. management renew the management service contracts with appropriate profit margin only 2. solar energy which is a new business has higher gross profit margin than 2 existing businesses. Consequently, overall

176.19 Million Baht as revenue recognition was more than billing amount. - Purchase of tools and equipment for construction service and testing and inspection service business amounting of 24.43 Million

new projects that will be launched in 2019. Moreover, there are on-going negotiation with new partners for expansion of commercial building business. This could add up recurring revenue in the Company’s

companies operate real estate business and provide full real estate services. Since 2017, the projects developed i.e. residential condominiums and single houses have been remodeled to serve the needs of all

1 | MANAGEMENT DISCUSSION AND ANALYSIS FOR Q1-2020 Management Discussion and Analysis Q1-2020 14 May 2020 KEY EVENT IN Q1-2020 After UWC announced a corporate and business strategy restructuring in

. Due to the company has the potential of investment capital, debt collection systems and human resources in operation. Including being a business partner with financial institutions in help keep track of

of holiday club memberships increased by Baht 780 million. The revenue recognition of the property sales projects (Banyan Tree Deluxe Double Pool Villas, Banyan Tree Grand Residences, Cassia Phuket

holiday club memberships increased by Baht 863 million. The revenue recognition of the property sales projects, as a result of Banyan Tree Villas and Cassia Residence Phuket, was higher when compared to the

from the sales of 194.63 million Baht, cost of sales was 138.50 million Baht, net profit was 12.72 million Baht. However, the Company and its subsidiary have changed business strategy and enhance

Company’s business in Quarter 2 is traditionally softer compared to Quarter 1 and 4 due to low tourist arrivals in Phuket during this time of the year. Total revenue for the three-month period increased by