charged by the subsidiary of EVN which our power selling prices are set at a premium to. Steam Sales to Industrial Users (IUs) • Steam sales to industrial users in Thailand increased 67.3% y-on-y in 2019 to

BOI on the investment of Index Furniture Co., Ltd. (‘IDF‘) which is the Company‘s subsidiary. Management Discussion and Analysis (MD&A) for the year ended 31 December 2019 F IN A N C IA L P E R F O R M

to 2.33 Baht/KWh in Q1’2019) and 2.1% q-on-q (2.38 Baht/KWh in Q4’2018 to 2.33 Baht/KWh in Q1’2019), primarily due to a decrease in the prevailing retail tariff charged by the subsidiary of EVN which

, Central i-City in Malaysia, a joint investment between CPN and and I-R&D Sdn. Bhd (“IRD”), a subsidiary of I-Berhad through a 60% and 40% ownership respectively, successfully underwent a soft opening and

subsidiary company namely Central Pattana Chiangmai Company Limited with 100% stake. Implying an investment in Porto Worldwide Limited, a joint venture company between Central Retail Corporation Company

3.8% y-on-y in Q2’2019 to 2.45 Baht/kWh and 1.7% y-on-y in 6M’2019 to 2.39 Baht/kWh, primarily due to an increase in the prevailing retail tariff charged by the subsidiary of EVN which our power selling

the company and its subsidiary for the 9-month period of 2019 had net profit of Baht 140.0 million, decreased by 26.0% when compared to the 9-month period of 2018. Total Incomes Total incomes in the

shareholders. Therefore, upon the share subscription date, NEXT will have become the Company’s subsidiary. 3. General Characteristics, Type and Value of the Transaction 3.1 Acquisition of NEXT Ordinary Shares

shares of NEXT of the existing shareholders. Therefore, upon the share subscription date, NEXT will have become the Company’s subsidiary. 3. General Characteristics, Type and Value of the Transaction 3.1

at Baht 53,192 million or 25.8% Analysis of the Operating Results The analysis of operating results of Land and Houses Securities Public Company Limited and the subsidiary are comparison of performance