outbound travel was continued and it extremely affected the shrinkage of tourism sector. Furthermore, the impact of export sector caused by the weak demand of the trade partner countries and it continuously

1 FY20 MD&A Advanced Info Service Plc. Executive Summary Mobile business affected by weak economy and competition in data pricing Slowdown in economic and business activities had been observed

. Government enforced fully lockdown with varying degree of restriction within the 2Q causing significant economic impact. For telecom, new subscriber acquisition as well as handset sale remained weak while

FY21 revenue guidance to be flat or slightly decline and EBITDA to be flat. This follows the rising downside risk to the already weak economy driven by the prolonged impact of Coronavirus stem from the

Sovereign Rating Impact Very strong +2 Strong +1 Moderate 0 Weak -1 Very Weak -2 Historical data analysis Momentum adjustments: Near-Term 5Y Overlay from Analysts Output from ESG sovereign

remained concentrated on smaller packages as consumers affected by sluggish economy are seeking for value-for-money. Therefore, the industry ARPU remained under pressure amidst weak spending environment

expanded robustly, adding 290k mainly from pre- to-post migration with our good customer perception on our 5G service. Overall, blended ARPU dropped -5.9% QoQ and -0.6% QoQ to Bt223/sub/month due to weak

in general greater management participation in SGAH to give more support and necessary controls in the weak areas with the increase in the Company’s direct and indirect equity holding in SGAH from

environment of both the public and private sector remained weak, and private consumption, albeit growing steadily, slowed during the second half of the year. Meanwhile, the Thai economy in 2020 is expected to

market by this investment. Also, the Company will have in general greater management participation in SGAH to give more support and necessary controls in the weak areas with the increase in the Company’s