26 July 2018 At: ACC/HO 021/18 Re: Management Discussion and Analysis for the three-month period and six-month ended 30 June 2018 To: President The Stock Exchange of Thailand The Thai economy

order for the Company to grow in a sustainable manner in accordance with sufficiency economy philosophy. Important numbers in the financial statement Q2/2018 and 2017 Table 1: Profit/Loss Statement in Q2

(BOT)1 summarized that the Thai economy continue to expand supported by the increasing farm household income and total nonfarm payroll income. Moreover, Consumer Confidence Index showed an uptrend when

economy of scale in term of declined fixed cost per unit were another factors to gross margin improvement. Administrative Expenses For 2Q’18 and 1H18, administrative expenses increased at the similar rate

to generate additional income. 2018 is the Year of Change as all aspects of the operation are modified in order for the Company to achieve sustainable growth under sufficiency economy principles. The

2.98 Million Baht in net profit or 0.34% of the revenue from sale and service. This is due to: 1. In 2017, statement from SSK contributes to 9.47 Million Baht of deficit due to the domestic economy

benefit from economy of scale in term of declined fixed cost per unit were another factors to gross margin improvement. Administrative Expenses For 3Q’18 and 9M’18, administrative expenses increased 6% and

V2 13/11/61 17:55 น. 0 V2 13/11/61 17:55 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in the Third Quarter of 2018 The Thai economy in the third

. In 3Q18, the Thai economy extends its growth momentum following the GDP expansion by 4.6% in 2Q18. The growth is attributed to a number of factors, namely 1.) strong export growth despite a slight

ที่ประหยดัตอ่ขนาด (Economy of scale) นอกจากนีต้้นทนุการ ผลติในประเทศอินเดียจะต า่กวา่ประเทศไทย ประมาณร้อยละ 20-25 ท าให้บริษัทสามารถขยายและเพิ่มสดัสว่นทาง การตลาดในประเทศอินเดีย พร้อมทัง้เพิม่อตัราก าไร