the marketing expenses for the new project that launch in 2017, that they did not make recognition income in this period. Financial cost : The Company and subsidiaries had got the financial cost of the

in 2016 to Baht 357.72 million in 2017, or 9.49%, due to the increasing competition from the market and customers were unable to install them that affected sales recognition did not on the target

from USD Loan to related parties at WUPIN 7 One-time Accounting Adjustment is the revision of recognition of maintenance cost of Gulf SPPs (GVTP, GTS1, GTS2, GTS3 and GTS4) but this revision had impact

Related to FX Gain is derived from Gain on exchange rate from USD Loan to related parties at WUPIN 6 One-time Accounting Adjustment is the revision of recognition of maintenance cost of Gulf SPPs (GVTP

cost during mall closure period that no revenue recognition but still paid partially expenses. Nevertheless, the Company continues to implement effective and cost management and prudent cost control

at 35.3% decreased from 50.1% in the same period of previous year) mainly from a decrease in revenue proportion higher than a decrease in cost during mall closure period that no revenue recognition but

mainly from temporary close shopping mall. However, some restaurants are provided under take-away and delivery format. Cost of food center services The Company has amended the recognition of cost of food

according to new contract signed in June 2018. In 3Q19, total revenue stood at THB 9,413 mn, a 5.6% increase YoY. • Since 3Q18, CPN has started cost of rent and services recognition following the land lease

Phitsanulok. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 7 of 14 Revenue from hotel operations CPN adopted a new hotel revenue and cost recognition from 2019 onwards

THB 1 million or 2.4% from Q1/2019 mainly due to the recognition of reserve cost of commission of After You Durian branch that will cease operation in April. • Admin expenses to total revenue in Q1/2020