is in the process of construction and decorations to support future demands. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 4 of 15 Financial and Operating

could be attributed to a decrease of Baht 221 million, or 2.08 percent in impairment loss on loans and debt securities and an increase of Baht 835 million, or 2.13 percent in net operating income which

analysis should be read in conjunction with our financial statements and accompanying notes, as well as our selected operating data, included elsewhere in this Offering Circular. Our financial statements

Cost 15,165.10 20,013.12 Increase (Decrease) % Quarter 1-2 The operating result according to the consolidated financial statements of the Company and its subsidiaries for the first six-month period of

Earnings per share (Baht) 1.28 0.58 Fuel Cost 8,339.72 8,622.55 Increase (Decrease) % Quarter 3 The operating result according to the consolidated financial statements of the Company and its subsidiaries for

- - - Total bank overdrafts and short-term loans from financial institutions 53,561,285.30 - 13,418,154.75 - Unit: Baht Separate financial statementsConsolidated financial statements 4.2.2 Long-term loans from

statements 1,055 2,955 1,900 3 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 2. Thai Financial Reporting Standard No. 16 - Leases (TFRS 16

) was thus equal to 3.32 percent, decreasing over-quarter, but still within the set target of 3.30-3.50 percent. Moreover, other operating expenses rose Baht 21 million or 0.13 percent over-year, due

operating standard specified by the association under Paragraph 2. Clause 5 A mutual fund management company shall prepare the financial statements of each mutual fund in compliance with the Accounting

from the operating standard specified by the association under Paragraph 2. Clause 5 A mutual fund management company shall prepare the financial statements of each mutual fund in compliance with the