by higher transfer value of residential properties and fair value adjustments on investment properties recorded in 2018 and 2019. Page 7 of 7 Singha Estate Public Company Limited Management Discussion

also be specified. 8 Part 3 REIT Supervision and Management 7. Information of REIT Unit and Unitholder 7.1 REIT unit: (1) specify paid-up capital, par value, amount of REIT unit at present; (2

disposed asset is located in the vicinity of Charan Sanit Wong Road, Bangkok, totaling 21 rais, 3 ngan, 45.3 square wa. The value of such land as appraised on May 22, 2017 by T.A. Management Corporation

parties are not related to listed company or subsidiary company, either to management and shareholders. - General transaction : The disposal of 4 plots of land totaling area are 75 rai 34 square wah. The

shareholders of Millcon on the trading floor for the stock market of MILL No.4 (MILL-W4) according to investment policy and financial liquidity management of the Company which a disposition price of warrants to

of Baht 289,544.82 per month (inclusive of value added tax of Baht 18,942.18). The said agreements have a term of three years from January 1, 2018 - December 31, 2020. 2 4. Total Transaction Value The

business support transaction for the company In this regard, With a value compared to last year's sales of not more than 50,000,000 baht and the total value not more than 3 % of the Net Tangible Asset (NTA

and obtained management and development rights for a mining project in Canada. Additionally, the board approved the issuance and offering of newly issued shares with a specified purpose at a par value

announced a measure for temporary liquidity management by allowing asset management companies to borrow or enter into repurchase agreements at the maximum rate of 30 percent, instead of the usual 10 percent

allowing to invest not less than 65% of net asset value in listed securities on the Stock Exchange of Thailand and the notification on waiving fees for the application and registration of such funds for