' Representative Ktb Securities (Thailand) Public Co., Ltd. Guarantor/Collateral Land mortgage empty, located at Prachinburi Province. The land ownership belongs to Jungle Word Public Company Limited. amount cost

the Year as at 31 December 2018 To The President The Stock Exchange of Thailand We, ZEN Corporation Group Public Company Limited (“the Group”), are please to inform you our management discussion and

margin at 44.6% (Q1 2018: 42.9%) Selling and Administration expense Selling and administration expense (“ SG&A” ) closed at 20.92mb (Q1 2018: 23.15mb), decreasing by 2. 23mb or 9. 6% . SG&A consists of

perform construction service by being sub-contactor from the main contractors. As at 31 March 2019, the Group has backlog for construction service in oil and gas sector totaling of 2,133.33 Million Baht. 2

Yai, Chachoengsao, Rayong and Diana Hat Yai Branch. Industry Overview Thailand’s overall economy expanded at a slower pace than expected in 2Q19 due to external demand. The escalated trade tension

cost also contributed positively to a better gross profit margin at 46.2% (Q2 2018: 43.2%) Selling and Administration expense Selling and administration expense ( “ SG&A” ) closed at 48.13mb (Q2 2018

slower growth in cost also contributed positively to a better gross profit margin at 46.2% (Q2 2018: 43.2%) Selling and Administration expense Selling and administration expense ( “ SG&A” ) closed at

Position 1. Total asset, the company had total asset as at June 30, 2018 of Baht 938.59 million increase from December 31, 2017 by Baht 179.75 or 23.69% , the details of the change are as follow : 1.1

% respectively. Such growth was soaring depreciation and space’s expenses led by Don Mueang branch boosting high share compared to revenue. The company closed down the branch at the end of May 2018. This will

million, decreased by Baht 72 million or 4.0% from Q3’2017, mainly from declining in total green tea market while the company still maintained market leader position, and partly from the fire incident at