2019 Changes Million baht Million baht Million baht % Total Assets 457.86 420.02 (37.84) (8.26) Cash and cash equivalents 92.96 74.63 (18.33) (19.72) Trade and other account receivables 68.62 37.93

Nirvana Daii Public Company Limited (“NVD”), a 52%-owned subsidiary of Singha Estate, invested in January 2017. 1Q18 consolidated net profit grew 651% YoY, as the performance incorporated (non-cash) gains

adequate cash and liquidity to pay for shares in this investment However, when at the time the payment is due, if it appears that the company does not have enough cash flow, the Company has contacted the

20 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environment Management Accounting Management Discussion and Analysis of Business Operation for Q2/2019

transactions, and thus slash our cash management costs, leading to reduced costs for our customers and within the overall economic system in the long run. Within this context, KBank and K Companies accentuate

creditors for land and construction costs increase 857.10 million THB or 124.15%. The amount of down payment that is to be recognized increases 456.16 million THB or 197.10%. As a result of the above reasons

increases 1,814.03 million THB or 42.10% i.e. from 4,308.76 million THB to 6,122.79 million THB. 2. The amount of down payment of projects which the income would be recognized in the next year increased

proportion of 3.89996876 new ordinary shares/1 held share and also 100 million shares by private placement for the purpose of repayment of the short-term loan and account payable payment of Baht 60 million

utilize deferred tax assets amounting to Baht 51 million that was recognized as tax expense in Income Statement, but no impact to Cash Flow due to its non-cash item. Net Profit Net profit excluded non

2018 +/(-) +/(-)% Assets Cash, Cash equivalents and short-term investments 925.49 159.84 (765.65) -82.73% Trade and other accounts receivable 739.98 929.10 189.12 25.56% Other current assets 72.21 70.50