252,017 (548) 2,233 1,685 253,510 Liability 141,841 1,312 2,514 3,826 145,475 Equity 110,176 (1,860) (281) (2,141) 108,035 PAGE 6PAGE 6 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1/2020 Operating Results

-Current asset 419.12 30.5% 427.47 27.7% 8.35 2.0% Total Assets 1,372.78 100.0% 1,543.90 100.0% 171.12 12.5% Liabilities Current liability 118.33 8.6% 139.61 9.0% 21.28 18.0% Non-Current liability 57.26 4.2

leasing agreements on Financial Statement followed to TFRS 16 Leases. 4.2 Liabilities The total liability as at 31 March 2020 was increased from the year 2019 by Baht 73.80 million or 20.39 percent

in 2017 already. Thus, there was just small progress can be realized in 2018. This resulted in decrease in gross profit for Baht (53.23) million. 2. Management Service (“MS”) had a decrease in gross

quarter lower than the margin recorded in the same period of last year. For the fourth quarter, MK planned to launch 4 new housing projects. The Thai government had just announced the housing stimulus

and production had increased as well. But production stumbled again by the end of the year, and we are now just seeing signs for recovery in end of February 2020, for which production is expected to

company intend to hold them until the maturity; (3) Investing in investment units of open-end fund under management of such mutual fund management company, provided that, just in the case which the company

which management company intend to hold them until the maturity; (3) Investing in investment units of open-end fund under management of such mutual fund management company, provided that, just in the case

can progress as targeted in the second quarter onward. In addition, there are many new projects which construction contracts have just been signed or about to be signed which will increase the corporate

: Contract 4 just recently started. Cost of construction services and sales of construction materials For the first six months of 2020, the Company and its subsidiaries registered cost of construction services