million Baht. The continuously realized losses is the main reason which the subsidiaries company's operations are ceased their business operations. Gross Profit (Loss) The Company has a gross profit from

statement applicable to the offering of units; “infrastructure business” means the infrastructure business specified in the Notification of the Capital Market Supervisory Board concerning the Rules

consumption from private sector. However, expenses from the government sector, and tourism industry sector continued to increase, partly benefited from the return of Chinese tourists, and a decline of the

government spending into infrastructure projects which lead to a continuous growth of Thailand’s electricity consumption. The trend of the power industry in the second half of 2017 is estimated to be lower

per hour. 1.4 The Signing of Project Development for Xe Kong 4A and 4B Hydroelectric Power Project in the Lao People’s Democratic Republic On May 29, 2018, the Company and the Government of the Lao

offer for GLOW’s remaining share of 4.75% at the offering price of 90.8136 Baht per share, in which the tender offer period will be of 45 business days from 25 September to 28 November 2019 and the

limited, or a public company limited incorporated under Thai law; (2) a foreign commercial bank whose branch the SEC Office has approved to operate commercial bank business in Thailand in accordance with

entities established under foreign law: (1) a foreign government agency or organization; 2 (2) an international organization; (3) a foreign juristic person. “debt securities” means newly issued debt

30 SEPTEMBER 2020 LH Financial Group Public Company Limited Management Discussion and Analysis for the Third Quarter ended 30 September 2020 Page 2/19 Overview of Business Operation LH Financial Group

investment in subsidiary of 12 million Baht and allowance for doubtful accounts of 2.78 million Baht. The fluctuation of CPO price mentioned above had reflected the Company's business operation in the