XSPRING ASSET MANAGEMENT COMPANY LIMITED|Super Savings Fund : SSF | Offering Date : 07/07/2020 - 17/07/2020

with its major trade partners, especially China. This factor is set to have an impact on the world’s economic recovery over the remainder of this year. The World Economic Outlook of the International

, buoyed by strong recoveries in tourism and exports. This growth momentum is expected to carry on into 2018, especially amid a brighter outlook in public and private investment. Nonetheless, the business

of 2018, close attention was paid to uncertainty surrounding US trade policy with its major trade partners, especially China. Most recently, the World Economic Outlook of the International Monetary

Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in 2018 and Outlook for 2019 1 1.2 Banking Industry, Competition and Emerging Risks 2 1.3 Regulatory

Environment 1 1.1 Global and Thai Economy in 2019 and Outlook for 2020 1 1.2 Banking Industry, Competition and Emerging Risks 2 1.3 Significant Regulations and Rules related to Business Operations 5 2. Risk

the protracted US-China trade negotiations and concerns over Brexit risks. For the final quarter of this year, a brighter outlook seems to be in store for the Thai economy, thanks to the government’s

. Worse, Brexit risks became heightened in the wake of political change in the United Kingdom. The World Economic Outlook of the International Monetary Fund cut its 2019 global economic growth projection to

materiality. TRIS informed RML that TRIS downgraded the RML credit rating to "BB+" (Double B Plus) from "BBB-" (Triple B Minus) and the rating outlook is revised to "Negative" from

developments warranted a close watch, particularly in US politics, which were a drag on the implementation of economic stimulus measures and tax reform. In addition, Britain’s economic outlook was obscured by