’ equity as mentioned above. As a result, debt to equity ratio increased but remained at low level of merely 0.47x. In respect of liquidity ratio in this quarter, the ratios were almost unchanged yoy. Trade

% 37.9% Return on Equity * 22.4% 47.6% Working Capital Management (Days) Trade Receivable Period 62 74 Inventory Period ** 40 37 Trade Payable Period 46 46 Leverage Ratios (x) Interest Coverage 3,923.2

lessen the current assets.  Liabilities down 35.90 million Baht, mainly came from trade and other payables decreased.  Shareholders’ equity up 2.17 million Baht, as a result of the other components of

liabilities 74,281 97,277 (22,996) Total shareholders’ equity 959,070 912,929 46,141  Assets The total assets increased 23 million Baht, comprising current assets increased 7 million Baht and non-current

on Assets * 13% 11% Return on Equity * 20% 13% Working Capital Management (Days) Trade Receivable Period 35 39 Inventory Period ** 20 18 Trade Payable Period 20 22 Leverage Ratios (x) Interest Coverage

(EBITDA / finance costs) decreased to 32x from 120x and debt to equity ratio increased to 0.44x from 0.13x. In respect of liquidity ratio in year 2018, average trade receivable day improved due to increase

cash and cash equivalent at 40.25 million baht, up by 19.05 million baht. This was in line with the lower volume of trade receivables due to better quality of trade receivables in terms of debt payment

* 12% 10% Return on Equity * 14% 12% Working Capital Management (Days) Trade Receivable Period 62 67 Inventory Period ** 40 35 Trade Payable Period 36 44 Leverage Ratios (x) Interest Coverage 350.60

overdrafts and short-term loans 215 229 (5.9) Trade and other payable 11,022 10,480 5.2 Others 2,394 2,835 (15.6) Total Liabilities 13,631 13,544 0.6 Total Shareholders’ equity 33,110 32,473 2.0 Total

million. Trade and other Receivables were Baht 69.27 million from Baht 52.59 million. And, Inventories were Baht 16.44 million as of 31 December 2018, an increase from Baht 12.06 million as of 31 December