million, decreased Baht 2,544.8 million from Baht 11,232.6 million at year-end 2016 mainly due to repayment long term loan borrowing from financial institutions of Baht 2,500 million. Total Liabilities

with significant long-term growth potentials. Overcoming challenges, Nirvana underwent a reverse acquisition in January 2017 and it is now incorporated and listed in mai under NVD. The Company’s landed

Liabilities were Baht 8,801.2 million, decreased Baht 2,431.4 million from Baht 11,232.6 million at year-end 2016 mainly due to repayment long term loan borrowing from financial institutions of Baht 2,500

2015, whereby Singha Estate invested in Nirvana, a mid-sized housing development company with significant long-term growth potentials. Overcoming challenges, Nirvana underwent a reverse acquisition in

there was an increase in short-term financing facilities overall financing costs have reduced as the long-term loan is repaid. Income tax was higher due to an increase in the topline and a decrease in the

MB or representing an increase of 59.1% because in Q3–2019, the Company had requested a loan under financial arrangement agreements to be suitable of the project with long billing periods. Income tax

refinancing expense of SOE long term loan amounting to Baht 140 Million in the first quarter of the year 2018. As a result of refinance, interest expense decreased by Baht 37 Million from the same quarter of

total liabilities as of 31 December 2018. The decrease was attributed to the decreased in loan from financial institutions of which THB 991.7mn was net long-term loans which was repaid when the Company

sluggish economy, leading to cancellations of some of our long-term contracts. To address this issue, we have been relentless in identifying new clients to replace those cancelled contracts. FINANCIAL

baht. From receiving short-term loans and long-term from financial institutions in the amount of 12.74 million baht, receiving advance payment of 8.82 million products. And payment to buy property and