losses for the past several years as shown in the financial statements of the Company, which affected the financial liquidity and adequacy of cash flow used as working capital of the Company. Therefore

ต่อหุน้ตามล าดบั ควบคูไ่ปกบัการทบทวนประมาณการทางการเงิน 5 ปี ของทั้ง KPPH และ CCPH รวมไปถึงวธีิมูลค่าปัจจุบนัของกระแสเงินสดสุทธิ (Discounted Cash Flow – DCF) และ Guideline public company method (GPCM

affected the financial liquidity and adequacy of cash flow used as working capital of the Company. Therefore, the Company had to cease its production in 2012 and 2013. Enclosure 4 3 In 2014, the Company

Management Discussion and Analysis (MD&A) 18 Cash Flow Analysis Cash Flow (unit: THB million) Q2/2020 Net cash flow from operating activities 10,447 Net cash used in investing activities (2,239) Net cash flow

stream of rental income for REIT by explaining overview of business such as demand and supply of business in which the asset is located; 7 3.2 explain marketing policy and competitiveness of invested

People’s Democratic Republic (Lao PDR). Moreover, in the first 6 months of 2017, the company and its subsidiaries had gain net cash flow for Baht 1,636 million by gaining net cash flow from operating

operators in the same business and various investors for the estimated cash flow of NPLs management business. Cash collection from NPLs management business reflects interest income from loans purchased, gain

Discussion and Analysis (MD&A) for year 2017 21 Table 6: Consolidated Statement of Cash Flow Unit: Million Baht 2017 Cash flows from operating activities Gain (loss) for the years 366 Adjustments for

12,391 10,868 14% Total liabilities and equity 32,172 32,615 (1%) Management’s Discussion and Analysis (MD&A) for year 2017 (Revised) 21 Table 6: Consolidated Statement of Cash Flow Unit: Million Baht 2017

Million, as appraised by Advisory Plus Company Limited, the Company’s financial advisor, based on the Discounted Cash Flow Approach, which reflects the future operational results of XPCL. Furthermore, such