% which was resulting from same store sales growth at 17.10% and new branches at 4.02%. Sales grew from sales of the old collections and new collections that launched during 2nd and 4th quarter 2019 such as

Japan. For example, it is required to get an approval of any changes or additions to the form and taste of products, of determining and changing marketing strategies, and of the design and store locations

growth from baht appreciation and world-trade sluggish. However, the Thai economy is attributed mainly by number of factors, namely 1.) growth in private consumption continues despite a lower rate of

Baht appreciation against 3 major currencies (USD, EUR, and AUD) as main revenue structure. Cost of sales, Selling and Administrative Expenses: For the three-month period ended 31 March 2019, the cost of

and according to target. In 2019, Thai economy has decelerated with GDP reported at 2.4% decreased from 4.1% in 2018 as a result of declining in export growth and Baht appreciation. The world-trade

Phuket Project with Central Department Store Co., Ltd. (“CDS”), a connected party. The objective of such transaction is to develop shopping complex at a cost of 1,282 million Baht (12% discounted present

, particularly in the export sector, the tourism sector, slowdown of private consumption and investment as well as the Baht’s ongoing appreciation. In 2020, Thailand economic growth will likely slowdown. There are

commodity swap of 26.79 million Baht due to higher aluminium price. Gain from exchange rate was 9.55million Baht due to appreciation in Thai Baht during this year. 6. In conclusion, for the year 2017, the

เลขที่ 50/2544/……… - Translation - No. 51/2020/002 10 January 2020 Subject: The Renewal of the Service Agreement with Harng Central Department Store Company Limited (The Connected Transaction) To

the Company recognized lower sales revenue from overseas sales resulting from Thai Baht appreciation against 3 major currencies (USD, EUR, and AUD) as main revenue structure. Cost of sales, Selling and