and service were difficult due to the weak purchasing power. Since the consumers were price- sensitive, together with a high competition in the market, some entrepreneurs turned to reduce their

continued declining due to intense competition in Thailand reflecting falling in revenue from fish feed which dropped by 23.69% comparing to 2017 from lower sales volume of fish feed. Furthermore, revenue

chicken meat export was 320,466 tons, decreased by 2.26% from previous year since EU Countries has not extended import quotas for Thai chicken meat and higher competition from Eastern European countries

Ratio 1 (times) 1.63 1.54 1.81 Quick Ratio 2 (times) 0.53 0.37 0.57 Cash Ratio 3 (times) 0.67 0.68 0.80 Account Receivable Turnover 4 (times) 17.65 17.27 17.78 Average Collection Period 5 (days) 20 21 20

Document Quick Link Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 2 of 14 Major Events in 2Q19 New Retail Development to Become the “Center of Life” “Central i-City

Analysis (MD&A) Consolidated Financial Results: 3Q19 Major Events Performance Business Plan Document Quick Link Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 2 of 16

flooding in various areas. Also, there was an intense competition in the industrial market. While sales volume of the retail market was slightly lower, consequently due to the seasonal factor which had lower

some periods in the quarter, the retail price was incongruous with the product cost. As for the industrial marketing, it dipped from intense market competition. Power Plant Business Group recorded

competition in industrial market. Marketing margin was at the similar level of Q1/2017, while the Non-oil business recorded a higher revenue from expansion of the branches, but has been under developing and

directions, adaptability to ensure competitiveness under the changing landscape and increasing competition, and the use of technology to serve the investors’ changing demands and behaviors.  As the Thai