News Detail

Date/Time
26 Feb 2016 08:24:00
Headline
Management Discussion and Analysis Yearly Ending 31-Dec-2015
Symbol
ESTAR
Source
ESTAR
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                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
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