AVIATION FUEL SERVICES PCL. BAM: BANGKOK COMMERCIAL ASSET MANAGEMENT PUBLIC COMPANY LIMITED BANPU: BANPU PUBLIC COMPANY LIMITED BAY: BANK OF AYUDHYA PUBLIC COMPANY LIMITED BBGI: BBGI PUBLIC COMPANY LIMITED

experience in the tourism industry. It is the management team’s vision to create world-class tourist attraction on a large scale that will become the new tourist attraction of Phuket and Thailand. Not only

change its Board of Directors. The group companies continue to be operated by current Board of Directors and Management. Consequently, the Company is obliged to disclose the information memorandum in

unrealized foreign exchange gain amounting of THB 239.5 mm. However, considering only the share of profits from investment in associated companies from power business, excluding such unrealized gain on foreign

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the First Quarter Ended 31 March 2018 1. Q1/2018 Highlights Figure 1: Quarterly results  In Q1/2018

Nomura Real Estate Holding is the only one shareholder of NRED with shareholding of 100% of total shares. Remark: This information is from http://www.nomura-re.co.jp/english/outline.html 5. Total value of

588,000,000 Baht) and Nomura Real Estate Holding is the only one shareholder of NRED with shareholding of 100% of total shares. Remark: This information is from http://www.nomura-re.co.jp/english/outline.html 5

1 (Translation) MD. 108/2017 Aug 7, 2017 Re: Management Discussion and Analysis For the Operating Results ended June, 2017 To: President The Stock Exchange of Thailand Management Discussion and

1 (Translation) MD. 182 /2017 Nov 8 , 2017 Re: Management Discussion and Analysis For the Operating Results ended September, 2017 To: President The Stock Exchange of Thailand Management Discussion

Translation (Translation) PAGE (Translation) -2- Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. The SEC