1 Ref. FN. 011/2019 Management Discussion and Analysis For operation of the year 2018 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet business, featuring

service and project management service, generated THB 84m revenue to the Company in 2Q19, 33% drop from 2Q18 due mainly to the decrease in revenue from construction service. Revenue from sales of goods

million baht, an increase of 0.04 million baht or 27.10 percent due to the decrease of tenants 2.5 Construction costs of 16.01 million baht, an increase of 100 percent from the company is able to recognize

Exchange of Thailand According to Advance Connection Corporation Public Company Limited, the “Company” has submitted the financial statements of the Company and its subsidiaries for the 6 months period of

., Ltd. would like to submit the financial statement of the Company and subsidiary companies in Q1/2018 and present the details of the performance of the Company as follows: The business operation of L.P.N

property development projects in accordance with the company’s financial position. MahaSamutr Project: The construction in progress of MahaSamutr Villas are 95% completed. In 2018, the Company transferred

-Translation- 1 Ref. LPN/SorKor/060/2562 14th February 2019 Re: Establishment of a joint-stock company Dear Director and Manager Stock Exchange of Thailand Enclosed: Information on the establishment

. Engineering service (“EN”) had an increase in gross profit for Baht 20 million because of no revision of estimated project cost of construction and electrical engineering. 2. Management Service (“MS”) had a

2018, when the construction was completed. In addition, the Company has not launched new projects in the first half of this year. Of the total backlog at end of 2Q19, 35.3% was from The Lofts Silom, 30.1

MD&A Q3Y2019 (E) - 11.11.19 RATCH Group Public Company Limited Management Discussion and Analysis For the Three-month and Nine-month Periods Ended 30 September, 2019 Management Discussion and