affected by the COVID–19 outbreak. However, the Company’s revenues generate from large projects that have continued its operation since 2019. Moreover, most of the customers are government agencies and state
projects of the government and state enterprises have slowed down and increased more competition in the market. The majority of the Company's revenue recognized in 2023 comes from government and state
referenced crude oil price of every products; stemming from a state of excess supplies of finished products in the market, and declining demand from the 4 Management Discussion and Analysis of Business
- depletable energy sources and has a lower impact on the environment than fossil energy; (6/1)1 “state” means: (a) government administration; (b) government organization under the Law on Establishment of
sources and has a lower impact on the environment than fossil energy; (6/1)1 “ state ” means: (a) government administration; (b) government organization under the Law on Establishment of Government
the transaction, NU will ceases to be a subsidiary of the Company. Nation U Co., Ltd. (NU) Owner and operator of Nation University, which running the Education Business Unit, offers Bachelor’s Level and
Nation U Company Limited Registered Number 0105554027538 Type of Business Operate the business in relation to the education, having license to form the Nation University, having Bachelor and Master degree
to provide education on company products of Vanachai Group, to be product center of Vanachai Group for distribution, and to be employees office of Vanachai Woodsmith Company Limited. To process this
management in Thailand and worldwide, has operated into 5 business including Hotel Development, Education, Real Estate Development, Food and others. There are 4 brands for hotel and resort under DTC including