Baht 568.3 million in Q4/2019, decreased by Baht 126.7 million or 18.2% from Q4/2018. The decrease was mainly due to lower number of non-sales workforce employees at Index Living Mall stores, lower

Manager; (5) management: specify duties and responsibilities of agencies in charge of different areas of REIT operation, including readiness of the workforce of such agencies in terms of headcount and

. The amount increases were mainly driven by the rise in personnel expenses, rental cost, cost of services to customers, cost of transportation, and maintenance cost. However, SG&A as a percentage of

the previous year, mainly from an increase in personnel expenses which are related to the increase in the Company’s revenue. 2.2 Fees and service expenses The Company’s fees and service expenses in 2018

ratios stood at 68.47% and 72.47%, respectively. The higher ratio on a year-on-year basis was attributable to the Company having some costs in depreciation, personnel, drugs and medical supplies

decreased by 7.0% from expenses controlling initiatives • Administrative expenses increased by 3.1% from personnel expenses and allowance for the doubtful debts Nine-Month Period • Total cost of goods sold

higher than 6M’2016 which was 15.7% of total sales due to increase of personnel expenses. Net Profit Net profit of the company for Q2’2017 was Baht 417 million, increased by 44.3% or Baht 128 million from

corporate and government customers. Total Costs Costs of rent and services Costs of rent and services constituted utilities, security & cleaning services, on-site personnel, land rental, depreciation

(MD&A) 6 of 10 Total Costs Costs of rent and services Costs of rent and services constituted utilities, security & cleaning services, on-site personnel, land rental, depreciation & amortization, repair

. Selling expenses consist of personnel related expenses, which are for instance salary, social security, provident fund, etc. For the first nine months of 2017, selling expenses are increased by 16.01