CBP. The assets to be invested by the Trust consist of total area of 87-2-48.36 rai (approximately 140,193.42 square meters) and total leasable area of warehouse and factory of approximately 89,024.00

for the Company to (1 ) enter into the lease of warehouse agreement with JKN Landmark Co., Ltd., (2) renew the car service agreement for the Company’s management with JKN Landmark Co., Ltd., and (3

outsourced warehouse and logistics. The gross profit grew from THB 602.8 Mn in 2017 to THB 703.6 Mn in 2018, an increase of THB 100.8 Mn or 16.7%. The gross profit margin decreased slightly from 24.3% in 2017

mainly due to (1) the increase of raw material cost from both the restaurants which the company owns itself as well as franchise restaurants and (2) increased service fee of outsourced warehouse and

investment in last year. The Company maintained healthy financial position and sturdy debt service capacity with interest-bearing debt-to-equity ratio of 0.56 times. 2019 Outlook Company maintains 2019 outlook

backlog was THB 16,745mn, decreasing by 6.9% as compared to the end of 2018 of THB 17,981mn. Although the JVs had sturdy sales in The Line Wongsawang, The Line Ratchathewi and The Line Phahonyothin Park

healthy financial position and sturdy debt service capacity with interest-bearing debt-to-equity ratio of 0.10 times. 2018 Outlook Maintain 2018 forecast, yet adjust down new hotels opening • Despite Boat

mainly due to (1) the increase of raw material cost from both the restaurants which the company owns itself as well as franchise restaurants and (2) increased service cost of outsourced warehouse and

and (2) increased service cost of outsourced warehouse and logistics. Selling Expenses For the 9 months ending 30 September 2017 and 2018, selling expenses increased from THB 68.0 Mn to THB 81.4 Mn

74.52% due to an increase in rent and service income from warehouse/factory space. This was a result from diversifying the Company’s business risk by expanding into recurring income business. The