of Baht 50.32 Million, which gross profit margin of 8.22%. A few dropped comparing with Q1/2019 was total of Baht 46.10 Million, or gross profit margin of 11.13%. The main reason is improvement of

1 / 3 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS  Explanation and analysis of financial performance for the three-month period ended 31 March 2019

across Thailand. Gross Profit and Gross Profit Margin 2017 2016 Increase (decrease) Million Baht % Million Baht % Million Baht % EMS business 446 19% 354 21% 92 26% Telecommunication business 133 28% 101

Profit Margin EMS business Gross profit for the first quarter of 2020 was Baht 73 million, a decrease of Baht 1 million or 1% decrease from the same period of last year. Gross profit margin for the first

to the same period of the previous year. Gross Profit and Gross Profit Margin EMS business The Company had gross profit from EMS business for 2019 amounting to Baht 264 million, which was decreased by

significant change compared to the same period of the previous year. Gross Profit and Gross Profit Margin EMS business The Company had gross profit for the first quarter of 2019 amounting to Baht 74 million

Margin EMS business The Company had gross profit for the second quarter of 2019 amounting to Baht 55 million, which was decreased by Baht 21 million or a decrease of 28% compared to the gross profit of

land and houses recorded Baht 67.47 million which increase Baht 11.01 million or 19.50% compared to the same period of year 2018, which had sold houses according to condition. 1.2 Other revenue The other

% Food Center 64 73 (9) -13% 135 158 (23) -15% Less intercompany balance 0 0 0 0% 0 0 0 0% Revenue from sales 490 612 (122) -20% 988 1,075 (87) -8% • As a results of downturn in economics condition and

as the definition of “institutional investor” under Section 3 of the Derivatives Act B.E. 2546 (2003) and related notifications issued by virtue of such law; “margin account” means an account which