economic slowdown resulting in declining export and plunging tourists’ spending especially Chinese tourists. The instability in Thailand politic and election in March 2019 slowed public investment. High
help offset declining tourists from China. Amidst political instability and the expected Presidential and Parliamentary election in 2018 and 2019 respectively, the Company is confident in its ability to
temporarily. For private investments, that decreased from the same period of last year in all sectors from instability of the economy, except for ongoing projects of improvement, maintenance and automation
geopolitical tensions, including instability in the Middle East. Additionally, rising electric vehicle (EV) sales in Thailand, largely imported as complete built units (CBUs) from China, have reduced the demand
structural change in the business outlook of PET, and is an oppor- tunity for well-managed and committed PET producers like IVL to align supply reliability to customers. We benefitted from the instability
reduction of risks of the loss arising from instability of utility systems for the industrial users. 7.5 The Company will be able to effectively improve the overall operating performance (operation synergy
areas in which the Company provides services, resulting in the reduction of risks of the loss arising from instability of utility systems for the industrial users. 7.5 The Company will be able to
political, economic and currency risks and differences in accounting methods. Investing in emerging markets may entail special risks relating to potential economic, political or social instability and the