No. INSET 007/2563 24 February 2020 Subject Management Discussion and Analysis of the Year 2019 Operating Results, Ending 31 December 2019 Dear Governors and President Market for Alternative

ที่. INSET 007/2563 วนัท่ี 24 กมุภาพนัธ ์2563 เรื่อง ค าอธิบายและการวิเคราะหผ์ลการด าเนินงานของฝ่ายจดัการ ส าหรบัปีสิน้สดุวนัท่ี 31 ธันวาคม 2562 เรียน กรรมการและผูจ้ดัการ ตลาดหลกัทรพัย ์เอ็ม เอ ไอ บร

administration (as disclosed on the SEC Office’s website) as well as the SEC Office’s methods for phanchul Typewriter [Input date] phanchul Typewriter [Input the Legal Entity Name in Thai (If any) and English (if

B.E. 2562 (2019). In this regard, we have studied, acknowledged and understood the SEC Office’s Personal phanchul Typewriter [Input date] phanchul Typewriter [Fill in ALL latest applicant's profiles

specify the type thereof): .....................................................................  Branch of a foreign commercial bank phanchul Typewriter [Input date] phanchul Typewriter [Input the Legal

 Capital market professional. For example, financial advisor, asset appraiser, credit rating agency, trust manager, etc. phanchul Typewriter [Input date] phanchul Typewriter [Fill in ALL latest applicant's

this statement”; and 6 3. “A copy of form 69-PRICING-FD has been registered by the [insert name of the relevant regulator] together with form 69-BASE-FD. The effectiveness of form 69-PRICING-FD neither

each other in marketing. Referring to market share, Komchadluek has never considered BangkokBiz as its competitor for business operation. Also, program sponsors or partners who insert an advertisement or

be 10% stronger compared to last season, leading to higher demand in Q4 2017 and H1 2018. The company expects higher prices in the fourth quarter given the robust demand and increased input costs. An

. Pricing impact on revenue: the company realized overall higher prices in Q4 compared with previous months on same-customer comparison basis given the robust demand and increased input cost pressure on all