FX losses was only accounting implication and did not affect the Company’s cash flow or its operating performance. • Finance costs decreased by 26.1%, mainly from significant decrease in cost of fund

and Buildings since such Land and Buildings do not have a very large area, and the Company does not optimize the use of it. Such disposal of assets does not have significant impact on the Company’s core

in 31 December 2017. Current ratio as of the same date and period stood at 2.42x, a considerable improvement from 1.69x, both mainly as a result of the aforementioned capital increase SIGNIFICANT

the THB that affected the value of the Company’s overseas assets. • Net debt to equity ratio as of 31 December 2019 stood at 0.48x, an improvement from 0.55x in 31 December 2018. SIGNIFICANT EVENTS

resulted in travel restriction, lockdown and other precautionary measures imposed in various countries including Thailand. This outbreak has brought significant economic uncertainties in Thailand and markets

end of the first quarter this year stood at 0.98x, an increase from 0.48x in 31 December 2019 1Q 2020 SIGNIFICANT EVENTS New financial reporting standards that became effective in the current period 1

overseas assets • Net debt to equity ratio at the end of 2Q 2020 stood at 0.98x, an increase from 0.48x on 31 December 2019 2Q 2020 SIGNIFICANT EVENTS Impacts of Coronavirus Disease 2019 (COVID–19) COVID-19

2,516.29 million, respectively. Management Discussion and Analysis For the Three-month and Six-month Periods Ended 30 June, 2020 Page 3 1. Significant Events of the 2 nd Quarter of 2020 Thanh Phong Wind

strategic move by combining Central and Robinson department store. The business synergy will give the combined department stores a significant acceleration to become more customer- centric, as well as to

was temporarily closed; only take-home order was allowed at branch March 22nd Partial Bangkok lockdown 1H/2020 Significant Events After You launched 4 Seasonal Menus during H1/2020 After You has been