baht or 7% over the end of fiscal year 2018. Consequently, book value as of August 31, 2019 was 77.4 baht per share, increased from 72.2 baht per share as of February 28, 2019. Debt to Equity ratio as of

Policy 31 Mar 18 31 Mar 17 Debt to Equity (times) 0.32 0.29 Posted acquisition TBSP at the 1st quarter 2018, the financial ratio showed Debt to Equity ratio in line with convenant of borrower banks and

660 466 6.Fixed Asset Turnover Times 2.5 2.7 1.98 7.Asset Turnover Times 0.46 0.49 0.40 8.Debt to Equity Ratio Times 0.08 0.10 0.11 9.Gross Profit Ratio % 34.3 34.6 35.2 10.Net Profit Ratio % 11.2 13.2

0,259mn  of  o 6,843mn  in 1H1 7 guidance of B This resulted in rowing  was  ounting Bt12,75 decreased  B ,526mn.  nancial Ratio  st‐bearing debt to ebt to equity (tim ebt to EBITDA (tim nt Ratio (times

’ equity. Appropriateness of the Funding Structure In Q3 2018, the Company had total debt to equity ratio of 14.1 times, increasing as compared to 2017 of 13.3 times. The interest-bearing debt to equity

Total 81,492 Total 81,492 Financial Position (Bt mn/% to total asset) 4Q17 4Q18 Key Financial Ratio 4Q17 3Q18 4Q18 Cash 10,650 3.7% 9,067 3.1% Interest-bearing debt to equity (times) 2.2 2.2 1.9 ST

times its total foreign-currency-denominated debt. The Thai baht stood at 32.55 THB/USD at the end of 2018, easing by 0.75 percent from 32.31 THB/USD at the beginning of the year. On the domestic front

CentralPlaza Mahachai. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 7 of 12 In 1Q18, weighted average financing cost stood at 3.17% Net debt to equity ratio stood at

ตัดจำหน่าย (interest bearing debt to EBITDA ratio) (เท่า) ความสามารถในการชำระภาระผูกพัน (debt service coverage ratio : DSCR) (เท่า) หนี้สินรวมต่อส่วนของผู้ถือหุ้นรวม (debt to equity : D/E ratio) (เท่า

. Continued elevated levels of household debt will likely contribute to a contraction in private consumption, while private investment is also expected to fall as the business sector delays investment in order