(3) decreased financial expenses. Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 Analysis of Financial Position Assets As of 31

Central Retail Corporation Public Company Limited Page 1 20 February 2020 Re: Management Discussion and Analysis Operating results for the year ended December 31, 2018 To: President The Stock

total assets. 5 | P a g e Pace Development Corporation Public Company Limited 87/2 CRC Tower All Seasons Place, 45th Floor, Unit 4, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel. 66 2 654 3344 Fax

ASSETS PUBLIC COMPANY LIMITED MIDA LEASING PUBLIC COMPANY LIMITED MILLCON STEEL PUBLIC COMPANY LIMITED MILLENNIUM GROUP CORPORATION (ASIA) PUBLIC COMPANY LIMITED MILTIBAX PUBLIC COMPANY LIMITED MINOR

ASSETS PUBLIC COMPANY LIMITED MIDA LEASING PUBLIC COMPANY LIMITED MILLCON STEEL PUBLIC COMPANY LIMITED MILLENNIUM GROUP CORPORATION (ASIA) PUBLIC COMPANY LIMITED MILTIBAX PUBLIC COMPANY LIMITED MINOR

ASSETS PUBLIC COMPANY LIMITED MIDA LEASING PUBLIC COMPANY LIMITED MILLCON STEEL PUBLIC COMPANY LIMITED MILLENNIUM GROUP CORPORATION (ASIA) PUBLIC COMPANY LIMITED MILTIBAX PUBLIC COMPANY LIMITED MINOR

ASSETS PUBLIC COMPANY LIMITED MIDA LEASING PUBLIC COMPANY LIMITED MILLCON STEEL PUBLIC COMPANY LIMITED MILLENNIUM GROUP CORPORATION (ASIA) PUBLIC COMPANY LIMITED MILTIBAX PUBLIC COMPANY LIMITED MINOR

ASSETS PUBLIC COMPANY LIMITED MIDA LEASING PUBLIC COMPANY LIMITED MILLCON STEEL PUBLIC COMPANY LIMITED MILLENNIUM GROUP CORPORATION (ASIA) PUBLIC COMPANY LIMITED MILTIBAX PUBLIC COMPANY LIMITED MINOR

ASSETS PUBLIC COMPANY LIMITED MIDA LEASING PUBLIC COMPANY LIMITED MILLCON STEEL PUBLIC COMPANY LIMITED MILLENNIUM GROUP CORPORATION (ASIA) PUBLIC COMPANY LIMITED MILTIBAX PUBLIC COMPANY LIMITED MINOR

ASSETS PUBLIC COMPANY LIMITED MIDA LEASING PUBLIC COMPANY LIMITED MILLCON STEEL PUBLIC COMPANY LIMITED MILLENNIUM GROUP CORPORATION (ASIA) PUBLIC COMPANY LIMITED MILTIBAX PUBLIC COMPANY LIMITED MINOR