JAS Asset Management Discussion and Analysis, Q2/2018 Page1/3 - Translation - No. J61/009 8 August 2018 Subject: Management Discussion and Analysis, 2nd Quarter Ending 30 June 2018 To: President The

including utility bills and tax campaign which temporarily stimulated the private consumption. Nonetheless, inherent risks lay in structural challenges such as high household debt, delayed government budget

are necessary for the business of non-performing debt management and debt collection services, including car parking service, security and general building cleaning, etc. 3. Period 6 months from

end of 2017. The Company’s debt to equity ratio was 1.59 times while the interest bearing debt to equity ratio was 1.29 times. Management Discussion and Analysis Q1/2018 Page 4/4 JAS Asset Public

observed a growth in subsidiary business especially in distress debt management and mobile phone distributor. The details of the Company’s performance are explained as follows: 2016 2017 Change MB % MB % MB

group bought more distressed debt of JMT's investment and an increase in investment properties in its subsidiary JAS Asset. Liabilities and shareholders' equity As of 30 June 2020, The Company has total

Price (Bht./ton) 18,690 16,163 HRC Cash Margin (Bht./Ton) 1,700 1,586 Unit: million Baht 31 December 2017 31 December 2016 Fin an cia l St at us Total Liabilities 5,492 5,871 Total Asset 19,546 17,813

due to lower prices. Net debt to equity is at 0.99 times, well below IVL’s covenants, and supported by stronger operating cash flow. The dividend payout of THB 1.225/share for 2019 remains higher than

Machines for the Debenture Debt repayment To: President The Stock Exchange of Thailand Enclosure: Information Memorandum on the Asset Disposal, Schedule 1 of Rich Asia Corporation Public Company Limited

operation of Innotech Asset Management (or “Innotech” formerly known as “Solaris Asset Management”), a subsidiary. Innotech is currently on process of preparing personnel and operating system to reactivate