loans (RE) totaled Baht 31,240 million, with continuing expansion of 7.5% from the end of 2018. SMEs loans were Baht 26,876 million, slight growth of 0.4%. SMEs loan comprises of several business sectors

expanded more than year 2016. In addition, the expansion of automotive industry and tourism sector were said to be another two significant factors that stimulated Thai economic growth for this quarter. The

signs of recovery especially in 4Q17 as evident by the more broad-based recovery from the external sectors to the domestic sectors. With exports registering a growth of 10.0% for the first 11 months of

(5.5% of revenue from 10.5% in 2016). Network OPEX was flat QoQ but increased 99% YoY mainly from 4G expansion and addition of TOT partnership payment. EBITDA margin improved to 44.6% from 36.4% in 4Q16

%, consistent with robust global economic expansion and strong growth momentum from last year. A robust global economy will support Thai merchandise exports to grow by 4 .8% annually together with the tourism

Investment in Siam Gateway Co., Ltd. 24.50 1.88% calculated based on the total value of consideration basis 16 July 2019 Joint investment in food business expansion with Shanghai Kinghill Company Limited 5.03

through franchise models • Focus on regional branch expansion throughout major cities in order to create opportunities to capture more customers • Target to expand to total of 100 branches by the end of

tourism as a result of travel bans together with weak domestic consumption that has started since the last quarter of 2019 has led After You to slowdown major branch expansion and concentrate more on

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due