revenue from CAZ to be decreased. Although, TAKUNI’s decrease in the shareholding proportion in CAZ, CAZ’s performance can be expected to improve from funding on the mai which will create more potential of

screens (35 screens as of 9 February 2018), and the expansion of existing static billboards. Moreover, the advertising spending is expected to significantly improve in 2018, aiding by an ongoing healthy

target customers in order to realize the importance and improve the quality of goods and services as well. Management's Discussion and Analysis and operating results for the Year 2017 Page 2 / 10 At the

the following acts unless having improve the adequacy in accordance with the prescribed rule: (1) providing service for a new customer; (2) extending the period of service to a former customer; (3

economic slowdown and increasing of household debt as well as new regulations of debt collection. Meanwhile, the Company has implemented the new collection system under “Pooling Concept” to further improve

continued to expand and improve network quality with new 2600MHz spectrum and enhance 4G/5G network capacity to secure leading position. As a result, EBITDA (Pre-TFRS16) decreased -3.0%YoY, in line with FY20

and mixing of fuel material to improve combustion resulting in better heat rate and lower fuel consumption per unit and also improvement of feedstock procurement process including sourcing new types of

projects which had just received and delivered in Q3–2019, such as the Network development project and the Improve the efficiency of the remote communication network system project of Bank for Agriculture

and production processes, modification and mixing of fuel material to improve combustion resulting in better heat rate and lower fuel consumption per 5 unit and also improvement of feedstock procurement

arbitral process under the Derivatives Act B.E. 2546 (2003) in addition to the arbitral process under the Securities and Exchange Act B.E. 2535 (1992), it is deemed necessary to improve the processes and