13.1% 14.6% -1.5% 12.3% 14.3% -2.0% In September 2018, the Company completed divestment of Interactive Communications – a subsidiary of the group - and booked gain on sales of investment of THB 12.3

สารสนเทศรายการได้มาซึง่สินทรัพย์ บริษัท บางกอก เดค-คอน จ ากดั (มหาชน) (BKD) บริษัท แอสเซท โปร แมเนจเม้นท์ จ ากดั (APM) - หน้า 1 - Information Memorandum on Acquisition of Assets Reference is made to

Page 1 Enclosure 5. Information Memorandum on the Acquisition of Assets of Safari World Public Co., Ltd.; An increasing of investment cost (No. 2) Enclosure 5. Information Memorandum on the

equity proportion is approximately 25 percent). The capacity expansion project is planned to begin construction in August 2018 and is expected to be completed and commence commercial operation

were 2 large projects which had been completed and delivered in 2018. While many projects in 2019 were small to medium-sized projects. Smart service business The Company had revenue from Smart service

Provincial Electricity Authority that started the project since the first quarter of 2018 has been completed in the first quarter of 2019. Smart service business The Company had revenue from smart service

have completed a couple of significant projects contributing to higher recurring revenue going forward. Revenue from overseas markets has improved YoY but was offset with the reduction in non-recurring

lent the money to Genesis Data Center Co., Ltd. and repay when completed applying loan with financial institutions. Other current assets increased 82.1 MB or 78.4 percent from the year 2017, since the

been completed on 19 February 2020. Page 2 of 7 Singha Estate Public Company Limited Management Discussion and Analysis 2019 On 11 December 2019, S Residential Development Co., Ltd., one of the Company’s

competitive activity on the export markets. We continue to see the positive impact of our acquisition of Saraburi Quicklime, which we completed in late Q1 2018, and is having a full, positive effect on Q1 for