the risk-based argument, it is theoretically built on valuation perspective suggesting that, ceteris paribus, an increase in an earnings stream or a decrease in discount rate result in higher price. In

December 2021 were Baht 13,694.6 million and Baht 13,368.5 million. Increased by Baht 326.1 million or 2.4% from increase in net profit resulting to increase in unappropriated retained earnings. Please be

payables paid by the Company and accrued dividend. Total equity was THB 1,229mn growing by THB 71mn or 6.1%. This was attributed to an increase in unappropriated retained earnings from 1Q and 2Q 2017

Baht 360.3 million or 3.0% from increase in net profit resulting to increase in unappropriated retained earnings. Please be informed accordingly, Yours sincerely, (Mr.Tanavijit Ankapipatchai) Director

was attributed to an increase in unappropriated retained earnings and non-controlling interests of the subsidiaries. Total equity included with equity attributable to owners of the Company of THB

Liabilities - Restated 34,784.91 37,811.27 Equity Total Equity - Previously Reported 63,281.18 62,452.77 Retained Earnings Increase / (Decrease) (3,109.45) (3,041.29) Other Components of Equity Increase

Increase / (Decrease) 2.82 0.70 Total Liabilities - Restated 34,784.91 37,811.27 Equity Total Equity - Previously Reported 63,281.18 62,452.77 Retained Earnings Increase / (Decrease) (3,109.45) (3,041.29

, which decreased by THB 631.1 mm from THB 28,533.4 mm as of 31 December 2017, mainly from increase in retained earnings as Company’s performance during this period. However there was the cash dividend

the Company had cash dividend payment. However, there was the increase in retained earnings during this period as well. Cash flow analysis 1H 2017 1H 2018 THB mm THB mm Net cash generated (used in) from

of THB 28,386.3 mm, which decreased by THB 147.1 mm from THB 28,533.4 mm as of 31 December 2017, because the Company had cash dividend payment. However, there was the increase in retained earnings