E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction, buoyed by strong recoveries in tourism and exports. This growth momentum is expected to carry on into 2018, especially amid a brighter outlook in public and private investment. Nonetheless, the business sector remained challenged by new modes of competition in a broader marketplace amid the advancing digi...

- - Adder 33.9 28.1 (5.8) (17.1%) Other sales and service income 11.3 11.8 0.5 4.4% Sales from Municipal Solid Waste Power Plants 121.3 114.0 (7.3) (6.0%) Sales of electricity - Base tariff and Ft 3.4 5.3 1.9

of subsidiary company does not have the solid plan shift to the international market, providing to the independent valuer and auditors, this transaction is fully provided. Loss from allowance of

of subsidiary company does not have the solid plan shift to the international market, providing to the independent valuer and auditors, this transaction is fully provided. 5 Loss from allowance of

, 2012 by Mr. Khumla Nakkhavong (the sole shareholder), which has awarded the municipal solid waste concession in Vientiane. Relationship among 3 parties: None 3. General Characteristics of the Transaction

sound and solid and thus strengthened their resilience to volatility. On progress of sustainable development, moreover, the Thai capital market obtained the highest corporate governance score among ASEAN

accomplished multiple goals simultaneously; for instance, intermediaries and the exchanges? fundamentals remained sound and solid and thus strengthened their resilience to volatility. On progress of sustainable

policy and goal of MDES is to reinforce the solid practices of personal data protection in Thailand since it is the cornerstone of digital economy development as well as cybersecurity strength. This

, delivering a solid operating revenue of THB 199mn, an increase by 4.9% QoQ and 9.6% YoY. The Company reported net profit of THB 51mn, increased by 36.9% QoQ and 26.0% YoY. For more details of the Company’s

reach. During 2017, MACO also has started to introduce digital media into its product portfolio. These above-mentioned developments already borne fruit to our solid performance throughout 2017. In this