from “After You” Hongkong, Initial franchise fee and royalty fee from “Mikka” sales • *Actual franchise fee recognized in Q3/2020 was THB 0.75 million Management Discussion & Analysis Q3/2020 • Revenue

100 – 500 MB. In this regard, the large projects in which the Company has recognized revenue in 2020 such as The New Parliament Project in Information and Communication Technology, The Purchasing and

decrease in deferred income tax. • Land, Property and Equipment increased by THB 4 million mainly due to the value of investment in expanding branches is higher than the depreciation expense recognized

started production yet. Purem AAPICO reported launch cost during this pre-operating period while revenue will be recognized once start production in September and December 2023 for Malaysia and Thailand

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

management under the supervision of the Enterprise Risk Management Division, Market Risk Management Sub-committee and Risk Management Committee, to maintain risks within prudent limits. 2.3 Liquidity Risk

ลงทุน ฝ่ายกลยุทธบ์ริหารการลงทุน, บลจ. กสิกรไทย จ ากดั - Assistant Manager (Finance and Control Division), Treasury, บมจ.ธนาคารกสิกรไทย - Senior Officer (Global Business Division), Financial Planning

million which is the normal dividend payment cycle of RPCL. Meanwhile, in Q2/2017 the company recognized a compensation of Baht 66 million from the insurance company for the gas turbine of Rayong Central

recognized income according to the construction contract from the constructor of IRPC-CP Phase 1 for Baht 66 million as the company did in Q3/2017. When comparing the net profit of Q4/2017 to Q4/2016, it

. As a result, the Company recognized gain on bargain purchase from such transaction in the amount of THB 269.92 million. 2.7 The effect of exchange rate of the Company and its subsidiaries In the year