enhancements benefitting both the top and bottom line as we expect 2020 to be a more successful year” 2. Outlook Economic growth was approximately 1.6% in Q4 2019 compared to the same period last year with

service business approximately 98 Million Baht and purchase of tools and equipment for construction service and testing and inspection service business amounting of 99.76 Million Baht to support the

) for the period of approximately 18 months. (Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on June 30, 2017 2 Overview

the main cost of sales of the Group. The Group also adjusted selling price since May this year, which causes gross profit margin to increase approximately 0.89% for the three-month period and 0.48% for

decreased by approximately 18.68 percent because the Company had sold lots of projects during the six-month period of 2016 more than during the six-month period of 2015. The gross profit margin from the sale

decreased by approximately 0.75 percent because the Company had sold lots of projects during the nine-month period of 2016 less than during the nine-month period of 2015. The gross profit margin from the

Rat-Outer Ring Road Expressway and Si Rat Expressway (heading to Chaeng Watthana) for the period of approximately 18 months. (Translation) Bangkok Expressway and Metro Public Company Limited Management

Company’s product selling pr ice approximately THB 1.00 – 2.00 / kg. in 3rd quarter of 2017. Even though, the Company has achieved to obtain the improved production yield and managed to have a quicker

% increased by 4.93% from 3rd quarter of 2016 of 96.46%, which was effected by the realized cost CPO used in production, was higher than the Company’s product selling price approximately THB 1.00 – 2.00 / kg

completed by Q2 2018. Meanwhile, the Company is continually transferring the Ritz-Carlton Residences, Bangkok to the customers. In Q3 2017, there were 27 residences transferred of which were approximately