instruments Baa1 Baa1 Baa1 Subordinated debt instruments Baa3 Baa3 Baa3 Outlook Stable Stable Stable Financial strength (BCA) baa2 baa2 baa2 Financial strength outlook Stable Stable Stable Standard & Poor’s
from overall F&B business is not less than THB 100mn in 2018. On Financial strength and cash flow, the Company recently get approved from 2018 Annual General Meeting of Shareholders to maintain debenture
business in Singapore with Baan Ying Group. We saw a good trend in this business and are preparing infrastructure for branch expansion. On Financial strength and cash flow, the Company has paid back full
operation business as GSTEL was currently in the process of debt restructuring and seeking funds from external source with aim to enhance its balance sheet and improve their financial strength. The Company’s
Associate Company’s ordinary shares will benefit tothe Company and shareholders in the future, Whereby after the investment by the Company and other investors, the Associate Company will be strength and ready
higher uncertainty, especially from foreign countries. In addition, the MPC raised concerns over the Baht’s increasing strength compared with the currencies of trading partners and competitors saying
conflicts of interest arising due to the relationships that may compromise or appear to compromise the independence and objectivity of credit rating operations; Transparency and timeliness of ratings
creation. Responsible investment requires high standards of transparency, probity and care on the part of institutions, which may be met by adhering to these Principles. The standards set out here are
economic environment may also have an adverse impact on Group sales. Any failure in the Group's efforts and strategies to maintain the strength of the Brand in the face of adverse macroeconomic or
the regional production hub remains strong, but also reflected the potential and strength of WHA Group’s industrial estates, which can fully support the needs of both local and international customers