Consultant Company Limited on 11 October 2017, who are appraisers on the approved list of the SEC. They have appraised each plot as follows; Title deed number 72763 : 45,000 Baht per Square Wah. Title deed

represented the appraised value reviewed by the independent appraiser. Page 2 of 8 Singha Estate Public Company Limited Management Discussion and Analysis 3Q2019 In October 2019, SET announced that S was listed

Adjusted Book Approach method (Book value as of December 31, 2017 is THB 213.55 million) which was appraised by Phet Siam Appraisal Company Limited, an independent appraiser approved by the Securities and

project value at completion was appraised by Sasirachada Co.,Ltd. ** Recoverable amount as at the agreement date is calculated on the project value by cost approach at the shareholding proportion 80%. Basis

including machines (appraised by Prospec Appraisal Co., Ltd.) as follow: no Item Book Value as of 30 Sep 2017 (THB Million) Fair Value (Nov 2017) (THB Million) 1 Land (2 plots with title deeds no. 2182 and

the companies’ shares have reasonably. Based on the implementation and the appraised value of land from independent appraisers. 9 . The opinions of Audit Committee and/ or directors different from the

, which appraised By Orion Advisory Company Limited as the financial advisor of the Company. Nevertheless, the financial advisor of the Company has the opinion that the adjusted book value approach is the

1 ( Translation ) Ref. NEP146-2017 October 25, 2017 Subject : Resolutions of the Board of Directors approving the capital decrease, the capital increase, the allotment of newly issued ordinary shares to investors in private placement, the acquisition of assets and convening the Extraordinary General Meeting of the Shareholders No. 1/2018 (Revise 3) To : President, The Stock Exchange of Thailand Attachment : 1. Capital Increase Report Form (F 53-4) 2. Information Memorandum in relation to the al...

inventory shortfall. Moreover, after the review of the reserve for damages from the inventory shortfall, the company has reversed the reserve of approximately THB 217 million pursuant to an appraised value of

accommodate the Company’s operations and work expansion in the future. In this regard, the purchase prices of the land are lower than the market prices appraised by the independent appraiser, i.e., Thai