Board of Directors passed a resolution to adjust the principal business policy to real estate development. Later, the company expanded its property development business to industrial estate projects. And

List of REIT Manger Please wait... List of REIT Manger No. Company / Address Period of Approval 1 ADELPHI REAL ESTATE MANAGEMENT COMPANY LIMITED WANG MAI, PATHUM WAN, BANGKOK 10110, THAILAND

Other Receivables 56.0 2.3% 61.8 2.7% 5.8 10.4% Real Estate Development Costs 156.7 6.5% 165.6 7.2% 8.9 5.7% Investment Property 518.8 21.5% 525.0 22.7% 6.2 1.2% Land and Equipment 130.8 5.4% 65.9 2.9

755,979 7.5% 14.0% Utilities and services 528,731 495,693 470,159 6.7% 12.5% Housing 290,133 249,845 251,197 16.1% 15.5% Real estate and construction 216,516 205,235 200,736 5.5% 7.9% Agriculture and mining

2017: In Q2 2017, the Company is continually developing its current real estate projects: MahaNakhon, MahaSamutr, and Nimit Langsuan projects. Despite of competitive in pricing action, the Company has

2017, the Company is continually developing its current real estate projects: MahaNakhon, MahaSamutr, and Nimit Langsuan projects. Despite of competitive in pricing action, the Company has handover 33

investment in real estate project relating to hotels and resorts is considered as an acquisition of assets in accordance with the Notification of the Capital Market Supervisory Board No. TorJor. 20/ 2551 re

adjustment with PPA/1 60.2% 55.3% /1 Excluding accounting impact of Purchase Price Allocation (PPA) Income from sales of real estate during 2019 stood at THB 3,505.0 mm, which increased by 64.9%, compared to

2 Comprising investment in subsidiary companies and associated companies, real estate for investment, land, building and equipment, goodwill, non-tangible assets, lease hold, deferred tax assets

or 865.5 %, compared to the same period of the last year. KEY HIGHLIGHTS • Total revenue increased by 152.5%, mainly from increase in revenue from sale of real estate and increase in revenue from sale