affect the business operations, internal control, and financial reporting. Moreover, the company launches measures to deal with the changes sufficiently. 9.2 The company assesses changes in business models

reached 1,371.42MB, an increase of 78.15MB or 6% from 1,293.27MB in Q2 2016. This mainly resulted from a significant increase in USD zinc price and continued advantageous market premium, despite a decrease

(Unit : THB million) 2015 2016 9 months of 2017 Gross written premium 101.26 163.34 128.44 Net written premium 91.21 156.86 81.01 Total revenues 121.22 126.80 110.11 Underwriting and Operating expenses

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through support of investment and private spending as well as bolstering opportunities for other econo...

Premium 19.6 14.6 (5.0) (25.5%) Sales of electricity to Industrial Users (IU) 6.8 9.3 2.5 36.8% Sales from Biomass Power Plants 833.1 875.1 42.0 5.0% Revenue from finance lease under a Power Purchase

tariff and Ft 816.7 821.3 774.5 (5.7%) (5.2%) 2,314.6 2,402.5 3.8% FiT Premium 20.7 19.1 15.0 (21.5%) (27.5%) 68.6 53.7 (21.7%) Sales of electricity to Industrial Users (IU) 6.2 6.8 8.3 22.1% 33.9% 19.1

and Ft 774.5 793.1 895.9 13.0% 15.7% 2,402.5 2,540.2 5.7% FiT Premium 15.0 13.9 12.9 (7.2%) (14.0%) 53.7 41.4 (22.9%) Sales of electricity to Industrial Users (IU) 8.3 7.4 7.0 (5.4%) (15.7%) 21.9 23.7

real estate development and service business. The Company has developed premium housing projects in central business area to open up new business opportunities. Moreover, the opportunity in rental real

- Authorized 140.00 140.00 - - Issued and paid-up 140.00 100.00 40.00 40.00 Share premium 246.11 - 246.11 n.a. Retained earning Appropriated - legal reserve 5.09 5.09 - - Unappropriated 63.87 44.31 19.56 44.13

significant changes Balance by Quarter Change Q2–23 Q4–22 Q2–23 VS Q4–22 (MB) (MB) % Issued and fully paid-up 1,431.4 1,331.1 100.3 7.5 Share Premium 703.2 603.0 100.2 16.6 Unappropriated Retained earnings