follows: Unit : million baht Statement of financial 31 Dec 2019 31 Dec 2018 Increase (Decrease) Percentage Asset 1,573.57 1,419.80 153.77 10.38 Liabilities 686.97 462.61 224.36 48.50 Shareholders 'Equity

loss Baht 89. 93 million resulting in a decrease in shareholders’ equity. Yours sincerely, General Engineering Public Company Limited (Mr. Wuttichai Sresthabutra) Director

decrease for long term loan in year 2020 due to gradually paying off some balance of debt from the finance institution. Shareholder’s equity The Company’s shareholders equity as of the year 2019 and Q1 /2020

THB 1,278.7 Mn respectively, a decrease of THB 155.4 Mn or 10.8%. This decrease in shareholders’ equity was mainly derived from (1) Net loss during the period THB -125.2 Mn and (2) impact from changes

Increase / (Decrease) 2.82 0.70 Total Liabilities - Restated 34,784.91 37,811.27 Equity Total Equity - Previously Reported 63,281.18 62,452.77 Retained Earnings Increase / (Decrease) (3,109.45) (3,041.29

Liabilities - Restated 34,784.91 37,811.27 Equity Total Equity - Previously Reported 63,281.18 62,452.77 Retained Earnings Increase / (Decrease) (3,109.45) (3,041.29) Other Components of Equity Increase

decrease of THB 74.7 Mn or 5.2%. This decrease in shareholders’ equity was mainly derived from (1) impact from changes in accounting policies (TFRS16) to retained earnings THB -30.6 Mn and (2) Net loss

Trade and other payables increased by Baht 7.2 million Provisions for employee benefit decrease by Baht 0.4 million Shareholders’ Equity Net loss from company’s operating result for the six-month period

million as of June 30, 2017. Shareholder’s Equity as of June 30, 2017 was Baht 653.02 million slightly decreased from 659.09 million as of December 31, 2016 due to the decrease of other components of equity

Discussion and Analysis (MD&A) Page 6 of 15 TFRS16 adoption brought about one- time adjustments that resulted in increases of assets and liabilities and decrease in shareholder’s equity. TFRS16 adoption impact