advertising expenses were far less than those of totally new product launched. Selling expenses Consolidated financial statements For the three months period ended March 31 2017 2018 THB mm % THB mm

47.41 million and additional of current investment of Baht 310.00 million, whereas the Company had cash inflow from redemption of partial investment of Baht 302.58 million. For those reasons, the Company

target groups of customer. In 2017, the Company started developing premium single house projects. The residential property price in the market at the time had a tendency to rise, especially those located

investment of Baht 410.00 million. For those reasons, the Company had net cash flow from investing activities of Baht 10.56 million. 3. Cash flow (used in) financing activities The Company had a cash outflow

To purchase machines and equipment from Vanachai Veneer and Plywood Company Limited (related company), those machines and equipment are approximately 10 years of having been operated. - Be able to

depreciations expenses to be recognized partially in administrative expenses. Whereas in the same period of last year, those expenses were fully recognized in administrative expenses. The net result from an

was fully integrated into revenue from hotel business for the whole quarter. The third quarter is, in general, the peak season of Fiji and Mauritius where we have 3 hotels in those countries, although

completion of this transaction (it is estimated to complete within the second quarter of 2019), those three directors nominated by the Company will resigned. Shareholding Structure : Existing Shareholding

. Opinions of the Audit Committee and/or directors of the Company which are different from those of the Board of Directors under Clause 8 None.

Million Bath which related to revenue increasing from many ongoing projects of 2016. Including, new projects which award during 2018, all those projects made the Group recognized high revenue by percentage