LIMITED 3) LOGISTICS Positive Sentiment from Kerry Express Plan’s to Initial Public Offerings  Shareholding Structure 3) SOCIAL RESPONSIBILITIES   4) AWARD AND RECOGNITION  https://market.sec.or.th

product. In addition, our engineering business saw the signing of a new project in Indonesia, which will bring positive EBITDA to the business in Q2 to Q4 period. A contingency plan to mitigate the impacts

positive market sentiment in Thailand and on the export markets.” Golden Lime Public Company Limited 4 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 31 MARCH 2018 2. Outlook Overall Thai economic

consumer sentiment worsened. As in the previous quarter, in Q4 the main lime consuming sectors of the industry were impacted by the macro economy. However, despite the current challenges in the economy

trend development was more than offset by the continued positive growth sentiment of advertising spending in November and December 2017, driven by the economic rebound in exports, tourism and automotive

decline in revenue from dessert café, which was attributed to the lower traffics in shopping malls and weaker consumption sentiment following COVID-19 concerns together with the closure of shopping malls

with this political risk potentially denting consumer and business sentiment as well as investment activity. Aside from these risks the industrial trends impacting the lime business are positive. Fixed

and regulatory control variables. We also find the year after volatility in the stock market increases, gambling markets performance is positive and significant, revealing these gambling investors

future. Business wise H1 2019 was challenging particularly in the most recent quarter. Business sentiment in multiple industrial segments important to us has been impacted by the macro economy and the

moderated, while business and consumer sentiment worsened. As in Q2 also in Q3 the main lime consuming sectors of the industry were impacted by the macro economy. However, market feedback has given us