ที่ บช NO. AC. 01/2019 22 February 2019 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M. K. Real Estate Development

the 3-month period ended 31 March 2018 31 March 2019 Change Millions of THB % Millions of THB % Millions of THB % Revenue from sale of real estate 440.40 97.86% 346.20 87.55% (94.20) (21.39%) Revenue

detail as follows: I. The operating revenue breakdown by business segment In the second quarter of 2019, the Company and its subsidiaries’ revenue from sales of real estate decreased from the same period

from disposals of real estate 862.7 98.3 1,986.7 80.3 1,124.0 130.3 Revenues from project management - - 408.5 16.5 408.5 100.0 Other income 15.2 1.7 78.5 3.2 63.3 416.1 Total Revenues 877.9 100.0

, 2018. The operating results were, Description 1H/2017 1H/2018 Differentiate (Unit: Million THB) Million THB % Million THB % Million THB % Revenue Revenues from sales of real estate 2,024.2 98.5 5,612.6

the 6-month period ended 30 June 2018 30 June 2019 Change Millions of THB % Millions of THB % Millions of THB % Revenue from sale of real estate 975.70 97.59% 699.15 90.53% (276.55) -28.34% Revenue from

since GSTEL is currently in the process of debt restructuring and seeking funds from external source with aim to enhance its balance sheets and improve their financial strength. Thus, the financial

build the strength of grassroot people, and those who can take care of themselves should help the less fortunate groups to stand on their own. The government is doing its part to reform the laws and

strength of Thai industries as well as small to medium-sized companies in central and regional areas to seek opportunity for business expansion  with quality and competitiveness at the regional and

give support and advice on business restructuring, and fund raising. It will help enhance business potential in developing innovative products, which will eventually back the country?s economic strength