Central Retail Corporation Public Company Limited Management discussion and analysis /Page 1 Management Discussion and Analysis The Thai economy is expected to gradually recover in line with COVID-19

. Assets 5. Legal disputes 6. General information and other material facts Part 2: Management and Corporate Governance 7. Securities and shareholders 8. Organizational structure 9. Corporate governance 10

23 April 2018 At: ACC/HO 016/61 Re: Management Discussion and Analysis for the three-month period ended 31 March 2018 To: President The Stock Exchange of Thailand During the first quarter of 2018 the

Acc.001/2563 February 24, 2020 To: The President The Stock Exchange of Thailand Subject: Management discussion and analysis (MD&A) for the Year 2019 Dear Sir, S. Khonkaen Foods Public Company Limited

Profit 41,954 32,219 9,735 30.22 Gross profit margin (%) 54.98 55.78 (0.80) (1.44) Golf Services & Property Management Revenue 40,531 30,147 10,384 34.44 Gross Profit 17,223 14,118 3,105 21.99 Gross profit

: Interim Analysis and Explanation of the Management To: Directors and Managers The Stock Exchange of Thailand Short-term loan from directors As of June 30, 2019, the company had a short-term loan from

from dumping price by competitors 2) decrease in warehouse management solutions 3) even through less proportion on incremental in business forms and digital printing including revenue from packaging

Project Management, Supply and Installation of the M&E Systems for the MRT Blue Line Extension Project at the project inception. Cost of construction services and sales of construction materials The Company

in industry situation, the company still maintained the market leader position and partly from the fire incident at UHT production line, which was fully covered by insurance for properties damaged and

Interim Management Discussion and Analysis For the three-month period ended 31 March 2020 Lam Soon (Thailand) Public Company Limited and its subsidiaries Page 1 of 2 Financial performance analysis