with estimated 8-10% growth of core revenue. • Plans to open 11 new hotels: In 1Q19, the Company opened 2 new hotels in the Philippines (Dusit Thani Mactan Cebu and dusitD2 Davao). Later in April, the

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

outlets. By the end of 2020, approximately 40-50 Mikka outlets are expected to be opened, and around 100 outlets are expected to be opened the following year. Despite attempts to slowdown branch expansion

Commart events in 2022 which were organized three times, compared to two times in 2021. (2) Branch expansion and renovation, which in 2022 the Company had opened 10 new branches located in shopping malls

/2023, the Company opened 2 new Luggaw branchs at the EmSphere and the The Mall Bangkae branch. Luggaw will focus on selling a variety products made from Thai fruits. In 2024, the Company plans to expand

characteristics in Group 2 under Clause 30 (4) or (5), the SEC Office shall either suspend or revoke the approval based on the ground of possessing such prohibited characteristics; 20 (3) in case of prohibited

Discussion and Analysis (MD&A) Page 2 of 16 Major Events in 2Q20 Mitigation plan for affected businesses during COVID-19 pandemic situation The Company re-opened all 34 malls in May 2020 according to

Discussion and Analysis (MD&A) Page 2 of 15 Major Events in 2Q20 Mitigation plan for affected businesses during COVID-19 pandemic situation The Company re-opened all 34 malls in May 2020 according to

level. We also had to cut costs in all areas, suspend our investment plan and reserve cash to maintain a strong finance position during the crisis. Cost of Sales and Gross Profit The gross profit margin

สามารถจ่าหน่าย จ่าย โอน ทรัพย์สินของกองทุนได้อย่างสมเหตุสมผล หรือเพื่อเป็นการคุ้มครองประโยชน์ของผู้ถือหน่วย ซึ่ง บลจ. จะไม่ขายหรือไม่รับซื้อคืนได้ เมื่อได้รับความเห็นชอบจากผู้ดูแลผลประโยชน์และให้ suspend