2020 MD&A 6  We are seeing a trend in industry that due to poor margin number of cracker, PO/MTBE projects have been delayed to conserve cash; this will help to restore the margin to replacement

. The Company has speeded up this project in responsive of promising New Normal demand due to the future trend of tourism industry. Should the domestic tourism have been recovered from government stimulus

financial reporting standards. Overall market environment The Thai economy for the first quarter of 2020 continued on a declining trend comparing to last year due primarily to the COVID-19 outbreak which

of WINNER; 4) 4 stores of Trend Design; 5) 2 stores of Bo Concept; 6) 1 store of MOMENTOUS; and 7) 19 stores of overseas franchise Index Living Mall in 8 countries. Management Discussion and Analysis

average industry growth trend from the Bank of Ayudhya research Cost of Sales Based on an average of 2017 - 2019 (Unit : Baht) 2017 Audited Statement 2018 Audit Statement 2019 Audited Statement Operating

clients, volume from existing IUs started to show the recovery sign with 17% growth in July from monthly average in Q2’2020. Furthermore, the trend of gas price looks favorable to our SPP business with a

quality while enhancing efficiency and productivity. Enterprise services rise on economic certainty and continual digital transformation trend Non-mobile enterprise business reported revenue of Bt1,821mn

seasonality trend of the third quarter of every year, and increased by Baht 3,686 million or 269% from Q3/2018 after the acquisition of GLOW. The adjusted net income was at Baht 1,542 million which reflects the

become Middle Income clients, KBank remains committed to acquiring new customers and seeking opportunities to do business with our partners to develop new user-friendly products and services in response to

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending June 30, 2019 The Thai economy faced increased headwinds in the second quarter of 2019. Exports, tourism and private investment – among major economic activities – were hampered by the worse-than-expected global economic slowdown. Meanwhile, consumers’ purchasing power weakened amid high household debt, whereas public investment and the government’s budget disbursement were aff...