granting of approval under this Notification, certain facts lead to the consideration that the objective or substance of such offer for sale of sukuk has the intention to evade provisions under the law

the Notification of the Capital Market Subsidiary Board No.Torchor20/2551 Re: Rules on entering into Material Transactions Deemed as Acquisition or Disposal of Assets and Notification of the Board of

Excludes retail space. Construction Material Business Performance of this business constitutes performance of manufacturing and sales of construction materials, e.g. finished fences, aluminum products, etc

assets, if material, each quarter. Inventory days were 98 days in 2019, 89 days in 2018, and 77 days in 2017. Liquidity The group has THB 8.7 billion in cash and financial investments with no interest

raw material cost which is higher by 1.5 percent. However, the selling and administration expenses consists of employee benefits, rental, depreciation and marketing expenses were THB 2,759 million

instead. Furthermore, the rise on an average price on steel-coil and the company was not adjusted the selling price proportionally to the rise of its raw material. Due to the market competition corporate

higher costs particularly raw material costs impacted the EBITDA result compared to the same period in 2016. Fuel prices have risen however, as prices were agreed before the latest spike, the company paid

incomes also increased from the revenue of by products, waste, material and interest received from the short term investment fund. Regarding to ECF Holdings Company Limited, as the subsidiary of the Company

disposition of the Company’s assets in accordance with Notification of the Capital Market Supervisory Board No. TorChor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or

Capital Market Subsidiary Board No.Torchor20/2551 Re: Rules on entering into Material Transactions Deemed as Acquisition or Disposal of Assets and Notification of the Board of Governors of the Stock