Bill of Exchange that expired during the period. Moreover, the Debt to equity (D/E) ratio decreased from 1.12 times at 31 December 2017 to 0.52 times in 2018, which is the lowest rate since the Company

of the company 393.47 202.01 191.46 94.78 Basic Loss Per Share (Baht) -0.16 -0.09 Gross Margin -16.39% 4.53% Net Profit Margin -82.23% -15.27% Debt to Equity Ratio (Time) 2.14 1.78 Total Expenses

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

purpose of borrowing money is in compliance with Clause 4; (2) a lender is not fund supervisor of the infrastructure mutual fund; (3) financial leverage ratio of the infrastructure mutual fund shall conform

against risk, and greater than the Bank of Thailand’s requirement. As evidenced, capital adequacy ratio (CAR) of KASIKORNBANK FINANCIAL CONGLOMERATE (the Conglomerate) according to the Basel III Accord was

financing activities of THB 210 million was mainly from proceeds from long-term loans in Myanmar during the period. Financial Ratio Analysis Q1’20 Q1'19 Liquidity Ratios Current ratio (times) 1.3 2.4 Number

the customers and recognize continuously the revenues as planned whereby reduce further its debts by repaying these to the financial institutions, the debt to equity ratio may decrease further by year

1st Quarter Ended 31 March, 2019 Page 9 5. Significant financial ratios (excluded the effect of foreign exchange rate) 2019 2018 1) Current Ratio (Times) 2.36 3.02 2) Profit to Total Revenue (excluded

, showing strong liquidity position and financial stability. Debt to equity ratio was at 0.4 times. 2,819 3,149 1,965 99 (1,734) Beginning cash and cash equivalents (31 Dec 2019) Net cash from operating

Liabilities 251,227 75 % 239,284 74 % Retained earnings 60,675 18 % 58,252 18 % Others 25,141 7.5 % 25,234 7.8 % Total Equity 85,816 25 % 83,486 26 % Key Financial Ratio 3Q22 2Q23 3Q23 Interest-bearing debt to