million, consisting of (1) cash inflows from operating activities before changes in operating assets and liabilities of Baht 78 million; and (2) cash inflows from net change in working capital of Baht 78

of 2017, the Company had a short-term loan for purpose of increasing working capital. 5. Performance of the Company and its Subsidiaries Management’s Discussion and Analysis (MD&A) For Q1/2018 11

working capital of THB 810mn. After deducting cash paid for interest expenses of THB 454mn and cash paid for corporate income tax of THB 3mn, net cash from operating activities was THB 353mn. Net cash used

from the connected person is from Loan from the Company, which is a working capital from business operation. Loan from related company will be complied with the Policies of the connected transactions

and Front-End Fee 41.31 2.84 Page 7 Asset and Capital Transaction Initial Cost (Baht million) Initial Cost (percent) 6. Start-up Expense 54.03 3.71 7. Working Capital 41.40 2.84 Total Expenses of the

. Start-up Expense 54.03 3.71 7. Working Capital 41.40 2.84 Total Expenses of the Project Investment 1,456.31 100.00 6. The Basis of the Value of Consideration Paid The Company will enter into the assets

to repay the debt within the specified time and to be able to reduce the burden of increasing interest that occurs from the debt burden. Furthermore, the Company may use the proceeds as the working

1,090 million will mature in June 2021. The proceeds will be used to repay long-term debt from financial institution of THB 1,800 million, leaving the remainder on purpose of working capital utilization

1,800 million, leaving the remainder on purpose of working capital utilization which will increase liquidity of the Group as reflected in better liquidity ratio of 0.83 times, up from 0.67 times as of 31

respectively. The increased of financial costs of THB 48 million resulted from the Company had a short-term loan for purpose of increasing working capital commencing in 4th Quarter of 2017.  Loss from exchange