the decrease of claim incurred net of recovery from reinsurers 48.40 million baht, commission and brokerage expenses 40.61 million baht as well as other underwriting and operating expenses 44.11 million

recovery, competition for available projects are more intense. Discussion and Analysis of the Company and its subsidiaries Operational Results in 2017 and 2016 Corporate Revenue In 2017 the Company and its

revenue of THB 497.71 million, increasing THB 125.91 million, or 33.87%, from the same six-month period in 2016. The increase in revenue is mainly due to the recovery in the Hard Disk Drive industry, which

implemented in some areas and business activities contributed to economic recovery. Private consumption contracted in consistent with low purchasing power and confidence. Meanwhile, the tourism sector

are partly from the expedited disbursement at the end of the year. In fact, the government expenditure plays a key role to support the recovery of the Thai economy during the COVID–19 outbreak. In Q3

1,202.7 960.5 1,067.5 242.2 25.2% 135.1 12.7% Profit for the period 105.3 133.3 108.5 (28.0) (21.0)% (3.2) (3.0)% In Q2-2017, the Company's total revenue increased from Q1-2017 and Q2-2016, representing an

company was at Baht 5,402 million, increased by Baht 3,273 million or 154% from Q1/2019, and increased Baht 3,771 million or 231% from Q2/2018. this is mainly due to the immediate recognition of GLOW’s

revenue from the Company and subsidiaries in Thailand, which increased THB 75.58 million, accounted for 91.67% of the total increase in revenue; while the revenue from the Company increased THB 35.72

business remained a revenue growth engine through economic recovery Broadband revenue maintained its growth momentum, with revenue of Bt2,487mn, increased 22% YoY and 2.0% QoQ. AIS strives to deliver

Lane, Amphur Bangpa-in, Ayuthaya Province 13160, Thailand Tel (035) 350 880 Fax (035) 350 881 Website: www.aapico.com Management Discussion and Analysis for the year 2021 2 Total revenue increased by