the land to develop projects. 6. Decrease in short-term loan to related parties of THB 114.8 mm, because of having loan repayment from the associates in power business. 7. Decrease in investment

-term loans from financial institutions of THB 416mn being partially offset by (iv) repayment of long-term loans from related party of THB 5,050mn and (v) repayment of long-term loans from financial

paid at Baht 88 million, repayment of a long-term loan from financial institutions at Baht 26 million while subsidiary’s cash received from long-term loan from financial institutions at Baht 10 million

payment for investment in joint ventures. Net cash paid in financing activities was THB 1,200.9mn. The key components were THB 1,696.3mn net cash repayment for long- term borrowings from financial

expense has decreased from the bond repayment in the fourth quarter of 2019 and second quarter of 2020. 6. Income tax expenses were Bath 203.56 million, a decrease of Baht 146.84 million or down by 41.91

repayment in April 2020 and to mitigate risk from the money market fluctuation during COVID-19. However, compared to the six- month period of 2019, the finance cost in the same period of 2020 increased by 0.7

MRTA is fully responsible for both loan repayment and interest expense in accordance to the concession agreement) to financial liabilities which measured at amortized cost with effective interest rate

22.2%. The decrease was due to income tax paid of 18.5 million Baht and repayment some trade accounts payable. (2.2) Non-current liabilities as of December 31, 2019 amounted 105.7 million Baht compared

of THB -276.6 Mn. This was mainly due to in 2019, the Group recorded the net cash from Financing Activities which was offset by (1) cash received from IPO THB 952.1 Mn and (2) net repayment of short

repayment of financial lease of Baht 3.61 million, interest payment of Baht 1.11 million and repayment of short-term loan of Baht 189 million. - 6 - (2.7) Financial Ratios Financial Ratios As at March 31