–2021 and Q2– 2020 due to relatively high competition, economic recession and the epidemic situation of COVID–19. In addition, -3- some operated projects have higher actual costs than the estimates; as

1.05% from the previous quarter. However, substance economic challenges are remained such as global economic recession as a result of policy interest rate increment, high household debt level increasing

. Managing the portfolio of non-performing loans to client or portfolio that are not much affected by the situation. The company expects that the cash flow may decrease somewhat due to the economic downturn

Dec 2022; World Gold Council • ทศิทาง USD แรงกดดนัจากการแขง็คา่ของดอลลาร์ สหรัฐฯ มนีอ้ยลงเมือ่เทยีบกบัปี 2022 เนือ่งจาก Fed มี แนวโนม้ชะลออตัราเรง่ของการขึน้ดอกเบีย้ในปี 2023 • Recession hedge ความตอ้

% from Q3/2019 and 38% from 9M/2019, respectively. • The decrease in operating revenue was mainly from the fall in purchasing power of domestic consumers as a result of the economic downturn and the

its Subsidiaries Management’s Discussion and Analysis for the year ended 30 June 2020 2 ASIA’S BOUTIQUE AIRLINE Executive Summary The Covid-19 pandemic plunged global economy into worse recession in the

were slowdown followed economic recession, excluded construction sector that had bidding competition from Chinese entrepreneurs. In terms of investment and employment, there were affected from labor

, did not achieve the target since the impact of the economic recession of the global markets, such as USA, Europe, China. In the meantime, the domestic market was affected from poor export economic

likely to grow in the future are: 1. Non-performing debt management business (JMT) It was a business that grew well during the recession. It is an opportunity to buy debt. For a good economy, it is an

stores, have led to a severe contraction of the Thai economy in the 2nd quarter of 2020 which is expected to be the deepest recession ever recorded. On 8 July 2020, the Bank of Thailand further revised