ETF) ​ Mutual Recognition of Funds between Hong Kong and Thailand (HK-TH MRF)​ การจัดตั้งกองทุนรวม Cross-border offering of funds ASEAN Collective Investment Schemes (ASEAN CIS) Asia Region Funds

E_1 Legal_FA_2015_12_29-c A FFeeCCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended September 30, 2017 The Thai economy maintained steady growth in the

both pricing environment and handset campaigns despite lessen from previous year. Market was driven by postpaid acquisition via handset bundling package causing steady rise in blended ARPU throughout the

changes over the past few years. Traditional media such as television, newspaper, magazine and radio has been in steady decline, while Out-of-Home (“OOH”) and online/digital media have become the go-to

Solutions grew by THB 35.31 million or 13.43% from the recognition of license income and implementation fee from projects in Thailand and Malaysia, as well as, organic growth in recurring outsourcing income

management, compliance, and internal audit based on the principles of the Three Lines of Defense to ensure the effectiveness of securities company oversight and to further promote recognition of the

economy growth in 2019, the slowdown of Government’s energy Saving programs promoting the replacement of conventional lamps to LED and the delays of sales revenue recognition resulting from product

and the TFRS 9 revenue recognition concept adopted for calculation of interest income and fee income related to loan, as well as reduction of contributions to the Financial Institutions Development Fund

presenters and should not be treated as those of the SEC Thailand. • These slides are not to be posted (on any websites or public domains), cited, copied or circulated. 2 Revenue recognition 3 Revenue

) Steady growth in private consumption from stimulus packages and recovering agricultural product prices from production expansion and 4) Other supporting factors, such as government spending and other