Company shall pursue its strategy and policy, focusing on the core business operation that the Company truly has knowledge and expertise in as the strength, which consists of printing media (Bangkok

Baa1 Baa1 Subordinated Debt Instrument Baa3 Baa3 Baa3 Financial Strength (BCA) baa2 baa2 baa2 Outlook Stable Stable Stable S&P Global Ratings Long-term Issuer Credit Rating BBB+ BBB+ BBB+ Short-term

Subordinated Debt Instrument Baa3 Baa3 Baa3 Financial Strength (BCA) baa2 baa2 baa2 Outlook Stable Stable Stable Standard & Poor’s Long-term Counterparty Credit Rating BBB+ BBB+ BBB+ Short-term Counterparty

Long-term Deposit Baa1 Baa1 Baa1 Short-term Deposit P-2 P-2 P-2 Senior Unsecured Debt Instrument Baa1 Baa1 Baa1 Subordinated Debt Instrument Baa3 Baa3 Baa3 Financial Strength (BCA) baa2 baa2 baa2 Outlook

Baa1 Baa1 Baa1 Subordinated Debt Instrument Baa2 Baa2 Baa2 Subordinated Debt (Basel III-compliant Tier 2 securities) Baa3 Baa3 Baa3 Financial Strength (BCA) baa1 baa1 baa1 Outlook Stable Positive

time outside and its strength as being a media which is able to build on brand awareness amongst a wide audience which made it more attractive to media customers. MACO outperformed the overall industry

” outlook, which reflects the company’s financial strength and low operating risks. In addition, TRIS Rating assigned the company rating of Universal Utilities PLC at “A-” with “stable” outlook, which

time outside as well as its strength as being a media that reaches consumers when they are on the go and creating brand awareness to an extensive reach. On the contrary, Thailand's advertising industry

. will support potential and strength of the investment funds, management and the customer base of the Planet in the future. Miss Pitchapim Pattamasattayasonthi (Sister of Miss Kritchanok

V3 22/02/61 10:09 น. 0 V3 22/02/61 10:09 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2017 In 2017, Thailand’s real GDP grew by 3.9 percent, up from 3.3 percent in 2016 on the back of rising exports and a robust tourism sector, consistent with a stronger recovery in global demand. Headline inflation rose to 0.7 percent, following higher energy prices, while core inflation, which excludes energy and food prices, increased by 0.6 percent due,...