LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q3/2018 2 2. ECONOMIC SITUATION Thai economy in Q3/2018 continuously grew. Export-oriented manufacturing businesses expanded for specific sector, automobile

our staff and customers remains our top priority. The Company constantly evaluate the situation and take proactive action to manage up-to-date under condition that are changing rapidly by aware of the

caused the company’s gross profit to improve from the previous quarter. However, within this year the company is still affected by the situation of the crude palm oil price which was still at a low level

TRANSLATION) Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. Notification of the Capital Market Supervisory Board No. Tor

situation of Corona Virus (COVID-19) according to the Emergency Decree and its related announcement resulted that the Chinese tourists who are main customers of this business segment unable to access the

which is the best price under the market situation in the period of the offering shares to investors, after authorized by the Extraordinary General Meeting of Shareholders No. 1/2019, by which the

. Although this circumstance is not a normal transaction of the Company, the Company had to issued credit notes and received program rights return of Baht 220 million to maintain business relations with the

Limited can be found in Enclosure 1. After the condition precedents specified in the Business and Trademark Purchase Agreement between the Company, NMG, and KMM, including the other relevant agreements are

be a proper way for IFEC to deal with the current situation so that shareholders who are the real owners of the company will have an opportunity to select candidates they deem suitable to become new

a bidding price for each asset in accordance with the methods and conditions specified by the Company. The Company shall then transfer the asset to the highest bidder, under the condition that the