decisions to slow down. Cost of goods for year 2019 was 72.0% of revenue compared last year was 63.32% The cost of real estate business has increased due to, in the year 2019 the old project has been

Microsoft Word - Ref FPI.012.2018.doc Ref. FPI.012/2018 26 April 2018 Subject Acquisition of up to 40% shares of total paid-up capital in TSE Overseas Group Company Limited To President The Stock

Writer Ref. No. 066/2562 14 May 2019 SUBJECT : Management Discussion and Analysis ending 31 March 2019 ATTN : The President Stock Exchange of Thailand The Company realized profit for the first

(Translation) No. IR/2561/010 27 February 2018 Subject: Acquisition of assets To: President The Stock Exchange of Thailand Enclosures: Information Memorandum of Singha Estate Public Company Limited

has deployed measures to stimulate short-term spending. Private investment also slowed due to a decline in the real estate sector. Meanwhile, the need for machinery investment was subdued due to lower

1 Ref. No. IVL 006/11/2017 9 Nov 2017 The President The Stock Exchange of Thailand Subject: Submission of Quarterly Reviewed Financial Statements and the Management Discussion and Analysis of

%. Quarter on Quarter Sales Revenue Analysis Quarter-on-Quarter, in USD terms, sales for the group decreased 5% to USD 163m in Q119 from USD 184m in Q418. In THB equivalent the group sales were down 8% in Q119

percentage point lower at 13% in Q219 down from Q218 at 14% due to higher higher labour and salaries expenses 1% . Page 1 of 3 Operating Profit Analysis Year‐on‐year operating profits, were 18% lower at THB

down from Q217 at 15% due to stronger THB/USD exchange rate [‐7%]. Page 1 of 3 Operating Profit Analysis Year‐on‐year operating profits were 4% lower at THB 517m in Q218 compared to THB 539m in Q217

Profit / Cost of Sales Analysis and Sales and Administration Analysis The Gross Profit margin was 6 percentage points lower at 12% in Q319 down from Q318 at 18% due to reduced economies of scale from lower