Company Limited. The 180-day period of asset attachment, starting from the date specified in the order, will expire on 1 January 2024.*The wrongdoings subject to the SEC’s criminal complaint in this case

to submit PE Trust-1 Report to the SEC office within 15 days as from the end of the financial period of the trust, but since such tax incentive may attract a growing number of PE trust establishments

revenue from sale increased.  Gross profit margin increased from the same period of last year from 45.6% to 46.5%. According to the Company has efficiently managed portion of sales both at branch’s sale

differences between indirect investment through property sector fund and direct investment in property fund established and managed in Thailand (Thai property fund). Under the proposed regulations, property

compared to the same period last year by gaining from dividend received. The financial structure of the Company was in the strength level and cash flow could be managed effectively, hence, there was no

15 August 2017 Subject: Management Discussion and Analysis for the 6-Month Period Ended June 30, 2017 To: Directors and Managers The Stock Exchange of Thailand Halcyon Technology Public Company

financial statements, including the consolidated financial statements of the Company and its subsidiaries for the third quarter and nine month period ended 30th September 2019. The Company reported

decreased by Baht 217.1 million or 49.0% compared to the same period last year which was resulted from the renovation of the River Wing building that included the closure of 338 guestrooms, Verandah

220.9 million or 55.4% compared to the same period last year which was resulted from the renovation of the River Wing building that included the closure of 338 guestrooms, Verandah, Riverside Terrace, and