Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 1 Translation UWC 023/2562 August 16, 2019 Subject : Management Discussion and Analysis for quarter 2-2019

Section 105 Securities and Exchange Act B.E. 2535 Section 105. A securities company shall prepare its accounts stating true and accurate business operation and financial condition, which must conform

, there was a consulting fees for the audit of the business condition and legal aspects of the subsidiary investment in the amount of Baht 1.15 million. 6.3 In the quarter 2/2018, there was a reversal

consulting fees for the audit of the business condition and legal aspects of the subsidiary investment in the amount of Baht 1.10 million. 7.3 Other expenses increased by Baht 1.58 million from normal business

in the central business area. The strategy of the Company has thus been adjusted to be in line with the market condition and business. The Company has turned to the rental market as a measure of risk

-Sep) Total Revenue 109 305 Type and size of transaction : This transaction is considered normal support business without any trade condition. The calculate size of this transaction is 0.031% which is

area 21 Rai 1 Ngan 37.6 square wa the price of 138,736,000 Baht. 5) Objective of Transaction To preparing Working Capital for increase liquidity of business. 6) Payment Condition Totally pay in cash. 7

Thailand regarding Disclosure of Information and Procedures of Listed Companies on Connected Transaction B.E. 2546 (2003). This transaction is considered normal support business without any trade condition

services 379,100 Revenues from rooms and services from Santiburi Beach Resort and Spa and rental income from Suntowers. Rates and terms are in line with normal business practice following the condition of

Consulting fees for the audit of the business condition and legal aspects of the subsidiary investment in the amount of Baht 2.25 million. 9.3 In the year 2018, there was a reversal doubtful debt by Baht 7.69