(0) 2661-6664 2 INDORAMA VENTURES PUBLIC CO., LTD (SET: “IVL”) MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) FOR THE PERIOD OF 2Q 2017 (CONSOLIDATED) Table 1: Financial Summary - Core Financials of
proportion in core business from the minimum of 75% of the total number of voting rights to that of 50%, strengthening investor protection by revising rules on holding company?s investment structure to ensure
a tangible approach to the debt repayments. The SEC viewed that EARTH ' s core business is coal trading for which liquidity management is crucial. And in the past EARTH used loans from financial
relevant to its core or non-core businesses to enhance flexibility and efficiency of their business operations. In principle, the business operators must have an apparent outsourcing policy, measure
(0) 2661-6664 2 INDORAMA VENTURES PUBLIC CO., LTD (SET: “IVL”) MANAGEMENT DISCUSSION AND ANALYSIS (MD&A) FOR THE YEAR ENDED DECEMBER 31, 2017 (CONSOLIDATED) Table 1: Financial Summary - Core Financials
increased by the same direction of the revenue. The sales expenses amount 32.84 million baht in Quarter 1/2019 compared to Quarter 1/2018 amount 31.52 million baht or increase by 1.32 million baht (4.19%) and
decreased by the same direction of the revenue. The sales expenses amount 31.52 million baht in Quarter 1/2018 compared to Quarter 1/2017 amount 35.55 million baht or decrease by 4.03 million baht (-11.34
services were increased by the same direction of the revenue. The reason is the emergency case in March. The sales expenses amount 35.49 million baht in Quarter 1/2020 compared to Quarter 1/2019 amount 32.84
Shopping malls - International 1 83,271 1 83,271 50 Total retail properties 33 1,784,629 33 1,570,024 5 214,605 90 Non-core businesses Office buildings 7 171,985 5 56,174 2 34,320 1 81,490 95 Hotels 2 561