THB 852mn in the same period last year to THB 1,077mn. The strong growth is driven by the robust performance across its Out-of-Home (“OOH”) business segments. REVENUE BREAKDOWN (THB MN) % Contribution

-term investment amounted to THB 4,038 million; with total liabilities of THB 3,762 million; and total equities of THB 9,080 million. In this regard, The Company is still in a strong financial position

investment amounted to THB 3,890 million; with total liabilities of THB 3,528 million; and total equities of THB 9,265 million. In this regard, the company remains strong in a financial position with low debt

the previous year, mainly due to the sharp lower of purchasing power in most industries, as well as the strong competition in the stainless steel pipe, aluminum and copper. This caused the decreasing in

external factors, such as the overall domestic economic condition causing diminishing confidence and lower purchasing power, international trade war, and the appreciation of Thai Baht. The Company focused

strong with low debt-to-equity ratio and high current ratio. P a g e | 3 - Management Discussion and Analysis 1Q2020 - 4,346 1,714 2,942 881 1,102 900 83% 17% 61% 39% 77% 23% 1Q2020 1Q2019 4Q2019 2,816

major negative impact to temporarily interrupted in economy from power purchasing retardation in domestic and foreign and lacking of imported materials such as automotive production, electronic devices

resilience to economic conditions. During the COVID period, JMART had a very strong business group including JMT and Singer. 2. Adaptive Expectation The management has Lock down anticipated and ongoing

additional revenue that more or less fulfill the loss of regular hospital revenue. Furthermore, the Company has implemented cost saving measures to maintain its operating results for continuous growth. In

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