FOR Q1-2020  Revenue from transmission and telecommunication tower decreased by 50.87% QoQ as a result of rescheduling of delivery plan by major customer.  Revenue from sale of electricity rose by

by 36.1 percent form Q4-2016 because the project has already been delivered and recognized the accomplishment of the project completed rather than those in Q4-2016, due in 2017 the government has

by 36.1 percent form Q4-2016 because the project has already been delivered and recognized the accomplishment of the project completed rather than those in Q4-2016, due in 2017 the government has

accomplishment of cost management policy, 2 | MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR 2020 • Gross margin: UWC has recorded gross margin since Q1-2020 due to accomplishment of cost management policy

last year (“QoQ”). • Revenue from transmission and telecommunication tower decreased by 50.87% QoQ as a result of rescheduling of delivery plan by major customer. • Revenue from sale of electricity rose

second quarter of 2019, representing for 28.96 percent, which results from the delivery of work to customers that have been postponed from the previous year and recognized revenue according to the success

transmission and telecommunication tower decreased by 42.19% YoY being impacted by the COVID- 19 outbreak resulting in delivery rescheduling by major customer. • Revenue from sale of electricity decreased by

strategic plan, policy and objective in undertaking fund management business for short and long term. Objective should be set for the short-term plan and criteria/factor for evaluation of the accomplishment

relatively high delivery project value. Furthermore, in Q2–2020, the Company was affected by the ongoing outbreak of COVID–19 which caused the customers change their work methods and slow down their operation

the delivery of equipment or project until this situation can be controlled. Therefore, the operations and delivered projects are delayed, resulting in the decrease of revenue in Q1– 2020. In terms of