E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due

and offering of the newly issued preferred shares of the Company to (1) Unicorn Enterprise Company Limited (“UE”) as consideration for the entire business transfer of UE in the number of 70,064,516,130

offering of the newly issued preferred shares to be issued and offered to the existing shareholders in proportion to their shareholdings and to specific investors, disposal of assets, and convening of the

were the first-time home buyers who had no housing loan obligations and were impacted less by the BoT measure, the strict measure caused a significant negative effect toward real estate industry. In

during the fourth quarter of last year. In addition, the accelerating of the ownership transfer by some customers was due to the impact of the Bank of Thailand (BoT) housing loan control measure which

these housing units were well fit with customers’ demand. As a result, sale and transfer units were higher than MK’s projection. In addition, the Company was able to complete sell of all units in some of

housing development, the gross profit margin this year was 34.7% which was higher than 32.6% recorded in the previous year. The Company had a higher contribution from sale of Park Court units. (2) Rent and

. While the revenue from transferring ownership of housing projects for the Third quarter period of 2017 decreased by Baht 38 million or 1% decrease compared with the same period in the precedent year. The

-approved and backlog, 70% higher than the sales at the end of 2019. Although, MK received a lot of bookings from customers, MK was very careful in ordering the construction of new housing units. The Company