issued shares to the private placement investor will strengthen the long-term financial structure and the debt to equity ratio of the Company by increasing more financial flexibility for future project and

September 30, 2018, the Company’ s interest-bearing debt to equity ratio was merely 0.002 times, and its debt to equity ratio was 0.04 times. Please be informed accordingly. Very truly yours, Supamas

applying for credit facilities from financial institutions for use as its working capital for business operations. As of September 30, 2018, the Company’ s interest-bearing debt to equity ratio was merely

financial cost of 11.47 million Baht, increase by 0.22 million Baht or an increase of 1.96% from the previous year. As of 30th Sep 2019, the Company had a Debt to Equity ratio of 1.65 times, an Interest

Jet fuel production proportion during the winter season, while demand was lower than expected leading to higher export volume. Furthermore, the entire Asia was unable to export Jet fuel to Europe

see the improvement of DE and Current ratio. However, the Balance Sheet restructuring is subject to the coming EGM which will be held on 30 August 2017. Apart from the improvement of Balance Sheet, the

$ 1.9B. Interest cost is expected to come down for year 2020, thanks to lower benchmark rates. Our net operating debt to equity went up to 1.35 times primarily due to the acquisition of Spindletop

Baht 174 million or 45.5% from Q3/2018-2019 thanks to stricter expense control scheme. The Company focused more on Brand investment and Online channel activities that reached consumer directly during the

faithfully, Mr. Hiroaki Sano Managing Director 2018 2017 Gross profit margin 21.5% 19.9% Net profit margin 15.2% 11.6% Debt to Equity ratio 0.09 0.11 Earnings per share 2.58 1.90 ROA 15.8% 12.3% ROE 16.3% 13.2%

% Debt to Equity ratio 0.08 0.09 Earnings per share 3.07 2.58 ROA 14.4% 15.8% ROE 17.5% 16.3%