distribution and administrative expense were 72.85 Million Baht compare with last period 48.50 Million Baht, increased 24.35 Million Baht or 50%. Due to the asset impairments of 21 Million Baht from under

expense associated with the land sale including the transaction costs and taxes from land transfer as well as the marketing and promotion expenses.  Administrative expense in 2017 stood at THB 1,385.2 mm

the industry that can be used as a benchmark for comparison. Not include transaction related to the novation of the M&E systems under the concession agreement of the MRT Chalong Ratchadham Line Project

amounted to Baht 118 Million was received from the MRTA under the concession agreement of the MRT Chalong Ratchadham Line Project where the income is equal to the interest expense from the long term loan for

(“the Group”) as follow: THB Mn THB Mn THB Mn % Sales of goods and services 1,214.9 1,115.7 99.2 8.9 Revenue from finance lease under power purchase agreement 99.2 100.9 (1.7) (1.7) Revenue from

the extra accounting expense as mention above. If we exclude this transaction, the EBITDA for year 2018 would grow by 15% yoy and EBITDA margin would increase to 26% for year 2018. Financing Costs In

Authority (Thailand) PPA Power purchase agreement PTT PTT public Company Limited Q-o-Q Quarter-on-Quarter SG&A Selling, general & administrative expense WVO War Veteran Organization Y-o-Y Year on year OUR

decrease in net profit ratio (ROS) from 17.16% in the nine-month period of 2018 to 15.74% in the same period of 2019. The total expense to total revenue ratio increased from 13.55% in the nine-month period

. The transaction does not affect the Company’s cash flow. • The Company recognized selling & administrative expense related to the settlement of financial instruments, which are non-recurring, amount THB

fully repaid in November 2019 from the net proceeds of SHR’s IPO, an increase in income tax expense due to growth in transfer value of residential project as well as fair value adjustments on investment