from supply and maintenance grows at 32.64% deriving from the strong capability of the Company to maintain its customer bases as well as new maintenance projects awarded to the Company. Other Revenue In

uplift on unlimited data plan.  Fixed broadband revenue was Bt1,785mn, increasing +21%YoY and +6.1%QoQ due to strong subscriber growth offsetting by lower ARPU due to low price offering in the market to

financial position remains strong with low debt-to-equity ratio and high current ratio. Global Green Chemicals Public Company Limited Management Discussion and Analysis | 3 10% 90% 1Q2019 41% 59% 1Q2018 444 8

-term investment amounted to THB 4,038 million; with total liabilities of THB 3,762 million; and total equities of THB 9,080 million. In this regard, The Company is still in a strong financial position

investment amounted to THB 3,890 million; with total liabilities of THB 3,528 million; and total equities of THB 9,265 million. In this regard, the company remains strong in a financial position with low debt

the previous year, mainly due to the sharp lower of purchasing power in most industries, as well as the strong competition in the stainless steel pipe, aluminum and copper. This caused the decreasing in

important part in laying a strong foundation for the Company to be able to drive sustainable future growth.

strong with low debt-to-equity ratio and high current ratio. P a g e | 3 - Management Discussion and Analysis 1Q2020 - 4,346 1,714 2,942 881 1,102 900 83% 17% 61% 39% 77% 23% 1Q2020 1Q2019 4Q2019 2,816

coverage ratio (DSCR) remained strong at 5.59 times.

also later opened up to all employees. Maintaining a strong liquidity position has been 2 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02