124.36 129.61 90.81 Cash collection tends to gradually increase within the first five years of an asset’s acquisition as we carry out preparation, negotiation and restructuring activities, and then

Change 3/2017 2/2017 3/2016 2/2017 3/2016 2017 2016 (%) Bad debt and doubtful accounts 6,420 5,779 5,023 11.1% 27.8% 18,057 12,560 43.8% Loss on debt restructuring (reversal) (161) (91) (77) (76.9)% (109.1

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through support of investment and private spending as well as bolstering opportunities for other econo...

administrative expenses 79,130 73,029 86,840 28,090 Impairment losses and other provisions - 137 56,166 - Loss on business restructuring 204,445 - - - Total expenses 383,377 146,204 261,871 54,382 Profit (loss

and other provisions - 137 56,166 - Loss on business restructuring 204,445 - - - Total expenses 383,377 146,204 261,871 54,382 Profit (loss) before finace cost and income tax expense (201,163) 12,069

debt restructuring (reversal) 692 641 3,687 8.0% (81.2)% 1,333 3,640 (63.4)% Total 5,549 5,078 6,533 9.3% (15.1)% 10,627 13,854 (23.3)% Impairment loss of loans and debt securities in the second quarter

restructuring plan of the Company including the scheduling of shareholders’ meeting of the Company within April 2019 to consider the Company’s capital increase. The Company may initially consider increasing its

doubtful accounts 2,846 7,369 5,779 (61.4)% (50.8)% 10,214 11,637 (12.2)% Loss on debt restructuring (reversal) 3,687 (47) (91) 7,944.7% 4,151.6% 3,640 (143) 2,645.5% Total 6,533 7,322 5,688 (10.8)% 14.9

/2018 3/2017 2018 2017 (%) Bad debt and doubtful accounts 5,236 2,846 6,420 84.0% (18.4)% 15,450 18,057 (14.4)% Loss on debt restructuring (reversal) 110 3,687 (161) (97.0)% 168.3% 3,750 (304) 1,333.6

business operation, as the Company has continuous loss. Thus, the Company considers restructuring the business of the Company’s group by disposing assets that will not have impact on the main businesses of