-current assets Restricted bank deposits 46.18 2.17% 46.18 1.97% Investment in associate 11.19 0.53% 9.67 0.41% Long-term investment 4.02 0.19% 3.51 0.15% Property, plant and equipment 583.97 27.42% 544.27

0.000 ¢Í§ÁÙŤèÒ·ÃѾÂìÊÔ¹ÊØ· Ô̧ ¤èÒ¸ÃÃÁà¹ÕÂÁ¸¹Ò¤Òà (Bank Charge) à»ç¹¨Ó¹Ç¹à§Ô¹ 0.86 ºÒ· (˹èÇ : ¾Ñ¹ºÒ·) ËÃ×ͤỐ à»ç¹ÃéÍÂÅÐ 0.000 ¢Í§ÁÙŤèÒ·ÃѾÂìÊÔ¹ÊØ· Ô̧ ¤èÒ«×éÍàªç¤ (Cheque Expense) à»ç¹¨Ó¹Ç¹à§Ô¹ 0.93 ºÒ

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ดังกลาวมีสาระในลักษณะ เดียวกับทีก่ําหนดตาม MMOU ตาม (ก) และหนวยงานกํากับดูแลดังกลาวมีอํานาจตามกฎหมาย ที่จะสามารถใหความชวยเหลือแกสํานักงานไดตามบนัทกึความเขาใจนัน้ (ค) เปนสมาชกิของ Bank for

(MPC), Bank of Thailand, had cut the policy rate 3 times, from 1.75% p.a. down to 1.00% p.a. in February 2020. This is the lowest record, lower than the rate during 2009 following the Hamburger crisis

assets 575 565 1.9% Total non-current assets 2,679 2,805 (4%) Total Assets 4,156 4,668 (11%) Bank overdrafts and short-term loans from financial institutions 1,439 1,536 (6%) Account payables 373 413 (10

Page 1 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 Executive Summary Bank of Thailand, in late March 2020, slashed its forecast for Thai economy from the

0.25% Total current assets 1,453.46 68.61% 1,714.03 73.08% Non-current assets Restricted bank deposits 46.18 2.18% 46.18 1.97% Investment in associate 11.63 0.55% 9.67 0.41% Long-term investment 3.46

coronavirus outbreak, which began at the start of 2020, has had unprecedented impact on the global economy, therefore, this year will be very challenging for all businesses. As for the Thai economy, the Bank of