maturity date within 1 year, unless such condition has been waived by the SEC Office; 2. financial lease contract which a securities company, as lessee, would be able to terminate the contract before the

has been waived by the SEC Office; 2. financial lease contract which a securities company, as lessee, would be able to terminate the contract before the maturity date without the condition to buy leased

Thailand The Meeting of the Board of Directors of KGI Securities (Thailand) Public Company Limited (“the Company”) No. 3/2020, held on 7th May 2020, has approved the reviewed financial statements including

and dividend payment. As at 31 December 2019, interest-bearing debt amounted to Bt94,184mn with debt to equity ratio of 1.36 and net debt to EBITDA of 0.92. Therefore, the company has strong capital

to lower bad debt provision while decreasing -11%QoQ due to some seasonal staff-related expenses. Net FX loss was Bt223mn, turned negative, compared to FX gain of B263mn in 4Q20 due to THB depreciation

declined -2.7% mainly from decrease of long-term lease liabilities and spectrum license payable. Interest- bearing debt stood at Bt87,190mn, decreasing slightly by -0.7%. Net debt including lease liabilities

accounts decreased by 42.6%. due to the allowances for bad debt and doubtful accounts of the bank are adequate with the Bank of Thailand’s guidelines. LH Financial Group Public Company Limited Management

current ratio was at 2.4 times, as the Company had a large amount of cash and current investments from IPO proceeds. Debt to equity ratio was at 0.3 times. Osotspa Public Company Limited Q1’19 Management

13 19 Total 459 472 Allowance for doubtful debt 31 85 MANAGEMENT DISCUSSION & ANALYSIS 2Q 2020/21 ENDED 30 SEPTEMBER 2020 09 NOV 2020 MASTER AD PUBLIC COMPANY LIMITED 5 13 May 2019 LIABILITIES AND

Company determines to maintain an optimal capital structure by lowering leverage level which will ultimately reduce debt ratio. Unit: THB million 31 December 2018 31 December 2019 Change Cash and cash