approved list of the SEC Office; (15) “fund supervisor” means the supervisor of a fund; (16)2 “common person group” means the persons with one or more of the following relationships: (a) spousal relationship

) “ financial advisor ” means a financial advisor on the approved list of the SEC Office; (15) “ fund supervisor ” means the supervisor of a fund ; (16)2 “ common person group ” means the persons with one or more

under a 25-year PPA. These projects were able to achieve COD as scheduled in PPA while the construction cost was also in line with the budget approved by shareholders. 2019 will be the first full year

Investment in the Ordinary Shares of KPN Academy. In case that the Transaction on the Allocation of the Ordinary Shares for Payment of Shares of KPN Academy is not approved by the Extraordinary General Meeting

. Management Discussion and Analysis For the Year Ended December 31, 2018 Page 2 On October 30, 2018, the Board of Directors meeting of RATCH-Australia Corporation Pty Limited approved to increase the authorized

on loan for 2Q18 declined from 7.6% to 7.2% yoy due to the high growth of loan portfolio in the low yield segment – housing loans, corporate lending and real estate 6 development loans. Meanwhile, cost

declined from 7.6% to 7.2% yoy due to the high growth of loan portfolio in the low yield segment – housing loans, corporate lending and real estate 6 development loans. Meanwhile, cost of fund for 2Q18

Management’s Discussion and Analysis (MD&A) Page 3 of 15 Diversification into Mixed-use Development Projects In 1Q20, two new residential projects; ESCENT TOWN PHITSANULOK and NINYA KALLAPAPRUEK are launched as

efficiency as well as prepare upon re-opening. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 3 of 16 Diversification into Mixed-use Development Projects ESCENT TOWN

efficiency as well as prepare upon re-opening. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 3 of 15 Diversification into Mixed-use Development Projects ESCENT TOWN