subsidiaries had higher number of complete condominium projects compared to the same period in the first quarter of 2017 which make the interest expense could not be capitalized as part of project cost. 4

cost of operations 4,261 4,519 4,558 7% 1% 12,203 13,108 7% Excluding non-recurring items 4,161 4,419 4,458 7% 1% 12,103 12,808 6% Selling, general and admin expense 1,598 1,815 1,637 2% (10%) 4,239

million, dropped by THB 89. 36 million or 11. 24% down from 3Q2017 primarily from higher cost of sales mainly from the average price of corn increased from THB 8. 29 per kilogram in 3Q2017 to THB 8.96 per

respectively. due to the severe competition in the market, as a result decrease in sales price per unit and Thai baht strengthen against US Dollar (which is major currency in sale price) and effect from the cost

not have other alternative source of funds that provides higher credit facility with lower cost as the said terms and conditions are even better than existing credit facility granted by AM. IFA views

fixed interest rate from 2. 05 to 3. 01 percent per annum to reduce finance cost and risk management from floating interest rate. As a result, the Company has saved interest expense approximately by Baht

2.01 7.49 7.53 (0.25) (3.34) Profit before financing costs and income tax expense 62.74 17.66 69.91 19.37 7.14 7.18 62.79 879.41 Financing cost 8.28 2.33 11.82 3.27 4.40 4.42 7.42 168.64 Profit before

efficiency work process for the Group to get a qualification of listed company in the Stock Exchange in Thailand. Financial cost Financial cost was interest expense for long-term long from a commercial bank on

efficiency work process for the Group to get a qualification of listed company in the Stock Exchange in Thailand. Financial cost Financial cost was interest expense for long-term long from a commercial bank on

) Gross profit margin (%) 32.30 32.67 (0.36) (1.11) Total revenue 4,602,686 4,713,138 (110,452) (2.34) Total Cost & Expense 4,401,175 4,385,762 15,413 0.35 Selling & Admin. Expense 1,010,766 947,221 63,546