declines in gains on investments and net fees and service income. The decrease in net fees and service income was due to the exemption of transaction fees via digital channels and lower fees from loan

for 2018 were THB 16,647.02 million, decreased by THB 281.45 million or 1.66% down from 2017, Revenue from feed segment declined by THB 250.97 million or 7.43% down from 2017 mostly from lower revenue

percent of the total shares of NEXT, from the Seller. The Company shall pay for the share acquisition upon a condition that the payment amount is varied according to the calculation from the earnings before

earnings before interest and taxes (EBIT) based on NEXT’s operating performance reported in the audited financial statements for the year ended December 31, 2 0 2 0 (the “Financial Statement”), and the

profit (attributable to equity holders of the parent) of Baht 228 million and Baht 486 million for the second quarter and the first six-month period of 2018, compared to consolidated net profits

it consists of present land cost and construction expenses which are close to the actual cost. However, the mutual agreed price is lower than the appraisal value of both methods which makes the most

(MB) 22.4 21.9 2.3% EBITDA (%) 9.9% 9.7% Earnings per share (Baht) 0.02 0.02 0.0% Remark : EBITDA = Profit before finance costs, income tax, Depreciation and Amortization Statement of Income : Million

net profit of 177.26 million baht, while the separated statements show the net profit of 88.95 million baht. Comparing to year 2016, both statements show the decrease of the net profits by 54.08 million

Page 2 Management Discussion and Analysis 1. Power Industry and Competition 1.1 Electricity industry and Economic situation in Thailand Thailand’s economy expanded by 2.4 percent in 2019, lower than 2018

of January 31, 2017 is due to reducing in retain earnings of which used for clearing the internal debt between CRSB and FKRMM. 2) Transaction’s size based on net operating profits Net operating profits