1 2017 MD&A Advanced Info Service Plc. Executive Summary In 2017, mobile business improved from stronger 4G positioning amidst competitive environment. Competitive landscape remained challenging in

purchasing, including installing and examining a thermal and/or chilled water power plant from renewable or alternative energy resources. 71. Conducting a business in providing a technical or academic service

chilled water power plant from renewable or alternative energy resources. 12 เลขท่ี 1 อาคาร ทีพี แอนด์ ที ชัน้ 14 ซอยวิภาวดีรังสติ 19 14th Floor, TP&T Tower 1 Soi Vibhavadee-Rangsit 19 Tel : (662) 936-1661

installing and examining a thermal and/or chilled water power plant from renewable or alternative energy resources. 12 เลขท่ี 1 อาคาร ทีพี แอนด์ ที ชัน้ 14 ซอยวิภาวดีรังสติ 19 14th Floor, TP&T Tower 1 Soi

financial institutions, and property, plant and equipment. As of December 31, 2017 and March 31, 2018, the Company saw cash and cash equivalents to Baht 168.54 million and Baht 178.83 million, respectively

132.95 10% 104.83 8% Investment in associated company 454.39 33% 483.96 36% Property, plant and equipment 564.29 42% 558.59 42% Biological assets – dairy cow 44.44 3% 44.28 3% Others 40.42 3% 61.09 4

1,816.96 million, respectively. Major assets were cash and cash equivalents, and property, plant and equipment. As of December 31, 2017 and December 31, 2018, the cash and cash equivalents amounting to Baht

Baht 9.1 million. - 2 - 5. Maintenance supplies increased Baht 81.3 million. 6. Property, Plant and equipment increased Baht 1,524.8 million. 7. Deferred tax assets increased Baht 1.0 million. Total

associate decrease by Baht (4.17) million Investment properties increase by Baht 98.21 million Property, plant and equipment increase by Baht 552.07 million Liabilities Bank overdrafts and short-term loans

decreased Baht 20.3 million. 6. Property, Plant and equipment increased Baht 584.1 million. 7. Intangible assets increased Baht 1.0 million. 8. Deferred tax assets increased Baht 16.7 million. Total