Thailand Absolute Clean Energy Public Company Limited (“the Company”), are pleased to provide you our management discussion and analysis for the year ended 31 December 2020 of the Company and the

Global Power Synergy Public Company Limited (GPSC) (‘company’) have finished the Rights Offering process of Baht 74,000 million and has allocated the not exceeding 1,321,428,571 newly-issued ordinary

Notification of the Capital Market Supervisory Board concerning Investment of Funds; “management company” means a securities company that is licensed to undertake securities business in the category of mutual

business sector, especially for Cloud products and ICT solutions, increased 30% YoY. The cost of services rose 2.4% YoY, mainly due to the increase in content costs in line with the business direction of

percent, as well as reducing and postponing CAPEX spending by 15 percent. As for liquidity management, the company established measures for credit line approval, closely monitoring and collecting customer

could be attributed to increase in impairment loss on loans and debt securities in line with non-performing loans to total loans, which remained at a high level. Net fees and service income – one of

) AAPICO HITECH PUBLIC COMPANY LIMITED Ref No: AH 02082023 August 11th, 2023 Subject: Management Discussion & Analysis (MD&A) for the Financial Statements of the 2nd Quarter of Fiscal Year 2023 Ended as of

acquisition of Glow Energy Public Company Limited (“GLOW”) in December 2019, the Company holds 99.83 percent of GLOW's total issued and sold shares, therefore in Q1/2020, the company recognizes the full

efficient management of risks, in line with the good corporate governance principles. Provisions in the Notification No. Sor Thor. 37/2559 Clause 5 An intermediary shall establish a documented policy on the

and efficient management of risks, in line with the good corporate governance principles. Provisions in the Notification No. Sor Thor. 37/2559 Clause 5 An intermediary shall establish a documented