Investment Activities amounted to 232.94 million Baht. This was mainly due to the investment in property, plant and equipment as well as advance payments for construction in an amount of 82.64 million Baht

SHR MD&A EN Management’s Discussion and Analysis S Hotels and Resorts Public Company Limited S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com Page 1 of 8 August 13, 2020

2018, we had total assets of THB 949.0 million and THB 5,550.7 million, respectively. Our assets were mainly consisting of cash and cash equivalents, trade and other receivables, inventories, property

1 Ref. FN. 033/2018 Management Discussion and Analysis For operation of the second quarter of year 2018 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

corporate customers. PASSET’s mutual fund AUM as of 31 December 2018 was Baht 64,618 million with total 29 funds under management consisting of 26 mutual funds and 3 property funds. PASSET’s market share in

baht. From receiving short-term loans and long-term from financial institutions in the amount of 12.74 million baht, receiving advance payment of 8.82 million products. And payment to buy property and

million, increasing 8.90% from the end of last year. The majority of total assets consist of cash and equivalents, short-term investments, trade receivables, and other receivables, property, plant and

) • Impact of adoption in TFRS 16 on Consolidated financial statements At 1 January 2020 (in thousand Baht) Increase in right-of-use assets 1,049,021 Increase in deferred tax assets 8,596 Decrease in property

property, plant and equipment. Cash spent and repayments of loans from financial institutions mainly contributed to the mild drop in total assets. Total Liabilities As of 30 June 2019, the Company held total

1 / 7 Explanation and analysis of financial performance and status for Q3/2018 • Explanation and analysis of financial performance for the nine months at the end of 30 September 2018 • Explanation