trend we saw since 2018 although the competitive pressure continues to increase. Depreciation was in line with the same period last year and given that no major investments are planned this will be

Flow 9-Months Period Ending 30 September 2018 2019 THB Mn THB Mn Net Cash from Operating Activities 193.6 219.3 Net Cash from Investments (47.3) (208.6) Net Cash from Financing Activities (118.6) 215.7

pandemic of COVID-19, which has a severe impact on tourism, production, exports and private consumption. Private investments tend to decline in 2020, according to both domestic and international demand. For

credit losses from long outstanding receivables and losses from fair value adjustments of investments in Campana Group Pte. Ltd. Operating Results and Capabilities to Make Profit Performance from revenues

company reported an increase in hotel business from revenue from luxury villa management as invested in 3Q18 and other income comprising of gain on sales of investments, an increase in share of profits from

its balance sheet and cash flow from operations to remain strong, and sufficient to meet its planned investments in future growth opportunities. Table 4: Major Projects Update & Recycling Growth Plan 1

(180,426) (39.5) Gain on financial liabilities designated at fair value through profit or loss, net 285,937 62,709 223,228 356.0 Gain on investments, net 568,068 389,893 178,175 45.7 Dividend income and

improve for the construction segment while solid expansions still continue for investments in machinery and equipment segment especially for export related industries. Public spending also continued to

the construction segment while solid expansions still continue for investments in machinery and equipment segment especially for export related industries. Public spending also continued to increase

all investments in NML, having the highest transaction value of 1.82 percent based on the value of consideration basis, calculated from the Company’s reviewed consolidated financial statements for 9