3rd Quarter 2018 MD&A 20 Table 11: IVL Consolidated Statement of Financial Position THBm 30-Sep-18 31-Dec-17 30-Sep-18 vs. 31-Dec-17 Assets Cash and current investments 11,328 7,015 61% Trade accounts

2017 was due to the low efficiency in asset utilization. At present, PCCA’s production capacity for cosmetic products accounts for approximately 40 percent of the total production capacity. Moreover

appraisal by financial advisor. PCCA’ s operating loss of THB 0. 07 Million in 2017 was due to the low efficiency in asset utilization. At present, PCCA’s production capacity for cosmetic products accounts

29.81 million, decreased doubtful accounts by THB 13.98 million, loss from impairment of goodwill by THB 51.20 million, loss from impairment of investments in associate by THB 1.63 million, decreased

) an offence regarding documents or accounts such as falsifying documents, using or referring to falsified documents, informing the competent officer to record false statements in documents, or aiding or

securities lending 25% 5 total SIP 7 1 : (single entity limit) 15% : product limit 6 derivatives derivatives (hedging) 4 : (concentration limit) 1 ( ) 1.1 1 3 (financial liability) . ( P a g e 29 | ( ) KTFFE86

remaining amount of debenture is 4,527 million baht, advances and deposits received from customers of 3,645 million Baht, and deferred income tax liability of 1,594 million Baht. Total interest bearing debts

the accuracy or completeness of the information contained in this document or otherwise made available nor as to the reasonableness of any assumption contained herein or therein, and any liability

% Payable days (days) 145 81 Efficiency Ratios Leverage Ratios Return on assets4 (%) 14.0% 10.2% Liability to Equity (times) 0.4 0.5 Return on fixed assets5 (%) 80.4% 58.2% Debt to equity (times) 0.1 0.1

days (days) 138 126 Efficiency Ratios Leverage Ratios Return on assets4 (%) 10.2% 5.1% Liability to Equity (times) 0.4 0.6 Return on fixed assets5 (%) 58.4% 29.7% Debt to equity (times) 0.0 0.2 Asset