ordinary shares of S-TREK in the proportion of not exceeding 51 percent of the total issued shares of S-TREK by purchasing from the existing shareholder i.e. Mr. Jirasak. Those are the reasons why the

27,739 28,536 2.9% Total equities attributable to Owner 19,253 19,670 2.2% Net-int debt to equity (times) 1.5 1.6 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis PROGRESS OF

not exceeding 51 percent of the total issued shares of the Company by purchasing from the existing shareholders i.e. Mr. Jirasak Prempojwattana (“Mr. Jirasak”), in the total number of 15,300,000 shares

concrete product business, food business and oil business. 3.3 In 2018, the Company received the payment from trade receivables at the total amount of Baht 329.50 million, which the Company had already

well as the Debt Recovery Committee and the Human Resource Committee. 3. Type and size of transaction, basis used to determine service fee and payment method 3.1 Type and size of transaction This

Limited 0.69 - Total 23.63 11.54 During the first quarter of 2018, sales and promotion expenses of Mana Patanakarn Company Limited were higher when compared to the same quarter of 2017. The company also had

(Ayutthaya, Thailand) 1,678,416 32% 2,115,779 35% (437,363) -21% IC (Jiaxing, China) 242,954 5% 348,936 6% (105,982) -30% HTI (Ohio, USA) 211,446 4% 274,527 5% (63,081) -23% Total Revenue 5,169,649 100

% 9,100 0% 20,953 230% IC (Ayutthaya, Thailand) 1,603,996 35% 1,702,076 33% (98,080) -6% IC (Jiaxing, China) 146,454 3% 216,262 4% (69,808) -32% HTI (Ohio, USA) 142,046 3% 209,737 4% (67,691) -32% Total

from pre-acquisition level of 35% to 56% by end of 2019. IRSL refinanced its outstanding debt with banks in India and managed to reduce cost of financing for funded long term facility by 8% p.a. and for

than 87 percent and total sales and service income decreased by 30 percent. Gross profit increased by 319 percent. However, there is a positive impact on the overall operating results because in the past