ที่บชง Page 1 of 4 Ref. Bor Chor Ngor 0048/2020 26 February 2020 Subject: Management Discussion and Analysis of Operating Results for Fiscal Year 2019 To President The Stock Exchange of Thailand
November 13, 2018 Subject: MD&A for the financial statements of the 3rd quarter of fiscal year 2018 ended as of September 30, 2018 To: The President The Stock Exchange of Thailand Aapico Hitech Public
year, due to the delay approval process of budget expenditure of the government for the 2020 fiscal year. - Revenues from sales and beauty treatment services in Q2/2020 were THB 4 million decreased by 92
from the difference of Book Value Ratio (1 : 4.31 shares) and negotiated Exchange Ratio (1 : 5.5 shares) consideration. In this regard, the Company authorizes a director that has no conflict of interest
condominium which calculated from the difference of selling price and taxable cost of investment received by way of Entire Business Transfer in 2016. Please be informed in accordingly. Your sincerely, (Mr
transaction with arm’s length conditions that could occur according to the necessity of the Company business operations. 11. Opinion of the Audit Committee which is difference from that of the Board resolution
increased from the second period of the year 2017 due to the current liabilities decreased. The Debt to Equity Ratio is equal to 0.11:1 times, indicating normal criteria and no significant difference from
difference from the Board of Director’s opinion None Please be informed accordingly Mr. Nathapol Eksangkul Vice President
development operations which comprise of property sales and the sale of holiday club memberships decreased by Baht 97 million. The difference is largely attributed to the lower revenue recognition of holiday
of holiday club memberships decreased by Baht 246 million. The difference is largely attributed to the revenue recognition of property sales projects namely Cassia Phuket and Laguna Residences which