services of the 52%-owned NVD. The initiative to expand residential business to landed property took place in April 2015, whereby Singha Estate invested in Nirvana, a mid-sized housing development company

, the reported revenues were from sales of housing units and home building services of the 52%-owned NVD. Page 3 of 6 The initiative to expand residential business to landed property took place in April

capacity and took advantage of our increased capacity to maximize production in anticipation of a strong sugar season. The fourth quarter was even stronger than forecasted with volumes up over 30% in

negotiation between the Company and the Seller and took into account the fundamental intrinsic value of the assets and business based on historical and potential earnings and cash flow of the business. It has

period last year (source: International Tourist Arrivals to Thailand April-June 2019, Ministry of Tourism & Sports). The Company was fully aware of the situation and took actions by implementing new

1% from the same period last year (source: International Tourist Arrivals to Thailand January-August 2 0 1 9 , Ministry of Tourism & Sports). The Company was fully aware of the situation and took

, Ministry of Tourism & Sports). Additionally, The Chinese government announced a ban on outbound group tours since 24 January 2020. The Company was fully aware of the situation and took actions by

63,393,825. Significant Events Amid sluggish in property market due to the tightening mortgage policy announced by Bank of Thailand took effect on 1 May 2019, neither cancellation nor rejection rate of the

renovation at CentralPlaza Rama 3 took around 6 months and is expected to be completed in December 2017. The occupancy rate of CentralPlaza Rama 3 at the end of 3Q17 was 59%, a decrease from the previous

received many large-scale projects which took longer to process than the short-term project. As a result, at the end of the Q4 – 2019, the Company had quite a lot of the equipment and the work in process