production in India is lower than that in Thailand around 20-25 percent. Thus, the Company could expand and increase the percentage of market in India, and profit margins for competing competitive products

was approved for investing in new business and expand current business which will, by no means, disrupt GLOCON’s cash flow. 5 Opinion of the Board of Directors 1. The acquisition of dried fruit business

3,671 4,592 61% 25% Excluding non-recurring items 2,802 3,468 2,557 (9%) (26%) Earnings per basic share (THB) 0.63 0.82 1.02 61% 25% Excluding non-recurring items 0.62 0.77 0.57 (9%) (26%) Unit: million

1,073 35% Net profit 2,470 4,592 467 (81%) (90%) 5,317 5,059 (5%) Excluding non-recurring items 2,601 2,501 (611) (123%) (124%) 5,403 1,890 (65%) Earnings per basic share (THB) 0.55 1.02 0.10 (81%) (90

% Net profit 2,470 4,592 467 (81%) (90%) 5,317 5,059 (5%) Excluding non-recurring items 2,601 2,501 (611) (123%) (124%) 5,403 1,890 (65%) Earnings per basic share (THB) 0.55 1.02 0.10 (81%) (90%) 1.18

) -45% 10% Profit attributable to owners of parent 1,168 (1,546) 214 -82% 114% Basic earnings per share (Baht) 0.85 (1.12) 0.16 Note: 1/ EBITDA from Refinery Business of the Company, BCP Trading Pte. Ltd

Commission (MIC) 5/18 approval permit and also the commencement date of construction which is informed in written from HSMC. HSMC is able to expand or postpone the construction period up to 2 times. If the

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through support of investment and private spending as well as bolstering opportunities for other econo...

1,366.11 +5.37% Cost of Sales and Services 1,251.00 1,139.66 +9.77% Selling and Administrative Expenses 103.61 100.96 +2.62% EBIT 84.88 125.50 -32.36% Net Profit 70.56 104.37 -32.39% Basic Earnings per Share

-53.56% Basic Earnings per Share 0.35 0.25 (0.002) 0.23 1.79 0.83 -53.56% Performance Report Issue of trade war between the United States and China affected the overall global economy as well as the