was mainly from the Company managing to reduce raw material costs due to cheaper sources of raw materials imported and the reduced energy. For the three-month period ended 30 September 2019, the selling

.  Later, on 12 June 2018, the SEC file a criminal complaint against 11 directors of EARTH for making false entries or failing to enter any material statement in documents regarding the increased debt.*In

. Significant events in the third Quarter of 2017 1.1 The progress in construction projects 1.1.1 Project completion - Klongluang Utilities Company Limited, (EGCO holds a 100% ownership interest.), is a

units sold out. Demand for the other 2 projects is strong with the pre-sale progress currently at 85-95%. Construction of the projects have begun and expected to be completed and ready for transfer by the

also made continuous progress with the asset enhancement initiatives, particularly with CentralWorld, which is on track for completion in 3Q18. Preparations are also made with the major renovation

@egco.com Page 2 Management Discussion and Analysis 1. Significant events in the Third Quarter of 2020 1.1 The progress in construction projects 1.1.1 Project completion - Gangdong Fuel Cell Project (Gangdong

transaction. Moreover, the transaction is considered an Acquisition of Assets according to the Notification of the Capital Market Supervisory Board No. Tor. Jor. 20/2551 Re: Rules on Entering into Material

the Notification of the Capital Market Supervisory Board No. Tor. Jor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets and Notification of the Board

sugar tax and excise tax effective in Oct’19. “Fit Fast Firm” project deliverables in 2019 are lower raw material and packaging costs, packaging optimization, new lighter weight bottles and more

to maintain profitability through effective marketing to boost sales, while increasing efficiency in the management of raw material costs and other expenses. Nonetheless, from the aforementioned