and continued to grow from the dairy export market. In China, the first quarter, was hit by the COVID-19 situation but began to recover from the beginning of the second quarter. In addition, the company
retail businesses, has also been impacted by several of Thailand’s economic indicators including the consumers’ confidence index which hit the lowest in 38 months, the floods in upcountry, as well as the
hit merchandise exports, and domestic demand. Private consumption indicators indicated the slower expansion in most sectors. Manufacturing production and private investment contracted. Nevertheless
governments and central banks to deliver unprecedented level of fiscal stimulus and highly accommodative monetary policies. As for Asia, we were one of the first to have been hit by the virus and the
have gradually stopped providing fixed-speed unlimited price plans and expect the impact of suppressed ARPU to slowly be unwind. Handset subsidies remained elevated in 4Q18 due to seasonality while
higher demand from Cambodia and Myanmar. The Company’s sales to Myanmar and Cambodia hit a record high in 3Q19 and 4Q19 respectively. As to leverage the leading position in Cambodia, carbonated Carabao
Myanmar business. Personal Care Segment Total personal care revenues decreased by 21.9% YoY to THB 539 million. Beauty segments hardly hit by COVID-19 situation. Some categories of baby products also
also suppressed the market sentiment; Thai banks came under pressure after the large banks announced waiving fees for transaction via internet and mobile banking. The banks will sacrifice fee income in
overall 2019 growth at 2.4% the lowest in five years. Exports were hit by trade tensions and the appreciation of the Thai baht had a detrimental effect, which fed through to the domestic economy. The