expansion for growth in Southeast Asia. We successfully converted static billboards into digital billboards, which now cover 32 provinces in Thailand. This effort is expected to enhance our returns, generate

create the IRR of at least 10% 2.2) Provincial Waterworks Expansion Construction PWA*: Counterparty PWA Operating Company New Joint Venture (Hydro holds 50%) Project Type Waterworks Project Expansion

% from Baht 52,526 million in 2016 to Baht 50,114 million in 2017. The SET index at the end of 2017 closed at 1,753.71 points, increasing by 13.7% from 1,542.94 points at the end of 2016. Overall Business

decreased 4.6% from Baht 52,526 million in 2016 to Baht 50,114 million in 2017. The SET index at the end of 2017 closed at 1,753.71 points, increasing by 13.7% from 1,542.94 points at the end of 2016. Overall

economy continues its growth momentum following the GDP expansion by 4.8% in 1Q18. The growth is attributed to a number of factors, namely 1.) exports growth in-line with the improving sentiment of the

held on 4 January 2018 27 April 2018: Exploring further expansion opportunities. Vienna International Hotelmanagement AG (VI) signed a non-binding letter of intent (LOI) with Nakheel PJSC, the largest

water sales volume. However, the costs of sales and services were totally 2,706.44 million Baht, increased by 481.81 million Baht or 21.66% mainly because of an increasing electricity cost. Net profit

shares of Co-Mass Company Limited (“COMASS”) with total investment of THB 160mn, thereby increasing MACO’s stake in COMASS to 100.0%. As a result, MACO fully controls COMASS, allowing us to utilise

Baht or 0.10% compared to the first half of 2018. The reasons were from the increasing in tap water sales volume which net off with the depreciation and amortization from capacity expansion investment as

continued to grow and signaled future investment. Tourism–related businesses expanded thanks to a growing number of Chinese tourists. On the other hand, expansion of real estate and construction businesses