Management JMT Network Ref: IR59/ Subject: To

: Management Discussion and Analysis for the year ended 31 December 2017 To : The President The Stock Exchange of Thailand Summary of the Company’s Financial Position and Operating Result for the year ended 31

has increased by 1.25mb or 57.3% to 3.43mb (Q1 2018 : 2.18mb) as a result of better returns from our investments, as well as improvements in surplus cash management where we have invested surplus cash

sales of real estate 5,612.6 84.3 5,826.2 85.8 213.6 3.8 Revenues from project management 603.7 9.1 422.7 6.2 (181.0) (30.0) Dividend income - - 0.3 0.0 0.3 100.0 Gain from transfer of right for land

, working people and investors who buy and rent out condominium units. Apart from residential property development, the Company also provides real estate services and management service to other organizations

Expenses (1,775.1) (36.6%) (1,720.2) (36.5%) +54.9 +3.2% Add: Share of Profit/(Loss) from Investments (by equity method) 9.1 0.2% 12.0 0.3% -2.9 -24.2% EBITDA 999.4 20.6% 914.1 19.4% +85.3 +9.3% Less

long as the billboards continue to be used. Currently, this case is being considered by the Civil Court. The Company’s management believes that such events will not have any significant impact on the

December 2017. CPN continues to emphasize on effective revenue generation through new shopping malls, enhancement of existing malls, as well as efficient cost management. CPN currently manages 32 shopping

Global Green Chemicals Public Company Limited Management Discussion and Analysis For the Operating Results of 2Q2020 P a g e | 2 - Management Discussion and Analysis 2Q2020 - CONTENTS Executive

Price (Bht./Ton) 18,529 16,348 HRC Cash Margin (Bht./Ton) 1,848 2,427 Unit: million Baht 2017 2016 Gr ou p Total Assets 32,437 32,615 Total Liabilities 20,059 21,747 Total Equity 1,364 10,868 Average