. Despite, the Company issued newly ordinary shares and warrants totally worth 3,894 million baht to its existing shareholders as well as to the specific investor (Private Placement) in Q1 2018, and the

travel restrictions which affect the number of both Thai and foreign tourists. In addition, purchasing power of consumers is thoroughly affected and this negatively impacts private consumption, although

sector for the private (Translation) 3 sector’s bidding, both rail and expressway systems, which are the Company’s core businesses, including as the Company’s working capital. The deposition of such shares

projects to be launched by the government sector for the private sector’s bidding, both rail and expressway systems, which are the Company’s core businesses, including as the Company’s working capital. The

by the government sector for the private (Translation) 3 sector’s bidding, both rail and expressway systems, which are the Company’s core businesses, including as the Company’s working capital. The

recorded at THB 105 million, a decrease of THB 105 million from 1H2019. P a g e | 4 - Management Discussion and Analysis 2Q2020 - As of June 30, 2020, the Company has total assets in the amount of THB 12,496

the same period last year, respectively. Meanwhile, private consumption increased gradually, as a recovery in purchasing power remained tepid. Private investment has shown signs of improvement

quarter of 2018 continued to grow year-on-year on the back of buoyant domestic demand. Private consumption continued to gain traction, supported by improvement in income and employment. Furthermore, there

global trade volume affected by trade tensions and the impact of structural changes in the Thai economy on export sector. Public expenditure and private investment would expand slower than the previous

construction phases for eight projects with a total value of Baht 171 billion. In addition, the government pushed forward its policies to help the grass roots, such as the “Public-Private Collaboration” scheme