consumption, private investment and public spending. Under these circumstances, Thai economic growth in the first quarter of 2018 may be almost on par with the level seen in the final quarter of last year

of 2019. Exports, tourism and private investment – among major economic activities – were hampered by the worse-than-expected global economic slowdown. Meanwhile, consumers’ purchasing power weakened

period last year, especially in the tourism sector. However, exports and private investment – two major economic drivers – continued to slow in line with the sluggish global economy and trade volume amid

the decline. Exports, in particular, shrank in line with signs of global economic weakness and anxiety surrounding the trade spat between the US and its major trade partners. Moreover, private

environment of both the public and private sector remained weak, and private consumption, albeit growing steadily, slowed during the second half of the year. Meanwhile, the Thai economy in 2020 is expected to

growth in line with improvement in the overall global economy. Moreover, domestic spending enjoyed promising growth, as evidenced by brighter consumption, private investment and public spending. Overall

into year-end due to continued strength at our customers taking into account the normal seasonal effects” 2. Outlook Marco environment experienced some notable headwinds particularly in the tourism

maintained its growth momentum. Similarly, Thailand’s major economic indicators continued to exhibit growth, as evidenced by brighter exports, government spending and private spending on certain items of

Private Funds ______________________ By virtue of Clause 6, Clause 8, and Clause 9 of the Notification of the Capital Market Supervisory Board No. Tor Nor. 89/2558 Re: Rules for Management of Retail Funds

Section 133 Securities and Exchange Act B.E. 2535 Section 133. The securities company shall manage a private fund with honesty and care to preserve the interests of the person who has authorized the