Management Discussion and Analysis For the first quarter ended 31 March 2020 (reviewed) Ratchthani Leasing Public Company Limited May 13, 2020 Subject : Management Discussion and Analysis For the

Management Discussion and Analysis for the 2st Quarter 2017 ended August 31 Management Discussion and Analysis for the 2 st Quarter 2017 ended August 31, 2017 AEON Thana Sinsap (Thailand) Public

rental and utilities expenses increased by Baht 1.04 million because the Subsidiary has leased space to be its own office to support the expansion of water management business. 7.3 The other increased by

increase was affected an increase in number of employees that were recruited to support to business expansion. The management expenses also increased by Baht 16.72 million from the Company’s subsidiaries

expansion of Innotech Asset Management Co., Ltd. and SE Digital Co., Ltd., our subsidiaries. However, the financing cost decreased from last year from lower borrowings. The Company also received debt

increased from the same quarter last year from the group's business expansion to mutual fund management and ICO portal business which have commenced full operation by two subsidiaries.  Fee and service

the expansion of studio business in Singapore and healthy food business. This resulted in the share of profit from Absolute Yoga of Baht 7.46 million in this year, comparing with the share of loss of

, respectively to facilitate the expansion of VH management services in Thailand 14 May 2018: VI acquired shares in Vienna House Asia Limited, a JV company between VI and Absolute Hotel Services Hong Kong with a

2018 earned of THB 42.6 MB. The Company has a road map for sustainable growth. The Company has planned for sufficient in inventory space for efficiency stock management and future expansion in the new

sufficient in inventory space for efficiency stock management and future expansion in the new site. Additionally, the company can extend the products line for business diversification including I-RETAIL