2019, SEC found that non-investment grade bonds and unrated bonds take up 6 percent of all private bonds. The overall number of bond issuers had decreased in comparison to 2018, more than half of the

with access to inside information and the number of directors indicated direction of the earning management of listed companies, especially for those in financial sector. Dr. Nattawoot Koowattanatianchai

Company Limited (“the Company”) would like to report on Management Discussion and Analysis from the Separate and Consolidated Financial Statements of the 1st quarter ended March 31, 2018. The details are as

applied Changes (Financial Statement, in which the equity method is applied) Separate Financial Statement Changes (separate financial statement) 31-Mar-2018 31-Mar-2017 Million Baht o/o 31-Mar-2018 31-Mar

Consolidated ∆% Separate ∆% Q1/2018 Q1/2017 Q1/2018 Q1/2017 Revenues from sales and services 529,514 669,009 -21% 320,648 445,078 -28% Interest income 121 363 -67% 121 8,930 -99% Gain on disposal of assets

impairment loss in investments in subsidiaries in separate financial statement at THB 272 million. The transaction is expected to be completed by the end of Q3/2018. Management Discussion and Analysis of

Sep.2017 Total 1,400,400 0.02% 7. The list of committees and related shareholders Vanachai Group Public Company Limited (as at 21 December 2017) List of names Position Number of shares % 1. Mr. Sompop

of names Position Number of shares % 1. Mr. Sompop Sahawat Chairman - - 2. Ms. Yupaporn Boongate Vice - Chairman 31,000,000 1.978 3. Mr. Vasun Jaroenavarat - 31,000,000 1.978 4. Mr. Wanthana

0.410% as at 31 Mar. 2019 Total 94,507,360 1.272% 7. The detail of connected persons and related persons: Vanachai Group Public Company Limited (as at 24 June 2019) List of names Position Number of shares

the true owner of the trading account, and adding a new contact phone number to the client's personal profile even though there was no evidence that the client had ordered the responsible investment