strength as well as effort to maintain monetary return in the eyes of shareholders. Page 3 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 The Company has adopted

downwards the 2020 GDP forecast in their Monetary Policy Report, saying the economy was likely to contract by 8.1%. Although Thailand has successfully controlled the spread of COVID-19 so far, leading to a

Economic Outlook of the International Monetary Fund for October 2019 cut this year’s global economic growth projection to 3.0 percent from the previous forecast of 3.2 percent. The figure is the lowest

sharp contraction in the first quarter of 2020 as economic activity was crippled due to efforts to control the spread of COVID-19. The World Economic Outlook of the International Monetary Fund estimated

the securities in accordance with Section 82 of the Securities and Exchange Act B.E. 2535 (1992) within one year from the date on which the fact that the Registration Statement contained false

the BOT for approval. In this regard, in accordance with Section 43 of the Financial Institutions Business Act B.E. 2551 (2008) (as amended), the Bank is also required to convene a shareholders’ meeting

currency 'Translation Adjustment' in the shareholders funds section of the balance sheet. There is no cash affect concerning its movement. For Hana being an export group of companies the currency movements

penalties and surcharges) as described in section of the operating results above. Bank overdrafts & short-term loans and Trade & other payable reduced by Baht 206 million and 521 million, respectively

, social security contribution payment for insured person from Section 40 and Line sticker selling through Boonterm kiosk, which is a new payment channel for Line application’s users. This will increase

Transactions and the Notification of the Stock Exchange of Thailand Re: Disclosure of Information and other acts of listed companies concerning the connected transactions B.E. 2546. Seller is not under section