230 mn Project Risk HSMC is exposed to the foreign exchange rate movement due to the revenue is denominated in USD Expected Benefit Company expects that projects shall create the IRR of at least 10% 4.2

manage production of the Company, the Company can generate cash margin by Baht 1,223 per ton for the 3rd quarter in 2017. Management’s Discussion and Analysis (MD&A) For Q3/2017 2 In this quarter, the

that is intended to generate a profit, either from capital gain or rental income. There are sub-categories of Commercial Buildings, including offices, shopping centres and hotels. Residential building: A

Exchange Commission No. SorNor. 21/2551 Re: Acts that may Create Conflicts of Interest on Fund Management and Protective Rules (No. 2) -------------------------------- By virtue of the Section 126(1) of the

Exchange Commission No. SorNor. 21/2551 Re: Acts that may Create Conflicts of Interest on Fund Management and Protective Rules (No. 2) -------------------------------- By virtue of the Section 126(1) of the

of the Office of the Securities and Exchange Commission No. SorNor. 21/2551 Re: Acts that may Create Conflicts of Interest on Fund Management and Protective Rules (No. 2

coming on-stream in 2018, as discussed in forthcoming sections, are providing im- petus to our business and our ability to generate positive operating cash flows. The Company reduced its leverage ratio

coming on-stream in 2018, as discussed in forthcoming sections, are providing im- petus to our business and our ability to generate positive operating cash flows. The Company reduced its leverage ratio

activity, not an entity or a project. In order to assess the eligibility of the activity under the Thailand Taxonomy, one must first dissect an entity or a project into separate activities that generate

masterpiece from their inspiration and imagination. This will generate benefits to related business sectors, increase national revenue, and drive changes in Thai economic fundamentals into a value creation and