purchasing power that are declining, in turns the company had to launched many promotions to drive sales resulting in the decrease of average selling price. 3. Selling expenses Selling expenses in 1H19

% Management Discussion and Analysis of quarter 1 /2020 3 | p a g e Total Assets As of 30 June, 2020 the Company had total assets of Baht 7,356 million, declining from 31 March, 2020 by Baht 25 million or -0.3

with revenue from sales and services of THB 937.9 million, declining THB 308.4 million or 24.7% from the same year of the previous year. Furthermore, gross profit margin declined from 22.1% in the

caused by the declining service revenues and the higher costs of service provision. The SEC’s further investigation revealed that during 8 October 2019 - 4 November 2019, Penprapa – wife of an SQ executive

risks from internal and external factors such as severe droughts, a rise in unemployment and household debt as well as the global outbreak of the Coronavirus (COVID-19) since early 2020. However, the

-year average of 68.0 percent. Consequently, employment contracted by 0.7 percent. Private consumption slightly softened due to stagnant farm and non-farm income growth. Moreover, household debt, which

% from the previous year due to with repayment from projects with debt continuously as a result financial costs decreased. As of 31st December 2018, the Company had a Debt to Equity ratio of 1.21 times, an

which came from additional investments in investments in associated companies and fixed assets. Net cash from financing activities was Baht 1,496.09 million mainly from increased short-term debt. As a

Million Baht (losing per share 0.01 Baht) respectively due to the reason of: In the 2nd quarter of 2016 the company has recognized the doubtful debt expenses amount 159.95 Million Baht according to the

million which increase Baht 4.99 Million or 22.87% when compared to the same period of 2016. Mainly reason was the debt allowance of the quarter increased. Please be informed accordingly. Sincerely yours