sales (-20.1% YoY) and lower revenue from OEM sales (-30.1% YoY). The decrease in OEM sales were mainly from lower OEM glass bottle sales (- 25.4% YoY) which were gradually recovering after the start-up

have gradually stopped providing fixed-speed unlimited price plans and expect the impact of suppressed ARPU to slowly be unwind. Handset subsidies remained elevated in 4Q18 due to seasonality while

that are under construction; 2) THB  632.8mn decrease in condominium purchased for sales when The Diplomat 39 and The Diplomat Sathorn were gradually transferred and recognized as revenue; 3) THB 534.8mn

and The Diplomat Sathorn were gradually transferred and recognized as revenue. Liabilities   As of 31 December 2019, the Company’s total liabilities stood at THB 7,174.9mn, a decrease of THB 1,432.9mn

% of revenue from sales, gradually increased from 1.68% in 1Q2019. GFPT Public Company Limited Interim Management Discussion and Analysis for the 1st Quarter 2020 Page 4 of 11 Selling General and

people work from home resulting in the decrease in MRT ridership especially in April 2020 and gradually increase after the government relief measures. However, the ridership was slowly recovering than the

, the government had carefully eased its measures to restore the business sector. Consequently, the business activities began to recover as well as the patients’ traffic was also gradually recovered

Page 1 of 9 Singha Estate Public Company Limited Management Discussion and Analysis 2Q20 Executive Summary Since May 2020, restriction has gradually been lifted and lockdown measure started to be

of the COVID-19 will gradually recede and there should be consideration for the easing of the lockdown restrictions by the Government, respectively. Once the Group’s operations are allowed to open as

-19 outbreak and to alleviate economic downturn. Although, many countries have gradually relaxed the lockdown measures, and businesses resumed their operations, consumer spending is still not yet fully