, force majeure by one of its suppliers (impacting PHP) and the start-up impact of recently acquired assets including Durafiber, Avgol and Kordana resulted in this segment earning a core EBITDA margin of 8

contribute high gross margin; 4) marketing activities to help dry stock at trade stores and prepare for new packaging launch in Q3; and 5) increased administrative expenses from higher personnel expenses to

barely changed yoy. Cash and cash equivalent decreased 19% due to the spending of some internal cash flow to acquire the remaining shares of the subsidiary in 1Q’18. Trade receivable increased because of

significant changes Q3-2017 Q4-2016 Q3-2017 VS Q4-2016 (MB) (MB) % Cash and cash equivalent 1,258.8 1,873.9 (615.1) (32.8)% Current Investment – Trading Securities - 25.2 (25.2) (100.0)% Trade and Other

baht Million baht % Total Assets 457.86 459.46 1.60 0.35 Cash and cash equivalents 92.96 100.56 7.60 8.18 Trade and other account receivables 68.62 76.26 7.64 11.13 Inventories 110.48 99.55 (10.93) (9.89

the increase of trade receivables and unbilled receivables. The quality of assets Trade account receivables Unit: Million Baht Consolidated financial statements 31 March 2018 31 December 2017 Trade

increasing 34%. Along with this acquisition the start-up of kiln 7 also contributed additional capacity which was particularly significant during the peak sugar season and also gave us the room to take

installed capacity of 150,000 cubic meters per day (Phase 1B) was ready to start commercial operation from November 2019. Although, SDWTP had average sales volume more than 80% of Phase 1A’s installed

will continue to pay the outstanding balance of all overdue trade to the WPS and WPS will pay the outstanding balance of all overdue to the seller and the subsidiary of the seller. According to the

Sukhumvit 36, a joint venture project between the Company and Hong Kong Land with accumulated presales circa 60%, will start ownership transferrence and the Company believes that the transfer value should be