- Translation - IR62/002 26 February 2019 Re: Management Discussion and Analysis (MD&A) for the year 2018 To: President The Stock Exchange of Thailand Overview and Factors Affecting Future Operating Results In
results of the Company. • The Company had no guarantee for outsiders or any obligation in project investment or other similar obligations that may effect to its operation. Factors Affecting Business
through big wholesaler stores in most provinces and supporting smaller retailers through sales materials. Besides the distribution disruption, negative factors affecting tourism in Thailand still emerged
same period in the previous year. Drop in revenues mainly came from closed non-performance branches together with high competitive situation focusing on the pricing competition directly affecting to
consequences; resulting customer orders decreased. World market prices of crude oil and cotton has been risen since the second quarter, and also the fluctuations of currency exchange rates affecting the Company
outsiders or any obligation in project investment or other similar obligations that may effect to its operation. Factors Affecting Business Operation in the Future For the year 2018, the Company expects that
model of WCIG affecting the decrease in business valuation, the consolidated accounts has been recognised loss on impairment of THB 505 million. This consists of impairment on Goodwill (THB 86 million
factors affecting future operating results The Company operates businesses as a holding company, which mainly invests in the retail business, and conducts business together under the business model to
affecting tourism in Thailand still emerged and caused a material fall in in number of tourists especially from China which is our target customers. The number of Chinese tourists slid about 8 % from the same