) the decrease in selling and administrative expenses of gourmet food and beverages “DEAN & DELUCA”; regarding that the Company made a great effort to reduce unnecessary costs including marketing expenses

and reducing unnecessary operating expenses coupled with developing digital and online platform, monetizing brand and focusing more on consumers. In addition, entering into such transactions will help

Saving Measures The Company is strictly implementing cost saving measures to preserve its liquidity. • Cutting unnecessary expenses and maintain strict cost control e.g. suspension of staff travel

the COVID-19. Cost Saving Measures The Company is strictly implementing cost saving measures to preserve its liquidity. • Cutting unnecessary expenses and maintain strict cost control e.g. suspension of

mall and become a convenient gathering for customers. Prudent Financial Management and Funding Strategy In 2017, CPN’s average cost of fund stood at 2.81%, lower than the previous year at 3.23

into the service with unnecessary reason in order to obtain the soft commissions for the fund from such person (churning); In allocation of such soft commissions under paragraph one for funds under

) Shall not have any matters showing that management company enter into the service with unnecessary reason in order to obtain the soft commissions for the fund from such person (churning); In allocation of

, reduction of expenses and deferring unnecessary investment projects. Accordingly, the Corporate Group has been able to maintain good gross profit margin and achieve higher net profit. - 2 - (2) Analysis of

unnecessary expenses. Cut salary of all executives and some levels of employee. Reduced office hours at corporate office by implementing work from home. - Looked for additional income such as operating a food

have any matters showing that management company enter into the service with unnecessary reason in order to obtain the soft commissions for the fund from such person (churning); In allocation of such