(0) 2661-6664 2 INDORAMA VENTURES PUBLIC CO., LTD (SET: “IVL”) MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) FOR THE YEAR ENDED DECEMBER 31, 2017 (CONSOLIDATED) Table 1: Financial Summary - Core Financials

) 1,890 Unit: MTHB Per F/S Adj. non- recurring Excl. non- recurring Core performance (excl. non- recurring and TFRS16) Impact of TFRS16 Central Pattana Public Company Limited Management’s Discussion and

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 15 Executive Summary The Company implemented proactive measures to timely manage the situation rapidly

administrative expense to support business expansion. Without the non-recurring profit related to sale of Dusit Princess Korat, core EBITDA was THB 806 million, a 12.3% decrease from 2016. The Company reported net

าไร การปรับปรุงทางโครงสร้าง การเพ่ิมสัดส่วนผลติภณัฑ์ และการเข้าถึง ในทุกภูมิภาค ในปี 2561 :  รายได ้เท่ากับ 10.7 พันล้านเหรียญสหรัฐ เพ่ิมข้ึนร้อยละ 27 เมื่อเทียบปีต่อปี  Core EBITDA เท่ากับ 1.4 พัน

characteristics to other existing debt securities, except for their core objective of financing projects that contribute to environmental conservation and/or social development. These products therefore are not

%GP at 22%, while 9M17 represented at 24%. Excluding TBSP of 17% GP, Company’s core %GP achieved at 25%, increased by 1%, primarily due to incremental of Gross Profit of Security business in 9M18 when

growth and returns while maintaining our market leadership over the long term. Guided by our core strategies of “Customer Centricity” and making KBank the Customers’ Main Bank for all eight customer

, they may be presented in business lines); - In case of a holding company, the sizes of the company operating the core business and the others shall be specified in comparison major under relevant

be inconsistent with the intention of the regulations whereby a misdemeanor, an insignificant act or any wrongdoing not directly involved with the issuer’s core business shall be excluded. Given the