 5.46 million; were mainly derived

economy dramatically declined in 2017. Trang’s economy depends heavily on agriculture sector. Prices of both the rubber and oil palm suffer in year 2017, and also the harvested volume was declined

been converted into THB at an exchange rate of THB1:IDR462 and USD at an exchange rate of USD1:IDR13,999 as of 11 December 2019 3 GDP data as of 2018 based on Euromonitor report 4 Sector loan CAGR of 15

% !!#: 'R" Rกก" ก"%Rก# #"J" ̂ก#"J"" ("!Xกก 10% NAV " ก 2 /6=กก ก0=ก5? 9 5/9ก 5/9ก 9 S (High Sector Concentration Risk) ก" ก"%Rก# ! (#J!ก"" 5H /1 ≤ 20% 20% - 50% 50% - 80% > 80% !!#: ก " ก" ก"%Rก# ! (#J!ก

tons, dropped by 11,000 tons or 3% from the previous quarter due to the spread of COVID-19 outbreak, resulted in the lessen transport in logistic and private sector as well as temporarily shut down or