used by financial analysts to understand a company’s efficiency and profitability based on data found in financial statements. Use: The primary way of aggregating an economic activity to a company level

third quarter of 2017, buoyed largely by tourism and exports. Nonetheless, the economic recovery was not broad-based, as evidenced by sluggish private consumption. While certain businesses were still

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending September 30, 2019 Thai economic activity in the third quarter of 2019

of 2019. Exports, tourism and private investment – among major economic activities – were hampered by the worse-than-expected global economic slowdown. Meanwhile, consumers’ purchasing power weakened

traction from the first quarter. The ongoing economic rebound was mainly driven by exports and tourism, whereas domestic spending and investment only gradually picked up. Still, the economy has yet to see

support of investment and private spending as well as bolstering opportunities for other economic sectors. Nonetheless, protectionism triggered by the US-China trade dispute dealt a blow to global economic

sustain its growth. Overall, however, it was plagued by weak exports and tourism amid the global economic slowdown. Aside from these challenges, businesses had to contend with more complex competition

FROM THE SECRETARY-GENERAl 06 SEC BOARd 09 CApiTAl MARkET SupERviSORY BOARd 12 ExECuTivE OFFiCERS 13 ORGANiZATiONAl STRuCTuRE 15 SEC GOvERNANCE 23 ECONOMiC ANd CApiTAl MARkET REviEw 31 SEC STRATEGiC plAN

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction

remaining strong.  Rotterdam PTA expansion required a tie-in shutdown lowering PTA production by 45KT. European market is displaying strength which continues in 3Q17 therefore the doubling of PTA output to