body to the International Accounting Standards Board (“IASB”) that involves in the consultative process of the IASB and takes steps to encourage broad participation in the development of IFRS as high

economic activity in the second quarter of 2017 continued to expand, driven by export of goods which showed a high and more broad-based expansion and the tourism sector which continued to expand steadily

of recovery especially in 4Q17 as evident by the more broad-based recovery from the external sectors to the domestic sectors. With exports registering a growth of 9.9% for total year 2017 comparing to

% % Revenue from hotel operations 279.41 68.61 284.71 51.49 (1.86) 646.47 71.23 666.78 49.31 (3.05) Revenue from property development operations 89.64 22.01 254.35 46.00 (64.76) 204.60 22.54 658.55 48.70 (68.93

signs of recovery especially in 4Q17 as evident by the more broad-based recovery from the external sectors to the domestic sectors. With exports registering a growth of 10.0% for the first 11 months of

Development Company Limited. 5. Expected Benefit 1. Supporting the company’s policy to diversify in to Property Business 2. To enable continuous growth in the Company’s assets, profits, and cash flows. 6

investment LPN made in the above real estate development project and the establishment of a joint- stock company is to bring about long-term business growth. It will generate more income for LPN as it is

a development project of tourist facilities on Emboodhoo Lagoon in the Republic of Maldives (“Crossroads”), by acquiring interests in a separated head lease, which covers three resorts and an

the ratification of the acquisition of assets of the ordinary shares of Phuketfuture Development Company Limited in the proportion of 80 %, approved by the Board of Directors' Meeting No. 4/2015 held on

contributions of Members and Observers of the Principles, and of the wider community of stakeholders. They are updated as required in order to reflect the development and growth of the global Social Bond market