sales and implementation of the new products from Salesforce. With our strong workforce, our company is prepared to enjoy an Economy of Scale. Selling and Administration Expense For the first 9 months of

74.85 million or 9.08 percent, due to the decrease in product sales volume of 4.58 percent and decrease in raw material cost, salary and benefits of the employees, repairs and maintenance expense and gas

certain office space at Singha Complex in 4Q17 performance. Major Developments in 1Q18 • Approved in the 2017 AGM, in February, S Hotels and Resorts (SC) Co., Ltd. (a 99% subsidiary) invested in Phase 1 of

-1- Ref. POL. 028/2020 February 25, 2020 Re: Management Discussion & Analysis of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P Syndicate Public

, the Company recorded the difference between the selling price and the fair value of the ordinary shares subscribed by the Company’s management and/or employees according to the Company’s employee stock

(Decrease) Amount % Dentist remuneration 55.47 51.01 4.46 8.74 Rental of office and branches 13.08 13.27 (0.19) (1.43) Employees’ salaries of branches 16.86 14.26 2.59 18.17 Depreciation 5.04 5.27 (0.23

power an Project by e t e s t e e y t n e r y e e r y Selling an For the six printing bu by WPS in obligations new labor plant busin the amount For the sec increase of million in employees power plan the

second quarter of 2019, the labor Protection Act stipulates additional compensation rates in the case of an employment termination for employees who have worked for 20 years or more to be entitled to

for employees who have worked with the company 20 years or more to receive compensation not less than 400 days of their salary as at the date of retirement which total amount increased by Baht 7 million

expenses of the second quarter of the year 2018 of Baht 133.57 million decreased from Baht 154.56 million for the second quarter of the year 2017 of Baht 20.99 million or -13.6% due to decrease in employees