1Q19 Quarterly Results SET Digital Roadshow 5 June 2019 1Q19 - - PowerPoint PPT Presentation

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1Q19 Quarterly Results SET Digital Roadshow 5 June 2019 1Q19 - - PowerPoint PPT Presentation

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1Q19 Quarterly Results SET Digital Roadshow 5 June 2019 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 Disclaimer The information (the Information ) contained in this presentation is strictly confidential and is provided

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SLIDE 1 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

Quarterly Results

1Q19

SET Digital Roadshow

5 June 2019
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SLIDE 2 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

Disclaimer

2 The information (the “Information”) contained in this presentation is strictly confidential and is provided by Nirvana Daii Public Company Limited (“NVD”) solely for information purpose and does not constitute an offer or invitation to sell or the solicitation of an
  • ffer or invitation to purchase or subscribe for share in NVD. Any such purchase should be made solely on the basis of the information
contained in the announcements to the Stock Exchange of Thailand relating to such securities. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness. Neither this presentation nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) redistributed, passed on or otherwise disseminated, to any other person either in your
  • rganization or elsewhere, without the prior written consent of NVD.
This presentation contains projections and forward‐looking statements that reflect NVD's current views with respect to future events and financial performance. These views are based on our management’s assumptions and beliefs in light of the information currently available to us including a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside our control. Although care has been taken to ensure that the Information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the Information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning NVD. You are cautioned not to place undue reliance on these forward looking statements. No assurance can be given that future events will occur, that projections will be achieved, or that NVD's assumptions are correct. Please note that NVD and executives/staff do not control and cannot guarantee the relevance, timeliness, or accuracy of these
  • Information. NVD undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. None of NVD’s executives/staff or any of its agents, or all of their respective affiliates, or representatives shall have any liability (in negligence or otherwise) for any loss howsoever.
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SLIDE 3 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

Agenda

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▪ 1Q19 Key Activities

▪ Land Acquisition for New, Upcoming Project ▪ Exclusive Launch of Flagship Products: Bangkok & Provincial ▪ Nirvana BEYOND Rama9-Krungthep Kreetha ▪ Nirvana BEYOND Udonthani ▪ BTRRB Marketing Activities

▪ 1Q19 Financial Results

▪ Consolidated P&L: Growth Story & Profitability Improvement ▪ Consolidated Statements of Financial Positions: Financial Strength Continued

▪ Business Outlook

▪ On-going Projects with Sales-Transfers-Backlog Report ▪ FY19 Performance Drivers ▪ Landbank Update ▪ Expected Milestones
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SLIDE 4 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

1Q19

Key Activities

SET Digital Roadshow

5 June 2019
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SLIDE 5 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 5

Feb-19: Land Acquisition

For Upcoming New SDH Project

▪ Land size of 43.7 rai ▪ Bangna-Kingkaew area ▪ New product segment of SDH series: Nirvana ELEMENT ▪ Expected launch in 2H19

1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 6 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 6

Mar-19: Exclusive Launch of Flagship Products

All-new Nirvana BEYOND Series Sneak Preview 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 7 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 7

Mar-19: Exclusive Launch of Flagship Products

▪ Exclusive launch of All-new Nirvana BEYOND Series:

▪ Nirvana BEYOND Rama9-Krungthep Kreetha (JV with DH Group) ▪ Nirvana BEYOND Udonthani (Turnkey Solution)

▪ Three types: SPACE, MIND, and LUXE ▪ By registration only with special offers

All-new Nirvana BEYOND Series Sneak Preview 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 8 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 8

Mar-19: Exclusive Launch of Flagship Products

Nirvana BEYOND Rama9-Krungthep Kreetha Project Value

Bt.2,600m

▪ 85 units of All-new Fully-prefabricated Nirvana BEYOND series ▪ 49%-owned JV Project in partnership with Daiwa House Industry of Japan ▪ Equity income accounted on NVD’s consolidated financial statements Type LUXE: Exterior Staircase Type LUXE: Living Room Type LUXE: Trapezoid Void Space 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 9 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 9

Mar-19: Exclusive Launch of Flagship Products

Nirvana BEYOND Rama9-Krungthep Kreetha Project Value

Bt.2,600m

▪ 85 units of All-new Fully-prefabricated Nirvana BEYOND series ▪ 49%-owned JV Project in partnership with Daiwa House Industry of Japan ▪ Equity income accounted on NVD’s consolidated financial statements Front Gate 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 10 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 10

Mar-19: Exclusive Launch of Flagship Products

Nirvana BEYOND Rama9-Krungthep Kreetha Project Value

Bt.2,600m

▪ 85 units of All-new Fully-prefabricated Nirvana BEYOND series ▪ 49%-owned JV Project in partnership with Daiwa House Industry of Japan ▪ Equity income accounted on NVD’s consolidated financial statements Club House & Facilities 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 11 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 11

Mar-19: Exclusive Launch of Flagship Products

Nirvana BEYOND Rama9-Krungthep Kreetha Project Value

Bt.2,600m

▪ 85 units of All-new Fully-prefabricated Nirvana BEYOND series ▪ 49%-owned JV Project in partnership with Daiwa House Industry of Japan ▪ Equity income accounted on NVD’s consolidated financial statements Club House & Facilities 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 12 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

Mar-19: Exclusive Launch of Flagship Products

Nirvana BEYOND Rama9-Krungthep Kreetha 1Q19 Quarterly Results | SET Opportunity Day | 27 May 2019 Club House & Facilities 12 Project Value

Bt.2,600m

▪ 85 units of All-new Fully-prefabricated Nirvana BEYOND series ▪ 49%-owned JV Project in partnership with Daiwa House Industry of Japan ▪ Equity income accounted on NVD’s consolidated financial statements
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SLIDE 13 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 13

Mar-19: Exclusive Launch of Flagship Products

Nirvana BEYOND Udonthani Project Value

Bt.1,000m

▪ 40 units of All-new Fully-prefabricated Nirvana BEYOND series ▪ Turnkey Solution Project in Udonthani (Partnership with Landlord) ▪ Income recognition only on home building contracts Front Gate View from Nong Prajak Lake

Mar-19: Exclusive Launch of Flagship Products

Nirvana BEYOND Udonthani 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 14 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 14

Mar-19: Exclusive Launch of Flagship Products

Nirvana BEYOND Udonthani Project Value

Bt.1,000m

▪ 40 units of All-new Fully-prefabricated Nirvana BEYOND series ▪ Turnkey Solution Project in Udonthani (Partnership with Landlord) ▪ Income recognition only on home building contracts Club House & Facilities 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 15 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 15

Mar-19: Exclusive Launch of Flagship Products

Nirvana BEYOND Udonthani Front Gate with Club House & Facilities Project Value

Bt.1,000m

▪ 40 units of All-new Fully-prefabricated Nirvana BEYOND series ▪ Turnkey Solution Project in Udonthani (Partnership with Landlord) ▪ Income recognition only on home building contracts 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 16 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 16

Mar-19: Exclusive Launch of Flagship Products

Nirvana BEYOND Udonthani
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SLIDE 17 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 17

Mar-19: BTRRB Marketing Activities

Private Dining Events 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 18 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

1Q19

Financial Results

SET Digital Roadshow

5 June 2019
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SLIDE 19 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

1Q19 Financial Results

Growth Story with Margin Improvements 19 Consolidated Statements of Incomes Commencing Partnerships for Growth ▪ Partnerships for Growth, one of NVD’s strategic drives to create higher values, well portrayed this quarter ▪ Nirvana BEYOND Rama9-Krungthep Kreetha: ▪ Joint-venture project with Daiwa House Industry Group (“DH”), one of Japan's largest homebuilder specializing in prefabricated houses ▪ VIP launch on 30-31 March was well-received with the first few units booked at the event ▪ Nirvana BEYOND Udonthani: ▪ First provincial “Turnkey Solution” project in the heart of Udonthani uptown ▪ First presales event in late March with the first two types
  • f model houses (i.e. Space and Mind) also received
good responses from customers. ▪ A full launch with all three types of model houses is expected for 2Q19. Growth Story with Margin Improvements ▪ NVD’s first, one-of-a-kind, ultra-luxury condominium, Banyan Tree Residences Riverside Bangkok (BTRRB) continued to support for the strong performance, not
  • nly for growth, but also for higher margins, transferring
another 13 units to customers ▪ Quarterly operating profits also improved over recent years with 1Q19 EBIT margins of 15% vs. 9% in 1Q18 ▪ Revenue from sales of landed residential projects were 14% growth yoy, mainly from Nirvana BEYOND Srinakarin and Nirvana DEFINE Srinakarin-Rama9 units transfers
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SLIDE 20 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 20 Consolidated Statements of Financial Positions Consolidated Statements of Financial Position Bt.m % Bt.m % Bt.m % Assets: Cash and cash equivalents 1,104 9% 617 5%
  • 486
  • 44%
Trade and other receivables & related parties 457 4% 486 4% 29 6% Inventories & Costs of property development 8,411 68% 8,824 71% 413 5% Total current assets 10,052 81% 10,003 81%
  • 49
0% Restricted bank deposits 27 0% 8 0%
  • 18
  • 69%
Other non-current assets 227 2% 252 2% 25 11% Total non-current assets 2,400 19% 2,411 19% 11 0% Total assets 12,452 100% 12,414 100%
  • 39
0% Liabilities: Trade and other payables 560 4% 431 3%
  • 129
  • 23%
Land purchase payables due within one year 57 0% 503 4% 446 784% Interest bearing debts due within one year 2,052 16% 3,042 25% 990 48% Other current liabilities 121 1% 144 1% 23 19% Total current liabilities 3,361 27% 4,544 37% 1,184 35% Land purchase payables 503 4% 57 0%
  • 446
  • 89%
Interest bearing debts due over one year 3,760 30% 2,906 23%
  • 855
  • 23%
Total non-current liabilities 4,298 35% 2,997 24%
  • 1,301
  • 30%
Total liabilities 7,659 62% 7,542 61%
  • 117
  • 2%
Total equity 4,794 38% 4,872 39% 78 2% Total liabilities and equity 12,452 100% 12,414 100%
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0% Remarks: Total land purchase payables 560 4% 560 5% 0% Total interest-bearing debts 5,813 47% 5,948 48% 135 2% Changes YE18 1Q19 Overall balance sheet size slightly decreased from YE18 on transfers of more land & construction works in progress ASSETS ▪ Inventory and Costs of Property Development increased from: ▪ Transfer of about 43.7 rais for new landed residential project in Bangna-Kingkaew area ▪ BTRRB condominium project reclassified to inventory as the project now ready for transfers to customers since 4Q18. LIABILITIES ▪ Reclassification of Bt.446m Land purchase payable for 71.5-rai land plot in the north-side of Krungthep-Kreetha landbanks from non-current liabilities to current liabilities. ▪ The land was acquired in 1Q18 and paid by AVAL promissory note due in 1Q20. ▪ Interest-Bearing Debts increased due to: ▪ Bridging loan for 43.7-rai Bangna-Kingkaew land acquisition in Feb-19 ▪ BTRRB project finance loan decrease following loan repayment subsequent to units transfers

1Q19 Financial Results

Financial Strength Continued
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SLIDE 21 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

2Q19

Outlook

SET Digital Roadshow

5 June 2019
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SLIDE 22 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 23 Projects Project Values Price Range Total Project Sold Transferred Backlog Available for Sales Single Detached Homes Nirvana BEYOND - Kaset Nawamin Ph.1 1,070 12-35 67 66 66 1 Nirvana BEYOND - Srinakarin 987 13-35 58 56 52 4 2 Nirvana BEYOND - @Beach 424 15-20 21 1 1 20 Nirvana BEYOND - Kaset Nawamin Ph.2 716 15-30 37 35 35 2 Nirvana BEYOND - Rama 2 Ph.1 1,230 16-60 66 20 19 1 46 Nirvana BEYOND - Rama 2 Ph.2 985 14-30 54 3 3 51 Nirvana BEYOND - Udonthani 530 25-30 40 9 9 31 Nirvana BEYOND - Rama9-Krungthepkreetha 2,943 23-60 85 2 2 83 ICON - Pinklao 189 16-23 28 3 1 2 25 The TARA - Ramintra 279 4-10 54 39 39 15 Townhomes CLUSTER by Nirvana - Ratpattana 102 3-8 20 10 10 10 COVER by Nirvana - On-nut 550 2-6 194 193 193 1 DEFINE - Rama 9 612 8-27 51 50 50 1 DEFINE - Srinakarin-Rama 9 1,900 7-20 173 71 39 32 102 Home Offices @WORK - Ramintra 1,042 13-25 61 33 31 2 28 @WORK - Ladprao-Kaset Nawamin 1,055 13-31 56 24 21 3 32 Condominium BANYAN TREE Residences Riverside Bangkok 6,678 20-300 133 62 31 31 71 Estimated Values (Bt.m) 1,733 10,977 Bt.m #Units As of Mar 31, 2019

2Q19 Outlook: On-going Projects

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SLIDE 23 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 24
  • 71 units sold (86% of Phase-1 Total) at 1Q19
  • 39 units transferred in 1Q19
  • Backlogs of 32 units expected to be transferred within 1H19
  • Phase 2 launch planned in 2Q19

2Q19 Outlook: Nirvana DEFINE Srinakarin-Rama 9

Develop-for-Sales 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 24 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 25

2Q19 Outlook: Nirvana BEYOND Rama9-Krungthep Kreetha

  • Official launch with Press conference in Apr-19
  • YTD: 5 units booked, 3 units of backlogs
  • More marketing activities throughout the year
Develop-for-Sales: JV Project 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 25 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 26

▪ 62 units sold at end of 1Q19 ▪ Title Deed issued in Nov-18, a total 31 units transferred since then until end of 1Q19 ▪ More sales and transfers of remaining backlogs expected throughout FY19 ▪ Top-floor, Duplex Penthouse sold in May-19

2Q19 Outlook: Banyan Tree Residences Riverside Bangkok

Develop-for-Sales 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 26 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 27

▪ 62 units sold at end of 1Q19 ▪ Title Deed issued in Nov-18, a total 31 units transferred since then until end of 1Q19 ▪ More sales and transfers of remaining backlogs expected throughout FY19 ▪ Top-floor, Duplex Penthouse sold in May-19

2Q19 Outlook: Banyan Tree Residences Riverside Bangkok

Develop-for-Sales 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 27 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 28

▪ 62 units sold at end of 1Q19 ▪ Title Deed issued in Nov-18, a total 31 units transferred since then until end of 1Q19 ▪ More sales and transfers of remaining backlogs expected throughout FY19 ▪ Top-floor, Duplex Penthouse sold in May-19

2Q19 Outlook: Banyan Tree Residences Riverside Bangkok

Develop-for-Sales 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 28 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

2Q19 Outlook: The MOST by Nirvana – Issaraphap Road

Develop-for-Sales: New Condominium Project 29

▪ Low-rise, 8-story condominium near Siriraj Hospital, blue-line, and orange-line trains ▪ Project value Bt.650m: 196 units with sellable area of 5,900 sqm ▪ Sales Gallery construction in progress ▪ Expected launch in late 2Q19

1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 29 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019 30

2Q19 Outlook: Nirvana BEYOND Udonthani

▪ 12 units booked, 10 units of backlogs ▪ Full official launch expected in 2Q19 ▪ More marketing activities planned

Recurring Income: Turnkey Solution Project 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 30 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

2Q19 Outlook: Prefabricated Park&Ride Structure

Recurring Incomes: Park&Ride Structure

▪ Two 6-story prefabricated building structures in Soi Chey-puang near BTS Mo-chit & MRT Chatuchak ▪ Total of 720 parking spots (360 spots per building) ▪ First-building Park&Ride operations expected to commence in 2Q19

31 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 31 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

2Q19 Outlook: Prefabricated Construction Service Contract

Recurring Incomes: Dormitory Building & Facilities 32

▪ 2 prefabricated dormitory buildings & facilities at Singha Park Chiengrai, value about Bt.50m ▪ Turnkey construction works started in Oct-18, expected to complete within 2Q19

1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 32 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

2Q19 Outlook: Landbanks

Subtitle 33

215.5rai

104 acres Srinakarin-Romklao Road Rattanathibet Road

35,000m

POTENTIAL PROJECT VALUE Bt.

7.9rai 4.5rai

3.1 acres 1.8 acres

228rai

HIGH-POTENTIAL, QUALITY ASSETS 108.9 acres 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019
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SLIDE 33 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

FY19 Outlook: Expected Milestones

34

Bt.17,500m

1H19 2H19

DEVELOP FOR SALES SINGLE HOUSES CONDO TOWNHOUSE New location RECURRING INCOMES TURNKEY SOLUTIONS PARK&RIDE
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SLIDE 34 1Q19 Quarterly Results | SET Digital Roadshow | 5 June 2019

Quarterly Results

1Q19

Contact: IR@nirvanadaii.com Kanlayanee Panthong, DBA. AVP – Investor Relations +662 105 6789 x505