exhausted pipes to automotive industry. For the period of 1st half ended 30th Sept 2017, the Company and its subsidiaries had net operating profit of Baht 166.19 million which accounting for the increase by

to automotive industry. For the period of nine months ended 31st Dec 2017, the Company and its subsidiaries had net operating profit of Baht 200.55 million which accounting for the increase by 34.5

called “The Company”) still has carried adjustment of the business strategy to focus on the large project since last year and we got purchase order from big industry in first quarter of 2019 in an

businesses. (2) In 2019 the Group adjusted the accounting classifications of Costs of Sales and Service and Selling Expenses to be more suitable and in line with other companies in the same industry. In the

the Best Bond Awards 2019. PAGE 4 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1/2020 Executive Summary Company Investment Projects and Progress There are 5 projects that are under construction: 1. Nava

growth potential in the tourist industry. o The investment in Target Group Hotels and Resorts in 4 countries will further diversify the Company’s geographical risk. o The investment in the Target Group

Global and Thai Economy in the Third Quarter of 2019 1 1.2 Banking Industry and Competition 2 1.3 Significant Regulations and Rules related to Business Operations 2 2. Risk Management and Risk Factors 5

V3 27/02/63 0 V3 27/02/63 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2019 In 2019, the Thai economy grew by 2.4 percent year-on-year, down from

, and reported the Amalgamation between BBP Holding Co., Ltd. (a subsidiary of the company) and KSLGI Co., Ltd. (a subsidiary of Khon Kaen Sugar Industry Plc.) in July 2017. Exploration and Production

subsidiary of Khon Kaen Sugar Industry Plc., to form BBGI Co., Ltd. As a result of the amalgamation, the Company realized KSL Green Innovation Plc.’s performance for two months (November to December 2017). Due