Exchange of Thailand Central Retail Corporation Public Company Limited (“the Company” or “CRC”) would like to provide Management Discussion and Analysis for the year ended December 31, 2018 as follows

economic, environmental, and social dimensions a concrete principle of business operations will help us to provide the maximum possible benefit to all stakeholders, making KBank a Bank of Sustainability for

Exchange of Thailand We, Bangkok Commercial Asset Management Public Company Limited, are pleased to provide your management Discussion and analysis for the years ended December 31, 2016, 2017 and 2018 based

position of the project as “The World’s Must Visit Destination in Thailand” to provide meaningful and enjoyable experiences about the infamous Thai myths and folklores, portrayed in contemporary

% Core EPS after PERP Interest (THB) 0.85 0.67 1.31 (35)% 3.67 3.86 (5)% Core EBITDA/ton ($) 115 102 153 (25)% 119 132 (10)% Operating Cash Flow5 385 261 222 73% 1,172 855 37% Net Debt to Equity (times

Capital Adequacy Ratio (CAR) and Common Equity Tier 1 ratio (CET1) stood at 19.6 percent and 16.0 percent, respectively. The evolving business environment in 2019 required commercial banks in Thailand to

our undertakings so as to provide the maximum possible benefit to all stakeholders. Meanwhile, KBank emphasizes the maintenance and development of corporate governance on a continuous and sustainable

competitors), hospitals are also developing as dermatology and plastic surgery center to provide specialized services by the dermatologists and / or anti-aging which results in some of franchise branches and

dermatology and plastic surgery center to provide specialized services by the dermatologists and / or anti-aging, resulting in some of franchise branches and WCIG branches have been closed. According to loss

Part 1 Business Operation and Operating Results 1. Organizational structure and operation of the group of companies 1.1 Policy and business overview Provide an overview on the background and nature of