European fixed income – trends and analysis SEC Classification : ใชภ้ายใน (Internal) - R E S P O N S I B L E I N V E S T M E N T - ESG Incorporation & Investment Strategies in Fixed Income Carmen

because the income from sale has decreased from 13,855.41 million THB to 8,719.77 million THB or 37.07%. The majority of the income derived from ready-to- move-in projects, accounting for 72% of the income

million THB, most of which is the income recognition of ready-to-move-in projects as well as the 4 projects completed and ready to be handed over. There is thus lesser number of projects under construction

the Company and subsidiary companies increased 17.32% and 0.60% respectively, most of which was the income recognition from ready-to-move-in projects and recognition of one project completed in Q1/2019

685.93 15.54% 4. Total main income 1,405.14 2,290.51 (38.65%) 5,869.09 7,073.44 (17.03%) Note 1 In Q3/2019, it is mainly the recognition of income from ready-to-move-in projects completed in 2018 i.e. 18

in MAESTRO 07 Victory Monument which completed construction in end of 2018 and other ready to move in projects such as M Jatujak, MAESTRO 03 Ratchada-Rama9, MANOR Sanambinnam due to sales promotions

mainly from ready to move-in projects while there were 3 low-rise projects, Maestro 03 Ratchada-Rama9, Maestro 14 Siam-Ratchathevi and Maestro 01 Sathorn-Yenakat, completed and started transfer in Q2/2018

property development services with the focus on the quality of life of the residents managed with “Vibrant Community” concept and develop a home for lower-middle to upper-middle income earners at the

sales of real estate 1 8,717.30 10,187.25 (14.43%) Note 1 The details of the income in 2019 are as follows: 1. 44% derived from ready-to-move-in projects completed in 2018 i.e. 21% from residential

baht which is greater than the same quarter in the previous year which the net loss was 2.76 million baht due to the income derived from providing consulting service regarding domestic transportation