December 2018 before retrospectively adjust was THB 14,329.7mn and after the retrospectively adjust was THB 14,376.4mn, an increase of THB 46.7mn. 2) the total shareholders’ equity as of 31 December 2018

adjust the assumptions for cash flows projections of those subsidiaries to calculate the recoverable amount appropriately, and to consider the adequacy and appropriateness of the impairment loss for

customers, has been pressured by high household debt. Therefore, spending expenses are carefully controlled. Notwithstanding, the entrepreneurs in retail industry have to adjust themselves to increase the

had to be closed according to government policy. But the company was able to adjust to its profitable operating results this quarter details as follows: Management Discussion and Analysis Q2/2020 Page 3

Company Limited had income for the 9 months period decreased from the previous 0.59 %, but the gross profit increased from the previous year 6.85 %. due to the company tried to control costs and adjust

delivered income thus also resulting from company has concentrate on cost management  Cost of distribution as amount of 6.42 Million Bath as 3.66 Million Baht decreased or 36.29 percent when compared to same

(Million Baht: MB) (MB) % (MB) % Revenue from Sales and Service 2,179.9 1,137.4 1,745.2 1,042.5 91.7 434.7 24.9 Cost of Sales and Service 1,820.0 909.4 1,516.0 910.6 100.1 304.0 20.1 Selling and distribution

party's manufacture 2/ 228 149 (79) (34.8) 464 288 (176) (37.9) 3rd party's products for distribution 246 315 69 28.1 515 606 91 17.6 Total domestic product group 1,974 1,984 10 0.5 3,761 3,686 (75) (2.0

the transaction, Modern Company must adjust its business structure by buying out land and factory buildings as well as adjust all existing assets and liabilities of the company except tools, machinery

. The New Normal will also make the Company to adjust its strategy to implement its 3 business groups faster. For the Online Top-Up & Payment Business, the Company continually focuses on adding new