subsidiary have sold total of two pieces of land. For projects, the company is developing, has delayed. However, these projects are on a good progress. First, the non-hazardous waste landfill is now completed

Page 1 of 7 Management Discussion and Analysis 2018 Executive Summary The operating result of 2018, Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reached total revenue of

and Analysis EXECUTIVE SUMMARY SIGNIFICANT EVENTS Commercial operation of ABPR3 From a total of three SPP power plants in Amata City Industrial Estate that have scheduled COD in 2018, ABPR3 is the first

recovery in EU economy and the start of mass production of this product, resulting in a continuous sales growth since last year. However, sales of Telecom Power System (TPS) products declined 13.3% from the

expected to be complete within Q3/2017. In Q2/2017 the company has submitted documents to get a permission to build a new non-hazardous waste landfill. The company expects to start the landfill construction

did not have any acquisition of assets which is required to be calculated in the past 6 months, and this transaction has the highest size of 16.28% according to the Total Value of Consideration

quarter in the amount of 1,462.7 million Baht, decreased by 4.1 percent compared to the same quarter of the previous year (decreased by 3.7 percent from Q3/2018) and has revenue for the year 2018 in total

compared to the same quarter of the previous year (decreased by 2.6 percent from Q2/2019) and has revenue for the first nine month in total of 3,850.0 million Baht decreased by 4.3 percent compared to the

Center Co., Ltd. operate medical service concerning healthcare and esthetics under trademark “Wuttisak Clinic”, which start operate the franchise business on February 10, 2018, In the past period, has been

% -79.3 -11.2% Sales 18.4 2.5% 250.2 8.1% 231.8 1259.8% Service and Other Income 19.9 2.7% 36.7 5.0% 16.8 84.2% Total Income 746.3 100.0% 915.6 100.0% 169.3 22.7% Cost of Rental and Services 561.1 75.2