Microsoft Word - MDA Q4-2563_Eng_28 may 2020 May 27, 2020 Subject Management Discussion and Analysis for the year ended 31st March 2020 To President of the Stock Exchange of Thailand Secretary of the

26 February 2020 At: ACC/HO 003/63 Re: Management Discussion and Analysis for the year ended 31 December 2019 To: President The Stock Exchange of Thailand Thailand’s economy grew more slowly than

revenues from sales in quarter 2/2018 (“Q2/2018”) of Baht 233.94 million, a year-on-year growth of Baht 115.02 million or 96.72% mainly attributable to consistent orders continuously from Q1/2018 of a new

earnings per share of Baht 0.16 for the first quarter of the previous year. The Company would like to clarify the significant reasons for the consolidated loss for the first quarter of 2020 compared to the

Limited (“The Company”) and its Subsidiary (“The Group”) would like to submit the operating results for the year ened 31 December 2017 with the following details as below : Overall Business The Group’s

decrease of 9.0% compared to the previous year with total liabilities decreased due to the Company paid off loans of long-term loans. Total shareholders' equity as at December 31, 2018, was Bt1,251.56mn

made a strong start to the year, with improvements in production volumes and margins across all segments and geographies. This performance is a result of our long-term investment strategy, the

year. Total revenues constituted of the following: 1) Revenue from the hotel business of Baht 1,418.6 million, which grew by Baht 1,176.9 million or 486.9% when compared to the same period of last year

increase of Baht 23 million or an increase of 12% from the same period of last year. This is due to the increase in administrative expenses such as amortization of computer software, provision for long-term

June 2020, which net profit has changed more than 20% from the last year as follows: Statement of Comprehensive Income Unit: Million Baht 30 June 2020 30 June 2019 Increased (Decreased) Percentage Remark