is consisting of Bank deposit pledged as collateral decreased amount of 0.83 million Baht or 26.95%. Investments in associated companies decreased amount of 8.53 million Baht or 5.15%. Investment

received from investing activities was Baht 2,447 million. The dividend receives from the joint venture and other companies were Baht 2,838 million and cash receipts from interest income was Baht 88 million

company engaging in the management of hotels and investments in international hotel companies. Over the past four fiscal years (year 2016-2019), the Company’ s consolidated total assets has grown at an

disposal of ordinary shares in joint ventures and associated companies THB (191)mn. Net cash used in financing activities was THB (491)mn. The key components were the net repayment of long-term loans from

companies. Therefore, there was no similar type of business in the industry that can be used as a benchmark for comparison. Not include transaction related to the novation of the M&E systems under the

/Companies HPC Hongsa Power Company Limited, an indirect joint venture in proportion of 40 percent NRER Nexif Ratch Energy Rayong Company Limited, an indirect joint venture wholly-owned by NERS NRES NEXIF

were Baht 50 million. Additionally, cash payments for investments. Meanwhile, the dividend receives from the joint ventures and other companies were Baht 4,214 million and cash receipts from interest

Company has hold 99.99% of shareholders of four companies which are Asia Patana Land Co., Ltd (AP) is in real estate business. It has developed 5 property projects, consist of 3 projects as properties for

pledged as collateral decreased amount of 2.42 million Baht or 78.57%. Investments in associated companies decreased amount of 3.69 million Baht or 2.23%. Investment property increased amount of 2.27

Page 4 of 9 Overview The Company is a holding company engaging in the management of hotels and investments in international hotel companies. Over the past four fiscal years (year 2016-2019), the Company