forecast. Although short-term economic stimulation measures from the government benefited private expenditure, but could not make a positive change to the overall GDP. (Source: Bank of Thailand). Thailand’s

% 2 from 4.0% at the end of 2019 from asset quality management and also partly impacted by the current staging suspension for loans under financial assistance under the Bank of Thailand measures. 1

- Pacific remains at the top with a growth of 8.4 percent following by 6.5 and 6.2 percent in Middle-East and European carriers. (Source: International Air Transport Association) Tourism industry in Thailand

Dubai crude in Q1/2020 was at 50.41 $/BBL, a decline of 11.63 $/BBL, or a decline approaching almost 20% from the previous quarter. Moreover, the COVID-19 outbreak in Thailand caused demand for fuel

joint ventures both in Thailand and overseas. Q1/2019 Net Profit The Company and its subsidiaries recorded net loss of Baht 52 million, a decrease from net profit of Baht 9 million in Q1/2018, mainly due

16 million, an increase of 32% YoY due to higher borrowings as a result of investments in machinery, subsidiaries, and joint ventures both in Thailand and overseas. Q1/2019 Net Profit The Company and

* (%) 75.8% 62.9% Debt to equity (times) 1.0 0.8 Assets turnover* (times) 0.5 0.4 Remark: financial ratios were calculated based on The Stock Exchange of Thailand’s formula. *The Company didn’t restate the

and administrative expenses; 3) higher finance costs due to investments in machinery, and joint ventures in Thailand and overseas; 4) higher depreciation of investments in machinery and 5) non-cash, one

in Thailand and overseas. H1/2019 Finance Costs The Company and its subsidiaries recorded finance costs of Baht 34 million, an increase of 25% YoY due to higher borrowings as a result of investments in

) higher finance costs due to higher borrowings as a result of additional investments in machinery, subsidiaries, and joint ventures both in Thailand and overseas.  EBITDA in Q2/2018 was Baht 43 million, a