, the value of merchandise exports expanded at a slower rate as the result of the economic slowdown in major trading partners, and the effect of protectionist trade policies between the US and China. The

but slower than the previous quarter because of the deceleration of exporting sector and the world economy. Merchandise exports were projected to recover more slowly than expected due to the slowdown in

2018. This was a result of a decline in merchandise exports owing to the economic slowdown of trading partners affected by trade protectionism and the impact of structural changes in the manufacturing

investment particular in machinery and equipment, industrial production, manufacturing capacity, and the value of merchandise exports were also better. Rising government expenditure is another significant

merchandise categories and markets in line with a slowdown in trading partner demand. In the tourism sector, the number of tourist arrivals for the first eight months of this year contracted by 75.2% YoY. The

sectors. Tourism was heavily affected by airspace and border closures, while merchandise exports fell sharply as demand from major trading partners fell, impacting both manufacturing production and domestic

sharing from four associates companies are as follows: First quarter (Unit: Million Baht) 2018 2017 Change Change (%) Home Product Center Plc. 248 208 40 19 LH Financial Group Plc.* 106 125 (19) (15

to increase sales by adding more distribution channels such as online, TV Home Shopping, participation in Trade Fair, B2B sales, etc. In the first quarter of 2018, other income increased by 23.5% YoY

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4 associate companies are as follows: (Unit: Million Baht) 2019 2018 Change Change (%) Home Product Center Plc. 1,232 1,115 117 10 LH Financial Group Plc. 442 427 15 4 Quality Houses Leasehold