real estate development and service business. The Company has developed premium housing projects in central business area to open up new business opportunities. Moreover, the opportunity in rental real

CORPORATION PUBLIC COMPANY LIMITED METRO SYSTEMS CORPORATION PUBLIC COMPA... METROPOLITAN ELECTRICITY AUTHORITY COM... MFC ASSET MANAGEMENT PUBLIC COMPANY LI... MFC INDUSTRIAL REAL ESTATE INVESTMENT ... MFEC

sales of real estate 5,612.6 84.3 5,826.2 85.8 213.6 3.8 Revenues from project management 603.7 9.1 422.7 6.2 (181.0) (30.0) Dividend income - - 0.3 0.0 0.3 100.0 Gain from transfer of right for land

PACKAGING (HANOI) CO., LTD. APAC HOLDING, LLC APAC REAL ESTATE HOLDINGS LLC APEX DEVELOPMENT PUBLIC COMPANY LIMITED APEX ENERGY SOLUTION COMPANY LIMITED APPLICAD PUBLIC COMPANY LIMITED APPLIED DB PUBLIC

Holding Company investing in retail business such as mobile phone distribution and accessories, non-performing debt management, real estate development, hire purchase (associated company), personal loan

experiences in management of real estate investment at least 3 years within a 5-year period before the date of submitting the application; (5) no facts causing any reasonable doubt that the applicant will be

LIMITED META CORPORATION PUBLIC COMPANY LIMITED METRO SYSTEMS CORPORATION PUBLIC COMPA... METROPOLITAN ELECTRICITY AUTHORITY COM... MFC ASSET MANAGEMENT PUBLIC COMPANY LI... MFC INDUSTRIAL REAL ESTATE

shares of Keystone Estate Co., Ltd. Land owner and property development 1,874.00 9,370,000 100.00 50.00 15 Ordinary shares of Keystone Management Co., Ltd. International school 500.00 2,500,000 100.00

., Ltd. Hotel management 25.00 1,250,000 10.00 50.00 14 Ordinary shares of Keystone Estate Co., Ltd. Land owner and property development 1,874.00 9,370,000 100.00 50.00 15 Ordinary shares of Keystone

venture was renamed to Ratchada Alliance; which U City still holds 50% of the ordinary shares. The purpose of this JV is to invest and develop real estate projects for sale. MANAGEMENT DISCUSSION & ANALYSIS