main driver in increasing the cost-to-sales ratio from 53.1% to 64.4% in this year. VGM’s cost structure is higher than MACO’s domestic business due to higher expenses from concession in Transit and

fluctuated in 2019 (in range of 35.50 – 14.00 Baht/Kilogram, with variance of 21.50 Baht/Kilogram), where CPO price was higher fluctuated than in 2018 (in range of 23.00-16.00 Baht/Kilogram, with variance of

higher cost of completed projects in 2019. - Selling expenses in 2019 amounted 872.15 million baht increased by 255.23 million baht or 41.37% compared to 616.92 million baht in 2018 due to the increase of

more than 0.03% but less than 3% of NTA (3% of NTA = 14.38 Mb.)* whichever is higher. This transaction must be approved by the Board of Directors and disclosed to the Stock Exchange of Thailand but need

profit margin of the certain residential projects was also decreased as a higher competition. The decrease in sales and slightly increase in gross profit margin in 1 and 2 make a decrease of 2,957.72

volume and the drought situation nationwide including Eastern area. The detail is as follows: 1) Electricity cost increased due to the higher raw water distribution to Chonburi area. Since the water supply

Profit increased in higher magnitude mainly as a result of higher Excessive Charge. Share of Profit from Investments in Associates and Joint Ventures (“Share of Profit from Investments”) (Unit : Million

(Sathon-Kallapaphruek). The interest rate higher than Financial Institution’s interest rate (Mortgage Loan) due to terms and Conditions of this loan not to mortgage and is a short term loan. 4 9. Opinions

) (418) (17) (4%) Profit (Loss) before FX, deferred income tax, impairment and impact of lease income 394 200 194 97% - NTPC : The operating result was increased by 194 million Baht due to a higher water

loss from the operation higher than last year quarter by THB 416 million due to; - Stabilized HRC price: the average selling price of HRC in Q2-2017 was THB 17,403/ton, decreased by 7% as compared with