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

management of the State Railway of Thailand, etc. The total operating expenses in Q1– 2023 decreased by 25. 3% , which was a decrease in line with the decreased revenue compared to Q4–2022, in which those

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Third Quarter and Nine-Month Period Ended 30 September 2018 1. Q3/2018 Highlights Figure 1

, investing in Target Group Hotels and Resorts by directly and indirectly hold shares of operating companies who are the owners of Target Group Hotels and Resorts (1) Hillview Limited The company owns and

V2 08/11/60 16:47 น. 0 V2 08/11/60 16:47 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Thai Economy in the Third Quarter of 2017 The Thai economy in the third quarter of

1 - Translation – Bor.Chor.Ngor 0078/2018 March 30, 2018 Subject: Connected transaction (renew the property management contract) and the allocation for legal reserve Attn : President The Stock

million from the first half of 2018, due to lower gains on investments and other operating income, mainly from the recognition of profit sharing from the management of impaired assets by Thai Asset

83mn, decreasing by 21.7% or THB 23mn, mainly due to lower revenue from Bangkok Smartcard System Co., Ltd.’s system and project management fees. The growth in the operating business is also reflected in

LIMITED No. NCL-M 22/17 Aug 10, 2017 Subject: Management Discussion and Analysis of Financial Positions and Operating Results of NCL INTERNATIONAL LOGISTIC PUBLIC COMPANY LIMITED and subsidiary for 6 months

- No. LMJG/SET/2020/019 August 10th, 2020 Subject: Clarification for the change of Operating Results more than 20% Attention: The President The Stock Exchange of Thailand Effects of the COVID-19