88.48 (28.35) (32.04) Total shareholders’ equity 465.74 106.99 358.75 335.31 Assets The Company and its subsidiaries had total assets of Baht 525.87 million as at December 31, 2019, surging by Baht 330.40

fees. Aviation Refueling Services 81% Fuel Pipeline Transportation Services 19% Services Income structure in 2019 Page 4 of 6 As a result, in 2019, the Group had expenses for cost of services and

Total liabilities 60.13 88.48 (28.35) (32.04) Total shareholders’ equity 465.74 106.99 358.75 335.31 Assets The Company and its subsidiaries had total assets of Baht 525.87 million as at December 31, 2019

. Financial Position As at December 31 Change 2019 2018 MB MB MB % Total assets 525.87 195.47 330.40 169.03 Total liabilities 60.13 88.48 (28.35) (32.04) Total shareholders’ equity 465.74 106.99 358.75 335.31

Company's income from education business was THB 75.8 million, decreased by THB 5.9 million, or 7.3% yoy. This is mainly due to a decrease in revenue from educational management as a result of the

improved from 0.25 to 0.21 times as a result of lower debts and higher equity. Shareholders' Equity As of March 31, 2019, shareholders' Equity was Bt12,277 million, an increase of Bt270 million, mainly due

Baht 76 and gross profit margin for the second quarter of 2019 was decreased from 20% to 14%. It was due to the increase in cost of sales, which was the result of manufacturing expenses, which were

due to the higher gross profit and the lower administrative expenses. As a result, overall net profit of the Group is increased. Analysis of revenues Q1’ 2018 Q1’ 2017 Increase (decrease) Million Baht

Equity holders of the parent company was 706.19 million Baht, decreased by 29.25 million Baht or 3.98% compared to the first half of 2016. Income statement (MB) 1H/2016 1H/2017 Increased (Decreased

Q1/2018 due to the raising in raw water sales volume and net profit attributable to equity holders of the parent company of 341.71 million Baht, increased by 39.04 million Baht or 12.90%. Income