being a financial institution under the Law on Loan Interest of Financial Institutions or a financial institution under foreign law; (2) an agreement having characteristics comparable to the assets under

well by 42.98 million Baht because in 2 0 1 6 , the company had to pay for the excess amount of water drawn from Bangpra that exceeded the quota permitted through an agreement with Royal Irrigation

1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 30 June 2020 Bangkok Airways Public Company Limited and Its Subsidiaries Bangkok Airways Public Company Limited and

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the First Quarter ended 31 March 2020 1. Q1/2020 Highlights Figure 1: Quarterly results  In Q1/2020

-0.06 22.22 Profit(Loss) attributable to equity holders of the company -59.81 -130.55 70.74 54.19 Financial Position as at December 31 (Unit : Million Baht) 2017 2016 Inc./(Dec.) % Current Assets 305.00

comprehensive loss for the period -13.73 -7.62 -6.11 -80.18 Non-controlling interests of the subsidiaries 0.05 0.06 -0.01 -16.67 Profit(Loss) attributable to equity holders of the company -9.41 -9.64 0.23 2.39

sales staffs, advertising media fee for product promotion, distribution fee paid to Zuellig Pharma Ltd. under the Distribution Agreement and compensation for distribution of company’ s products in the

relatives during six months before the date of agreement to enter into this transaction. This transaction size is more than three percent of the value of the net tangible assets of the Company, calculated

No. ECF2 035/2562 23 September 2562 Subject Notification on the resolutions of the Board of Directors’ Meeting approving the purchase of the ordinary shares in KPN Academy Company Limited, the

Company Limited and its subsidiaries (Hereinafter called “The Group”) would like to submit Management’s discussion and analysis for the Quarter 2’ 2018 with the summary as follows: - 1. Nature of operations