vices and o ht or an inc rease by 64 s was due der Jaymart hased acco For the 6 m accounts re n increase 5 ny can colle uarter 3 in ccounted fo e was 1.2 m solidated the hs in 2017 y acquired he second q

progress reached 91%. The project is due to complete in 3Q19. • In February, the Company partnered-up with HKL (Thai Developments) Limited, a subsidiary of a global developer Hongkong Land Holdings Limited

THB 95 million due to; - Increasing of HRC price: the average selling price of HRC in Q3-2017 was THB 18,079/ton, increased by 3.9% as compared with Q2-2017 (THB 17,403/ton) according to HRC market

44%yoy), attributed to the lower profitability of Methyl Ester due to the lower feedstock price discount when the CPO price was weak and the impact from the appreciation of the THB, in which the THB

can be described by business segment as follows: Industrial and OEM (B1) The revenue from this business segment increased by Baht 6.07 million or 30.52 per cent from the same period of last year due to

segment increased Baht 3.85 million or 15.61 per cent from the same period of last year. Due to the adjustment the business strategy to focused on the large project. and the quality of service and products

% Finance cost 18.41 36.80 18.39 99.89% Income tax expenses 22.21 28.27 6.06 27.29% Net profit 80.50 95.26 14.76 18.34% Net profit ratio (ROS) 18.98% 20.67% Earnings per share (Baht) 0.13 0.16 0.03 23.08

average daily turnover decreased from Baht 4,486 million in 2017 to Baht 4,047 million in 2018. In addition, at the same period of time, the company’s market share decreased from 5.00% to 4.00%. 2. The

Ref. PDI/BK-BS-011/2019 25th February 2019 Re: Management Discussion and Analysis (MD&A) For the year ended December 31, 2018 To: President The Stock Exchange of Thailand Due to depletion of Mae Sod

investments in joint ventures (37.87) - - - (37.87) - Finance costs (101.22) (76.74) - - (101.22) (76.74) SHARE OF LOSS OF INVESTMENT IN JOINT VENTURES ON EQUITY METHOD (2.62) (11.51) - - (2.62) (11.51) GAIN