1 / 5 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS • Explanation and analysis of financial performance for the year at the end of 31 December 2018

part of the direction to resolve the grounds of possible delisting. Board of Directors and Auditing Committee’s opinion: Considering the current economic condition, Government land appraisal price

following quarter. Clause 5 To ensure that the model or method used in the stress test are appropriate to the current and possibly changing market condition, the securities clearing house shall access the

sale purchase agreement with Thanasiri Group in May 2018. The condition precedent as specified in the agreement- such as the board of directors’ and/or shareholders’ meeting of the Company has approved

circumstance that gives rise to justifiable doubts as to their impartiality or independence, the respondent shall submit a letter of challenge together with the reason for the challenge as per Form OrYor. 6

challenge all of the three arbitrators in the claimant’s selected list because there is a circumstance that gives rise to justifiable doubts as to their impartiality or independence, the respondent shall

challenge all of the three arbitrators in the claimant’s selected list because there is a circumstance that gives rise to justifiable doubts as to their impartiality or independence, the respondent shall

will depend on the final offering price of the Trust’s units, which will be determined by book building process and other factors such as, the general capital market condition and other financial

financial instrument of the company with financial instrument of other business, subject to a condition beneficial to the company. 9. Property, plant and equipment means tangible assets under all of the

the company with financial instrument of other business, subject to a condition beneficial to the company. 9. Property, plant and equipment means tangible assets under all of the conditions as follows