) Revenue structure + (-)2018 3 | MANAGEMENT DISCUSSION AND ANALYSIS 2019 Revenue from steel tower manufacturing decreased by 37.21% as a result of rescheduling of production and delivery plan by major

AND ANALYSIS 2019 Revenue from steel tower manufacturing decreased by 37.21% as a result of rescheduling of production and delivery plan by major customer from 2019 to mid of 2020 due to eminent domain

and will acquire another 19% in 2020 with the total investment of THB 613 million. Unit: THB mn 1Q19 1Q18 Change Hotel business 1,171 1,364 -193 -14.1% Education business 118 122 -4 -3.3% Food business

1,008 -214 -21.2% 2,778 3,327 -549 -16.5% Education business 91 98 -7 -7.1% 286 301 -15 -5.0% Food business 98 7 91 1300.0% 310 15 295 1966.7% Others 638 7 631 9014.3% 942 300 642 214.0% Total revenue

9M18 Change Hotel business 794 1,008 -214 -21.2% 2,778 3,327 -549 -16.5% Education business 91 98 -7 -7.1% 286 301 -15 -5.0% Food business 98 7 91 1300.0% 310 15 295 1966.7% Others 638 7 631 9014.3% 942

customer are governmental sectors and state enterprises which are required to follow procedures and take time to examine documents before work delivery. Net Inventories decreased by Baht 65 million, or

statement ended December 31, 2017       4) Value of Consideration The purchase price shall be Baht 98,520,000 with 100% payment upon delivery and inspection at the warehouse or POC. 5) Calculation of

item Baht 497,000.- Total Baht 5,181,500.- - Remuneration policy : Price depending on the market price and negotiation - Payment term : Payment within 30 days after delivery of the assets (7) Funding

District, Samut Prakan Province - Remuneration policy : Price depending on appraisal price of valuer and negotiation - Payment term : Payment within 30 days after delivery of the assets. The buyer and seller

Company and its subsidiaries of 552 million Baht, compared to that of 1,023 million Baht in the second quarter of the year 2016. As the subsidiary has completed the delivery of the entire Optical Fiber