Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND Tel: 02-0195000 18 February 2019 No. ZEN 2562-002 Subject Management Discussion and Analysis for

of Thailand Enclosure : 1. Financial Statements for the Second quarter ended June 30,2017 2. Management Discussion and Analysis Nawarat Patanakarn Public Company Limited would like to submit Reviewed

derived from the management service and engineering service.  Overall gross profit margin decreased from 17.0% to 11.9% amount Baht (16.37) million. 2019 2018 Revenue 443.24 406.54 36.70 9.0% Cost 390.30

profit 53 53 (0) -1% Gross profit margin 13.8% 11.9% Other income 0 4 (4) -97% Selling & Admin expenses 30 26 4 16% 7.9% 5.9% Finance costs 13 12 1 7% Share of loss from associate 0 - Income tax expense (0

Baht 1.60 million. This was mainly caused by the lower revenues derived from fee and service income, interest on margin loans and return on financial instruments. However, KT ZMICO’s operating expense

, total revenue decreased by 31.8% and net profit decreased by 65% YoY). However, the Company implemented the cost-effective management as planned to reduce impact to business performance. As a result of

(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on March 31, 2019 1 Significant events 1. The Extraordinary General Meeting

8 บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public Company Limited Management Discussion and Analysis Yearly ending 31 December 2019 G Steel Public Company Limited Page 1/1 Management Discussion and

GFPT Public Company Limited Management Discussion and Analysis for the Year 2018 Page 1 of 14 Management Discussion and Analysis This MD&A report has been prepared based on the consolidated of GFPT

Microsoft Word - ACE MD&A YE22 - EN 1 No. ACE-ACC-1/2023 28 February 2023 Subject Management Discussion and Analysis for the year ended 31 December 2022 To President The Stock Exchange of Thailand