’ environment. CPN successfully maintain an effective capital structure and flexible financing cost structure, as well as prepare adequate funding to support the investment plan and lower the financing cost at

December 2017. CPN continues to emphasize on effective revenue generation through new shopping malls, enhancement of existing malls, as well as efficient cost management. CPN currently manages 32 shopping

REIT (“CPNREIT”) in December 2017, and the increase in utility cost due to the increase in electricity Ft rate since May 2017. CPN continues to emphasize on effective revenue generation through new

following factors. • Higher cost of land lease and amortization at CentralPlaza Rama 2 as a result of the extension agreement on June 28, 2018, which is effective until 2055 and 2060 (some parts). Hence, a

following factors. • Higher cost of land lease and amortization at CentralPlaza Rama 2 as a result of the extension agreement on June 28, 2018, which is effective until 2055 and 2060 (some parts). Hence, a

THB 250 mn, a decrease of 1.1% YoY) in line with the decrease in revenue. Both hotels showed effective cost control in both room and food and beverage management. Cost of sales In 3Q18, CPN reported

sales compared to the same period of 2018 which has cost of sales 767.27 million baht or 88.70% of sales due to proper product management and effective resulting in reduced cost of sales. - Selling and

proper product management and effective resulting in reduced cost of sales. Yours Sincerely, Mr. Perapol Suwannapasri Managing Director

with the same period in 2016 decreased from THB 88.79 million to 78.12 million or decreased THB 10.67 million or 12.01% because of effective cost management. Net profit of Company’s operation Net profit

from the last year because of inventory management and effective manufacturing cost control. 3. Gross profit margin was 3.56% of Revenue from sale and service, increased from last year that gross profit