before FX per share (Baht) 5.71 4.95 0.76 Leverage Ratio and Liquidity Ratio Quarter 3 Quarter 2 Change Increase/(Decrease) 2017 2017 Debt to equity ratio (Time) - Consolidated 1.34 1.36 (0.02) - Company

owner of the energy drinks under Carabao trademark, has offered financial support to CVHLUX to the extent beyond current shareholding of 51%. The Change of overseas subsidiaries’ capital structure

beyond current shareholding of 51%. The Change of overseas subsidiaries’ capital structure, therefore, could be referred as a mechanism that reflects the control of the Company and subsidiaries over the

) Profit before FX per share (Baht) 5.25 4.35 0.90 Leverage Ratio and Liquidity Ratio Quarter 2 Quarter 1 Change Increase/(Decrease) 2019 2019 Debt to equity ratio (Time) - Consolidated 1.03 1.11 (0.08

in the industrial estate. BGRIM would leverage our expertise in selecting EPC and managing construction and funding, while our partners who are facility service providers to those customers would be

Profit Ratio (%) 31.54 28.03 3.51 Operating Profit Ratio before FX (%) 31.04 27.49 3.55 Profit Ratio before FX (%) 15.16 12.02 3.14 Profit before FX per share )Baht( 5.63 4.70 0.93 Leverage Ratio and

Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.16 31.12.17 31.03.18 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,228 1,119 1,202 Total Assets 1,361 1,242 1,322 Current Liabilities 914 784

, which increased from the same period of the previous year by THB 108 million from noncurrent assets THB 139 million, while the current assets were slightly decreased THB 31 million, which were mainly

% 12.9 33.1% Property development costs 243.9 9.8% 242.9 9.7% -1.0 -0.4% Other current asset 23.4 0.9% 28.9 1.2% 5.5 23.5% Management Discussion and Analysis Q1/2018 Page 3/4 JAS Asset Public Company

Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.16 31.12.17 31.12.18 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,228 1,119 1,154 Total Assets 1,361 1,242 1,268 Current Liabilities 914 784