Analysis Cash and cash equivalents in 4Q 2018 end decreased to 39mTHB, down by 11mTHB from the 50mTHB at the end of Q3 2018. Major changes are increased financing cost due to the acquisition in Q1, income

operations within the business group. 2. Other Income Other Income which consist of storage tank fees, sales of scrap materials, interest income, gain on changes in fair value of short-term investment, and

%) from 31 December 2018 mainly from decrease in other components of shareholders’ equity (see reconciliation in statement of changes in equity). However, retained earnings increased THB 78 million as

Company were THB 1,200 million, increased by THB 103 million or 9% from 31 December 2018. Significant changes are highlighted as follows: • Land, property, plant and equipment increased by THB 93 million or

23.04 million had not been included, the net profit of the Corporate Group for Year 2019 would be Baht 548.27 million or an increase of 29.66 percent. Details of the changes or impacts are described in

of sales at Baht 0.4 million, selling and distribution expenses at Baht 1 million and administrative expenses Baht 1.6 million). For the subsidiary company, the expenses from the changes in the

addition, there were changes in assets and liabilities from operation which caused the increase in cash of Baht 409 million and payment for income tax expenses of Baht 25 million. Cash Flows from Investing

20 (Reversal of) loss on devaluation of purchase orders not yet incoming 28 Employee benefit expenses 4 Loss on write-off of assets 8 723 Changes in operating assets and liabilities Trade accounts

847 Changes in operating assets and liabilities Trade accounts receivable (60) Inventories (404) Other current assets (49) Other non-current assets (118) Trade accounts payable 335 Advances received

Telephone 02-6543344 Ext.119 http://www.pacedev.com http://www.pacedev.com/ 3 2017 MD&A: PACE Development Corporation PLC. The following is the overall business operations and significant changes during Q2