target group of customers can maintain their purchasing power. For recurring income business, in November 2019, the Company kicked off the construction of “Hotel Kitch”, a 72-room hotel that will be

POWER PUBLIC COMPANY LIMITED A: AREEYA PROPERTY PUBLIC COMPANY LIMITED A5: ASSET FIVE GROUP PUBLIC COMPANY LIMITED AAV: ASIA AVIATION PUBLIC COMPANY LIMITED ABICO: ABICO HOLDINGS PUBLIC COMPANY LIMITED

(THIS REPORT DISCUSSES PRINCIPAL CHANGES ON THE AUDITED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR ENDED 31 DECEMBER

(THIS REPORT DISCUSSES PRINCIPAL CHANGES ON THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR ENDED 31 DECEMBER

LIMITED ARIP PUBLIC COMPANY LIMITED ARROW SYNDICATE PUBLIC COMPANY LIMITED ASEFA PUBLIC COMPANY LIMITED ASIA AVIATION PUBLIC COMPANY LIMITED ASIA BIOMASS PUBLIC COMPANY LIMITED ASIA CAPITAL GROUP PUBLIC

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Fourth Quarter and the Year Ended 31 December 2017 1. Q4/2017 Highlights Figure 1: Quarterly results

100.00% 111.56 3.23% Distribution costs 140.16 4.05% 159.58 4.47% 19.42 13.86% Administrative expenses 88.53 2.56% 105.99 2.97% 17.45 19.72% Profit from operating activities 64.65 1.87% 69.66 1.95% 5.01

Ended December 31, 2018 To The President The Stock Exchange of Thailand Management Discussion and Analysis Consolidated Financial Statements For Financial Year ended December 31, 2018 Overall Group

, the Company Group earns from transportation service in quarterly basis, for the year ended December 31st, 2019, for 1,153 million baht increased from the previous year for 33.86 million baht (3.03

million or accounted for 68.45% and 31.55% of total revenue from program rights, an increase of THB 324.08 million or 24.59% from last year, resulting from the Company has increased distribution channels to