Microsoft Word - FY19 MDA edited after comment.docx 1 FY19 MD&A Advanced Info Service Plc. Executive Summary Mobile business grew amid competition In FY19, despite slow economic growth and continued

1 FY18 MD&A Advanced Info Service Plc. Executive Summary Maintained leadership in mobile business In FY18 competition in mobile industry remained elevated particularly on data pricing with fixed

purchasing power. However, from Sep-21 onward, restrictions were gradually lifted, resulting in some improvement in consumer spending. Meanwhile, competition in mobile industry remained elevated as operators

system 6 remained adequate, thus there were no signs of intense competition in the deposit market, especially amid continuous fund inflows. These factors affected KBank liquidity in various dimensions. We

decreased of 234.5 MB and 94.3 MB, respectively, due to the governmental projects in the first half of 2017 were relatively small and delayed. The Company also faced a higher market competition. Besides, in

information technology frameworks 2.5 Have investors educated and protected properly 2.6 Promote competition in the Thai market and linkages with the global market 3. Key Reform Measures With the input

short courses to increase student base and to reduce impact of high competition from lower population under educational age. In 1Q19, EBITDA from education business was THB 23 million, a decrease of 14.8

connection to the region. • Continuous Accessibility to Information The ASEAN SLBS further set out how investors are to be given access to information continuously by requiring the Issuer to disclose

there was a lack of capital expenditures projects, resulting in low work load in the first half of 2018. For new projects that came in 2018, as a result, there was very intense competition in terms of

capacity and growth. Food & beverage: Sales was 215.9 Million THB, classified as follows; A&W Restaurant: sales was 192.2 Million THB, decreased by 4.8 Million THB or -2.4% YoY as a result of competition in