. The main reason that the revenue from sales has decreased due to the Rubber wood kiln dried sawn timber which is the main business of the company in 2018 has highly volatility of the market that caused

million Baht from the same period of fiscal year 2018 with total revenues of 146.70 million Baht or a decrease of 45.73 percent. The revenue decrease was partly result from the Rubber Wood Sawn Timber

or a decrease of 36.01 percent. The revenue decrease was partly result from the Rubber Wood Sawn Timber business which is the main income of the Company has decreased the export of Rubber Wood Kiln

wood kiln dried sawn timber which is the main business of the company. The business was impacted by volatility caused since 2019 as a result of trade war between United States and China, where China was

List of foreign auditors approved by the office of SEC No. Audit Firm Name CPA No. Approval Period 1 Baker Tilly Monteiro Heng PLT Baker Tilly Tower Level 10 Tower 1 Avenue 5 Bangsar South City 59200

Company has decreased Rubber Wood Kiln Dried Sawn Timber in export due to majority of customers in China have requested to delay the shipments because customers are in process of improving environment in

74.99 Total Condominium 795.22 18.69% 930.52 30.52% 3 Unit : Million Baht Project Name Year 2017 % Year 2016 % Townhouse J Town Preaksa 333.78 316.45 J City Preaksa 45.54 - J Town Rangsit 326.30 389.64 J

Requirements for sustainable forest management .................................................................................................................. 14 3.4 Requirements for non-timber forest

MANAGEMENT DISCUSSION & ANALYSIS 2019 14 FEBRUARY 2020 U CITY PCL 2019 - MD&A (for the year ended 31 December 2019) 1 U CITY PCL 2019 KEY FINANCIAL HIGHLIGHTS • Total revenue increased by 53.4% YoY

., Ltd. (engage in business of Rubberwood Sawn Timber) and Fancy Assets Co., Ltd. (engage in business of real estate) with total income increase of 67.25 million Baht and 107.31 million Baht respectively