institution as the highest rank persons with managerial authority who are capable of management, ethical, honest, understand and responsible for business undertaking; (4) having determined clear scope of

Paragraph 1(1) (a) 4. of clause 18 shall rank the highest in short-term issue rating or the three highest in long-term issue rating. In the case where bill of exchange or promissory note under Paragraph 1

type of instrument or securities. Clause 18/2 4 Bill of exchange or promissory note that the securities company will invest under Paragraph 1(1) (a) 4. of clause 18 shall rank the highest in short- term

of instrument or securities. Clause 18/24 Bill of exchange or promissory note that the securities company will invest under Paragraph 1(1) (a) 4. of clause 18 shall rank the highest in short- term

Phatra Securities Plc. for 1Q21 was at 10.84%, continuing to rank 1st from total of 38 brokers. Overall market environment The Thai economy started out at a slow pace in January 2021 due to the resurgence

highly intense competition which caused the average fare to drop by 6.3 percent, particularly in Indochina routes. The average passenger load factor was 68.5 percent, decreased from 69.2 percent. Passenger

the Company’s expectation given the intense competition in certain areas, such as Nakhon Ratchasima. Although rental rate escalations were affected and discount rates were higher in certain locations

mainly from airport-related services and unallocated revenue which rose by 11.6 percent and 35.0 percent respectively. The revenue from airline business slightly declined by 4.2 percent from highly intense

slightly declined by 4.2 percent from highly intense competition particularly in domestic sectors which caused overall number of passenger, passenger yield and average fare dropped by 1.9 percent, 1.6

Company Limited Management’s Discussion and Analysis (MD&A) Page 5 of 14 Same store rental revenue growth stood at 4.2% YoY In 2Q19, same store rental revenue growth stood at 4.2% YoY, despite intense