requires that the bondholders’ representative analyze the benefits and shortcomings as well as the potential impacts on the bondholders both in cases of approval and decline of approval for the above

cases of approval and decline of approval for the above matters with respective supporting reasons and the opinions of the bondholders’ representative. The bondholders are, therefore, encouraged to

-corruption policy and practice. In addition, the assessment shows a significant decline, from 39.33 percent in 2014 to 8.82 percent in 2015, of the Level 0 group, which indicates no disclosure or

approval and decline of approval for the above matters with respective supporting reasons and the opinions of the bondholders’ representative. The bondholders are, therefore, encouraged to thoroughly

year ended 31 December 2018 Change Reason Liquidity Ratio (x) 5.85 4.53 1.32 Increased mainly due to the decline of account payable, while current asset decreased at slower pace. Quick Ratio (x) 1.91

decrease amounting to Baht 37 Million from the principle repayment. (Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on March 31

million). In addition, the decrease in Sales was due to product mix (Table 5) and an adverse effect of unrealized consignment sales (Table 3, unrealized revenue amounted to Bt115 million in 2018). Cost of

Operated by For the three-month period ended 31 March % Change Increase (Decrease) 2017 2016 THB mm % THB mm % Sales 1. Sales from dessert café Company 153.94 97.56 137.01 98.75 12.36 2. Sales from catering

: Operating Performance Results - Q3/2017 (vs Q3/2016) (Baht – Million) Q3/2017 Q3/2016 Changes YoY (Increase + / Decrease -) Amount % Amount % Amount % Hotels Business Revenues 2,093.9 43.1% 2,096.0 44.4% -2.1

generated revenues of THB 2,075 million from the sales and services, which is decreased from the same quarter of the previous year in the amount of THB 44 million or equivalent to an decrease of 2.1 percent