be a source of strength to MACO in the future. Tamonwan Narintavanich (Chief Financial Officer)

, industrial sector and tourism sector. Domestic demand continued to expand from private consumption following the fundamental factors supporting overall purchasing power, while private investment contracted

, which are all business that the Company has the experiences and expertise, and are truly the strength of the Nation Group. 7.2 The asset disposal will help reduce the debt burden of the Company, resulting

. Outdoor media’s strength is as a medium that reaches consumers when they are on-the-go to create brand awareness with extensive reach. Over the last few years, the outdoor media segment has consolidated

for producing of HRC to increase the normal capacity during off peak power usage commencing in 4th Quarter of 2017 till to present which can demonstrate as the following: Management’s Discussion and

the investment by 2 investors, Subsidiary company will be strength and ready in all aspects in order to run the business as planned. 9. Plans for utilizing the proceeds from the asset disposal The money

strength as well as effort to maintain monetary return in the eyes of shareholders. Page 3 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 The Company has adopted

major negative impact to temporarily interrupted in economy from power purchasing retardation in domestic and foreign and lacking of imported materials such as automotive production, electronic devices

representative or 360-degree technology. Until now, offering a deep discount to potential customers was not expected because of the Company’s financial strength with Net Interest-Bearing-Debt to Equity at 0.97

customer perception. We continue to focus on delivering fair profitability balancing between short- and long- term drivers while keeping our solid financial strength. Market and Competitive Environment As