” กองทุน exchange traded fund ท่ีจดัตั้งขึ้ นตามกฎหมายต่างประเทศ “กองทุน infra” รูปแบบการลงทุนใน https://market.sec.or.th/public/mrap/MRAPFile.aspx?FILESEQUENCE=1&FUNDNAME=KUSARMF&FUNDCOMPRUNCODE=M... E_1

จดัตั้งขึ้ นตามกฎหมายต่างประเทศ “กองทุน ETF ต่างประเทศ” กองทุน exchange traded fund ท่ีจดัตั้งขึ้ นตามกฎหมายต่างประเทศ “กองทุน infra” รูปแบบการลงทุนใน https://market.sec.or.th/public/mrap/MRAPFile.aspx

companies, 14 percent have women as their top executives (as of December 2020), according to the Securities and Exchange Commission (SEC).  As a growing number of Thai companies are taking leaps toward

environment The Thai economy for the year 2018 expanded as expected according to its potential. For the last quarter of 2018, the economy continued to expand largely from domestic demands contributed both from

global economy. For domestic sector, private consumption and private investment also showed positive signs with private consumption recovering strongly in the durable goods segment (especially in vehicles

economy. For domestic sector, private consumption and private investment also showed positive signs with private consumption recovering strongly in the durable goods segment (especially in vehicles) and

expand largely from domestic demands contributed both from private consumption and private investment. Private consumption grew notably in durable goods segment (especially in vehicles) while growth in non

13_MDA Q1_2563 EN -Translated Version- No. ECF2 018/2020 May 15, 2020 Subject: Management Discussion and Analysis of the 1st quarter ended 31 March, 2020 To President The Stock Exchange of Thailand

Budget Act and drought. Furthermore, domestic spending may be limited due to weakening purchasing power and hefty household debt. Apart from economic woes, businesses face numerous other challenges that

ที่ FPI Ref. FPI.011/2019 14 November 2019 Subject : Management Discussion & Analysis of Performance Results of Quarter 3/2019 To : Board of Directors and President of The Stock Exchange of Thailand