system. Directions and strategies for enhancing capacity of Thailand’s capital market were formalized to fulfill the country’s key requirements and competitive edge on a global scale in line with the 20

increase of 463.3 MB and 700.2 MB or increase of 36.6% and 68.0%, respectively. This is because the Company had delivered many large-scale projects which had just been auctioned in early 2019. Those large

million or 23.3%. The amount of which contributed from both domestic and export at the ratio of 46:54 respectively change from the proportion of 62:38 of the corresponding period last year on the back of

-517-0109-14 Fax 66-2-5170529 February 27, 2017 Subject Management Discussion and Analysis for the year ended December 31, 2016 To Managing Director of Stock Exchange of Thailand Table of Financial Ratio

share to the Company’s existing shareholders in proportion to their respective shareholdings (Rights Offering) at the allocation ratio of 6.0034461 existing shares to 1 newly issued ordinary share, at the

Exercise ratio (warrant: common stock) 1 : 1 Exercise price (baht per share) 2.10 Term of warrants 3 years Exercise period Quarterly First exercise date 30 September 2020 Last exercise date 27 August 2021

started its positive contribution to NPAT. Continued growth in digital services AIS digital services continued to scale in size focusing on growing user base both in consumer segment and enterprise

same period of previous year mainly because the significant growth in revenue. The Company had lower proportion of cost due to economy of scale by producing in larger quantities, and the more skill

(compared to 22.65% of the same period of previous year). The profit margin increased from the same period of previous year mainly because the significant growth in revenue. The Company had lower proportion

, other operating expenses rose Baht 765 million, or 5.03 percent over-year due in part to marketing expenses. As a result, our cost to income ratio increased to 41.20 percent from the same period of last