with ongoing data consumption demand, supported by rising tourist arrivals, benefiting the prepaid segment. Competition continued shifting towards value- based offerings with more benefits and

selling and administrative expenses by THB 170 million or 28% due to provision of employee's severance pay corresponding to revision of the Labour Protection Act of GLOW and unwinding costs of FX forward

% (8.18% indirect ownership interest of EGCO). Corporate income tax expense was increased since the utilization of tax loss carry forward led to no corporate income tax in Q3/2016. Page 13 KEGCO  Khanom

taking into consideration the interests of the whole, the environment, the related parties and continuously partake in driving the well-being of society and communities forward. In addition, CPN is chosen

ป้องกันความเสี่ยงด้วยตราสาร อนุพันธ์ อาทิเช่น สัญญาซื้อขายล่วงหน้า (Forward) ออปช่ัน (Option) สวอป (Swap) เป็นต้น ทั้งนี้มูลค่าของตราสารดังกล่าวอาจมีการ เปลี่ยนแปลงไปตาม ราคาหลักทรัพย์อ้างอิง หรือสภาวะตลาด

declined after accelerating in the previous quarter. Looking forward, financial institutions expect demand for business credit to increase, especially for large corporates to invest in fixed assets for

2 and Stage 3, the standard requires ECL allowances based on lifetime expected losses. Moreover, ECL also incorporates forward-looking economic scenarios into loss allowances. For 1Q20, expected

requires ECL allowances based on lifetime expected losses. Moreover, ECL also incorporates forward-looking economic scenarios into loss allowances. For 1Q21, expected credit losses totaled Baht 1,234 million

% )##" # )#8, % ก Earning yield gap model T3 ##,: Bond yield #83-( 3% .) Earning yield gap 3% T3 :" Forward P/E # )# 8!K S&P500 16.6 .)"7)!$!K )# Y 2,540-2,580 % (ก6 , !#" # %)!$E . ก Bond yield 83-กก

that could significantly affect financial position or future operation (forward looking) for investors’ understanding and be able to analyze future operation direction of REIT. 15. Trustee Opinions on