Q1-2017 (THB 18,695/ton) due to the decrease in HRC market price worldwide and a stagnant of Thai economy in the first half of 2017 causes a lower demand of steel consumption. Management’s Discussion

renovation of three hotels under Dusit Thani brand, and caused by a temporarily weaker demand from catering and convention during the mourning period and the royal funeral of King Bhumibol Adulyadej. Earnings

a rebound in demand of enterprise customers from a clearer political situation and a sizable project closed in the quarter. The strategy for the enterprise segment continues focusing on high-margin

: _________________________________________________________ 4) Legal form of NRI CIS: legal entity1 unit trust any other structure acceptable to participating jurisdictions 5) Is the NRI CIS a sub-fund of an umbrella fund? Yes No If “Yes”, please state the

and lorry tanks, chemical tanks, machinery parts, steel structure). With its growing demand for LPG and the up and coming expansion of LPG storage and receiving terminals, it is expected that the LPG

farmers to tax relief. The main lime consuming sectors of the industry had limited impact from Covid-19 in Q1 by the macro economy. However, the forecasts are for a drop in demand in the coming quarters as

clients and orders due to higher demand for cars and new businesses from closure of financially challenged competitors due to Covid-19. 2) Dealership business; Stronger sales of both dealerships in Thailand

and orders increase due to higher demand for cars. Thailand and China operations were strong, grew 29.2% and 48.1% year-on-year respectively and outperformed the industry. 2) Car Dealerships and

considering the appropriateness of investment, the objective of investment, the financial position or the demand of any specific person. “investment planner” means a person providing investment consultation to

demand. We determine appropriate strategies to maintain a suitable level of foreign currency liquid assets, consistent with growth in foreign-currency deposits, and to guard against any heightened