cost attributed to the slash in total revenue and net loss at THB 612m. Page 2 of 9 Singha Estate Public Company Limited Management Discussion and Analysis 2Q20 Significant Events and 2H20 Outlook The

shareholder in the amount of USD 9.51 million. The Company additionally received opportunity cost in the amount of Baht 10 million. Such sale of shares is a termination of joint investment for the development

of creditors. In cost of sales due to the company had sales volume decreased in 2019 as result to the costs of goods and services decreased amount of 34.99 million Baht or decreased 11.49% compared

causes some income to be reduced. However, the company immediately reduced the cost, in terms of rental costs and administrative costs, employee cost adjustments and utility costs. This puts the impact at

% from Q3/2020 and 24% from 9M/2020 due to a decrease in revenue while the Company still recognized a stable fixed cost. • EBITDA margin in Q3/2021 was 20.7%, decreased from 32.7% in Q3/2020 and in 9M/2021

from the said project while simultaneously cutting the cost of system development at the same time since 3Q / 2019. 5. Hire Purchase Business In 2019, Singer Thailand Public Company Limited ("Singer

GJS บริษัท จี เจ สตีล จำกัด (มหาชน) G J Steel Public Company Limited Management Discussion and Analysis Q1/2020 G J Steel Public Company Limited Page 1/13 Management Discussion and Analysis Q1/2020 1

2020, the Company and its subsidiaries had cost of goods sold of Baht 383.13 million, or accounting for 91.97 percent of the total revenue in comparing with Baht 638.35 million, or accounting for 88.00

three months ended 30th June 2019, the Company and its subsidiaries had cost of goods sold of Baht 638.35 million, or accounting for 88.00 percent of the total revenue in comparing with Baht 743.25

budget risk especially for the High Cost Care (AdjRW> 2). Moreover, The Company expects to receive an improved payment term from Social Security Office. - Opening of Kasemrad Hospital International