translation into US Dollars at average exchange rates and closing exchange rates where applicable. Readers should rely on the THB results only. IVL has presented the analysis in the MD&A in US$ as it believe
business is calculated from the sum of (i) cash collected from the debtors during the period; and (ii) cash collected from the Legal Execution Department during the period. We believe that, for our NPLs
Department during the period. We believe that, for our NPLs management business, cash collection is a key performance indicator which is applied by othe r operators in the same business and various investors
time (page 14-16) reflects the new calculation methodology and we believe this is as per globally & widely accepted practice. Underlying EBITDA will reflect the true performance of the businesses in a
decreased rental area for some branch for reduce rental fee and moreover the Company has promotional activity, made an advertisement in each area for increased sale. We believe that sales and service income
that increased as a result of our growing headcounts and upward adjustment of based compensations in accordance with our human resources policies. We believe that our SG&A expenses have become normalized
human resources policies. We believe that our SG&A expenses have become normalized and the overall cost control measures are well implemented so that to serve as a tailwind factor to our ability to
same trend as in Q4/17. We strongly believe that we can increase production capacity and also maintain the metal spread to strengthen the Company business. 2. Business Outlook on Q1/2018 Management’s
stable and will moving in the same trend as in Q4/17. We strongly believe that we can increase production capacity and also maintain the metal spread to strengthen the Company business. 2. Business Outlook
range of investors; (4) having financial readiness without any reasonable ground to believe that the financial status may cause damage or any other circumstance indicates an ongoing financial problem; (5