Management Discussion and Analysis 1 Ref: AC.017/2020 18 May 2020 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange

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As of Q2/2017, the Company and its subsidiaries have recorded account receivable from voiding of the contract with allowance for doubtful debts in the amount of 320 MB but since June 2017, Management

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Expenses Q1/2019, the Company and its subsidiaries had the selling expenses of 22 MB which is rather flat when compare to Q1/2018 (21.97 MB in Q1/2018) as result from better management and control of selling

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[COMPANY NAME] EFORL IR010/2018 March 20, 2018 Subject: Management Discussion and Analysis Yearly Ending 31 December, 2017 To President The Stock Exchange of Thailand 1. Overview financial