Promotion Operation Review ... 1 The effect of natural disaster on earnings management Supavinee Jevasuwan Kasetsart University SEC Working Papers Forum 19th August 2015 2 Research Question 3

and administrative expenses In Q3/2017, Mana Patanakarn Co., Ltd., the real estate development company, had sales & promotion expenses to boost sales of condominium projects “Aspen Condo” Phase A. As a

Year 2017 Year 2016 Mana Patanakarn Company Limited 89.27 56.97 Advance Prefab Company Limited 13.47 -0- TasteMaker Company Limited 0.87 -0- Total 103.61 56.97 In 2017, sales and promotion expenses of

promotion period, value and amount of gift, rights or any other benefits are appropriate and fair, following the Office’s guideline which will be notified in advance. Clause 11. The advertisement shall not

for Advertisement Related to Promotion of Sales of Investment Units and Providing of Fund Management Services _____________ By virtue of Section 98(10) of the Securities and Exchange Commission Act B.E

the Office of the Securities and Exchange Commission No. SorKhor/Nor. 7/2551 Re: Rules, Conditions and Procedures for Advertisement Related to Promotion of Sales of Investment Units and Providing of

. ----------------------------- Notification of the Office of the Securities and Exchange Commission No. SorKhor/Nor. 10/2552 Re: Rules, Conditions and Procedures for Advertisement Related to Promotion of Sales of Investment Units and

sale promotion in Q1–2018, resulting in the other income for Q1–2018 was relatively low. Selling and Administrative Expenses Selling Expenses of Q1–2019 increased from Q1–2018, mainly due to the

., which operates estate business, has promotion expenses in order to boost sales from the same quarter of 2018. Also, Advance Prefab Co., Ltd., which is in concrete product manufacturing business, has

sale of property - and received more sale promotion support from supplier. Thus, the details of the Company’s performance are explained as follows; Q1/2017 Q1/2018 Change MB. % MB. % MB. % Rental and