Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 Translation UWC 031/2560 August 10, 2017 Subject : Management Discussion and Analysis for quarter 2-2017 To

Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 1 Translation UWC 023/2562 August 16, 2019 Subject : Management Discussion and Analysis for quarter 2-2019

Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 Translation UWC 028/2018 August 10, 2018 Subject : Management Discussion and Analysis for quarter 2-2018 To

consumption to decline. Especially, from the tourism sector and airlines had to suspend services. With the culmination of events being the declaration of the state of emergency and social distancing policies

foods and desserts from reputable proprietors to be sold in various branches, and participating in the “Taste, Shop, Spend” program launched by the government. Overall, from the expansion of branches, the

a government agency. The project has been commenced in early 2017. Retail business In 2Q17, the Group generates revenue of Baht 812 million from retail business, which is increased by Baht 275 million

project values than the previous quarter. This was partly due to the expansion of government investment expenditures regarding the distribution of transportation agencies. Many IT projects have been

the country. Public spending contracted compared to the same period last year due to the decreased in both regular and capital expenditures by the central government. In addition, they were disbursed in

overall economic conditions have dampened consumers’ spending, despite a spate of government stimulus measures such as the state welfare card and the ‘Eat, Shop and Spend’ project in the second half of 2019

competition in industrial market. Marketing margin was at the similar level of Q1/2017, while the Non-oil business recorded a higher revenue from expansion of the branches, but has been under developing and