ratio is 0.85 times and lowers than the same period last year. JAS Asset Management Discussion and Analysis, Q3/2019 Page 4/4 Forward Looking Currently, The Company is delivering the condominium units the

decrease in unit transferring. There was no project completed construction in Q3/2017 while there were M Thonglor10 started transferring in Q3/2016 and Manor Sanambinnam continued transferring since Q2/2016

50.7 MB is from buying and transferring assets THB 56.4 MB and depreciation on useful life of asset in which increase for THB 5.7 MB. Liabilities The Company’s total liabilities as of 31 December 2018

buying and transferring assets THB 38.0 MB and depreciation on useful life of asset in which increase for THB 3.2 MB. Liabilities The Company’s total liabilities as of 31 December 2018 and 31 March 2019

decrease in unit transferring. There was no project completed construction in Q2/2017 while there was Manor Sanambinnam started transferring in Q2/2016. - Revenues from hotel operations in Q2/2017 amounted

from buying and transferring assets THB 129.1 MB and depreciation on useful life of asset in which increase for THB 15.7 MB. Liabilities The Company’s total liabilities as of 31 December 2019 and 2018

expenses. Profit from Operation The Company's profit before interest and tax in 2019 was equal to 45.1 million Baht, an increase of 91.1 by 2018 due to the increase in revenue from transferring condominiums

-to-equity ratio of 2.97 times and the interest-bearing debt to equity ratio of 2.61 times. Forward Looking The Company's operation has been continuing to set goals for the sustainability of the

-current assets are land and equipment which were 49.3% and 44.3% of the total assets in which the increase by land and equipment net THB 0.8 MB is from buying and transferring assets THB 5.9 MB and

custodians for private funds and provident funds, and (2) criteria for transferring private and/or provident funds to mutual funds under management of the same asset management company.The consultation paper