. Management’s Discussion and Analysis S Hotels and Resorts Public Company Limited S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com Page 9 of 9 Analysis of Financial Position and Investment

decrease by 4.2%. 6 2. FINANCIAL POSITION The Consolidated Balance Sheet as of 31 December 2019 is summarized as follows. Assets As at 31 December 2019, the Company’s total Assets was Baht 26,418.7 million

& ANALYSIS 1Q 2017/18 2 AUG 2017 FINANCIAL POSITION ASSETS ASSETS BREAKDOWN 31 MARCH 2017 30 JUNE 2017 (Restated) (THB mn) % out of total (THB mn) % out of total Cash & cash equivalents and short-term

Company Limited | 10 Statement of Financial Position Assets As of June 30, 2017, the company had total assets of Baht 14,566 million, increased from December 31, 2016 of Baht 2,935 million or 25% from

Periods Ended 30 June, 2017 Page 10 4. Analysis of Statements of Financial Position 4.1 Analysis of Assets As at June 30, 2017, the total assets were Baht 97,113.71 million, increasing by Baht 722.62

/2017 9M/2016 9M/2017 YoYYoY QoQQuarter 2/2017Quarter 3/2016 Global Green Chemicals Public Company Limited Management’s Discussion and Analysis | 10 Statement of Financial Position Assets As of September

requires high spending. Page 5 4. Financial Position of the Company and its Subsidiaries (Unit: Baht Million) 30 September 2017 31 December 2016 % Change Cash and cash equivalents 37 92 -60% Trade

23.2 million, compared to net profit attributable to the owners of the Company THB 39.4 million in 9M16. Financial position Assets As of 30 September 2017, the Company reported total assets of THB 9,632

, which carried higher interest rate. FINANCIAL POSITION The changes in Consolidated Balance Sheet as of 30 September 2017 are summarized as follows. Assets As of 30 September 2017, the Company had total

and Analysis For the Three-month and Nine-month Periods Ended 30 September, 2017 Page 8 4. Analysis of Statements of Financial Position 4.1 Analysis of Assets As at September 30, 2017, the total assets