Nirvana Daii Public Company Limited (“NVD”), a 52%-owned subsidiary of Singha Estate, invested in January 2017. 1Q18 consolidated net profit grew 651% YoY, as the performance incorporated (non-cash) gains

residential business of Nirvana Daii Public Company Limited (“NVD”), a 52%-owned subsidiary of Singha Estate, invested in January 2017. In spite of higher revenues, earnings before taxes (“EBT”) declined by 589

residential business of Nirvana Daii Public Company Limited (“NVD”), a 52%-owned subsidiary of Singha Estate, invested in January 2017. Likewise, net profit jumped from increased revenues. Likewise, as for 4Q17