enter an expansion phase again. Golden Lime Public Company Limited 4 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 30 JUNE 2020 3. Financial highlights (based on Thai FRS) Q2 2020 Income statement

of financial institutions and debenture together with minimizing the impacts from full loan guarantee provided to Power Plant business and its high debt resulting in decreasing in debt to equity ratio

required to be maintained as set out by a securities company; “client’s assets” means the net value of cash, securities and other assets deposited as collateral for debt repayment in a client’s margin

from 1. the group recovering bad debt in 2017 of Baht 3.62 million which led to a decrease in expenses in 2017. However, there was no recovered bad debt in quarter 1/2018. 2. Increase in staff expenses

customers, has been pressured by high household debt. Therefore, spending expenses are carefully controlled. Notwithstanding, the entrepreneurs in retail industry have to adjust themselves to increase the

due to the Company incurred cost of fund from debentures and loan increase. Summary of Financial Statement of Positions 31-Dec-17 31-Dec-18 Change MB % MB % MB % Assets Cash and cash equivalents 6.0 0.2

level of household debt and conservative spending are continue to hinder domestic consumption by limiting consumption with only necessary items, decreasing in spending frequency and low- price. The

derived from a variety of products, including, derivative warrants (DWs), over-the-counter (OTC) derivatives, investments in debt and equity securities for the Company’s own account, bond dealing, private

Business: The Company is to record the revenue from sales of residential condominium units in the statement of comprehensive income when the real estate project has been completed and transferred to the

working capital in their operation business as GSTEL was currently in the process of debt restructuring and seeking funds from external source with aim to enhance its balance sheet and improve their