PHILLIP ASSET MANAGEMENT COMPANY LIMITED|Feeder Fund | Offering Date : 16/04/2021 - 26/04/2021

to mid-single digit, while maintaining EBITDA outlook with low-single digit decline and CAPEX of around Bt35bn. Market and Competitive Environment In 3Q20, mobile competition remained stable as all

development strategy, aimed at restructuring and revitalizing the Thai economy. “ Creating an Inclusive Environment” In 2017, the Royal Thai Government initiated the Eastern Economic Corridor (EEC) to be an

built environment, such as street lighting upgrade projects refer to projects that achieve energy performance improvements through the application of energy efficiency measures and components that relate

• Upgrade and maintenance of water production, transfer, storage and distribution works • Implementation of water efficient technologies • Upgrade of wastewater treatment plants and associated works (e.g

was Bt6,644mn, decreasing -1.7%YoY as D&A rose from new spectrum and expansion and decreasing -7.3%QoQ from unrealized foreign exchange loss and tax benefit in 4Q20. Market and Competitive Environment

nurseries Cost of installation, upgrade, maintenance or running costs of manufacturing and processing facilities and associated equipment for solid wood production, veneer and plywood production and

provide the digital lending via online platform to enhance the access to financial service 3Q21 MD&A Advanced Info Service Plc. 3Q21 MD&A Advanced Info Service Plc. Market and Competitive Environment The

shifting to low carbon fuel sources • Improving water management and efficiency, e.g., by reducing leaks, reducing urban run-off • Installation or upgrade of water capture and storage infrastructure

noticed in Q2’19. In additions, the same upgrade via LTSA with Siemens for ABP5 is scheduled in Q3’19. The progress of SPP Replacement Scheme BGRIM has 5 cogeneration power plants qualified for the SPP