increased. The significant decrease of total debt to total equity ratio of the Company was due to the ability of revenue recognition from The Ritz-Carlton Residences, Bangkok (“RCR”) which is a part of

times. Also, interest bearing debt to equity ratio was reduced positively at 3.6 times. This was due to the fact that net loans decreased while shareholder equity increased. The significant decrease of

lower marketing campaign and activities amid the pandemic.  Admin & other expenses were Bt3,908mn, decreasing -12%YoY from significant decline in bad debt provision, but slightly increasing 1.5% QoQ. 4

shareholder equity was increased The significant decrease of total debt to total equity ratio of the Company was primarily due to the ability to transfer and to recognize revenue from The Ritz-Carlton

Company has been able to maintain financial liquidity, so there is no significant impact of COVID-19 on debt obligations. Meanwhile, the Company has taken stringent measures to manage and control its costs

) Significant items included the earning statement, as follows a) interests and dividend arising from the investments in debt and net equity securities; b) total amount of returns arising from selling each

discount of a debt instrument. (5) Significant items included the earning statement, as follows a) interests and dividend arising from the investments in debt and net equity securities; b) total amount of

such instrument in the same manner as decreasing surplus or discount of a debt instrument. (5) Significant items included the earning statement, as follows a) interests and dividend arising from the

Global and Thai Economy in the Third Quarter of 2019 1 1.2 Banking Industry and Competition 2 1.3 Significant Regulations and Rules related to Business Operations 2 2. Risk Management and Risk Factors 5

? demands. This is to ensure that debt securities will continue to be a key product of choice for fund mobilization, while investors are better protected.  Assistant Secretary?General Charuphan Intararoong