1. The outbreak of Corona Virus Disease 2019 (COVID-19) Since the end of February 2020, the government and private companies allowed the employees to work at home to prevent the further spread of the

pandemic. The pandemic severely affects both external and domestic demand in tourism, manufacturing, and exporting sectors, as well as softens private consumption indicators. The outbreak also led to

prices as well as the decline in public and private consumption. The tourism industry, especially in the hotel, transportation and restaurant businesses, was hard hit by the impact of COVID-19 outbreak

footprint in Vietnam market  On 21 January 2020, MACO, through VGI MACO (Singapore) Private Limited1 (“VGIMS”), announced to expand its footprint into the Vietnam market – a high growth potential country

through to the domestic economy. The downturn in the goods-producing sector intensified, while agricultural output continued to fall amid a lingering drought. Consequently, annual private consumption growth

result, Private investment has declined dramatically while the Tourism sector has not yet recovered. The overall economic support comes from the government spending. Both fixed expenses and capital

% (y-y) in the first quarter. The main supporting factors were the return-to-expansion of export goods and private investment. On the other hand, the third wave of the COVID-19 pandemic continues to

and margin. • Review new system and reporting platform to improve visibility and analysis across all categories and consolidate the planning and open-to-buy process. • Review of private label

system and reporting platform to improve visibility and analysis across all categories and consolidate the planning and open-to-buy process.  Review of private label assortments to refresh current

travel restrictions which affect the number of both Thai and foreign tourists. In addition, purchasing power of consumers is thoroughly affected and this negatively impacts private consumption, although