Page 1 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 Executive Summary Bank of Thailand, in late March 2020, slashed its forecast for Thai economy from the

Thailand has projected the GDP growth in 2020 to contract to –8.1% from an earlier forecast of –5.3%, making it the lowest economic growth country among its ASEAN peers, while ASEAN’s GDP growth is expected

water shortage warning level. Water supply in the main reservoirs was lower than the 10-year average due to impact of the 2019-2020 drought. Nevertheless, the Meteorology Department climate forecast

the debtors and assessment of both the current and forecast general economic conditions. (in thousand Baht) Allowance for impairment losses 31 December 2019 31 March 2020 Change Consolidated financial

. The weather forecast of the Department of Meteorology was expected that the total rainfall in the Eastern part of Thailand will be lower than average level about 10% in May 2020 and slightly higher than

to decline low single digit YoY vs GDP forecast of -7% to -8% with the focus on being competitive to gain fair market share in mobile business Home broadband on contrary has been the beneficiary of

weak economy, reflecting in fragile consumer spending and sentiment. Several research houses have subsequently revised down the GDP growth forecast below 1% with the view of prolonged impact toward year

sentiment. Several research houses have subsequently revised down the GDP growth forecast below 1% with the view of prolonged impact toward year end. Toward the end of 3Q21, the government has gradually

demands increased by 11.9% to 849,388 units. Export volume increased by 4.3% to 1,000,256 units. In 2023, the Federation of Thai Industries (FTI) forecast the car production to be at 1,950,000 units or

decreased by 4.9% to 406,131 units. The Federation of Thai Industries (FTI) revised the forecast of car production for 2023 to be at 1,900,000 units which were divided into production for exporting of