million, 7.5% down from the same quarter of last year mainly because of the significant appreciation of THB/USD cause material cost increase in term of THB which has resulted in higher cost of goods sold

1,465.51 -535.02 -36.5% Other income 3.28 4.68 -1.60 -34.2% 8.14 9.94 -1.80 -18.1% Total revenue 522.19 750.37 -228.18 -30.4% 938.63 1,475.45 -536.82 -36.4% Cost of goods sold & service 454.43 658.94 -204.51

accounting policy and reclassification  1 Backlog include only sold units with sales and purchase agreements Management Discussion & Analysis ( - translation - ) For operating result of 4Q/2019, ended 31

Units of Infrastructure Trusts; 2 Clause 2 This Notification; (1) sets out the requirements to be used together with the requirements of the Notification of the Capital Market Supervisory Board on the

Maybank Securities (Thailand) Public Company Limited Between 27 October 2020 to 22 February 2021, Maybank Securities (Thailand) Public Company Limited as a Securities brokerage business has sold

Q3/2016. Q3/2017 Cost of Goods Sold The Company and its subsidiaries recorded cost of goods sold of Baht 1,054 million. Cost of goods sold to sales increased to 70.3% from 65.6% in Q3/2016 as a result

of changes in this report are based on the adjusted accounting policy and reclassification 1 Backlog include only sold units with sales and purchase agreements 2 Calculated from interest-bearing debt

2019 Change % Change Revenue from sales & service 411.58 719.81 -308.23 -42.8% Other income 5.01 5.57 -0.56 -10.1% Total revenue 416.59 725.38 -308.79 -42.6% Cost of goods sold & service 383.13 638.35

property development projects recently invested by the Company has been continuously decreased as 1 project was sold out and other projects mostly sold more than half of its sales units. 10. Opinion of the

) Performance Analysis Unit : MB For the year ended Change 2018 2017 MB % Net sales 1,057.38 1,054.67 2.71 0.26 Other income 47.74 46.50 1.24 2.67 Total revenues 1,105.12 1,101.17 3.95 0.36 Cost of goods sold