ASEAN DEBT SECURITIES DISCLOSURE STANDARDS 1 แบบ 69-BASE-FD แบบแสดงรายการขอ้มลูและรา่งหนงัสอืชีช้วน ส าหรบัการออกและเสนอขายตราสารหนีใ้นลกัษณะโครงการ Registration Statement for Issuing and Offering of

as at 30 September 2019 was 2.49:1. There was not significant change compared to the debt to equity ratio as at 31 December 2018, which was 2.54: 1. 6 Liquidity Cash flows Unit: Million Baht Q3’ 2019

times. This was due to the fact that net loans decreased while shareholder equity increased. The significant decrease of total debt to total equity ratio of the Company was due to the ability of revenue

. Also, interest bearing debt to equity ratio was reduced positively at 4.5 times. This was due to the fact that net loans decreased while shareholder equity increased. The significant decrease of total

expenses from the adoption of Thai Financial Reporting Standards 16 Leases (TFRS 16). The Company has no interest-bearing debt. Significant Events Financial Performance Management Discussion & Analysis Q1

, as the result of the Company's operation in compliance to TFRS16. However, it provides no significant effects to Debt to Equity ratio and liability ratio. The Company had total shareholders' equity of

As at 30 June 2020, comparing with last year, the Group has significant financial ratios as following; o Debt to Equity ratio (D/E) as of 30 June 2020 was 2.10 times. A little bit increased compare

increased. The significant decrease of total debt to total equity ratio of the Company was due to the ability of revenue recognition from The Ritz-Carlton Residences, Bangkok (“RCR”) which is a part of

times. Also, interest bearing debt to equity ratio was reduced positively at 3.6 times. This was due to the fact that net loans decreased while shareholder equity increased. The significant decrease of

lower marketing campaign and activities amid the pandemic.  Admin & other expenses were Bt3,908mn, decreasing -12%YoY from significant decline in bad debt provision, but slightly increasing 1.5% QoQ. 4