economies of scale and efficient control of production cost. 3. Selling expenses In Q3/2018, the Company incurred selling expenses of Baht 5.99 million, rising year-on-year by Baht 2.04 million or 51.65

plans to move molds from Thailand to India to increase production capacity for automotive models in the Indian’s main market and create economy of scale. Also, the cost of production in India is lower

. What is more, the Company plans to move molds from Thailand to India to increase production capacity for automotive models in the Indian’s main market and create economy of scale. Also, the cost of

such land. In addition, the Company may have to further purchase and collect adjoining land thereto from external parties to ensure the large-scale land acquisition for an additional office in the future

class, rapid digital penetration, high credit growth4 and large unbanked population5 • Aligns with the Bank’s international strategy to transform into a leading regional bank with larger presence in key

increase in sales revenue from the same-store sales growth and the increase in number of branches, as well as the decrease in overall expense from increased production volumes (economies of scale). • Gross

addition, the cost per unit decreased due to the increased production volume (Economy of scale). • Gross Profit margin in Q4/2023 was 65.0%, increased from 62.9% in Q4/2022, and Gross Profit margin in 2023

from same-store sales growth and the increase in the number of branches, as well as the decrease in cost per unit from the increase in production volumes resulting in economies of scale. • Gross Profit

cash loss is small measured against the scale of the crisis. KEY BUSINESS AND STRATEGIC UPDATES THE ADJUSTMENT OF MINIMUM GUARANTEE FOR PLANB o On 30 January 2020, MACO had entered into an Advertising

majority and sheer number of parties, governing could prove difficult. A large stimulus package is expected and large-scale projects are likely to go ahead. This should help boost the economy going forward