same period last year. This figure shows that the Company significantly cut on sales expenses from the previous year according to the drop in sales revenue. However, sales expenses to sales revenue ratio

from 0.8 to 1.1 times. The Company expects the IBD/E to significantly decrease after the IPO. Year Ended December 31, 2018 (THB million) Six Months Ended June 30, 2019 (THB million) Cash and cash

the Outrigger Hotels for 5,357. 8 million from the related parties. The Company expects that the ratio of interest-bearing debt to shareholders will be reduced significantly. December 31, 2018 (THB

/2019 increases significantly from the reversal of the doubtful debt allowance in the amount of THB 11mm and decreases for the 9-month reporting period form the increase of COGS and loss from foreign

Central Retail Corporation Public Company Limited Management discussion and analysis /Page 1 Executive summary The overall global economy was projected to slow down significantly due to the COVID-19

agreement in the contract. In order to deal with this issue, land requirement and wastewater tariff will be significantly increased. However, MCDC could not both provide additional land area and accept for

increase from the ratio of 14.7% in the corresponding period last year, largely driven by the improving sales and overall gross profit margin, a reduction in sponsorship fee to CFC, and a significantly

agreement in the contract. In order to deal with this issue, land requirement and wastewater tariff will be significantly increased. However, MCDC could not either provide additional land area and accept for

corresponding period last year, largely driven by improving sales and overall gross profit margin and significantly decreases in losses from the ICUK operation. - Translation - Page 4 of 4 Consolidated financial

operating revenue of THB 512mn, a decrease of 25.9% YoY. The decrease of overall performance was significantly affected from the coronavirus outbreak, which started since early of 2020. This led to an