and total portfolio and a strong growth of both domestic and overseas subsidiaries. In addition, the Company efficiently managed the selling, general and administrative expense and funding cost. 2

paid rent r's Equity -term loans urrent nt portion 017 increase fro siness perfo nses es in sales aht, which w same period the numbe s of each bu cial Position As of 30 MB 27 23 1,33 22 59 2,51 48 5,95

bidding system. 1.2 Electricity industry in Asia-Pacific countries EGCO is fully aware of the limited growth prospect in domestic electricity industry. Therefore, EGCO determines business strategies to

public consumption and private investment were constantly expanding. However, Thai economy still faces other risk such as The U.S.-China trade war, global economic uncertainty and domestic political

pandemic. The pandemic severely affects both external and domestic demand in tourism, manufacturing, and exporting sectors, as well as softens private consumption indicators. The outbreak also led to

the COVID-19 pandemic continues to affect private consumption and domestic tourism sector continued to decline. As of May 31, 2021, the Company’s total cards reached 9.25 million cards, including 2.98

domestic financial institutions which is enough to drive the Company’s operation. The Company also has the debentures totaling 2.9 billion baht that will mature within the next 12 months, which the Company

from new domestic turnovers increased around 3.3 billion baht or 4% from the end of last fiscal year according to marketing activities to support new customers and increasing of outstanding. However

increase was attributed mainly from the domestic turnovers by 32% y-y. This can be categorized by business type as follows: credit card receivable of 43,399 million baht, increased by 10% at the end of

industrial market sales volume spiked Management Discussion and Analysis of Business Operation for the 2nd quarter of 2017 Bangchak Corporation Plc. 13 | from emergency shutdowns of various domestic refineries