located in Amata City Rayong Industrial Estate) on February 1, June 1 and October 1, 2018 respectively. EBITDA • EBITDA increased 5.4% y-on-y to Baht 9,199 million in 2018 due to the operation of new power
Page 1 of 7 Management Discussion and Analysis 2018 Executive Summary The operating result of 2018, Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reached total revenue of
debt level and severe competition in the real estate market, the Company is rated A- by Tris Rating Co., Ltd. The Company is, therefore, able to save costs from lower interest rate when raising funds
including SME Car3x loans expanded at 51.7%, personal loans increased by 18.7%, corporate banking loans expanded by 106.8%, Lombard loans expanded by 15.3% with real estate development loans also registering
) dated 20 February 2017 (effective on 1 March 2017). 2 (3) a trust fund or a fund established under the laws of a foreign country of which the main objective is to make investment in real estate or in real
2.03 27% Core EBITDA/t (US$/t)) 107 100 94 14% 97 86 13% Net Operating Debt to Equity 0.84 0.80 0.99 0.84 0.99 Note: (1) Consolidated financials are based upon elimination of intra-company (or intra
area and also from the decline in construction material sales in line with the slowed down in the real estate sector. Additionally, investment in machinery and equipment also contracted as exhibited by
from the decline in construction material sales in line with the slowed down in the real estate sector. Additionally, investment in machinery and equipment also contracted as exhibited by the decline in
99 หมู่ท่ี 1 นิคมอุตสาหกรรมไฮเทค ต าบลบา้นเลน อ าเภอบางปะอิน จงัหวดัพระนครศรีอยธุยา 13160 ประเทศไทย โทรศพัท ์(035) 350 880 โทรสาร (035) 350 881 www.aapico.com 99 Moo 1, Hitech Industrial Estate