debt to equity (times) 2.2 1.9 1.9 Trade receivable 14,179 5.0% 15,969 5.6% Net debt to EBITDA (times) 1.2 1.4 1.2 Inventories 3,951 1.4% 4,670 1.6% Current Ratio (times) 0.4 0.5 0.5 Others 3,418 1.2

Net profit (from operation) (%) 22.3% 13.5% Account receivable turnover (times) 5.3 4.7 Net profit (after MI) 2 (%) 23.6% 15.6% Average collection period7 (days) 69 77 Return on equity3 (%) 17.4% 13.8

in operating assets and liabilities of Baht 155 million; and (2) cash inflows from net change in working capital of Baht 88 million, mainly due to increase of account receivable and a decrease in

profit (from operation) (%) 13.7% 4.6% Account receivable turnover (times) 3.2 3.8 Net profit (after MI) 2 (%) 16.1% 5.4% Average collection period7 (days) 114 96 Return on equity3 (%) 13.7% 6.1% Payable

investment 2,963 1.1% 2,768 1.0% Trade receivable 11,377 4.1% 11,466 4.1% Inventories 3,085 1.1% 4,442 1.6% Others 3,248 1.2% 3,230 1.2% Current Assets 31,899 12% 31,987 11% Spectrum license 115,378 42

projects for sales under development of 12,987.3 Million Baht, Account Receivable of 371.5 Million Baht. Additionally, there were building improvement, sales gallery and equipment of 2,317.6 Million Baht

2,963 1.1% 2,495 0.9% Net debt to equity (times) 2.57 2.03 2.30 Trade receivable 11,377 4.1% 12,939 4.6% Net debt to EBITDA (times) 1.53 1.32 1.39 Inventories 3,085 1.1% 2,519 0.9% Current Ratio (times

are as follows: Details (Unit : Million Baht) Accounts receivable under the Debt Restructuring Agreement 98.16 Less: Payment received on December 30, 2015 (2.68) Payment received on February 8, 2016

4Q17 Cash 11,226 4.1% 10,650 3.7% Interest-bearing debt to equity (times) 2.3 2.5 2.2 ST investment 2,963 1.1% 2,643 0.9% Net debt to equity (times) 2.0 2.3 1.9 Trade receivable 11,377 4.1% 14,179 5.0

development of 12,987.3 Million Baht, Account Receivable of 371.5 Million Baht. Additionally, there were building improvement, sales gallery and equipment of 2,864.6 Million Baht. Moreover, the goodwill