the third quarter of 2019 was 3.1%, increased from 2.5% comparing with the same period of last year. The main reasons for the increase in profit from continuing operations were mainly due to an

market funds, and equity funds), certain specific features, and special characteristics of funds (such as feeder funds and fund of funds). 3. Investment policy and strategy Information should be presented

regarding fund labeling (such as fixed income funds, money market funds, and equity funds), certain specific features, and special characteristics of funds (such as feeder funds and fund of funds). 3

, and equity funds), certain specific features, and special characteristics of funds (such as feeder funds, guarantee funds, retirement mutual funds and fund of funds). • Peer groups of mutual funds shall

Expenses 375.4 312.2 63.2 20.2 - 2 - Considering each type of income, the revenues from sales and services of the year 2019 increased from 2018, the main reason is that the receiving of large-scale project

Estate Public Company Limited Management Discussion and Analysis 1Q2020 Nevertheless, the Company adopts equity method of accounting for Jupiter hotels totaling of 29 hotels with 3,115 keys; consequently

events affect agricultural production and farm prices – the main source of income for the majority of Thai people – and thus have repercussions for businesses dependent mainly on domestic consumption

Transaction in such shareholding percentage is considered and based on the investment offer of Hero Experience under which the equity required for the development of the Project equals the value of the shares

% Core EBITDA/ton ($) 102 113 140 (27%) 128 120 7% Operating Cash Flow5 261 250 241 8% 1,010 872 16% Net Debt to Equity (times) 0.92 0.87 0.61 51% 0.92 0.61 51% 1Consolidated financials are based upon

)% 4.12 3.26 26% Core EBITDA/ton ($) 102 113 140 (27%) 128 120 7% Operating Cash Flow5 261 250 241 8% 1,010 872 16% Net Debt to Equity (times) 0.92 0.87 0.61 51% 0.92 0.61 51% 1Consolidated financials are