V3 27/02/63 0 V3 27/02/63 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2019 In 2019, the Thai economy grew by 2.4 percent year-on-year, down from
area and also from the decline in construction material sales in line with the slowed down in the real estate sector. Additionally, investment in machinery and equipment also contracted as exhibited by
from the decline in construction material sales in line with the slowed down in the real estate sector. Additionally, investment in machinery and equipment also contracted as exhibited by the decline in
and Derivatives’ was previously called Olefins. The new nomenclature better reflects our sector following the consolidation of Huntsman assets. ** Combined PET includes Integrated PET, Specialty
) 0.94 0.92 0.64 48% 0.94 0.64 48% *Core Financials exclude IRSL ** ‘Integrated Oxides and Derivatives’ was previously called Olefins and the new nomenclature better reflects our sector especially post
and targeted to lead to $350 million in run-rate cost savings by 2023. These initiatives and the strategic acquisition of the Huntsman Integrated Ethylene and Propylene Oxide (EO & PO) assets (code
activities and the low rate of capacity utilization in manufacturing sectors. For banking sector in the year 2019, overall bank loan grew at a slower pace mainly attributed to subdued corporate loan growth in
(times) 1.35 0.66 0.65 +68bps +70bps * ‘Integrated Oxides and Derivatives’ was previously called Olefins. The new nomenclature better reflects our sector following the consolidation of Huntsman assets
sector remained challenged by new modes of competition in a broader marketplace amid the advancing digital age and its rapid pace of technological advancement. Businesses have also had to cope with Thai