deferred revenue. However, during the period 2019, the Company has reconsidered the remaining guarantee EBITDA and found that existing risk and reward were insignificant. The Company has therefore reversed

385.7 (64.1%) Net Profit 406.6 99.3 (75.6%) Normalized Total Revenue/1 3,598.1 1,399.5 (61.1%) Normalized Net Profit/2 285.0 196.5 (31.1%) Normalized Total Revenue excluding Deferred Revenue Item/3

7,355 65 21 7,329 7,376 (47) (1%) Profit (Loss) before FX, deferred income tax, impairment and impact of lease income 9,054 9,035 214 122 9,268 9,157 111 1% Loss from impairment (352) (509) - - (352) (509

one project affecting a reduction of income of Baht 20.51 million and the estimation of penalty charge of one project expected to be delayed affecting a reduction of income of Baht 2.56 million

amortization of intangible assets arising from the purchase of investments in associate companies and the result of associate companies’ delayed revenue recognition due to the delay in delivery of work

2020 MD&A 6  We are seeing a trend in industry that due to poor margin number of cracker, PO/MTBE projects have been delayed to conserve cash; this will help to restore the margin to replacement

subsidiary recorded net profit of 3,635 MTHB, increased by 576 MTHB or 18.8% comparing to year 2018, which due to the recognition of deferred tax assets from loss carried forward of the Company and its

revenues for the year 2015 and 2016 were 1.4%. Income Tax Income tax including corporate income tax and derferred tax which derived from the adjustment of deferred tax assets (liabilities). Income tax for

incurred from deferred tax. This extra transaction was included in year ended 2017 financial statement for the net amount of THB 24 million. Revenue from Hospital Operations Revenue from hospital operations

Development and consultant fee for tourism at Baht 3.56 million. Income tax (expense) revenue For the 3 months period (quarter 2/2018), the Company has deferred tax expense at Baht 0.30 million which decreased