inventory, the sales promotion expenses (excluding ownership transfer expenses) increase 26.76%. As a result, the net profit has decreased 5.34% from that of the same quarter of the previous year. In Q1/2018

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institutions has become very strict and loan rejection rate has been rising. In addition, the projects developed by the Company are large-scale, resulting in an increase inventory. The Company, therefore

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will be handed over and the ownership will be transferred in the latter half of 2018. As for single home projects, the Company has bought a piece of land and started developing “BAAN 365 RAMA III”, a

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performance of the Company is deteriorating. The Company has been able to sell the products but the ownership transfer target cannot be achieved. The operational strategy has thus been adjusted and 2017 is

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