of net proceed from base offering in July and over-allotment proceed in August. This proceed would allow us to enhance our capital structure reflecting in net-interest- bearing debt to equity ratio as

which the Bank of Thailand projected to record growth of 3.5 percent in 2017, and 3.7 percent in 2018 (as of June 2017). However, the economic growth in the period ahead still challenge with uncertainties

mentions, the Thai economy was expected to improve further which the Bank of Thailand projected to record growth of 3.5 percent in 2017, and 3.7 percent in 2018 (as of June 2017). However, the economic

line with an economic ownership of BGRIM in the projects. FINANCIAL PERFORMANCE 9 Q1’2017 Q1’2018 % change Q4’2017 Q1’2018 % change million Baht million Baht y-on-y million Baht million Baht q-on-q Net

10.5 million for the year 2018, an increase of 7.4% from last year. Overall, the Thai economy for the year 2018 expanded by 4.1%. The Thai economic growth for 2019 is expected to decelerate, with the

same period last year as a result of the continuing decline in global demand from the slow economic growth of trading partners, the protectionist trade policies between the US and China and the down

Cycle (Days) 36 43 Total Debt to Equity Ratio (Times) 0.45 0.51 Interest Coverage Ratio (Times) 136.93 72.99 Debt Service Coverage Ratio (Times) 80.13 56.23 - 9 - (3) Asset Management Capability (3.1

result of the continuing decline in global demand from the slow economic growth of trading partners, the protectionist trade policies between the US and China and the down-cycle of electronic products. In

of Chinese tourist arrivals totaled 9.7 million, still exhibiting a growth of 7.9% from last year. The Thai economic growth for 2019 is expected to decelerate, with the main drivers namely export and

) 37 42 Inventory Turnover Period (Days) 17 19 Average Payable Period (Days) 17 18 Cash Cycle (Days) 37 43 Total Debt to Equity Ratio (Times) 0.51 0.51 Interest Coverage Ratio (Times) 130.33 72.99 Debt