interest income amounted to Baht 2,646 million, an increase of Baht 100 million or 3.9% yoy from Baht 2,546 million in 1Q17. Yield on loan for 1Q18 declined from 7.6% to 7.2% yoy due to the high growth of

decline is also partly due to the high base of last year. Public spending excluding transfers also declined from acceleration in disbursement during last year. Nevertheless, private consumption remains the

partly due to the high base of last year. Public spending excluding transfers also declined from acceleration in disbursement during last year. Nevertheless, private consumption remains the key driver with

surged in sectors with high capacity utilization rates, such as the automotive and petrochemical sectors. On the other hand, progress in public infrastructure project construction remained gradual

power, as farm income continued to be constrained by low prices of agricultural products and nonfarm income remained lackluster. Moreover, high levels of household debt caused the generation of new loans

dollar since the beginning of 2017. Furthermore, despite three policy interest rate increases in 2017, to 1.25-1.50 percent, global interest rates remained low, contributing to a “search for yield” and

decreased c.15% YoY, mainly due to the drop in fruit juice sales following the slowdown in fruit juice market, plus high sales base last year resulted from new packaging launched which inventory at trade

% KPPH Low High After-tax cost of debt (rd ) 6.80% 6.80% (corporate bond yield + country specific spread for Philippines) Cost of equity (re ) 17.10% 18.20% (preliminary cost of equity + country risk

receivables and insurance business which yield higher gross profit margin. Administrative Expenses The Company had administrative expenses for the 3rd quarter of 2018 equal to 77.3 million baht, which was

of infrastructure investment such as the Eastern Economic Corridor (EEC), mass transit trains and high-speed railways will bolster business sentiment. Moreover, there are indications that suggest