quarter. Please be informed accordingly. Sincerely yours, __________________________ (Mr. Kusol Sangkananta) Director/Chief Executive Officer

, estimation of staff benefits, deposit of rental and service fee and other non-current liabilities. Please kindly be informed accordingly. Sincerely yours, (Mr. Opas Sripayak) Chief Executive Officer and

resolved to approve the Board of Directors and/or Chief Executive Officer and/or a person assigned by the Board of Directors and/or Chief Executive Officer to be empowered to consider and determine other

on Connected Transactions. In this regard, the Board of Directors’ meeting resolved to approve the Board of Directors and/or Chief Executive Officer and/or a person assigned by the Board of Directors

. Please kindly be informed accordingly. Sincerely yours, Mr. Opas Sripayak Chief Executive Officer and Managing Director

Jaroon-Ek) Chief Executive Officer

. Kusol Sangkananta) Director/Chief Executive Officer

Page 1 of 7 Management Decision and Analysis Q3’18 Executive Summary The operating result of the third quarter of 2018 (Q3’18), Singha Estate Public Company Limited (“the Company” or “Singha Estate

increased by THB 13.00 million or 8.11% from the end of year 2017 mainly due to increase in net profit from operation. Please be informed accordingly, Yours sincerely, Mr. Podduang Kongkamee Chief Executive

. Sincerely yours, (Mr. Chung Sik Hong) Chief Executive Officer