Net operating debt to equity at 0.61 times with strong operating cash flow. Dividend payout remain much higher than its stated policy of 30% of net profits. Perpetual debenture of THB 15b refinanced at

Baht 1,810 million last year mainly due to waiver of interest of Baht 5,506 from creditors consequent to conversion of the Debt to Equity, Gain from capital reduction in Subsidiary Baht 1,130 million and

. Also, there were concerns about pockets of risks in the property market, further accumulation of household debt, and debt serviceability of SMEs, especially those affected by changes in structural

accordingly (for year 2016: sale volumes and production volumes at 187,043 tons and 189,008 tons in accordingly) - Gain from debt restructuring was achieved of THB 110 million resulting from debt-to- equity

power, as farm income continued to be constrained by low prices of agricultural products and nonfarm income remained lackluster. Moreover, high levels of household debt caused the generation of new loans

(THB) 0.43 0.25 0.85 +0.19 (0.42) Core EBITDA/T ($) 94 92 115 2% (18)% Operating Cash Flow5 300 340 385 (12)% (22)% Net Operating Debt to Equity (times) 1.32 1.35 0.65 (2)bps +67bps * Integrated Oxides

working capital and at the same time the financial position and the debt structure of the Company will be more reasonable. 4.4 Impacts on business, financial position and financial performance of the

reassessed its business structure to move towards Green Businesses targeting renewable energy, materials recycling and eco management. To pursue its business strategy, 36 MW solar farms in Thailand have been

Company Limited and its subsidiaries (“the Company”) reassessed its business structure to move towards Green Businesses targeting renewable energy and real estate business. To pursue its business strategy

, the Company's financing cost was 39.09 Million Baht, increased by 15.03 Million Baht, or up by 62.47% from the previous year. This was a result of higher number of Ready-to-move-in projects ready for