disclosed to the SET. Enclosure Page 5 3.3 Rationale and background of the transaction Currently, the Company encounters the situation of the lack of financial liquidity and requires cash flow for debt

memorandum on entering into such transaction is disclosed to the SET. 3.3 Rationale and background of the transaction Currently, the Company encounters the situation of the lack of financial liquidity and

per year. The investment budget for these projects is estimated to be around THB 1,200 - 1,500 million per year. However, this expansion plan can be adjusted depending on changes of future situation

recording NRV in the past few quarters, affecting the profitability of the Company. This situation affects all entrepreneurs in the palm oil industry as a whole. At present, the Company uses a strategy to set

tons per year. The investment budget for these projects is estimated to be around THB 1,200 - 1,500 million per year. However, this expansion plan can be adjusted depending on changes of future situation

global raw materials and the increasing in competition among entrepreneurs under the situation of excess supply from products and raw materials coming in from various countries. Therefore those factors

weaker to previously average level. Amongst uncertain situation in many countries, Thailand’s post-election government was formed in June. That was a positive factor to promote the country’s stability in

in HRC market price. In Q2/18, an overall market for Steel industry has dropped as cyclical situation according to a long holiday period in April and starting of the rain season which will result to a

into such transaction is disclosed to the SET. 3.3 Reasons of entering into the transaction Currently, the Company encounters the situation of the lack of financial liquidity and the cash flow for the

declined than CPKO. Comparing to 1Q2018, Market P2F of FA was improved by 46 USD/ton or up 11% qoq, attributable to the supply and demand situation. For 6M/2018 vs. 6M/2017, CPKO price was declined due to