reduction in spending through more efficient SG&A control, such that A&P have been cut or shifted to ensure optimum return on investment. After including dividend received from investment in Unicharm at the

efficient allocation of resources. It focuses on the quality and consistency the different elements of regulations that influence corporate governance practices and the division of responsibilities between

to replace the less energy efficient ones in order to conserve energy, but this year the Retail Chain had delayed the investments. Profit for the period The Company's profit of the quarter was 3.3

the economic sector. Thus, FETCO will be able to bring more efficient cooperation with both public and private sectors.    Under the proposed law, the structure of the Capital Market Federation of

-3.4% YoY. Expected growth in FY23 focusing on profitability through quality revenue and efficient cost allocation 2023 will be a year of transformation towards a Cognitive Tech-Co that aims to

of proceeds bond as a Green Bond should be determined by the issuer based on its primary objectives for the underlying projects. (bonds that intentionally mix eligible Green and Social Projects are

entering the Company’s properties. Page 5 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 Additionally, the Company puts an emphasize on efficient cost management to

profit margin for the year 2019 was mainly due to differences in product mix and the impact derived from adoption of USD as the Company’s functional currency which in resulting of lowered cost evaluation

well as sales mix management in each product category efficiently. However, the Company still strictly controlled on the selling and administrative expenses. For the twelve-month period ended December 31

to 4.74% in 2019. The increase of gross profit margin was mainly due to differences in product mix and the impact derived from adoption of USD as the Company’s functional currency which in resulting of