Ratchadamri Hotel Bangkok, ASAI Chinatown and Baan Dusit Thani. For the last quarter of 2019, the Company remains positive towards Food Business and Other Businesses as the new investments started to have

two malls will undergo leasable area expansion for new tenants and expansion of existing shops, as well as incorporating various destination concepts, such as Food Destination and Co-working space, to

บริษัท เอน็ซีแอล อนิเตอร์เนชั่นแนล โลจสิตกิส์ จ ำกัด (มหำชน) NCL INTERNATIONAL LOGISTICS PUBLIC COMPANY LIMITED ที่ NCL-M 04/61 วนัท่ี 20 กมุภาพนัธ์ 2561 เร่ือง ค าอธิบายและวิเคราะห์ของฝ่ายจัดการของ

ก () (LPN https://market.sec.or.th/PUBLIC/MRAP/MRAPFile.aspx?FILESEQUENCE=0&FUNDNAME=TISESG&FUNDCOMPRUNCODE=MF... 22012327.pdf ., manufacturing, property , and logistics. EBITDA expands in low-single

of rice 374 253 121 47.9% Food Centre 84.6 92.9 (8.3) -8.89% Less intercompany balance (167) (119) (48) 40.3% Revenue from sales 458.8 345.8 113 32.7% ⚫ As a results of downturn in economics condition

15th Floor, Regent House Building, 183 Rajdamri Rd., Lumpini, Patumwan, Bangkok 10330, Thailand. Tel.: +66(0)2253-5232-3 Fax.: +66(0) 2070-0733 Email: info@foodanddrinks.co.th ( ) Food and Drinks

์จ ำ กดั (มหำชน) Food and Drinks Public Company Limited 1 | P a g e February 27, 2020 Subject: Management discussion and analysis of the operating results for the year 2019 Attn: President The Stock

government contract (G-G) 46% to 102 million baht. Moreover, Not only declining in export market 38% to 60 million baht but also domestic market of 16% to 381 million baht. o Restaurant and food service

2017 of 236 M THB or11%, mainly are from o Declining in average price per unit of finish goods and raw materials. o Declining in G-G contract of 224M THB. o Declining in sales of Restaurant and food

(มหำชน) Food and Drinks Public Company Limited 1 | P a g e February 28, 2017 Subject: Management discussion and analysis of the operating results for the year 2017 Attn: President The Stock Exchange of