by processes operating in nature, and as a result, generally must be maintained by human intervention in order to sustain the functions and services for which they were built.2 Given that background

20.0 mm or 7.8% from the same period of previous year. The main reason was due to higher occupancy rate of Ready-Built factories and warehouses.  Gross profit from rental and service of warehouses

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

house with a capacity of 150,000 birds per day will be newly built by 2020. Finally, further processing plant for cooked product for export with capacity of 24,000 metric tons per year will be constructed

% for the warehouse rental and service business which decreased from 57.0% in the same period of previous year, mainly due to change in product mix between Built-to-Suit and Ready- built facilities. 2

WHABT as mentioned above. However, the Company had higher occupancy rate for ready-built facilities as well.  Gross profit from rental and service of warehouses, distribution centers and factories during

gross margin in was 47.9% which decreased from 61.1% in 2017. The decrease in genuine gross margin, compared to the same period of last year, was mainly due to change in product mix between Built-to-Suit

Built-to-Suit and Ready-built facilities. Industrial Development Business Q2 2016 Q2 2017 Increase/(Decrease) THB mm THB mm THB mm % Revenue 460.6 1,789.8 1,329.2 288.6% Gross Profit 116.5 949.2 832.7

and services increased by 5.8%, mainly from continuously increase in occupied area of ready-built factories and warehouses. • Revenue and share of profit from sale of investment properties was THB

genuine gross margin in 2017 was at 57.5% for the warehouse rental and service business which decreased from 69.0% last year, mainly due to change in product mix between Built-to-Suit and Ready-built