. Comparison of operating results for the first quarter ended March 31, 2019 and 2018 Revenues from sales of real estate 694.10 984.17 -29.47 314.96 494.10 -36.26 Revenues from rental and services 14.33 30.59

establish this new subsidiary to be a holding company of other subsidiaries of the Company which owned properties in Europe. The details are as follows: Name: Vienna House Real Estate GmbH Registered Office

Revenue from sale of real estate for the 3-month period ended 31 March 2018 and 2019 were THB 440.40 and 346.20 million consecutively. Revenue from sale of properties decreased by THB 94.20 million or 21.39

from sale of real estate for the 6-month period ended 30 June 2018 and 2019 were THB 975.70 and 699.15 million consecutively. Revenue from sale of properties decreased by THB 276.55 million or 28.34% due

Justification_E_4-62 NO. AC. 01/2020 28 February 2020 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M. K. Real Estate

property fund for exemption of the value added tax, the specific business tax, and the stamp duty due to the conversion of a property fund into a real estate investment trust, as well as the benefits

in the provinces), 28 food courts, 7 office towers, 2 hotel properties, 1 residential property (totaling 11 units), and 2 real estate properties for sale (totaling 819 units), which includes the

was 72.5 percent for Q1/2018. (2) Real Estate Business Income For Q1/2018, the company had revenue, from real estate business, of 7.7 million baht, decreased 4.6 million baht or 37.3 percent compared

the waste treatment works, but in a way, make the treatment system more efficient. The income of the real estate business has slowed down, despite that, the number of lease of properties for sale

. The revenue of waste treatment has slightly changed while the revenue of real estate business has decreased. The company profits from sales of land held for future development. The company and its