branches, including 1 new branch opened in Nov 2019. Revenues Classified by Distribution Channels 2019 2018 Increase/(Decrease) Amount % Amount % % Domestic Restaurant and Bakery Business 6,056 82.8 6,184

expand new distribution channels such as Pop-up Store, Mini Shop at HQ Rama 9, and E-commerce. Total revenue in 9M19 was Baht 734.15 million, decreased by 3.15% YOY, the mainly from economy slowdown. The

was 312.9 million baht compared to 321.7 million baht the same period last year, decreased 2.7 percent or 8.8 million baht mainly from declining in print media and advertising revenue. Revenue from

2018 was 295.8 million baht compared to 358.4 million baht the same period last year, decreased 17.5 percent or 62.6 million baht mainly from declining in print media and advertising revenue. Revenue

from the date that the Board of Directors’ Meeting approved the establishment of a new subsidiary Name of the Company Forth Smart Distribution Company Limited Type of business To sell goods and services

corporation public company limited ("the Company") and its subsidiaries intend to engage in horizontal and vertical real estate development business as industrial and commercial real estate for sale and lease

to increase sales by adding more distribution channels such as online, TV Home Shopping, participation in Trade Fair, B2B sales, etc. In the first quarter of 2018, other income increased by 23.5% YoY

Management Discussion and Analysis Analysis of Overall Performance The distribution business of the plastic resins, plastic, and petrochemical related products needs relatively high working capital. The key

company is allowed to advertise, except for the advertising made pursuant to Chapter 2 which must be approved by the Office prior to distribution. (UNOFFICIAL TRANSLATION) 3 Clause 5. To advertise, in any

which must be approved by the Office prior to distribution. (UNOFFICIAL TRANSLATION) 3 Clause 5. To advertise, in any cases, the securities company shall comply with Advertising Rules as prescribed under