and excise tax rate. - OSP, as a market leader, drove energy drinks market back to growth at the rate of 5.7% in 2019, versus 0.6% last year. By using multi-brand portfolio and consumer-centric

advisory fee related to the development of Mixed-use project and group restructuring, (2) higher personnel expenses to support the expansion of the hotel and education businesses as well as new related

handset sales due to distribution channel lock down. Core service revenue (excluding IC and TOT partnership) was Bt32,797mn, increased 2.1% YoY and 1.4% QoQ on the back of a continuing growth in both fixed

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

branded sales continued to grow remarkably by c.60%, while domestic CMG are back on track for growth from recovered sales plus good feedback of the new product.  Q3/2017 sales grew 9% QoQ due to recovery

a development project of tourist facilities on Emboodhoo Lagoon in the Republic of Maldives (“Crossroads”), by acquiring interests in a separated head lease, which covers three resorts and an

of investment of THB 281 mn Business expansion toward mixed-use project development CPN and Dusit Thani Public Company Limited (“DTC”) joint-invest in a mixed-use development project including hotel

7,698 mn, up by 5.2% YoY with a 6% YoY growth in net profit to THB 2,483 mn. Establishment of a Joint Venture to support business expansion plan On 5 September 2017, the Company established a new joint

growth plans Indorama Ventures 1st Quarter 2018 MD&A 4 Portfolio Development We continue to upgrade our portfolio through organic growth, operational excellence initiatives, value accretive acquisitions

 In Q4/2017, the Company and its subsidiary recorded total sales of Baht 1,531 million, an increase of 2% YoY, following growth from domestic CMG launching new products as well as continue growth from