LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q1/2018 2 2. ECONOMIC SITUATION Thai economy in Q1/2018 continually expanded, supported by every economic engine especially merchandise exports, which were

DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q2/2018 2 2. ECONOMIC SITUATION Thai economy for the 5 months ended May 2018 continually expanded, supported by

(FSMART) 1Q2020 Management Discussion and Analysis 2020 Management Outlook The Covid-19 pandemic has affected economic condition worldwide including Thailand, which severely decrease revenue of both

excessive volatility in the global financial markets. The COVID-19 pandemic presents unprecedented challenges for our community and situation is evolving every day. Central Retail Corporation Public Company

reasonable and will eventually increase Company’s profitability and benefit to obtain stronger financial condition of the Company. Thus, the Board of Directors has approved the receipt of financial assistance

assistance is reasonable and will eventually increase Company’s profitability and benefit to obtain stronger financial condition of the Company. Thus, the Board of Directors has approved the receipt of

million baht or 47.3 percent. Mainly due to the overall economic slowdown from the crisis situation from the epidemic of the Covid-19 virus, resulting in a reduced advertising expenditure in print media and

2019. The reason for the decline of expenses, because during the Convid-19 situation, the Company has a policy for employees to work from home, including the reduction of salary and benefits as well

Syndicate Co., Ltd., a subsidiary of Company, has invested in World Education Loan Services and the down on inventories resulting from the impact of COVID 19 situation that prevented us from importing raw

same period of the last year which showed 14.47 million Baht, which was mainly caused by COVID-19 situation. Cost of Goods Sold/service and Gross Profit Margin The company recorded cost of goods sold of