assets resulting from investment in projects for growth in the next 2-3 years. 5. Debt to Equity ratio for the 3-month period ended 31 March 2018 and for the year ended 31 December 2017 was 0.9 time and

the THB that affected the value of the Company’s overseas assets. • Net debt to equity ratio as of 31 December 2019 stood at 0.48x, an improvement from 0.55x in 31 December 2018. SIGNIFICANT EVENTS

launch in the fourth quarter of 2024. Overall, the company continues to maintain steady growth in both sales and profits. 2. Significant events and developments The company has a total of 1 1 5 branches

8,875m, increased by 128% YoY. Major drivers of such growth were 298% increase in revenue from sales of house and condominium together with 38% increase in revenue from rental and services which mainly

coverage to 8 provinces nationwide Growth from sales of the Mikka franchise as expected During the new outbreak of COVID-19 pandemic, the Company focuses on pop-up stores by adding more service points to

Bank’s loan portfolio for 1Q21 expanded by 2.1% from the end of 2020 with growth driven by hire purchase, housing and real estate lending segment. For asset quality, the Non-Performing Loans (NPLs) to

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4

conducive to the continuation of economic growth and was appropriate given the inflation target. However, the MPC cited that the need for currently accommodative monetary policy would be gradually reduced

growth. In 2019, the real estate sector was beginning to face a slowdown as a result of various negative factors, particularly the Bank of Thailand’s Loan to Value (LTV) measure. The situation is worrisome

the growth in sales from dessert cafés which was a result of the same-store-sales growth, corresponding to the increased in number of customers dining in at the branches, as well as the increase in the