page1 from 4 13 May 2020 Subject : Management Discussion and Analysis Quarter 1 Ending 31 Mar 2020 To : The President The Stock Exchange of Thailand WICE Logistics Public Company Limited would like

% with net interest income increased by 9.4% driven by lower interest expense from continuous cost management while non-interest income decreased by 26.9% from the slowdown in economic activities

administrative expense was 145.44 million baht and bad debts and doubtful accounts expense was 63.57 million baht. The Total Assets was 50,880.93 million baht, the total liabilities was 43,209.91 million baht and

was 236.56 million baht, the selling and administrative expense was 138.03 million baht and bad debts and doubtful accounts expense was 29.56 million baht. The Total Assets was 48,976.18 million baht

236.56 million baht, the selling and administrative expense was 138.03 million baht and bad debts and doubtful accounts expense was 29.56 million baht. The Total Assets was 48,957.20 million baht, the

expense in various categories such as employees and marketing expense. Other revenues was Baht 4.53 million. It decreased Baht 2.74 million or equivalent to 37.72% compared to previous year by receiving

February 16, 2011. After the review on the company?s third quarterly financial statements was unable to satisfy whether the advertising expense was in line with the market price and whether the service of

right of the Company. 4 Administrative Expenses Type of administrative expense Consolidated Financial Statements For the quarter ended 31 March 2017 2018 Changes Million Baht % Million Baht % Million Baht

decreased. 3. The company had total administrative expenses of THB10.18 million decreased by THB2.23 million from the same period of last year or 17.97% decrease because employee expense and other

the cost of infrastructure service in 2018 than those of infrastructure service income comes from the road maintenance expense and the new sanitary landfill expense. ▪ In 2018, the company recognizes