of economic activities. 3Q20 performance; however, would not fully bounce back to the pre-COVID band due to the Company’s spending on marketing activities to promote goods and services of tenants in

contraction was -3% vs Q1 2019. This will be much worse in Q2 with a double-digit contraction, and on annualized basis, the IMF forecast for Thailand is now -6.5% in FY 2020 with a bounce back expected in 2021

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