concerning Rules, Conditions and Procedures for Establishment and Management of Infrastructure Fund, or the Notification of the Capital Market Supervisory Board concerning Rules, Conditions and Procedures for

Capital Market Supervisory Board No. TorThor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to Clients of Securities Companies and Derivatives

remuneration; (2) scope of power and duty as assigned by the trustee in the following matters: (a) the management of the REIT regarding business operation which includes investment, borrowing and incurring

1 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 10 August 2020 No. ZEN 2563-016 Subject Management Discussion and Analysis for the

decreased significantly in comparison to the previous year as a result of decrease in number of management and administrative staffs as well as a decrease in marketing expense. Asset impairment and loss from

business decreased significantly in comparison to the previous year as a result of decrease in number of management and administrative staffs as well as a tighter control of marketing budget. Asset

, Retail Cube Building to King Power MahaNakhon Co., Ltd., as well as the purchase of preferred shares from investment partners in PP1 and PP3; investments in joint ventures decreased to 6,435 million Baht

that bolstered purchasing power. Government expenditure also plays important role in sustaining the economy with fixed expenses continuing to expand in comparison to the same period last year, especially

the Expressway Authority of Thailand, and the construction project of three power stations according to the transmission and distribution system development project of the Provincial Electricity

of Securities Issuers. 4 Chapter 2 Power of the SEC Office _____________________ Clause 9 In the case where it appears to the SEC Office a fact causing any of the following suspicious grounds, the SEC