profit and more leverages. In addition, the improvement of return on equity was partly from the decrease of shareholders’ equity as mentioned above. For the financial risk perspective, despite the higher

this quarter, the ratios were not substantially changed yoy. Trade receivable and Trade payable period were decreased while inventory period was slightly increased. For the financial risk perspective

the sustainable profit and higher dividend payout ratio. From the financial risk perspective, all ratios were at extremely low risk level as bank loans were paid off in the 3rd quarter. In respect of

established any loss reserve in its accounts. Executive perspective for business trends in 2020 The Company's management foresees that, currently, the epidemic of the Coronavirus 2019 (COVID-19) and the economy

social security bureau. For inventory day, it increased 11 days comparing to the same quarter of last year. For the financial risk perspective, the ratio was at extremely low leverage with debt to equity

were barely changed comparing to the same quarter of last year. For the financial risk perspective, the ratio was at extremely low leverage with debt to equity ratio of 0.2x from 0.3x yoy. Please be

, however, it would be restrained by non-farm household income given signs of moderation in earnings, and lower consumer confidence among low-income households due to elevated household debt. Bank of Thailand

represented 10.6% YOY while non-durable goods, in which high proportion of low to medium-income household expenditure, growth only 0.0% YOY since partly owing to household debt that was still elevated at 78% to

1.2% QoQ to stay at Bt610 despite elevated pricing competition. CSL was delisted and will help capture growth in enterprise. The acquisition of CSL has completed with AWN successfully bought 98.96% of

1 FY18 MD&A Advanced Info Service Plc. Executive Summary Maintained leadership in mobile business In FY18 competition in mobile industry remained elevated particularly on data pricing with fixed