GFPT Public Company Limited Interim Management Discussion and Analysis for the 2nd Quarter 2018 Page 1 of 13 Management Discussion and Analysis This interim MD&A report has been prepared based on the

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Osotspa Public Company Limited Q3’18 and 9M18 Management Discussion & Analysis 14 November 2018 Q3’18 and 9M18 Management Discussion & Analysis Page 1/7 Financial Highlights Q3’18 profit attributable

media assets, which generated negative gross profit and are duplicated in the areas. This optimisation will enable MACO to gain greater efficiency on Domestic Advertising performance under management of

: (1) securities brokerage; (2) securities dealing; (3) securities underwriting; (4) mutual fund management; 2 Amended by the Notification of the Securities and Exchange Commission No. KorMor. 19/2560 Re

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gross profit margin improved to 61.4% and 57.0%, respectively, due to higher average selling price and better construction cost management. • Revenue from sale of investment properties increased by 45

), which focuses on risk-based asset allocation and leveraging. The Fund is a new fund with optimal risk management offered by KBank that aims to provide investors greater opportunity to gain higher returns

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income of THB 105mn for property management and administration services rendered, (iii) higher other (sundry) income of THB 71mn being primarily offset by (iv) lower gain on sale of assets and subsidiaries