million, increased Baht 13.82 million or 61.97% compared to Q2/2017 because company and subsidiaries had defaulted loan. 6. Profit for the period Company and subsidiaries had profit (loss) in Q2/2018 at

and the increase in other current liabilities 0.6 MB and the increase in employee benefit obligations by 8.0 MB.  Shareholders' Equity As of December 31, 2019, the Company and its subsidiaries had

short-term loan to financial institutions. And pay back some of the debentures for the shares due in May 2020. Shareholders’ equity as of June 30,2020 and December 31,2019 amount to Baht 1,673.78 million

, respectively. The main reason was from loan to related parties in AUD currency. As AUD currency depreciated in relative to USD currency, the asset value in AUD currency decreased. Management Discussion and

: million Baht 30-Jun-20 31-Dec-19 Total Assets 25,964 26,400 Total Liabilities 10,049 9,219 Total Equity 6,204 7,014 Minority 9,711 10,168 Gr ou p Gr ou p HR C Gr ou p Management Discussion and Analysis

and the Diplomat 39 which is a project purchased for sale • Net debt to Equity ratio2 as of 31 March 2019 equals 0.84 times Changes in accounting policy and reclassification in 1Q/19 During the three

11.79683 to 12.97016 billion THB. It is mainly because of the increase of loan from financial institutions for project development and operation of 674.42 million THB or 6.96% i.e. from 9.69195 billion THB

of short-term loan, with the group using money from the initial public offering to make this payment in Q3/1 7 which leads to the financial cost of existing business significantly decreasing from Q2/17

Profit. iii) a 19.8% lower of Finance Costs due to refinance the existing bank loan totaling of Baht 4,000 million in June 2018 In 1H2019, Profit attributable to Owners of the Parent was Baht 1,281.8

shareholders equity 0.6 (52) +101% % net profit (loss) 0.05% -3.96% Depreciation and amortization 73 59 -23% EBITDA 90 8 +1,003% %EBITDA 7.3% 0.6% หนา้ 3 Q1/2020 Sales Revenue The Company and its subsidiaries