respectively as we continue to expand our customer base for recurring revenue. For HR Solutions, we experienced a drop in non-recurring revenue as a result of booking a one-time license fee of around 12.00mb in

shareholders’ equity was thanks to the booking of operating profit. Yours sincerely (Mr. Teerawat Srinakarin) Chief Executive Officer

increase resulted from the booking of depreciation cost linked to The Studio Park project. All in all, the gross profit amounted to 104.76 million baht, translating to a gross profit margin of 23.36%. SG&A

December 2017, the shareholders’ equity was valued at Baht 514.67 million and Baht 1,289.19 million, respectively. The increase in shareholders’ equity was thanks to the booking of operating profit and the

’ equity was valued at Baht 1,277.90 million and Baht 1,308.57 million, respectively. The increase in shareholders’ equity was thanks to the booking of operating profit. Yours sincerely (Mr. Teerawat

30, 2018, the shareholders’ equity was valued at Baht 1,289.19 million and Baht 1,295.47 million, respectively. The increase in shareholders’ equity was thanks to the booking of operating profit. Yours

Holdings Pte. Ltd. (“LVM Holdings”) ซ่ึงประกอบดว้ยบริษทัทั้งหมด 9 บริษทัท่ีจดัตั้งในประเทศต่าง ๆ ในภูมิภาคเอเชียตะวนัออกเฉียงใต ้ และประกอบธุรกิจท าการตลาด (market) ด าเนินการจอง (booking) และบริหารจดัการ

valued at Baht 1,317.48 million and Baht 1,347.31 million, respectively. The increase in shareholders’ equity was thanks to the booking of operating profit. Yours sincerely (Mr. Teerawat Srinakarin) Chief

agreements and booking 3 Calculated from interest-bearing debt net of cash and cash equivalents 4 Including rental and service income, marketing commission income, project management fee, interest, and others

platforms: LINE OA, Lazada and Shopee to provide convenience for customers at all stages related to real estate transactions. For example, researching, booking, checking the room and transferring ownership