October 30, 2020 Subject: The Management Discussion and Analysis for the year ended 31st December 2019 To: President The Stock Exchange of Thailand Well Graded Engineering Public Company Limited (“the

Company had total liabilities of 15,712.9 million Baht, an increase from the end of 2018, equal to 973.4 million Baht or 6.6 percent, due to the increase in debentures issued by companies in the group

margin decreased by 3 percentage points to 7% in 2019 from 10% in 2018. SGA expenses decreased by 2% [THB 19m] due to reduced SGA expense at the Jiaxing plant. Payout Analysis For the year 2019 the company

) . Due to the Group started recognizing interest expenses on loans from the NFPT- Phase1, Bang Pa-in – Phichit and the interest expenses of debentures No.1/2020 of the company. While the interest arising

Q3/2018’s Baht 3 million. This is due to the investments made in Unimit Engineering Myanmar. Costs and Expenses In Q3/2019, the company and its subsidiaries’ cost of goods sold and operating expenses

0.96 million baht or 2.56% due to increasing in operational efficiency and cost control. • The Company has no financial expenses due to having no any loans from financial institutions. Profit (Loss

. Although, the past 6-month performance of the Company suffered a loss of 15.98 million baht which mainly due to the special cost of share acquisition in Malaysia in Q1/18, but the Q2/18 earnings show that

baht. Although, the past 6-month performance of the Company suffered a loss of 15.98 million baht which mainly due to the special cost of share acquisition in Malaysia in Q1/18, but the Q2/18 earnings

the Company still suffered a loss of 2.22 million baht which mainly due to the special expense of share acquisition in Malaysia in Q1/18.  As the Company has increased sales, it has resulted in better

OHTL Public Company Limited and its subsidiaries Management Discussion and Analysis for the second quarter ended 30 June 2020 (Unit: Thousand Baht) 2020 2019 Increased/ (Decreased) Room revenue 337