According to the Bank of Thailand and Office of the National Economic and Social Development Board data, the Thai economy in the second quarter of 2018 expanded by 4.6%, decreased from 4.8% in the previous

LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q3/2018 2 2. ECONOMIC SITUATION Thai economy in Q3/2018 continuously grew. Export-oriented manufacturing businesses expanded for specific sector, automobile

million and Baht 51 million, respectively. The Group’s policy on allowance for doubtful accounts is based on past collection history, aging profile of outstanding debts and the prevailing economic condition

follows. Overview According to the Bank of Thailand and Office of the National Economic and Social Development Board data, the Thai economy in the third quarter of 2018 expanded by 3.3%, decreased from 4.6

worldwide and has affected the world economic conditions, and Thai economy has been affected since the middle of the first quarter, especially in the tourism and export sectors. Combining with the government

bags from the economic regression plus Thai baht appreciation results in less ordered from our main customer in tapioca flour production (export) , in additional , Gravure woven bags customer in rice

shrinking of the export sector due to lower demand from overseas trading partners. In addition, this has negatively impacted local economic activity, particularly consumption and investment in the private

travel restrictions which affect the number of both Thai and foreign tourists. At the same time private consumption is in a declining trend due to the freeze in economic activity, while the purchasing

to franchisees and (4) increased sales of retail merchandise. However, in the nine months ending 30 September 2018 and 2019, the economic situation and consumer confidence continuously worsened which

result, Private investment has declined dramatically while the Tourism sector has not yet recovered. The overall economic support comes from the government spending. Both fixed expenses and capital