Page 1 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 Executive Summary Bank of Thailand, in late March 2020, slashed its forecast for Thai economy from the

of the Company this quarter is still in line with plan, especially the Homepro business, which continues to increase its efficiency and improve merchandise management. This includes the conversion of

35% EBITDA 83 96 16% 142 177 25% Net Profit (Loss) for the Company 34 43 26% 49 77 57% Gross Profit Margin (%) 63.9% 64.2% 0.3% 62.4% 64.1% 1.7% EBITDA Margin1 (%) 35.5% 31.8% (3.7%) 32.6% 31.1% (1.5

signature in giving opinions on the auditing of the following financial statements: (1) financial statements of a foreign company applying for a public offering of shares in Thailand, or having been granted

Page 1 of 7 Management Discussion and Analysis 1Q2019 Executive Summary Singha Estate Public Company Limited (“the Company”) reported 1Q19 Total revenue of THB 3,000m, increased by 167% YoY. The

1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 31 March 2020 Bangkok Airways Public Company Limited and Its Subsidiaries 2 ASIA’S BOUTIQUE AIRLINE Bangkok Airways

tables attached hereunder: “ intermediary ” means a securities company or a derivatives intermediary; “ fund management company ” means a securities company licensed to undertake securities business in the

: “intermediary” means a securities company or a derivatives intermediary; “fund management company” means a securities company licensed to undertake securities business in the category of mutual fund or private

expenses and professional fees. For the first half of 2017, its administrative expenses are increased by 14.06% compared to the same period of last year. However, the Company enjoys a tremendous increase in

Information and Communication Networks Public Company Limited D.K.J. Building, 5th Floor, No. 393, Sukhonthasawat Road, Latphrao, Latphrao, Bangkok 10230, Thailand Tax.ID.: 0107560000184 Website