Management Discussion and Analysis 1 Ref: AC.017/2020 18 May 2020 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange

, the company continues to improve its structure and cost management. By dissolving the printing and shipping department which we informed on September 29, 2017, the project has been successfully and we

. The company had increased distribution costs of Baht 85.43 million or 64.67% due to the company changing the sales management structure with distributor. The company is responsible for marketing and

past, there are significant changes in groups including management structure, business operation structure and management strategy in order to increase business efficiency and growth, moreover suspend

from the announcement. Financial structure The Company emphasizes the importance of financial structure management efficiency which should be flexible in difficult circumstances and able to maintain the

. Units and unitholders information 8. Management structure 9. REIT supervision 10. Social responsibilities 11. Internal control and risk management 12. Preventive measures against conflicts of interest

on the customers’ specification, that might be 100% cotton or cotton blend fabrics. Over the past 3 years, the Company had no significant changes neither capital structure, management nor business

customers’ specification, that might be 100% cotton or cotton blend fabrics. Over the past 3 years, the Company had no significant changes neither capital structure, management nor business operations. 1.1

structure management. It has to be flexible in times of economic turmoil and financial costs must be maintained at appropriate level. In addition, the financial policy must be implemented with caution and the

structure + (-) 3 | MANAGEMENT DISCUSSION AND ANALYSIS FOR Q1-2020 The Group recorded THB 257.35 million of total revenue in Q1-2020, decreased by 27.26% comparing to THB 353.79 million of the same period