reviewQ218.xlsx Management's Discussion and Analysis Second Quarter ending 30th June 2018 Overall Group Performance Hana Microelectronics Group 'Hana' Sales Revenue increased 4% year on year at THB

: Higher biomass cost. As a result, the gross profit margin dropped in the consolidate income statement from 21% to 16% in 2017. World sugar price volatility At the beginning of 2017, world sugar price has

an increase in total revenue of 81% YoY. These were mainly from a (one-time) recognition of an upfront 50-year lease payment of a certain office space at Singha Complex and higher contribution from

end of 2017 declining to 5.0% from 5.6% at the end of 2016. On Special Asset Management business, the Bank sold non-performing assets (NPAs) totaling Baht 987 million and had gain of Baht 481 million

loans ratio at the end of 2017 declining to 5.0% from 5.6% at the end of 2016. On Special Asset Management business, the Bank sold non-performing assets (NPAs) totaling Baht 987 million and had gain of

, Maha Sarakam, Chiang Rai, Ubonratchathani and Chiang Mai – three branches have been operated at end of year 2015 and each quarter of year 2016 new two branches have been operated until the last quarter

% 100.00% Cost of sales (48.06 ) (37.80 ) (10.26 ) 27.14% (71.23%) (66.95%) Gross Profit 19.41 18.66 0.75 4.02% 28.77% 33.05% Other income 2.78 1.66 1.12 67.47% 4.12% 2.94% Gain on disposal of investment

% 100.00% Cost of sales (48.06 ) (37.80 ) (10.26 ) 27.14% (71.23%) (52.49%) Gross Profit 19.41 18.66 0.75 4.02% 28.77% 33.05% Other income 2.78 1.66 1.12 67.47% 4.12% 2.94% Gain on disposal of investment

2019 The progress of the MRT Blue Line Extension Project At the end of September 2019, the progress of the installation of the M&E Systems of the MRT Blue Line Extension Project (Hua Lamphong - Lak Song

underestimation of workload on major projects, which cause the loss at the contract profit margin level. One reason for net loss is because of the lower prices for these projects which were awarded during Q4/2017