6 December 2007 1 | P a g e Pace Development Corporation Public Company Limited 87/2 CRC Tower All Seasons Place, 45th Floor, Unit 3, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel. 66 2 654

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

% YoY. The Company continues to emphasize on effective revenue generation through new shopping malls, enhancement of existing malls, new mixed-use development projects, such as residential development

, the debt financing is essential to support new project development and acquisitions. Thus, interest-bearing debts to equity from 0.85x to 1.48x as well as net interest-bearing debts to equity from 0.41x

are ready for transfer. Pre-sales of condominium projects launched in 2017 continues to increase. Diversification into Mixed-use Development Projects CPN sees the potential in mixed-use development

employee expenses. Expenses from research & development, and innovation In compliance to NSTDA’s guideline, the Company reported research and development, and innovation expenses at Baht 1.19 million

. Diversification into Mixed-use Development Projects CPN sees the potential in mixed-use development projects, which consist of residential projects, office buildings and hotels, in the same complex as the shopping

Development Fund 2,440 2,429 2,331 0.5% 4.7% Debt issued and borrowings 1,327 1,550 1,682 (14.4)% (21.1)% Total interest expenses 9,460 9,905 9,372 (4.5)% 0.9% Net interest income 17,123 16,955 16,277 1.0% 5.2

of management for the Ministry of Finance’s debt incurred from aiding the Financial Institutions Development Fund – must not exceed 1 percent p.a. of each bank’s deposit base. Currently, financial

ratio stood at 1.58 times and the Interest-Bearing Debt ratio was 1.28 times. Forward Looking In the year of 2017, the Company has expanded its business toward Property Development for sale – Newera