development expense and expected credit losses according to IFRS. However, when compare administrative expenses with sale will be found that decreasing from 19.17% to 11.88%, which indicates that the Company

Total Current Assets 208,662.0 715.9 9,675.00 33.2 14,893.90 51.1 Intangible Asset 1,003,371.6 3,442.6 964,999.40 3,310.9 926,627.10 3,179.3 Net-Land, Building and Equipment - - 1,009.50 3.5 975.1 3.3

Management Discussion and Analysis For the first quarter ended March 31, 2020 Bangkok Commercial Asset Management Public Company Limited 99 Surasak Rd., Silom, Bangrak, Bangkok 10500 Thailand Tel 0

shareholder in the amount of USD 9.51 million. The Company additionally received opportunity cost in the amount of Baht 10 million. Such sale of shares is a termination of joint investment for the development

Development) million baht 6,976 7,319 6,599 Operating expenses to sales (%) 14.16% 15.61% 14.06% Operating profit margin (%) 11.31% 10.87% 13.23% Other income to total revenues (%) 2.22% 1.60% 2.20% Net profit

Limited. The Company has already registered the changes to the Department of Business Development, Ministry of Commerce on April 17, 2019. In this regard, the Company still uses the same stock symbol “RATCH

finance expenses, higher selling, servicing and administrative expenses from the consolidation and one-off expenses of Vienna House and lower one-off gain from asset disposals  Total assets as of 31 March

Metropolis building in January 2020 with a plan to dispose the asset to SPRIME in a due period. Even though, 27% declined in 1Q2020 total revenue compared with 1Q2019 mainly attributed to negative impact from

) increase in land and project awaiting for development from the acquisition of a new subsidiary, Prime Area 12 Company Limited (“PA12”) (formerly known as “BTS Sansiri Holding Fifteen Limited”), and (iii) the

enterprises customers, for example: the project of train tracking system development and cargo management of the State Railway of Thailand, the Project of Geographic Information Acquisition and Development for