COMPANY LIMITED ERW: THE ERAWAN GROUP PUBLIC COMPANY LIMITED ESTAR: EASTERN STAR REAL ESTATE PUBLIC COMPANY LIMITED ETC: EARTH TECH ENVIRONMENT PUBLIC COMPANY LIMITED ETE: EASTERN TECHNICAL ENGINEERING

houses, parking lot, and club house, where the company will gain from the transfer of this single house. In the future the Company might have plan to continue in real estate business if there is a good

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

of last year’s disposal of subsidiaries owning land plots at Bangkrachao; (xi) a decrease in real estate projects under development of THB 620mn. 35,710 46,886 4,352 7,475 40,062 54,361 31 Dec 17 30

: ESSO (THAILAND) PUBLIC COMPANY LIMITED ESTAR: EASTERN STAR REAL ESTATE PUBLIC COMPANY LIMITED ETC: EARTH TECH ENVIRONMENT PUBLIC COMPANY LIMITED ETE: EASTERN TECHNICAL ENGINEERING PUBLIC COMPANY LIMITED

Statement Cash Flows Statement Accounting Financial Ratios Business Performance Executive Summary Statement of Income 19 of Financial Position Environment Management 3 3 | Management Discussion and Analysis

manager” means mutual fund manager and private fund manager; (6) “property fund manager” means a person who makes decisions to invest or dispose of real estate or leasehold right of property funds; (7

% 5 Nakorn Real Estate Co., Ltd. 4,642,500 2.55% 6 Others 39,370,629 21.65% Total 181,890,622 100.00% Financial highlights: Management account Unit: Million Baht 31 Dec 20 Current assets 268 Non-current

at the threshold that is not less than the requirement under the Notification of the Capital Market Supervisory Board concerning the Issuance and Offering of Trust Units of Real Estate Investment Trust

: M.K. REAL ESTATE DEVELOPMENT PUBLIC COMPANY LIMITED ML: MIDA LEASING PUBLIC CO., LTD. MODERN: MODERNFORM GROUP PUBLIC COMPANY LIMITED MONO: MONO NEXT PUBLIC COMPANY LIMITED MOONG: MOONG PATTANA