unchanged. Administrative Expenses The Company has the administrative expenses in the first quarter in the amount of 78.5 million Baht or equal to 7.1 percent of the revenue from sales. The ratio between

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending March 31, 2020 The Thai economy in the first quarter of 2020 sank into a recession due to the COVID-19 pandemic. Economic activity was crippled almost across the board in light of lockdown measures implemented in several countries to contain the viral transmission. Financial markets went into a tailspin, whereas turbulence was seen in manufacturing, service and tourism sectors,...

rate, write-off/impairment of asset, etc. Being relatively unchanged compared to that of the preceding quarter, SG&A in 3Q17 increased by 71% YoY, mainly due to three distinct sources: a) Additional SG&A

TSE remained unchanged where the Company used Equity Method. This was because the Company maintained significant influence over TSE as the Company had its representative as authorized director of TSE

% respectively. Such growth was soaring depreciation and space’s expenses led by Don Mueang branch boosting high share compared to revenue. The company closed down the branch at the end of May 2018. This will

unchanged. This makes the expense of the same. Please be acknowledged for your information Yours Sincerely (Mr.Wanthana Jaroennawarat) Director

unchanged from previous year despite the decrease of SW income . Non-SW income has more than offset the unfavorable SW income while cost has been under control. Page 3 of 4 Statement of Financial Position as

profits remain unchanged. Revenue from Sales The company has revenue from sales in the fourth quarter in the amount of 1,416.8 million Baht increased by 1.0 percent compared to the same quarter of the

%, respectively. The higher ratio on a period-on-period basis was attributable to the Company has some fixed costs that unchanged irrespective of the revenue in the first quarter of 2017. Selling expenses The

customers. Hence, this commitment is reasonable and find a purpose the best benefits of us. The rental rates unchanged. This makes the expense of the same. Please be acknowledged for your information Yours