, Tambol Ban Lane, Amphur Bangpa-in, Ayuthaya Province 13160, Thailand Tel (035) 350 880 Fax (035) 350 881 Website: www.aapico.com 1 บริษัท อาปิโก ไฮเทค จํากดั (มหาชน) AAPICO HITECH PUBLIC COMPANY LIMITED

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the 2nd quarter ended June 30th, 2018 Management Discussion and Analysis of Business Operation

default on a principal or interest payment of debt securities or default on a loan payment of a commercial bank, finance company, credit foncier company or financial institution established under specific

new loan for business expansion to generate new revenue stream. CPN continues to exercise effective cost management and according to the changing business environment. Central Pattana Public Company

asset 5,092 1.8% 5,291 1.9% Defer tax asset 3,210 1.1% 3,021 1.1% Debt Repayment Schedule License payment schedule Others 5,337 1.8% 5,015 1.8% Bt mn Debenture Loan 1800MHz 900MHz Total Assets 290,505 100

เลกิสญัญาแฟรนไชส์หลกั (Master Franchise Agreement) กบั ILMC และบริษัทฯ ได้ให้ สทิธิดงักลา่วแก่บริษัท อินเดก็ซ์ ลฟิวิ่งมอลล์ อินเตอร์ จ ากดั (Index Living Mall Inter Company Limited) (“ILM Inter”) ท าให้

asset 5,092 1.8% 5,291 1.9% Defer tax asset 3,210 1.1% 3,021 1.1% Debt Repayment Schedule License payment schedule Others 5,337 1.8% 5,015 1.8% Bt mn Debenture Loan 1800MHz 900MHz Total Assets 290,505 100

payable days slightly increased from 65 days to 72 days due to higher vendor financing following network expansion. Credit term and collection period The normal credit term granted by the Company ranges

and paying agent……………….. Warning: “Prior to making an investment decision, investors should exercise their own judgment when considering detailed information relating to the issuing company of the

at Bangpakong, Chacheungsao province. As of 30 June 2017, the Company has reached the maximum drawdowns of loans from financial institutions and its Subsidiaries also engaged in an additional loan