conversion of all CDs offered, either fixed or expected number of shares calculated from conversion prices; 2) assumption on future share prices together with opinion of board of directors and FA if the

consecutive business days prior to the date of the Board of Directors’ meeting (the “Base Price”) whereas the subscription of the newly issued ordinary shares of the Company by the Sellers are subject to the

support from the new Shareholder, we are positive to be more competitive in term of cost resulting the positive bottom line is achievable. Refer to the HRC price in Q3/17, we have seen the improvement of

profitability. The Company has added new growth engines through both organic and inorganic expansion which enable MACO to achieve an outstanding top and bottom line performance compared to the same period last

streamlining the offers of prepaid packages. Broadband and Enterprise business remains a strong growth engine Broadband revenue maintained its growth momentum with an increased subscriber base amid a price

enhancements benefitting both the top and bottom line as we expect 2020 to be a more successful year” 2. Outlook Economic growth was approximately 1.6% in Q4 2019 compared to the same period last year with

commercialise aforementioned assets in 3Q 2019. Hence, as the depreciation expense has already been recorded before the recognition of revenue, this will partially impact our bottom-line this year. Another

โดยพจิำรณำจำกพืน้ฐำนบริษัท ไป อุตสำหกรรม และภำพรวมเศรษฐกิจ (bottom-up) - กระบวนกำรลงทุนในหลกัทรัพย ์ผำ่นกำรวิเครำะห์ข้อมูลจำกทีมวิจัย (global research team) - เลอืกลงทุนในหลกัทรัพยข์องบริษัทที่ให้ปันผลอ

Company expects to receive new fresh funds as CAPEX and Working Capital. With the support from the new Shareholder, we are positive to be more competitive in term of cost resulting the positive bottom line

, and LAWI, waste management agreement with the municipality, power purchase agreement with the Provincial Electricity Authority. Besides, based on CWT?s assumption, IFA also found that if investment in