Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the year ended 31 March 2020 Executive Summary Thai Economy in the first quarter of 2020 happened into recession due to

contract in the amount of THB 78 million. As for BCP Trading Pte. Ltd. , the company recorded more revenue from the amount of trade transaction and the significant increase in oil price. Management

Change Amount % Change Total Revenues 7,792 7,550 242 3.2% Sales and service income 7,624 7,300 324 4.4% Gains on Exchange rate 69 175 -106 -60.3% Other Income 99 75 24 30.8% Cost of Sales and Services

economic policy. But, the global economy trend as continued to improve. Thai economy is growing as slowly which the tourism and exports were driving force in past time. Including, the income and unemployment

The financial statements for the first quarter ended March 31, 2020 were prepared in accordance with the Thai Financial Reporting Standard No.9 Financial Instruments (TFRS 9) and Thai Financial

last year which was 36.1%. The lower in gross profit margin came from the reason that the Company firstly adopted the Thai Financial Reporting Standard No. 15, subject to Revenue from Contracts Made with

of Thailand and NESDB, overall Thai economy in 2017 expanded by 3.9%, higher than 3.3% growth in 2016. This was mainly from acceleration of private consumption, export sector, and private investment in

and Exchange Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between the two languages, the Thai

Governance Project" of the Securities and Exchange Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between

(UNOFFICIAL TRANSLATION) Readers should be aware that only the original Thai text has legal force, and that this English translation is strictly for reference. 2 Notification of the Securities and