the business risk and increase revenue from recurring business in the long- term. Real estate business of low-rise housing projects and condominium project remained the Company’ s main business. During

subsidiaries as follows: - Decrease in sale of real estate business by THB 13.66 million or 2.22% when comparing to the same period of last year. However, revenue realized from sale of low-rise housing units

subsidiaries as follows: - Sale of real estate business was THB 929.57 million, decreased by THB 306.23 million or 24.78% when comparing to the same period of last year. Sale of low-rise residential units was

to identify capable candidate to join the Company. 2) Financial costs The Company had set strategy to grow from sale of real estate, especially low- rise housing projects. In the meantime, the Company

this quarter, the gross margin from sale of low-rise residential units was 33%. The figure was in line with the margin reported last year. In addition, sale from real estate business of Munkong Living Co

Justification_E_2-61 NO. AC. 003/2018 14 August 2018 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M. K. Real Estate

align with business restructuring of MK Group. The objectives were to reduce the business risk and increase revenue from recurring business in the long-term. Real estate business of low- rise housing

the 3-month period ended 31 March 2018 31 March 2019 Change Millions of THB % Millions of THB % Millions of THB % Revenue from sale of real estate 440.40 97.86% 346.20 87.55% (94.20) (21.39%) Revenue

the 6-month period ended 30 June 2018 30 June 2019 Change Millions of THB % Millions of THB % Millions of THB % Revenue from sale of real estate 975.70 97.59% 699.15 90.53% (276.55) -28.34% Revenue from

(NLA) of 1.6 mn sqm. 2Q17 Major Events The conversion of CPN Retail Growth Leasehold Property Fund (“CPNRF”) into a new Real Estate Investment Trust (REIT) on 31 May 2017, the Board of Directors has