efficient investment to serve both in short term the rising 4G demand and medium term the adoption of 5G . The investment hence focuses on key cities area where demand for 4G is rising plus additional 5G city

Installation of Cloud Project to support the service of the central government cloud of CAT Telecom Plc., The High-Speed Internet Service Project in Remote Area, The D-Ticket Project of State Railway of Thailand

. Commercial Property: Operation Statistics Operation statistics 1Q17 4Q17 1Q18 Suntowers 1 Net leasable area (sq.m) Occupancy rate Effective rent (YoY growth) 59,047 96% 3% 59,010 96% 6% 58,765 96% 2% Note: 1

5.5% 111.3 4.8% -21.2 -16.0% Total Assets 2,409.5 100.0% 2,310.3 100.0% -99.2 -4.1% Liabilities and Stockholders' Equity Bank Overdrafts and Short-Term Loans 60.0 2.5% 96.5 4.2% 36.5 60.8% Trade and

leased land area 13.17 Rai at Thilawa Special Economic Zone near Yangon, Myanmar, lease period 49.2 years, contract value 54.2 million Baht for factory building since 2015 . With Myanmar’s population size

%. The decrease was mainly as a result of the recalculation of the rent-free period that is amortised over the rental term of the tenants. A rent-free period is commonly given to office building tenants in

Thonglor, which will be launched in 3Q19. Another luxury residential project in Ratchathewi area will also be launched within this year. For recurring income project development which the first major project

monetization to HREIT and WHART last year, thereby reducing the leasable area. Gross profit from rental and service of warehouses, distribution centers and factories in the third quarter of 2017 was THB 174.8 mm

a 4-storey office building with total area of 4,446.72 sqm from Noble Development Public Company Limited (Noble) at total investment of THB 800,000,000. MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 14

35.52 244.13 Total assets 36.08 264.09 Liabilities and shareholders' equity Current liabilities  Trade and other payables 6.57 229.85  Short-term loans 2.88 5.69 Total current liabilities 9.45 235.55