in line with lower sales. Administrative expense decreased mainly as a consequence of cost control measures in place, reducing headcount, working hours and OT, and other employee expenses together with

current situation. BAC reduced 30 per cent of total employee BFS Ground reduced 70 per cent of total employee and BFS Cargo reduced 15 per cent of total employee. Management’s Discussion and Analysis

for employee benefits 5.43 5.06 0.37 7.38 Total non-current liabilities 136.52 139.11 (2.58) (1.86) Total liabilities 1,039.44 993.33 46.11 4.64 Equity Share Capital – Authorized 140.00 140.00

million baht, accrued income tax of 4.04 million baht, liabilities under lease agreements 3.74 million baht and non- revolving provision for employee benefits at 0.47 million baht incorporate with a

, employee and management benefits, office rental, travel expenses, and professional fees. In Quarter 1 of 2020, the decrease in administrative expenses is mainly due to (1) THB 0.59 million decrease in

% 7.97 Employee benefit obligations 4.43 0.26% 4.10 0.26% 0.33 8.05% Other non-current liabilities 7.14 0.42% 11.18 0.71% -4.04 -36.14% Total Non-Current Liabilities 49.38 2.90% 47.64 3.03% 1.74 3.65

million or 23.67% decrease from the same period of the previous year (Quarter 2 of 2019: THB 12.75 million). Administrative expenses mainly include salary, employee and management benefits, office rental

% Liabilities under operating lease agreement 7.03 0.40% - 0.00% 7.03 100.00% Employee benefit obligations 5.07 0.29% 4.10 0.26% 0.97 23.66% Other non-current liabilities 10.78 0.62% 11.18 0.71% (0.40) -3.58

that are combined as part of the cost of sales in 2Q19. Consisting of the impact of the legal adjustment of compensation for employee retirement 400 days of THB 15 mil (TKS 2 mil, TBSP 13 mil) and the

857.80 (12.12) (1.41%) Non-current liabilities Long-term bank borrowings 114.00 143.70 (29.70) (20.67%) Finance lease liabilities 6.49 3.48 3.01 86.49% Employee benefit obligations 14.71 7.70 7.01 91.04