increase the numbers of gas stations selling B20 to 1,000 stations within end of this year. For natural fatty alcohols market, in 1Q2019, it was better than 1Q2018, as its price was more attractive than

agents (natural persons); 4. Financial advisors, marketing agents of private funds/credit rating agencies for mutual funds; 5. Supervisors, custodians, marketing agents of private funds/credit rating

profit margin as a percentage of sales has increased from 25.49% in the previous year to 25.90% due to change in product sales mix of general merchandise and the enhancement of directly sourced private

in capital expenditure. However, external demand softened as the value of merchandise exports grew at a slower pace. (Source: BOT Press Release No.3/2020 on the Economic and Monetary Conditions for

profit margin as a percentage of sales has increased from 25.51% in previous year to 26.45% due to change in product sales mix of both general merchandise and directly sourced private-label goods, product

margin as a percentage of sales has increased from 25.89% in previous year to 26.17% due to change in product sales mix of general merchandise and the enhancement of directly sourced private-label goods

MANAGEMENT DISCUSSION AND ANALYSIS FOR 2017 2 2. ECONOMIC SITUATION Thai economy continually expanded supported by every economic engine especially merchandise exports that were uplifted from global trade

% Revenue from Retail Merchandise 3.4 0.5% 10.4 1.7% 208.4% Total Revenue from Sales of Food and Beverages 710.0 100.0% 616.1 100.0% -13.2% In the 1st quarter of 2019 and 2020, revenue from sales of food and

projects and realization of Smart Maintenance Highways) 20 Issuer Industry Use of Process Type of Socio- economic outcome Target Population Indicators EIB สถาบันการเงิน Conservation of natural resources

outstanding of US dollar debts and payable while THB and VND depreciation against US dollar during this period; note that this is non-cash item and the US dollar debts were arranged for natural hedge with our