million at the end Q1/2020. Recently, inventories declined to Baht 1,773 million at the end of Q2/2020 which decreased by Baht 484 million from at the end of 2019 mainly due to the improved supply chain

10,274.3 million baht respectively, dropped by 43.9 percent and 24.0 percent from same period last year. The lower amount of expenses was mainly comprised of fuel cost that declined from less fuel

of property fund declined, meanwhile, property fund and REIT increased in size. Analysis of the Operating Results In the third quarter of 2020, the operating result showed net profits of Baht 31.8

estate investment trust declined, meanwhile mixed fund and fund of property fund increased in size. Analysis of the Operating Results The operating results of Land and Houses Fund Management Company

and renewable energy. In recent years, solar, wind and gas generation increased drastically, while coal-fired generation declined because of the reduction in its average availability and displacement by

financing to repay and reduce interest expenses and as a result, the debt-to- equity ratio declined from 0.17 times to 0.13 times (based on the Company's financial statements ending June 30, 2017). 6.3 The

debt-to- equity ratio declined from 0.17 times to 0.13 times (based on the Company's financial statements ending June 30, 2017). 6.3 The capital increase used in the flexible packaging business Phase 2

though the steam sales volume of Rayong Central Utility Plants (CUP) and IRPC-CP have declined as explained previously. Total revenue of Small Power Producer (SPP) of the company increased mainly due to

the previous quarter, the banking performance fared better, supported by increased dividend income due to seasonal factors. Nonetheless, net interest margin (NIM) declined in the second quarter of 2019

and foreign exchange transactions enjoyed steady growth. Meanwhile, our impairment loss on loans and debt securities grew at a decelerating rate in line with NPLs to total loans which declined slightly