1.21 times due to higher sales. The collection period decreased from 82 days to 75 days. For a debtor with debt problem, the Company has set aside allowance for doubtful accounts. Inventory turnover

Limited 4 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 31 MARCH 2020 3. Financial highlights (based on Thai FRS) Q1 2020 Financial Position Summary as of 31 March 2020 compared to Q1 2019: Note

the increase of interest-bearing debt. Please be informed accordingly Sincerely yours, (Mr.Suriya Poolvoralaks) Executive Director and Managing Director

million baht decrease (1.83) million baht or (28.48%) because in the year 2019, the company has income from the compensation. 4. Bad debt and doubtful accounts (reversal) in the amount of 14.92 million baht

established policy for setting provision or allowance for doubtful debts which is based on the analysis of accounts receivable aging and assessment of past debt collection experience. Accordingly, the Corporate

348.8 MB respectively, equivalent to 50.8% and 63.8% respectively of the total Liabilities. Current Liabilities as of year 2019, mainly due to an increase of debt under trust receipt. 2. Non-current

expenses equal to 636.7 million baht, 12.8 % increasing. This is due to the allowance of provision in distress debt management business and personal loan business. Finance Cost The company had total

debt. As of November 30, 2020, the Company’s total cards reached 9.11 million cards, including 2.91 million credit cards, and 6.20 million-member cards. The Company has active customers more than 2

lower marketing campaign and activities amid the pandemic.  Admin & other expenses were Bt3,908mn, decreasing -12%YoY from significant decline in bad debt provision, but slightly increasing 1.5% QoQ. 4

instruments where applicable. Finance cost was Bt1,320mn, decreasing -4.8% YoY and -3.4% QoQ from lower interest-bearing debt. The average cost of borrowing remained stable at 2.6% per year. Profit In 1Q22