issued in July 2017. Compared to the preceding quarter, 3Q17 revenues grew by 4% with an improvement in net earnings of 12%, mainly attributed to higher contribution from NVD, lower SG&A expenses and

and Analysis EXECUTIVE SUMMARY ABBREVIATION & OUR PROJECTSFINANCIAL PERFORMANCE FINANCIAL POSITION PROGRESS OF PROJECTS UNDER CONSTRUCTION EXECUTIVE SUMMARY 1 Q2’2020 net profit grew 62.5% y-on-y

, revenues reached Bt2,564mn, grew by 80% YoY and 141% QoQ, with an improvement in net earnings from net losses in 4Q16 and 3Q17 to a net profit of Bt654mn in this quarter, mainly from the recognition of the

) of 14-15% per annum through 2-3 new projects a year, asset enhancement projects to add value to existing malls, regular rental increase, and operational improvement. Retail Property Development

Discussion and Analysis EXECUTIVE SUMMARY SIGNIFICANT EVENTS ABBREVIATION & OUR PROJECTSFINANCIAL PERFORMANCE FINANCIAL POSITION PROGRESS OF PROJECTS UNDER CONSTRUCTION EXECUTIVE SUMMARY 1 MOU signing with

investment of THB 281 mn. Asset Enhancement Projects 1) CentralWorld started a phase-by-phase major renovation since 4Q16 and is expected to be progressively completed by 3Q18. Occupancy rate at the end of

% in previous year to 26.43% due to change in product sales mix of general merchandise and the enhancement of directly sourced private-label goods’ profit margin, as well as the continuous efficiency

“Need Improvement” and subject to mandatory follow-up in the next cycle has dropped significantly. This progress was contributed by audit firms’ continuing emphasis on quality improvement. Heads - 02 - of

audit quality, training sessions on how to remedy the recurring deficiencies identified in several audit firms. Such efforts to develop audit 02 quality have evidently paid off with the improvement of the

industrial waste to energy power plant project located at Ratchaburi Industrial Estate and operated by Progress Interchem (Thailand) Co., Ltd. (“Interchem”) with a contracted capacity of 4.0 MW (an installed