expense has decreased from the bond repayment in the fourth quarter of 2019 and second quarter of 2020. 6. Income tax expenses were Bath 203.56 million, a decrease of Baht 146.84 million or down by 41.91

repayment in April 2020 and to mitigate risk from the money market fluctuation during COVID-19. However, compared to the six- month period of 2019, the finance cost in the same period of 2020 increased by 0.7

MRTA is fully responsible for both loan repayment and interest expense in accordance to the concession agreement) to financial liabilities which measured at amortized cost with effective interest rate

22.2%. The decrease was due to income tax paid of 18.5 million Baht and repayment some trade accounts payable. (2.2) Non-current liabilities as of December 31, 2019 amounted 105.7 million Baht compared

of THB -276.6 Mn. This was mainly due to in 2019, the Group recorded the net cash from Financing Activities which was offset by (1) cash received from IPO THB 952.1 Mn and (2) net repayment of short

repayment of financial lease of Baht 3.61 million, interest payment of Baht 1.11 million and repayment of short-term loan of Baht 189 million. - 6 - (2.7) Financial Ratios Financial Ratios As at March 31

70.00 million Baht from sale of assets that the Company can further utilize as debt repaymentfor repayment of certain amount of commercial debts of the Company, which will relief risks from litigation to

same period of 2020, a decrease of THB -317.9 Mn. In 2019, the Group recorded the net cash inflow from the IPO of THB 952.1 Mn which was partially offset by (1) net repayment of short-term borrowings

collateral as specified in the loan agreements in order to receive payment under the Power Purchase Agreements, to reserve for adequately principal repayment and interest and to reserve for repair and

as specified in the loan agreements in order to receive payment under the Power Purchase Agreements, to reserve for adequately principal repayment and interest and to reserve for repair and maintenance