accelerated the transfer of housing units to customers before the Bank of Thailand housing loan control measure (Loan-to-Value: LTV) became effective on April 1, 2019. Even though, the majority of MK customers

million or 27.8% when comparing to the same period of last year which was THB 632.82 million. This was mainly come from the transfer of housing units from the housing projects that the Company launched

measure by way of reducing both transfer fee and mortgage fee for the house that selling price was less than THB 3.00 million. MK housing projects are in this price range. - Revenue from rent and service

million increased of Baht 18.18 million, or 50.82 percent. Due to the transfer of the club of the old project to the housing estate juristic person Financial Costs The Company and its subsidiaries

%. Another significant impact toward real estate business was the Bank of Thailand housing loan control measure (Loan-to-Value: LTV). The measure had direct effect on the consumers’ purchasing power. However

-Translation- 1 -Translation- Ref. NCH 035/2020 August 10, 2020 Subject : Management’s Discussion and Analysis 2Q/2020 Attention : President The Stock Exchange of Thailand N.C. Housing Plc. (“the

-Translation- 1 -Translation- Ref. NCH 006/2019 February 27, 2019 Subject: Management’s Discussion and Analysis for the year 2018 Attention: President The Stock Exchange of Thailand N.C. Housing Plc

these housing units were well fit with customers’ demand. As a result, sale and transfer units were higher than MK’s projection. In addition, the Company was able to complete sell of all units in some of

real estate development and service business. The Company has developed premium housing projects in central business area to open up new business opportunities. Moreover, the opportunity in rental real

-Translation- 1 -Translation- Ref. NCH 024/2020 May 11, 2020 Subject : Management’s Discussion and Analysis 1Q/2020 Attention : Director and Manager The Stock Exchange of Thailand N.C. Housing Plc