342.26 million 3. Management Discussion and Analysis 3.1 Revenue from construction for the third quarter of 2019, has decreased when compared to the same quarter of 2018, by Baht 732.44 million or 30.51

revenue increased by 10.21% year-on-year. Sales and service income increased by 13.54%, with 9.39% increase in automotive parts businesses and 27.76% increase in dealership businesses respectively. The

Company’s amortization of intangible assets arising from the purchase of investments in associates and the result of associates’ delayed revenue recognition due to the delay in delivery of work. Consequently

amortization of intangible assets arising from the purchase of investments in associate companies and the result of associate companies’ delayed revenue recognition due to the delay in delivery of work

of water supply. Therefore the Company has seen the opportunities to expand into the water supply business in this area in order to create the additional revenue to the normal business. Furthermore

the price agreed between the parties based on the estimated revenue and market price. Details of subsidiaries established to purchase assets Company name : VHE Bratislava Real Estate s.r.o Office

efficiency of the new stores launched in the year 2017 to benefit from economies of scale. In the first quarter 2018, the Company had total revenue of 15,900.33 million Baht, an increase of 627.77 million Baht

, 2017 (After appraisal Asset) Total Assets 373.03 145.68 Total Liability 23.23 23.23 Registered and Paid-up Capital 85.00 85.00 Shareholders. Equity 349.79 122.44 Total Revenue 213.86 213.86 Expenditure

1,381 49.1% Company 1,265 1,381 (8.4%) TBSP 795 - 100% Mil THB 1,381 1,265 795 - 500 1,000 1,500 2,000 2,500 Y2017 Y2018 + 49.1% 2,060 Sales 2017 Sales TKS Sales TBSP Revenue Breakdown T.K.S. Technologies

consistent with the increased revenue in the contract manufacturing business of milk, drinks, and fruit juices. - Inventories increased by Baht 15.05 million, because the Company had to reserve packages and