Company Limited Q4’18 and FY18 Management Discussion & Analysis 27 February 2019 Q4’18 and 2018 Management Discussion & Analysis Page 4/7 cost improvement after commissioning of new glass plant at The Siam

Investment in Siam Gateway Co., Ltd. 24.50 1.88% calculated based on the total value of consideration basis 16 July 2019 Joint investment in food business expansion with Shanghai Kinghill Company Limited 5.03

system for 2 Industrial Estate such as (1) Siam Eastern Industrial Park Mabyangporn Sub-district, Pluakdaeng District, Rayong Province and (2) Wellgrow Industrial Estate Homsil Sub-district, Bangpakong

หมายเหตุ : ชื่อต่าง ๆ ที่น าเสนอเป็นนามสมมติที่สร้างขึ้นประกอบตัวอย่างการอธิบายเพื่อความเข้าใจ ในเอกสารรับฟังความคิดเห็น ตัวอย่างท่ี 1 บล. Siam Broker รับค าสั่งซื้อขายหลักทรัพย์จากลูกค้าผ่านช่องทาง online

plots with total areas of 6 rais 66.40 square wah (2,466.40 square wah) For this land appraisal, the company hires 2 independent appraisers, namely Siam Appraisal and Services Co., Ltd. (SASCO) and

  ของตลาดทุนและผู้เกี่ยวข้อง อาทิ ตลาดหลักทรัพย์   ณ paragon hall ชั้น 5 Siam  แห่งประเทศไทย                    แห่ง

expressed or implied by such forward- looking statements. Please note that the company and executives/staff do not control and cannot guarantee the relevance, timeliness, or accuracy of these statements

persons); therefore, it no longer has control in the company, resulting in the change of MACO’s status from a subsidiary to an associate company of VGI.  After the restructuring, MACO will focus on

Analysis (MD&A) 2019 Page 3/8 profit equal to 67 million Baht. It was due to a result of the strict credit control by the Company, causing an increase in revenue from collecting (Bad Debt Recovery

statements. Please note that the company and executives/staff do not control and cannot guarantee the relevance, timeliness, or accuracy of these statements. AIS Investor Relations http://investor.ais.co.th