the Company’s expectation given the intense competition in certain areas, such as Nakhon Ratchasima. Although rental rate escalations were affected and discount rates were higher in certain locations

Company Limited Management’s Discussion and Analysis (MD&A) Page 5 of 14 Same store rental revenue growth stood at 4.2% YoY In 2Q19, same store rental revenue growth stood at 4.2% YoY, despite intense

, despite intense competition in certain areas, such as Nakhon Ratchasima. Overall the Company continues to achieve the targeted rental rate growth for the rest of the shopping malls. The same store rental

and constructions of new housing projects have been delayed. Except for product sales through small to medium sales representatives, which are located throughout the country, that could still open for

26.3% 1,935 16.7% 93.7% Long term loans 1,602 11.3% 601 5.2% 166.6% Debentures 998 7.0% 997 8.6% 0.1% Deferred rental revenue 508 3.6% 534 4.6% -4.9% Other non-current liabilities 1,475 10.4% 1,428 12.3

-current assets increased 10.21 million Baht, comprising investment in associate companies, long-term investment increased 23.05 million Baht; Investment property, property, plant and equipment, deferred tax

45.98 2.01% 45.98 2.03% Deferred tax assets 21.41 0.94% 21.60 0.95% Other non-current assets 3.88 0.17% 3.83 0.17% Total non-current assets 524.28 22.90% 534.41 23.53% TOTAL ASSETS 2,289.55 100.00

million Baht, comprising investment in associate companies, long-term investment increased 26.24 million Baht; Investment property, property, plant and equipment, deferred tax assets and other non-current

3.51 0.15% 2.76 0.12% Property, plant and equipment 544.27 23.20% 412.07 17.45% Intangible assets 0.37 0.02% 0.57 0.02% Deferred tax assets 15.56 0.66% 17.90 0.76% Other non-current assets 11.94 0.51

investment 2.76 0.12% 2.73 0.12% Property, plant and equipment 412.07 17.45% 448.52 19.75% Intangible assets 0.57 0.02% 0.76 0.03% Deferred tax assets 17.90 0.76% 21.60 0.95% Other non-current assets 3.71 0.16