its Subsidiaries Management’s Discussion and Analysis for the year ended 30 June 2020 2 ASIA’S BOUTIQUE AIRLINE Executive Summary The Covid-19 pandemic plunged global economy into worse recession in the

materials) where global demand is increasing at around 5%. With the acquisition of these leading downstream businesses consisting of both Ethylene Oxide and Indorama Ventures 2nd Quarter 2019 MD&A 4 Propylene

second quarters of 2016 and then decreased in the third quarters of 2016 but then turn back increasing continuously until the second quarter of 2017. Thus it will become more challenging for the global

global steel industry participants in all the regions. Careful estimation for raw material purchasing and production cost management is seriously needed in order to cope with the more dynamic business

quarter of 2018. For second quarter of 2018, the price of pig iron continues to increase while the price of scrap seems to drop from previous quarter. Thus it will become more challenging for the global

to third quarter of 2018, the price of pig iron remained stable at the same level while the price of scrap started to fall continuously. Thus it will become more challenging for the global steel

from Noble Development PCL (Noble) at total investment of THB 800mn. DISPOSAL OF ASSETS Disposal of asset - Boonbaramee Metta Property 11 February 2019 The Company entered into a sales agreement of

entitled to renew the lease for further 3 years of each lease period. The leased price is 240 baht per square wa per month), which is appraised leased price by GPV Global Properties Valuation Co., Ltd. (an

stations’ columns, and full commercialisation is expected to start in 3Q 2019. Lightboxes at Surasak station LED Screen at Chit Lom station MALAYSIA • Currently, VGI Global Media (Malaysia) Sdn Bhd (“VGM

well as medical service concerning health and esthetics. 2. Overview of operating results in the Quarter 1’2018. The global economy has continued its steady growth as a result of a tightening monetary