cash equivalents decreased as mentioned above, effect to the Group's property, plant and equipment and other advances have increased Baht 54.45 million and Baht 2.39 Management's Discussion and Analysis

Regarding EP 5.1 General Information Type of Business : Investing in other companies engaging in electricity generation by solar cell as well as electricity and steam generation by co-generation power plant

39.51 MB respectively. Cash and cash equivalents decreased as mentioned above, effect to the Group's property, plant and equipment and other advances have increased Baht 93.37 million and Baht 116.82

2016) of property, plant and equipment Mr. Geza Perlaki Mr. Krishnan Subramanian Aylur Authorized Director Authorized Director

Company Limited Q4’18 and FY18 Management Discussion & Analysis 27 February 2019 Q4’18 and 2018 Management Discussion & Analysis Page 4/7 cost improvement after commissioning of new glass plant at The Siam

under the Tender Offeror’s operation: natural gas-fired power plants which are both in commercial operation and under construction, as detailed below: • One combined cycle power plant, which is currently

17.1% 0.2% Property, plant and equipment 4,365 35.8% 4,300 37.2% 1.5% Prepaid rental of land and bulidings 837 6.9% 821 7.1% 1.9% Others non-current assets 1,809 14.8% 1,382 11.9% 30.9% Total non-current

annualized EBITDA 3) ROFA = (Net profit + Depreciation)/ Average (Q2 2018 and Q4 2017) of property, plant and equipment Mr. Geza Perlaki Mr. Krishnan Subramanian Aylur Authorized Director Authorized Director

months ended the second quarter of 2019 but during 6 months ended the second quarter of 2019 decreased by 0.6% as a result of the planned maintenance shutdown of Gheco-One power plant, amounting 39 days in

- Property, plant and equipment were 14,434.19 million Baht, increased by 51.96 million Baht mainly from construction in progress including clarified water & total water solution projects, Bangpakong pumping