acquisition date, non-recurring expenses and share of investment in JV and associates. PERFORMANCE ANALYSIS (2017/18 vs 2016/17) 2017/18 was another year of solid progress for VGI. The Company achieved the

Page 2 Management Discussion and Analysis 1. Significant events in the second Quarter of 2018  The progress in construction projects - Xayaburi Project, a project of the Xayaburi Power Company Limited

of the total assets, of which 24.08 percent are finished products, 18.31 percent are work in progress and 31.98 percent are raw materials. The Corporate Group conducts inventory inspection every month

of the international school by 1Q 2020. The Company expects to make further progress in its asset divestment during 2H 2018. The remaining assets to be divested totaling THB 2.3bn are 2 plots of land

and equipment increased by Baht 91.09 million due to the purchase of 21 branches, in accordance with the purchase asset agreement of Baht 66.17 million and construction in progress amounted to Baht

conference, public relation activity on construction progress, crisis management and risk management, and press trip) 3 d) Advertising ( media plan and budget, creative design, copywriter and content, and

and work on progress of construction: As at 30th September and 31st March 2018, the Company and its subsidiaries had Land, plant and equipments – net of Baht 514.04 million (or 21.97 percent of total

conditions precedents specified in related agreements are satisfied. One Sukhumvit 59 expect to enter into this transaction within November 2018. The Company will updated and disclose the progress of this

22.41 percent of the total assets, of which 27.66 percent are finished products, 21.77 percent are work in progress and 31.52 percent are raw materials. The Corporate Group conducts inventory inspection

Page 2 Management Discussion and Analysis 1. Significant events in the third Quarter of 2018  The progress in construction projects - Xayaburi Project, a project of the Xayaburi Power Company Limited