of 2018. Total water sales volume was 142.03 million Cu.M. (excluding internal usage for tap water production of 15.20 million Cu.M.), increased by 33.38 million Cu.M., or 30.73% due to the raising of

(CHINA) CO., LTD. 4 4 SME Business Center 2) 147 146 Branches 3 3 International Trade Service Center 58 58 Representative Offices 7 8 Cheque Direct Service 20 20 Note: 1) Excluding 8 branches, classified

paid up share capital according to shareholder list dated on 20 February 2018 and a brother of Miss Nita Treeweeranuwat. 10. Board of Director's Opinion on the Transaction Board of Director, excluding

expenses. 2As shown in financial statement, excluding minority interest. 3Net profit excludes minority interest, is adjusted for amortisation of PPA in MACO, gain of fair value measurement in MACO at

the amount of THB 8,881,000 (Eight Million Eight Hundred and Eighty One Thousand Baht Only) excluding VAT. The payments are divided into 5 installments as follows; Payment terms Remark No. 1 20 percent

such transaction with a vote of not less than three-quarters of the votes of all shareholders attending the meeting and having the right to vote, excluding interested shareholders’ equity; (2) Appoint an

% 25.5% 24.3% Adjusted net profit margin 22.5% 27.1% 28.2% 1Adjusted for share of investment in JV and associates and non-recurring expenses. 2As shown in financial statement, excluding minority interest

% EBITDA margin 45.4% 47.1% 41.5% Net profit margin 20.6% 24.3% 21.5% 1As shown in financial statement, excluding minority interest. PERFORMANCE ANALYSIS (2Q 2018/19 vs 2Q 2017/18) VGI continued to

impairment of assets  Reported net loss of THB 388mn, mainly from loss on impairment of assets totaling THB 355mn. Excluding this and other one-off items totaling THB 43mn, Recurring net profit stood at THB

increase in net interest income which was derived mainly from expansion in retail and SME business loans, in line with growth in net interest margin (NIM). Excluding gain on investments of certain banks in