collection and there is a fully amortized bad debt portfolio increase. JAS Asset JAS Asset is expected to transfer property for sale, a condominium, in 2019 and expect to completely transfer in 2020. J
enhancements benefitting both the top and bottom line as we expect 2020 to be a more successful year” 2. Outlook Economic growth was approximately 1.6% in Q4 2019 compared to the same period last year with
Water sales volume increased by 6.0% YoY mainly from COD of Gulf VTP Power Plant in May 2017. 3 c. 3 additional SPPs currently under construction are scheduled to achieve COD in 2017. We expect the
quarter of 2020. Considering the Company’s separate financial statement, the operating and administrative expenses as a percentage of total revenues was down to 35% in the first quarter of 2020. - Expect
were also higher, but these are investments into the future competitiveness of the company. On the upside we expect to see some of the variable cost pressure, notably fuel, to ease in the following
relating to employee incentives. On the upside, the maintenance, which would have occurred later in the year, is now complete so we do not expect major maintenance activity in H2 and have the ability to run
ease this pressure, and with the upward trend in prices, we will continue to expect healthy margins.” 2. Outlook Overall Thai economic activity in the first quarter of 2018 beat expectations with an
quarter of 2020. Considering the Company’s separate financial statement, the operating and administrative expenses as a percentage of total revenues was down to 35% in the first quarter of 2020. - Expect
the net expected return (after trading costs) is higher than zero. Hypothesis construction • H2: With respect to the type of market participants, we expect retail investors to be more likely to
area. The Company is expect to get higher income from this business as well. Thus, you have been informed for your acknowledgment. Sincerely Yours, -Singed - (Mr. Suphot Wanna) Chief Executive Officer