main factor was the decrease in inventories. Liabilities As at 30 September 2019, the Company and its subsidiaries had total Liabilities of Baht 3 ,391 million, a decrease of 3% from Baht 3,508 million

to listed companies with outstanding performance in investor relations activities organised by the Stock Exchange of Thailand (SET) and Money & Banking Magazine. MACO is one of the companies that

1 (Translation) MD. 108/2017 Aug 7, 2017 Re: Management Discussion and Analysis For the Operating Results ended June, 2017 To: President The Stock Exchange of Thailand Management Discussion and

comprising mostly of interest income and foreign exchange gain. Information and Communication Networks Public Company Limited D.K.J. Building, 5th Floor, No. 393, Sukhonthasawat Road, Latphrao, Latphrao

approval from the Office of the Securities and Exchange Commission (SEC) and the conversion process of CPNRF into CPNREIT is expected to be completed by the end of 2017. Central Pattana Public Company

1 (Translation) MD. 182 /2017 Nov 8 , 2017 Re: Management Discussion and Analysis For the Operating Results ended September, 2017 To: President The Stock Exchange of Thailand Management Discussion

. Additionally, in September 2017 the Company has registered to the Stock Exchange of Thailand / Market for Alternative Investment for raising fund resulting in cash and cash equivalent in the proportion of 34.50

million in 3Q17 and 9M17, respectively. The main drivers were attributable to a decrease in room revenue due to three hotel renovations and an increase in administrative expenses to support business

2017 proportionately at 31.72%, 14.79%, 15.31% and 13.28% of total assets. Additionally, in September 2017 the Company has registered to the Stock Exchange of Thailand (MAI) for raising fund resulting in

(Translation) February 27, 2019 Ref: SET-2019-003 Re: Management's Discussion and Analysis and operating results for the Year 2018 Attn. to: President The Stock Exchange of Thailand Filter Vision