follows:  Revenue from sugar business increased 19.0%, as a result of higher international sugar sales volume, together with higher average sugar selling price.  Revenue from bleached bagasse pulp

of 56,000,000 shares at the price of baht 2.68 per share, totally baht 150,000,000. Detail of the transactions are as follows : 1. Transaction date With in November, 2018 2. Parties involved Buyer

the director, executives, the major shareholders or the authorized person of the Company at the price of not exceeding Baht 100,000,000. Details are as followed 1) Transaction Date Within March 2018 2

contractor. IFA is of opinion that: While purchasing price of B37 per share is in line with fair value estimated by IFA at B37.70, IFA did not obtain information on other investors? investment cost and was

. IFA is of opinion that:1. While purchasing price of B37 per share is in line with fair value estimated by IFA at B37.70, IFA did not obtain information on other investors? investment cost and was unable

condition and type required for the aforementioned operations, at the sub- lessee’s own cost and expense. Leased Assets The land located at Thung Sukhla Sub-District, Si Racha District, Chonburi Province

Expenses (130.8) (152.9) -14.5% Finance Costs (366.6) (459.9) -20.3% Share of Profit from Investments in Associates and Joint Ventures 2,047.4 1,936.1 5.7% Income Tax (Expense) Income (49.1) (18.2) 170.4

15.3% Administrative Expenses (34.5) (8.4) 308.8% Finance Costs (76.9) (93.7) -17.9% Share of Profit from Investments in Associates and Joint Ventures 339.2 659.2 -48.5% Income Tax Expense (6.3) (6.8

thus significantly reduced the cost of sales and administrative expenses . Overall gross profit margin improved to 42.3% from 30.7% in 2018 Selling and Administration expenses The Company recorded

price and time. Discussion and Analysis of the Company and its subsidiaries Operational Results in 2018 and 2017 Corporate Revenue In 2018 the Company and its subsidiaries’ total earnings amounted to 880