9M19, 43% drop from 9M18 and THB 41m in 3Q19, 65% declined from 3Q18, due mainly to the decrease in revenue from business management service. Page 6 of 8 Singha Estate Public Company Limited Management

profit and loss statement will start to decline since 3Q/2019 onwards due to a decrease in CFC fees, in line with the adjustment of sponsor status from Principal partner to Global partner, which will last

launch of Singha Complex in late 2018. 2019 Net profit at THB 1,209m, or 16% decline YoY, due to various factors, namely profit margin during early stage of 2 hotels in Crossroads project phase 1

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

assets. Total liabilities stood at THB 42,533m while interest bearing debt was THB 29,466m. A decrease of gearing ratio from 1.53x to 1.44x and a decline of net gearing ratio from 1.35x to 1.28x were as a

Exchange (Baht 58 million). The Consolidated Net Loss stands at Baht 869 million against Baht 431 million due to drop in sales volume and selling prices. Unit : million Baht Q 3/2019 Q 3/2018 Group Revenues

follows: - Operating cash flow before changing in operating asset and liability Baht 40.32 million - Trade and other receivable decrease by Baht 29.70 million - Inventories increase by Baht (2.74) million

, net cash received Baht 51.99 million has essence transaction as follows: - Operating cash flow before changing in operating asset and liability Baht 28.17 million - Trade and other receivable decrease

% decrease. The significant decrease came from Baht 80 million loss whereas Baht 52 million impact on asset and the rest impact on liability. Total Liabilities As ended March 31, 2019, the company and its

promotion decrease. Selling expenses for Q2/2019 amounting of Baht 16.73 million. (2018: amounting of Baht 17.79 million). 4) The administration expenses amounting to Baht 13.98 million, increased by Baht