current Labor Protection Act (LPA), with effective in Q2/2019. The key amendment to the LPA was that the law included a new and higher severance entitlement of 400 days’ wages for employees with over 20

expense from the Lofts Asoke project was recognized as financial cost after the construction completed in December 2018. Moreover, in comparison with 3Q18, in 3Q19, the Company was carrying higher loan

(up 272.7% YoY) largely as a result of the increase in total revenue and the EBITDA margin rose to 31.5% (2018; 13.0%) • Reported net profit of THB 1,867mn (up 394.9% YoY), from aforementioned higher

were active during 2019 was higher than that during 2018. Management Discussion & Analysis ( - translation - ) For operating result of 4Q/2019, ended 31 December 2019 Raimon Land Plc. | 27 February 2020

aforementioned. Compared to 4Q2019, the market P2F in 1Q2020 dropped by 7% because the growing of an average fatty alcohols price was only by 4% to stood at 1,289 USD/ ton, compared to the higher percentage of

due to an increase in Availability Payment (AP) resulting from higher electricity sales unit price according to the PPA, comparing to the same period of the previous year. Paju ES: Unit : Million Baht

. Profit (loss) for the period For the six months ended of year 2020, the Company had a profit (loss) of THB (575.7) million, incurred a higher loss from THB (201.9) million for the six months ended of year

% vehicle registration loan) Causing Singer to earn higher interest income and there was a decrease in NPL due to adjusting the proportion of credit portfolio to have more quality. NPLs in the group of auto

May and June 2020 were higher than the electricity sales in November and December 2019. 3.1.2 Investments in associates and joint ventures increased in the amount of THB 2,729.02 million. The main

higher gross profit margin resulted from temporary suspension of SHR’s hotels since April, leaving only high gross profit margin business like residential business and commercial business to be included in