dividend income, while net fees and service income increased, mainly due to an increase in fees from securities business. Operating expenses decreased by Baht 1,429 million or 10.1 percent due to seasonality

, sales and distribution channels. In case of export, specify the domestic/export sales ratio, the markets or the groups of export markets for such major products or services; (b) Describe the industry

Net operating debt to equity at 0.61 times with strong operating cash flow. Dividend payout remain much higher than its stated policy of 30% of net profits. Perpetual debenture of THB 15b refinanced at

% Interest income and dividend income 55 12 16 -70% 38% Other income 170 441 59 -65% -87% Selling and administrative expenses (1,432) (2,327) (1,660) 16% -29% Exploration and evaluation expense (9) (11) (9) -5

million and dividend payment Baht 217 million. Use of Funds The Company reported net cash outflow from investing activities of Baht 65 million, mainly comprised of; • Cash out for a net investment in

million and dividend payment Baht 217 million. Use of Funds The Company reported net cash outflow from investing activities of Baht 65 million, mainly comprised of;  Cash out for a net investment in

, decreased by 6.2% previous year due to the dividend payment of Bt473.96mn, treasury stock of Bt187.34mn and net profit of Bt583.10mn in 2018. Key Financial Ratio Quarter Quarter Quarter 4/2017 3/2018 4/2018

came from waste of raw materials increased 4.48 million Baht, dividend income increased 1.17 million Baht, rental income decreased 1.43 million Baht, gains on sales of machinery and equipment decreased

percent that those decreased from the annual dividend payment of the year 2017 in Q2-2018 and interim dividend payment from 6 month operation of 2018 in Q3-2018. Sincerely yours, (Ms. Sarin

shareholders equity 1,341.44 1,440.79 -99.35 -7% Golden Lime Public Company Limited 7 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 31 DECEMBER 2019 There was a dividend payment of 1Q 2019 of 0.12THB/share