2015, whereby Singha Estate invested in Nirvana, a mid-sized housing development company with significant long-term growth potentials. Overcoming challenges, Nirvana underwent a reverse acquisition in

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 12 Executive Summary Growth in both revenue and net profit demonstrates the effectiveness of retail

create business growth and sustainable value.While the corporate governance practices adopted by Thai listed companies have undergone continuous developments with the focus on building investor confidence

region that will be an important driving force in the company’s long-term growth. Moreover, the Company continues to study potential investment opportunities across Southeast Asia. Mixed-use Development

AIS is committed to driving long- term growth while delivering return to shareholders. We place importance in maintaining strong financial health and flexibility to pursue future growth. Our dividend

-balanced revenue stream from domestic and international portfolio, aligning to the Company’s long-term strategic direction. Below highlights the Company’s growth outlook by region: Asia Pacific: - Positive

our plan to ensure 5G-compatible architecture and our focus to carefully balancing investment with return. Dividend policy at minimum 70% of net profit AIS is committed to driving long- term growth

revenue growth of 26% YoY, outpacing the industry growth. This was driven by healthy net subscriber addition of 60,400 in the quarter despite aggressive price competition; and marked a total subscriber of

as an integral element to achieve its long-term growth target and serves the diversification of investment risks by identifying high potential areas in prospective overseas markets. On March 23, 2019

Thailand and NESDB, overall Thai economy in 2018 expanded by 4.1%, higher than 4.0% growth in 2017. This was mainly from acceleration of private consumption and investment, as well as improving domestic