above. 6) GS can distribute water supply to user and reservoir can maintain an average water for distribution not less than 24,000 cubic metre per day and expected to be operated within the end of second

3.58 (0.38 ) (0.11 ) Total Revenue 113.10 142.72 (29.62 ) (0.21 ) Expenses Cost of sales 76.18 123.51 (47.33 ) (0.38 ) Distribution costs 15.40 11.92 3.48 0.29 Administrative expenses 45.78 38.88 6.90

was attributable to the Company has some fixed costs that unchanged irrespective of the revenue. Distribution costs The Company booked distribution costs amounting to Baht 1.87 million and Baht 2.82

and services 263.70 277.74 (14.04) (5.06) Total Costs of Sales and Services 753.19 734.65 18.54 2.52 Gross Profit 272.67 283.71 (11.04) (3.89) Other incomes 12.44 10.60 1.84 17.36 Distribution costs

services 59.31 64.61 (5.30) (8.20) Total Costs of Sales and Services 167.80 182.83 (15.03) (8.22) Gross Profit 57.22 65.77 (8.55) (13.00) Other incomes 1.16 5.31 (4.15) (78.15) Distribution costs 18.00 17.80

) 3,258 4,410 (1,152) (26.1) Profit before expenses 97,236 87,519 9,717 11.1 94,567 85,934 8,633 10.0 Selling and distribution expenses 25,530 26,689 (1,159) (4.3) 23,090 24,427 (1,337) (5.5) Administrative

(Translation) Pace Development Corporation Public Company Limited 87/2 CRC Tower, All Seasons Place 45th Fl., Unit 3, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Thailand Tel. +66 2 654 3344 Fax

BROKERAGE SECURITIES CO.,LTD. CRC TOWER, ALL SEASONS PLACE, 40TH FLOOR 87/2 WIRELESS ROAD LUMPHINI, PATHUM WAN, Bangkok 10330 Tel.022507909 Fax.022507909 17 AMUNDI MUTUAL FUND BROKERAGE SECURITIES (THAILAND

DAOL INVESTMENT MANAGEMENT CO.,LTD. 87/2 CRC TOWER, ALL SEASONS PLACE 52ND FLOOR, WIRELESS ROAD, LUMPINI, PATHUMWAN, BONGKOK 10330 LUMPHINI, PATHUM WAN, Bangkok 10330 Tel.02-6481555 Fax.02-6481060 7

, PATHUMWAN, BANGKOK 10330 LUMPHINI, PATHUM WAN, Bangkok 10330 Tel. 02-207-2100 Fax. 02-207-2101 17. DAOL INVESTMENT MANAGEMENT COMPANY LIMITED 87/2 CRC TOWER, ALL SEASONS PLACE 52ND FLOOR, WIRELESS ROAD