holding of 51%). However, The Group still focused on managing and controlling cost to be continuously achieve maximum efficiency. Even through, the first half year of 2020 is a challenging half year for the

achieved continual growth despite the emergence and persistence of multiple risk factors such as higher oil prices, global economic slowdown especially in trade alliance countries, exchange rate volatility

margin was at 48%, declining from 50% in FY21 mainly due to an increased mix of handset sales to total revenue. The reported net profit was at Bt26,011mn, dropping -3.4%YoY from the challenging cost

“kreng jai,” which refers to Thais’ unique behaviors of refusing requests less, showing agreement more, challenging other people less, and avoiding confrontation more, communication in the Thai language

mutual funds are able to successfully time the market and that their performance is negatively related to their expenses. • Carhart (1997) documents that persistence in superior fund performance is very

Management Discussion and Analysis (MD&A) 2019 Page 1/8 Management Discussion and Analysis (MD&A) 2019 Overview and Factors Affecting Future Performance 2019 was considered a challenging year for the

322.5 Million Baht representing a 3.5% decrease in gross profit versus prior year due to a challenging US retail environment higher food costs, changing product mix and 2017 carry over benefit of $700K

1 2017 MD&A Advanced Info Service Plc. Executive Summary In 2017, mobile business improved from stronger 4G positioning amidst competitive environment. Competitive landscape remained challenging in

% decrease in gross profit versus prior year due to a challenging US retail environment higher food costs, changing product mix and 2017 carry over benefit of $700K from Japan perpetual license deal

some marketing risk and to improve product quality to be accepted for international standard level. For the year 2018, it will be a challenging year for the Company to increase more export volume, sales