less earning than previous year. Company Financial status 1. Total asset, the company had total asset as at March 31, 2019 with amount of 880.36 million bath decrease from December 31, 2018 by 5.99

Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 13 May 2019 No. ZEN 2562-018 Subject Management Discussion and Analysis for 3

respect, at the beginning of 2016, the Company was contacted by the SSG Group, led by SSG CH, which expressed an intention to offer assistance in the debt restructuring of the Company and began conducting

Company Limited and its subsidiaries (“the Company”) would like to clarify herewith the operating result for Quarter 3 Ended 30 September 2019 as follows:- Financial Position As at 30 September 2019 total

account receivables - unrelated parties 1,377 2,452 Less: Allowance for doubtful accounts (81) (52) Trade account receivables - net 1,296 2,400 As at 31 December 2019 and 31 December 2018, the Group had the

been reviewed. The Group had sales and service income 796 million baht and net loss 87 million baht, compared with the first quarter of 2018 sales and service income at 1,047 million baht for and net

Company Limited (the “Company”) which was convened on 10 November 2018, at 15.30 hrs., at the Meeting Room, No. 496, Moo 9, Samrong Nuea Subdistrict, Mueang Samut Prakan District, Samut Prakan Province, and

Directors Meeting No. 12/2018 of Origin Property Public Company Limited (the “Company”) which was convened on 10 November 2018, at 15.30 hrs., at the Meeting Room, No. 496, Moo 9, Samrong Nuea Subdistrict

for doubtful accounts (54) (55) Trade account receivables - net 1,289 2,400 As at 30 September 2019 and 31 December 2018, the Group had the allowance for doubtful accounts, amounting to Baht 54 million

Stock Exchange of Thailand on October 17, 2019. The Company currently manages 34 shopping malls with the net leasable area (NLA) of approximately 1.8 mn sqm. At the end of 2019 the average occupancy rate