B.E 2535 (SEA) must comply with the relevant Thai laws and regulations and the guidelines, circulars, and other requirements as may be issued by the SEC from time to time (together with the SEA, the

V3 27/02/63 0 V3 27/02/63 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2019 In 2019, the Thai economy grew by 2.4 percent year-on-year, down from

last year. Meanwhile, imports of Hot Rolled Steel decreased by 14% and Domestic Production increased on 11.5% compared to same period last year. The trade war between USA-China, high imports due to

copy in Thai and English) 2. Management Discussion and Analysis (MD&A) for the second quarter of 2017 (a copy in Thai and English) 3. Company's performance report, Form F45-3 for the second quarter of

and orders increase due to higher demand for cars. Thailand and China operations were strong, grew 29.2% and 48.1% year-on-year respectively and outperformed the industry. 2) Car Dealerships and

on 29 November 2019 between the Government of the Hong Kong Special Administrative Region of the People’s Republic of China and the Government of the Kingdom of Thailand on strengthening economic

Q1-2017 (THB 18,695/ton) due to the decrease in HRC market price worldwide and a stagnant of Thai economy in the first half of 2017 causes a lower demand of steel consumption. Management’s Discussion

and caused a material fall in in number of tourists especially from China which is our target customers. The number of Chinese tourists slid about 1% from the same period last year (source

affecting tourism in Thailand still emerged and caused a material fall in in number of tourists especially from China which is our target customers. The number of Chinese tourists slid about 8 % from the same

, negative factors affecting tourism in Thailand still emerged and caused a material fall in in number of tourists especially from China which is our target customers. The number of Chinese tourists slid about