Prospectus System (MRAP)? for fund establishment. Listed companies? asset disposition to property fund, infrastructure fund or real estate investment trust (REIT) may impact their future revenue structure and

February 17, 2020 To: The President The Stock Exchange of Thailand Re: 2019 operating results We, Delta Electronics (Thailand) Public Company Ltd, would like to report the Company’s 2019 operating

Page 1 of 7 Management Discussion and Analysis 2018 Executive Summary The operating result of 2018, Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reached total revenue of

/2019. 2/ Impact from the adoption of Thai Financial Reporting Standards 16 Leases (TFRS 16) since 1 January 2020 which caused higher depreciation and interest expenses (net after tax). Operating

inventories as well as investment in property, plant and equipment. The Company’s total liabilities amounted to 1,202.87 million baht, dropped by 12.01 million baht comparing to September 30, 2017 due to the

Plc. (“the Company”) would like to summarize it’s for the year 2017 operating performance for the period ending 31 December 2017 as follows: The Company and its subsidiaries’ posted a net profit of THB

absence of revenue from the property development business and increase in administrative expense as explained above. Summary of Financial Performance Analysis of the Operating Results Revenues For the

investment in property, plant and equipment. The Company’s total liabilities amounted to 1,283.62 million baht, rose by 68.73 million baht comparing to September 30, 2017 due to the increase in trade payables

, trade receivables, as well as investment in property, plant and equipment. The Company’s total liabilities amounted to 1,321.31 million baht, rose by 106.42 million baht comparing to September 30, 2017

equivalent, inventories as well as investment in property, plant and equipment. The Company’s total liabilities amounted to 1,461.76 million baht, rose by 246.87 million baht comparing to September 30, 2017