Page 1 of 8 Singha Estate Public Company Limited Management Discussion and Analysis 3Q2019 Executive Summary Singha Estate Public Company Limited (“the Company”) reported 9M19 total revenue of THB

Limited” to “WIIK PT Company Limited” with the Ministry of Commerce. Analysis of the operating results of WIIK and Subsidiaries for the year ended December 31, 2019 as follows; Summarized of the Statement

any director, executive, or major shareholder of the Company or the Subsidiary. 4 Property development project of Leyland Leyland operates property development business namely “Vacharaphol” Project

capital market. “ license under regulatory sandbox ” means a license for establishing a securities trading center under regulatory sandbox . “ executive ” means a manager, deputy manager, assistant manager

market. “license under regulatory sandbox” means a license for establishing a securities trading center under regulatory sandbox. “executive” means a manager, deputy manager, assistant manager

management company as shown in the latest financial statement that has been audited by an auditor approved by the Office shall be no less than the amount that is prescribed in the Notification of the

’ equity of the management company as shown in the latest financial statement that has been audited by an auditor approved by the Office shall be no less than the amount that is prescribed in the

Chye Tek Lionel as the Chief Executive Officer (CEO) to replace Mr. Lee Chye Cheng Adrian who was appointed as the Chief Operating Officer (COO), effective from 1 November 2018 onwards 3) Launched 2

: THB 2,415 million). 3 Whereas the separate financial statement presented the loss on impairment of THB 701 million consisting of impairment of investment in subsidiary is THB 437 million and loss on

were executed on July 20, 2018 for the abovementioned ETB. Consequently, as a result of the abovementioned ETB, the company’ s consolidated financial statement as ended September 30, 2018 then recorded