growth. In 2019, the real estate sector was beginning to face a slowdown as a result of various negative factors, particularly the Bank of Thailand’s Loan to Value (LTV) measure. The situation is worrisome

offering convertible bonds (US$ currency, SGX listed, 2% p.a. coupon) worth US$180mn to institutional investors. Management Discussion and Analysis FY2017 Consolidated Financial Results Page 2 of 6 • In

ต่อไปได้ ลดผลกระทบต่อการจ้างงานและเศรษฐกิจ นอกจากนี้ ยังเป็นทางเลือกให้ผู้ลงทุนรายใหญ่ (High Net Worth : “HNW”) เปลี่ยนพฤติกรรมจากการลงทุนโดยตรงใน high yield bond มาลงทุนผ่านกองทุนที่มีผู้

Placement to institutional investors and high net-worth investors at the amount of 3,000 million baht comprise; (1) Tranche 1: Debenture term is 3 years and fixed interest rate at 2.37% per annum (2) Tranche

rate  Classification and measurements of financial instruments into following categories: Amortised cost, fair value through other comprehensive income (FVOCI) and fair value through profit and loss

with the temporary maintenance closure of some oil refineries in the last quarter of the year. Nevertheless, the current account remained in surplus with the value of imports contracted at a greater rate

and capital expenditures partly due to the delay of FY2020 budget. Exports for the first 2 months of 2020 contracted at 0.8% compared to the same period last year. When excluding exports of gold, value

slightly declined from the high base of last year. For export sector, exports value remained stable for Q418 from the same period last year due to the high base effect of last year and also from the trade

expenditures of state enterprises. Exports during the first 8 months of 2019 contracted 2.2% from the same period last year with contractions across all categories. Excluding exports of gold, value of exports

enterprises. Exports during the first 9 months of 2019 contracted 2.1% from the same period last year with contractions across all categories. Excluding exports of gold, value of exports contracted 4.0% as a