13.5% or THB 3,004mn from 31 December 2017. This was largely due to (i) long-term loans from related parties and interest payables of THB 5,026mn, or the outstanding debt assumed from the EBT of UE, (ii

consolidate financial statement as follows: • Income from GLANDRT leasehold asset divestment amount THB 270 mn was recognized in share of profit from associated companies • GLANDRT dissolve expense amount THB

fully repaid in November 2019 from the net proceeds of SHR’s IPO, an increase in income tax expense due to growth in transfer value of residential project as well as fair value adjustments on investment

amounted to Baht 118 Million was received from the MRTA under the concession agreement of the MRT Chalong Ratchadham Line Project where the income is equal to the interest expense from the long term loan for

4,125 4,059 66 1.6 Cost of service 2,451 2,362 89 3.8 Selling and administrative expenses 312 296 16 5.4 Finance cost 305 482 (177) -36.7 Interest expense from the MRT Purple Line Project 99 112 (13

analysis Q1 2018 Q1 2019 Increase/(Decrease) THB mm THB mm THB mm % Selling expense 47.3 42.5 (4.8) (10.1%) Administrative expense 268.0 294.2 26.2 9.8% Finance costs 313.4 278.2 (35.2) (11.2%) Total expense

constant. 3.3 Selling expenses and Distribution expense Selling expense and Distribution expense was increased from the year 2018 in an amounting of Baht 8.77 million or 29.18 percent. Mainly came from

1.09 Million Baht from the prior year. 5. Selling expense decreased amounting to 0.33 Million Baht, accounting for 21.71% from previous year due to the decreased in salary of salesperson 0.20 Million

) was low and could not cover cost and expense. 2. Business Outlook Total domestic Hot Rolled Steel consumption for Quarter 1, 2020 stood 1.51 million MT and decreased by 3.4% compared to same quarter

0.1% 1.10 0.3% 0.95 633.3% Interest Expense (0.25) (0.1%) (4.05) (1.1%) (3.80) (1,520.0%) EBT 78.31 28.6% 92.88 26.1% 14.57 18.6% Tax (7.74) (2.8%) (10.10) (2.8%) (2.36) (30.5%) Net Profit After Tax