” or “our” or “us”) would like to inform management discussion and analysis for its results of operations from the consolidated financial statements for the year ended December 31, 2018 as follows

“we” or “our” or “us”) would like to inform management discussion and analysis for its results of operations from the consolidated financial statements for the years ended December 31, 2019 as follows

follows: THB’000 Consolidated F/S ∆% Separate F/S ∆% 2018 2017 2018 2017 Revenues from Sales and Services 2,060,114 2,473,795 -17% 1,640,996 1,631,566 1% Interest income 2,302 1,045 120% 679 36,148 -98

” or “we” or “our” or “us”) would like to inform management discussion and analysis for its results of operations from the consolidated financial statements for the six months period ended Jun 30, 2019

“Company” or “we” or “our” or “us”) would like to inform management discussion and analysis for its results of operations from the consolidated financial statements for the nine months period ended Sep 30

Nirvana Daii Public Company Limited (“NVD”), a 52%-owned subsidiary of Singha Estate, invested in January 2017. 1Q18 consolidated net profit grew 651% YoY, as the performance incorporated (non-cash) gains

acquisition or disposition of assets, 2004”. The transaction size from the highest analyzed value, based on the net value of tangible assets, is subjected to 0.18% of net tangible assets of the consolidated

SET with this letter. The differences between reviewed/audited and unreviewed/audited net income were shown as below: (Million Baht) Consolidated The Company Only Net income 2nd Quarter/2017 six-month

Asset (Refer to Consolidated Financial Statement 28 February 2015) NTA of target company x %holding x 100 NTA of the listed company and its subsidiaries =57.36x80%x100 886.64 =5.18% Net Profit (Refer to

, primarily due to business combination consolidated TBSP Public Company Limited (“TBSP”) since April 4, 2018. Excluding TBSP, Company’s core revenues increased by 4.3% or THB 14 mil from q-q. For 6M19, Company