. -Increased revenue from sales of machinery equipment and engineering services realized via deliveries in the 1st and 2nd quarter of 2017. -Decreased financial expenses due to further debt reduction and

of 2018. A summary of the Company’s operating performance in the first quarter of 2019 and 2018 is shown in the following table: 1Q19 4Q18 % Change 1Q18 % Change [Amount in Baht Million] Q-o-Q Y-o-Y

million in the second quarter of 2018. A summary of the Company’s operating performance in the second quarter of 2019 and 2018 is shown in the following table: 2Q19 1Q19 % Change 2Q18 % Change [Amount in

income recognition on the loan to SGAH. In summary, Q2 2019 performed better than Q2 2018, if not for unrealized loss on foreign currency exchange and non-recurring expenses of Baht 162 million. 1st half

of 2019. A summary of the Company’s operating performance in the first quarter of 2020 and 2019 is shown in the following table: 1Q20 4Q19 % Change 1Q19 % Change [Amount in Baht Million] Q-o-Q Y-o-Y

of 2019. A summary of the Company’s operating performance in the second quarter of 2020 and 2019 is shown in the following table: 2Q20 1Q20 % Change 2Q19 % Change [Amount in Baht Million] Q-o-Q Y-o-Y

65.96% Non-controlling interests - - - - Total comprehensive income attributable to Owners of the Company (87.66) (259.81) 172.15 66.26% Non-controlling interests - - - - 1. Operating revenue In summary

70.00 million Baht from sale of assets that the Company can further utilize as debt repaymentfor repayment of certain amount of commercial debts of the Company, which will relief risks from litigation to

Microsoft Word - S - MDA 4Q19_EN Page 1 of 7 Singha Estate Public Company Limited Management Discussion and Analysis 2019 Executive Summary Singha Estate Public Company Limited (“the Company

-Far East Company Limited made Myanmar SPA- Today-Far East Company Limited ending the status of an associate. Apart from that, both companies have no outstanding debt obligations. (7) Total transaction