continuously increased over the past few years as evident from an acceleration of its advertising expenditures by 3.6%1 YoY to THB 1,678mn in 3Q 2017, benefiting from the shift in people’s behavior to spend more

outflow for PPE and interim dividend pay out in Feb’19. Current investment decreased by THB 904 million due to the shift from short-term to long-term investments (see more details in notes to financial

increased over the past few years, benefiting from the shift in people’s behavior to spend more time outside as well as its strength as being a media that reaches consumers when they are on the go and

the full effect of Saraburi Quicklime addedon March 19th. Similar to Q1 2018, the revenue was from core business, that is a major shift compared with H1 2017 when the contribution of Engineering was a

510 - 940 Million through the concession agreement period. Overview Operational Results In the first quarter of the year 2018, the Company had the net profit attributable to equity holders of the

Page 1 of 5 Performance Overview In 1Q18 Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reported a 7% YoY decrease in total revenues, mainly from a drop of revenues from

, Ratchadapisek Rd. Huaykwang, Bangkok  10310  F + 66 (2) 6452828,  + 66 (2) 6452829  VAT ID  0107538000151     Thailand W www.wiik‐hoeglund.com    Overview of the year 2018, sale and installation of the pipeline

Exchange of Thailand Business Overview In the year 2018, the Thai economy remained stable with the volatility of global economy including the impact of the trade war between the United States and China

2018 LH Financial Group Public Company Limited Management Discussion and Analysis for the year ended 31 December 2018 Page 2/21 Overview of Business Operation LH Financial Group Public Company Limited is

already been audited by the Company’s auditor can be summarized as follows: Overview of 2017 Business and Key Factors impact on the Company’s performance Overall of Non-Performing Loan situation in