1 Ref FN. 023/2020 Management Discussion and Analysis For operation of the first quarter of year 2020 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

1 Ref FN. 047/2019 Management Discussion and Analysis For operation of the third quarter of year 2019 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

by 3.18% from - 3 - 33.34 in 2017 to 32.32 in 2017. Moreover, as the Company has solar power plant in Japan, in this year, the Company incurred financial advisory, legal fees and project study expense

ended June 30, 2017, the significant increasing expenses were administrative expenses, financial cost and including share of loss from investment in associates that the investing power plant projects have

 production equipment will follow the increase in sales, particularly in the IC division. However, there is a 3 to 6 month time lag due to the ordering lead time. Plant expansion will depend Page 2 of 3 on the

 follow the increase in sales, particularly in the IC division. However, there is a 3 to 6 month time lag due to the ordering lead time. Plant expansion will depend on the current building utilisation and

of 2019 and YE 2018, cash and cash equivalent equaled THB 38.32 million and THB 62.55 million respectively. The THB 24.23 million drop was mainly spent out for plant and branch construction. Trade

equipment will follow the increase in sales, particularly in the IC division. However, there is a 3 to 6 month time lag due to the ordering lead time. Plant expansion will depend on the current building

No. WHAUP-CS014-2562 1 8 August 2019 Re Share Acquisition in Duong River Surface Water Plant JSC in Vietnam Dear President The Stock Exchange of Thailand WHA Utilities and Power Public Company

 month time lag due to the ordering lead time. Plant expansion will depend on the current building utilisation and lead time to construct new plant or expand in an existing plant. Page 2 of 3 Source of