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

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

to the increased in sales volume despite the declined in natural gas prices. • Very Small Power Producer (VSPP) and other: The gross profit decreased by Baht 24 million mainly due to the seasonal

.. UNOFFICIAL TRANSLATION Codified up to No. 5 As of 23 March 2015 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. Notification of the Office of the Securities and Exchange Commission Concerning Granting of Approval of Financial Advisors and Their Scope of Work ______________________ Whereas the notifications issued by the Capital Market Supervisory Board relating to the issuance and offering for sale of securi...

million reduce the burden of 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