is likely leaving its mark on the Thai economy. Private consumption growth moderated noticeably in Q1 while private investment fell, reflecting dampening domestic demand. Manufacturing output

construction. 2 The Company and its subsidiaries’ revenue from the sales of goods are mostly revenue from domestic sales. For the year ended 31st March 2019, the Company and its subsidiaries had revenue from

domestic demand continued to expand driven mainly by improving of agricultural sector and government measures to support low-income households. As of May 31, 2019, the Company’s total cards reached 8.63

services and in this year, the Company has increased consultant fee for 2.24 million baht from providing consulting services on domestic transportation operation and received dividend income from associated

and we are seeing some volumes repatriated on the Thai market increasing domestic competition. Golden Lime Public Company Limited 4 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 30 JUNE 2019 3

, MACO has proven its solid domestic credentials with a total network of over 2,000 locations nationwide, and is now well- positioned to capture the growing demand for outdoor advertising in Thailand

construction. The Company and its subsidiaries’ revenue from the sales of goods are mostly revenue from domestic sales. For the year ended 31st March 2018, the Company and its subsidiaries had revenue from

merchandise exports which continued expand with a growth 13.1% consistent with global demand growth and continual increase in crude oil prices. Domestic demand robustly expanded by private consumption which

measurements, global lockdown, and international travel restrictions that led to the collapse of tourist arrival numbers. Plus, Thai export and import slumped on the weak demand which dampened domestic economic

1st quarter of 2021, as follows: Business Overview The Thai economy in the first quarter of 2021 was pressured by the domestic COVID-19 situation that impacted the country’s economic recovery momentum