economic downturn and the outbreak of COVID-19 pandemic. Net Profit and Net Profit Margin • The Company reported net profit in Q4/2020 and 2020 of THB 17 million and THB 55 million, respectively, decreased

chain disruptions as economic activities in China were put on hold. The disruption of activities in industries affected by the Covid-19 outbreak, combined with the curfew’s curtailing of business

ended 31 July 2017, INGRS had sales revenue of THB 1,336.05 million, a decline by 6.13% from the 6-months period ended 31 July 2016 of THB 1,423.28 million. Such sales revenue decline was contributed

amounting of 3,029.84 Million Baht or 388.85 Million Baht increased when compared to December 31, 2017 of 2,640.99 Million Baht as cash and cash equivalents decline of 44.33 Million Baht, more temporary

THB 325 million in correspondence to the group’s asset restructuring. Without this non-recurring gain, total revenue was THB 5,245 million, a 3.3% decrease from 2016. The decline was attributable to the

from the slow economic growth of trading partners, the protectionist trade policies between the US and China and the down-cycle of electronic products. In the tourism sector, the number of tourist

decreased as a result of the decline in retail and wholesale sales. 2 I 9 Management Discussion & Analysis 2023 Nevertheless, some channels had an increase in sale revenue which include (1) Commercial sales

Page 4/22 Economic Overview and Competition among Commercial Banks In the first quarter of 2020, Thai economy highly contracted from the same period last year as the COVID-19 pandemic has caused

expanded at a slower pace compared to the previous quarter, with merchandise exports contracting as global trade weakened, resulting in a decline in domestic industrial production. Meanwhile, tourism

past collection history, aging profile of outstanding debts and the prevailing economic condition. The management believes that allowance for doubtful accounts is adequate in the current circumstances