33.33% stake, started commercial operation of its 8.6 MW waste-to-energy power plant in 4Q2019. PERFORMANCE BY BUSINESS Total Revenue and Share of Profit/(Loss) of Utilities Business in 2019 was Baht

be blessed with opportunities and growth potential. This project is developed by the joint venture, in which CPN through subsidiaries holds a sixty-percent (60%) stake and I-R&D Sdn. Bhd. (“IRD”), an I

holds a sixty-percent (60%) stake and I-R&D Sdn. Bhd. (“IRD”), an I-Berhad wholly-owned subsidiary, holds a forty-percent (40%) stake. The investment was a RM 830 mn (or approximately THB 8,300 mn). This

to the Company’s existing shareholders to mitigate an impact on those shareholders after the Company’s stake in CAZ is reduced. The transaction is considered the disposition of assets in accordance

shares of Co-Mass Company Limited (“COMASS”) with total investment of THB 160mn, thereby increasing MACO’s stake in COMASS to 100.0%. As a result, MACO fully controls COMASS, allowing us to utilise

Limited, the Company’s direct subsidiary, holds 40 percent stake), the operator of a small power producer in Nava Nakorn Industrial Promotion Zone, invested in an expansion for an addition of 60 megawatts

company of WHAUP group with 33.33% stake, started commercial operation of its 8.6 MW waste-to-energy power plant in 4Q2019. PERFORMANCE BY BUSINESS Total Revenue and Share of Profit/(Loss) of Utilities

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