gain (loss) 6.67 7.63 (12.65) Other income 3.80 11.42 (66.77) Total revenues 2,031.10 2,166.69 (6.26) Cost of goods sold 1,385.47 1,398.20 (0.91) Temporary shutdown expenses 75.92 159.15 (52.29

quarter of 2017. Thus it will become more challenging for the global steel industry participants in all the regions. Careful estimation for raw material purchasing and production cost management is

all the regions. Careful estimation for raw material purchasing and production cost management is seriously needed in order to cope with the more dynamic business environment. Management’s Discussion

recognizes the revenue from project management for 9 Condominium projects and 2 Hotel projects. 3. Gain on disposals of investment in subsidiaries, in the period of Quarter3/2019, amount of 35.0 million baht

price. Nevertheless, the company had improved the feedstock management, resulting in the recorded adjusted EBITDA of THB 346 million, a little decrease from the previous year by 2%. In addition, the

8 บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public Company Limited Management Discussion and Analysis Quarter 1 Ending 31 March 2018 G Steel Public Company Limited Page 1/12 Management Discussion and

8 บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public Company Limited Management Discussion and Analysis Quarter 1 Ending 31 March 2019 G Steel Public Company Limited Page 1/12 Management Discussion and

3,903 3,681 222 6.0% Sales and service income 3,628 3,588 40 1.1% Other income 127 92 35 38.0% Gain on disposal of investment 147 - 147 100% Cost of sales and services 3,400 3,351 49 1.5% SG&A expenses

reported under share of gain/loss from investment in joint ventures. Page 4 of 8 Singha Estate Public Company Limited Management Discussion and Analysis 3Q2019 9M19 operating performance of Hospitality

MD&A Q2Y2018 (E) -14.8.61(6.25PM) Ratchabur i Electr icity Generating Holding PCL Management Discussion and Analysis For the Three-month and Six-month Per iods Ended 30 June, 2018 Management