is recognized as an adjustment to retained earnings as at January 1, 2020. As at 31 December 2019, the Company has loan purchased of receivables Baht 77,375 million. The effect from adopting TFRS9 had

financial reporting standards is recognized as an adjustment to retained earnings as at January 1, 2020. As at 31 December 2019, the Company has loan purchased of receivables Baht 77,375 million. The effect

instruments and cannot be compared with the financial statements of 2020. However, the cumulative effect of initially applying these standards is recognized as an adjustment to retained earnings as at January 1

the economic conditions at the time and current cash collection efficiency. As of 31 December 2019, BAM has net book value of loans purchased of Baht 77,374.66 million against appraisal value of NPLs at

-o-Y due to the effect of the annual selling price adjustment, a change in foreign currency rates and an increase in the cost of goods sold resulting from a higher cost of raw materials Copper, Copper

The profit margin decreased slightly Q-o-Q, and dropped Y-o-Y due to the effect of the annual selling price adjustment, a change in foreign currency rates and an increase in the cost of goods sold

Purchase of Receivables (Expected payment exceeding 1 year) which mainly was the bad debt purchased from financial institutions. Management Discussion and Analysis (MD&A) 2019 Page 5/6 Liabilities As of 31

the THB/USD exchange rate when material purchased in Q419 was 3% stronger than Q120 [+3%] and exchange rate when material purchased in Q418 was 4% weaker than Q119 [-4%]. Page 1 of 3 Operating Profit

10,791.2 6,342.3 11,914.4 Bangkok Commercial Asset Management Public Company Limited Page 4 management business4 Remark 1 “ Interest income from loans purchased” and “gain on loans purchased” are presented

due to the effect of an annual selling price adjustment, a change in foreign currency exchange rate and an increase in the cost of goods sold resulting from a continuously high cost of raw materials