1Q22 MD&A Advanced Info Service Plc. Executive Summary Prolonged economic impact from Omicron outbreak and rising inflation in 1Q22 In 1Q22, Thailand’s economic recovery was challenged as private
compensation from NBTC partially covered revenue loss. After gradual lifting of lockdown in late May-20 and economic activity slowly resumed, there were pent-up demand led to rebound in new acquisition and
easing COVID-19 situation with a rebound of foreign tourists which boosted Thailand’s economic recovery. Nonetheless, domestic demand stayed soft due to the global geopolitical conflicts that created
place more stringent customer approval criteria for commercial lending policies towards small and micro businesses, focusing on area-based strategies amid the uneven economic recovery. We also prioritize
of local businesses, their workers as well as increased household debt. Moreover, recovery on tourist and export sectors, key engines for Thai economy, still mainly depend on large scale vaccination in
contraction was -3% vs Q1 2019. This will be much worse in Q2 with a double-digit contraction, and on annualized basis, the IMF forecast for Thailand is now -6.5% in FY 2020 with a bounce back expected in 2021
remained sluggish while the new phase of outbreaks re-emerging in Dec-20 posed further challenges on economic recovery. Despite some positive development in subscriber base in 4Q20, pricing remained the key
major bounce back from the lows of 2020, reaching a high of over US$65 in March 2021. Led by China, consumer demand is booming and commodities are experiencing what some even call a super cycle, which in
(exclude spectrum) • Bt30-35bn Core service revenue is expected to grow mid-single digit In 2022, Thai economy is expected to be on a recovery path despite the uncertainty around the outbreak of new COVID-19
with its major trade partners, especially China. This factor is set to have an impact on the world’s economic recovery over the remainder of this year. The World Economic Outlook of the International