increased degree of uncertainty in global economies and trade policies, businesses may have to contend with Thai Baht volatility and rising interest rate trends. Acting upon our strategy of strengthening

Refinery Margin at the low level, following the global oil demand declining. This quarter recorded Operating GRM of 3.93 $/BBL, which improved from the previous quarter. Due to the loss of oil demand during

than in 2017 which mainly supported by acceleration of global economy growth. Moreover, expansion in private consumption, export growth, and private investment from last year was due to higher consumer

receiving replacement therapy with dialysis by dialysis machinery (Dialysis Center) and distribution of medical tools and equipment. . Overview of operating results in the Quarter /. Overall global economy

%, compared to a growth of 1.5% in the previous quarter, according to data from Bank of Thailand and NESDB. This was mainly from contraction of export sector due to sluggish demand in the global market, oil

from the rising in global steel price which was the raw materials of the Company’s products. However, the Company has procedures in managing cost by efficiently planning flat production, continue

2018 primarily due to the US-China trade war and global uncertainty contributed negative impact on export growth. The growth of credit card business in Thailand continue expansion due to overall economic

esthetics. 2. Overview of operating results in the Quarter 1’2019. From 2018 to the first quarter of 2019, the global economy still has risk factors from international political and economic tensions

from contraction of export sector as global consumer demand weakened. The tourism sector and private consumption grew at a slower pace. On the other hand, the personal loan of commercial banks and

private consumption and total investment were constantly expanding. However, Thai economy still faces external risk such as U.S. monetary and trade policy and global economic uncertainty. As of August 31