as follows: • Cash and Cash Equivalent increased by THB 145 million as the company transferred all short-term investment to cash in order to maintain overall cash flow. • Land, Property, Plant and

received from Thai Ethoxylate Co, Ltd. (TEX) and interest income of THB 148 million. In addition, the company had injected equity of THB 180 million to GKBI. Additionally, there was cash spending for

Securities and Exchange Commission, with Fast And Fair Valuation Co.,Ltd., who is the appraiser, using market approach for the appraisal. 2 The change is the result of the Thai Accounting Standard No. 16

offering of debentures each time and other relevant factors. Currency Thai Baht and / or foreign currency at equivalent amount The total value of the debentures Amount of total capital including debentures

Statement for Thai-incorporated Company to offer for sale of securities in Thailand and ASEAN member country simultaneously or in proximate period (ชือ่บรษัิททีเ่สนอขายหลักทรัพย)์ (Commercial Name of the

Page 1 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 Executive Summary Bank of Thailand, in late March 2020, slashed its forecast for Thai economy from the

mainly came from unrealized exchange rate of receivable under finance lease of Natural Gas Power Plant. At the end of the first quarter, Thai Baht is depreciated compared to exchange rate as of end of 2019

the business since 2017 and the fact that the Thai Baht value appreciated against US Dollar, the Company had loss on exchange rate, resulting in a decrease in net profit ratio (ROS) from 19.92% in the

its content acquisition to support the growth of the business since 2017 and the fact that the Thai Baht value appreciated against US Dollar, the Company had loss on exchange rate, resulting in a

Company had continuously increased its content acquisition to support the growth of the business since 2017 and the fact that the Thai Baht value appreciated against US Dollar, the Company had loss on