remain at levels similar to the previous year despite incurring higher cost of rental and services at CentralPlaza Rama 2 following the land lease extension. Hence, CPN is determined to exercise effective

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4 percent compared to 4.2 percent in the previous year.The slowdown could be attributed to exports which contracted further due to the stronger Baht and a global economic slowdown. In addition, the investment environment of both the public and private sector remained weak, and private consumption, albeit gro...

accommodating in advance for all circumstances. The Company has determined the emergency plan for the worse cases scenario and using the principle of good governance as well as commitment to develop products and

timing and nature of the activities cannot be clearly determined as yet. With regards to future business expansion, the Company expects that it will be able to make use of cash flow from operations

exchange transactions valued at USD 50,000 or higher must be reported, and transaction evidence with complete information, as determined by the Bank of Thailand, must be issued and delivered to customers. 2

rate and Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 10 of 15 3.) higher administrative expense upon business expansion. Hence, CPN is determined to exercise

Spectrum ( representing 90 percent of PCCA’ s registered capital) , is determined from the negotiation and agreement between both parties, taking into account various factors, such as, value of assets

the par value of Baht 10 per share in PCCA, held by BGP Spectrum ( representing 90 percent of PCCA’ s registered capital) , is determined from the negotiation and agreement between both parties, taking

Baht 252.50 million. 7. Criteria used for determining value of consideration The Company determined the price of Baht 305 million based on the agreed price with both parties, considered from the share

information, including an analysis of the REIT Manager demonstrating that the rental fees and rental conditions are determined at arm’s length according to normal business practice; 4.4 In case of hiring