from same-store sales growth and the increase in the number of branches, as well as the decrease in cost per unit from the increase in production volumes resulting in economies of scale. • Gross Profit

cash loss is small measured against the scale of the crisis. KEY BUSINESS AND STRATEGIC UPDATES THE ADJUSTMENT OF MINIMUM GUARANTEE FOR PLANB o On 30 January 2020, MACO had entered into an Advertising

majority and sheer number of parties, governing could prove difficult. A large stimulus package is expected and large-scale projects are likely to go ahead. This should help boost the economy going forward

easier to operate. In addition, the Company had delivered several large-scale projects in this quarter, such as the GDCC Service Expansion (VM) Trading Project of National Telecommunications PCL, the

large-scale projects: the project of procurement and installation of computer network systems for information of Chulalongkorn Hospital, Thai Red Cross Society, the project of development of the system

% 6% 3,112 69% 4% 3,115 62% 2% Commercial Property Business Performance of commercial property business constitutes those of a 3,000-sqm NLA retail space ‘The Lighthouse’, a large-scale office complex

. Increasing household debts and loan rejection rate of financial institutions are the major obstacles. In the past, the strategy of the Company emphasizes the development of large-scale projects focusing mainly

institutions has become very strict and loan rejection rate has been rising. In addition, the projects developed by the Company are large-scale, resulting in an increase inventory. The Company, therefore

revenue as we have recognized revenue of a big scale implementation job in Malaysia last year. With the acquisition of TigerSoft, the Company is able to expand its business to hardware, such as clock

challenging in 1Q19. In strategic areas, aggressive price plans and handset campaigns were launched, especially in prepaid, in which AIS was competitive to preserve scale. As a result, mobile revenue grew 1.1