is a business that can grow up together with the property development business which is the company's main business. The company believes that Internal Rate of Return (IRR) is 8.47% per year. 10. The

business of 1,473 million Baht (25% of total revenues from property business); significantly increased by 326% as compared to the year 346 million Baht. The significant increase was primarily due to the

, during 2017, the Group has purchased land to support the business expansion on property development business (record as investment property). The Group took ownership of 12 condominiums valued at 18.67

2018 with net loss of 1,102 million Baht as a result of disposal of asset a total of 422 million Baht. While no further revenue recognition from the property development business were presence in the

would generate both revenue from condominium sale and income from rent and service. This would increase a proportion of recurring income. (3) Golf and property management business Revenue from golf and

Veranda Resort Public Company Limited Management Discussion & Analysis Q2/2020 Management Discussion & Analysis Q2/2020 The company has main revenue portion from the property development business

income. The income base has been expanded to include rental property business as it is one way to efficiently manage the Company’s assets while purchasing power is decreasing as well as to reduce risks

of 270 million Baht or 9% as compared to 2017. This comprises of (1) gross profit from property business of 1,461 million Baht (24% of total revenue from property business), a decrease of 12 million

("The Company") and its subsidiaries operates a property development business, with a total of 4 projects, World Industrial Estate Project (Lamphun) Project, Lamphun Province, divided into Industrial area

of 270 million Baht or 9% as compared to 2017. This comprises of (1) gross profit from property business of 1,461 million Baht (24% of total revenue from property business), a decrease 12 million Baht