of the firm's assets as shown on equation Mackie Mason (1988) study on tax effects on asset values and investment decision and find that non debt tax shield e.g. the amount of tax carry forward or tax

receivable. • Non-current assets increased by THB 517 million mainly from increase in goodwill from investments in ECC and goodwill from Investment in subsidiary of Elite Havens. Liabilities As of 31 March

backlog was THB 16,745mn, decreasing by 6.9% as compared to the end of 2018 of THB 17,981mn. Although the JVs had sturdy sales in The Line Wongsawang, The Line Ratchathewi and The Line Phahonyothin Park

performance in 9M18 as expected. Major Development in 3Q18 On 13 September 2018, the Company has issued 1/2018 senior secured and non-collateral corporate bond with total amount of THB 1bnThe bonds has 3-year

16.0% from 31 December 2017.  Current assets increased by THB 340 million due to an increase in account receivables and advance to villa owner  Non-current assets increased by THB 1,255 million mainly

and small business loan. Although, the non-performing loans affected profitability, but the Thai commercial banking system still remained sturdy. Credit Rating Land and Houses Bank Public Company

loan. Although, the non-performing loans affected profitability, but the Thai commercial banking system still remained sturdy. Credit Rating Land and Houses Bank Public Company Limited is assigned the