doubtful accounts 56.85 - 56.85 Earnings before interest and tax (12.13) 135.08 Finance costs - Main businesses 20.06 23.05 (2.99) -13% Finance costs - Solar energy 35.41 35.69 (0.28) -1% Profit before

Company reserved for loss from stock devaluation THB 34.83 million included in cost of sales 2.2) Cost of renewable energy increase THB 3.18 million due to year 2017 Solar Power Project on Rooftop of

courses, uniforms and all security equipment for the hired employees. 3. Gross profit of Solar energy (“SE”) decreased Baht (1.12) million, which mainly comes from an incident of electrical short circuit

its own solar power project operated by its direct subsidiary. SAAM Energy Development Public Company Limited - 2 - For the year 2018, revenues are THB 71.73 million, a THB 1.75 million or 2.37

mainly consists of (1) cost of security and cleaning services within site location such as the cleaning of solar panels, cutting grass, maintenance of equipment, and costs related to renewable energy

SAAM Energy Development Public Company Limited - 1 - 4 January 2019 Subject: Management Discussion and Analysis for the 9-month ended 30 September 2018 To: The President of the Stock Exchange of

Solar Energy Public Company Limited equivalent to 74,000,000 ordinary shares at the par value of Baht 10 per share, totaling transaction value of Baht 1,695 million 2. The meeting resolved to approve the

Limited (“TSEO”) which is a subsidiary with 100% shareholding by Thai Solar Energy Public Company Limited equivalent to 74,000,000 ordinary shares at the par value of Baht 10 per share, totaling transaction

resolved to approve the acquisition of up to 40% shares of total paid-up capital in TSE Overseas Group Company Limited (“TSEO”) which is a subsidiary with 100% shareholding by Thai Solar Energy Public

. Other income in 2017 increased by THB 0.36 million or 28.57% from the previous year mainly because the Group Company had revenue from consulting related to solar energy business and other extraordinary