Fitch National rating: AA+ (THA), Outlook: Stable S&P BBB+, Outlook: Negative บริษทั แอดวานซ์ อินโฟร ์เซอรวิ์ส จ ากดั (มหาชน) ค าอธิบายและบทวิเคราะหข์องฝ่ายบริหารประจ าไตรมาส 1/2560 6 คาดการณ์และมมุมองของ

strengthen the Company into being a global automotive parts manufacturer by introducing the Company to a new customer base and international distribution channels, allowing the Company to attain more stable

international distribution channels, allowing the Company to attain more stable and sustainable growth and diversify operating risk concentrated in Thailand. 2. The Company expects that the Transaction would

ทุน 45 ผลกระทบของอตัราแลกเปลีย่นเงนิตราต่างประเทศ 11 รวม 41,069 รวม 41,069 อนัดบัเครดิต Fitch National rating: AA+ (THA), Outlook: Stable S&P BBB+, Outlook: Negative บริษทั แอดวานซ์ อินโฟร ์เซอรวิ์ส จ า

at 30 June, 2017, Ratio of the Company’s Debt to Equity was only to 0.33 times and it decreased 0.03 times from 2016 and there was no balance loan. This index represented the stable and solid financial

2017. TRIS Rating, an associate of S&P in Thailand has affirmed the Company’s rating of “A+” and revised upwards its outlook to ‘Positive’ from an earlier ‘Stable’. From a performance perspective, this

has become more stable; although some small degree of operational uncertainties still remain and are dependent on the overall consumer confidence, the Government’s economic stimulus to boost overall

39% to 0.54 (Net Operating Debt/Equity) and TRIS Ratings (a strategic part- ner of S&P Global) ascribed the Company’s rating at “A+”. They also upgraded the outlook of IVL to “Posi- tive” from “Stable

39% to 0.54 (Net Operating Debt/Equity) and TRIS Ratings (a strategic part- ner of S&P Global) ascribed the Company’s rating at “A+”. They also upgraded the outlook of IVL to “Posi- tive” from “Stable

below-the-expectation sales in other product categories due to the strong competition and becoming another stable sources of revenue in the future. - Translation - Page 6 of 11 Gross profits margin by