% going forward and the ratio should gradually decline as a result of cost synergies in through restructuring, in particular in digital operations. In light of tangible improvement in gross profit, VGI

traction from the first quarter. The ongoing economic rebound was mainly driven by exports and tourism, whereas domestic spending and investment only gradually picked up. Still, the economy has yet to see

against USD. In general, AIS has policy to mitigate currency risk using forward contract to partially cover capex payable. Finance cost was Bt1,386mn, decreasing -11%YoY due to lower interest rate and

securities investment and futures contracts. The meeting had also deliberated on the matter of “Master Blueprint” and the guidelines to drive forward concrete results.Moreover, the Digital Infrastructure

for promoting the development of financial innovation and regulations in our respective jurisdictions. We look forward to enhancing a close cooperation with the CSSF in the future.”Mr. Claude MARX

SET is a welcome addition to Thailand and Singapore cross-border development. SEC Thailand looks forward to the successive implementation and participation from market stakeholders. Meanwhile, we

tax cut packages and accommodative fiscal policy. Broadly speaking, both developed and developing economies, excluding China, showed signs of improvement in concert. Looking forward, the global economic

FX gain of Bt308mn in FY19 due to THB depreciation against USD. In general, AIS has policy to mitigate currency risk using forward contract to partially cover capex payable. Finance cost was Bt4,522mn

easing COVID-19 situation with a rebound of foreign tourists which boosted Thailand’s economic recovery. Nonetheless, domestic demand stayed soft due to the global geopolitical conflicts that created

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