startup firms for enhancement of our business capabilities to achieve sustainable growth while maintaining our market leadership over the long term. Guided by our core strategies of “Customer Centricity

great emphasis on effective revenue generation from new malls, asset enhancement, coupled with efficient operating costs management. Currently, CPN manages 30 shopping malls with the net leasable area

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

ESSE Asoke’ (77% sales progress, tentative transfer in December 2018), ‘The ESSE at Singha Complex’ (91% sales progress, tentative transfer in 3Q19), and ‘The ESSE Sukhumvit 36’ (52% sales progress

revenue generation through new shopping malls, enhancement of existing malls, as well as efficient cost management. CPN currently manages 32 shopping malls with the net leasable area (NLA) of approximately

progress reached 91%. The project is due to complete in 3Q19. • In February, the Company partnered-up with HKL (Thai Developments) Limited, a subsidiary of a global developer Hongkong Land Holdings Limited

operate. For the progress of the joint venture company, the Genco Otani Co.,Ltd has already signed an agreement for constructing the new pretreatment plant and ordered the machines and equipment from the

3Q17, sales progress reached 91%. The project was due to complete in 3Q19. Management Discussion and Analysis 3Q17 & 9M17 Consolidated Financial Results Page 2 of 6 • In February 2017, the Company

venturer in Shahahydro joint venture with the 100.00% shareholding. During the 3rd quarter, the construction of the project has been already implemented with the work progress equivalent to 8.28%. 3. SUT

also made continuous progress with the asset enhancement initiatives, particularly with CentralWorld, which is on track for completion in 3Q18. Preparations are also made with the major renovation