due to the remaining excess capacity. Average headline inflation in the second quarter of 2017 is at 0.10 percent, slightly lower than a 0.30 percent rate in the same period last year and a 1.25 percent

, remained under pressure from excess production capacity. Headline inflation in the third quarter of 2017 averaged at 0.45 percent, up from 0.26 percent in the same period last year, following higher energy

the Company approved the share repurchase program in the amount not exceeding 40 million common shares in year 2018. The share repurchase is made to maximize the benefits of the Company’s excess

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through support of investment and private spending as well as bolstering opportunities for other econo...

. While performance was strong and stable, Suntowers underwent various value enhancement projects, including refurbishment of common area, adding new retail tenants, conversion of a retail space (day-market

, performance of this business was still a growth, mainly from a steady rental increase at Suntowers. While performance was strong and stable, Suntowers underwent various value enhancement projects, including

capacity and took advantage of our increased capacity to maximize production in anticipation of a strong sugar season. The fourth quarter was even stronger than forecasted with volumes up over 30% in

, continued growth of bad debt recovery by 33% y-y as well as a strong growth from overseas businesses. As of November 30, 2018, the Company has active billings of 3.16 million transaction per month and 2.14

be negatively affected by the aforementioned circumstances. Nevertheless, we will continue to ensure business stability by ensuring that MACO maintains a sufficiently strong cash flow. Once the global

sales and implementation of the new products from Salesforce. With our strong workforce, our company is prepared to enjoy an Economy of Scale. Selling and Administration Expense For the first 9 months of