% down from 1Q2017. The revenue from feed business continued declining due to intense competition of animal feed and aquatic feed in Thailand reflecting falling in revenue from animal feed and fish feed

conditions and increasing competition in the Japanese restaurant industry. Other brands such as AKA and On the Table were meanwhile able to maintain positive SSSG due to the strength of the brands and the

maintained, pricing competition remained challenging with tactical pricing offered to attract new subscriptions. For example, operators offered lower speed than the entry level of 30Mbps at a lower price in

intense competition in Thailand reflecting falling in revenue from fish feed about 27.52% from lower sales volume of fish feed. However, revenue from shrimp feed rose by 18.41% from 2Q2017 mainly from

3Q2017. The revenue from feed business continued declining due to intense competition in Thailand reflecting falling in revenue from fish feed about 18.42% from lower sales volume of fish feed. However

previous year have ended and the competition has intensified in the stainless pipe product. As a result, sales and gross margin declined in the current quarter. While administrative expenses have increased

, rose by 86% compared to 1Q2019, resulting to EBITDA of THB 345 million, improved from prior year by 145% mainly from profitability improvement of methyl ester driven by lessen competition in product

from the rainy season in 3Q but continued to benefit from increasing tourism-related usage and efforts to uplift the ARPU. The competition stabilized since the beginning of the year while operators are

6 December 2007 1 | P a g e Pace Development Corporation Public Company Limited 87/2 CRC Tower All Seasons Place, 45th Floor, Unit 3, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel. 66 2 654

: ANANDA DEVELOPMENT PUBLIC COMPANY LIMITED ANI: Asia Network International Public Company Limited AOT: AIRPORTS OF THAILAND PUBLIC COMPANY LIMITED AP: AP (THAILAND) PUBLIC COMPANY LIMITED APCO: ASIAN