in 20172, mainly due to an ongoing postponement of festivities subsequent to the mourning period over the passing of His Majesty King Bhumibol Adulyadej and the shrinkage of advertising spending in a

and promotional spending as a percentage to sales. In addition, administrative expenses declined by -44.9% YoY in Q4’18 due to last year’s various extra expenses aforementioned. The Company Q4’18

income. Public spending also increased from spending on goods and services and compensation expenses while capital spending declined from the high base effect of last year from the disbursement of

, core SG&A declined, benefitting from lower selling and marketing expenses, administrative expenses reversal (lower pension spending), lower consulting fee as well as last year’s one-time expenses related

, decreasing of 128 million baht or 2% q-q and 12% y-y. This is the result of the COVID-19 pandemic situation and economic slowdown has made consumers more cautious on spending, especially in cash loan products

loss and high base of 2Q21 with one-time other income. Revised guidance from rising economic concerns Due to a rising concern on inflation, consumer spending, and continued intense competition, AIS

, 2017). • Economic stimulus—government subsidies—after the financial/pandemic crisis. • Corporate income tax deduction/exemption (via significant spending). • Import duty relief, etc. • Permission for

farm and non-farm income. Public spending also increased from spending on goods and services and compensation expenses while capital spending declined from the high base effect of last year from the

2018 USD 15 million Actual Spending 2018 USD 13 million An additional investment in Phase 3 of the new plant during 2018, will commence operational in the first half of 2019. With the increased capacity

barely changed yoy. Cash and cash equivalent decreased 19% due to the spending of some internal cash flow to acquire the remaining shares of the subsidiary in 1Q’18. Trade receivable increased because of