Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 Liquidity and Capital Structure As of 30 June 2019, the Group had a current ratio of 1.37, increase

from construction contracts 540.31 340.68 199.63 58.60 954.66 715.22 239.44 33.48 - EPC Services 169.66 171.66 (2.00) (1.17) 210.88 415.49 (204.61) (49.25) - Structure Mechanic and Pinging (SMP and E&I

. Appropriateness of the Funding Structure In 2Q 2019, the Company had total debt to equity ratio of 81.6 times increased from 1Q 2018 at 16.1 times. The interest-bearing debt to equity ratio was 54.7 times increased

) (%) 13.04% 10.68% Return on Assets (ROA) (%) 6.60% 5.59% Capital Structure and Debt Ratio Debt to Equity ratio (time) 0.92 0.86 Debt Service Coverage ratio (DSCR) (time) 2.25 2.09 Note: 1) Gross profit and

shareholders and the share repurchase of the subsidiary. The appropriate of capital structure The debt to equity ratio as at 30 June 2018 was 2.4: 1, increased from the debt-to-equity ratio as at 31 December

appropriate of capital structure The debt to equity ratio as at 30 September 2018 was 2.5:1, increased from the debt-to-equity ratio as at 31 December 2017, which was 2.0: 1. The increase was due to the

’ equity. Appropriateness of the Funding Structure In Q3 2018, the Company had total debt to equity ratio of 14.1 times, increasing as compared to 2017 of 13.3 times. The interest-bearing debt to equity

| www.shotelsresorts.com Page 7 of 7 Analysis of Financial Position and Investment Structure The total assets as of June 30, 2019 was THB 25,631.0 million increased THB 1,241.3 million from December 3 1 , 2 0 1 8 , because

Financial Position and Investment Structure The total assets as of September 30 , 2019 was THB 26,903.4 million increased from THB 2,513.8 million as of December 31, 2018, which consists of THB 84.8 million

Appropriateness of the Funding Structure In 3Q 2019, the Company had total debt to equity ratio of 76.7 times increased from 4Q 2018 at 16.1 times. The interest-bearing debt to equity ratio was 47.9 times