-19 due to an increase in spectrum payable and lease liabilities. The interest bearing- debt currently stood at Bt92,200mn, decrease from Bt94,200mn. Total equity reported Bt71,696mn slightly increase

and intense competition. Transaction For the Year ended 31st December Unit 2019 2018 Gross Profit Ratio % 10.90 14.58 Earnings Ratio % 0.19 3.15 Debt to Equity Ratio Time 0.30 0.27 Return on Equity

of the Thai baht and the intense competition which caused the exports to shrink from the previous year. Domestic consumption was also affected by high living expenses and household debt, as well as the

benefit obligations of 1.67 million baht and deferred tax liabilities of 8.29 million baht 2.3 Equity In 2018, the Company and its subsidiaries had a loss from operations of 423.23 million baht Other

3% Accrued expenses 4,230 2% 2,087 1% 1,868 1% Other current liabilities 1,451 1% 1,120 0% 2,259 1% Total current liabilities 155,926 56% 163,583 64% 12,004 5% Employee benefit obligations 4,879 2

3% Accrued expenses 4,230 2% 2,087 1% 1,868 1% Other current liabilities 1,451 1% 1,120 0% 2,259 1% Total current liabilities 155,926 56% 163,583 64% 12,004 5% Employee benefit obligations 4,879 2

3% Accrued expenses 4,230 2% 2,087 1% 1,868 1% Other current liabilities 1,451 1% 1,120 0% 2,259 1% Total current liabilities 155,926 56% 163,583 64% 12,004 5% Employee benefit obligations 4,879 2

months 13 13 Total 193 227 Allowance for doubtful debt 13 11 Liabilities And Shareholders’ Equity LIABILITIES AND EQUITY BREAKDOWN 31 DECEMBER 2016 31 DECEMBER 2017 (THB million) % out of total liabilities

17,826 0% 20,909 0% 31,230 1% 43,562 1% Employee benefit obligations 163,856 2% 167,253 3% 137,981 3% 145,172 4% Other non-current liabilities 130,432 2% 105,061 2% 87,316 2% 74,928 2% Total non-current

Baht. Opinions of the Board of Directors : The Board of directors have an opinion that as the Company has the obligations; therefore, they considered that the fair value of the Common Shares which has