Page 1 of 7 Management Discussion and Analysis 2018 Executive Summary The operating result of 2018, Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reached total revenue of
house and condominium units reached THB 1,698m, grew by THB 1,307m or 334% YoY. The increase generally stemmed from transfer ownership of condominium unit of the Esse Asoke and Banyan Tree Residences
has developed 23 residential projects for sales including single-detached houses, townhouses and condominiums, valued at THB 46,099m. In 2Q19, Revenue from sales of house and condominium units reached
utilized or have not reached the optimal level yet. Therefore, cost per unit was higher at this point, which might continue to impact the Company’s operating performance in the short term, or for the next 2
leveraging on scale and value-added services Fixed broadband revenue reached Bt7,437mn, a strong growth of 146% YoY and 2.1% QoQ. This growth is driven by high-quality subscriber expansion, a robust nationwide
reached the invoice. As the result, cash and cash equivalents decreased. Unbilled Receivables increased by 322.9 MB or 74.4%, due to the large project that had been implemented and recognized the revenue by
quality of debt acquired and efficient of collection team, the Company’s financial performance in 2017 reached to its highest in corporate history with net profit of 396.1 million Baht, increased at 36.4
recognized the revenue by completed segment but not yet completed which those reached the invoice. As a consequence, trade receivables decreased, resulting in an increase unbilled receivables. Unbilled
Baht 174 million or 45.5% from Q3/2018-2019 thanks to stricter expense control scheme. The Company focused more on Brand investment and Online channel activities that reached consumer directly during the