subscriber growth of 10-12%YoY. However, competition was intense throughout the year as operators continued to offer discount and low-price plan causing ARPU to drop to Bt476 from Bt533 in 4Q19. 3 FY20 MD&A

distribution in other potential countries of Africa, Americas, and APAC. For domestic market, substitute products from importers got flooded as strong Thai Baht made overall imports cheaper causing intense price

20.5% of total revenue, respectively. Revenue from E-Commerce decreased by 10.7 million or 80.0% when compared with the same quarter of last year due to the intense competition in the E-Commerce business

(0.3) Total 176.6 173.1 3.5 120.9 104.5 16.2 55.7 68.6 (12.9) Revenue from Commerce decreased by 5. 2 million Baht or 23. 7% when compared with the first six-month of last year due to the intense

demand in the market. Excess production in China caused extra problems as the local production could not be shipped out due to pandemic, resulting into an intense competition and price in China. For

broadband market continued to expand with genuine demand for quality broadband at home but also faced intense competition from low-price packages starting at Bt299 offering throughout the year amid economic

broadband remained intense in 3Q20 due to continued low price packages starting from Bt299 for 100Mbps, which is lower than industry ARPU, in response to the macro low-spending environment. Speed and device

from the re-opened economy amid continued intense competition Mobile revenue reported Bt29,217mn, improving 0.4% YoY and 1.3% QoQ, mainly benefiting from the border reopening and 5G adoption. However

market-focussed verticals and will leverage our scale and management depth to further improve quality of earnings. The Lifestyle vertical serves global home and apparel business outside China from its

91 % when compared with the year 2018 due to the intense competition in the E- Commerce business and the Company sold high volume of mobile phone on a special project in year 2018. 4. Cost of event