line with higher sales volumes. Administrative expense increased mainly as a result of higher staff costs due to a higher headcount, a new minimum wage adjustment and annual salary increases from the

to 13.2% in the previous quarter. Selling expense increased in line with higher sales volumes. Administrative expense increased mainly as a result of higher staff costs due to a higher headcount, a new

Translation CEN 003-2018 February 23, 2018 Subject : Management Discussion and Analysis for business operation of year 2017 To : The Manager and President The Stock Exchange of Thailand Business

sales in the car dealerships business in both Thailand and Malaysia. These decreases were partly compensated by higher sales in the automotive part business in Thailand, which grew in line with industry

-9320 1 Ref: PLC 2019/009 August 8, 2019 Subject: Management Discussion and Analysis Quarter 2 Ended 30-June-2019 To: The President of the Stock Exchange of Thailand Panjawattana Plastic Public Company

. Costs and expenses for the year 2018 decreased by 81% compared to the same period of 2017. The main reasons were:  Cost of goods sold and rendering of services decreased by 31% in line with the decrease

other related agreements. 5. Expected Benefits It is in line with the Company's strategy to invest in natural resources business, which is jointly investing with Seacrest in the world class assets with

, golf cart fees and food & beverages. For the property management business, revenue also improved. (2) In this quarter, the Company recorded total costs and expenses of THB 1,243.46 million, increase by

No. INGRS066 30 March 2021 Subject : Management Discussion & Analysis (MD&A) for the consolidated financial statements for the financial year ended 31 January 2021 To : The President The Stock

an external provider of warehouse and logistics management services, whereas the Company did not incur such expense in the corresponding period of 2018. It was also ascribed to a total increase of