, personnel expenses, cost of passenger service, depreciation and aircraft rentals. For the second quarter and six- month period of year 2020, costs of sales and services were 2,204.8 million baht and 7,192.5

) decided to postpone the transaction of investing in 4 additional asset leases with the Company until CPNREIT is able to resume the fund raising in due course. The Company currently manages 34 shopping malls

/2019. 2/ Impact from the adoption of Thai Financial Reporting Standards 16 Leases (TFRS 16) since 1 January 2020 which caused higher depreciation and interest expenses (net after tax). Operating

2020. The standard affecting the group's operations is IFRS 9 Financial Instruments in which influenced the financial business as well as Thai Financial Reporting Standard 16 Leases that affect the

spent for interest payment and payment of installments according to financial leases. Key Financial Ratios Exhibit 9 : Key Financial Ratios comparison of 1Q2019, 1Q2018 and 4Q2018 Key Financial Ratio

) asset light expansion of Vienna House and AHS mainly via new management contracts and operating leases, (ii) office space renovation to enhance NFA and grow rental revenue together with expense control

to continue to grow Vienna House’s hotel portfolio, mainly through operating leases. The opening of the 205-key VHE Leipzig hotel will contribute to future growth as its operations begin to ramp up

standard for leases under Thai Financial Reporting Standards 16 (TFRS 16). 1.2 Investments in Joint Ventures and Associates increased by THB 59 million primarily due to share of profit from investment in

in 1Q2020 such as TAS 32 Financial Instruments: Presentation, TFRS 7 Financial Instruments: Disclosure, TFRS 9 Financial Instruments and TFRS 16 Leases on the Group’s financial statements which

LIMITED 4 FINANCIAL POSITION From 1 January 2020, the Company has adopted the Thai Financial Reporting Standards (TFRS) 16 – Leases for its financial statement reporting for the first time. Under this new