traffic was supported by 7.2 percent increase in revenue passenger kilometers (RPK) where Asia-Pacific had the highest growth at 9 percent, following by Europe and Latin America, accounting for 7. 7 percent

increased emphasis on leadership development are the key strategic priorities for the group. 4Q19 IVL Performance Summary IVL reported 2.9 MT of production volume in 4Q19 (-8ppt. organic and +10ppt. inorganic

3 VIII. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 5 IX. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 6 X. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 7 XI. INTERESTS OF EXPERTS AND COUNSEL 8

เน่ืองจาก ค่าใชจ่้ายในการจดัแสดงสินคา้ และค่าใชจ่้ายในการออกบูธตามงาน EVENT ต่างๆ เพื่อให้ ผลิตภณัฑร์องเทา้ กระเป๋า Brand Day Break และ สินคา้ผกัเกษตรอินทรีย ์ Brand WB Organic เป็นท่ีรู้จกัมากยิง่ข้ึน 2

. The Company has routes network movement as follows: Adding Frequency  Bangkok – Phu Quoc from 4 flights per week to 5 flights per week (February 2018)  Bangkok – Vientiane from 7 flights per week to

in an amount of THB 7, 030,552 (the “Convertible Debentures”); Currently, the Buyers are holding the Convertible Debentures as follows: Name Number of Convertible Debentures (Units) Mr. Suparuek Na

................................................................... 7 VII. INFORMATION ABOUT THE ISSUER .................................................................... 7 VIII. OPERATING AND FINANCIAL REVIEW AND PROSPECTS ...................................... 9

land to Saha Pathana Inter-Holding Plc. 1.1 Characteristics and Details of Transaction 7 1.2 Reasonableness of the Transaction 13 1.3 Fairness of Price and Conditions of the Transaction 15 Section 2

determination. 7. Where not all of the debt securities being offered are guaranteed, provide a statement for a non-guaranteed portion. B. Covenants Relating to the Issuance of the Debt Securities 1 “senior

negative income taxes. On a 9-month basis, total revenues grew by 82% YoY, primarily from a significant improvement of residential business and organic growth of hotel business. On the contrary, EBT and net