E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4 percent compared to 4.2 percent in the previous year.The slowdown could be attributed to exports which contracted further due to the stronger Baht and a global economic slowdown. In addition, the investment environment of both the public and private sector remained weak, and private consumption, albeit gro...

, businesses and payment have shifted into the digital realm. Meanwhile, cyber threats have become more sophisticated, as seen from their application of state- of-the-art technologies. Against this backdrop

endeavor is intended to extend our service capabilities beyond the banking realm. In this quarter, we placed greater importance on system management beyond just financial service provision, especially with

amortization from increasing investments made by the company group, (2) lease payment for oil depot and land for service station expansion, (3) marketing and promotional expenses. 5. Loss from crude and product

., Ltd.’s logistic cost in accordance with increased sales volume, (4) lease payment for oil depot and land for service station expansion, and (5) office expenses. 5. Gains from crude and product oil price

-financial services in order to meet customers’ needs beyond the banking realm in a bid to broaden our customer base in the digital age. Our key operations in three main customer segments in the first quarter