or 25.03% increase from the same period of last year. Details of each business units are:  VFX increased by THB 7.067 million or 59.20% compared to the same period of last year as a result of stable

quite stable. Absence of total transaction costs After including total transaction costs • The amount of arbitrage of opportunities reduced significantly. • The total transaction costs consisted of

stable coin (ยกเว้นเฉพาะ broker/dealer/IA) ▪ Cryptocurrency** ▪ Utility Token (พรอ้มใช)้ SEC Classification : ใชภ้ายใน (Internal) การส่งเสริมการระดมทุนในรปูแบบดิจิทัล 6/6 เพ่ิมความหลากหลายของ product ยก

plants in 2018. • EBITDA decreased 8.6% q-on-q to Baht 2,202 million in Q4’2018 due to stable selling price per unit to IUs from unchanged of Ft but an increase of gas cost however, this was the temporary

including coins in games or points to redeem for products or services are not regarded as operating digital assets businesses . For providers who service trading digital assets with Thai baht pegged stable

spectrum licenses as well as lower interest- bearing debt QoQ. Average cost of borrowing stood at 3.0% per year. Profit In 1Q19, EBITDA was stable YoY at Bt18,906mn due to higher network OPEX and SG&A

offering price is determined by the shareholders’ meeting of the Company, the Company is required to obtain approvals not only from the EGM but also from the Office of the Security and Exchange Commission

parts. The prospect of lower oil prices is likely to push down headline inflation in 2019, while core inflation is expected to be stable, reflecting more modest growth in private consumption. It is likely

Thailand remained stable. Capital funds and reserves were at a high level and were able to support the challenges of uncertain economic conditions. The performance of the Thai banking system improved, mainly

V3 22/02/61 10:09 น. 0 V3 22/02/61 10:09 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2017 In 2017, Thailand’s real GDP grew by 3.9 percent, up from 3.3 percent in 2016 on the back of rising exports and a robust tourism sector, consistent with a stronger recovery in global demand. Headline inflation rose to 0.7 percent, following higher energy prices, while core inflation, which excludes energy and food prices, increased by 0.6 percent due,...