26 million; (3) cash inflows from liabilities under financial lease agreement of Baht 16 million; and (4) cash paid to finance costs of Baht 34 million. 6. Forward Looking The Company and its

8 บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public Company Limited Management Discussion and Analysis Quarter 1 Ending 31 March 2018 G Steel Public Company Limited Page 1/12 Management Discussion and

company was at Baht 5,402 million, increased by Baht 3,273 million or 154% from Q1/2019, and increased Baht 3,771 million or 231% from Q2/2018. this is mainly due to the immediate recognition of GLOW’s

well by 42.98 million Baht because in 2 0 1 6 , the company had to pay for the excess amount of water drawn from Bangpra that exceeded the quota permitted through an agreement with Royal Irrigation

institution under the Law on Loan Interest of Financial Institutions or a financial institution under foreign law; (2) an agreement having characteristics comparable to the assets under (1) in accordance with

the Law on Loan Interest of Financial Institutions or a financial institution under foreign law; (2) an agreement having characteristics comparable to the assets under (1) in accordance with the Shariah

being a financial institution under the Law on Loan Interest of Financial Institutions or a financial institution under foreign law; (2) an agreement having characteristics comparable to the assets under

agreement of Baht 20 million; and (4) cash paid to finance costs of Baht 52 million. 6. Forward Looking The Company and its subsidiaries will continue to expand branded business overseas and hasten the

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Third Quarter and Nine-Month Period Ended 30 September 2018 1. Q3/2018 Highlights Figure 1

manage production of the Company, the Company can generate cash margin by Baht 1,223 per ton for the 3rd quarter in 2017. Management’s Discussion and Analysis (MD&A) For Q3/2017 2 In this quarter, the