transactions: a) A 56% investment in DAII through an acquisition of DAII’s newly issued shares in January, in exchange for transfer of the Company’s 51% stake in Nirvana Development Co., Ltd. (“Nirvana”) and two

(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the year 2017 1 Significant events 1. Bangkok Expressway and Metro Public Company Limited

million Baht (3% of total revenue), a significant increase of 76 million Baht or 40% as compared to 2017. The total gross profits for the year 2018 was 2,863 million Baht (32% of total revenue), a decrease

total asset of the company and subsidiaries was Baht 500.92 million whereas Baht 564.75 million at the end of 2017 showing a decrease of Baht 63.83 million or 11.30 % decrease. The significant decrease

% Total Revenue 293.33 305.19 -11.86 -3.89% 288.96 302.33 - 13.36 -4.42% Sharing of gain (loss) from investment value of the associate and joint venture 3.54 -0.53 4.07 N.A. In the furniture business, the

.1/2020 on January 30, 2020 has approved the investment transaction in the meeting) The total assets of the company as of December 31, 2019 equals to 337,736,000 baht. The calculation criteria of the

Bt117,244mn following the economic environment and competition, offset by the significant increase in subscriber base with a net addition of 2.68mn. The strong net additions were driven by our strong

Thailand Demeter Corporation Public Company Limited ( the “ Company” ) informed the Stock Exchange of Thailand (SET) of the progress of investment in the Biogas Power Plant Project on November 12, 2019 that

purchase orders and postponing investment plans for additional capacity in the country temporarily. However, it is expected that the industry will recover in the second half of this year, so the Company

development projects namely Nimit Langsuan and MahaSamutr Country Club. This results in the significant decline in revenue. Revenue from gourmet food and beverages business • Revenue from gourmet food and