26 Feb 2016 08:24:00
Management Discussion and Analysis Yearly Ending 31-Dec-2015
Management Discussion and Analysis Company name : EASTERN STAR REAL ESTATE PUBLIC COMPANY LIMITED Year : 2015 Quarter : Yearly Ending : 31-Dec-2015 Note : Subject : Clarification of change from operation of more than 20% for the year ended December 31, 2015 To : Director and Manager, The Stock Exchange of Thailand For the year ended December 31, 2015, Eastern Star Real Estate Public Company Limited and its subsidiaries reported net profit of Baht 131.59 million while the same period of 2014 net profit was Baht 278.58 million, of which has profit decreased by Baht 146.99 million or 53%. The company would clarify the main reasons of change more than 20% as follows: 1. Revenue from sales and revenue from rental and services in the year 2015 increased Baht 440.10 million and Cost of goods sold and cost of rental and services in the year 2015 increased Baht 434.85 million, compared with the year 2014, mainly resulted from increasing revenues recognitions from units transfer of houses and residential condominium project in Bangkok more than in the year 2014. 2. Other income in the year 2015 were decreased by Baht 36.48 million compared with the year 2014, resulted from sales of land in Bangkok and Rayong in the year 2014. 3. Loss on diminution in value of assets in the year 2015 were increased Baht 4.27 million compared with the year 2014, the whole amount impairment loss in assets. 4. Reversal of loss on diminution in value of assets in the year 2015 were decreased by Baht 127.26 million compared with the year 2014, resulted from reversal of impairment of the land. Land valuation based on market price of land. 5. Financial cost in the year 2015 were decreased by Baht 7.20 million, compare with the year 2014, resulted from loan repayment to debtor in the year 2015. 6. Income tax expense in the year 2015 were decreased by Baht 22.77 million, compared with the year 2014. The company has decreased profit in the year 2015. Please be informed. Sincerely Yours, (Mr. Paiboon Wongjongjaiharn) Acting Managing Director This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.