was expected to expand at a slower pace compared with the same period last year due to a contraction in merchandise exports and a slowdown in tourism growth resulting from uncertainty about the trade

debt to equity (times) 2.2 1.9 1.9 Trade receivable 14,179 5.0% 15,969 5.6% Net debt to EBITDA (times) 1.2 1.4 1.2 Inventories 3,951 1.4% 4,670 1.6% Current Ratio (times) 0.4 0.5 0.5 Others 3,418 1.2

1,221 2.1% 3,706 3,534 4.9% Profit for the period from continuing operations 841 787 6.8% 2,459 2,239 9.8% Profit for the period from discontinued operation, net of tax - 7 -100.0% - 27 -100.0% Profit for

investment 2,963 1.1% 2,768 1.0% Trade receivable 11,377 4.1% 11,466 4.1% Inventories 3,085 1.1% 4,442 1.6% Others 3,248 1.2% 3,230 1.2% Current Assets 31,899 12% 31,987 11% Spectrum license 115,378 42

2,963 1.1% 2,495 0.9% Net debt to equity (times) 2.57 2.03 2.30 Trade receivable 11,377 4.1% 12,939 4.6% Net debt to EBITDA (times) 1.53 1.32 1.39 Inventories 3,085 1.1% 2,519 0.9% Current Ratio (times

2019, therefore the segment has loss on operations. Administrative expenses Administrative expenses for the period ended 31 March 2020 and 2019 THB Mn THB Mn THB Mn % Administrative expenses 88.0 102.8

cash equivalents increased by THB 4,110 million driven by cash generated from operations (see cash flow analysis). IPO proceeds were partly invested in short and long term debt securities resulting in

0.8% 1,997 0.7% Net debt to equity (times) 1.9 1.7 1.4 Trade receivable 16,361 5.6% 15,887 5.4% Net debt to EBITDA (times) 1.2 1.3 1.1 Inventories 3,823 1.3% 3,615 1.2% Current Ratio (times) 0.5 0.5 0.6

for the objectives of the Company to be clear, covering the business, and in accordance with the operations that the Company has invested in the power generation project with the 2 MW on the Solar Farm

Post-TFRS 15 4Q18 2Q19 2Q18 1Q19 2Q19 Cash 9,067 3.1% 11,198 3.9% Interest-bearing debt to equity (times) 1.8 1.8 1.5 ST investment 2,221 0.8% 1,983 0.7% Net debt to equity (times) 1.7 1.4 1.3 Trade