could be attributed to increase in impairment loss on loans and debt securities in line with non-performing loans to total loans, which remained at a high level. Net fees and service income – one of

Vietnam. Overall SSSG in hardline segment decreased, primarily due to declines in overall customer spending in Thailand, particularly product in categories like home entertainment, where Power Buy is

electricity in Bang Pakong Power Plant, Chachoengsao Province. Until the end of 4th quarter of 2019 (November), palm fruit and CPO prices began to increase due to most of the arable land faces drought

and service were difficult due to the weak purchasing power. Since the consumers were price- sensitive, together with a high competition in the market, some entrepreneurs turned to reduce their

, industrial sector and tourism sector. Domestic demand continued to expand from private consumption following the fundamental factors supporting overall purchasing power, while private investment contracted

is the Company’s connected party, to own and have the absolute controlling power in the project SHAA Asoke; 2) investment in ONE CITY CENTRE (“OCC”) – grade A office building development project for a

high profit margin and also from effective marketing policy. (2) Analysis of Operating Results and Profitability (2.1) Revenues from Sales and Services Description Year 2018 Year 2017 Increase

strong with low debt-to-equity ratio and high current ratio. P a g e | 3 - Management Discussion and Analysis 1Q2020 - 4,346 1,714 2,942 881 1,102 900 83% 17% 61% 39% 77% 23% 1Q2020 1Q2019 4Q2019 2,816

government such as travel restrictions and the closure of venues considered high-risk areas including department stores, it is expected that the Thai economy in 2020 will have a severe contraction with latest

epidemic situation of Coronavirus 2019 (‘COVID-19’) and the countermeasures taken by the government such as travel restrictions and the closure of venues considered high-risk areas including department