during rush hour. As the recent COVID-19 outbreak resulted in the temporary closure of the sit-in service within the dessert stores, the Company recognized the important to prepare for changes that may

Financial Service Co.,Ltd. (Japan) (AFS), while the bad debt recovery which increased 13.7% year on year. The Company plans to focus more on expanding fee- based income. This strategy aims to diversify

marketable equity securities from available-for-sale securities to trading securities which were partially sold in 2019. On 27 December 2019, the Company sold partially the investment in NR Instant Produce Plc

Baht 30-Sep-19 31-Dec-18 Total Assets 28,635 30,632 Total Liabilities 19,001 20,532 Total Equity (911) 172 Minority 10,545 9,928 Gr ou p HR C Gr ou p Management Discussion and Analysis Quarter 3 Ending

vehicle segment and commercial vehicle segment by 23.6% and 24.4% yoy respectively. In the equity market, the average daily turnover (SET and mai) for 1Q20 increased by 25.8% from Baht 53,192 million in

passenger vehicle segment and commercial vehicle segment by 7.8% and 15.9% yoy respectively. In the equity market, the average daily turnover (SET and mai) for 1Q20 increased by 25.8% from Baht 53,192 million

and CLMV among the spread of green bond’s demand with international standard. Progress of Long Term Services Agreement with Siemens In October 2018, BGRIM extended the Long Term Service Agreement (LTSA

progress of 29.5% and 5.0% respectively. Both have the scheduled COD by June 2019. B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis KEY FINANCIAL HIGHLIGHT Sales and Service Income

1, 2019. Management Discussion and Analysis For the Year Ended December 31, 2019 Page 11 3.2 Analysis of liabilities and equity As at December 31, 2019, the total liabilities and equity were THB

than 5 percent of its shareholders’ equity or litigation case which may have material effect to its business operation or which is not caused by the company’s ordinary course of business. 13. Asset