loans from financial institutions of THB 1,044mn, which was partially offset by repayment of loans from financial institutions THB (1,735)mn. BUSINESS PLAN AND OUTLOOK In 2020, our Hospitality business

Analysis Q1/2020 G J Steel Public Company Limited Page 2/13 2. Business Outlook Total Hot Rolled Steel consumption for the 1st Quarter of 2020 stood 1.56 million MT and decreased by 3.4% compared to same

possible to do so. MANAGEMENT DISCUSSION & ANALYSIS 1Q 2020 15 MAY 2020 U CITY PCL 1Q 2020 - MD&A (for three-month period ended 31 March 2020) 11 U CITY PCL BUSINESS PLAN AND OUTLOOK The epidemic from a new

Advertising 14.1% Advertising 47.8% System Integration 52.2% MANAGEMENT DISCUSSION & ANALYSIS FOR THE 3-MONTH ENDED MARCH 2020 (3M 2020) 15 JUL 2020 MASTER AD PUBLIC COMPANY LIMITED 8 MANAGEMENT OUTLOOK The

BUSINESS PLAN AND OUTLOOK The pandemic from a new strain of corona virus (COVID-19) has affected the global economy, society, and way of life like never before. The hospitality business and related

power and increased price competitiveness. For the business outlook for Q3/2020, the trend of the Thai economy is expected to contract compared to the same period of 2019 from the COVID-19 pandemic

cost attributed to the slash in total revenue and net loss at THB 612m. Page 2 of 9 Singha Estate Public Company Limited Management Discussion and Analysis 2Q20 Significant Events and 2H20 Outlook The

recovered. Bank of Thailand has adjusted down Thailand economic outlook forecast to a contraction of 8.1% for 2020, instead of 5.3% contraction previously forecasted. The crisis of the COVID-19 pandemic has

rating: AA+ (THA), Outlook: Stable Total Equity 75,689 22% 71,657 20% S&P BBB+, Outlook: Stable Source and use of fund 1Q21(Bt mn) Source of fund Use of fund Operating cash flow 21,245 CAPEX & Fixed assets

licenses were made in 1Q21. Total Liabilities 274,481 78% 290,976 79% Retained earnings 51,382 15% 54,125 15% Credit Rating Others 24,307 6.9% 24,545 6.6% Fitch National rating: AA+ (THA), Outlook: Stable