operations of the Group The Group has principally engaged in distribution of product and equipment, design, assembly and installation, and maintenance service of pure water treatment system; including operate

of the Group The Group has principally engaged in distribution of product and equipment, design, assembly and installation, and maintenance service of pure water treatment system; including operate

The opinions of the Independent Financial Advisor on the connected transaction (For the purpose of translation only) 0 The opinions of the Independent Financial Advisor on the connected transaction by Thai Wacoal Public Company Limited Presented to Shareholders of Thai Wacoal Public Company Limited Prepared by 8 March 2019 This English report of the Independent Financial Advisor’s Opinions has been prepared solely for the convenience of foreign shareholders of Thai Wacoal Public Company Limited...

forward the efficiency improvement of ABP5 via LTSA with Siemens After ABP3 entered the additional Long Term Service Agreement (LTSA) with Siemens in December 2018 – January 2019 in order to improve

13486, including relevant licenses 6,336 square meters 3 76 items of machinery and equipment for the manufacturing business, including relevant licenses - This is to improve the financial position and

Group The Group has principally engaged in distribution of product and equipment, design, assembly and installation, and maintenance service of pure water treatment system; including operate clinical

the increasing in inventories whereas the decreased in non- current assets mainly due to the depreciation for property, plant and equipment.  Total Liabilities As of 30 September 2017, the Company has

Investment in related company 12.22 0.57% 10.99 0.48% Long-term investment 2.66 0.12% 2.73 0.12% Property, plant and equipment, net 422.09 19.67% 448.52 19.75% Intangible assets – net 0.62 0.03% 0.76 0.03

equipment. 6. Financial Status Management’s Discussion and Analysis (MD&A) for year 2017 13  Total Liabilities As of 31 December 2017, the Company has total liabilities amounted to THB 5,492 million which

advance payment to supplier whereas the decreased in non-current assets mainly due to the depreciation for property, plant and equipment. 6. Financial Status Management’s Discussion and Analysis (MD&A) for