Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the year ended 31 March 2020 Executive Summary Thai Economy in the first quarter of 2020 happened into recession due to

remains fragile with the recession risk creating uncertainties in several regions. At the same time, the geopolitical risk continues catalyzing global supply chain disruption and affects industrial supplies

appropriate for the Company to be able to dispose of the assets at a price consistent with the market and industry conditions in the economic downturn. In addition, Land and Buildings thereof is also an asset

the Company to be able to dispose of the assets at a price consistent with the market and industry conditions in the economic downturn. In addition, Land and Buildings thereof is also an asset in the

considered and opined that the determination of such price is appropriate for the Company to be able to dispose the assets at the price consistent with the market and industry conditions in the economic

, decreased in amount of 12.0 million Baht or 33.3 percent. Real estate revenue was lower than last year due to the economic downturn resulting in the company postponing the new project development plan which

-19 outbreak and to alleviate economic downturn. Although, many countries have gradually relaxed the lockdown measures, and businesses resumed their operations, consumer spending is still not yet fully

decrease of 42.9 percent and net profit of Baht 40.13 million or decreased by 50.2% while compared to the same period of last year which the net profit was Baht 80.62 million. Due to the economic downturn in

). Moreover, the Thai economic outlook would underperform below the baseline projection because; 1. The global economy could enter a severe recession and Thailand’s tourism sector could take a long time to

economies has caused a dramatic slowdown in economic activities in many sectors and may lead to an economic recession. These situations may impact the commercial banking system’s loan quality, so commercial