, increasing by 39.59 million baht or up by 8.83% from the revenue of 448.41 million baht booked in 2017. The revenue from equipment rental and service business and the studio rental and service business

) in UK was recognized under Equity Method and separately presented under share of gain (loss) from investment in joint venture. Hotel business recorded a revenue growth of 14% YoY in 4Q17 and 11% YoY in

1 Ref FN. 007/2020 Management Discussion and Analysis For operation of the year 2019 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet business, featuring

business, featuring both house brand and other brand products. To date, the Company has 12 outlets (Phetchaburi, Kanchanaburi, Pattaya, Pak Chong, Sing Buri, Hua Hin, Sriracha, Phra Nakorn Sri Ayutthaya, Hat

expenses -63 -43 -20 47.4% Net profit (loss) attributable to equity holders 410 410 0 0.0% Net profit (loss) attributable to equity holders Margin (%) 5.6% 6.5% -0.9% Net profit (loss) attributable to equity

revenue breakdown by business segment First quarter (Unit: Million Baht) 2020 2019 Change Change (%) Revenue from sales of real estate 1,626 3,053 (1,427) (47) Revenue from hotel operations 187 290 (103

in order to limit the movement of people, therefore, it resulted to the decrease in revenue from main business which affected in the traveling trips especially in April 2020. However, on May 3, 2020

an additional offer, i.e. prior to the implementation of the debt to equity conversion scheme, ACO I will make an additional Trade Debt reduction (i.e. a haircut) by waiver of the interest of USD

Bangkok Hotel of THB 42 million. In 2018, the Company reported total revenue of THB 5,565 million, a relatively flat from that of last year, despite the decrease in revenue from Education business, the

= Translation = Management Discussion and Analysis for Interim Business Operations The Information of Share Capital Registration and Entire Business Transfer The Company registered the change of