million derived from gain (loss) from investment value of the associates with the details as follows; 1. SAFE Energy Holdings Company Limited (SAFE) which is held 33.37 percent of total shares by ECF Power

PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result of Quarter 3 Year 2019 Ended September 30, 2019 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s

Yai and Chachoengsao branch). The Company plans to open Rayong branch, the 11st branches in the last quarter of year 2018. Industry Overview Domestic purchasing power has been under pressure due to the

PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result of Quarter 1 Year 2019 Ended March 31, 2019 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion

revenues, a drop of 18.45% or Baht 6,626.87 million from the prior year. Construction revenue decreased because Xayaburi Hydroelectric Power Project is now close to project completion. Cost of construction

23.63% or Baht 6,863.03 million from the same period of the prior year. Construction revenue decreased because Xayaburi Hydroelectric Power Project is now close to project completion. Cost of construction

power, as farm income continued to be constrained by low prices of agricultural products and nonfarm income remained lackluster. Moreover, high levels of household debt caused the generation of new loans

the same period last year, respectively. Meanwhile, private consumption increased gradually, as a recovery in purchasing power remained tepid. Private investment has shown signs of improvement

%. • Normalized share of profit from power associates and joint ventures increased by 55.9%, standing at THB 244.5 mm. Increase in normalized share of profit from power associates and joint ventures was mainly due

affected to limited buying power. For the 2H17, although the government has announced policy to urge economic, the majority of policy related with investment in government and infrastructure which take a