investment in available-for-sale securities, which consistent with the investment proportion and the purpose of the Company investment. The Company recorded gain on fair value adjustment of investment due to

: Management Discussion and Analysis For the years ended 31 December 2019 Summary of Performance Sales Revenue For the years ended 31 December 2018 and 2019, the Company recorded total sales revenue of THB

debt and doubtful accounts was 1,200 million baht, decreasing by 12% from the previous quarter. - Finance Cost In the fiscal year 2016, the Company’s finance cost recorded at 2,110 million baht, a

of last year when the Company and its subsidiaries had a provision for doubtful accounts. Beside, company and its subsidiaries recorded the profit sharing to non-controlling interest in a subsidiary by

support the increase in number of new branches. Moreover, the Company had increased expenses in the first half of 2017 from the same period last year as follows. In February 2017, the Company recorded the

quarter of the year 2017, the Company had the interest cost from SOE construction loans, which were all recorded as interest expenses in the income statement after the opening but were partially recorded as

or 35.92%. This was mainly due to the increase in the number of office employees to support the branch expansion plan. Moreover, in February 2017, the Company recorded the expense for the annual staff

amounted to Baht 67 Million was from the increase in interest cost from SOE construction loans, which were all recorded as interest expenses in the income statement once operated but were partially recorded

long-outstanding receivables has recorded in accordance with the Financial Reporting Standard No. 9 Financial Instruments (TFRS 9) and also the employee-related expenses have increased. -3- Financial

the amount of Baht 66.14 million while investment capital is at Baht 160.58 million then the goodwill is in the amount of Baht 99.44 million recorded into the consolidated financial statements in 2018