February due to COVID-19 as some of our sites in China, India and Italy were impacted. We have taken proactive steps to reduce our inventories, reduce our capex by US$300M and actively manage our costs

COVID-19 resolves in a better direction. Reducing inventories without losing sales opportunities The Company has a policy to reduce inventories continuously since 2019 to reduce storage costs, carrying

Company’s competitiveness and to expand the development of the project together with increasing of market share for the company in order to achieve its business goals and this will reduce risk of investing in

its business goals and this will reduce risk of investing in large projects. It is also a good opportunity to continue to work with other business partners in the future, including exchange of knowledge

liquidity, capital structure, potential for generating income in the future and the better financial status as the Company does not create an additional liability from loan and can reduce the financial cost

reduce in sales volume. The gross profit of the company decreased mainly due to: • Independent Power Producer (IPP): The gross profit decreased by Baht 553 million as a result of a lower gross profit from

percent. (Source: Ministry of Tourism and Sports). 3 ASIA’S BOUTIQUE AIRLINE For the overall Thailand tourism industry in 2019 increased only 4.2 percent. Tourists from South Asia region had the highest

and can reduce the financial cost. Also, the Company foresee the growth of Biodiesel industry as the government support this kind of business as it is a clean renewable energy compare to diesel. This

generate new sources of revenue. Banking operations were also continuously improved to reduce costs. On the regulatory front, the Bank of Thailand implemented a macroprudential policy to regulate the Loan-to

days. Q3/2017 average production rate was increased to 689 thousand litres per day or 85% utilization rate, and Inventory Loss was recorded at THB 54 million. Measures were taken to reduce Selling