result of the continuing decline in global demand from the slow economic growth of trading partners, the protectionist trade policies between the US and China, the down-cycle of electronic products and

growth to develop new growth engines for IVL  Recycling leadership as the #1 player in recycled PET and the orchestrator of the PET circular economy  Leadership development with a bench of leaders and

loans and SMEs loans, details are as follows: Real estate development loans (RE) totaled Baht 34,492 million, growth of 9.2% from the end of 2019. SMEs loans were Baht 28,977 million, declined slightly by

Lending includes real estate development loans and SMEs loans, details are as follows: Real estate development loans (RE) totaled Baht 34,492 million, growth of 9.2% from the end of 2019. SMEs loans were

considered and based on the investment offer of Hero Experience under which the equity required for the development of the Project equals the value of the shares to be issued to the Company. Based on

tourists, which has increased up to 45 percent or 10 million in the past 5 years and is still growing. The Company aims the rapid growth so that it is interested to invest in the tourist business which is

V3 12/05/63 0 V3 12/05/63 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in the First Quarter of 2020 The Thai economy in the first quarter of 2020

engaged in import and export of equipment used for Electrical Power Systems including research and development to futher expand the investment in electrical engineering, electronic products and electrical

inflation in line with the world oil price (Source: The Bank of Thailand). The overall global aviation industry in the first 9 months of 2019, a growth in passenger traffic globally was supported by 4.5

Bank of Thailand). The overall global aviation industry in the first half of 2019, a growth in passenger traffic was supported by 4.7 percent increase in revenue passenger kilometers (RPK) where Europe