Microsoft Word - MD&A Y2019 - THAI revised.doc 1 ASIA’S BOUTIQUE AIRLINE คาํอธ ิบายผลการดาํเนินงานและการวเิคราะห์ฐานะทางการเงนิ สําหรับผลประกอบการปี 2562 สิน้สดุวนัท่ี 31 ธนัวาคม 2562 ของบริษัท การ

Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference (UNOFFICIAL TRANSLATION) Readers should be aware that only the

Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference (UNOFFICIAL TRANSLATION) Readers should be aware that only the

Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference (UNOFFICIAL TRANSLATION) Readers should be aware that only the

Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference (UNOFFICIAL TRANSLATION) Readers should be aware that only the

Thai Baht currency value of the transaction on the date of entry into the transaction or on each agreed payment instalment date of the agreement may be subject to change and may increase or decrease

Company Limited --> MTC 3. Character of Transaction : KYE entered into the Thai Baht Pooling Service Agreement with MTC Whereby MTC : Agree to provide management service relating to Thai Baht current

Company Limited --> MTC 3. Character of Transaction : KYE entered into the Thai Baht Pooling Service Agreement with MTC Whereby MTC : Agree to provide management service relating to Thai Baht current

Company Limited --> MTC 3. Character of Transaction : KYE entered into the Thai Baht Pooling Service Agreement with MTC Whereby MTC : Agree to provide management service relating to Thai Baht current

has entered into the Shareholder’s Agreement of Thai Pipeline Network Company Limited (TPN) to acquired 44.60% ownership interest. TPN operates oil transportation service business with pipeline