- denominated debt. Economic Outlook for 2020 In 2020, Thailand’s economic growth will likely slow to the range of 1.9 - 2.3 percent on account of several challenges. External factors include a sharp drop in

) expects the Thai economy to contract by 6.7 percent. The main factors driving the economic downturn are the contraction in exports of services, predominantly tourism revenues following the sharp fall in the

890 854 9% -4% 2,327 2,542 9% Electricity Sales (Million kWh) Solar Power Business – Thailand Phase 1-3 (130 MW) 61.01 62.67 60.69 -1% -3% 191.38 186.70 -2% Cooperative Solar Project (12 MW) N/A 5.40

% Cooperative Solar Project (12 MW) 2.66 4.70 4.51 70% -4% Solar Power Business – Japan (30 MW) 6.60 7.23 9.16 39% 27% Total Electricity Sales (Million kWh) 72.59 72.95 75.19 4% 3% Revenue (Million Baht) 798 781

the COVID-19 crisis that has spread across various countries in the world. This has caused crude oil price in the global market to sharp deteriorate since late Q1/2020 continuing into Q2/2020

60.69 61.02 -3% 1% 254.03 247.72 -2% Cooperative Solar Project (12 MW) 0.36 4.69 4.70 N/A 0.1% 0.36 17.45 N/A Solar Power Business – Japan (30 MW) 4.90 12.85 7.23 47% -44% 19.48 41.24 112% Total

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending September 30, 2019 Thai economic activity in the third quarter of 2019 continued to see limited support, after growing by 2.30 percent in the second quarter. The Thai economy did show some signs of strength in the third quarter, due mostly to the low base effect of the same period last year, especially in the tourism sector. However, exports and private investment – two major e...

Agricultural Cooperative; however, solar installation revenue has increased as the revenue is recognized upon the work progress of the project. Power + Financial Lease (IPP) Power (SPP+VSPP) Steam Industrial

, accountability, transparency, ethic. For quality, reliability, commitment, dedication. For respect, talent, empower, respect. For teamwork, collaborate, cooperative, partnership. 2 Additional recent studies

with relevant organizations in a cooperative effort to formulate effective solutions. As an initiative to tackle this problem, the SEC has planned a study for possibly additional sources of high quality