+ F1 F2 F3 Very strong capacity for payment of financial commitments - a minimal difference compared With AAA AA+ AA AA- Aa1 Aa2 Aa3 AA+ AA AA- Strong capacity for payment of financial commitments - it

other law which has obtained securities business license after having the status of financial institution; (3) commercial bank; (4) other financial institutions as specified in the notification of the SEC

cost” resulting in the difference of maintenance cost being reported in Q1/2020 from the previous periods PAGE 11PAGE 11 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1/2020 Operating Results Revenue The

condominium which calculated from the difference of selling price and taxable cost of investment received by way of Entire Business Transfer in 2016. Please be informed in accordingly. Your sincerely, (Mr

transaction with arm’s length conditions that could occur according to the necessity of the Company business operations. 11. Opinion of the Audit Committee which is difference from that of the Board resolution

increased from the second period of the year 2017 due to the current liabilities decreased.  The Debt to Equity Ratio is equal to 0.11:1 times, indicating normal criteria and no significant difference from

difference from the Board of Director’s opinion None Please be informed accordingly Mr. Nathapol Eksangkul Vice President

development operations which comprise of property sales and the sale of holiday club memberships decreased by Baht 97 million. The difference is largely attributed to the lower revenue recognition of holiday

of holiday club memberships decreased by Baht 246 million. The difference is largely attributed to the revenue recognition of property sales projects namely Cassia Phuket and Laguna Residences which

, making the selling price lower than its cost in some units. The subsidiary report the difference in the cost THB 1.03 million. 2.4) Cost of Banqueting and Restaurant increase THB 24.91 million and cost of