and the Company’s shareholders as follows. (1) Expand opportunity to enter into skincare, cosmeceuticals or cosmetics and medical business, which has positive growth trend and being one of government

shareholders as follows. (1) Expand opportunity to enter into skincare, cosmeceuticals or cosmetics and medical business, which has positive growth trend and being one of government Ref. WINNER 0009/20108 Page 9

close 2016 result from the company have entered into the Intellectual Property & Technology License Agreement with one related company, in order to enhance the capability to develop new products to catch

V3 22/02/62 14:27 น. 0 V3 22/02/62 14:27 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2018 In 2018 the Thai economy grew by 4.1 percent, up

core company distributing mobile phone and its accessories was affected by competition from competitors in the industry. The sales in previous year were equivalent to 9,202 million baht. The number of

were 2.4% (y-o-y) and 1.7%(y-o-y) respectively with consequences to the growth of tourism industry of Thailand. During the passengers who travel through BKK and DMK were 79.3 million passengers

providers, including import and export by both sea freight (Full and Less Container Loading) and by air freight, and domestic transportation SEL. SEL is one of the leader in air freight business in Singapore

increase of interest cost from SOE construction loans, whereas in the previous year the Company had the prepayment fee from re-financing which recognized as a one-off expense of Baht 212 Million but there

as cost of construction in the year 2016 according to accounting standard. Also, in the year 2016 the Company had the prepayment fee from re-financing which recognized as a one-off expense of Baht 212

-o-y) and 2.0%(y-o-y) respectively with consequences to the growth of tourism industry of Thailand. During the passengers who travel through BKK and DMK were 53.5 million passengers, increasing by 1.5