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
79% Retained earnings 51,382 15% 50,239 14% Credit Rating Others 24,307 6.9% 24,604 6.9% Fitch National rating: AA+ (THA), Outlook: Stable Total Equity 75,689 22% 74,843 21% S&P BBB+, Outlook: Stable
complete the first franchisee contract by this year Outlook on business opportunities from lift of curfew measures With the government measures to control the spread of COVID-19 pandemic, especially the
Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in 2018 and Outlook for 2019 1 1.2 Banking Industry, Competition and Emerging Risks 2 1.3 Regulatory
developments warranted a close watch, particularly in US politics, which were a drag on the implementation of economic stimulus measures and tax reform. In addition, Britain’s economic outlook was obscured by
-China trade negotiations and Brexit risks. The World Economic Outlook of the International Monetary Fund revised downward its global economic growth projection for 2019, to 3.3 percent from the previous