Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 15 Executive Summary CPN’s revenues continues to grow according to its business plan. In 1Q19, the Thai
and according to target. In 3Q19, growth in the Thai economy decelerated primarily driven by a decline in export growth from world-trade sluggish effecting from Trade War. However, the Thai economy is
(UNOFFICIAL TRANSLATION) Codified up to No.12 As of 6 August 2018 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference
over acquisition cost). This is to confirm our ability to purchase NPLs and NPAs at a favorable price. The key major event in the year 2019 was the company’s initial public offering though the Stock
TRANSLATED VERSION As of August 27, 2014 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. 37 Notification of the
Governance Project" of the Securities and Exchange Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between
Airways Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the third quarter of 2019 ended 30 September 2019 Executive Summary Thai economy in the third quarter of 2019 was
(UNOFFICIAL TRANSLATION) Codified up to No. 5 As of 8 December 8 2016. Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for