possibility to renew the agreement for another 3 years, based on the project’s performance, with 3,000 users daily or 1,200,000 users and expecting to generate at least Baht 1,000,000,000 in revenue annually

packaging business is not less than 21 11.50%. If it is in line with the plan and projection, it is expected that the Company will generate operating profit for the year within 4 years after the expansion

transferred or placed as collateral. “assets” means (1) rights of claim which generate a flow of receipts in the future; or (2) rights of claim coming into existence in the future which determine debt repayment

collateral. “assets” means (1) rights of claim which generate a flow of receipts in the future; or (2) rights of claim coming into existence in the future which determine debt repayment in cash and generate a

management service to other companies so as to generate recurring income for the organization. All aspects of the business operation are revised, enabling the Company to grow in a sustainable manner and in

investment LPN made in the above real estate development project and the establishment of a joint- stock company is to bring about long-term business growth. It will generate more income for LPN as it is

Company of Baht 38 million. The Company has maintained a low debt to equity ratio with steady growth in its shareholders’ equity from fund mobilization via the IPO and could generate retained earnings from

generate retained earnings from operation, while incurring an insignificant amount of total liabilities. The Company and its subsidiaries recorded a debt to equity ratio of 0.13 times. Yours sincerely, Mr

mobilization via the IPO and could generate retained earnings from operation, while incurring an insignificant amount of total liabilities. The Company and its subsidiaries recorded a debt to equity ratio of

. Management Discussion and Analysis (MD&A) for 2019 Page 5/5 Looking Forward In 2019, the Company was able to generate revenue from business expansion quite well, which could be achieved according to the target