than 2.5 times as stated in loan and debenture agreement. * The operational results were calculated based on the consolidated financial statements which consist of the Expressway Business, Rail Business

structure management. It has to be flexible in times of economic turmoil and financial costs must be maintained at appropriate level. In addition, the financial policy must be implemented with caution and the

sukuk program, the asset trustee may offer for sale under such program for unlimited times and issues, providing that the following conditions are abided by: -11- (1) a short-term sukuk to be offered for

at all times I/we have officers with the relevant qualifications specified in section 6 of the Passport Rules (Annex 3) of the MOC, and meet the financial resources test and the organisational

from EBT of UE. Net interest-bearing debt to equity ratio stood at 0.55 times, an improvement from 0.93 times at the end of last year, chiefly due an increase in shareholder equity from the capital

liquidity ratio was 1.35 times. The Company maintained healthy financial position and sturdy debt service capacity with interest-bearing debt-to-equity ratio of 0.09 times. 2019 Outlook 2018 was the final

Ratio at 39 times while it was 20 times in the second quarter of 2017, at the same time, the company will continue studying for and finding a suitable solution to improve the company’s debt structure in

ratio stood at 0.07 times, a decrease from 0.28 times at the end of last year, on lower debt balance and increase in retained earnings. Dividend CPN has a dividend policy of no less than 40% of annual net

7,218.18 100.00 7,068.16 100.00 6,687.21 100.00 Financial ratio Consolidated financial statements unit 2018 2017 2016 1. Current Ratio times 3.29 3.45 3.20 2. Debt to Equity Ratio times 0.24 0.23 0.23 3

proceed with the tender to sell such assets for 2 times during March and April 2018, but no one was interested in sending a tender for such assets, which results in the Company’s need to have the resolution