including utility bills and tax campaign which temporarily stimulated the private consumption. Nonetheless, inherent risks lay in structural challenges such as high household debt, delayed government budget
quarter of year 2024 6 the postponed 2024 budget. While demand for new vehicles remains solid, it is currently delayed due to stricter financing options. It’s important to emphasize that the company
problems from delayed projects and unexpected budget allocation of Government Projects. Expansion to private sector will result diversification of risk from variety of customers and source of income and cash
additional support from the government project. Meanwhile, government spending remains the main supporting factor for the Thai economy even in this quarter slowed down as the delayed in budget disbursement. As
2020 MD&A 6 We are seeing a trend in industry that due to poor margin number of cracker, PO/MTBE projects have been delayed to conserve cash; this will help to restore the margin to replacement
redundancy, and to save cost and expense in the long term. The Company has also adjusted CAPEX plan and delayed the new investments, for example, the JV with ORI, the JV with MPIC, and the luxury villa
COVID-19 since the beginning of 2020, the expansion of overseas franchise Index Living Mall stores has been delayed by 1-2 quarters but still expected to be completed this year, when the situation of