managed the customer credit during Covid- 19, including monitoring and collecting accounts receivable, resulted in the decrease in allowance for expected credit losses. 3 Management Discussion and Analysis

brokerage fee. 10) The consolidated financial statements has net loss on expected credit loss as 13.66 million baht and separated financial statements has net loss on expected credit loss as 9.86 million baht

# ( # // # A )/ +* 8ก# 8 A#ก CAC ก# A* ก# B/# 0( 1* 0( 1 % NAV ก#/# . 76.00 #((N , )? . 14.00 10.00 ก# A* ก# B3 ก/ ## 5 *87 ก* 3 ก/ ## Credit rating % NAV Qatar National Bank (QNB) A (FITCH) 19.00 Doha Bank

* ก$ D/$ 0( 1* 0( 1 % NAV ก$/$ . 57.00 )A . C 19.00 10.00 ก$ C* ก$ D5 ก/ $$ 5 *:9 ก* 5 ก/ $$ Credit rating % NAV Qatar National Bank (QNB) A (FITCH) 19.00 Doha Bank (DOHA) A- (FITCH) 19.00

* ก$ B/$ 0( 1* 0( 1 % NAV ก$/$ . 56.00 A )? . 19.00 12.00 ก$ A* ก$ B4 ก/ $$ 5 *98 ก* 4 ก/ $$ Credit rating % NAV China Construction Bank (CCB) A (FITCH) 19.00 Qatar National Bank (QNB) A (FITCH

* ก$ B/$ 0( 1* 0( 1 % NAV ก$/$ . 56.00 A )? . 19.00 17.00 ก$ A* ก$ B4 ก/ $$ 5 *98 ก* 4 ก/ $$ Credit rating % NAV China Construction Bank (CCB) A (FITCH) 19.00 Qatar National Bank (QNB) A (FITCH

*,+ #E*&&IJdก% +#*%D%/ • d ,%% I%&& D 2&2#% 1 ,+ ก% # % // % C */ ,+ 9ก% 9 C%ก CAC ก% C+ ก% D/% 2# :* 2# : % NAV , ก% D/% 2# : ก% C+ ก% Dd ก/ %% 5 +98 ก* d ก/ %% Credit rating % NAV F9%, & AAA 100.00

*,+ #D*&&HIdก% +#*%C%/ • d ,%% H%&& C 1&1#% 3 #+ ,+ ก% # % // % B */ ,+ 8ก% 8 B%ก CAC ก% B+ ก% C/% 1# 9* 1# 9 % NAV , ก% C/% 1# 9 ก% B+ ก% Cd ก/ %% 5 +87 ก* d ก/ %% Credit rating % NAV E8%, & AAA

*,+ #D*&&HIdก% +#*%C%/ • d ,%% H%&& C 1&1#% 6 #+ ,+ ก% # % // % B */ ,+ 8ก% 8 B%ก CAC ก% B+ ก% C/% 1# 9* 1# 9 % NAV , ก% C/% 1# 9 ก% B+ ก% Cd ก/ %% 5 +87 ก* d ก/ %% Credit rating % NAV E8%, & AAA

reduced to be in line with the situation of Coronavirus disease 2019 (COVID-19) outbreak. Administrative expenses Administrative expenses were Baht 11.3 million, increasing +70.7% YoY as both actual credit