.) growth in private consumption supported by higher household income in both agriculture and non- agriculture sectors along with recovering consumer confidence; 2.) solid performance in the tourism sector

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary CPN’s revenues continues to grow primarily from strong rental business performance

of subsidiary company does not have the solid plan shift to the international market, providing to the independent valuer and auditors, this transaction is fully provided. Loss from allowance of

of subsidiary company does not have the solid plan shift to the international market, providing to the independent valuer and auditors, this transaction is fully provided. 5 Loss from allowance of

, 2012 by Mr. Khumla Nakkhavong (the sole shareholder), which has awarded the municipal solid waste concession in Vientiane. Relationship among 3 parties: None 3. General Characteristics of the Transaction

strong organic growth, price increases, especially in our static media network as well as higher demand for new campaign media. The integration of the digital services business is continuing to progress

- month 2017/18 performance reflects the results of our focus on integrating the OOH and Online sectors, having recorded solid growth of 28.4% YoY to THB 2,808mn. Adjusted net profit grew by 19.8% YoY to

acquisition date, non-recurring expenses and share of investment in JV and associates. PERFORMANCE ANALYSIS (2017/18 vs 2016/17) 2017/18 was another year of solid progress for VGI. The Company achieved the

) VGI posted solid performance for the start of the fiscal year 2018/19, maintaining steady growth momentum. In 1Q 2018/19, the VGI reported a further increase in revenue of 26.5% YoY or THB 225mn from

also later opened up to all employees. Maintaining a strong liquidity position has been 2 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02