the sales volume derives from residential condominium projects i.e. 1.2 billion THB from complete and ready-to-move-in projects and 300 million THB from projects under construction. 2) 28% of the sales

year. Main drivers of the growth rate were letting out the space at Singha Complex after its construction completed in 4Q18 and recognizing part of unearned revenue from 30-year leasehold right of office

. Main drivers of the growth rate were letting out the space at Singha Complex after its construction completed in 4Q18. In 3Q19, revenue from commercial business was THB 171m which was about the same

. However, The Hotel temporarily close due to COVID-19 effected revenue from hotel operations portion decreased. The following table shows the total revenue structure by business type according to the

THB. Financial structure The Company emphasizes the importance of efficient management of financial structure to be flexible in time of economic fluctuations and maintain the financial costs to be

% Food Delivery & Catering, 11.1% Sales of Raw Material, 5.7% Retail Merchandise, 2.0% Revenue from Sales of Goods, 96.2% Total Revenue Structure 1st Quarter 2021 4 Zen Corporation Group Public Company

% 42% Residential 2,388 3,974 66% 501 682 2,387 250% 376% Hotel 1,074 2,576 140% 270 875 985 13% 265% Commercial 2,114 674 (68%) 1,673 171 206 20% (88%) Construction materials 173 126 (27%) 90 17 29 71

2019, therefore, the Company and subsidiary companies have to increase the reserve for staff benefit by 32.96 million THB. Financial Structure The Company emphasizes the effectiveness of financial

-month period ended 30 September 2019. The details as followed: The Structure of Revenues R&B Food Supply Public Company Limited and its subsidiaries run the businesses mainly in production and trading of

construction work 132.5 5.5% 134.3 5.5% 1.8 1.3% Other Non-current asset 82.3 3.4% 80.9 3.3% 1.4 -1.7% Total Non-current asset 2,148.7 89.2% 2,151.4 87.6% 2.7 0.1% Management Discussion and Analysis Q1/2019 Page