% 3,511.78 100.0% -404.42 -10.3% Current liabilities 1,412.61 36.1% 1,272.09 36.2% -140.52 -10.0% Interest bearing debt 1,244.80 31.8% 1,036.34 29.5% -208.46 -16.8% Non-current liabilities 7.23 0.2% 13.26 0.4

out. 2) Newly launched projects in 2018 The Company and subsidiary companies launched the total of eight projects in 2018, comprising 6 residential condominiums i.e. Lumpini Ville Sukhumvit 76-Bearing

bearing debt. Liquidity ratios are high at over 3 times current liabilities. Operating Cashflow (EBITDA) was THB 2,546m in 2019 26% lower than THB 3,420m in 2018. EBITDA was THB 2.5 billion in 2019 and THB

THB. Two projects are completed and ready to be handed over, namely, Lumpini Ville Sukhumvit 76-Bearing Station and Lumpini Ville Ratchaphruek-Bang waek. There are projects developed from the previous

profit in 2Q17. Key Financial Ratio Financial ratio 2Q16 1Q17 2Q17 Current ratio 0.58 0.52 0.54 Debt to Equity ratio 1.53 2.00 1.91 Interest Bearing Debt to Equity ratio 0.40 0.58 0.67 Return on Asset 19.3

, mainly from net profit in 3Q17. Key Financial Ratio Financial ratio 3Q16 2Q17 3Q17 Current ratio 0.51 0.54 0.54 Debt to Equity ratio 1.63 1.91 2.28 Interest Bearing Debt to Equity ratio 0.48 0.67 1.00

Interest Bearing Debt to Equity ratio 0.48 0.67 1.00 Return on Asset 19.5% 20.5% 18.0% Return on Equity 39.1% 48.5% 46.8% As at 30 September 2017. FSMART had Current ratio at 0.54 which is in line with 2Q17

equity (ROE) 17.70% 14.40% 12.38% 11.04% -2.43% Return on asset (ROA) 8.20% 6.80% 5.73% 5.01% -0.86% Interest bearing Debt / Equity (IBD/Equity) 0.80 0.80 0.83 0.77 1.11 Return on equity (ROE) and Return

. The net profit increased 17.32% from the same quarter of the previous year. In Q1/2019, one project was completed i.e. Lumpini Ville Sukhumvit 76 - Bearing Station (2), valuing around 700 million THB

net profit of THB 2,902 mn, an increase of 2.8% YoY despite higher financing cost from additional interest-bearing debt following the acquisition of GLAND in September 2018. CPN has nevertheless