, office buildings and hotels, in the same complex as the shopping malls to support and maximize the benefits of the latter’s business. In 2019, CPN have made notable progresses in the following mixed-use

consist of residential projects, office buildings and hotels, in the same complex as the shopping malls to support and maximize the benefits of the latter’s business. In 2019, CPN have made notable

in merchandise exports, which started to impact domestic demand. Going forward, the risks to financial system stability need to be managed cautiously through both microprudential and macroprudential

benefit from structurally improving margins and capturing the volume opportunities. IVL has achieved notable progress on multiple strategic fronts and is increasingly well positioned to deliver sustainable

business. In 3Q18, CPN have made notable progresses in the following mixed-use development projects. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 4 of 15

business opportunity expansion. We also introduced assistance measures for SME customers affected by economic malaise, drought and the COVID-19 pandemic. Notable initiatives included:  Revolving Loan for

management of a fund by increasing from 20% to 100% the proportion of the fund's assets that can be sub-managed by a manager that is not regulated by a signatory.The revised Framework took effect on 23

%. Operating expenses decreased by Baht 18.7 million or 11.8% compared to Q3 2018. During the year, the hotel carefully managed costs while retaining a minimum impact on the quality of guest services and

14.61 million or increased THB 56.88 million or 134.57% because film production and distribution films’ right generated more revenue. Moreover, cost and expense of the Company was managed more effectively

decreased by Baht 39.0 million or 22.7% compared to Q2 2018. During the year, the hotel carefully managed costs while retaining a minimum impact on the quality of guest services and customer care. In addition