initiated Organizational Transformation project which emphasizes on increasing operational efficiency and work process whereby the Group CEO also assumes an additional role of Chief Transformation Officer

be initiated by relevant trade debtors. This will also enhance financial structures of the Company. The sale of Komchadluek Business and Trademark will reduce risks concerning loss since KMM has

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction, 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 sector remained challenged by new modes of competition in a broader marketplace amid the advancing digi...

rating process. Each credit rating not initiated at the request of the rated entity, obligor, or originator, or the underwriter or arranger of the rated obligation should be identified as such. A-14 3.13 A

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4 percent compared to 4.2 percent in the previous year.The slowdown could be attributed to exports which contracted further due to the stronger Baht and a global economic slowdown. In addition, the investment environment of both the public and private sector remained weak, and private consumption, albeit gro...

the rated entity, obligor, or originator, or the underwriter or arranger of the rated obligation participated in the credit rating process. Each credit rating not initiated at the request of the rated

Baht from sale of assets that the Company can further utilize as debt repayment, which will relief risks from litigation to be initiated by relevant trade debtors. This will also enhance financial

therefore opened in airports and at major tourist attractions. KBank also initiated a promotional campaign to promote the use of K-Credit Card for purchase of foreign currencies, and payment can be made under

Good and Get Loan” program which features loans granted to SMEs with special conditions, in order to promote the SME Single Account policy initiated by the government. With the aim of supporting the

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through support of investment and private spending as well as bolstering opportunities for other econo...