) (25%) Profit (Loss) before Income Tax Expenses 42 54 29% 61 96 57% Tax Expenses (8) (11) 38% (12) (19) 58% Net Profit (Loss) for the Company 34 43 26% 49 77 57% A n a l y s i s o f S t a t e m e n t o f

S&P MD&A Q1_2018-ENG -1- Ref. POL. 059/2018 May 08, 2018 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P

. Statement of comprehensive income Revenue from hospital operations The Company booked revenue from hospital operations amounting to Baht 217.32 million and Baht 394.03 million for the six-month period ended

30 June 2018 and 2017, total revenues of the Company which were Baht 475 million and Baht 530 million, respectively, decreased by Baht 55 million or decreased by 10%. Sales and service income for the

% 913 13% 945 104% Retail business 3,481 43% 3,254 45% 227 7% Total revenues from main business 7,815 97% 6,950 97% 865 12% Other income 265 3% 215 3% 50 23% Total revenues 8,080 100% 7,165 100% 915 13% 2

%) Retail business 875 44% 748 48% 127 17% Total revenues from main business 1,913 97% 1,521 97% 392 26% Other income 64 3% 49 3% 15 31% Total revenues 1,977 100% 1,570 100% 407 26% 2 EMS business In Q1’ 2018

Ethan Frome บริษทั ลากูน่า รีสอรท์ แอนด ์โฮเท็ล จ ากดั (มหาชน) LAGUNA RESORTS & HOTELS PUBLIC COMPANY LIMITED 21/17B, 21/17C, 21/65, 21/66 and 21/68, Thai Wah Tower I, 7 th , 22 nd and 24 th Floor

1,453.4 3.9% Income Tax (Expense) Income (6.4) (17.5) -63.4% (23.8) (44.2) -46.2% Profit attributable to Owners of the Parent 456.2 631.1 -27.7% 1,738.0 1,643.1 5.8% Foreign Exchange Gain (Loss) 10.4 124.9

income tax. Equities As of 31 March 2018, the company reported total Equities of Baht 988.6 million, increased from Baht 937.7 million by the year-end 2017, or increased by Baht 50.9 million or 5.4

Management Discussion and Analysis Year Ending 31 December 2019 G J Steel Public Company Limited Page 4/14 Appendix Unit : Million Baht For the year 2019 For the year 2018 % Variance Income Revenue from sale