December 2019 To: Managing Director of the Stock Exchange of Thailand Business Overview In 2019, the impact of trade war between the United States and China, together with the global economic slowdown caused

plunged the global economy into a deep recession. The ASEAN economy, our main market, has been affected more severely due to the prolonged crisis after new waves in Malaysia and the extension of the large

the price of main raw material which increased in accordance to the global market price. As a result, Thailand has the volume of exports of palm oil more than the same period of the last year. Although

, keeping fix costs and capex under strict control. The steel markets performed reasonably well, and our new product has gained traction in the steel market as our customers see the value in use of the

the low-income citizens to stimulate near-term consumption. Meanwhile, internal and external factors that affect the Thai economy are the slowing global economy growth, the inconclusive trade war

plans were delayed from the original plan, most of which should have been launched since at the end of Q2/2018. Figure 2: MAT Jun 2018 RTD Fruit Juice Market Value breakdown by Market Segment Premium

capital market as well as the decline in the price of the global oil market and the recession in the United States, the overall Thai economy was affected. Agricultural prices dropped sharply; causing

. Meanwhile, internal and external factors that affect the Thai economy are the slowing global economy growth due to the inconclusive trade war between the US and China. Having considered the above-mentioned

with multi-band and multi-technology will be serving increasing data demand in short-term and also capturing high value market on 5G service. We expect to continue generating positive cash flow after

according to the raw material price in the global market, together with the higher competition between the operators. 4 (Unit: Baht million) Consolidated balance sheets As at 30th Jun 2019 As at 31st Mar 2019