from the decline in construction material sales in line with the slowed down in the real estate sector. Additionally, investment in machinery and equipment also contracted as exhibited by the decline in

lockdown in Thailand was lifted and business activities resumed in this quarter. However, economic recovery remained vulnerable as service sector continued to be impacted by the absence of foreign tourists

traction, buoyed by both domestic and international factors. However, the business sector faced rising challenges, namely various forms of competition, a borderless marketplace within the ASEAN Economic

and environment – under good corporate governance, appropriate risk management and effective cost management. Prioritizing the development of technological solutions with the aim of becoming “Customers

Management 17  Digital Risk Management 18  Strategic Risk Management 19 3. Business Directions and Operations of Core Businesses 20 3.1 Sustainable Development and Corporate Governance 20 3.2 Business

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 2019 expanded by 2.4%, slightly increased

to long-term shareholder value generation laying the foundations of future improved results via new product development (introduction of dolomitic product line) and cost saving measures (Solar project

export sector. In addition, the household consumption expanded by 3.1%, compared with 2.2% in the previous year, which was supported by the government stimulus measures at the end of 2016. The Thai economy

the global market. Meanwhile, the demand for stainless steel started to increase as the country's economy began to grow steadily as the result of the export sector, private consumption, tourism sector

remains sluggish, resulting in the contraction of advertising expenditures by 11.4% YoY to 26,351mn in the third quarter of 2017. Overall advertising spending was weighed down by TV sector (Analogue TV