requiring that such state agency shall conduct negotiations with its disputing parties to mitigate the damage of the state and to ensure the justice for the people, provided that such negotiations shall be

easier to operate. In addition, the Company had delivered several large-scale projects in this quarter, such as the GDCC Service Expansion (VM) Trading Project of National Telecommunications PCL, the

project values than the previous quarter. This was partly due to the expansion of government investment expenditures regarding the distribution of transportation agencies. Many IT projects have been

overall economic conditions have dampened consumers’ spending, despite a spate of government stimulus measures such as the state welfare card and the ‘Eat, Shop and Spend’ project in the second half of 2019

consumption to decline. Especially, from the tourism sector and airlines had to suspend services. With the culmination of events being the declaration of the state of emergency and social distancing policies

declarations of the state of emergency including gradually closing the international inbound and outbound travels to stop the spread of the disease. In Thailand, the state of emergency was declared as well and

in the process. Major projects in progress such as the Project of the development for train tracking system and cargo management of the State Railway of Thailand, the GDCC Service Expansion (VM

economy continues its growth momentum following the GDP expansion by 4.8% in 1Q18. The growth is attributed to a number of factors, namely 1.) exports growth in-line with the improving sentiment of the

referenced crude oil price of every products; stemming from a state of excess supplies of finished products in the market, and declining demand from the 4 Management Discussion and Analysis of Business

and Q1- 2016, which was Baht 199.5 million and Baht 16.5 million, respectively, due to the first quarter of 2017. The overall economic expansion has improved direction, with the main driving force from