channel, dated 10 May 2019. 3.3 Rationale and background of the transaction Currently, the Company encounters the situation of the lack of financial liquidity and the cash flow for debt repayment and

Page 2 Management Discussion and Analysis 1. Significant events in the first Quarter of 2018 1.1 The progress in construction projects 1.1.1 Process of construction - Xayaburi Project, a project of the

total capacity 64% 49% 82% 83% 75% 68% Average (2009-2018) 69.95 13.23 55.79 137.55 30.01 214.15 Above/(below) average (2009-2018) 5.07 (2.68) 9.30 (0.90) 4.23 (12.14) 4. SIGNIFICANT EVENTS 12 July 2018

broadcasted on digital television channel. Meanwhile, there were advertising events with the customers who is operate the digital TV station to promote its contents in last year while there were no these events

income, income earned from one-off events, etc. (2) Percentage margin is calculated by dividing Gross profit from sales by Revenue from sales (3) Percentage margin is calculated by dividing Gross profit

) (110.76) 4. SIGNIFICANT EVENTS As of 26 June 2019, TRIS Rating affirmed the company rating and senior unsecured debenture rating of Eastern Water Resources Development and Management PLC at “A+” with

(NLA) of 1.6 mn sqm. 2Q17 Major Events The conversion of CPN Retail Growth Leasehold Property Fund (“CPNRF”) into a new Real Estate Investment Trust (REIT) on 31 May 2017, the Board of Directors has

continuously. Including repayment to loans from financial institution on due period (loan in 2016 and 1st repayment in January 2017). So the debt to equity ratio as decrease. The above events reflect of the

SG&A expenses did not increase significantly. Management Discussion & Analysis Q3/2019 Q3/2019 Significant Events More Pop-Up Stores have been set up to increase accessibility to customers After

improvement from 0.55 times at the end of last year. Current ratio as at the same date and period stood at 2.47 times SIGNIFICANT EVENTS 7 January 2019: Vienna International Hotelmanagement AG (VI) acquired 100