Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 18 Executive Summary Revenue and profit continue to grow primarily from strong rental business performance

, buoyed by strong recoveries in tourism and exports. This growth momentum is expected to carry on into 2018, especially amid a brighter outlook in public and private investment. Nonetheless, the business

last year ending 31 December 2016 We have committed ourselves to strategies that emphasized on building up strong fundamentals in order to drive our businesses towards a sustainable growth organization

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 14 Executive Summary CPN’s revenues continues to grow primarily from strong shopping mall performance

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary CPN’s revenues continues to grow primarily from strong rental business performance

percent on the back of strong exports and tourism as well as the acceleration in public and private investment. Exports and tourism are expected to remain robust given the continuing recovery of major

-to-capital ratio of 11.50%, indicating strong financial status. 6 /8 ( ) Union Textile Industries Public Company Limited : 205 4 . 39.5 10280 . 0 2323 1085..96 : 0 2323 9283 Office & Factory: 205 Moo 4

and total portfolio and a strong growth of both domestic and overseas subsidiaries. In addition, the Company efficiently managed the selling, general and administrative expense and funding cost. 2

, the effect of the strong Thai Baht that limited the export performance of the Thai lime industry in general, and the proportionally high cost of combustible fuels Golden Lime Public Company Limited 3

pallet handling 3. 24 hour door-to-door services for customers in Asia Strong relationship with various airline and sea line Important financial information (Unit: Singapore Dollar) Balance Sheet 2018 2017