Microsoft Word - letY17EMD&A .doc (Translation) 23rd February 2018 Subject: Management Discussion and Analysis (MD&A) of year 2017 To: Managing Director of the Stock Exchange of Thailand Business
Fund under HK-TH MRF with the Securities and Exchange Commission of Thailand (SEC). 1.2 Approval rules The Hong Kong Covered Management Company and the Hong Kong Covered Fund under HK-TH MRF shall have
exchange and laws on public limited companies. The Company may offer to sell shares at a price higher than the registered value, provided that the Company shall allocate all proceeds in excess of the value
the laws on securities and exchange and laws on public limited companies. The Company may offer to sell shares at a price higher than the registered value, provided that the Company shall allocate all
such index shall comprising only (i) securities listed on foreign exchange which is a member of WFE; or (ii) debt instruments with an organised secondary market; Gold price; Index comprising or relating
in March 2019. • Electricity price sales to EGAT increased 7.6% y-on-y in Q2’2019 and 10.2% y-on-y in 6M’2019 to 3.24 Baht/kWh because the energy payment is generally adjusted to reflect changes in
bond allowing the bondholder to convert bond to the Company’s stock at the adjusted conversion price at THB 4.40 per share. Page 2 of 11 Singha Estate Public Company Limited Management Discussion and
of Extrao y Specifying th and Manager k Exchange o al Increase Re mation Memora ng Shareholde n Broadcastin o. 6/2019 on ant matters as ved to propos se of registere ht 535,436,80 ount of 184,9
, or equivalent to THB 4,275,683,281.33, by way of the Allocation and Offering of the Newly Issued Ordinary Shares of the Company under the Debt to Equity Conversion Scheme. Remark - The exchange rate
Group Public Company Limited (“Thanasiri Group”), which equals to 51% of total registered and paid up ordinary shares of Takuni Land at price of 110 Baht per share. Total consideration value is 84,150,000