liabilities stood at THB 7,174.9mn • Debt to Equity ratio stood at 1.04 times as of 31 December 2019, decreased from 1.14 times as at end of 2018 Change in accounting policies and reclassification in 2019

1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE For

1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE In

correctly prepared under accounting standards generally-accepted in Thailand. 4) Key contracts and licenses of S-TREK are duly and continually in force. 5) There is no breach of loan agreement or any other

the financial reporting currency and the Thai Baht should be provided, using the exchange rate designated by that country for this purpose, if any: (a) at the latest practicable date; (b) the highest

not covered by Thai Financial Reporting Standards, mutual funds or trusts shall specify the accounting policy used in recording such matter in notes to the financial statement and provide an explanation

Financial Reporting Standards No. 16 since the beginning of this year. Causing the subsidiary companies to record the rental decreased. Management Discussion and Analysis, Q1/2020 Page 3/ 7 Jaymart Public

mainly were Unrealized Foreign Exchange Gain which was an accounting item that has no effect on cash flow. 2 Profit attributable to Owners of the Parent In 2018, Profit attributable to Owners of the Parent

gross profit margin in the second quarter of 2017 was 59.8%. This gross margin had accounted for the fair value adjustment of the acquired business according to the accounting standards under WHA level

Street English”. The revenue from English language school is recognized according to the international accounting standard which recognizes revenue gradually according to contracts period entered into