approved by and registered with the Office, whose main objective is to promote and develop securities business in the category of asset management; “Custody agent” means any person whom a registered person

with the Office, whose main objective is to promote and develop securities business in the category of asset management; 1“Custody agent” means any person whom a registered person appoints as an agent to

with the Office, whose main objective is to promote and develop securities business in the category of asset management; 1“Custody agent” means any person whom a registered person appoints as an agent to

and registered with the Office, whose main objective is to promote and develop securities businesses in the category of investment management; “Customer” means any person who authorizes a management

been approved by and registered with the Office, whose main objective is to promote and develop securities businesses in the category of investment management; “Customer” means any person who authorizes

the Office, whose main objective is to promote and develop securities businesses in the category of investment management; “Customer” means any person who authorizes a management company to manage a

. Moreover, operators of modern construction material retail stores are still increasing the number of branches and group of project customers have continued to develop new residential projects.

value of the projects after deducting the value recognized of over than 20 billion Baht. The Company is aiming to sell and develop the projects as planned in the next 1 – 2 year later. In addition, the

continued to develop new residential projects.

venture was renamed to Ratchada Alliance; which U City still holds 50% of the ordinary shares. The purpose of this JV is to invest and develop real estate projects for sale. MANAGEMENT DISCUSSION & ANALYSIS