E_1 Legal_FA_2015_12_29-c A FFeeCCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended September 30, 2017 The Thai economy maintained steady growth in the 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 fragile, others remained mired in uncertainty in terms of new modes of competition, a broader market...

well as the expected boost from spending leading up to the elections slated in 2018. For 2017/18 as a whole, we reiterate our revenue forecast for the VGI Group at THB 4,000mn. ………………………………….. Chitkasem

election slated in November 2020. Even though tension over the US-China situation eased somewhat after Phase One of a trade deal was reached in mid-January 2020, the details of any further negotiations are

E_1 Legal_FA_2015_12_29-c A CCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended June 30, 2017 The global economy in the second quarter of 2017 maintained its growth momentum. Similarly, Thailand’s major economic indicators continued to exhibit growth, as evidenced by brighter exports, government spending and private spending on certain items of durable goods. The Thai economy hence showed ongoing improvement from the first quarter. Nonetheless, the...

decreased was mainly from GHECO-One Power Plant operated only 48 days mainly due to scheduled major maintenance resulted availability of power plant decreased from 91.2% in 1Q2018 to 50.3% in 1Q2019

planned reflected stable growth from both volume and price  Share of Profit (Power Business) increased 241.1% YoY from 2Q2016 and 173.5% QoQ from 1Q2017 to record at Baht 685.9 million: 2 - GHECO-One back

milion, a 9.1% increase YoY as planned reflected stable growth from both volume and price  Share of Profit (Power Business) increased 166.4% YoY from 3Q2016 to record at Baht 553.8 million with foreign

increase in demand of existing customers.  Raw Water sales volume decreased from 4.33 million cubic meters in 3Q2017 to 4.27 million cubic meters in 3Q2018, or decreased by 1% mainly from planned

until the accomplishment of the full installed capacity as planned of which it is scheduled to be completed by the end of 2024. However, the Joint Venture is under the further negotiation with the joint

, a 11.4% increase YoY as planned reflected stable growth in volume  Share of Profit (Power Business) increased 162.9% YoY from 1Q2017 to record at Baht 659.2 million with foreign exchange gain of Baht