. However, the Company has no plan to develop or use such property. Furthermore, the cashflow from disposition of the land can be used for developing a new corporate office building in order to expand its

and other lifestyle privileges via the K-Payroll Benefits program. 3.4 Service Channels In the third quarter of 2018, KBank maintained our commitment to developing efficiency in all our core service

to us. These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements

-Café 2 Catering / Pop-up 3 4 1 Franchise Fee Income 4 • Revenue recognition of initial franchise fee • *Actual franchise fee recognized in Q4/2019 was THB 0.9 million Management Discussion & Analysis YE

concession arrangement in accordance with percentage of completion of the fair value of assets. The Group’s management also recognized cost of construction under a concession arrangement at actual cost

considered recording the revenue in line with the actual receivables. Other revenue such as rental income and interest income for the year ended 31 December 2019 was 115.8 million baht, an increase of 6.4

uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking

profit margin because it is an estimation of revenue and cost against actual usage. Normally, the Company can control cost for project management so during the project closing, profit margin of

assumptions and beliefs in light of the information currently available to us. These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially

area is different from the area specified in the agreement, the amount of payment increase/decrease The purchase agreement contains a condition allowing that, in case of a difference between the actual