increased downside risks from external factors such as uncertainty in the U.S. economic policies may affect international trade, the slowdown of the Chinese and the EU economies and etc. According to the Bank

appliances. Therefore, the Company has allocated resources and services to facilitate and support consumer’s needs and provide products promptly amid the uncertainty and constrained situation. Financially, the

2018 primarily due to the US-China trade war and global uncertainty contributed negative impact on export growth. The growth of credit card business in Thailand continue expansion due to overall economic

private consumption and total investment were constantly expanding. However, Thai economy still faces external risk such as U.S. monetary and trade policy and global economic uncertainty. As of August 31

public consumption and private investment were constantly expanding. However, Thai economy still faces other risk such as The U.S.-China trade war, global economic uncertainty and domestic political

introduce several variables intended to control for the firm’s specific characteristics and other macroeconomic shocks and uncertainty. ❑ Following prior literature on political risk and firm value, we

from 2.3% in the second quarter of 2019, mainly driven by expansion of private consumption, government spending and tourism sector. Meanwhile, exports sector continued to contract caused by uncertainty

slowed down. In addition, Thai economy still faces external risk such as trade war between US and China and global economic uncertainty. As of August 31, 2019, the Company’s total cards reached 8.75

affect from a government adopting a more restrictive lockdown measures in dark-red zones and uncertainty surrounding the COVID-19 situation that will hinge mainly on the rollout of vaccines in order to

economic uncertainty caused by the trade war between US and China, the conflicts in the Middle East and the unpredictability of the political situation in Europe. These factors have impacted to Thailand